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Theft of 18 colonoscopes worth $450G under probe, police say

It’s the type of crime that doesn’t happen every day.

Police in the suburbs of Philadelphia say three suspects broke into a medical facility in Wynnewood, Pennsylvania, last Saturday and fled with 18 colonoscopies – devices used for examining the health of patients’ colons.

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

AMERICAN SUPERMODEL PAT CLEVELAND 'STAYING STRONG' FOLLOWING COLON CANCER DIAGNOSIS

The devices were reportedly worth a total of about $450,000, authorities said.

But police were perplexed about what the suspects might have planned to do with the instruments.

"This is not something that a typical pawn shop might accept," Lower Merion Police Detective Sergeant Michael Vice told Philadelphia’s WCAU-TV. "My feeling would be that it was some type of black market sales."

Such a market apparently does exist, Lower Merion Police Superintendent Michael J. McGrath told Philly.com.

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“They appeared to know precisely where to go, and they pried the door open,” McGrath said of the suspects, who were captured on surveillance video leaving the facility, carrying bulging backpacks.

Police are hoping the suspects will be caught in the end.

Source: Fox News National

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Syria criticized US senator' comment on Golan Heights

Syria's Foreign Ministry is blasting U.S. Sen. Lindsey Graham for his comments in which he vowed to push for U.S. recognition of Israeli sovereignty over the Golan Heights calling them "arrogant" and stressing that Israeli occupation will eventually end.

The ministry's statement on Tuesday said that according to the United Nations, the Golan Heights are considered Syrian occupied lands.

The South Carolina Republican said Monday he aimed to change the current U.S.-designation of the Golan, which Israel captured from Syria in 1967, as disputed territory. He spoke during a tour of the frontier with Israeli Prime Minister Benjamin Netanyahu.

Israel annexed the Golan Heights in 1981, a move not recognized by most of the international community.

The ministry said Golan residents are determined to continue the struggle until liberation.

Source: Fox News World

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Machado says Padres were the complete package

MLB: San Deigo Padres-Manny Machado
Feb 22, 2019; Peoria, AZ, USA; San Diego Padres third baseman Manny Machado (13) answers questions from the media during an introductory press conference at the Peoria Sports Complex. Mandatory Credit: Jayne Kamin-Oncea-USA TODAY Sports

February 22, 2019

Manny Machado was unveiled at an introductory press conference on Friday and expressed how thrilled he is to be a member of the San Diego Padres.

Machado received a 10-year, $300 million deal to sign with the Padres but it was more than the big pile of cash that swayed his decision.

“I liked the game plan, from ownership to front office to the coaching staff to the players,” Machado said during a press conference in Peoria, Ariz. “The whole ‘shabam’ was so perfect.”

One of the revelations from Machado is that he is perfectly fine playing third base for the Padres.

Machado was vocal last season about how he intended to play shortstop. But while doing his homework, he understood that San Diego that has one of the top prospects in the majors on the fast track in shortstop Fernando Tatis Jr.

“That was definitely a big part of our conversation, face to face,” Padres general manager A.J. Preller said. “The biggest thing he kept coming back to was wanting to win. He said, ‘If your best club is someone else at shortstop … I’m open to playing third base.'”

Machado recalled the tutelage he got from former Baltimore Orioles shortstop J.J. Hardy when he was on the verge of reaching the majors in 2012.

“I’m just coming here, playing third base, trying to help him out like J.J. Hardy helped me out when I got called up,” Machado said. “He was a big influence. I got my (first) Gold Glove because of J.J. having that influence. Hopefully I can do the same for (Tatís).”

Machado was a four-time All-Star with Baltimore and won two Gold Glove Awards. He has topped 30 homers in each of the past four seasons and matched his career high of 37 last season when he split time between the Orioles and Los Angeles Dodgers.

The 26-year-old Machado already has 175 career homers and feels the best is about to come.

“This is just the beginning,” Machado said. “Obviously, I have put up consistent numbers as everyone knows, but at the end of the day it’s about winning games. I know the production is going to be up there. I’m going to bring it every day.

