Our profile from today was up double digits and close in the green.
Another urgent situation was just brought our attention this morning.
This one is sitting right in that same price range as our profile from today.
Pull up PBM immediately.
This is an extremely unique situation.
We have seen this one fall from around .50 over the last 3 weeks to where it is currently sitting just .14.
The significant event that took place today was PBM finally reversed on the back of an update from the company.
It closed up 11% on interest towards the higher side of their recent average.
Psyence Group is a life science biotechnology company listed on the Canadian Securities Exchange (CSE: PSYG), with a focus on natural psychedelics. Psyence Biomed is the world’s first life science biotechnology company traded on the Nasdaq (NASDAQ: PBM) that is focused on the development of botanical (nature derived, or non-synthetic) psilocybin-based psychedelic medicines, and works with natural psilocybin products for the healing of psychological trauma and its mental health consequences in the context of palliative care. Our name “Psyence” combines the words psychedelic and science to affirm our commitment to producing psychedelic medicines developed through evidence-based research.
Informed by nature and guided by science, Psyence Group works to develop advanced natural psilocybin products for clinical research and development.
Check out the news from today:
Psyence Group’s NASDAQ-Listed Associate, Psyence Biomed Issues Shareholder Update Recapping Recent Progress and Previewing Key Upcoming Data Milestones
PUBLISHED
Initiated Phase IIb study of nature-derived psilocybin as a potential treatment for Adjustment Disorder in Palliative Care
Expanded pipeline into Alcohol Use Disorder (AUD) and Substance Use Disorders (SUDs) through exclusive IP licensing agreement with Psylabs for its botanical psilocybin product
Announced potential acquisition of synthetic psilocybin-based drug developer Clairvoyant Therapeutics, further bolstering AUD development program
Two Phase II data readouts anticipated in 2025
NEW YORK, Sept. 18, 2024 (GLOBE NEWSWIRE) — Psyence Group Inc(“Psyence Group“) (CSE: PSYG), a life science biotechnology company pioneering the use of nature-derived psilocybin in mental health and wellbeing, is pleased to announce that its NASDAQ-listed associate, Psyence Biomedical Ltd. (Nasdaq: PBM) (“Psyence Biomed” or “PBM“), has issued a corporate update to its shareholders on September 16, 2024. According to the news release issued by Psyence Biomed, the company has achieved critical milestones with respect to its Phase IIb clinical trial which seeks to evaluate nature-derived psilocybin in conjunction with psychotherapy as a potential treatment for Adjustment Disorder in Palliative Care (being initiated in Australia), has strengthen and expanded on its clinical trial strategy, and has strengthen its financial position.
According to the news release, following the initiation of patient screening, Psyence Biomed seeks to enroll its Phase IIb study as efficiently as possible, and projects topline data availability towards the end of next year that, if positive, will support the initiation of a pivotal Phase III trial as soon as practicable thereafter. To better support this program, Psyence Biomed has partnered with Optimi Health as an exclusive supplier of GMP nature-derived psilocybin extract for future Phase III trials as well as subsequent commercialization, should negotiations between the parties be successful. The update further announces Psyence Biomed’s planned second development indication, which will evaluate GMP nature-derived psilocybin as a potential treatment for Substance Use Disorders (SUDs), including Alcohol Use Disorder (AUD), and states that it has entered into an agreement with a third party, private company, Psylabs, to be the exclusive supplier of highly purified psilocybin extract exclusively for these indications.
The news release goes on to state that Psyence Biomed has signed a conditional, binding term sheet for the proposed acquisition of psilocybin-based drug developer, Clairvoyant Therapeutics, which, if implemented, introduces a synthetic psilocybin-based therapeutic candidate that nicely complements Psyence Biomed’s ongoing nature-derived psilocybin development programs, expands the clinical pipeline into AUD, and (if successful) will transition Psyence Biomed to a commercial-stage, revenue-generating company. Finally, Psyence Biomed reports that it has entered into agreements to secure critical funding required to advance these initiates and that it expects to obtain sufficient capital to execute its strategy.
“Once again, the management team of Psyence Biomed has demonstrated that it is executing on its lead clinical program, advancing its clinical trial endeavors into a second indication and securing the resources required to execute on its overall strategy. We are pleased with the progress being made by Psyence Biomed and look forward to future updates,” said Jody Aufrichtig, Executive Chairman of the Psyence Group.
dence Biomedical, Announces Initiation of First Trial Site in Australia for its Phase IIb Study of Nature Derived Psilocybin as a Potential Treatment for Adjustment Disorder in Palliative Care
NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) — Psyence Group Inc(“Psyence Group“) (CSE: PSYG), a life science biotechnology company pioneering the use of nature-derived psilocybin in mental health and wellbeing, is pleased to announce that its NASDAQ-listed associate, Psyence Biomedical Ltd (NASDAQ: PBM) (“PBM” or “Psyence Biomed“), has successfully completed the first site initiation visit at the first Australian clinical trial site for PBM’s Phase IIb study of nature derived (non-synthetic) psilocybin as a potential treatment for Adjustment Disorder in the Palliative Care context.
According to a news release issued by Psyence Biomed on Monday, September 9, 2024, it has entered into partnerships with Fluence, a global leader in professional education and training for psychedelic therapy research, and iNGENū CRO Pty Ltd (“iNGENū”), an Australian clinical research organization (CRO), to support the study as reported in July as well as the successful export of the drug product, PEX010, to Australia, which marked a crucial step in preparation for initiation of the study. The affiliated trial site will soon commence screening patients, and the first subject is expected to be randomized into the study in October.
According to Veronika Simic, iNGENū’s Senior Clinical Project Manager, “As a leading global contract research organization that has notable experience in the execution of psychedelic clinical trials, we believe psilocybin holds great promise as a treatment for a broad range of mental health conditions with unmet needs.” “We are pleased to partner with Psyence Biomedical as they work to introduce a novel, psilocybin-based treatment to patients suffering from Adjustment Disorder following a life limiting cancer diagnosis in Palliative Care, and we are prepared to advance this rigorously designed study as efficiently as possible.”
“We are very pleased that Psyence Biomed has achieved this significant milestone in their Phase IIb study, and look forward to further updates on patient enrollment and first patient dosing,” said Jody Aufrichtig, Executive Chairman of the board of Psyence Group.
The randomized, double-blind, placebo-controlled Phase IIb study will evaluate two therapeutic doses of nature-derived psilocybin (10mg, 25mg) against an active low-dose comparator (1mg) in 87 patients in conjunction with psychotherapy.
Psyence Group currently holds 5,000,000 common shares in Psyence Biomed.
More information on Psyence Biomed’s upcoming Phase IIb clinical trial can be found at: 12624000449538p.
Psyence Group’s NASDAQ-Listed Associate, Psyence Biomedical, Announces Initiation of First Trial Site in Australia for its Phase IIb Study of Nature Derived Psilocybin as a Potential Treatment for Adjustment Disorder in Palliative Care
NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) — Psyence Group Inc(“Psyence Group“) (CSE: PSYG), a life science biotechnology company pioneering the use of nature-derived psilocybin in mental health and wellbeing, is pleased to announce that its NASDAQ-listed associate, Psyence Biomedical Ltd (NASDAQ: PBM) (“PBM” or “Psyence Biomed“), has successfully completed the first site initiation visit at the first Australian clinical trial site for PBM’s Phase IIb study of nature derived (non-synthetic) psilocybin as a potential treatment for Adjustment Disorder in the Palliative Care context.
According to a news release issued by Psyence Biomed on Monday, September 9, 2024, it has entered into partnerships with Fluence, a global leader in professional education and training for psychedelic therapy research, and iNGENū CRO Pty Ltd (“iNGENū”), an Australian clinical research organization (CRO), to support the study as reported in July as well as the successful export of the drug product, PEX010, to Australia, which marked a crucial step in preparation for initiation of the study. The affiliated trial site will soon commence screening patients, and the first subject is expected to be randomized into the study in October.
According to Veronika Simic, iNGENū’s Senior Clinical Project Manager, “As a leading global contract research organization that has notable experience in the execution of psychedelic clinical trials, we believe psilocybin holds great promise as a treatment for a broad range of mental health conditions with unmet needs.” “We are pleased to partner with Psyence Biomedical as they work to introduce a novel, psilocybin-based treatment to patients suffering from Adjustment Disorder following a life limiting cancer diagnosis in Palliative Care, and we are prepared to advance this rigorously designed study as efficiently as possible.”
“We are very pleased that Psyence Biomed has achieved this significant milestone in their Phase IIb study, and look forward to further updates on patient enrollment and first patient dosing,” said Jody Aufrichtig, Executive Chairman of the board of Psyence Group.
The randomized, double-blind, placebo-controlled Phase IIb study will evaluate two therapeutic doses of nature-derived psilocybin (10mg, 25mg) against an active low-dose comparator (1mg) in 87 patients in conjunction with psychotherapy.
Psyence Group currently holds 5,000,000 common shares in Psyence Biomed.
More information on Psyence Biomed’s upcoming Phase IIb clinical trial can be found at: 12624000449538p.
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We have another profile that we wanted to bring to your attention immediately.
We profiled this company a few times in the past year. You may remember it from back in Late November when we showed you this one while it was siting at just .36. It went on a massive run throughout December and January and just recently hit 1.22 for an incredible 200%+ run over several weeks. We saw it run again in February up to 1.49.
This has been one of the biggest profiles of the past year on news letter.
Pull up SVRE immediately.
It has pulled back as of late with a lot of the small caps but may be in a position where it may have bottomed out here around these levels.
You are going to want to research it right away before the open.
Founded in 2014 with a mission to make roads safer for drivers, passengers, and pedestrians alike, SaverOne develops cellular network-based technological solutions for reducing road accidents.
Our innovative system for identifying and limiting the use of certain apps on mobile devices while operating a vehicle has already been widely adopted by dozens of companies in Israel.
SaverOne is also developing an additional system that can detect and warn the driver of VRU’s (Vulnerable Road Users and pedestrians) crossing when the driver’s field of vision is extremely limited. This system is currently in advanced stages of development.
Located in Israel, the company currently employs over 50 employees in its research and development, sales, business, operations, and support departments.
This one has traded on the NASDAQ since 2020 (TASE: SVRE Nasdaq: SVRE)
SaverOne’s product portfolio addresses two main automotive segments:
After-market segment: protecting existing cars, trucks, and buses; working with vehicle fleets.
Pre-Market OEM segment: integrating SaverOne’s Protection technology in the vehicle assembly line.
SaverOne’s system is installed in vehicles to provide a solution to the problem of driver distraction, as a result of drivers using distracting applications on the mobile phone while driving, in a way that endangers their safety and the safety of their passengers. This phenomenon is considered one of the main causes of road accidents in the world. According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States, stands at about $870 billion each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving. SaverOne’s technology specifically recognizes the driver area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (e.g. navigation), without user intervention or consent, creating a safer driving environment.
SaverOne’s primary target markets include commercial and private vehicle fleets that are interested in reducing potential damages and significant cost, vehicle manufacturers that are interested in integrating safety solutions to their vehicles, and insurance and leasing companies. SaverOne initially addresses car fleets with focus on the Israeli, European and US markets, as well as other markets around the world. SaverOne believes that ultimately increased focus on monitoring and prevention of cellular distraction systems in vehicles, in particular driven by upcoming expected EU regulation, will likely have a dramatic positive impact on the demand for its systems in the future.
The Company’s strategy is to provide its technology for installation to customers in the aftermarket as well as address OEM vehicle manufacturers, to install the Company’s protection technologies during the vehicle manufacturing process.
SaverOne Launches Four Pilot Projects with Customers of Volvo Buses Mexico
PUBLISHED
SEP 17, 2024 8:00AM EDT
Petah Tikvah, Israel, Sept. 17, 2024 (GLOBE NEWSWIRE) — SaverOne2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced the launch of four new pilot projects with customers of Volvo Buses Mexico. This follows the OEM agreement signed with Volvo Group in March 2024, which allows for the SaverOne Safety Solution to be pre-installed following integration into Volvo’s assembly line as well as an aftermarket retrofit installation.
The pilots cover a total of 20 buses which will be retrofitted with SaverOne’s innovative technology, which is designed to actively prevent bus drivers from being distracted by their mobile phones. The pilots will be conducted in two regions: Mexico City, focusing on intercity buses, and Monterrey, focusing on city buses.
Volvo Buses, a subsidiary of the major Swedish vehicle maker Volvo Group, is one of the world’s largest bus manufacturers, offering a complete range of heavy buses for passenger transportation.
Mr. Ori Gilboa, CEO of SaverOne, commented, “We are incredibly proud of our developing collaboration with Volvo Buses, a major bus manufacturer and leader in the transportation sector. These pilot projects in Mexico are the initial fruits of our recent OEM agreement with Volvo Group and marks a significant step forward in SaverOne’s ongoing activities to broaden its global reach. Furthermore, this OEM agreement provides for significant potential to extend our collaboration with other Volvo subsidiaries throughout the world.”
Continued Mr. Gilboa, “These four new customers are important bus operators in Mexico and the potential from these pilots are hundreds of additional buses. As these pilots demonstrate, in 2024, we are becoming increasingly successful at broadening our operations across multiple regions, including Europe, the United States and Mexico. We see immense further potential in our Volvo Bus collaboration, and we are excited about the possibilities it holds for the future.”
How the system works
When the driver enters the vehicle, the system detects the cell phone in the driver’s area and connects to the SaverOne application.
When the vehicle starts moving, SaverOne shifts the phone to safe mode, preventing the use of all distracting applications (such as text messages or email), while allowing the use of non-distracting applications (companies can pre-define which applications can be used while driving).
Other passengers in the car can use their cell phones freely. If the phone in the driver’s area is not connected to the system, an alert sounds, reminding the driver to reconnect or place the phone outside the driver’s area.
While in Safemode, incoming messages are not displayed on the phone. Instead, the sender receives a pre-defined automatic message, such as: “I am driving and protected by SaverOne. You are welcome to call” (the message can be customized).
The Safemode is canceled once the vehicle stops, allowing full phone use.
When the engine is turned off, the driver will see all the messages that were not displayed while driving. The Child Reminder feature is activated, reminding the driver to check the back seat.
Pilot Programs Grow
Take penetrations into new markets and customers for starters. During the year the tech company launched pilot projects in the U.S., Europe and the Gulf region. As of the end of August, more than 4,300 new systems have been ordered by customers with about 3,000 already installed.
Some of its key alliances include MOU with IVECO, the commercial vehicle brand of Iveco Group, which it inked in the summer. IVECO will integrate SaverOne’s technology into their vehicles, aimed at enhancing road safety. SaverOne reports that it expects a final OEM deal to be signed between SaverOne and IVECO in the near term.
More recently, SaverOne announced a new pilot with Milan-based Systems Logistics, an Italian designer, manufacturer and provider of automated warehousing with customers in Europe, America and Asia. The company has a fleet of over 100 vehicles. The pilot is taking place on a number of vehicles from Systems Logistics’ fleet. If the pilot goes off without a hitch, Systems Logistics could add SaverOne’s technology to more vehicles in its fleet.
It marks the second recent pilot SaverOne has in Italy. SaverOne also announced that Tecne Autostrade, the engineering company of Gruppo Autostrade per l’Italia, a leading concessionary in Europe for the construction and management of toll motorways started a pilot program with SaverOne. The pilot will involve the integration of SaverOne’s Driver Distraction Prevention System (DDPS) into an initial 10 vehicles. The whole Tecne Groupfleet comprises about 3,000 vehicles, underscoring the potential strong opportunity for SaverOne. The region has been a focus area for SaverOne which also has deals with Italantin Country Partner and GVZ as well.
SaverOne Reports First Half 2024 Results
PUBLISHED
AUG 27, 2024 4:01PM EDT
PETAH TIKVAH, Israel, Aug. 27, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a company developing and deploying transportation safety and advanced driver-assistance systems (ADAS) technologies and solutions, today presented its results for the first half ended June 30, 2024 and shared recent business updates.
Recent Highlights
Significant reduction in first half operating expenses of NIS 2.3 million ($612 thousand), reducing operating loss and cash burn;
4,800 systems have been ordered by customers as of August 26, 2024, of which approximately 3,750 have been installed;
OEM Agreement Signed with Volvo Group to install SaverOne Systems during the manufacturing process in Volvo Buses in Mexico;
OEM Agreement Signed with IVECO to develop a software-as-a-service solution to prevent driver distraction from cellphone use, with first IVECO vehicles with integrated SaverOne software solution expected to be delivered in early 2025;
Announced spinoff to advance development on the VRU Sensor Solution with estimated annual market potential of $1.5 billion by 2035;
Purchase orderfrom IVECO for a proof-of-concept (POC) for the VRU sensor for their Advanced Driver-Assistance System (ADAS);
Launched a number of pilot projects for fleets in the United States, Latin America and Europe.
Financial Highlights
Revenues of NIS 483 thousand (~$129 thousand) in the first half of 2024 versus NIS 1.5 million (~$395 thousand) in the first half of 2023;
Operating expenses reduced to NIS 15.8 million ($4.2 million) in the first half of 2024 versus NIS 18.1 million ($4.9 million) in the first half of 2023;
Net loss reduced to NIS 16.3 million (~$4.4 million) in the first half of 2024 versus NIS 17.8 million in the first half of 2023 (~$4.8 million);
June 30, 2024 cash and cash equivalents of NIS 11.3 million (~$3.0 million).
Management Comment
Commented Mr. Ori Gilboa, CEO of SaverOne, “2024 has been challenging for SaverOne due to longer sales cycles in our home market of Israel. On the positive side, we are witnessing a broadening of our activities internationally through our partners, OEMs and new regional distributors. We are working to expand our global footprint with key existing customers by penetrating their international subsidiaries. We have also initiated new pilot projects in the United States, Europe and Latin America and have also secured initial commercial orders. International expansion requires significant effort, and in 2024, we have made substantial progress in establishing SaverOne as a global business. We remain optimistic and expect a renewed growth trend in the coming months.”
