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Trump is speaking up and taking no prisoners. The former President walked onto the podium to the chants of USA, USA! to address the nation after his arrest. We have to save our country, Trump thundered from his home at Mar-a-Lago, his voice ringing out across the assembled crowd. I never thought that anything like this could happen in America, he lamented.

The crime he was accused of? Nothing more than protecting the country from those who would seek to destroy it, he explained.

Trump spoke of the FBI and DOJ working in collusion with Twitter and Facebook to silence anyone who dared to speak out against the Hunter Biden laptop, which he claimed exposed the Biden family as criminals. It would have made a 17-point difference in the election result, according to the pollsters, he bellowed.

Our country is going to hell, Trump declared citing fifty former intelligence officers who had confirmed that the Hunter Biden laptop was Russian disinformation. The President was speaking up and taking no prisoners, fully aware that he had nothing left to lose.

Even those who werent his biggest fans had acknowledged, Trump pointed out, that this was not the right thing to do. Its an insult to our country, he said, his voice dripping with contempt for those who had sought to bring him down.

In a fiery political rally speech, Trump warned that we were not far away from a nuclear war. He accused the Democrats of stepping up their efforts by indicting him, the 45th President of the United States, who had received 75 million votes more than any sitting President in history.

Trump spoke at length about the FBI raid at Mar-a-Lago that had taken his passports and medical records. I immediately thought of the Fourth Amendment that protects against unreasonable search and seizure, he explained. But they did it anyway because our justice system has become lawless. Theyre using it now.

He spoke about everything he went through, including the investigation through the Espionage Act of 1917, where the penalty is death. Referring to the classified documents saga, he claimed that as President, he has the right to declassify documents. If I take them with me, its automatic, he said.

But it was the civil investigation that had been launched against him by Letitia James that really seemed to irk the former President. This is a persecution, not an investigation, he fumed. Shes put our family through hell, he said. It cost hundreds of millions of dollars to defend, said Trump, but we hold our heads high.

Despite the prospect of a potential settlement, Trump made it clear that he wanted no part of it. His family had gone through too much already. He spoke with a vulnerability and raw emotion that would raise grave concern among the ideologically non-infested part of America and that group constitutes a substantial segment of the country.

I have a Trump-hating judge with the Trump-hating wife and family whose daughter worked for Kamala Harris, said Trump of Acting New York Supreme Court Judge Juan Merchan.

As he addressed the nation, Trump was resolute in his conviction that the American economy was spiraling downwards and inflation was skyrocketing.

Our economy is crashing, inflation is out of control, he said.

Russia has joined with China. Can you believe that? Saudi Arabia has joined with Iran. China, Russia, Iran, and North Korea have formed together as a menacing and destructive coalition. This would have never happened if I were your President he added.

Trump bluntly declared that the current Biden administration had wreaked more havoc on the country than the collective damage caused by the five worst Presidents in American history.

If you took the five worst presidents in the history of the United States and added them up, they would not have done near the destruction to our country as Joe Biden and the Biden administration have done, Trump declared.

Clocking in at a succinct twenty-five minutes, the speech was comparatively different from Trumps typical habit of going off-script and delivering long-winded speeches. Nonetheless, his legal woes persist.

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Trump Speaks Out: Our country is going to hell - The Pavlovic Today

On March 23, 2023 (the Amendment Date"), Mersana Therapeutics, Inc. (the Company") entered into a Fourth Amendment to Loan and Security Agreement (the Fourth Amendment"), by and among the Company, Oxford Finance LLC, in its capacity as collateral agent (in such capacity, the Agent") and a lender, Silicon Valley Bridge Bank, N.A. (as the successor in interest to Silicon Valley Bank) as a lender (SVB"), and the other parties thereto as lenders (collectively, the Lenders"). The Fourth Amendment further amended that certain Loan and Security Agreement dated as of October 29, 2021 by and among the Company, the Lenders and the Agent (as amended by the First Amendment to Loan and Security Agreement dated as of February 17, 2022, the Second Amendment to Loan and Security Agreement dated as of October 17, 2022 and the Third Amendment to Loan Agreement dated as of December 27, 2022, the Loan Agreement"). The Fourth Amendment modified the covenant applicable to the Company's obligation to maintain Collateral Accounts (as defined in the Loan Agreement) at SVB, which may be a securities account invested in money market mutual funds.

