Latest news with #DavidHanna
Finextra
18 hours ago
- Business
- Finextra
Finmo releases AI co-pilot for treasury teams
Finmo has launched MO AI Co‑Pilot, a conversational AI assistant designed to revolutionize how treasury teams manage financial operations. 0 From real-time cash visibility to forecasting and global payments, MO AI co‑pilot acts as an intelligent partner for finance professionals. MO AI enables finance professionals to handle complex, multi-entity, multi-currency workflows using simple, natural language. From retrieving account balances and initiating transactions to analysing cross-border payments and generating reports, MO AI delivers instant, contextual responses, transforming fragmented workflows into a unified, real-time experience. David Hanna, CEO, Finmo said, 'MO AI reflects the kind of meaningful innovation we aim for at Finmo - solving real-life treasury challenges with intelligent, usable tech. Our team has combined automation, AI, and deep financial insight to deliver tools that empower finance professionals to operate more strategically.' At the core of MO AI is a custom-built architecture that goes beyond traditional AI assistants. It combines real-time data integration, contextual financial understanding, and action execution via Finmo's proprietary Model Context Protocol. This foundation enables MO AI Co‑Pilot to interpret finance-specific language, support enterprise-grade authorisation flows, and securely execute transactions with full traceability. Raj Vimal Chopra, Co-founder & Chief Technology Officer, Finmo said 'We built MO AI as a domain-specific AI system to tackle the operational complexities of global treasury management. By fusing generative AI, advanced large language models (LLMs), and Finmo's high-fidelity treasury infrastructure, MO delivers deep intelligence with real-world utility. It understands treasury nuances, enforces strict access controls, and executes real-time actions with full auditability, ensuring security, compliance, and explainability at every step' Unlike generic AI applications, MO AI was trained on years of real financial transaction data and decision-making patterns. Its foundation blends generative AI with domain specific intelligence to respond to the pace and precision finance teams require. The MO AI co-pilot enhances day-to-day treasury workflows by automating tasks like payment approvals and forecasting. Akhil Nigam, Co-founder & Chief Product Officer, Finmo said 'We build products to solve real treasury problems. MO AI has been designed to think like a CFO function. It's built to understand the urgency, structure, and decision logic behind every action. Our goal was to move beyond automation and create an intelligent partner; one that helps finance teams shift from reactive to proactive execution.' As finance operations grow more complex, the MO AI co-pilot is positioned to be the intelligent companion treasury teams need. Finmo sees MO AI as a foundational leap toward a new era of intelligent finance. The roadmap includes predictive capabilities aligned with market conditions, complete workflow automation, integrations across the financial tech stack, and adaptive learning tailored to individual user roles. By shifting from static reporting to intelligent decision-making, MO AI Co‑Pilot positions finance teams to lead strategically in a dynamic, global economy.
Yahoo
a day ago
- Business
- Yahoo
Singapore Fintech Finmo Launches MO AI, a Conversational Co-Pilot for Global Finance Teams
SINGAPORE, June 19, 2025 /PRNewswire/ -- Finmo, the treasury operating system for global finance teams, recently announced the launch of MO AI, a conversational assistant embedded directly within its intelligent treasury platform. Purpose-built for CFOs, controllers, and finance teams, MO AI streamlines global treasury operations, making real-time cash management, forecasting, compliance, and reporting much faster and more accurate across global operations. MO AI enables finance professionals to handle complex, multi-entity, multi-currency workflows using simple, natural language. From retrieving account balances and initiating transactions to analysing cross-border payments and generating reports, MO AI delivers instant, contextual responses, transforming fragmented workflows into a unified, real-time experience. David Hanna, CEO, Finmo said, "MO AI reflects the kind of meaningful innovation we aim for at Finmo - solving real-life treasury challenges with intelligent, usable tech. Our team has combined automation, AI, and deep financial insight to deliver tools that empower finance professionals to operate more strategically." At