Continued Mr. Gilboa, “During the quarter, we announced our plans for a spinoff company focused on advancing our VRU (Vulnerable Road User) sensor solution, which represents a significant opportunity for us. This decision was based on a comprehensive analysis by a world leading consultancy firm, which estimated the addressable annual market potential for our VRU product at $1.5 billion by 2035. Additionally, we received a new purchase order for a proof-of-concept (POC) from IVECO to integrate our VRU sensor into their Advanced Driver Assistance System (ADAS), further enhancing vehicle safety. We believe that our VRU presents significant value for SaverOne long-term.”
Recent Developments in the First Half of 2024
SaverOne to Install its System Across Entire Strauss Group Fleet. Strauss Group is one of the largest food manufacturers in Israel with a fleet of over 80 food delivery trucks. The new order covering the entire Strauss delivery fleet, follows a successful trial on 17 Strauss trucks, in which Strauss’ management noted a statistically significant reduction in accident rates in the trucks that had the SaverOne system installed.
SaverOne Signed Contract to Install its Systems on 300 Buses of Leading Israeli Transportation Company Bon Tour. Bon Tour is one of the leading private transit companies in Israel, operating hundreds of buses and providing transportation solutions and travel services to some of the largest companies in the country.
Leading Israeli Transportation Company Egged Tours Selects SaverOne’s Driver Distraction Solution System for a contract to install 300 SaverOne Systems on all of its buses. Egged Tours, operating the largest tour bus fleet in Israel, is a subsidiary of Egged Transportation, Israel’s largest bus company, with over 3,000 buses operating nationally with a vast network of urban and intercity routes.
SaverOne Granted New US Patent Strengthening its IP portfolio Supporting its Transportation Safety Solution. This marks SaverOne’s 23rd patent and describes SaverOne’s advanced algorithms and its selective blocking mechanism to prevent the driver from accessing distracting phone functionalities while the vehicle is in motion.
SaverOne Launches New Pilot Project in the United States with Motor Supply, Inc., a trucking company based in Columbia, South Carolina. SaverOne’s System was installed on a portion of Motor Supply’s fleet of sixteen trucks. The pilot is expected to run over a period of 12 months and, if successful, could potentially expand to the rest of the fleet and any future trucks that Motor Supply may operate.
GB Tours to Expand its Installation of the SaverOne System Across its Full Fleet of Public Transportation and Tour Buses. GB Tours is a leading Israel-based public transportation company that operates public transportation lines as well as tour buses with a fleet of about one hundred buses. This order for 77 buses follows the conclusion of a successful pilot of the SaverOne System on 20 of GB Tours’ buses.
OEM Agreement Signed to Install the SaverOne Safety Solution in Volvo Buses in Mexico. SaverOne’s Safety Solution will be installed in new Volvo buses that are manufactured for the Mexican market. The agreement provides Volvo with two years of exclusivity in the OEM market in Mexico. SaverOne will also provide twelve months of service and support for Volvo bus customers. After that period, Volvo bus customers will continue to receive SaverOne’s comprehensive service package for an on-going monthly fee.
SaverOne Signs Milestone OEM Agreement with IVECO to develop a solution to prevent driver distraction from cellphone use. The first IVECO vehicles with the integrated SaverOne software solution are expected to be delivered this year. IVECO and SaverOne will also collaborate within their service centers to offer comprehensive support for drivers that use this technology. SaverOne’s solution will be provided to IVECO’s customers under a software-as-a-service model.
SaverOne Expands its Collaboration with IVECO with its Vulnerable Road User Solution. Receives New Purchase Order for a vulnerable road user (VRU) proof-of-concept (POC). The POC will present SaverOne’s radio frequency (RF)-based solution that could be integrated in the vehicle Advanced Driver Assistance System (ADAS) to enhance vehicle safety. This solution is expected to be installed in one of IVECO’s vehicles in Europe in early 2025.
SaverOne Granted New European Patent encompassing SaverOne’s innovative system and groundbreaking methods that employ machine learning and channel fingerprinting techniques.
SaverOne: External Analysis Projects Annual $1.5 Billion Market Potential by 2035 for its RF-ADAS Technology. Announced spinoff company dedicated to advancing VRU sensor solution following the conclusion of a comprehensive project completed by a leading global consultancy firm which analyzed the addressable market potential, as well as the initial interest from OEMs. The consultancy firm’s analysis projects a market potential annually of $1.5 billion by 2035.
Global Food Manufacturer Expands Installation of SaverOne Protection System. Follow-on order for 50 SaverOne Systems by the Israeli subsidiary of a leading global food manufacturer, for installation in their employee vehicles. This new order follows several successful trial phases and a prior order in November 2022, during which 80 employee vehicles in Israel were equipped with the SaverOne system.
Global Food Manufacturer Adopts SaverOne System for Supply Chain Truck Protection. Following the successful completion of a pilot of SaverOne Systems’ on the customer’s trucks, an integral part of their supply chain in Israel, the customer ordered 46 SaverOne Systems. The customer is the Israeli subsidiary of one of the world’s top food manufacturers.
Egged Tours Broaden Installation of SaverOne System Across its Entire Bus Fleet. The follow-on project will install the SaverOne system on an additional 60 buses and cover Egged Tours’ entire fleet at its central hub of 130 vehicles. Egged Tours is a subsidiary of Egged Transportation, Israel’s largest public bus fleet with over 3,000 buses, representing significant broader sales potential for SaverOne.
Financial Summary for the First Half of 2024
Revenues was NIS 483 thousand (~$129 thousand) in the first half of 2024 compared to NIS 1.5 million (~$395 thousand) for the first half of 2023. This decrease was mainly due to the longer decision-making processes by current and prospective customers in the home market of Israel.
Gross profit was NIS 85 thousand (~$23 thousand), representing gross margin of 18% in the first half of 2024 compared to NIS 467 thousand(~$124 thousand), representing gross margin of 32%, in the first half of 2023.
Research and development expenses, net were NIS 8.9 million (~$2.4 million) in the first half of 2024 compared to NIS 12.2 million (~$3.3 million) in the first half of 2023. This decrease is primarily attributable to our efforts to streamline and optimize our research and development expenses.
Selling and marketing expenses were NIS 2.4 million (~$640 thousand) in the first half of 2024 compared to NIS 1.4 million (~$385 thousand) in the first half of 2023. The increase is attributable mainly to higher marketing expenses in light of the Company’s efforts in expanding the business to international markets.
General and administrative expenses were NIS 4.5 million (~$1.2 million) in the first half of 2024, compared to NIS 4.5 million (~$1.2 million) in the first half of 2023.
Operating loss was NIS 15.7 million (~$4.2 million) in the first half of 2024, reduced in comparison to NIS 17.6 million (~$4.7 million) in the first half of 2023, primarily as a result of efforts taken by the company to reduce expenses and ongoing cash burn.
Net loss in the first half of 2024 was NIS 16.3 million (~$4.4 million), reduced in comparison to NIS 17.8 million (~$4.8 million) for the first half of 2023.
Cash and cash equivalents and short-term bank deposits as of June 30, 2024, amounted to NIS 11.3 million (~$3.0 million), compared with NIS 17.1 million (~$4.8 million) as of December 31, 2023. In July 2024, the Company secured an equity line amounting to $15 million.
The Company’s financial results are presented in accordance with IFRS as issued by the IASB.
*Unless otherwise noted, for the purposes of the presentation of financial data, all conversions from New Israeli Shekels (NIS) to U.S.dollars and from U.S. dollars to NIS were made at the rate of NIS 3.759to $1.00, based on the representative exchange rate reported by the Bank of Israel on June 30, 2024.
Froneri Israel Orders SaverOne Systems to Provide Safety Coverage for its Entire Fleet
PUBLISHED
SEP 6, 2024 8:00AM EDT
Petah Tikvah, Israel, Sept. 06, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company that develops and sells advanced transportation safety solutions, today announced that Froneri extended its agreement with SaverOne and will update and equip SaverOne systems across its entire fleet of employee vehicles and distribution trucks in Israel. Froneri was among the first companies to install the SaverOne System within its fleet to counteract driver distraction, back in 2021.
Froneri is a UK-headquartered and leading manufacturer of ice cream with global sales. The company is jointly owned by Nestle Worldwide and R&R Ice Cream.
Mr. Ori Gilboa, CEO of SaverOne, commented, “We are delighted that Froneri, an early customer of ours, is expanding its use of the SaverOne System across its entire fleet in Israel. This is a strong testament to the effectiveness and reliability of our technology in enhancing the safety of their employees and preventing accidents caused by driver distraction within Froneri’s fleet over the past three years. We look forward to expanding our partnership with Froneri, with the goal of broadening sales to some of their other subsidiaries around the world.”
Egged Tours Broaden Installation of SaverOne System Across its Entire Bus Fleet
PUBLISHED
AUG 13, 2024 8:00AM EDT
Egged Tours will be using the SaverOne System on all 130 buses at its central hub
Petah Tikvah, Israel, Aug. 13, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced that it will install its SaverOne system to prevent cell phone distractions by bus drivers in all the buses of Egged Tour’s central hub, following a successful pilot project.
The follow-on project will install the SaverOne system on 60 buses, in addition to the 70 buses already equipped with the system at Egged Tours hubs across the country. This will cover Egged Tours’ entire fleet at its central hub of 130 vehicles. SaverOne’s system will help drivers stay fully focused on driving, free from smartphone distractions, while passengers can continue to use their phones as usual.
Egged Tours is a subsidiary of Egged Transportation, Israel’s largest public bus fleet with over 3,000 buses nationwide, representing significant broader sales potential for SaverOne.
Mr. Saadi Mohand Hamoudi, Vice President of Operations and Traffic at Egged Tours, commented: “The safety of our passengers and drivers is the company’s top priority. We believe that the SaverOne system reduces the likelihood of our drivers being distracted even for a moment by their phones, which is known to be a major cause of road accidents.”
Mr. Ori Gilboa, CEO of SaverOne, commented, “After demonstrating our system’s effectiveness at Egged Tours over the past few months, we are very pleased with this follow-on order, completing the installation across their entire central hub fleet. Egged Tours has taken a significant step towards enhancing the safety of their drivers, passengers, and other road users. We look forward to further expanding our presence within the Egged organization, as well as in other public transportation companies in Israeland globally.”
Global Food Manufacturer Expands Installation of SaverOne Protection System
Follow-on order for SaverOne Systems by the Israeli subsidiary of a leading global food manufacturer represents further significant international growth potential
Petah Tikvah, Israel, July 02, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced a new order of 50 SaverOne Systems from the Israeli subsidiary of one of the world’s top food manufacturers, for installation in their employee vehicles.
This new order follows several successful trial phases and a prior order in November 2022, during which 80 employee vehicles in Israel were equipped with the SaverOne system. Feedback was reported to be very positive, noting a significant reduction in accidents among these vehicles.
Mr. Ori Gilboa, CEO of SaverOne commented, “We are very pleased with this follow-on order, especially from such a valued and strategic customer. This order underscores our product’s success among the customer’s employees and demonstrates the strong value they place on enhancing employee safety with our protection system. Furthermore, this order represents significant growth potential for SaverOne. We look forward to further penetration and broadening of sales within this customer’s global organization to additional subsidiaries around the world, as we have successfully demonstrated with some of our other multinational customers. This follow-on order is a testament to our ongoing success in executing our growth strategy and cementing relationships with some of the world’s leading companies.”
SaverOne Signs Milestone OEM Agreement with IVECO
SaverOne’s solution to be provided to IVECO’s customers under a SaaS model
Petah Tikvah, Israel, March 27, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd.(Nasdaq: SVRE, TASE: SVRE), a technology company that develops and sells transportation safety solutions, today announced that it has signed an OEM agreement with IVECO, the brand of Iveco Group N.V. (EXM: IVG) that designs, manufactures and markets light, medium and heavy commercial vehicles. The agreement seals the collaboration to develop a solution to prevent driver distraction from cellphone use.
The OEM agreement covers the integration of SaverOne’s safety technology within IVECO’s vehicles through their manufacturing line. Initially, throughout 2024, SaverOne’s software will be integrated within IVECO’s hardware. Future further evolutions, may include the integration of SaverOne’s mobile app with IVECO’s mobile app, and SaverOne’s hardware and software within IVECO’s assembly line. The first IVECO vehicles with the integrated SaverOne software solution are expected to be delivered this year.
IVECO and SaverOne will also collaborate within their service centers to offer comprehensive support for drivers that use this technology.
SaverOne’s solution will be provided to IVECO’s customers under a software-as-a-service model. It will be included in IVECO’s services portfolio and will be delivered to customers under IVECO’s commercial responsibility. Technical development and integration will be delivered by SaverOne.
Fabrizio Conicella, Head of Digital and Advanced Technology, Iveco Group, commented, “We are delighted to enter into this partnership with SaverOne, a collaboration that underscores Iveco Group’s dedication to leading the way in transportation safety and innovation. Integrating the SaverOne technology into our trucks advances our efforts to provide our customers with not only the most reliable and efficient vehicles on the market, but also the safest.”
Ori Gilboa, CEO of SaverOne, stated, “We are thrilled to sign this milestone OEM agreement with IVECO, a leading European vehicle manufacturer. We believe that this agreement represents a very significant strategic move that strongly expands our footprint in European markets. It works to integrate our advanced driver safety solution into IVECO’s manufacturing line, which allows us to directly tap into the IVECO global customer base. We look forward to a fruitful collaboration with IVECO and are excited about the positive impact our joint efforts will have on making roads safer for everyone.”
About IVECOIVECO is the brand of Iveco Group N.V. (EXM: IVG) that designs, manufactures and markets a wide range of light, medium and heavy commercial vehicles, off-road trucks and vehicles suitable for any body type.
It constantly innovates and extends its product portfolio to provide every customer with the vehicle that matches their mission precisely. Its full-line offer is designed around the Driver’s needs to deliver an excellent experience with a focus on safety and comfort. A wide range of advanced digital, connectivity-enabled services developed to help fleet owners run their fleet efficiently enhance IVECO’s complete transport solution. IVECO pursues its decarbonisation strategy through a multi-energy approach that includes the further development of bio-methane, battery electric and fuel cell technologies.
IVECO operates 7 manufacturing plants and 8 research and development centres. It counts on 3,500 sales and service points in over 160 countries, which guarantee technical support wherever an IVECO vehicle is at work.
IVECO drives the road of change by powering the transformation of the transport industry, propelled by the ambition to be the most reliable partner and full-line player for its customers.
Global Food Manufacturer Adopts SaverOne System for Supply Chain Truck Protection
New order for SaverOne Systems by the Israeli subsidiary of a leading global food manufacturer with strong international growth potential
Petah Tikvah, Israel, July 31, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced the successful completion of a pilot of SaverOne Systems’ on the customer’s trucks, an integral part of their supply chain in Israel. The customer subsequently ordered the SaverOne System, which will be installed on 46 trucks.
The customer is the Israeli subsidiary of one of the world’s top food manufacturers and recently signed a contract with SaverOne to install SaverOne systems across their full fleet of employee vehicles in Israel.
Mr. Ori Gilboa, CEO of SaverOne commented, “We are pleased that our pilot installation in which the customer tested every aspect of the system has led to this key order. This new order validates our growth strategy of cementing relationships with some of the world’s leading companies. The customer’s supply chain will be better protected from disruption due to accidents caused by driver distraction. Most importantly there remains strong international growth potential for SaverOne with this customer. We aim to further penetrate the customer’s global organization bringing our solution to the trucks of their additional subsidiaries throughout the world.”
About SaverOne’s SystemsSaverOne’s system is installed in vehicles to provide a solution to the problem of driver distraction, as a result of drivers using distracting applications on the mobile phone while driving, in a way that endangers their safety, the safety of their passengers and others on the road. This phenomenon is considered one of the main causes of road accidents in the world. According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States, stands at about $870 billion each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving. SaverOne’s technology specifically recognizes the driver area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (e.g. navigation, calls), without user intervention or consent, creating a safer driving environment.
SaverOne’s primary target markets include commercial and private vehicle fleets, including public transportation and buses, that are interested in reducing potential damages and significant cost, vehicle manufacturers that are interested in integrating safety solutions to their vehicles, and insurance and leasing companies. SaverOne initially addresses car fleets with focus on the Israeli, European and US markets, as well as other markets around the world. SaverOne believes that ultimately increased focus on monitoring and prevention of cellular distraction systems in vehicles, in particular driven by upcoming expected EU regulation, will likely have a dramatic positive impact on the demand for its systems in the future.
The Company’s strategy is to provide its technology for installation to customers in the aftermarket as well as address OEM vehicle manufacturers, to install the Company’s protection technologies during the vehicle manufacturing process.
SaverOne has developed a Vulnerable Road User (VRU) solution with the potential to significantly enhance the performance of Advanced Driver Assistance System (ADAS) sensors through a superior ability to deal with NLoS (non-line of sight) situations as well as adverse weather conditions and low-visibility. SaverOne’s technology identifies the exact location and direction of movement of the VRU via their RF footprint from their cellphone signal. This safety solution enables the avoidance of a collision by early detection VRUs such as pedestrians or cyclists in the vicinity of the vehicle.
Jacob has decades of experience in management, entrepreneurship and investments, high-tech and venture capital. He leads a large number of start-ups towards financial success.
Ori Gilboa
CEO
Ori has extensive experience in managing companies with large volumes of activity in the automotive and retail industry. He served, among others, as the CEO of the Meir Group’s automotive division, the CEO of James Richardson, and the CEO of the Negev Group and more.
Yossi Cohen
Founder and COO
Yossi brings more than 25 years of experience in the telecommunications and automotive industries. Combining in-depth business, operations and technical knowledge. Yossi has led global business, operational and technology activities over the past two decades.