Pursuant to the Fourth Amendment, the Company is permitted to conduct its banking activities, including, without limitation, cash management, letters of credit and business credit cards, with financial institutions which are not SVB or SVB's affiliates. In addition, the Fourth Amendment reduced the minimum amounts that the Company is obligated to maintain in Collateral Accounts at SVB to be the lesser of (i) one hundred five percent (105.00%) of the outstanding principal amount of the Term Loans (as defined in the Loan Agreement) advanced solely by SVB (and for purposes of clarity, no other Lender) and (ii) the dollar value of all Collateral Accounts of the Company and certain of its subsidiaries at all financial institutions. As of the Amendment Date, this obligation requires the Company to maintain a Collateral Account at SVB with 105% of the $12.5 million borrowed from SVB under the Loan Agreement.

The Company did not pay any fees to Lenders in connection with the Fourth Amendment, and the Fourth Amendment did not otherwise modify the Company's obligations under the Loan Agreement.

Link:
Mersana Therapeutics, Inc. Enters into Fourth Amendment to Loan and Security Agreement - Marketscreener.com

Zoned Properties, Inc. (ZDPY) Reports Fourth Quarter and Full-Year 2022 Financial Results

2023-03-28 09:42:12 ET

Zoned Properties, Inc. (Zoned Properties or the Company) (OTCQB:ZDPY), a leading real estate development firm for emerging and highly regulated industries, including legalized cannabis, today announced its financial results for the fourth quarter and year ended December 31, 2022.

Financial Highlights:

Revenues were $2.66 million for the year ended December 31, 2022, compared to revenues of $1.82 million for the year ended December 31, 2021, representing an increase of 46%.

Operating expenses were $2.77 million for the year ended December 31, 2022, compared to $1.78 million for the year ended December 31, 2021, representing an increase of 56%.

Cash provided by operating activities was $871,901 for the year ended December 31, 2022, compared to $489,257 for the year ended December 31, 2021, representing a 78% increase.

This is the Companys sixth year reporting positive cash flow from operations.

Revenues were $607,749 for the quarter ended December 31, 2022, compared to $537,211 for the quarter ended December 31, 2021.

Operating expenses were $671,751 for the quarter ended December 31, 2022, compared to $535,345 for the quarter ended December 31, 2021.

The Company reported a net loss of $574,355 for the year ended December 31, 2022, as compared to a net loss of $165,819 for the year ended December 31, 2021.

The Company had cash on hand of $4.34 million as of December 31, 2022, compared to cash on hand of $842,115 as of September 30, 2022.

Management Commentary:

Following the recent acquisition of our investment property in Michigan producing a straight-line effective cap rate of 13.5%, Zoned Properties has reached a significant inflection point in our business. We are confident that we can continue to actively invest capital in a manner that is both diligent and accretive in 2023 so that we can start scaling our one-of-a-kind commercial real estate investment model, said Bryan McLaren, Chief Executive Officer of Zoned Properties. The Company is constantly expanding its acquisition pipeline, and our team continues to cultivate national relationships to provide access to healthy capital, both of which will continue to fuel expansion aspirations. We believe that the aim and value proposition of Zoned Properties has never been stronger than it is today, with the Company delivering commercial real estate solutions to stakeholders in the regulated cannabis market. We are offering cannabis business owners and entrepreneurs an opportunity to discover an entry-point into the market for legal cannabis. During 2022, we were successful in expanding our executive management team and onboarding a highly skilled group of professionals to bolster our national expansion plans.

We believe that Zoned Properties is well positioned for strong growth and scalability as a result of the consistent, passive revenue that we derive from our property investment portfolio, as well as the clear roadmap that will allow us to expand into state-cannabis markets around the country. These opportunities for expansion are a direct result of our teams participation in hundreds of regulated projects across the nation. We were able to provide value for these projects because we have established a real estate ecosystem that provides a comprehensive selection of commercial real estate services. We would like to thank all of our shareholders, stakeholders, customers, and partners for putting their faith in Zoned Properties, and we will continue to work hard every day to create value.