“But at this point in my career, it’s about the numbers and helping your team win, but helping others out around you makes everyone else better … makes the team better … makes the whole organization better.”

Machado’s mood dipped when a reporter asked about the “Johnny Hustle” controversy from last year’s postseason, as well as a situation where he nearly stepped on the foot of Milwaukee first baseman Jesus Aguilar.

Machado’s lack of hustle was called out by a wide range of people from industry experts to fans on social media.

“Things are going to happen,” Machado said. “You kind of just leave that in the past. You address it at the moment and move forward from there.”

–Field Level Media

Source: OANN

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Kindergartener found with handgun on school bus

School officials in Pittsburgh say a kindergartener was found with a handgun on a school bus.

Pittsburgh Public Schools spokeswoman Ebony Pugh says the gun was found in the student's backpack Monday after school was dismissed. The student attends the Pittsburgh Faison K-5 school.

Pugh says another student alerted the bus driver to the weapon, and the gun was removed without incident. She says parents were notified via the district's phone system.

Starting Tuesday, Pugh says all students will be required to pass through the school's metal detectors. Previously, only adult visitors and parents were required to do so.

Pugh says school police are investigating how the student came to possess the gun. She said in an email that "information related to specific charges" wasn't available.

Source: Fox News National

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Devin Nunes: 8 Criminal Referrals Ready, Including 3 Targeting ‘Conspiracy’ & ‘Global Leaks’

Rep. Devin Nunes, R-Calif., announced on Sunday he is ready to send eight criminal referrals to the Justice Department next week related to the origins of the Trump-Russia investigation.

“We’re prepared this week to notify the attorney general that we’re prepared to send those referrals over and brief him if he wishes to be briefed,” Nunes said on Fox News.

The ranking member of the House Intelligence Committee has been teasing a referral for months and previously predicted its delivery by the end of last week.

However, Nunes backed away from that deadline, hinting that his team of investigators found more people, potentially up to two dozen, who could be the subject of a criminal referral.

Nunes said on “Sunday Morning Futures” that the people ensnared in his eight-person referral “may not be all of them.”

Due to the classified or sensitive nature of his eight referrals, Nunes did not disclose any names, but he did break down three categories in which they fall.

“Five of them are what I would call straight up referrals so just referrals that are, that name someone and name the specific crimes. Those crimes are lying to Congress, misleading Congress, leaking classified information,” Nunes said.

The other three, he said are more complicated, related to charges of conspiracy to lie to the Foreign Intelligence Surveillance Court.

Read more

Last week, Alex Jones predicted that the Trump administration was preparing to exact justice upon the Deep State actors who propagated the Russia collusion hoax and tried to overthrow a duly elected president in a silent coup. Watch the video below to get the full story:

And last month, Trump lawyer Rudy Giuliani warned that “criminal evidence” against the Deep Staters who perpetuated the Russia hoax would come to light within “six months.”


Senator Chris Murphy has introduced bill S.3274 to fight “propaganda and disinformation“. Robert Barnes joins Alex to break down how this is actually a tactic to continue and even amplify their censorship of Christians, conservatives, and patriots.

Source: InfoWars

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20 States File Motion to Block Trump Border Wall Funding: NY Attorney General

Twenty U.S. states have filed a motion to block President Donald Trump's method of funding a border wall by diverting federal funds through a national emergency declaration, the New York state attorney general said on Friday.

"This wall is unnecessary, and an abuse of power that will take away resources that could be used to help Americans across our nation," New York Attorney General Letitia James said on Twitter.

The states filed a lawsuit in February after Trump declared a national emergency to help build a border wall that was a signature of his 2016 campaign for president. The motion for a preliminary injunction to block Trump's effort that was filed late Thursday formalized that request.

Trump's order would allow him to spend money on the wall that Congress appropriated for other purposes. Congress declined to fulfill his request for $5.7 billion to help build the wall this year.

Source: NewsMax Politics

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Transgender woman arrested in chemical spray attack eyed as hate crime in New York

A transgender woman has been arrested in connection to the random attacks of at least seven people who were sprayed with a chemical substance on Friday in New York in what is being investigated as a hate crime.