Omri Hagai
CFO
Over 10 years of experience in the financial management of public companies.
Prior to SaverOne, Omri served as Director of Finance for BrainsWay & Disclosure and Reporting Controller of Israel Chemicals.
Aviram Meidan
VP of R&D
Aviram has technological experience in communications and in the interface with the automotive industry. He has over 20 years of experience in developing multidisciplinary systems and managing development groups.
Israel Eybi
Chief Marketing and Sales Officer
Over 25 years of experience in marketing, sales and business strategies.
Israel brings many years of key relevant and solid experience in the cellular IoT-automotive segments.
Prior to SaverOne, Israel served as Chief Customer Officer at the Bezeq Group, as well as Chief Customer Officer at Pelephone.
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We have a brand new profile for you to take a look at heading into Tuesday’s session.
This is a company that is sitting at that critical $1 level right now.
Pull up GAME (GameSquare Holdings) right away and start your research on it.
GAME’s mission is to revolutionize the way brands and game publishers connect with hard-to-reach Gen Z, Gen Alpha, and Millennial audiences. Their next generation media, entertainment, and technology capabilities drive compelling outcomes for creators and maximize our brand partners’ return on investment. Through their purpose-built platform, we provide award winning marketing and creative services, offer leading data and analytics solutions, and amplify awareness through FaZe Clan, one of the most prominent and influential gaming organizations in the world. With one of the largest gaming media networks in North America, as verified by Comscore, they are reshaping the landscape of digital media and immersive entertainment. GameSquare’s largest investors are Dallas Cowboys owner Jerry Jones and the Goff family.
GameSquare Holdings Reports Record 2024 Second Quarter Results
Q2 2024 proforma revenue increased 24% YoY and expanded 22% QoQ to a quarterly record of $28.6 million, reflecting value of operating enhanced platform and success of growth initiatives
Q2 2024 proforma adjusted EBITDA loss improves significantly YoY and QoQ to $5.4 million, demonstrating benefits of growth strategies and cost reduction initiatives
$2.5 million sequential improvement in proforma adjusted EBITDA, supports efforts to reach profitability by the fourth quarter of 2024 as the Company expects further revenue growth, higher gross margin and additional operating cost reductions to benefit Q3 and Q4 results
FRISCO, TX / ACCESSWIRE / August 14, 2024 / GameSquare Holdings, Inc. (NASDAQ:GAME), (“GameSquare”, or the “Company”), today announced its financial results for the three and six-months ended June 30, 2024.
Justin Kenna, CEO of GameSquare, stated, “GameSquare delivered strong growth and record quarterly revenue, demonstrating the benefits of the next generation media platform we have created. Second quarter revenue of $28.6 million increased 22% over proforma revenue for the 2024 first quarter, as we continue to focus on integrating the FaZe Clan acquisition, and benefit from accelerating momentum across many areas of our business. Highlights for the quarter include expanding demand for our Unreal Editor for Fortnite (UEFN) world building creative services, and FaZe Media’s reboot and new creator roster, which garnered over 1.2 billion views during the quarter, a 28% increase over the past three months. FaZe Clan’s engaged community, combined with GameSquare’s technology assets, and media and creative services, has developed a powerful platform that provides global brands with significant value. As a result, we are seeing more demand for our offerings and expect to achieve between $55 and $60 million in higher-margin revenue during the second half of 2024.”
“During the second quarter, we pursued initiatives aimed at optimizing our business model and driving efficiencies across our business, which resulted in a $2.5 million improvement over the past three months in proforma adjusted EBITDA. In addition, throughout 2024, we have strengthened our balance sheet by raising over $36 million of non-dilutive capital, raised $6.5 million of capital through a paid advance agreement with Yorkville Advisors Global, and repaid the balance of our $5.7 million senior secured convertible note. We believe GameSquare has never been in a stronger financial position. As we look to the second half of the year, we are extremely excited by the direction GameSquare is headed. We believe our recent results reflect a clear path to reach positive adjusted EBITDA by the fourth quarter, supported by additional revenue growth, higher gross margin, and further operating cost reductions in the second half of the year,” concluded Mr. Kenna.
Reported results for the second quarter ended June 30, 2024, compared to June 30, 2023
Revenue of $28.6 million, compared to $11.4 million
Gross profit of $4.2 million, compared to $2.8 million
Net loss of $12.0 million, compared to a net loss of $4.1 million
Adjusted EBITDA loss of $5.4 million, compared to a loss of $3.3 million
Proforma* results for the second quarter ended June 30, 2024, compared to June 30, 2023
(unless otherwise noted)
Revenue of $28.6 million, compared to $23.1 million
Gross profit of $4.2 million, compared to $4.6 million
Operating expenses of $10.0 million, or 35.1% of revenue, compared to $14.7 million or 63.6% of revenue last year
Adjusted EBITDA loss of $5.4 million, compared to a loss of $10.0 million last year, and a loss of $7.9 million for the quarter ended March 31, 2024
Adjusted EBITDA loss was 18.9% of revenue versus 43.5% of revenue last year, and 33.7% of revenue for the quarter ended March 31, 2024
* Proforma financial results includes a full quarter contribution of FaZe Clan in the 2024 periods, and includes a full quarter contribution of Engine and FaZe Clan in the 2023 periods.
Reported results for the six months ended June 30, 2024, compared to June 30, 2023
Revenue of $46.3 million, compared to $14.2 million
Gross profit of $7.6 million, compared to $4.1 million
Net loss of $17.3 million, compared to a net loss of $8.4 million
Adjusted EBITDA loss of $9.5 million, compared to a loss of $4.8 million
Proforma* results for the six months ended June 30, 2024, compared to June 30, 2023
Revenue of $52.1 million, compared to $47.2 million
Gross profit of $7.9 million, compared to $8.6 million
Operating expenses of $21.6 million, or 41.5% of revenue, compared to $32.9 million or 69.8% of revenue last year
Adjusted EBITDA loss of $13.3 million, compared to a loss of $24.3 million
Adjusted EBITDA loss was 25.6% of revenue versus 51.5% of revenue last year
* Proforma financial results includes a full year-to-date contribution of FaZe Clan in the 2024 period, and includes a full year-to-date contribution of Engine and FaZe Clan in the 2023 period.
2024 Annual Guidance
Management expects over $100 million in annual revenue and annual gross margin to range between 22.5% to 27.5% for 2024
2024’s annual guidance is based on a proforma basis and includes a full 12 months of contribution from FaZe Clan, which was acquired on March 7, 2024
When comparing the second quarter of 2024 and 2023 results of Faze Clan, the Company has removed approximately $18 million of annualized costs, and expects to remove additional costs during the second half of 2024
Management anticipates continual quarterly improvements to profitability throughout 2024 supported by sales growth, gross margin improvement, and the benefit of cost saving initiatives
FaZe Media, a GameSquare Company, Announces New Multi-Year, Multi-Million Dollar Sponsorship and Licensing Deal with G Fuel
G FUEL partnership is one of the largest transactions in GameSquare’s history
FRISCO, TX / ACCESSWIRE / September 3, 2024 / FaZe Media, one of the most prominent and influential gaming organizations in the world, and subsidiary of GameSquare Holdings, Inc. (NASDAQ:GAME), (“GameSquare”, or the “Company”), today announced a new multi-year, multi-million-dollar sponsorship and licensing deal with G FUEL, the top energy drink brand for gamers and creators. FaZe Media will receive an equity component in G FUEL as part of the contract. This new multi-million-dollar partnership is one of the largest transactions in GameSquare’s history, adding predictable revenue to the Company’s growing backlog.
To kick off the partnership, G FUEL will be the presenting sponsor for the FaZe Clan Subathon, a month-long streaming marathon running throughout September 2024. This event will set the tone for the collaboration, showcasing the power of user generator content and the influence of FaZe Clan’s creators. FaZe Media and G FUEL will also host in-person events and launch co-branded products throughout the partnership to further solidify the synergy between energy drinks and gaming culture.
“We are thrilled to partner with G FUEL and reunite these two brands that have played such a critical role in the rise of gaming and youth culture. In fact, G FUEL was FaZe Clan’s first-ever partner and sponsored the original content house. Today’s announcement is a direct result of the successful reboot of FaZe Clan under FaZe Banks’ leadership and the power of GameSquare’s platform. We are excited by the opportunities this new partnership with G FUEL represents,” stated Justin Kenna, GameSquare’s CEO.
“I’ve always felt that the original G FUEL and FaZe partnership was best-in-class, so it’s exciting to work with Banks and the FaZe team to reignite this collaboration and deepen our relationship within our diverse community of fans, customers, creators, and partners. This comes at a perfect time; with FaZe pushing boundaries and nurturing the next generation of content creators, we are continuing to innovate with new products and categories to meet the needs of our evolving customer base. As our partnership takes shape, we’re excited to drive engagement across the global gaming and creator communities,” said G FUEL CEO Bryan Crowley.
“As we focus on reconnecting with our roots, this partnership represents more than just a business deal-it’s a revival of the legendary history from the OG FaZe days. We’re excited to kick off this new chapter with G FUEL and look forward to creating content and new products together,” said FaZe Banks, CEO of FaZe Media.
G FUEL has a strong record of successful creator partnerships, crafting authentic, trend-setting formulas for gaming culture enthusiasts. This collaboration builds on a celebrated lineup of influencer-driven creations, including hits like Jynxzi, PewDiePie, Ninja, Butters, FaZe Rug, and more, paving the way for future product launches and giveaways. An early adopter, G FUEL continues to be a leader in bringing communities the best products, collectibles, and experiences for pop culture, gaming, and lifestyle enthusiasts.
The partnership emphasizes a strategic focus on content from FaZe Media’s renewed talent roster, which has been attracting rapidly growing audiences with live streaming viewership tripling in July 2024 (Stream Hatchet). The formation of FaZe Media put control back in the hands of its creators and, after a historic relaunch in April 2024, the brand’s content and community has been reignited. By partnering with G FUEL, FaZe’s talent aims to prioritize fan engagement through authentic and organic creativity.
About FaZe Clan
FaZe Clan is one of the most prominent and influential gaming organizations in the world. Created by gamers, for gamers, FaZe began in 2010 by a group of internet kids who turned their passion into a successful career path and formed a die-hard community along the way. Today, FaZe Clan represents a vast roster of creators who aim to inspire the next generation in making their dreams a reality.
FaZe operates across multiple verticals designed to reimagine gaming, sports, culture and entertainment. FaZe has partnered with blue-chip brands such as Porsche, GHOST® and McDonald’s, and record-breaking fashion and lifestyle collaborations featuring Nike, Takashi Murakami, Lyrical Lemonade and more – all centered around its top-tier talent collective with gaming rooted at the core. Reaching over 240M followers across social platforms globally, FaZe’s roster consists of world-class gamers, streamers, content creators and esports professionals known for delivering disruptive, original content and its gaming division houses 10+ competitive esports teams.
For more information, visit www.fazeclan.com, and follow FaZe Clan on Twitter, Instagram, YouTube, TikTok, and Twitch.
About G FUEL
G FUEL is a game-changing, performance-driven alternative to standard energy and hydration products. Founded in 2012, G FUEL boasts an expansive, Zero Sugar product lineup that includes its signature Energy Formula in powder tub, stick packs and ready-to-drink cans, a powderedEnergy + Protein Formula and powdered Hydration Formula. G FUEL maintains the industry’s largest and most passionate community of fans, with a global social media footprint of over 500 million followers and product distribution to over 125 countries. Thanks to its years of proven success and resonance in gaming and entertainment, G FUEL has forged iconic partnerships with pop culture creators, professional athletes, major game publishers and internationally-recognized entertainment studios.
Zoned, a GameSquare Company and 5-Hour ENERGY(R) Partners to Host First-Ever Fortnite Streamer Community Competition
Fans have the chance to represent their favorite streamer in Flavor Wars and win a $10,000 cash prize
FRISCO, TX / ACCESSWIRE / August 13, 2024 / Zoned, a GameSquare (Nasdaq:GAME) company and 5-hour ENERGY® partner to host Flavor Wars, a streamer community competition, to celebrate Fortnite’s 230 million monthly active players and its cultural phenomenon status. This pinnacle move in mainstream gaming culture gives fans the opportunity to level up their skills and represent their favorite streamer to battle it out for a $10,000 cash prize and bragging rights as the ultimate gaming fanbase.
Since gaming audiences prefer interactive and native ways of brand engagement over traditional ads, this new experience engages gamers in an innovative way that intersects one of the most popular digital game with the number one selling energy shot in the United States. 5-hour ENERGY’s® entry into Fortnite comes as the gaming industry is leveling up in scale of the audience and cultural impact, as research by Newzoohas found that 72% of 35-54s and 46% of over 55s game at least once a week.
“We understand the intense focus and energy required for competitive gaming,” said Jeff Sigouin, President and COO of Living Essentials, LLC, makers of 5-hour ENERGY®. “Flavor Wars is our way of fueling that passion and giving our consumers a truly unique way to compete with their favorite streamers and show off their Fortnite skills.”
The Flavor Wars custom Unreal Editor for Fortnite (UEFN) map launches Tuesday, August 13 at 10:30 a.m. PST. Fans will compete battle royale-style in a custom-built map by Zoned, divided into three distinct zones representing the 5-hour ENERGY® Gamer Shot flavors: Apple Bash, Pineapple Charge and Rocket Raspberry.
Each representing their favorite flavor from the Gamer Shot variety pack, team captains and popular Fortnite streamers CouRage, LEGIQN and Sparkles_QT, will lead teams of five through 12 rounds in a high-stakes ‘Zone Wars’ game mode. During rounds, players can collect in-game 5-hour ENERGY® power-ups to enhance specific in-game abilities, giving them a competitive edge. The winning team will not only claim the grand prize, but also solidify their status as the ultimate gaming champions.
“Zoned is thrilled to partner with 5-hour ENERGY® to create the Flavor Wars UEFN map and competition. Our goal is to give back to the gaming community, adding value to one of the most popular Fortnite game modes, Zone Wars, by giving players new mechanics to explore!” said Kyle Hurder, Account Director at Zoned. “The Flavor Wars map and 5-hour ENERGY® are part of the ever-growing Fortnite ecosystem, here to amplify the gaming experience and supercharge skills with Gamer Shots!”
To join the Flavor Wars, search “Flavor Wars” or search map code 9664-6397-4487 into the Fortnite search bar. Watch the competition unfold on the participating streamers’ Twitch channels starting August 13. 5-hour ENERGY’s® Gamer Variety Pack, featuring Apple Bash, Pineapple Charge, and Rocket Raspberry flavors, is available online now.
About 5-hour ENERGY®
Living Essentials launched its 5-hour ENERGY® brand in 2004. The effective formula is found in its iconic shot and a 16-ounce carbonated drink. Trusted by hard-working people to get them through a hectic day, 5-hour ENERGY® products are widely available in convenience, grocery, retail, club stores, and online outlets. 5-hour ENERGY® shots are not intended for consumption by minors.
Experienced executive in gaming, esports, and media. Former CFO at FaZe Clan. Previously at Madison + Vine, Goldman Sachs, Deloitte, and Ernst & Young, and belongs to the Institute of Chartered Accountants.
LOU SCHWARTZ – PRESIDENT
Lou brings more than two decades of experience building and leading global digital technology and media companies, including founder and CEO of Multicast Media, CEO of Total Movie (UUX), and Chief Digital Officer at WWE. Lou is an internationally recognized speaker and expert in new media and monetization.
MICHAEL MUNOZ – CFO
Mike Munoz is an experienced finance executive with 15 years of experience in public accounting and corporate finance and 8 years serving as CFO of various public companies listed on the Nasdaq and TSXV.
TYLER BLEVINS – CIO
Tyler “Ninja” Blevins is one of the most recognizable gaming and entertainment personalities in the world. With more than 74 million fans worldwide on major digital networks, Tyler “Ninja” Blevins became a pop culture phenomenon in 2018, after he streamed on Twitch playing Fortnite alongside rappers Drake, Travis Scott, and Pittsburgh Steelers wide receiver Juju Smith-Schuster.
JOHN WILK – GENERAL COUNSEL
Mr. Wilk’s career spans an appellate judicial clerkship, tenure as a special counsel for Phillips Nizer in the practice areas of entertainment, intellectual property, and new media law, and two decades of experience as in-house counsel for media and technology companies.
MATT EHRENS – CTO
Technology & product leader with a proven track record for efficiently delivering versatile and valuable technical solutions to business challenges. Previously held leadership roles at Scripps Networks Interactive (now Warner Bros. Discovery), AARP, and AOL.
SINCERELY,
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READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS. IN PREPARING THIS PUBLICATION, DEDICATED INVESTORS LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, DEDICATED INVESTORS LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. DEDICATED INVESTORS LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS DEDICATED INVESTORS LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. DEDICATED INVESTORS LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.
HOVR aims to deliver a hybrid electric 7-seat aircraft that can take off and land vertically like a helicopter
HOVR signed a LOI with JetSetGo, a regional aviation fleet operator serving the Indian market with multi- purpose mission air transport, for an initial purchase of fifty (50) Cavorite X7 aircraft with an option to purchase an additional fifty (50) aircraft for an aggregate consideration commitment of up to $500 million
We have another company that we want you to research ahead of Monday’s session.
This company is operating in one of the hottest sectors around that has been dominating the headlines in recent years.
The eVTOL (electric Vertical Take-Off and Landing) sector represents a burgeoning segment of the aviation industry focused on developing electric aircraft capable of vertical take-off and landing. These vehicles are designed to provide efficient, eco-friendly urban air mobility solutions, aiming to alleviate traffic congestion and offer new transportation options within cities.
eVTOL aircraft utilize electric propulsion systems, which contribute to reduced noise and lower emissions compared to traditional helicopters and airplanes. They employ various rotor configurations or other innovative lift technologies to achieve vertical take-off and landing.