Operational Highlights:

Zoned Properties has established a national network for its Commercial Real Estate Services, opening Zoned Properties Brokerage offices in Arizona, Alabama, Florida, Mississippi, and Missouri; and engaging advisory clients to provide cannabis real estate solutions across dozens of state cannabis markets.

In January 2022, Zoned Properties and its tenant at the Companys Chino Valley facility completed a Fourth Amendment to its Lease Agreement, whereby the operational square footage of the property increased to 97,312 square feet and the base rent under the lease increased to $87,581 monthly or $1.05 million annually; representing a 167% increase to the annual base rent at the property. The Chino Valley tenant completed over $8.0 million in capital improvements at the property. Any additional expansion to the operational square footage at the 47 acre property will increase rent at a rate of $0.90 per square foot annually.

In November 2022, Zoned Properties finalized a deal at its Tempe, Arizona facility to transfer operational control and tenancy to a subsidiary of Green Dot Labs, bringing a strong, diversified tenant into its portfolio. As consideration for approving the transaction, Zoned Properties received a one-time cash payment of $300,000 and a commitment from the tenant to invest no less than $3.0 million in capital improvements at the property.

In December 2022, the Company secured a competitive debt facility for $4.5 million at a fixed interest rate of 7.65% over a 10-year loan term. The capital was secured as a 50% loan-to-value against its Tempe property. Zoned Properties intends to use the capital specifically for new property acquisitions to grow its Property Investment Portfolio. The Company has been cash-flow positive from operations for 6 years.

Subsequent Highlights:

In March 2023, Zoned Properties announced the completion of its acquisition of an investment property in Pleasant Ridge, Michigan that has been permitted to be a cannabis retail dispensary. The investment property was acquired for $4.30 million, including $1.85 million in seller financing, which allowed Zoned Properties to further leverage its capital stack at attractive rates.

The investment property is leased to NOXX Cannabis under a long-term, absolute-net lease agreement, which will produce a 13.5% cap rate when straight-lined over the term of the lease agreement. The lease includes 3% annual increases in base rent over the life of the lease term, yielding approximately $580,000 in annual base rental revenue when straight-lined over the life of the lease term.

The Company intends to deploy the remainder of its secured debt-capital into similar property acquisition transactions to continue growing its Property Investment Portfolio.

About Zoned Properties, Inc. (OTCQB:ZDPY):

Zoned Properties is a leading real estate development firm for emerging and highly regulated industries, including regulated cannabis. The Company is redefining the approach to commercial real estate investment through its integrated growth services.

Headquartered in Scottsdale, Arizona, Zoned Properties has developed a full spectrum of integrated growth services to support its real estate development model; the Companys Property Technology, Advisory Services, Commercial Brokerage, and Investment Portfolio collectively cross-pollinate within the model to drive project value associated with complex real estate projects. With national experience and a team of experts devoted to the emerging cannabis industry, Zoned Properties is addressing the specific needs of a modern market in highly regulated industries.

Zoned Properties is an accredited member of the Better Business Bureau, the U.S. Green Building Council, and the Forbes Business Council. Zoned Properties does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substance Act of 1970, as amended (the CSA). Zoned Properties corporate headquarters are located at 8360 E. Raintree Dr., Suite 230, Scottsdale, Arizona. For more information, call 877-360-8839 or visit http://www.ZonedProperties.com.

Twitter:@ZonedProperties LinkedIn:@ZonedProperties

Safe Harbor Statement

This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as believe, expect, anticipate, plan, potential, continue or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Companys filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Companys control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Companys current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor Relations Zoned Properties, Inc. Bryan McLaren Tel (877) 360-8839 Investors@zonedproperties.com http://www.zonedproperties.com

SOURCE: Zoned Properties, Inc.

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Zoned Properties, Inc. (ZDPY) Reports Fourth Quarter and Full ... - InvestorsObserver

The U.S. Supreme Court declined on Monday to take up an appeal claiming an Edmond police officer could be held liable for violating the constitutional rights of an unarmed teenager he shot and killed in 2019.