Thomas J. Heard, 37, was arrested after allegedly threatening someone with a sharp object in the Bronx, and the victim worked with police to track her down. Authorities believe that Heard also was responsible for dousing a man with a pepper spray-like substance at the 125th St. subway station of the A/C/B/D lines on Friday, then running out into the street and spraying five more people.

Soon after, she allegedly attacked another woman waiting for the No. 1 train at W. 96th St. and Broadway. Then, around 2 p.m., a woman appearing to be Heard can be seen on a surveillance video violently kicking a stranger, Denise Galloway, in the leg before spraying her and her boyfriend.

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"All of the sudden, I hear this woman yell at me from behind, 'I hate you, you expletive expletive!'," Galloway told ABC 7. "I saw her pull something out of her pocket. I didn't know if it was a gun, I didn't know if it was a knife -- I didn't know what she had." She sprayed Galloway's boyfriend, Joe Barbuto, in the eye. Heard then appears to chase Barbuto down the street and spray him again.

"She says 'I'm gonna pepper spray you' and she came around and she actually got me across my face," Barbuto said.

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Police say the believe that Heard's actions were racially motivated, because all of her victims were white. When police arrested her, they recovered pepper spray and a pair of scissors. She has reportedly been charged with assault as a hate crime, menacing as a hate crime, harassment as a hate crime and assault with criminal possession of a weapon.

Source: Fox News National

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One of Joe Biden’s newly-hired senior advisers has seemingly had a very recent change of heart.

Symone Sanders, a prominent Democratic strategist and Sen. Bernie Sanders, I-Vt., staffer in 2016, was announced as one of the big-name members of Team Biden on Thursday.

But Sanders, who has also served as a CNN contributor, is seen in resurfaced footage from November 2016 expressing her opposition to a white person leading her party after Donald Trump’s election.

“In my opinion, we don’t need white people leading the Democratic party right now,” Sanders told host Brianna Keilar during a discussion on Howard Dean potentially becoming DNC chairman.

BIDEN HIRES FORMER BERNIE SANDERS’ SPOKESPERSON AS SENIOR ADVISER

“The Democratic party is diverse, and it should be reflected as so in leadership and throughout the staff, at the highest levels. From the vice chairs to the secretaries all the way down to the people working in the offices at the DNC,” she said.

Sanders wrapped up her remarks by saying: “I want to hear more from everybody. I want to hear from the millennials and the brown folks.”

Footage of the interview was resurfaced by RealClearPolitics.

After news of her hiring broke on Thursday, Sanders backed her new boss on Twitter.

TRUMP ASSESSES 2020 DEMS; TAKES SWIPES AT BIDEN, SANDERS; DISMISSES HARRIS, O’ROURKE; SAYS HE’S ROOTING FOR BUTTIGIEG

“@JoeBiden & @DrBiden are a class act. Over the course of this campaign, Vice President Biden is going to make his case to the American ppl. He won’t always be perfect, but I believe he will get it right,” she wrote.

The hiring of Sanders has been viewed as another indication of the expected tough fight that Biden and Sanders are in for as the two frontrunners battle a deep Democratic field.

While Sanders himself didn’t torch Biden as he jumped into the race, it’s clear that many of his progressive supporters view the former vice president as a threat.

Biden’s entry into the race – at least in the early going – sets up a battle between himself and Sanders, who thanks to his fierce fight with eventual nominee Hillary Clinton for the 2016 Democratic nomination, enjoys name ID on the level of the former vice president.

BIDEN VOWS THAT ‘AMERICA IS COMING BACK,’ SPARKING ‘MAGA’ COMPARISONS

Justice Democrats — who also called Biden “out-of-touch” – is an increasingly influential group among the left of the party. They’ve championed progressive Rep. Alexandria Ocasio-Cortez of New York as well as Sanders. The group was founded by members of Sanders 2016 presidential campaign.

Biden has pushed back against the perception that he’s a moderate in a party that’s increasingly moving to the left. Earlier this month he described himself as an “Obama-Biden Democrat.”

And Biden said he’d stack his record against “anybody who has run or who is running now or who will run.”