the core of MO AI is a custom-built architecture that goes beyond traditional AI assistants. It combines real-time data integration, contextual financial understanding, and action execution via Finmo's proprietary Model Context Protocol. This foundation enables MO AI to interpret finance-specific language, support enterprise-grade authorisation flows, and securely execute transactions with full traceability. Raj Vimal Chopra, Co-founder & Chief Technology Officer, Finmo said "We built MO AI as a domain-specific AI system to tackle the operational complexities of global treasury management. By fusing generative AI, advanced large language models (LLMs), and Finmo's high-fidelity treasury infrastructure, MO delivers deep intelligence with real-world utility. It understands treasury nuances, enforces strict access controls, and executes real-time actions with full auditability, ensuring security, compliance, and explainability at every step" Unlike generic AI applications, MO AI was trained on years of real financial transaction data and decision-making patterns. Its foundation blends generative AI with domain-specific intelligence to respond to the pace and precision finance teams require. Akhil Nigam, Co-founder & Chief Product Officer, Finmo said "We build products to solve real treasury problems. MO AI has been designed to think like a CFO function. It's built to understand the urgency, structure, and decision logic behind every action. Our goal was to move beyond automation and create an intelligent partner; one that helps finance teams shift from reactive to proactive execution." Finmo sees MO AI as a foundational leap toward a new era of intelligent finance. The roadmap includes predictive capabilities aligned with market conditions, complete workflow automation, integrations across the financial tech stack, and adaptive learning tailored to individual user roles. By shifting from static reporting to intelligent decision-making, MO AI positions finance teams to lead strategically in a dynamic, global economy. View original content: SOURCE Finmo Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Agriland
23-05-2025
- Business
- Agriland
‘Exempt all farming businesses' from UK inheritance tax
Farming families with a long-term commitment to their businesses can be easily made exempt from the UK expanded inheritance tax measures. This was the clear views expressed by Co. Down-based financial planning specialist, David Hanna, who spoke at the official launch of Newry Show 2025. Hanna said: 'It's obvious that the current Westminster government does not understand farming.' According to Hanna, the expanded inheritance tax changes, referenced by the chancellor last October, are 'the most talked-about Revenue-related measures to have had an impact on farming over the past 40 years'. 'All agricultural businesses are asset-rich and cash-poor. As a consequence, many farming families are worried about their ability to actually pay the tax should they ever be faced with the need to so. 'And there is a ripple effect to be considered within all of this. Many farm businesses will not have the confidence to invest in the future of their businesses. 'We may also see a change in the way that banks deal with their farming clients.' The Newry-based financial consultant believes there is a very clear and concise way for the UK government to amend the new tax measures. 'There is an obvious option for the chancellor to exempt all faming businesses with a clear commitment to maintain the fabric of their businesses for the benefit of future businesses,' Hanna said. 'By taking this approach, she can focus her attention on those individuals and companies that view an investment in land as simply that: an opportunity to dodge the payment of inheritance tax.' Hanna is amongst a growing number of accountants and financial planning specialists who believe that the chancellor still has time to amend the agri-focussed tax changes she specified last autumn Meanwhile, a report by the UK government's Environment, Food, and Rural Affairs (EFRA) Committee is calling on the UK government to delay announcing its final agricultural property relief (APR) and business property relief (BPR) reforms until October 2026, with the measures to come into effect in April 2027. MPs are saying that a pause in the implementation of the reforms would allow for better formulation of tax policy and provide the government with an opportunity to convey a positive long-term vision for farming. Such a development would also protect vulnerable farmers who, according to the report, would have more time to seek appropriate professional advice.