Without comment, the justices let stand the ruling by the 10th U.S. Circuit Court of Appeals that the officer, Denton Scherman, was protected by the doctrine of qualified immunity in the case brought by the family of Isaiah Lewis.

Officer Scherman is pleased with the decision to deny certiorari, but because the lawsuit is still pending believes it is inappropriate to comment further, said Kathryn D. Terry, the Oklahoma City attorney representing Scherman.

The attorney for the Lewis family did not respond to a request for comment.

More:Supreme Court asked to review case of Edmond police officer who killed unarmed teen

The denial of Lewis petition on Monday marked the second time in its last two terms that the high court has upheld the doctrine of qualified immunity for Oklahoma law enforcement officers who killed a suspect during a confrontation.

Last year, the justices overturned a 10th Circuit ruling that two Tahlequah police officers could be held liable for killing a man who was wielding a hammer at his ex-wifes home.

In that case, the justices said, The doctrine of qualified immunity shields officers from civil liability so long as their conduct does not violate clearly established statutory or constitutional rights of which a reasonable person would have known.

As we have explained, qualified immunity protects all but the plainly incompetent or those who knowingly violate the law.

Scherman killed Lewis during an encounter with Edmond police that began with a 911 caller mistakenly claiming that the 17-year-old had assaulted his girlfriend. Scherman and another officer, Milo Box, followed Lewis into a house, where Lewis and Box had a physical fight. Lewis then approached Scherman, who shot the teen four times, killing him, according to court documents.

Lewis parents filed a lawsuit claiming Scherman used unconstitutional excessive force, and a U.S. district judge in Oklahoma City ruled that a reasonable jury could find that deadly force was not justified and that Lewis no longer presented a threat after the first bullet hit him.

The 10th Circuit reversed the judges ruling, saying it ran counter to the U.S. Supreme Courts oft-repeated principle that an officer was protected by qualified immunity unless he or she knew beforehand about a case with very similar circumstances in which force was found to be unconstitutionally excessive.

Neither the district court nor Plaintiffs (Lewis parents) have identified a precedent finding a Fourth Amendment violation under the circumstances Defendant Scherman faced in this case, the 10th Circuit court said last year.

A look back at the case:Parents of teen shot by Edmond police file lawsuit against city, officers

None of the cases they identify provided fair notice to Defendant Scherman that his repeated use of lethal force was unconstitutional when Lewis approached Scherman in a small hallway in the house moving his arms in a windmill motion after Scherman had observed Lewis pummeling Box until Box disappeared from Schermans line of sight.

The attorney for Lewis parents had urged the Supreme Court to review the 10th Circuit court ruling, calling the appeals courts approach mistaken.

To be sure, this Court has instructed courts to frame the right in light of the specific context of the case, but that does not mean that an official action is protected by qualified immunity unless the very action in question has previously been held unlawful, the attorney argued.

The case ultimately will be returned to the district court, which must rule in accordance with the 10th Circuit courts decision.

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Supreme Court declines to hear case of Isaiah Lewis killed in Edmond - Oklahoman.com

Cedar Rapids police Investigator Jared Gienger (left) and Officer Antoine Smith on March 23 check the large drone that is being outfitted to assist in the accident reconstruction. The Cedar Rapids Hazardous Device Unit used a grant to buy the drone three years ago. (Nick Rohlman/The Gazette)

Cedar Rapids police Investigator Jared Gienger demonstrates how to use the infrared camera mounted on a large drone that is used by the Cedar Rapids Hazardous Device Unit. (Nick Rohlman/The Gazette)

Cedar Rapids police Investigator Jared Gienger (left) and Officer Antoine Smith check the large drone thats been used the past three years to examine hazardous devices before officers approach. The drone is being outfitted now to assist in accident reconstruction. (Nick Rohlman/The Gazette)

CEDAR RAPIDS Drones, or unmanned aircraft systems, have become increasingly popular tools used by police departments and fire departments in Eastern Iowa.

The drones are used for everything from tracking suspects or missing people to investigating bomb threats to helping firefighters see through smoke when fighting a fire.

The Cedar Rapids Fire Department and the Linn County Sheriffs Office, for example, used a drone earlier this month to pinpoint the location of a smoldering fire after a grain elevator exploded at the Archer Daniels Midland plant in southwest Cedar Rapids.