Former Democratic National Committee chair Donna Brazile – a Fox News contributor – highlighted that “Joe Biden can occupy his own lane in large part because he’s earned it. He’s earned the right to call himself whatever.”

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But she emphasized that “elections are not about the past, they’re about the future…I do believe he has the right ingredients. The question is can he find enough people to help him stir the pot.”

Fox News Andrew O’Reilly contributed to this report.

Source: Fox News Politics

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Baltimore Mayor Catherine Pugh, who is facing increased calls for her immediate resignation, remains in poor health and is not “lucid” enough to decide whether to step down, her attorney told reporters late Thursday.

Steve Silverman, speaking outside one of Pugh’s residences which was raided by the FBI and IRS earlier in the day, said the embattled city leader could make a decision as early as next week.

“She is leaning toward making the best decision in the best interest in the citizens of Baltimore City,” he said, adding that Pugh has “several options” to consider.

“She just needs to be physically and mentally sound and lucid enough to make appropriate decisions.”

BALTIMORE MAYOR CATHERINE PUGH, ON LEAVE AMID BOOK PROBE, HAS HOMES AND CITY HALL OFFICE RAIDED BY FEDS

Silverman said Pugh met with a doctor at home Thursday and plans to do so again Friday, the Baltimore Sun reported.

In the latest image-tarnishing scandal for struggling Baltimore, the first-term Democratic mayor faces accusations that she used children’s book deals to cover up kickbacks for favorable treatment as a state lawmaker and city leader that earned her roughly $800,000 over several years.

BALTIMORE’S ACTING MAYOR SAYS HE ‘WOULD HATE TO SEE’ EMBATTLED MAYOR RETURN AFTER BOOK SCANDALS

As a state senator, 69-year-old Pugh sold $500,000 worth of her self-published “Healthy Holly” illustrated paperbacks to the University of Maryland Medical System, a major state employer whose board she sat on for nearly 20 years.

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

UMMS reportedly paid Pugh for 100,000 copies of her books between 2011 and 2018 with the stated intention of distributing the books to schools and day care centers. But some 50,000 copies remain unaccounted for and officials are probing if they were even printed.

Pugh also made $300,000 in bulk sales to other customers including health carriers that did business with the city of Baltimore.

BALTIMORE CITY COUNCIL CALLS ON EMBATTLED MAYOR CATHERINE PUGH TO RESIGN IMMEDIATELY

The politically isolated Pugh slipped out of sight on April 1 after a hastily organized press conference where she called her no-contract book deals a “regrettable mistake.” That same day, Maryland’s governor called on the state prosecutor to investigate allegations of “self-dealing.”

Pugh took an indefinite leave of absence, citing her health deteriorating intensely after a bout with pneumonia.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide. (Loyd Fox/Baltimore Sun via AP)

On Thursday morning, agents with the FBI and IRS searched her two Baltimore homes, her City Hall offices, and a nonprofit organization she once led. The home of at least one of Pugh’s aides was also scoured.

Silverman said federal agents also served a subpoena at his law firm, retrieving Pugh’s original financial records. They did not seek any attorney-client privileged communications, he said.

Pugh’s attorney said she was “emotionally extremely distraught” following the searches by FBI and IRS agents.

“There was nothing incriminating that came out of her home,” Silverman said.

UMMS spokesman Michael Schwartzberg told reporters that the medical system received a grand jury witness subpoena seeking documents and information related to Pugh.

Other probes against Pugh include a review by the city ethics board and the Maryland Insurance Administration.

BALTIMORE MAYOR’S $500G DEAL FOR ‘HEALTHY HOLLY’ CHILDREN’S BOOKS DRAWS SCRUTINY

In recent weeks, the calls for Pugh’s resignation have intensified with the strongest voice coming from Republican Gov. Larry Hogan, who did not mince words after Thursday’s early morning raids.

“Now more than ever, Baltimore City needs strong and responsible leadership. Mayor Pugh has lost the public trust,” he said. “She is clearly not fit to lead. For the good of the city, Mayor Pugh must resign.”

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall.