Yahoo
16-05-2025
- Business
- Yahoo
Q1 2025 Sadot Group Inc Earnings Call
Jennifer Black; Chief Financial Officer; Sadot Group Inc Operator Welcome to Sadot Group Inc. 1 2025 earnings conference call. At this time, all participants are in a listen-only mood. If anyone requires operator assistance during the conference, please press 0 on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Amy Infante, Chief Marketing Officer. You may begin. Thanks, operator. Before we get started, we would like to state that this call may include forward-looking statements pursuant to the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. To the extent that the information presented on this call discusses financial projections, information, or expectations about the business plans, results of operations, products or markets, or otherwise make statements about future events, such statements may be forward-looking. Such forward-looking statements can be identified by the use of words such as should, may, intends, anticipates, believes, estimates, projects, forecasts, expects, plans, and proposes. Although management believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading Risk factors in Sadot Group Inc's most recently filed Form 10K and elsewhere in documents that Sadot Group Inc files from time to time with the SEC. Forward-looking statements speak only as of the date of the document on which they are contained, and Sadot Group Inc., does not undertake any duty to update any forward-looking statements except as may be required by law. For this call, all numbers disclosed have been rounded to the closest 100,000, and percentages have been rounded to the closest 0.1% unless otherwise noted. All numbers disclosed in this report are the amounts attributable to Sadot Group Inc and exclude the portion related to the non-controlling interest. On this call we will refer to Sadot Group Inc. As Sadot Group or the company. With me on the call today are Sadot Group's Chief Financial Officer, Jennifer Black, and interim Chief Executive Officer David Hanna. Throughout this presentation, we will be referring to David Hanna as CEO, which his appointment begins June 2, 2025. Jennifer will be presenting prepared remarks related to Sadot Group's financials filed on May 14, 2025, and those documents may be found on the company's website, Newswire feeds, and on the SEC's, website linked from the Sadot Group's website at under the investor tab. At this point, I would like to turn it over to Sadot Group's CFO, Jennifer Black. Jennifer Black Thank you, Amy. Before I begin, please note that our financial results for the quarter ending March 30th, 2025, on Form 10Q were filed with the SEC yesterday, May 14, 2025, along with the press release on that same day. Our Sadot Agri-foods revenue was USD132.2 million in Q1. The company completed 76 transactions in Q1 across 17 different countries. Revenue increased by USD25.7 million. As compared to Q1 2024, an increase of 24.1% over 2024. Net income attributable to Sadot Group improved to USD0.9 million in Q1 2025 compared to a USD0.3 million net loss in Q1 of 2024. This is an improvement of USD1.2 million over Q1 of 2024. EBITDA rose to USD2.5 million compared to USD0.1 million in the prior period. Both basic and diluted of earnings per share, as attributable to Sadot Group was USD0.18 per share compared to a negative USD0.06 per share in the prior year. SG&A expenses were USD3.1 million this quarter, an increase of over USD1.7 million compared to last year. The increase in SG&A was mostly attributable to reclassifying some expenses from cost of goods sold to an SG&A, which better reflects the actual cost of goods sold, shifting wages for administrative personnel, insurance, and other items into the general SG&A account. Looking at our balance sheet, the company had a cash balance of USD1.9 million and working capital surplus of USD21.9 million. It is important to note that as a part of our ongoing strategy, we continue to reinvest our cash into Agri-food commodity trading business to drive revenue, growth, and acquire strategic assets. We are proud to report Q1 was our 4th consecutive profitable quarter and an improvement versus Q1 of 2024, which was our last negative quarter we reported. We believe positive changes are occurring across our business. With that, I would like to turn the call over to David to introduce himself. Thank you, Jennifer. As has been previously announced, I'm assuming the interim CEO position effective June 2, 2025. I'd like to spend a few minutes introducing myself to everyone. I joined Sadot in June of 2024, and I'm currently the executive Vice President and head of Sadot Canada. I will also be performing the dual role of interim CEO for Sadot Group. There are many moving parts of Sadot. We are a rapidly growing company. What's unique is this expansion is happening on a global basis, making it even more complex than a typical emerging company where we handle the complexities of international rules, customs, time zones, translations, etc. However, through our vast network of employees and consultants, we have been able to manage this growth to date. With this growth, it is natural for companies to experience inefficiencies between new divisions, countries, etc. So that is no different. Sadot is at a point where we need to take a hard look at how we improve our balance sheet and income statements within a controlled growth plan. I believe my background and skill set will be key in attacking these challenges head on. I have been involved in rapid growth companies in the past and fully understand the challenges. I even founded my own business focused on pulses, especially crops, distribution and trading of ingredients for the plant-based protein sector. I grew this business to over USD80 million in containers, truckloads, and rail cars to over 35 countries around the world. We developed a plant-based pet food ingredient division with sales into leading pet food manufacturers across North America, while also becoming the leading Canadian exporter of specialized peas for the pea protein extraction industry. I bring a unique skill set to the CEO role for Sadot. Not only will I bring global Agri-foods and commodity trading experience from building