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Argo Corporation Reports Third Quarter 2024 Financial Results

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TORONTO, Nov. 29, 2024 /CNW/ – Argo Corporation (TSXV: ARGH), (OTCQX: ARGHF) (“Argo” or the “Company”), a new venture delivering the first-ever vertically and publicly integrated city transit system, announced today its financial results for the quarter ended September 30, 2024 (“Q3 2024”). During the third quarter of 2024, Argo deployed its smart transit system with its first paying customers and made significant progress in restructuring prior initiatives in its publicly traded entity. 

Argo Highlights

Argo School: The Company successfully deployed its smart transit solution to a series of private schools in the Greater Toronto Area, providing end-to-end student transportation operations. Argo’s innovative technology delivers access to more flexibility and real-time tracking of students and vehicles, with unprecedented safety, reliability, and transparency for families and schools alike. The Company plans to continue to expand this solution to other private and public schools throughout Canada and abroad.Argo City: Argo’s public transit solution is the first to integrate custom software with vehicular hardware to create a network of intelligently routed vehicles that augment public transit systems with on-demand, door-to-door service. Argo City aims to reduce private car usage and increase ridership of existing public transit systems through partnership with cities, transit agencies, and governments. The Company expects to announce its first city partners in the coming months.R&D Investment: The Company’s quarterly R&D investment spend for Q3 2024 increased by 401% year-over-year. This investment reflects a significant focus on developing the Company’s proprietary vertically and publicly integrated city transit system, with significant progress in software and hardware functionality to enable seamless and reliable school and city deployments, putting people in control of their mobility.

Restructuring Updates

Vehicle Subscription: $8.5M in liabilities have been reclassified in Q3 2024 as held for sale as a result of wholly owned subsidiaries Steer EV Canada Inc. filing an assignment into bankruptcy under the Bankruptcy and Insolvency Act in Canada and Steer Holdings LLC, making a General Assignment for the Benefit of Creditors, pursuant to California law. The Company anticipates these liabilities will be removed in the coming quarters upon completing these legal processes, aligning with its restructuring efforts announced in the May 23, 2024, press release.Disputed Office Lease: Argo filed a statement of claim regarding a disputed office lease with landlord 8174709 Canada Inc. and the Company’s former CEO. The disputed lease represents $3.6M in liabilities and payables on the Company’s balance sheet.Sale of Financial Assets: The Company continues to engage in active sales processes for intellectual property and financial assets associated with the last venture in its publicly traded entity. In Q3 2024, the Company completed the sale of 14,200 shares of preferred stock in the capital of Westbrook Global Inc., receiving a cash payment of $750K as consideration.

FoodsUp Updates

Argo maintains a 59.95% non-controlling ownership interest in FoodsUp Inc. (“FoodsUp”), one of Canada’s leading restaurant supply platforms. In Q3 2024, FoodsUp had revenues of $28.7M, representing a 10% increase over Q2 2024 and a 61% yearly increase in quarterly revenues from Q3 2023.

The Company remains committed to implementing a transaction structure, the effect of which would be to provide the shareholders of Argo with the net proceeds from any sale of its interest in FoodsUp to a third party or an indirect or tracking ownership interest in FoodsUp in each case, as of to-be-determined record date (the “FoodsUp Divestment”). The FoodsUp Divestment, if it occurs, will mark an important step in the formal separation between the business of FoodsUp and Argo.

Q3 2024 Results Compared to Q3 2023

For the three months ended September 30

2024

2023

REVENUE

$449,567

$101,851

Cost of revenue

29,519

59,676

General and administration

1,019,001

377,350

Operational support

520,911

274,024

Research and development

614,149

122,573

Sales and marketing

73,054

73,068

Amortization

37,108

196,865

Depreciation

10,941

84,831

Total operating expenses

2,304,683

1,188,387

OPERATING LOSS

($1,855,166)

($1,086,536)

OTHER INCOME (EXPENSES)

Foreign exchange gain/ (loss)

(28,460)

(93,854)

Interest expenses

(532,931)

(61,018)

Interest income

1,023

272

Gain/ (Loss) on accounts payable settlements

301,483

Gain/ (Loss) on termination

279,606

Write down of intangible asset

(211,182)

Other income/(loss) from discontinued operations

(10,285,769)

(115,015)

Penalties and settlement

(68,500)

Share of loss of an associate

(593,014)