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall. (Jerry Jackson/Baltimore Sun via AP)

Many of her fellow Democrats, including those on Baltimore’s demoralized City Council and state lawmakers, are also insisting that Pugh put the citizens’ interests above any attempt to preserve her political career.

City Council member Brandon Scott called the Thursday raids “an embarrassment to the city.”

However, only a conviction can trigger a mayor’s removal from office, according to the city solicitor. Baltimore’s mayor-friendly City Charter currently provides no options for ousting its executive.

Six of Pugh’s staffers joined her on paid leave earlier this month; three of them were fired this week by the acting mayor.

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Pugh came to office in late 2016 after edging out ex-Mayor Sheila Dixon, who had spent much of her tenure fighting corruption charges before being forced to depart office in 2010 as part of a plea deal connected to the misappropriation of about $500 in gift cards meant for needy families.

She would certainly face a bruising 2020 Democratic primary if she were to return and run for reelection. Veteran City Council leader Bernard “Jack” Young, who is serving as acting mayor, said as she went on leave that he would merely be a placeholder. But this week, before the raids, he said “it could be devastating for her” if she tried to return.

The Associated Press contributed to this report.

Source: Fox News National

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FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad
FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad, California, U.S., April 22, 2017. REUTERS/Mike Blake/File Photo

April 26, 2019

By Amit Dave and Mayank Bhardwaj

AHMEDABAD/NEW DELHI (Reuters) – PepsiCo Inc has sued four Indian farmers for cultivating a potato variety that the snack food and drinks maker claims infringes its patent, the company and the growers said on Friday.

Pepsi has sued the farmers for cultivating the FC5 potato variety, exclusively grown for its popular Lay’s potato chips. The FC5 variety has a lower moisture content required to make snacks such as potato chips.

PepsiCo is seeking more than 10 million rupees ($142,840.82) each for alleged patent infringement.

The farmers grow potatoes in the western state of Gujarat, a leading producer of India’s most consumed vegetable.

“We have been growing potatoes for a long time and we didn’t face this problem ever, as we’ve mostly been using the seeds saved from one harvest to plant the next year’s crop,” said Bipin Patel, one of the four farmers sued by Pepsi.

Patel did not say how he came by the PepsiCo variety.

A court in Ahmedabad, the business hub of Gujarat, on Friday agreed to hear the case on June 12, said Anand Yagnik, the lawyer for the farmers.

“In this instance, we took judicial recourse against people who were illegally dealing in our registered variety,” A PepsiCo India spokesman said. “This was done to protect our rights and safeguard the larger interest of farmers that are engaged with us and who are using and benefiting from seeds of our registered variety.”

PepsiCo, which set up its first potato chips plant in India in 1989, supplies the FC5 potato variety to a group of farmers who in turn sell their produce to the company at a fixed price.

The All India Kisan Sabha, or All India Farmers’ Forum, has asked the Indian government to protect the farmers.

The farmers’ forum has also called for a boycott of PepsiCo’s Lay’s chips and the company’s other products.

The Ministry of Agriculture & Farmers’ Welfare did not immediately respond to an email seeking comment.

PepsiCo is the second major U.S. company in India to face issues over patent infringement.

Stung by a long-standing intellectual property dispute, seed maker Monsanto, which is now owned by German drugmaker Bayer AG, withdrew from some businesses in India over a cotton-seed dispute with farmers, Reuters reported in 2017. (reut.rs/2ncBknn)

(Reporting by Amit Dave in AHMEDABAD and Mayank Bhardwaj in NEW DELHI; Editing by Martin Howell and Louise Heavens)

Source: OANN

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FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the NYSE in New York
FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo

April 26, 2019

By P.J. Huffstutter and Shradha Singh

CHICAGO/BENGALURU (Reuters) – Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant’s profit, which tumbled 41 percent in the first quarter.

ADM said it was creating an ethanol subsidiary, which will include dry mills in Columbus, Nebraska; Cedar Rapids, Iowa; and Peoria, Illinois.

The ethanol subsidiary will report as an independent segment, the company said, allowing options “which may include, but are not limited to, a potential spin-off of the business to existing ADM shareholders.”