The primary goal of eVTOL vehicles is to enhance urban mobility by providing on-demand air transport services, such as air taxis, emergency medical services, and cargo delivery. They are envisioned to operate in densely populated areas where conventional transportation infrastructure is inadequate.
You are going to want to research HOVR immediately and get it on your screen Monday morning.
HOVR is an advanced aerospace engineering company that is developing one of the world’s first hybrid eVTOL that is to be able to fly most of its mission exactly like a normal aircraft while offering industry- leading speed, range, and operational utility. HOVR’s unique designs put the mission first and prioritize safety, performance, and utility. Horizon hopes to successfully complete testing and certification of its Cavorite X7 eVTOL quickly and then enter the market and service a broad spectrum of early use cases.
HOVR was founded by an elite fighter pilot and is backed by a lifetime in military and commercial aviation experience. HOVR has assembled a team of engineers, pilots, and business specialists dedicated to expanding the possibilities of regional transportation.
HOVR aims to deliver a hybrid electric 7-seat aircraft, called the Cavorite X7, that can take off and land vertically like a helicopter. However, unlike a traditional helicopter, for the majority of its flight it will return to a configuration much like a traditional aircraft. This would allow the Cavorite X7 to fly faster, farther, and operate more efficiently than a traditional helicopter
Horizon Aircraft’s Cavorite X7 aircraft will have a gross weight of an estimated 5,500 lbs with a projected useful load of 1,500 lbs. With an anticipated maximum speed of 250 miles per hour and an average range of over 500 miles with fuel reserves, Horizon believes that this experimental aircraft, if eventually licensed for commercial use, would be well- positioned to excel in medical evacuation, critical supply delivery, disaster relief, and special military missions. The Company believes that the proposed aircraft would also be attractive for Regional Air Mobility – moving people and cargo 50 to 500 miles.
Unlike many in its category, the Cavorite X7 is being designed with a hybrid electric power system. The Company is designing the Cavorite X7 such that it could, after its vertical takeoff, re-charge its batteries enroute when it is flying in a configuration like a traditional aircraft. After a vertical landing and completion of a mission, the Company is designing the Cavorite X7 to recharge its battery array in under 30 minutes to be ready for its next mission.
Horizon believes that its innovative approach and technology will allow the Cavorite X7 to fly 98% of its mission in a very low-drag configuration like a traditional aircraft. The Company believes that flying most of the time as a normal aircraft is also safer and will make the aircraft easier to certify than other radical new eVTOL designs. The Cavorite X7 is designed to be powered by a hybrid electric system that will recharge the battery array in-flight and post-flight, while also providing significant system redundancy. The Company is continuing the testing of its 50%-scale aircraft that it believes will reduce technical risk moving forward as it continues to develop its full-scale aircraft.
USES
At Horizon Aircraft their sights are set beyond simply flying a couple of people to an airport or making commuting easier for a select wealthy few. Instead, they want to make a positive contribution to people’s lives,by developing and manufacturing this revolutionary aircraft to meet true regional transportation needs. With its anticipated flexibility, speed and extraordinary range, the Cavorite X7 is ready to be used in several vital sectors.
Securing medical services
The Cavorite X7’s agility, capacity and cabin configuration enable the medevac of seriously injured patients from accident sites or isolated areas to a hospital up to twice as fast as a conventional helicopter. It can also ensure safe, swift transfer anddelivery of organs and time-sensitive medication, as well as carrying other crucial medical supplies.
Redefining disaster response
Catastrophic weather is a growing threat to many regions around the globe. The X7 offers a prompt, effective complement to state and federal operations through search and rescue missions and supply delivery to zones affected by tornadoes, hurricanes, landslides, storms, floods, or forest fires.
Crafted for commercial convenience
In addition to its suitability for inter-city business or personal travel, the Cavorite X7 has the safety and range to provide shuttle and transportation services, plus time-sensitive cargo and goods delivery in underserved, remote regions.
Made for municipal missions
The Cavorite X7 offers a cost-effective, nimble alternative for an array of applications – from traffic observation and control, investigative usage, emergency surveillance, missing persons in the wilderness, helping to monitor crowds and circumstances at special events and co-ordinating evacuation in anticipation of catastrophic weather conditions.
Horizon Aircraft Enters into Letter of Intent to Purchase $250M of Cavorite X7 Aircraft, with an Option for up to $500M
~ Horizon Aircraft Signs Letter of Intent with JetSetGo, a Leading Regional Air Transportation Operator in India ~
TORONTO, Jan. 16, 2024 (GLOBE NEWSWIRE) — New Horizon Aircraft Ltd. (NASDAQ: HOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), a leading hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, announced today that it has entered into a Letter of Intent (“LOI”) with JetSetGo, a regional air operator servicing multiple mission profiles. This LOI allows JetSetGo to purchase 50 Cavorite X7 Aircraft at a purchase price up to $5M USD per aircraft for a total aggregate consideration of $250M USD, with an option to purchase an additional 50 aircraft for a total possible consideration of $500M USD.
Brandon Robinson, Chief Executive Officer of Horizon commented, “We are truly honoured by this commitment from JetSetGo, a leading private aviation operator with a shared vision of a more sustainable and efficient on-demand regional travel. We are confident that our Cavorite X7 eVTOL will operate sustainably and profitably across India as well as many other global locations. As a hybrid electric aircraft, there is no need to install expensive charging support equipment across the travel network; it is a machine designed for challenging, real-world operations.”
Kanika Tekriwal, JetSetGo’s CEO and co-founder, stated, “Our decision to enter into this Agreement with Horizon Aircraft was not taken lightly. We ultimately decided to partner with a company with a deep operational and aerospace technology background that will deliver a product that will help usher in a new era of sustainable air travel while also providing significant value for our customers. This partnership will help JetSetGo profitably enter new markets by leveraging the versatility of the Cavorite platform to bring about the vision of Advanced Air Mobility in India.”
About Horizon Aircraft
Horizon Aircraft is an advanced aerospace engineering company that is developing one of the world’s first hybrid eVTOL that is to be able to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Horizon’s unique designs put the mission first and prioritize safety, performance, and utility. Horizon hopes to successfully complete testing and certification of its Cavorite X7 eVTOL quickly and then enter the market and service a broad spectrum of early use cases. Visit www.horizonaircraft.com for more information.
About JetSetGo
JetSetGo, founded in 2014 by the visionary duo Kanika Tekriwal and Sudheer Perla, has been on a mission to revolutionise private air travel in India. Its core principles, putting customer needs first, maximising the value of their time, and making private aviation simple and accessible, have positioned the brand as a leading provider of on-demand private aviation services.
Headquartered in New Delhi, JetSetGo was conceived by a commitment to tackle the significant challenges within the private aviation sector. The brand has created a more transparent and accessible marketplace for private jet charter, making private jet ownership more affordable and convenient while elevating the quality and consistency of charter services. The fleet currently comprises five mid-size Hawker aircraft, meticulously tailored to the unique demands of the Indian market, and six other aircraft ranging from large cabin jets to helicopters.
The Tesla Of The Skies? 🌤️How One Company Could Be About To Change The #Aviation Industry Forever ✈️
New Horizon Aircraft (NASDAQ: $HOVR) is an advanced aerospace engineering company that's developing one of the world’s 1st hybrid eVTOL
*Successfully Completed the Business Combination with Pono Capital Three, Inc. (“Pono”) and began trading on the Nasdaq as a public company. This structural pivot permits the company to benefit from increased liquidity and capital raising options and has resulted in a powerful partnership with global reach to leverage best-in-class technology, and for future investment;
*Signed a Letter of Intent with JetSetGo, a regional aviation fleet operator serving the Indian market with multi- purpose mission air transport, for an initial purchase of fifty (50) Cavorite X7 aircraft with an option to purchase an additional fifty (50) aircraft for an aggregate consideration commitment of up to $500 million;
*Began Execution of the Transition to Forward Flight-Testing Program for the Cavorite X7 large-scale prototype. The Company continued its robust flight-testing program that is now systematically exploring transition to forward flight. This testing is proceeding very well and continues to yield positive results. It is expected that transition flight testing of the large-scale aircraft could achieve measurable results in May of 2024 with several test dates scheduled in the upcoming weeks; an
*Continued Detailed Design of the Full-Scale eVTOL Prototype. The Company applied results of from its large- scale prototype program including flight tests, wind tunnel tests, and digital twin studies to improve the full-scale aircraft design. The Company is preparing to commence assembly of the full-scale aircraft later in 2024, with testing expected to begin in 2026.
Partners and ecosystem
3C Flight Center of Excellence
Horizon Aircraft has signed a Memorandum Of Understanding (MOU) with 3C, a major technical and certification resource in the Canadian aerospace industry, to formalize collaboration on the path to certification of the Cavorite X7. This affords us expanded access to 3C’s renowned services and expertise, including: gap analysis, certification planning, certifiable design consulting, training, flight test planning and execution, and eventual airworthiness approval. The partnership is a critical step in mitigating risk and evolving the project toward an exciting and sustainable future.
Horizon Aircraft $HOVR: 🚀How Investors May Increase Exposure To Small- & Micro-Cap Over The Next Year🗓
New Horizon Aircraft (NASDAQ: $HOVR) is an advanced aerospace engineering company developing one of the world’s 1st hybrid eVTOL
THIS WEBSITE/NEWSLETTER IS OWNED SUBSIDIARY BY DEDICATED INVESTORS, LLC.
OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF SEVEN THOUSAND FIVE HUNDRED USD BY SICA MEDIA LLC FOR A ONE DAY HOVR AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS. IN PREPARING THIS PUBLICATION, DEDICATED INVESTORS LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, DEDICATED INVESTORS LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. DEDICATED INVESTORS LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS DEDICATED INVESTORS LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. DEDICATED INVESTORS LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.
THERE ARE 1.9 MILLION INDIVIDUALS WITH TYPE 1 DIABETES IN THE US. 100% OF PATIENT POPULATION REQUIRE DAILY INSULIN INJECTION. ONLY 1 OUT OF 3 CURRENTLY USE AN INSULIN PUMP
WE HAVE SEEN INSIDERS PURCHASE OVER 1 MILLION SHARES IN THE PAST 12 MONTHS WITH ZERO SALES
Modular Medical Announces FDA Clearance of the MODD1 Insulin Pump
Hello Everyone,
How about today’s profile?
It was a tremendous move, hitting 3.25 after opening at 2.38. It was still chugging up over 3 bucks as the after hours market shut down at 8.
Congrats those who took a bite out of that apple.
Pull up MODD Immediately.
You might remember this one from back in January.
We brought it to your attention at 1.87.
Since then it had been hovering between 1.50 and showing a lot of support closer to 2 bucks.
The company just announced FDA approval after the bell on Wednesday and we saw it rocket up past 2.50 on tremendous interest.
I am certain that there are going to be a lot of eyes watching this one and there is really no telling where it could move to so we are going to keep it front and center, Number 1 on our screen.
Did I mention that the Insiders are excited about this one?
FDA approval puts these guys on the map immediately. Just last year, Medtronic was willing to acquire insulin patch maker EOFlow for $738M before the deal fell through. Now that the approval has been granted, MODD may catch the eyes of some of the big industry players who can easily scale the manufacturing part of the business.
Modular Medical, Inc. (Nasdaq:MODD) is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.”
Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump.
The American Diabetes Association says that “In 2021, 38.4 million Americans, or 11.6% of the population, had diabetes.” It released a report in 2022 that estimated the annual cost of diabetes to be $412.9 billion.
“People with diagnosed diabetes now account for one of every four health care dollars spent in the U.S.” the report noted.
Citing 2020 data from the Centers for Disease Control and Prevention, MODD points out that 3.6 million Americans require daily insulin — that includes 2.9 million who use multiple daily injections (MDI) and 670,000 who use insulin pumps:
(CGM stands for ‘continuous glucose monitors’)
Of those who use MDI, research firm Seagrove Partners has found that about 25% are “almost pumpers” — “meaning that they have considered going on a pump, understand pump therapy benefits, but want something simpler that doesn’t have all the ‘bells and whistles’.”
That’s where MODD expects to come in. The company believes that existing insulin pumps are geared toward “superusers” and are “prohibitive for many to learn and manage.”
The pumps have too many complicated features that most diabetics don’t need. This increases costs and puts them out of reach for many. As the tagline on MODD’s website reads, it aims to provide “diabetes care for the rest of us.”
Modular Medical Announces FDA Clearance of the MODD1 Insulin Pump
MODD1 is a patch pump for ALL adults with Type 1 and Type 2 diabetes
Designed to be simpler and more affordable to expand access to diabetes technology for previously underserved communities
Commercial availability expected in early 2025
SAN DIEGO, CA / ACCESSWIRE / September 4, 2024 / Modular Medical, Inc. (the “Company” or “Modular Medical”) (NASDAQ:MODD), an insulin delivery system technology company preparing to launch a market expansion product with a more accessible, easier to prescribe, and easier to pay for and live with technology, today announced it has received U. S. Food and Drug Administration (“FDA”) clearance to market and sell its MODD1 pump in the United States. With its commercial manufacturing infrastructure substantially established, the Company anticipates the MODD1 should be available for sale in early 2025.
“For too long, the benefits of superior glycemic control achieved by insulin pumps have, due to cost and complexity, been restricted to only the most sophisticated, motivated and well-insured users. The goal of Modular Medical has always been to change this by making diabetes technology accessible and affordable to underserved communities. We seek to make the experience of going ‘on a pump’ simpler and less intimidating and to widen the base beyond the current pump users,” said Jeb Besser, CEO of Modular Medical.
“I want to thank our employees for their hard work and dedication in bringing this product to the market and our shareholders for their ongoing support of the Company. We will continue to deliver on our mission of enabling ‘diabetes care for the rest of us’ and delivering on the needs of all patients and clinicians,” added Paul DiPerna, Chairman and President of Modular Medical.
Modular Medical will hold a conference call to discuss the clearance of the MODD1 pump, as well as next steps and milestones. Details for the conference call will be announced when available.
Modular Medical Announces Conference Call to Discuss FDA Clearance of the MODD1 Insulin Pump
ACCESSWIRE· Modular Medical,
Modular Medical, Inc.
Wed, Sep 4, 2024 at 6:57 PM EDT2 min read
SAN DIEGO, CA / ACCESSWIRE / September 4, 2024 / Modular Medical, Inc. (the “Company” or “Modular Medical”) (NASDAQ:MODD), an insulin delivery system technology company preparing to launch a market expansion product with a more accessible, easier to prescribe, and easier to pay for and live with technology, today announced it will hold a conference call and webcast tomorrow, Thursday, September 5, 2024, at 8:30 a.m. Eastern Time to discuss the U. S. Food and Drug Administration (“FDA”) clearance of its MODD1 pump, as well as next steps and milestones.
Conference Call and Webcast Information Date: September 5, 2024 Time: 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) Conference Call Number: 1-888-506-0062 International Call Number: +1-973-528-0011 Passcode: 914895 Webcast: Click Here
For those unable to listen to the live Web broadcast, an archived webcast will be available on the Company’s investor relations page at www.modular-medical.com. A replay of the conference call will also be available through September 19, 2024, and can be accessed by calling 1-877-481-4010 and using passcode 51238. International callers should dial 1-919-882-2331 and enter the same passcode at the prompt.
Modular Medical Announces Proof-of-Concept Study for Personalized Metabolic Therapy utilizing the MODD1 Platform
ACCESSWIRE· Modular M
Modular Medical, Inc.
Mon, Jul 15, 20244 min read
Pre-clinical study to explore use of MODD1 pump as a delivery system for FDA-approved, short acting peptides, as a personalized alternative for people who discontinue long-acting GLP-1 formulations
SAN DIEGO, CA / ACCESSWIRE / July 15, 2024 / Modular Medical, Inc. (NASDAQ:MODD) (“Modular Medical” or the “Company”), an insulin delivery technology company seeking to launch the next generation of user-friendly and affordable insulin pump technology, today announced a proof-of-concept study with Gubra A/S (“Gubra”) in a high-fat, diet-induced obese (“DIO”) mouse model to explore the potential future use of the MODD1 pump platform to assist patients who struggle with tolerability, inconsistent efficacy, and cost of long acting GLP-1 therapies.”A recent study published by Blue Health Intelligence using data from a national dataset of private insurers found that about half of all patients prescribed a GLP-1 drug for weight loss discontinued after the first 12 weeks, with approximately 30% discontinuing in the first four weeks,” commented Jeb Besser, Chief Executive Officer of Modular Medical. “These discontinuations appear to be due to a combination of tolerability, cost, and inconsistent efficacy. We suspect that short-acting peptides may mitigate many of these side effects and dosage swings by better modulating dosage, but these therapies have generally been abandoned as “too difficult to use” because they required multiple doses per day to be effective. We see the potential for such dosing regimes to be greatly simplified and even improved by the use of pump technology to provide both a basal dose and boluses to control hunger. Using Gubra’s gold-standard DIO mouse model, MODD will seek to determine whether an existing FDA approved, short-acting peptide delivered from a pump platform can provide a more personalized and more tolerable solution for patients who found long acting GLP-1 drugs too difficult to tolerate, while delivering comparable glycemic control and weight loss, specifically for people with type 2 diabetes and obesity.”
Michael Feigh, PhD, Vice President, Scientific Research & Sales of Gubra, commented, “We’re happy that our expertise and disease specific models are used in the assessment of Modular Medical’s novel approach to peptide therapy in diabetes and obesity.”
Modular Medical is focused on the delivery of therapeutics using patented technology with greater simplicity, lower cost and a differentiated form factor. “While long acting GLP-1 injectables have shown great results in the management of metabolic disease, we believe this research has the potential to help patients who would otherwise lose out on realizing those important clinical benefits,” commented Paul DiPerna, Chairman and President of Modular Medical. “Our simple to learn platform, basal and bolus features, and large prefill-ready reservoir make the MODD1 an ideal candidate for this potential application, once again furthering our mission of diabetes care for the rest of us.”