The Decorah Fire Department in northeast Iowa has been using drones since 2014 longer than most departments in the state.

At the time, the city had to get a special certificate to own and pilot a drone because the Federal Aviation Administration hadnt yet created the remote pilot certification process.

Now, all drone pilots must be certified under the FAAs small unmanned aircraft systems rule (part 107). Drone pilots in law enforcement and public safety often have additional training on how to use the drones appropriately in their work.

One reason Decorah firefighters wanted a drone was because of the numerous river rescue calls the department receives about people tubing and canoeing the Upper Iowa River, which lows through the city.

The drones have drastically decreased response times to those calls, according to Zach Kerndt, one of the departments four drone pilots.

The drones give us a much better idea of where people are, generally, because the information we receive from our dispatch center is very vague, he said.

The information we usually get is, they put in at this spot or this bridge, and theyre getting out at this bridge, and theyre somewhere in between.

Having a drone really cuts down on the man-hours it takes to find someone because we can find them with the drone ... and come up with a plan, Kerndt said.

The department has two drones, which are used about 20 times a year, Kerndt said.

The drones also are used during fires and in missing person cases.

Since the drones have infrared cameras, they can see through smoke in a fire and can help firefighters on an aerial truck better aim water on whats burning.

In law enforcement, the devices are often used to help officers get a clear picture from above of a crime scene or crash scene.

The Linn County Sheriffs Office has four drones two large ones, two small ones and nine trained pilots, according to Lt. Dave Beuter.

Its a real-time depiction of the scene, of the environment, whether theres snow on the ground, whether the trees have leaves on them, Beuter said.

Especially with criminal investigations, its nice to have those images from the drone, he said. You can go up in the air, even like 10 feet up in the air, and do an angle shot back into whatever youre looking at. Its a lot better depiction of whats seen than what just a simple photograph does.

Lt. Dave Beuter, Linn County Sheriffs Office

The Sheriffs Office started using the drones in 2017, after Beuter and another lieutenant won a drone at a conference and then sought out training so they could use it.

The Iowa State Patrol started using drones in 2020, when it bought 10 drones. It now has 21 drones, which it primarily uses for crash reconstruction, according to the patrols public information officer

The Cedar Rapids Police Department is currently readying its large drone, bought three years ago with a grant, for use in crash reconstruction.

The department currently employs a FARO 3D scanning system that is positioned around a crash scene and uses lasers to create a 3D reconstruction of the scene.

The drone will speed up that process and also provide photos that can be overlaid on a 3D crash depiction.

The Cedar Rapids Hazardous Devices Unit with team members from public safety departments in Linn County bought the drone three years ago, mainly to examine hazardous devices/bombs from a distance.

Lets say we had an improvised or suspicious device that could be out in an area that, based on some of the initial intelligence that we have, we may want to get a better look at photos of that, said Dan Jabens, commander of the Hazardous Devices Unit.

Instead of sending a person down there to put them in harms way, we would use the drone to get better pictures and allow us to develop a game plan on how we want to mitigate that device, he said.

The drone can carry up to 5 pounds, Jabens said. If an object seems especially suspicious. The drone can carry a mitigation charge over the object to remotely disable it, if its a bomb.

To do a remote reconnaissance on a device somewhere would take hours if we had to work our way around and use traditional camera systems, Jabens said. With this, within a minute or two, we can clearly have a picture of what our device is, what were looking at, and what the best way to mitigate that would be,

The Cedar Rapids Police Department has seven officers trained as drone pilots and hope to train more so the device can be used in additional scenarios.

There are situations where a drone cannot legally be used to the fullest extent of its abilities, according to Jabens, such as using it to view private property.

For example, using a drone to search someones property from above, or to look through someones window, without a warrant likely would violate the Fourth Amendment, which prohibits unreasonable search and seizure.

The departments drone procedure policy states that drones shall not intentionally be used for the purpose of gathering evidence or other information, or to intentionally view, record or transmit images or video around a residence or any other location where a person has a reasonable expectation of privacy.

Comments: (319) 398-8328; emily.andersen@thegazette.com

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Drones: Public safety officers learn to fly latest technology - The Gazette