(2,860,412)

Net income/ (loss) from continuing operations

($12,992,860)

($4,216,563)

Discontinued Operations

Net income/ (loss) from discontinued operations

12,296,195

(1,037,987)

NET GAIN (LOSS)

($696,665)

($5,254,550)

Cumulative translation adjustment

(174,518)

(253,879)

NET PROFIT (LOSS)  AND COMPREHENSIVE PROFIT (LOSS)

($871,183)

($5,508,429)

(Loss) profit per share

– Basic and diluted

($0.01)

($0.04)

Weighted average shares outstanding – Basic and diluted

133,367,099

132,944,615

1 All figures are accurate to the hundreds.

In this press release, all references to ‘$’ are to Canadian dollars.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Argo

Argo delivers the first-ever vertically and publicly integrated city transit system. It is designed to augment public transportation and create a network of intelligently routed vehicles that work together to serve and scale to the needs of entire cities, putting people in control of their mobility. You can learn more at www.rideargo.com.

Praveen Arichandran, Co-CEO
Argo Corporation
(800) 575-7051

Forward-Looking Information

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate,” “estimate,” and “intend,” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, as described in more detail in the Company’s securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. See “Forward-Looking Information” and “Risk Factors” in the Company’s Annual Management Discussion & Analysis (MD&A) for the year ended December 31, 2023 (filed on SEDAR+ on May 8, 2024) and its interim MD&A for the periods ended September 30, 2023, March 31, 2024, June 30, 2024, and September 30, 2024 for a discussion of the uncertainties, risks and assumptions associated with these statements and other risks. Readers are urged to consider the uncertainties, risks, and assumptions carefully when evaluating forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation and regulatory requirements.

SOURCE ARGO CORPORATION

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Sunlighten Introduces PulseIQ™: The Intelligent Platform Redefining Infrared Wellness

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PulseIQ™ delivers four distinct wavelengths independently, adapting each session to support recovery, relaxation, and performance. 

OVERLAND PARK, Kan., April 21, 2026 /PRNewswire/ — Sunlighten, the global leader in infrared sauna innovation, today announced the launch of PulseIQ™, its proprietary intelligent wellness platform. This breakthrough sets a new standard for how infrared energy is delivered, absorbed, and translated into personalized wellness outcomes.

For decades, the sauna category has remained largely unchanged. Traditional saunas deliver heat. Most infrared saunas claim “full spectrum,” but in reality blend wavelengths together into a single, undifferentiated output.

The result is a one-dimensional experience. The sauna turns on, heat increases, and the body is exposed to inconsistent energy with no control over how it is delivered or absorbed.

PulseIQ™ changes that.

PulseIQ™ redefines how infrared works by delivering red light, near-, mid-, and far-infrared separately and intelligently. Instead of blending wavelengths and losing their effectiveness, PulseIQ™ isolates and controls each wavelength so your body receives the right type of infrared energy at the right time.

This is infrared intelligence. This is PulseIQ™.

A Category Built on Heat. Reimagined Around Outcomes.

Most saunas today operate with a simple on and off experience. As heat rises, there is no control over the wavelengths being delivered. The distinct benefits of each wavelength are lost, reducing the experience to heat rather than targeted infrared energy.

The difference is not just how many wavelengths are present. It is how they are delivered.

Your body responds to each wavelength differently. When they are blended together, your body cannot fully use them. You are not truly receiving distinct infrared light energy.

PulseIQ™ changes that by isolating each wavelength and delivering it with precision. This allows your body to absorb more usable energy, driving better outcomes based on what your body needs that day.

Because wellness is not static. Your body’s needs change daily. Your sauna should adapt with you.

From One-Dimensional Heat to Personalized Infrared Therapy

PulseIQ™ transforms the sauna experience from passive heat to an intelligent, outcome-driven wellness solution.

Powered by Sunlighten’s infrared intelligence platform, PulseIQ™ delivers:

Four distinct wavelengths delivered independently so each can perform its specific role in the bodySix science-backed wellness programs designed around goals like recovery, detoxification, relaxation, and performancePrecision control of energy delivery and temperature to eliminate peaks and valleys and keep the body within optimal therapeutic ranges

Each wavelength is delivered at the intensity and depth your body can absorb, ensuring the energy is not just produced but used effectively.