INSIDERS ARE CLEARLY “PUMPED” REGARDING THE FUTURE OF THE COMPANY. WE HAVE SEEN OVER 1 MILLION SHARES PURCHASED IN THE PAST 12 MONTHS WITH ZERO SALES.
MODD1 — THE ADVANCED INSULIN PUMP DESIGNED TO OPEN ACCESS
New microfluidics technology allows for low-cost pumping of insulin.
New intuitive design makes the product simple to use and easier to prescribe
90 Day Reusable
3 Day Consumable
*****Products are currently under research and development and are not available for investigational use or sale.
MODD1 SYSTEM WILL TRANSFORM THE USER/PROVIDER EXPERIENCE
EASY START
Free samples at point-ofcare, payer support, refill RX at pharmacy.
One hour training with care provider (telehealth or clinician in office)
Red, yellow and green light system on the pump indicate how it’s working.
When ready for mealtime bolus, press the button on the pump and confirm
Easy to remove simply click it off and put it back on freely (adhesive or strap).
After 90 days, seamlessly transfer settings to the next 90-day pump
EASY TO CONNECT
All data is securely stored on the cloud, easily accessed by clinicians, data access will enable coverage for diabetes management time
MODULAR MEDICAL ANNOUNCES COLLABORATION WITH GLOOKO
SAN DIEGO, CA / ACCESSWIRE / December 21, 2023 / Modular Medical, Inc. (Nasdaq:MODD) (“Modular Medical” or the “Company”), a development-stage, insulin delivery technology company seeking to launch the next generation of user-friendly and affordable insulin pump technology, today announced a collaboration agreement with Glooko, Inc., a global leader specializing in connected care and remote patient monitoring for diabetes. Integrating with Glooko will allow clinicians and patients to easily review insulin dosing data from the MODD1 pump, when commercially available. In addition, through Glooko’s platform, Dexcom CGMS users will be able to view their glucose levels in the same accessible format in conjunction with their pump data.
Glooko’s platform has a broad installed base, which has been deployed in over 30 countries and 8,000 clinical locations.
“We are extremely pleased to add the Glooko technology platform to our diabetes care system making it even easier and more cost effective for us to provide this important capability to our clinical and patient base. Glooko’s mission to improve health outcomes of people with chronic conditions through its personalized, intelligent, connected care platform fits perfectly with our vision of providing an easy to use, affordable delivery technology to give more patients access to better care,” said Jeb Besser, CEO of Modular Medical.
About Glooko
Glooko improves health outcomes of people with diabetes and related chronic conditions through its personalized, intelligent, connected care platform. Our proven technologies make lives better by revolutionizing the connection between patients and providers, driving patient engagement and adherence, and accelerating the speed of clinical trials. Glooko is globally deployed in over 30 countries and 8,000+ clinical locations. For more information, please visit glooko.com.
Paul leads the Modular Medical organization. He possesses over 30 years of experience in the medical device industry as a technologist, business executive and founder of several successful startups. He has been deeply involved in Diabetes care for the past 20 years.
Paul’s early background includes key roles at Baxter Healthcare where he worked in cell separation product design, high volume manufacturing, business development, initial startups to evaluate technology within the spaces between divisions, corporate project management and technical diligence on acquisitions. Upon leaving Baxter in 2003, Paul founded, created the technology, and was CEO and board member for a diabetes delivery innovation that bec
JAMES (JEB) BESSER
CHIEF EXECUTIVE OFFICER
23 year Managing Member, Manchester Management LLC, largest shareholder of Modular Medical, Inc.
25+ years of U.S. public equity and capital markets experience, with a focus in life science and technology
Provided long term strategic planning and due diligence, business development, and investor relations guidance to over 100 public companies
Active involvement in developing Modular Medical’s commercial go to market strategy since 2017
JAMES SULLIVAN
INTERIM CHIEF FINANCIAL OFFICER
Jim leads finance and administrative functions and brings over 30 years of financial management and accounting experience to Modular Medical. Based in Silicon Valley, he is a hands-on, seasoned CFO with significant public-company experience in hardware, software and cloud-services businesses and has completed over 15 financings. He has held CFO positions at MoSys, Inc., Apptera, Inc. and 8×8, Inc. Prior to his tenure as CFO at these companies, he held various positions in the assurance practice at PricewaterhouseCoopers LLP in New York and Silicon Valley. He holds a bachelor of science in accounting from New York University, Stern School of Business and is an active certified public accountant.
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We have a past winner back on our radar for tomorrow’s session.
This is one that you should research right away.
Pull up WISA right away.
Were you a member back in April?
If so, then you are certainly going to remember this Monster.
We brought it to your attention for the session of April 16. It opened at 2.68 and exploded the next session all the way up to 10.95!
You can see the big post split move in the middle of April that it made after the float was wiped down to crumbs.
It has been drifting on light interest and we want to put it back on your radar and watch for a bounce the rest of the week.
WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and others, the company delivers immersive wireless sound experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. WiSA Technologies, Inc. is a founding member of WiSA™ (the Wireless Speaker and Audio Association) whose mission is to define wireless audio interoperability standards as well as work with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to evangelize and market spatial audio technologies driven by WiSA Technologies, Inc. The company is headquartered in Beaverton, OR with sales teams in Taiwan, China, Japan, Korea, and California.
The company just completed a 1 for 50 reverse stock split, drastically reducing the float.
Let’s take a look at some of the catalysts:
WiSA E Expands Market Reach to 40+ million TVs with Latest HDTV Licensee
January 16, 2024 6:00am EST
WiSA Technologies Secures 5-Year WiSA E Licensing Deal with a Second Top 5 HDTV Brand
BEAVERTON, Ore.–(BUSINESS WIRE)– WiSA Association, a subsidiary of WiSA Technologies, Inc.(NASDAQ: WISA), announces its third display licensee of WiSA E software. The licensee, an international TV brand and a top three in global HDTV shipments for 2023, will now be able to provide its consumers with a range of wireless immersive audio options, including full interoperability with any of the WiSA E-enabled speakers offered by the many WiSA Association speaker brands. The 5-year license enables the licensee to incorporate WiSA E wireless immersive audio transmitter technology across all or any of its HDPTV platforms.
“We are thrilled to welcome our third display licensee for WiSA E software,” said Tony Ostrom, president of the WiSA Association. “The positive market reaction to our software has exceeded our expectations, and the enthusiasm for our licensing model has been extraordinary. We anticipate continuing to add new display licensees and fully expect the licensing model to extend into other A/V categories, such as set-top boxes.”
WiSA E offers a comprehensive array of audio features that sets the standard for optimal audio experiences across various devices such as HDTVs, soundbars, projectors, mobile devices, set-top boxes, and speakers. For licensees, WiSA E represents a fully integrated audio solution that spans the entire sound ecosystem.
WiSA E Expands Market Reach to 40+ million TVs with Latest HDTV Licensee
January 16, 2024 6:00am EST
WiSA Technologies Secures 5-Year WiSA E Licensing Deal with a Second Top 5 HDTV Brand
BEAVERTON, Ore.–(BUSINESS WIRE)– WiSA Association, a subsidiary of WiSA Technologies, Inc.(NASDAQ: WISA), announces its third display licensee of WiSA E software. The licensee, an international TV brand and a top three in global HDTV shipments for 2023, will now be able to provide its consumers with a range of wireless immersive audio options, including full interoperability with any of the WiSA E-enabled speakers offered by the many WiSA Association speaker brands. The 5-year license enables the licensee to incorporate WiSA E wireless immersive audio transmitter technology across all or any of its HDPTV platforms.
“We are thrilled to welcome our third display licensee for WiSA E software,” said Tony Ostrom, president of the WiSA Association. “The positive market reaction to our software has exceeded our expectations, and the enthusiasm for our licensing model has been extraordinary. We anticipate continuing to add new display licensees and fully expect the licensing model to extend into other A/V categories, such as set-top boxes.”
WiSA E offers a comprehensive array of audio features that sets the standard for optimal audio experiences across various devices such as HDTVs, soundbars, projectors, mobile devices, set-top boxes, and speakers. For licensees, WiSA E represents a fully integrated audio solution that spans the entire sound ecosystem.
WiSA Technologies Issues Letter to Shareholders
BEAVERTON, Ore.–(BUSINESS WIRE)– WiSA Technologies, Inc. (NASDAQ: WISA), a leading innovator in wireless audio technology for intelligent devices and next-generation home entertainment systems, issued a Letter to Shareholders.
Dear Fellow Shareholders,
I am writing to share some exciting news regarding WiSA Technologies and our upcoming Special Meeting of Stockholders on May 13, 2024.
At its core, WiSA Technologies is an innovative company, a company whose dynamic products are built on a strong R&D foundation. Over the past decade, we have been at the forefront of innovation in the audio/video entertainment space. Our bold vision to deliver a superior at-home entertainment listening experience has guided us to prioritize significant investments in R&D in order to create a company that is built to last. With this foundation firmly in place, we strongly believe that, at this juncture, we have set the stage for sustainable long-term success because we have a dynamic core product that will help us and our customers advance multichannel wireless audio to become the ubiquitous standard in the industry.
Our journey has been marked by several milestones:
Formation of a Strong Foundation: In our early years, we focused on building talented teams of R&D, sales, marketing, and management, while fostering a culture that embraced our vision.
Industry Recognition: We formed the 70+ member WiSA Association focused on standardizing the delivery of multichannel wireless audio and we showcased our technology solutions at prestigious events like CES, forging strong relationships with the world’s leading consumer electronics manufacturers.
Continuous Innovation: Year after year, we invested heavily in R&D to introduce robust technology solutions to consumer electronics manufacturers.
Today, I am proud to say that WiSA Technologies is well-positioned to transform the spatial audio industry. Culminating from our years of hard work and investment in R&D, we introduced a groundbreaking technology in 2023, WiSA E. This breakthrough represents a transformative milestone and new chapter for WiSA Technologies. Leading consumer electronics manufacturers are partnering with us to bring WiSA E to market through their channels and products by licensing our IP, which is expected to unlock new revenue streams for our company for years to come.
To realize the promise of WiSA E, we are introducing a new program, called Propel, that will consist of several strategic initiatives over the next 18 months that include:
Enhanced Value for Shareholders: Standardizing industry solutions and implementing initiatives to achieve consistent revenue performance, reduce infrastructure costs and maximize long-term shareholder value.
Revenue Growth: Creating new revenue streams that are expected to significantly impact our company’s top-line growth. This includes enhancing our WiSA E technology to attract partnerships with TV/Audio speaker and chip manufacturers, resulting in increased licensing agreements and certifications.
Path to Profitability: Developing stringent specifications compliance and close working partnerships with consumer electronics manufacturers and chip makers to produce high-volume, lower cost solutions that will deliver positive benefits to our bottom line.
Industry Leadership: Expanding interbrand operability among premier audio manufacturers and delivering premium technology solutions to mass-market audio systems. WiSA Technologies aims to solidify its position as an industry innovator through this expansion.
Strong Governance: Implementing amendments to our certificate of incorporation and bylaws. These changes are expected to provide WiSA Technologies with the flexibility and governance needed to swiftly execute and adapt to market demands.
To achieve these ambitious goals, we need your support. At the upcoming Special Meeting of Stockholders, we will be presenting several proposals that are crucial for the successful execution of our Propel program:
Proposal #1: Authorize a Reverse Stock Split Proposal #2: Approve an Amendment to the Certificate of Incorporation to Allow the Board of Directors to Amend the Bylaws Proposal #3: Approve Issuance of Shares upon Exercise of February 2024 Warrants Proposal #4: Approve Issuance of Shares upon Exercise of March 2024 Warrants Proposal #5: Consider and Act Upon Other Business
The WiSA Board of Directors and I wholeheartedly recommend that you VOTE FOR each of the proposals.
Each of these proposals is vital for us to move forward with confidence and realize the full potential of WiSA E and Propel. I urge you to read about these proposals in detail in the Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission.
Your vote is important regardless of the number of shares you own. Please take the time to vote today to ensure your vote is received prior to the special meeting on May 13, 2024. For assistance with voting your shares, please reach out to our proxy solicitor, Lioness Consulting, via email at info@lionessconsultingllc.com.
Thank you for your ongoing support of our vision and our efforts to be the industry standard for wireless innovation.
Warm regards,
Brett Moyer
CEO and Founder WiSA Technologies Inc.
WiSA Strikes Game-Changing Fifth WiSA E Licensing Deal with Global Consumer Electronics Leader
Licensing revenue will include royalty payments on transmitting (TX) software and engineering services; production targeted for the second half of 2024
BEAVERTON, Ore.–(BUSINESS WIRE)– WiSA Technologies, Inc. (Nasdaq: WISA), a leading innovator in wireless audio technology for intelligent devices and next-generation home entertainment systems, announced today the signing of a WiSA E licensing agreement with a top-three consumer electronics leader in their category. By licensing WiSA E software and embedding WiSA E’s multichannel immersive audio functionality into their source devices, the licensee will eliminate the costly burden of additional hardware and will allow their end users to activate the embedded audio functionality by purchasing speakers designed to connect with the media device. Consumer-based activation of WiSA’s immersive audio opens a new avenue of revenue generation for the company.
“This is a game changer in the industry,” said Brett Moyer, CEO of WiSA Technologies. “WiSA E will be used by a major CE manufacturer to embed high-quality immersive audio functionality in their devices – functionality that can be activated by the consumer in their home. This is significant because this new model seeds the market with WiSA E and gives the consumer the ability to upgrade their home entertainment system at any time they choose. With this model, WiSA has a built-in aftermarket revenue stream with each activation of its software. This is exactly why WiSA Technologies chose to convert its award-winning hardware into a software model.”
Under the terms of the agreement, the Company’s licensing revenue will include royalty payments on its transmitting (TX) software tied to a user’s activation of WiSA’s embedded immersive audio functionality. The activation model enables manufacturers to cost-effectively build audio-rich features which can generate aftermarket revenue from the sale of external speakers. Production devices as a result of this agreement are expected in the market in the second half of 2024.
WiSA E entails a full suite of audio features that define how audio should be experienced across HDTVs, soundbars, projectors, mobile devices, streaming media devices, and speakers. WiSA E is implementable across major SoC providers, including Realtek, Amlogic, Mediatek, and Novatek, enabling WiSA E functionality to be built into existing hardware platforms.
WiSA Inks Fourth HDTV/PTV License with Multi-billion Dollar Revenue Company, Signaling Rapid Adoption for its WiSA E Immersive Audio Technology
Simple integration with Android-based TVs and projectors seeds market for interoperable WiSA E-enabled speakers and soundbars
BEAVERTON, Ore.–(BUSINESS WIRE)– WiSA Association, a subsidiary of WiSA Technologies, Inc.(Nasdaq: WISA), announced today that it has executed its fourth 5-year WiSA E licensing agreement with a fourth major HDTV/PTV (Projection TV) brand. The WiSA E license allows the brand to integrate WiSA E software into its products, thereby offering consumers a variety of wireless immersive audio options including full interoperability with any of the WiSA E-enabled speakers offered by the many WiSA Association speaker brands.
“We are very pleased that yet another major HDTV brand recognizes the value of our WiSA E technology, as well as our licensing model for market deployment,” said Tony Ostrom, president of the WiSA Association. “With four major TV brands onboard, the market is clearly validating both our technology and our vision of enabling every immersive audio source device with low-cost capability to deliver high-quality interoperable wireless audio to consumers. We continue to pioneer a new era of audio technology for high-quality, immersive audio experiences driven by an increase in demand for exceptional wireless audio solutions.”
WiSA E entails a full suite of audio features that define how audio should be experienced across HDTVs, PTVs, soundbars, mobile devices, set top boxes, and speakers. WiSA E can be implemented across four HDTV SoC providers, including Realtek, Amlogic, Mediatek, and Novatek, and can be designed to be fully interoperable with WiSA-E enabled speakers.
For more information about WiSA E technology or the WiSA E licensing program, contact Tony Ostrom, president of the WiSA Association at tostrom@wisatechnologies.com.
Brett Moyer is a founding member of the Company and has served as the President and Chief Executive Officer of the Company and as a member of its board of directors since August 2010. From August 2002 to July 2010, Mr. Moyer served as president and chief executive officer of Focus Enhancements, Inc., a developer and marketer of proprietary video technology. From February 1986 to May 1997, Mr. Moyer worked at Zenith Electronics Inc. a consumer electronic company, where he had most recently been the vice president and general manager of its Commercial Products Division. Since June 2016, Mr. Moyer has also served as a member of the board of directors of Alliant International University, a private university offering graduate study in psychology, education, business management, law and forensic studies, and bachelor’s degree programs in several fields. From 2003 to December 2015, he served on the board of directors of HotChalk, Inc., a developer of software for the educational market, and from March 2007 to September 2008, he was a member of the board of directors of NeoMagic Corporation, a developer of semiconductor chips and software that enable multimedia applications for handheld devices. Mr. Moyer received a Bachelor of Arts in Economics from Beloit College in Wisconsin and a Master’s of Business Administration with a concentration in finance and accounting from Thunderbird School of Global Management.
Gary Williams
Chief Accounting Officer and Vice President of Finance
Gary Williams has served as Chief Accounting Officer since September 9, 2019 and as Vice President of Finance since the Company’s founding in August 2010. Mr. Williams previously served as Secretary and Chief Financial Officer since the Company’s founding in August 2010 until September 9, 2019. In addition, Mr. Williams served as the Chief Financial Officer of Quantum3D, Inc., a training and simulation technology company, from November 2012 to September 2016. Prior to joining the Company, Mr. Williams served as secretary, vice president of finance and chief financial officer of Focus Enhancements Inc., a developer and marketer of proprietary video technology, from January 2001 to July 2010, when the videography and semiconductor businesses of the company were purchased by VITEC Multimedia, Inc. and the Company, respectively. Mr. Williams served as controller, vice president of finance, chief financial officer and secretary of Videonics Inc., a publicly traded company in the consumer electronics business, from February 1995 to January 2001, when Videonics merged with Focus Enhancements, Inc. From July 1994 to January 1995, Mr. Williams served as controller for Western Micro Technology, a publicly traded company in the electronics distribution business. From January 1990 to June 1994, Mr. Williams worked in public accounting for Coopers & Lybrand LLP. Mr. Williams is a certified public accountant, inactive, and received a Bachelor’s Degree in Business Administration, with an emphasis in Accounting, from San Diego State University.
