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A2Z Smart Technologies Corp. (NASDAQ: AZ) is a multifaceted technology company headquartered in Vancouver, Canada, with a strong presence in the fields of advanced engineering and retail automation. The company operates through three primary segments: Advanced Engineering, Smart Carts, and Precision Metal Parts.
Under its Advanced Engineering division, A2Z provides sophisticated engineering solutions and maintenance services to the military and security markets in Israel. The company also develops innovative products for civilian use, such as the Fuel Tank Intelligent Containment System, designed to prevent gas tank explosions.
The star of A2Z’s product lineup is the Cust2Mate Smart Cart, the world’s first proven-in-use mobile self-checkout shopping cart. This smart cart is equipped with advanced technology including a user-friendly smart algorithm, touch screen, and theft mitigation features. The Cust2Mate allows shoppers to scan and pay for items directly within the cart, thus avoiding long checkout lines and simplifying the shopping experience. The latest iteration, Cust2Mate 3.0, includes a detachable control panel, improved software, and enhanced security features, marking a significant milestone in retail automation.
A2Z's Precision Metal Parts segment focuses on the manufacturing and sale of high-precision metal parts, maintaining a reputation for quality and reliability in various industrial applications.
Recently, A2Z has been actively deploying its Cust2Mate 3.0 carts across major retail chains such as Yochananof in Israel, Morton Williams in New York, and Monoprix in France. The company is also in discussions with several leading global chains to integrate its smart cart technology, responding to the growing demand for retail innovation.
Financially, A2Z has seen substantial investment to support its growth. The company raised around $5.7 million through a combination of registered direct offerings and private placements. These funds are being allocated towards ongoing product development, fulfillment of backlog orders, and expanding customer onboarding processes.
On the corporate front, A2Z has streamlined its structure with Gadi Graus taking the helm as Chief Executive Officer. The company also expanded its board to include Reeves Ambrecht, reinforcing its strategic goals and global growth ambitions.
However, A2Z recently received notices from Nasdaq regarding non-compliance with minimum bid price and market value requirements. The company is addressing these issues within the stipulated grace period while continuing its normal business operations.
With continuous innovation and strategic expansions, A2Z Smart Technologies Corp. is well-positioned to lead the transformation of the retail shopping experience, offering significant value to both retailers and consumers alike.
A2Z Smart Technologies Corp. (Nasdaq:AZ) announced that all resolutions were approved at its Annual and Special General Meeting held on February 28, 2023. Notable approvals include a rolling 10% stock option plan and an increase in restricted share units under the RSU Plan from 2,690,485 to 3,094,532 units. A2Z is known for its innovative self-checkout solution, Cust2Mate, which enhances customer experience by allowing in-cart payments, thus reducing checkout times and operational demands on retail staff. The company emphasizes its focus on creating solutions that address complex challenges in retail.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced the integration of its Cust2mate Smart Cart with NCR R10, a leading point of sale software platform. This integration, requested by major customers, aims to enhance the adoption of the Smart Cart as a mobile self-checkout solution among grocery chains globally. CEO Rafi Yam highlighted that this partnership will streamline the retail shopping experience by reducing checkout times. A2Z aims to meet the growing demand for efficient retail solutions, ensuring a more user-friendly experience for customers.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced the creation of a maintenance and support division for its Cust2mate Smart Carts. This division will operate under its subsidiary, A2Z MS, which currently serves major clients in Israel. The company will provide maintenance for 1,300 Smart Carts ordered by retailer Yochananof over the next three years. By focusing on internal support, A2Z aims to gain insights into customer usage, aiding the development of future Smart Cart features. Additionally, the company will discontinue military-related product development to concentrate on this initiative.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has announced a strategic partnership with Lenovo Group Limited to enhance its Cust2mate Smart Cart solution, which is aimed at revolutionizing the shopping experience. Lenovo will actively promote the Cust2mate platform globally, offering robust customer support. This collaboration is expected to enable A2Z to expand its retail solutions into international markets, leveraging Lenovo's global reach and resources. The Cust2mate platform simplifies the shopping process through advanced technology, allowing customers to bypass traditional checkout lines.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has launched the new Version 2.8 of its Smart Cart, designed after consultations with major retailers in Europe and Asia. The lighter model, available in 75 and 180 litre sizes, caters to smaller stores, expanding market reach across different retail formats, from hypermarkets to convenience stores. The new cart retains the advanced touch screens and security features found in larger models, enhancing the company's product lineup to four variations. This development signifies A2Z's commitment to innovating solutions in retail technology, particularly through its flagship mobile self-checkout system.
A2Z Smart Technologies Corp. (NASDAQ:AZ) will showcase its Cust2Mate smart cart products at the NRF 2023 Big Retail Show in New York from January 14th to 17th. The event will take place at the Javits Centre, where visitors can see live demonstrations at booth number 62570. Cust2Mate features a mobile self-checkout system that enhances the retail experience by allowing customers to scan products and make payments directly in the cart. This innovative technology reduces checkout times and optimizes store operations.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced significant changes to its Board of Directors, with Mr. Shlomo Paksher resigning and Mr. Niv Raz Haim appointed as an independent member. Mr. Raz Haim brings extensive experience in the hospitality sector, managing businesses that serve over 10,000 patrons monthly. Additionally, Mr. Gadi Graus was appointed to the Board, leveraging three decades of advisory experience in corporate matters. The Company also granted 1,027,000 Restricted Share Units and 816,500 Options to directors and officers at an exercise price of CDN$1.65 per share, aiming to strengthen its leadership team.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced a 30% increase in a purchase order for its smart carts from Yochananof, bringing the total to 1,300 carts and total revenues to approximately NIS 35 million (USD $12 million). Payment for each batch will be made in advance, with Yochananof having already paid NIS 20 million (USD $5.8 million). The initial order is being delivered across 11 stores, and completion is expected by the end of Q2 2023.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has entered into a 12-month investor relations agreement with Hanover International Inc. Under this agreement, the company will pay Hanover US$4,000 monthly and grant 100,000 stock options at US$1.50 per share. CEO Bentsur Joseph highlighted that this appointment aims to enhance investor engagement as A2Z focuses on expanding its Cust2Mate carts internationally. The IR agreement is subject to TSX approval.
A2Z Smart Technologies Corp (TSXV:AZ)(NASDAQ:AZ) has closed a private placement generating aggregate gross proceeds of US$4 million (CAD$5.5 million) through the issuance of 2,978,337 units priced at CAD$1.86 per unit. Each unit consists of one common share and a half share purchase warrant. The CEO, Bentsur Joseph, participated with US$750,000. The funds will support the development of smart cart technology and general administrative expenses. A finder's fee of CAD$349,320 was also paid.
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