Results were hit by the “bomb cyclone” blizzards that devastated the Midwest and Great Plains this year, causing massive flooding across Nebraska, Iowa and Missouri, washing out rail lines and wreaking havoc in the moving and processing of corn, soybeans and wheat. One-sixth of U.S. ethanol production was halted.

In March, ADM warned Wall Street that flooding and severe winter weather in the U.S. Midwest would reduce its first-quarter operating profit by $50 million to $60 million.

“The first quarter proved more challenging than initially expected,” said Chairman and Chief Executive Officer Juan Luciano, with earnings down in its starches, sweeteners and bioproducts unit. Luciano said impacts of the severe weather ultimately “were on the high side of our initial estimates”.

Ongoing problems in the ethanol industry added to the problems and “limited margins and opportunities” for ADM, Luciano said.

The ethanol industry has been in the midst of a historic downswing due to the U.S.-China trade war, excess domestic supply and weak margins.

ADM, which had been an ethanol pioneer, signaled to Wall Street in 2016 that it was hunting for options and considering sales of its U.S. dry ethanol mills. Luciano told Reuters this year that offers ADM had received for the mills were too low.

In addition, ADM said it planned to repurpose its corn wet mill in Marshall, Minnesota, to produce higher volumes of food and industrial-grade starches.

Other major traders are alsy trying to distance themselves from struggling ethanol businesses. Louis Dreyfus Company BV spun off its Brazilian sugar and ethanol business Biosev in 2013. Rival Bunge sold its sugar book and has sought a buyer for its Brazilian mills since 2013.

ADM, which makes money trading, processing and transporting crops, such as corn, soybeans and wheat, has been looking to strengthen its core business. Last month it said it would seek voluntary early retirements of some North American employees and cut jobs as part of a restructuring effort.

The company expects to lower 2019 capital spending by 10 percent to between $800 million and $900 million.

Net earnings attributable to the company fell to $233 million, or 41 cents per share, in the three months ended March 31, from $393 million, or 70 cents per share, a year earlier.

Revenue fell to $15.30 billion from $15.53 billion. On an adjusted basis, the company earned 46 cents per share, while analysts on average had estimated 60 cents, according to IBES data from Refinitiv.

(Reporting by Shradha Singh in Bengaluru; Editing by Shounak Dasgupta, Chizu Nomiyama and David Gregorio)

Source: OANN

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The Slack app logo is seen on a smartphone in this illustration
FILE PHOTO: The Slack app logo is seen on a smartphone in this picture illustration taken September 15, 2017. REUTERS/Dado Ruvic/Illustration

April 26, 2019

(Reuters) – Slack Technologies Inc, operator of the popular workplace instant-messaging app, reported a loss of $140.7 million in the fiscal year ended Jan. 31, 2019, the company said on Friday in a regulatory filing ahead of its planned public market debut.

The company said its daily active users exceeded 10 million in the three months ended Jan. 31, 2019.

Slack expects to trade on the New York Stock Exchange under the symbol “SK”, it said.

The San Francisco-based company is seeking to go public via a direct listing, making it the second big technology company after Spotify Technology SA to bypass the traditional route of listing shares through an initial public offering.

A direct listing is a cheaper way of becoming a public company as the process requires fewer investment banks and therefore lower fees.

In a direct listing, however, a company does not sell any new shares to raise money. Instead, it gives existing shareholders the opportunity to cash out.

Slack is the latest in a string of high-profile technology companies looking to go public this year. Lyft Inc, Pinterest and Zoom Video Communications have completed IPOs so far in 2019.

The company is hoping for a valuation of more than $10 billion in the listing, Reuters had previously reported. Some early investors and employees have been selling the stock at around $28, valuing the company close to $17 billion, Kelly Rodriques, CEO of Forge, a brokerage company, told CNBC on Thursday.

Slack set a placeholder amount of $100 million to indicate the size of the IPO. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

Its competitors include Microsoft Teams, a free chat add-on for Microsoft’s Office365 users.

(Reporting By Aparajita Saxena and Joshua Franklin in New York; Editing by Leslie Adler and Anil D’Silva)

Source: OANN

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