Ed Green
Vice President of Operations
Ed Green is a founding member of WiSA Technologies, Inc. serving as Vice President of Operations. Currently reporting to Mr. Green are the Production & Test Engineering, Quality and Reliability, and the IT departments. Prior to joining WiSA Technologies, Inc., Mr. Green held several positions at Network Elements Inc., Beaverton, OR. Most recently, Mr. Green was Product Line Manager for NEI’s 10 Gigabit Ethernet group. Mr. Green was the driving force behind NEI’s XENPAK, X2 and XFP programs. Over Mr. Green’s four year career at NEI, he was responsible for all design-for-test (DFT) on NEI’s 10Gb/s SERDES IC, and validation of NEI’s first multi-protocol ASIC. In 2000, Mr. Green served as Chief Operating Officer for Sunhoo.com based in Shanghai, China. There, Mr. Green was responsible for the development and implementation of the company’s business model and plan for a financial web portal in China. For the seven years prior to Sunhoo.com, Mr. Green operated a small chain of family entertainment centers. Mr. Green was responsible for all design, construction, implementation, management, and financial and corporate matters involving the company’s five stores and 70 employees. Mr. Green earned his BS in Electrical Engineering in 1983, and his MBA in Accounting in 2004.
James Cheng
Vice President of Worldwide Sales
Cheng has more than 15 years of experience leading international business development for Silicon Valley tech brands with extensive experience in ecosystem and partner development. Prior to joining WiSA Technologies, Inc., he was VP marketing and business development at Amlogic, Inc., a global fabless SoC company that provides open platform solutions for multimedia consumer devices. Prior, Cheng was director of strategic accounts at GoerTeck, Inc. and senior director of business development at Marvell Semiconductor where he was responsible for developing Google 1st party brand and ecosystem partner business. He holds a B.E. degree in electrical engineering from Tamkang University, a PhD in electrical engineering from Stony Brook University and an MBA from NYU Stern School of Business.
Keith Greeney
Vice President of Engineering
Keith Greeney is a founding member of WiSA Technologies, Inc. serving as Vice President of Engineering. Mr. Greeney manages five groups within WiSA Technologies, Inc.; Research and Development, System Testing, FW Development, Application Development, and Reference Design Development. Mr. Greeney has over 25 years of experience in Firmware, Hardware, Digital Signal Processing (DSP) and ASIC design. He began his career as a system configuration manager at Applied Research Laboratories while pursuing a BSEE from the University of Texas at Austin. Prior to joining WiSA Technologies, Inc., Mr. Greeney was a key contributor to Tektronix’ Federal Systems, the group responsible for developing the world’s first real-time digital spectrum analyzer, the Tektronix 3052. Along with algorithm design and design-for-test (DFT) responsibilities for the 3052, Mr. Greeney developed and implemented the production line. At WiSA Technologies, Inc., he is responsible for the successful design and implementation of over 10 ASICs ranging from scan converters, alpha blenders, UWB and Wireless Audio for key customers including Bang & Olufsen, Intel, and Microsoft Xbox.
Tony Ostrom
President WiSA
Tony Ostrom is the President of the Wireless Audio and Speaker Association (WiSA). His 25-year career in the consumer electronics industry has been focused on product planning and development, consumer research, technology integration, go-to-market planning, marketing, training and sales. Prior to joining WiSA Tony was the Vice President of Product Development at Klipsch Group where he managed multiple categories including Wireless Home Theater, Wireless Distributed Audio, Bluetooth and Powered Audio Solutions. Prior to Klipsch, Tony played key roles in the global launches of Powermat Wireless Charging as well as the House of Marley audio and lifestyle brand. Tony was Director of Product Development and Marketing at Klipsch Group where he drove the Mass Retail and Personal Audio categories and started his career at JL Audio where he was a Technical Director. Tony has a BA in Music Engineering and a Minor in Physics from Ball State University, Muncie Indiana.
Tony Parker
Vice President of Business Development and Strategy
Tony Parker is a founding member of WiSA Technologies, Inc. serving as Vice President of Business Development and Strategy. Mr. Parker has 25 years of experience in semiconductor marketing leadership, with extensive expertise in wireless markets, including WiFi and UWB. Prior to joining WiSA Technologies, Inc., he was director of marketing with Cirrus Logic for ARM system-on-chip solutions and audio DSP products for decoding and post processing of sound effects targeting AVR, DTV and automotive applications. Prior to that, he was senior manager of corporate strategy and technology for Agere Systems, directing and leveraging company-wide resources across multiple product families including data networking, mobile, and storage businesses. Parker also has a proven track record of developing and delivering the right products to semiconductor markets while working in key product management and marketing management positions at Texas Instruments, AT&T, and Lucent Technologies. Mr. Parker holds a BS degree in Electrical Engineering from Bradley University, Peoria Illinois, as well as an MBA degree from Syracuse University, Syracuse, NY.
SINCERELY,
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OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF SEVEN THOUSAND FIVE HUNDRED USD BY SICA MEDIA LLC FOR A ONE DAY WISA AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS. IN PREPARING THIS PUBLICATION, DEDICATED INVESTORS LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, DEDICATED INVESTORS LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. DEDICATED INVESTORS LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS DEDICATED INVESTORS LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. DEDICATED INVESTORS LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.
Blue Hat is integrating Artificial Intelligence to enhance its offerings with an intelligent gold supply chain and recycling system AKA The Virtual Gold Mining Machine
BHAT Has Multiple Revenue Streams With its Sophisticated Gold Derivatives Trading Platform
Subsidiary Golden Alpha Strategy Ltd Secures Class A License for Precious Metals and Gem Trading
Blue Hat achieved a revenue of $73.68 million in 2023, increasing 33x over the previous year from its
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Hello Everyone,
We couldn’t be more excited to roll out the profile on this next company with gold hitting all time highs again today. It has been an incredible for the world’s favorite precious metal. Right now we are seeing the perfect storm for golds impressive move with worldwide economic uncertainty, interest rates out of control, inflation tearing countries apart and the threat of WW3 or the like looming.
Gold is up over 30% the past year, making it one of the more attractive additions to a portfolio over real estate given the Curren market conditions.
Gold companies have been able to capitalize on this historic move as well.
There is one company that we want you to research before the open Thursday.
Pull up BHAT right away.
You need to research this one immediately.
It has closed green 4 sessions in a row and 6 of the last 7.
Blue Hat’s innovative approach to the gold market sets it apart from traditional players. Unlike established mining juggernauts such as Newmont, Barrick Gold, Agnico Eagle Mines, and Kinross Gold, which generate revenue primarily through gold extraction and processing, Blue Hat is focusing on optimizing the entire lifecycle of gold. The company is leveraging its technological expertise to develop an intelligent gold supply chain and recycling system, encompassing everything from sourcing and recycling to trading and supply chain management. This holistic approach positions Blue Hat as a comprehensive service provider within the gold industry.
Blue Hat is integrating Artificial Intelligence to enhance its offerings, including an intelligent gold supply chain and recycling system (earning the nickname “a virtual gold mining machine”), as well as a sophisticated gold derivatives trading platform, giving it multiple revenue channels.
The company has operations in Hong Kong, Shuibei, Shenzhen and Dubai. BHAT specializes in sourcing, refining, and trading high-quality gold. The company’s wholly-owned Hong Kong subsidiary, Golden Alpha Strategy Ltd., was recently granted Dealers in Precious Metals and Stones Category A Registration by Hong Kong Customs and Excise Department. This regulatory system, implemented by the Hong Kong government aims to combat criminal activities, with only highly vetted companies receiving the coveted designation.
In addition to sourcing gold directly from miners and gold exchanges, they are actively involved in the gold recycling sector. Their advanced gold recycling pricing algorithm, developed in partnership with leading industry experts, enables them to monitor real-time gold price fluctuations and predict market trends with precision. This sophisticated tool allows them to optimize both the pricing and quantity for gold recycling, ensuring maximum value and efficiency.
Upon acquiring gold, they extend their services to include gold leasing, leveraging our strategic position within the Shenzhen Shuibei gold market—a pivotal hub where over half of China’s gold transactions take place. Their gold leasing services cater to a diverse clientele, including gold processing factories, wholesalers, and retailers. They supply these industry participants with high-quality gold and share in the profits derived from the sale of finished gold products, fostering mutually beneficial partnerships and driving profitability.
One of the key components of Blue Hat’s strategy is its focus on digital trading solutions. These platforms allow traders to engage in the gold market without the need for physical storage or insurance, providing greater flexibility and the ability to capitalize on price movements efficiently. High liquidity on these platforms enables traders to swiftly enter and exit positions, contributing to the overall fluidity of the market—an advantage that could see Blue Hat profit in ways similar to the leading upstream players.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) Subsidiary Golden Alpha Strategy Ltd Secures Class A License for Precious Metals and Gem Trading
HONG KONG, June 05, 2024 (GLOBE NEWSWIRE) — Blue Hat Interactive Entertainment Technology, a NASDAQ listed company (hereinafter referred to as “BHAT”), recently announced that its wholly-owned Hong Kong subsidiary, Golden Alpha Strategy Ltd., has been granted Dealers in Precious Metals and Stones Category A Registration by Hong Kong Customs and Excise Department. This regulatory system, implemented by the Hong Kong government on April 1, 2023, aims to combat money laundering and terrorist financing activities. BHAT actively responds to the Hong Kong government’s policy initiative, committing itself to conducting and facilitating commodity trading of precious metals and stones under legal and compliant conditions in Hong Kong and internationally.
Mr. Chen Xiaodong, CEO of BHAT, stated: “We are honored to receive this significant international license, marking a crucial step in our business transformation and international development. This not only demonstrates our commitment to our corporate transformation but also underscores our dedication to conduct international business while fully complying with local and international laws. Moving forward, we will actively expand our business in precious metals, striving to bring more returns to our investors.”
Mr. Chen Xiaodong further added: “With the support of this license, we will closely collaborate with Macau Rongxin Precious Metals Company to advance an innovative intelligent gold supply chain and recycling system, providing gold traders with more efficient, convenient, and secure transactions and better service experiences.”
BHAT continues to emphasize innovation, optimize corporate structure and seek new growth points. The company has successfully expanded its business scope to bulk trading of gems and precious metals. In the future, BHAT will commit itself to leveraging artificial intelligence technology to facilitate commodity trading, especially in the precious metals sector.
Blue Hat Announces Financial Results for the Fiscal Year 2023, of which the Revenue Increased by 33 Times
XIAMEN, China, April 30, 2024 (GLOBE NEWSWIRE) — Blue Hat Interactive Entertainment Technology (“Blue Hat” or the “Company”) (NASDAQ: BHAT), primarily a company of commodity trading in China, today announced its audited financial results for the fiscal year ended December 31, 2023 (“Fiscal Year 2023”), reflecting a remarkable surge in the revenue.
Fiscal Year 2023 Financial Highlights
Blue Hat achieved a revenue of $73.68 million in 2023, increasing 33 times than the previous year. This extraordinary achievement is credited to the company’s robust expansion of its commodity trading business, particularly in the realms of jewelry and gold trading, since the fourth quarter of 2022. However, despite the substantial revenue growth, the company incurred a net loss of $21.72 million for the Fiscal Year 2023. The primary reasons for the loss include bad debts and asset impairment resulting from divested businesses. Notably, the Company’s new business line, commodity trading, contributed a profit of nearly $1.2 million to the company for the Fiscal Year 2023.
Management Commentary
Mr. Chen Xiaodong, CEO of Blue Hat, stated at the Company’s annual summary meeting: “Our achievements in 2023 represent not only a breakthrough in financial data, but also a resounding affirmation of Blue Hat’s business strategy transition. In 2024, we will continue leveraging on the technology and experience we have accumulated in past few years. We will deepen our commodity trading in jewelry, especially the diamond and gold trading, and meanwhile expanding online gold derivatives trading, which aim to deliver excellent performance and reward our investors. Furthermore, we are committed to embracing the era of artificial intelligence and inspired to set a new benchmark as a ‘smart’ gold trader.”
Fiscal Year 2023 Financial Results
Please refer to Blue Hat’s annual report on Form 20-F for the fiscal year ended December 31, 2023 filed with the Securities and Exchange Commission on April 30, 2024 for a detailed analysis of Blue Hat’s financial results.
Mr. Chen Xiaodong, EMBA, has more than 30 years of management experience in large and medium-sized enterprises, and has been deeply engaged in manufacturing, import and export trade, culture and communication, entertainment and technology industries, and is good at corporate strategic planning, corporate culture shaping, team building, and in 2015, he founded the Blue Hat Interactive Entertainment Technology Company Limited, which was successfully listed in the United States.
Guo Fan
Co-Chief Executive Officer & Director
Mr. Guo Fan has over 20 years of investment and transaction experience. Prior to becoming CEO, Mr. Guo was CEO of PAYI, a NASDAQ-listed online payment technology company,and a partner at Frontline Capital Asia Pacific, where he and his partners founded Fluency Capital, a quantitative trading firm in the U.S. in 2009.
Gang Yu
Dr. Yu has over 20 years of financial experience in the global financial industry, having worked as a researcher at J.P Morgan and as a strategy analyst at Goldman Sachs (Asia), Director and Principal of Strategic Asset Management Limited, whose company owns Hong Kong License Plate No. 4 and 9.Dr. Yu has a Ph.D. in Finance from New York University and an M.A. in Economics from the State University of New York.
Di Liu
Dr. Di Liu has many years of research experience and has published several highly cited academic papers and won awards. She has worked as a senior AI algorithm engineer in Aliscompany, and co-founded the “Hongzhan Huichuan No. 1” private equity fund, which is mainly responsible for quantitative algorithmic research. Dr. Di Liu holds a bachelor’s degree from SunYat-sen University and received her PhD in Engineering from Washington University in St.Louis and Virginia Commonwealth University.
SINCERELY,
DISCLAIMER
THIS WEBSITE/NEWSLETTER IS OWNED SUBSIDIARY BY DEDICATED INVESTORS, LLC.
OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF SEVEN THOUSAND FIVE HUNDRED USD BY EDM MEDIA LLC FOR A ONE DAY BHAT AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS. IN PREPARING THIS PUBLICATION, DEDICATED INVESTORS LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, DEDICATED INVESTORS LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. DEDICATED INVESTORS LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS DEDICATED INVESTORS LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. DEDICATED INVESTORS LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.
We have another urgent situation for you to take a look at.
We have another company that is announcing earnings at 8:30 am Friday.
Pull up SYTA immediately.
This one just had a reverse split happen at the beginning of the month.
This could have a major impact on this one in the immediate future because the float is now just 800k post split according to Finviz.
Need I say more?
Couple that with numbers coming out before the open and we could have something worth paying attention too if the numbers fall on the right side of expectations.
Siyata Mobile Inc. (NASDAQ: SYTA) is a leading global developer and provider of Push-to-Talk Over Cellular (“PTT/PoC”) systems for enterprise customers. The company specializes in connected vehicle products for professional fleets and markets its products under the Uniden® Cellular brand.
Since its inception in 2012, Siyata has amassed a customer base that includes cellular operators, commercial vehicle technology distributors, and fleets of all sizes in Canada, the U.S., Europe, Australia and the Middle East.
Recognized by the Toronto Venture Stock Exchange in 2018 as a Venture Top 50 Company, Siyata aims to deliver the highest quality and most technologically advanced mobile communication devices for global corporate workforces, fleets, homes and buildings.
The company has long been an industry pioneer, delivering the world’s first 3G connected vehicle device as well as the world’s first 4G/LTE vehicle-mounted smartphone for First Responders and commercial fleets and vehicles, thereby creating a new category in the cellular device market with a dedicated smartphone tailor-made for the commercial vehicle market.
Siyata’s suite of technology includes numerous PTT and legacy devices, as well as cellular boosters designed to improve cellular signals in corporate warehouses, government embassies, retirement home campuses, banks and manufacturing plants.
The company’s flagship product, the Uniden UV350, is the world’s first vehicle-mounted 4G/LTE smartphone with crystal clear quality, carrier grade PTT, voice, text, video and data applications built into a single device. Specifically designed for First Responder and commercial fleet vehicles, the UV350 runs on cellular LTE networks that provide nationwide and global coverage, replacing traditional single purpose two-way radios that require a monthly fee and limited network coverage.
The Uniden UV350 is currently available through Bell Mobility, Canada’s largest LTE network and PTT community, as well as AT&T in the U.S. Further expanding its availability, Siyata is completing network approval with another U.S. Tier 1 operator to launch the UV350 in Q3 2019.
Despite Siyata’s small size, no other competitor offers as comprehensive of a portfolio of products. Siyata Mobile Inc. (Nasdaq: SYTA) provides disruptive solutions aimed at the Push-to-talk-over-Cellular (PoC) industry, with three complementary product categories targeted to the same core channels and customers. Large global telecommunications customers provide potential rapid entry into a $50 billion North American market.
Siyata Mobile SD7 Mission Critical Push to Talk Over Cellular Device Featured
UScellular Keeps Business and Government Customers Connected with Intuitive Mission Critical Push to Talk Solution
“Siyata’s SD7 rugged Mission Critical Push to Talk over cellular radio handset is an industry leading device that offers UScellular business customers an alternative to land-mobile radios,” By Kim Kerr, senior vice president, enterprise sales and operations for UScellular.