Red light supports skin health and surface-level repairNear-infrared supports cellular energy and recoveryMid-infrared supports circulation and muscle recoveryFar-infrared supports core temperature and detoxification

By controlling how this energy is delivered, PulseIQ™ helps your body achieve the specific wellness outcomes you are seeking, whether that is faster recovery, deeper relaxation, improved circulation, or daily restoration.

An Intelligent Sauna That Evolves With You

PulseIQ™ is designed not just for today, but for the future of personalized wellness.

“Infrared has never been about heat alone. It is about how the body responds to light,” said Connie Zack, Co-Founder of Sunlighten. “With PulseIQ™, we control the light your body is receiving so it can absorb more of what it needs. That leads to better outcomes, whether you are focused on recovery, relaxation, or long-term wellness.”

PulseIQ™ introduces an intelligent platform that evolves with you, helping you get more personalized results from every session.

“We are building the next generation of sauna technology,” said Aaron Zack, CEO of Sunlighten. “Our bodies are complex and constantly changing, yet most saunas offer a one-dimensional on and off experience. With PulseIQ™, we’re measuring data every day and using it to advance our technology. In the future, your sauna will be able to guide you. If your body needs recovery or support, it will recommend the right program for you. The sauna you buy today should grow with you, adapting to your needs and helping you achieve better wellness outcomes over time.”

Engineering the Future of Infrared Wellness

For more than 25 years, Sunlighten has led the industry through science, innovation, and a deep understanding of how the body responds to infrared energy.

PulseIQ™ builds on that foundation with a clear focus on what matters most to consumers.

Not just heat.
Not just presence of wavelengths.
But how effectively that energy is delivered and absorbed by the body.

PulseIQ™ delivers the most usable infrared energy at precise wavelengths your body can absorb, giving you greater confidence that every session is working toward your wellness goals.

Redefining What Infrared Should Deliver

PulseIQ™ reframes the conversation around infrared saunas.

This is not about turning heat on and off.
This is about controlling the energy your body receives.

With PulseIQ™, Sunlighten introduces:

1 intelligent sauna platform4 precisely controlled, distinct wavelengths6 guided, science-backed wellness programsA system designed to evolve and personalize over time

Better delivery leads to greater absorption.
Greater absorption leads to better wellness outcomes.

This is infrared intelligence. This is PulseIQ™.

About Sunlighten

Sunlighten is the global leader in infrared sauna and light-based wellness innovation. With more than 25 years of expertise, patented technologies, and a commitment to science-backed performance, Sunlighten designs products that help the body perform, recover, and thrive.

Contact:

Maria Dolgetta

mdolgetta@sunlighten.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/sunlighten-introduces-pulseiq-the-intelligent-platform-redefining-infrared-wellness-302748918.html

SOURCE Sunlighten

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Novita AI Ranked as the Best Performing & Reliable Inference Layer

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120+ LLMs through a single API, with day-0 model availability, OpenAI and Anthropic compatibility, and top-ranked performance validated by Artificial Analysis.

SAN FRANCISCO, April 21, 2026 /PRNewswire/ — As demand for open-source AI infrastructure grows, Novita AI is establishing itself as the inference provider for developers and engineering teams that need fast and affordable inference for production AI. The platform covers more than 120 large language models through a single OpenAI-compatible and Anthropic-compatible API, makes every new model available on release day, and ranked #1 for scientific reasoning accuracy across all major inference providers, according to independent benchmarking by Artificial Analysis.

Novita AI is trusted by leading teams across the AI ecosystem, including Hugging Face, Quora, OpenRouter, Vercel, Kilo Code, and Genspark.

“Open-source AI moves at a pace that most infrastructure hasn’t kept up with,” said Junyu Huang, COO of Novita AI. “We built Novita to close that gap. When a new model ships, developers can be in production with it the same day, on infrastructure they can actually rely on.”

Artificial Analysis provides comparison and analysis of AI models and API hosting providers, with independent benchmarks across key performance metrics including quality, price, and output speed. In its GPT-OSS 120B assessment covering all major inference providers, Novita AI ranked as follows (April 2026):

GPQA Diamond (scientific reasoning): #1 among all providers, scoring 79.0% across 16 runs

AIME 2025 (advanced mathematics): 93.3% across 32 runs, at the level of the top providers

IFBench (instruction following): #5, scoring 68.9%, within 0.8 points of the top provider

Source: Artificial Analysis GPT-OSS-120B Provider Benchmarks, April 2026.