Agri-food businesses in excess of USD500 million annually. I will also be combining this experience directly with extensive financial experience in M&A, public and private equity and debt financing, where I was involved in transactions totaling more than USD1 billion. I believe I am a leader who can bring all the components of the top business together, both the international commodity trading business and Agri-food operations, plus the financial acumen and experience to drive shareholder value through various mechanisms, including trade finance, M&A, debt financing, operational efficiencies, and cost cutting. On a different note, if you are interested in receiving press releases and other company information automatically, please visit our website at Go under investor relations and then investor alerts and sign up for these announcements, which will be sent to your email. It's a great way to keep informed of all announcements. I'd like to turn the call back over to Jennifer to review a few questions that we have recently been asked by various parties. Jennifer Black Thanks, David. The company receives questions or comments from the investor community during the quarter, and we like to summarize and address these questions during our calls. Jennifer Black The first one we have is can you comment with an update on the general tariff environment and how it affects Sadot's business, David? There has certainly been a lot of movement on tariffs globally over the past few months. While the US tariffs cover a wide range of products, industries, and countries, we can say confidently that we do not believe tariffs will have a significant material impact on Sadot. Sadot is a global company. We have conducted Agri-commodity trades with 33 countries. The large majority of our revenue is generated outside of the United States, between other countries of origin or destination having no impact from the new tariffs. For the full year 2024, only a marginal portion of Sadot Group's global trade revenue was directly related to trades originating from or delivering into the United States. Our revenue is mostly generated by Agri-commodity trades between countries all over the world. For example, we recently announced a trade to our new South Korea subsidiary between Australia, Kenya, and other countries. Because this trade was not originating from or delivering into the United States, it was not subject to the new US tariffs. In addition, our commodity trading business model and products, which represents over 99% of total company-wide revenue, are not considered consumer discretionary items. Everyone has to eat and tariffs if they apply are costs that are usually passed through 100%. What tariffs can impact or what countries become more competitive as origins. We believe the company can manage in almost any environment due to the nature of the food related products we trade, as well as the global sourcing and distribution of our operating network. The dog group remains vigilant in monitoring the situation. And we'll provide updates should any significant material changes arise. For now, the tariffs should be considered a non-material event concerning Sadot's global business. Jennifer Black All right, thanks, David. The second question we have is kind of a continuation on the tariff subject. How have the tariffs between US and China impacted the business directly? Again, we have a flexible trading model where we can source products from different countries to satisfy demand. What we've seen is that China's demand for major products like soybeans has shifted from US origin product to other markets such as Brazil. We're studying this trade flow to capitalize on new opportunities created by the change in market dynamics, particularly where we can leverage our inland origination capabilities. Jennifer Black Thanks, David. The third question we have. The company's gross margins have been less than 1%. How are you going to improve those margins? We're looking at a number of areas where higher margins are more achievable, specifically containerized specialty crops like pulses such as lentils and beans and sesame seeds. These are lower volume products, so this strategy won't drive sales growth, but will contribute to higher gross margins as we develop those business lines. Both the Canadian and Brazilian teams are focusing primarily on these product lines. We also signed a management services agreement for a pet food ingredients processing business in Canada. While relatively small, this is a fee-based contract that has no related cost of goods sold and contributes fully to gross margin. We're continuing to look for more opportunities like this as part of our development as a company. Jennifer Black All right, the last question we have, please provide an update on the sale of the restaurant process. While the sales of restaurants are taking longer than anticipated, we are making progress, and we have multiple parties interested in acquiring the Pokemoto and MMG chains. We're finalizing a new LOI with a qualified buyer. The Pokemoto chain continues to open new locations with recent openings in California, Alabama, Florida, Connecticut, and Massachusetts. We also have new locations opening over the next few months in Claremont and Fort Lauderdale, Florida, Kingstown, Rhode Island, and Puerto Rico. We currently have 41 open locations and another roughly 60 franchise agreements that have been sold but not open to date. We continue to expand Pokemoto. The restaurant division in Q1 reported positive USD107,000 net income. While we want to complete the sales as quickly as possible, we're also trying to get the maximum value throughout the sale process. We thank all of our investors, stakeholders, and team members for your time and continued support from Sadot Group. Operator Thank you. This concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.
RNZ News
16-05-2025
- Business
- RNZ News
Social service providers support Auditor-General's report into Oranga Tamariki
money politics 25 minutes ago The country's highest watchdog has issued a scathing assessment of Oranga Tamariki's procurement and contracting practices last year. Wesley Community Action Wellington director David Hanna spoke to Charlotte Cook.