While State And Local Budgets Experience A Squeeze, Siyata Mobile Provides Police With Affordable And Modern Communication Technology
Siyata’s unique approach of offering an affordable mission-critical PTT over Cellular handset that looks and operates like a two-way radio may allow first responder agencies to equip more of their staff than ever before with a reliable and easy-to-use handset to keep more staff connected. With a track record as a pioneer in the industry and with solutions catering to various uses in areas with and without strong cellular coverage, Siyata has earned a solid reputation for reliability and versatility. With rising budget cuts, this maybe solution that state and local governments are looking for.
As a leading developer and distributor of cutting-edge Mission Critical Push to Talk Over Cellular (PoC) devices, including its flagship products, the SD7 Handset and VK7 Vehicle Kit, Siyata is aiming to revolutionize the way industries worldwide connect and collaborate.
In a rapidly evolving landscape, the SD7 Handset stands out to us as the pinnacle of next-generation communication solutions. Designed to seamlessly integrate with existing systems while offering unparalleled functionality, the SD7 stands to bridge the gap between traditional two-way radios and modern cellular networks. Its reportedly rugged design, military-standard durability, and nationwide coverage is designed to ensure reliability and effectiveness across various verticals, from first responders to construction teams.
Complementing the SD7 is Siyata’s innovative VK7 Vehicle Kit, working to transform any vehicle into a mobile communication hub. With its reportedly seamless integration, robust features, and reliable connectivity, the VK7 is designed to enhance safety and efficiency for commercial fleets, emergency responders, and more.
According to Siyata Mobile, it’s not just disrupting the market; it’s setting new standards for communication excellence. With a track record of exponential growth, a strong presence in key global markets, and a visionary leadership team, we see this as an attractive investment for investors interested in the future of communication technology
Top Reason to have SYTA on your radar
Market Disruption: Siyata Mobile (NASDAQ: SYTA) is poised to disrupt the multi-billion-dollar Land Mobile Radio (LMR) industry with its cutting-edge Mission Critical Push to Talk Over Cellular (PoC) technology
Next-Gen Communication: With the SD7 and VK7, Siyata offers next-generation communication solutions that bridge the gap between traditional two-way radios and modern cellular networks.
Innovative In-Vehicle Solutions: The VK7 Vehicle Kit is designed to transform any vehicle into a mobile communication hub, enhancing safety and efficiency for commercial fleets and emergency responders
Global Reach: Siyata operates in key geographies including the United States, Canada, Europe, Australia, and the Middle East, offering solutions tailored to diverse market needs.
Rapid Industry Growth: The Mission Critical Push to Talk Over Cellular (PoC) industry is experiencing rapid growth, with a forecasted global PoC growth of approximately 9.4% CAGR, reaching approximately $6.95 billion by 2027
Strong Market Position: With a full-year 2023 revenue of $8.2 million, up 27% year-over-year, Siyata demonstrates its ability to capture market share and deliver consistent growth.
Comprehensive Product Portfolio: From rugged handsets to in-vehicle devices, Siyata offers a comprehensive product portfolio to cater to the communication needs of various industries, including first responders, hospitals, schools, security, construction, and hospitality
Visionary Leadership: Led by CEO Marc Seelenfreund and a seasoned management team, Siyata is guided by a vision of innovation, excellence, and market leadership in communication technology
High Growth Earnings: SYTA is expected to become profitable in the coming quarters.
High Growth Revenue: SYTA’s revenue is forecast to grow dramtically in 2024 and beyond
SD7: A Game-Changer in Mission Critical Push to Talk Over Cellular Technology!
SIYATA SD7
Siyata Specializes in Rugged PTT Handsets: SD7 is its Next Generation PoC Handset Complementing its Portfolio of Disruptive Handsets
THE SD7 IS A GAME CHANGER
A Perfect Upgrade from land mobile radio (LMR):
forwardA simple, purpose built, highly functional and rugged Android-based PTT only handset
forwardRugged IP68 rated design protects against dust and debris
forwardExcellent sound quality allowing for clear communication in the presence of background noise
forwardAll the benefits of PoC without the headaches of managing the current generation of rugged smartphones and feature phones
forwardRobust Next Gen 5G product portfolio coming
VERIZON LAUNCHES SIYATA SD7 AS PART OF ITS STOCKED HANDSET PORTFOLIO
PR Newswire
VANCOUVER, BC , July 26, 2024 /PRNewswire/ — Verizon, in collaboration with Siyata Mobile Inc., is proud to announce the launch of the Siyata SD7, a purpose-built, mission-critical push-to-talk device designed to help revolutionize communication for first responders and enterprise clients across the United States.
Cory Davis , vice president of Verizon Frontline, commented, “We are excited to bring the Siyata SD7 directly to our customers. As the nation’s number one network choice in public safety, Verizon Frontline is committed to providing cutting-edge technology that supports the critical work of first responders. This device is a potential game-changer for first responders and enterprise clients, providing a rugged, easy-to-use ‘cellular radio’ solution that delivers excellent coverage, improved functionality and low start-up and operating costs.”
Marc Seelenfreund , CEO of Siyata, commented, “We are extremely optimistic about the opportunities for the SD7 handset as a stocked item by Verizon. We are confident that the Verizon sales teams will hit the ground running and help convert traditional radio users over to Verizon’s Push to Talk Plus solution, while allowing them to operate on Verizon’s superior cellular network.”
Key features of the Siyata SD7 include:
Mission-Critical Push-to-Talk (MCPTT): The Siyata SD7 is designed for mission-critical communication, providing first responders and enterprise clients with the reliability and functionality they need to stay connected in any situation.
Purpose-Built for First Responders: The Siyata SD7 is purpose-built “cellular radio” for first responders, with a rugged design that can withstand the rigors of the field. It is also equipped with advanced features such as an emergency button and GPS tracking to ensure the safety and security of those in the line of duty.
Seamless Integration with Verizon Frontline: The Siyata SD7 is fully integrated with the Verizon network, providing users with access to an award-winning network.
Low Start-Up and Operating Costs: With superior coverage, improved functionality and low start-up and operating costs, the Siyata SD7 is a cost-effective solution for first responders and enterprise clients.
About Verizon
Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City , serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.0 billion in 2023. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores .
About Siyata Mobile
Siyata Mobile Inc. (Nasdaq: SYTA) is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.
In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.
Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.
Founder and CEO of Siyata . Prior to establishing Siyata Mr. Seelenfreund was a VP at Sunrise Corporation in New York focusing on financing publicly traded technology companies. Mr. Seelenfreund has a law degree and is a board member at a leading private university.
Gerald Bernstein – CFO
Mr. Bernstein spend 20 years focusing on private equity financing and tax efficient corporate structuring in multi-jurisdictional arenas. Mr. Bernstein holds a Bachelor of Commerce as well as a Graduate Diploma in Public Accountancy- both from McGill University. Member of the Canadian Institute of Chartered Accountants since 1987 and a professional chartered accountant.
Glenn Kennedy – VP Sales
Mr. Kennedy has over 25 years of sales experience in the telecommunications industry. Prior to joining Siyata in 2016, Mr. Kennedy has managed sales nationally for Motorola Canada, HTC Communications Canada and Sonim Technologies. Mr. Kennedy holds an Bachelor of Arts in Honors Business Administration from the Richard Ivey School of Business at the University of Western Ontario
GARY HERMAN – Chairman of the Board
Mr. Herman has several decades of experience as a sophisticated public company investor, fund manager and investment banker. Over the course of his career, he has served on both public and private company boards of directors and has also been a corporate officer, capital raiser, and restructuring specialist. Mr. Herman currently serves on the Board of Jupiter Wellness, Inc. (NASDAQ: JUPW); XS Financial, Inc. (CSE: XS), and SusGlobal Energy Corp. (OTCQB: SNRG).
Stephen Ospalak, Board Member
Over 20 years in telecom, currently SVP Marketing & Operations at BMG Inc. Served as interim CEO for AiTelecom; Global Integration Officer for Virgin Management Inc.; Canadian VP & Board Advisor for Brightstar, and as SVP Operations at Iusacell. Served as VP of Products & Services at Telus Communications Inc. responsible for an annual spend > $US 1billion in wireless & wireline equipment. Led the planning and execution of Clearnet’s market debut and nationwide launch of the iDEN and PCS Cellular services, setting the North American PCS launch record. Held management positions at AT&T.
Lourdes Felix, Board Member
Lourdes Felix is a corporate finance executive offering over fifteen years of combined experience in public accounting and in the private sector in building, leading, and advising corporations through complex restructurings. Ms. Felix was previously the controller for a mid-size public accounting firm for over seven years and was responsible for the operations and financial management of regional offices. Ms. Felix has been a Director of BioCorRx Inc. since March 7, 2013. Ms. Felix was appointed Chief Executive Officer of BioCorRx on November 9, 2020 and became Chief Financial Officer of BioCorRx on October 1, 2012. Ms. Felix was President of BioCorRx from February 26, 2020 until she resigned upon her appointment as CEO on November 9, 2020. Ms. Felix holds a Bachelor of Science degree in Business Management and Accounting from University of Phoenix.
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Surf Air Mobility Announces Plan to Form New Venture, Surf Air Technologies LLC, and Enters Agreement with Palantir Technologies Inc. to Power Operating System for the Advanced Air Mobility Industry
SRFM generated ~$60.5 million in revenue in 2023 and has an exclusive relationship agreement with American general aviation manufacturer, Textron Aviation (NYSE: TXT)
SRFM was the largest commuter airline in the US by scheduled departures, flying over 450,000 passengers on ~75,000 flights to 48 destinations in the US in 2022
We have SRFM back on our radar for tomorrow’s session.
This is one that we profiled back in January when we saw it run double digits on the day we had you watch it.
Surf Air Mobility is a Los Angeles-based regional air mobility platform expanding the category of regional air travel to transform flying through the power of electrification. In an effort to substantially reduce the cost and environmental impact of flying and as the owner of the largest commuter airline in the US, Surf Air Mobility intends to develop powertrain technology with its commercial partners to electrify existing fleets and bring electrified aircraft to market at scale. The management team has deep experience and expertise across aviation, electrification, and consumer technology.
A lot has happened with the company since the last time we put it in front of you.
Just today the company came out with massive news regarding an agrement with AI giant Palantir.
This news was well received on the street, shooting it up all the way to .42 on well above average interest.
It has pulled back a bit off of the highs, giving investors another shot at looking at this one with this massive news still in play.
Earlier this morning Surf Air Mobility filed an 8-K that outlined plans to form a new venture, Surf Air Technologies LLC, and an agreement with Palantir Technologies, Inc. Pursuant to the Agreement, Surf Air Mobility will establish Surf Air Technologies LLC, a subsidiary of Surf Air Mobility to develop, market, sell, maintain, and support an artificial intelligence-powered software platform for the advanced air mobility industry, which will be powered by Palantir, to provide operators of all types of aircraft, amongst other software products and solutions, with systems for the management of planes, airline operations, and customer facing applications.
Surf Air Mobility will contribute its software, intellectual property, and operational data, along with its development team, to support the creation and operation of the new AI-powered platform, SurfOS. Palantir, in turn, will provide implementation engineering services through its platforms, including Foundry and AIP.
Surf Air Technologies LLC will also seek not less than $5 million in initial funding from third-party investors, sourced by both Surf Air Mobility and Palantir. The transactions under the JV Agreement are anticipated to close by November 30, 2024, pending several conditions: the formal establishment of Surf Air Technologies as a Delaware LLC, the signing of its operating agreement, contributions from both parties, securing outside capital, and internal approvals from both companies.
Under the terms of the agreement, Surf Air Mobility will have the right to designate four of the five members on the board of Surf Air Technologies, including the Chair, legal representative, and General Manager, while Palantir will appoint one board member. The agreement also provides both companies with strategic rights, including pre-emptive rights on capital increases, first refusal rights on equity transfers, and options for equity exchanges in various scenarios.
This agreement with Palantir is a significant move for Surf Air Mobility, potentially setting the stage for a major disruption in the advanced air mobility sector. Since their collaboration began in 2021, SRFM has been focused on creating a cutting-edge solution to address the fragmented and outdated software currently available to regional air operators. With the development of SurfOS, the two companies are poised to deliver a comprehensive, AI-powered platform that could revolutionize regional air operations.
Given Palantir’s stellar reputation and the strategic importance of this collaboration, the potential impact on Surf Air Mobility is enormous.
Surf Air Mobility’s release of Q2 2024 financial results, scheduled for Wednesday after the market close, will be closely watched, especially in the wake of this major announcement.
Read the Full Release From Tuesday Here:
Surf Air Mobility Announces Plan to Form New Venture, Surf Air Technologies LLC, and Enters Agreement with Palantir Technologies Inc. to Power Operating System for the Advanced Air Mobility Industry
The companies have been working together since 2021 deploying operator software used by Surf Air Mobility. Surf Air will leverage Palantir’s AIP to build a unique and transformative set of software tools for regional air operators and electrified aircraft OEMs.
LOS ANGELES–(BUSINESS WIRE)– Surf Air Mobility (NYSE: SRFM) (“Surf Air Mobility”, “Surf Air”), a leading regional air mobility platform, has announced that it intends to form Surf Air Technologies LLC (“Surf Air Technologies”), a new venture that will develop, market, and sell AI-powered software tools to create a category-defining operating system for the advanced air mobility industry. Surf Air Technologies’ core platform, “SurfOS”, will be powered by Palantir Technologies (NYSE: PLTR) (“Palantir”), a global leader in artificial intelligence, enterprise data analytics, and business intelligence.
Surf Air Technologies intends to sell and deploy software tools across the market consisting of thousands of Part 135 regional air operators (small aircrafts limited to under 30 seats with a 7,500 pound maximum payload), of which Surf Air Mobility’s Southern Airways subsidiary is the largest by scheduled departures. Palantir and Surf Air will engage their enterprise teams to make this technology broadly available.
Surf Air Technologies will build on the successful work Palantir and Surf Air began in 2021, in which the companies have been deploying software and analytics tools for use across Surf Air’s three air travel brands. The tools the companies have developed to date have focused on the most important needs for Part 135 operators and includes crew scheduling, business intelligence, distribution and pricing. Surf Air has already seen improvements to its own operations and business across these categories. For instance, since the start of our partnership, by leveraging deeper insights into customer behavior, preferences, and travel patterns, Surf Air has seen an approximate 25% increase in revenue per trip1 within its On Demand charter division. This work with Palantir has laid the foundation for Surf Air’s platform to be able to host and provide the tools for multiple brands beyond just Surf Air.
Surf Air will be the first customer and consumer for SurfOS, and it plans to use these tools to enhance deployment and utilization of its own electrified aircraft, once certified.
Surf Air is considering bringing in outside investors to capitalize the Surf Air Technologies venture.
“SurfOS powered by Palantir’s Foundry and AI platforms will provide cutting edge AI-powered software infrastructure to operators of scheduled service and charter services, consumers, and aircraft manufacturers not existing today. SurfOS AI-powered operating systems will enable operators across the ecosystem to run their businesses more efficiently with access to more data with all types of aircraft including new electrified aircraft. SurfOS will provide disruptive software services and an operating platform to the advanced air mobility space to manage distribution and operations, enabling new businesses to flourish,” said Sudhin Shahani, Co-founder of Surf Air Mobility.
Surf Air believes that artificial intelligence, machine learning, and big data will transform advanced air mobility and will require a new set of tools to support the growth of this market segment. Surf Air Technologies is focused on addressing the largest opportunities across advanced air mobility, such as dynamic pricing, revenue management, and optimal aircraft and crew utilization.
The software tools will enable more accurate decision-making to improve operational efficiency and drive revenue, and will be categorized across dimensions that include revenue operations, distribution & monetization, and passenger operations.
The potential market opportunity is large, with the FAA reporting 1,818 Part 135 operators with 11,702 aircraft in the U.S. alone. The introduction of new electrified vehicles for passenger and cargo use are anticipated to create a new form of mass transportation with low cost, low emission, point-to-point flying on short-haul, regional routes.
Reports from McKinsey & Co. and NASA estimate that the size of the regional air mobility market could reach between $75 billion and $115 billion by 2035, and a report from Morgan Stanley estimates that the TAM for urban air mobility could reach $1 trillion by 2040 and $9 trillion by 2050.
“We’re excited to offer these software tools to over 300 of the air operator partners we work with most often to empower their businesses and meet the growing demand for more efficient regional connectivity,” said Jamie Strecker, VP of Business Development for Surf Air Mobility.
Q1 2024 Performance
Top Reasons to Research This One
Game-Changing Collaboration: The recent agreement with a leading tech giant is a significant step forward for Surf Air Mobility Inc.. By harnessing cutting-edge AI and data analytics, this collaboration will enable the company to deliver unparalleled operational efficiencies, setting a new standard in the air mobility market.
Massive Market Potential: The regional air mobility market is expected to grow exponentially, with projections suggesting it could reach $115B by 2035. With Surf Air Mobility Inc.’s strategic positioning, they appear well-prepared to capitalize on this immense growth potential.
Optimizing Key Operations: Part 135 operations, which account for over 2.8 Million flight hours in the US in 2023, are a crucial segment of the air mobility industry. Surf Air Mobility Inc.’s new AI-powered software platform is designed to optimize these operations, driving efficiency and innovation across the sector.
Pioneering Sustainable Aviation: Surf Air Mobility Inc. is not only focused on improving operational efficiency but also on sustainability. By developing powertrain technology to electrify smaller existing aircraft, the company is taking significant steps toward decarbonizing air travel. Imagine a future where flying between 50 to 500 miles is not only eco-friendly but also cost-effective—a vision that Surf Air Mobility Inc. is actively working to make a reality.
Strategic Partnerships and Global Reach: Surf Air Mobility Inc. continues to expand its global footprint through strategic deals in places like East Africa and Brazil
Revenue Streams
Surf Air Mobility Inc. (NYSE:SRFM) is revamping travel. They’re not just changing the game; they’re rewriting the playbook with a diverse revenue mix.