New models ship constantly. Novita AI makes each one available through its API on release day, without exception. For engineering teams running evaluation pipelines or production systems that depend on current models, access is never the bottleneck.

Novita AI hosts more than 120 LLMs across every major model family, including Qwen, DeepSeek, LLaMA, Mistral, Gemma, GLM, Phi, and more. All models share the same API format, authentication, and SDK. Teams on the OpenAI or Anthropic SDK can switch to Novita by changing the base URL.

Novita’s API works out of the box with Claude Code, OpenClaw, Codex CLI, and OpenCode.

Novita AI delivers fast inference with the full feature set production AI teams depend on, with no tiered restrictions or add-ons.

Tool calling: compliant with OpenAI and Anthropic function-calling specifications, supporting multi-turn agent workflows

Structured outputs: JSON responses that conform to a specified schema, no parsing wrappers needed

Prompt caching: lower latency and token costs for RAG pipelines and agent sessions with repeated context

Novita AI is an AI and agent cloud platform helping developers and startups build, deploy, and scale models and agentic applications with high performance, reliability, and cost efficiency. The platform delivers fast inference across 120+ LLMs and multimodal models through a single API, alongside GPU Instances, Bare Metal, and Agent Sandbox infrastructure built for production AI.

For more information, visit novita.ai.

View original content to download multimedia:https://www.prnewswire.com/news-releases/novita-ai-ranked-as-the-best-performing–reliable-inference-layer-302748913.html

SOURCE Novita AI

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Arasan acheives the Industrys First ASIL-D Certification for its CAN XL IP Core

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Arasan announces the industry’s first ASIL-D Certification for its CAN XL IP. The certification also covers Arasan’s CAN FD IP and CAN 2.0 IP.

SAN JOSE, Calif., Apr. 21, 2026 /PRNewswire/ — Arasan Chip Systems, the industry’s leading provider of IP for Mobile and Automobile SoC’s, announced today that its CAN XL IP has achieved the ASIL-D Certification. The CAN  XL IP has been independently certified by SGS-TÜV Saar as ASIL-D, the highest safety level of functional safety defined in ISO 26262, the international standard for functional safety in road vehicles.  

The CAN XL IP is backward compatible with the CAN FD and CAN 2.0 standards.  The ASIL-D certification also covers Arasan’s CAN FD IP and CAN 2.0 IP which will continue to be sold as ASIL-D certified independent products. 

Arasan is offering a free upgrade to its CAN XL IP for customers interested in licensing CAN FD until June 30, 2026. The gate count increase from CAN FD to CAN XL is minimal and customers are encouraged to leverage this promotion to adopt the latest version of the CAN Specification, CAN XL. 

“Arasan’s IP have been used extensively in mission critical and life endangering applications in defense, nuclear, aerospace, medical and automotive ADAS SoC’s ” said Ron Mabry, VP of Sales at Arasan. “The ASIL-D Certification attests to our fail safe design philosophy”.

Arasan’s has an extensive portfolio of ASIL-B, ASIL-C and ASIL-D certified products including the MIPI DSI-2 IP for Display, MIPI CSI-2 IP for Camera both of which are seamlessly integrated with the  MIPI D-PHY IP or the MIPI C-PHY IP, JEDEC eMMC IP for storage and UNH Certified automotive grade Ethernet IP when high speed automotive connectivity is required.

For more information, please visit: https://www.arasan.com/product/can-bus-controller-ip/

Availability

ASIL-D certified CAN IP products, including the CAN XL IP, CAN FD IP and CAN 2.0 IP, are available to license immediately from Arasan. Please contact sales@arasan.com to license our CAN IP.

Arasan Chip Systems, founded in 1995 is a provider of IP solutions for mobile storage and connectivity interfaces. Arasan’s focus lies in mobile SoCs, which have evolved to encompass a wide range of applications, from PDAs in the mid-’90s to today’s automobiles, drones, and IoT devices. Arasan remains at the forefront of this “Mobile” evolution, providing standards-based IP that forms the foundation of Mobile SoCs. Over a billion chips have been shipped with Arasan’s IP.

View original content:https://www.prnewswire.com/apac/news-releases/arasan-acheives-the-industrys-first-asil-d-certification-for-its-can-xl-ip-core-302746283.html

SOURCE Arasan Chip Systems, Inc.

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