Scheduled flights linked 48 US cities in 2022, making travel a breeze. Whether it’s a single seat or a private charter, Surf Air Mobility (with their subsidiary brands, Surf Air, Southern Airways, and Mokulele Airlines) is the go-to for fast, convenient journeys.
Their role in essential air services (EAS) adds consistent, subsidized revenue.
A groundbreaking partnership with Purdue University: subsidized flights between Purdue and Chicago O’Hare were just launched in Q2 2024, transforming travel for Purdue’s community.
In May 2024, Surf Air (NYSE:SRFM) launched another subsidized route connecting Williamsport with Washington Dulles, injecting new life into the regional airport.
Beyond passenger services, Surf Air intends for its Aircraft-as-a-Service (ACaaS) program they’re developing to be a revolution in the skies.
Deanna White brings years of aviation experience and commitment to transforming flight. She served as COO at Kitty Hawk, where she led the business operations and commercialization of an R&D eVTOL aircraft program. She also served as CFO and CEO of Bombardier Flexjet. She holds a BS in accounting from the University of Tampa, and and MBA and MA in Cybersecurity from the University of Dallas.
Sudhin Shahani – Co-Founder
Shahani is a seasoned entrepreneur and venture capital investor with a diverse portfolio in aviation, media, technology, and education. He is the co-founder of Surf Air Mobility, where he has been steering the company’s vision, fundraising, and M&A activities since 2014. Under his leadership, Surf Air has raised over $400M and pioneered sustainable flight technologies. Before this, he was an Entrepreneur in Residence at Anthem Ventures, managing over $450M and serving on various boards. Shahani also co-founded Musicane and RTG Animate.
Fred Reid – Head of Global Business Development
A global aviation leader, Fred Reid has built products and services enjoyed by consumers around the world. As the founding CEO of Virgin America, America’s top airline for nearly 10 years, Fred helped create the “next generation airline”. Fred has also served as President of Lufthansa, Delta, Kitty Hawk, and Flexjet, and served as the Global Head of Transportation at Airbnb.
Carl Albert – Chairman
Albert boasts extensive experience in aviation, formerly serving as principal investor and Chairman & CEO of Wings West Airlines, acquired by AMR, and later of Fairchild Aircraft for a decade. Under his leadership, Fairchild acquired German manufacturer Dornier Luftfahrt, both companies producing regional aircraft and Dornier supplying Airbus with key components for multiple models. Albert also oversaw Merlin Express, a cargo service for UPS and FedEX. He has managed engineering programs to obtain various aircraft certifications from regulatory bodies like FAA and EASA.
Oliver Reeves – Chief Financial Officer
Oliver Reeves is a seasoned financial executive with a proven track record at both the strategic and operational levels. He will lead Surf Air Mobility’s financial and capital markets strategies, leveraging nearly two decades of experience in the investment management, enterprise technology, and insurance industries. Prior roles include serving as Chief Strategy Officer at Xinuos, Inc. since 2019.
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DISCLAIMER
THIS WEBSITE/NEWSLETTER IS OWNED SUBSIDIARY BY DEDICATED INVESTORS, LLC.
OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF SEVEN THOUSAND FIVE HUNDRED USD BY LFG EQUITIES CORP FOR A ONE DAY SRFM AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. 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LTRN has cash, cash equivalents, and marketable securities of roughly $38.4 million as of March 31, 2024
RADR® is among the world’s largest, most comprehensive and fastest growing AI-based oncology drug discovery and development platforms, with over 25 billion data points and 200+ algorithms powering a wide range of cancer drug development issues
Starlight Therapeutics, a wholly owned subsidiary of Lantern Pharma focused on CNS and brain cancers with STAR-001, advanced with the filing of a clinical trial protocol for the Phase 1B dose optimization and expansion cohort in recurrent IDH wild-type high grade gliomas
🗓️Save the date – August 8th, Thursday, 4:30PM Eastern Time, for our 2024 Second Quarter Operating & Financial Results Webinar. Register here https://t.co/kwQtdGhmem to join us as we share @LanternPharma's updates and discuss future milestones! $LTRNpic.twitter.com/5v20Gudjlu
We are back with another biotech for you to research this week.
This one has a catalyst this week that is noteworthy.
The company announced that it will host its second quarter 2024 operating and financial results on Thursday, August 8, 4:30 p.m. EST after the close.
Pull up LTRN right away.
This is another fresh company that is brand new to us here.
You are going to find some impressive technology while you are researching this one.
Lantern Pharma is an AI company transforming the cost, pace, and timeline of oncology drug discovery and development. Their proprietary AI and machine learning (ML) platform, RADR®, leverages over 25 billion oncology-focused data points and a library of 200+ advanced ML algorithms to help solve billion-dollar, real-world problems in oncology drug development. By harnessing the power of AI and with input from world-class scientific advisors and collaborators, they have accelerated the development of their growing pipeline of therapies including eleven cancer indications and an antibody-drug conjugate (ADC) program. On average, their newly developed drug programs have been advanced from initial AI insights to first-in-human clinical trials in 2-3 years and at approximately $1.0-2.0 million per program.
Their lead development programs include two Phase 2 clinical programs. They have also established a wholly-owned subsidiary, Starlight Therapeutics Inc., to focus exclusively on the clinical execution of their promising therapies for CNS and brain cancers, many of which have no effective treatment options. Their AI-driven pipeline of innovative product candidates are estimated to have a combined annual market potential of over $15 billion USD and have the potential to provide life-changing therapies to hundreds of thousands of cancer patients across the world.
LTRN is revolutionizing the fields of oncology drug discovery and development through its proprietary AI and machine learning platform, RADR®. Utilizing an extensive dataset of over 25 billion oncology-centric data points and a library of more than 200 advanced machine learning algorithms, the company addresses multi-billion-dollar challenges in the oncology drug development landscape. With guidance from an elite team of scientific advisors and collaborators, Lantern Pharma has expedited its growing portfolio of treatments. This includes eleven distinct cancer indications as well as an antibody-drug conjugate program. Remarkably, new drug programs propelled by Lantern Pharma’s technology advance from initial AI-derived insights to first-in-human clinical trials within a 2-3 year time frame and at a cost of approximately $1.0-2.0 million per program. The company’s AI-empowered pipeline has an estimated combined annual market potential exceeding $15 billion USD and holds the promise of delivering transformative therapies to hundreds of thousands of cancer patients.
If you back to February and March of this year you will notice that this one took off from 4 Bucks and ran all the way to 12 on above average interest. The float on this one is fairly small at roughly 8 Million. This could be a major factor a to why LTRN was able to take off without notice.
LTRN is sitting at a critical support level as you can see on the 3 month chart above. You can see that back in June this one started to take off from these exact levels and exploded up past 5 bucks. It has already established the potential to move.
RECENT HIGHLIGHTS
Active clinical trials across three AI-guided drug candidates with initial data and clinical readouts for LP-184 on-track for the second half of 2024.Obtained regulatory allowance to begin Phase 2 Harmonic™ clinical trial enrollment in Japan and Taiwan where approximately 30-35+% of all lung cancer cases occur in never-smokers with NSCLC; Harmonic™ continues patient enrollment in the US.Phase 1 clinical trials for both synthetic lethal drug-candidates, LP-184 and LP-284, continue to advance with no dose-limiting toxicities observed in any of the patient cohorts enrolled and dosed to date.The combined annual global sales market potential for LP-184 and LP-284 across multiple cancer indications is estimated to be over $12 billion USD.Starlight Therapeutics, a wholly owned subsidiary of Lantern Pharma focused on CNS and brain cancers with STAR-001, advanced with the filing of a clinical trial protocol for the Phase 1B dose optimization and expansion cohort in recurrent IDH wild-type high grade gliomas.Advanced AI-powered module for streamlining and guiding differentiated ADC development, which will be instrumental in the next-generation of drug candidates for Lantern Pharma and its collaborators.Established an AI driven collaboration with Oregon Therapeutics where the RADR® platform will be leveraged to sharpen, expand and derisk future clinical development strategies for a novel, first-in-class inhibitor of cancer metabolism.Approximately $38.4 million in cash, cash equivalents, and marketable securities as of March 31, 2024.
Lantern Pharma Achieves Key Milestone Towards Development of Molecular Diagnostic for use in Oncology Clinical Trials for Patient Selection and Stratification with Drug Candidate LP-184
DALLAS–(BUSINESS WIRE)– Lantern Pharma (NASDAQ: LTRN), a clinical-stage biopharmaceutical company leveraging artificial intelligence (AI) and machine learning to transform the cost, pace, and timeline of oncology drug discovery and development, today announced a significant advancement towards the development of a diagnostic for its drug candidate LP-184. The diagnostic is currently based on qRT-PCR (quantitative real-time polymerase chain reaction) technology and is focused on quantifying the amount of PTGR1 RNA in patient tumor samples to assess the potential for sensitivity to Lantern’s drug candidate LP-184. The company plans to further develop and validate the assay for its use as a potential tool for patient selection in later stage clinical trials across a broad range of solid tumors that have shown sensitivity to LP-184.
Figure 1: Correlation of PTGR1 expression and cytotoxicity/potency (IC50, µM) of LP-184 (Graphic: Business Wire)
Lantern has successfully confirmed PTGR1 as a key biomarker that it intends to use to optimize patient selection based on potential tumor sensitivity to the drug candidate LP-184. LP-184 is a precision oncology drug candidate with the potential to address multiple solid tumors. This confirmation marks a crucial step towards the development of a companion diagnostic and potential stratification tool to assist with targeted patient selection. Lantern plans on further validations and development of the assay using qRT-PCR and partnering with central labs and cancer centers for eventual use in patient selection and stratification. In a key publication on the utility and value of biomarkers in oncology trials among some of the most common cancers, titled Does biomarker use in oncology improve clinical trial failure risk? A large‐scale analysis by Parker, et al., 2021 in Cancer Medicine found success of clinical trials to be significantly correlated to the incorporation of biomarkers. In particular, the Parker, et al. publication stated that:
“…Our overall analysis of these four cancers, independent of indication, revealed a fivefold benefit of hazard ratios from the Markov models, suggesting a substantial benefit from biomarker use. The hazard ratio analysis of the Markov biomarker models examined how likely clinical trial success was associated with biomarker use versus no biomarker use. Hazard ratios indicated that for biomarker‐based drugs clinical trial success was largest for breast cancer (12‐fold) followed by melanoma (eightfold) and lung cancer (sevenfold) …Our data provide the most extensive look at biomarker use to date in oncology, with an advanced statistical method. Our findings indicate that biomarkers provide a statistically significant benefit, despite the fact our study includes biomarkers not yet FDA approved.”
By incorporating the PTGR1 biomarker into LP-184’s development strategy, Lantern Pharma is aligning with best practices in precision medicine and aiming to increase the likelihood of successful clinical outcomes in future clinical trials. PTGR1 levels have been measured to be higher in certain cancer cells than in normal cells, and Lantern is leveraging this biological activity to target the cancer indications believed most likely to respond to drug candidate LP-184. In the October 2023paper in Molecular Cancer Therapeutics, Lantern along with collaborators from Fox Chase Cancer Center published clear evidence that higher potency of LP-184 (measured in IC50 values) was directly correlated with higher expressions of PTGR1 and that cancer cell lines that did not have PTGR1 expression remained stable in the presence of LP-184 (see figure 1).
“This milestone represents a significant leap forward in our precision oncology approach and in ensuring that we enrich our future LP-184 clinical trials with the patients we believe will be most likely to benefit,” said Panna Sharma, CEO of Lantern Pharma. “By working to develop a companion diagnostic for LP-184, we’re not just advancing a drug candidate; we’re paving the way for more personalized and effective cancer treatments for patients that have the highest likelihood of benefitting from the therapy. The planned use of biomarkers like PTGR1 in our clinical trials exemplifies our commitment to data-driven, patient-centric drug development.”
These steps toward development of this companion diagnostic align with Lantern Pharma’s commitment to leveraging cutting-edge technology in drug development. By combining AI-driven insights with advanced diagnostic tools, the company aims to accelerate the drug development process and improve patient outcomes.
Lantern Pharma plans to implement this assay in upcoming clinical trials for LP-184, potentially streamlining the development process and increasing the likelihood of successful outcomes. LP-184— a novel therapeutic in clinical development for the potential treatment of malignant gliomas, pancreatic cancer, and atypical teratoid rhabdoid tumors (ATRT)— has also been granted an Orphan Drug Designation by the FDA, along with a Rare Pediatric Disease Designation.
Passionate about the use of A.I. and machine learning to change the risk, cost, and timelines in the highly interdisciplinary field of personalized medicine.
Passionate about the use of A.I. and machine learning to change the risk, cost, and timelines in the highly interdisciplinary field of personalized medicine.
Panna Sharma is the President, CEO, and Board Member of Lantern Pharma Inc., a clinical-stage oncology biotech using artificial intelligence (AI) and genomics to innovate the rescue, revitalization, and development of precision cancer therapeutics. Lantern is focused on improving patient outcomes by using its proprietary AI platform – Response Algorithm for Drug Repositioning & Rescue (RADR®) – to rescue, revitalize and develop abandoned or failed cancer drugs, and to accelerate their development through precision trials that help identify patient groups more likely to respond to its pipeline of targeted cancer therapies.
As Chief Executive Officer, Panna is responsible for developing Lantern’s strategic vision, and working closely with the venture investors to raise capital that will place the Company at the forefront of using AI and genomics in developing its pipeline of precision therapies. The Lantern Pharma (LP) pipeline currently consists of four drug candidates and an ADC program across 8 tumor targets, including two phase 2 programs, all focusing on cancers that have unique and unmet clinical needs with a clearly defined patient population. These drugs can be targeted to patients whose profile identifies them as having the highest probability of benefiting from the drug, thereby achieving better outcomes with reduced costs and accelerated timelines.
Prior to joining Lantern in 2018, Panna was the President and Chief Executive Officer of Cancer Genetics, Inc. (Nasdaq: CGIX), a provider of genomic and immune-based cancer diagnostics and therapy development services to some of the most prestigious medical institutions and pharma companies in the world. In his capacity as CEO at CGIX, he raised over $100 million in the public and private markets and grew the company from 25 employees in New Jersey to over 250 employees globally across multiple continents. Panna took CGIX public in 2013 and acquired four companies globally that help CGIX deliver on its mission to help personalize cancer treatment. Prior to CGIX, Panna founded TSG Partners, a specialty advisory group combining corporate strategy and corporate finance to create shareholder value for companies and investors in the life sciences, biotechnology, and environmental sciences. Panna began his career as an industry analyst for financial services and technology companies and was part of the management team that took the digital strategy and e-business company iXL public.
Panna attended Boston University in the University Professors Program and focused his studies on Philosophy of Science, Neural Networks and Artificial Intelligence. When not focused on the future of biotech, machine learning, emerging technologies, and genomics, Panna can be found with his three children and wife and listening to music, attending sports functions, discussing new and ethical uses of A.I., debating language theories and enjoying the vibrant and evolving local food scene.
Chief Financial Officer and Secretary
David R. Margrave
Mr. Margrave has served as our Chief Financial Officer since November 2019 and as our Secretary since June 2018. Since January 2016, Mr. Margrave has served as a life science consultant, providing strategic advisory and legal services to growing life science companies.
Mr. Margrave has served as our Chief Financial Officer since November 2019 and as our Secretary since June 2018. Since January 2016, Mr. Margrave has served as a life science consultant, providing strategic advisory and legal services to growing life science companies. From January 1995 to December 2015, he served as an executive officer at BioNumerik Pharmaceuticals, Inc., a life science company focused on advancing innovative cancer therapies. During his time at BioNumerik Pharmaceuticals, Inc., Mr. Margrave served in various positions including service as President and as Chief Administrative Officer and General Counsel. Mr. Margrave has served as a consultant to BioNumerik Pharmaceuticals, Inc. since January 2016. From April 2015 to December 2016, he also served as Senior Legal Advisor to MedCare Investment Corporation, a private investment firm investing in the medical and healthcare services industries. Prior to joining BioNumerik Pharmaceuticals, Inc., Mr. Margrave was a partner at Andrews & Kurth LLP, a national law firm. Mr. Margrave serves as Chairman and a board member of the Texas Healthcare and Bioscience Institute and as Chairman and a board member of the State of Texas Product Development & Small Business Incubator Board. He is a past board member of the Texas Technology Transfer Association. Mr. Margrave received a Bachelor of Arts and Science degree in Economics and in Petroleum Engineering from Stanford University, and a J.D. degree from The University of Texas School of Law.
Chief Scientific Officer
Kishor G. Bhatia, PhD
Dr. Bhatia has served as our Chief Scientific Officer since December 2019, and as our scientific consultant since January 2019. Dr. Bhatia also serves as a scientific consultant to Reprocell, one of our collaborators, since December 2016, and served as a scientific consultant to Cancer Genetics, Inc. from December 2016 until November 2019.
Dr. Bhatia has served as our Chief Scientific Officer since December 2019, and as our scientific consultant since January 2019. Dr. Bhatia also serves as a scientific consultant to Reprocell, one of our collaborators, since December 2016, and served as a scientific consultant to Cancer Genetics, Inc. from December 2016 until November 2019. Since 2006, he has been employed as an Adjunct Investigator with the National Cancer Institute-Division of Cancer Epidemiology and Genetics. From January 2007 until July 2016, Dr. Bhatia also served as a Director-AIDS Malignancy Program at the National Cancer Institute-Office of HIV and AIDS Malignancy, and from January 2004 through January 2007, he served as a Program Director and the Director of the National Cancer Institute-Division of Cancer Treatment and Diagnosis. Dr. Bhatia received a Bachelor of Science degree in microbiology from the University of Pune and a Ph.D. in biochemistry from the University of Mumbai. He is a Fellow of the Royal College of Pathology in the United Kingdom, was a Post-Doctoral Fellow at Johns Hopkins University and was a Research Assistant Professor at Georgetown University from 1985 to 1989.
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