Welcome to our dedicated page for Spetz news (Ticker: DBKSF), a resource for investors and traders seeking the latest updates and insights on Spetz stock.
SPETZ INC (DBKSF) is a multinational technology company that operates Spetz, a global online, AI-powered marketplace platform connecting consumers to top-rated service providers in around 30 seconds. With a vision to revolutionize how people worldwide access services in their time of need, Spetz is available in the USA, UK, Australia, and Israel. Recently, the company celebrated surpassing one million completed service calls, highlighting its dedication to user experience and brand presence. Under the leadership of CEO Yossi Nevo, Spetz continues to focus on operational excellence, financial stability, and profitability, as evidenced by its significant revenue growth and expense reductions in recent financial reports.
Spetz Inc. (CSE:SPTZ)(OTC:DBKSF) has signed a definitive agreement to acquire Sonic Strategy Inc., a private Alberta-based staking company focused on the Sonic blockchain, for $5.25 million. The acquisition will be completed through the issuance of 14 million Spetz common shares at $0.375 per share.
The transaction, expected to close around February 10, 2025, aims to strengthen Spetz's blockchain capabilities and create new revenue streams through staking infrastructure operations. Sonic Strategy's founder, Mitchell Demeter, will join Spetz as a technical advisor upon closing.
Upon completion, Spetz will issue 700,000 common shares as an advisory fee to two arm's length entities. The acquisition aligns with Spetz's strategy of combining traditional and decentralized finance, complementing their existing investment in Kirobo
Spetz Inc. (CSE:SPTZ)(OTC PINK:DBKSF) has completed several financial transactions: a private placement offering raising $500,000 through the issuance of 5,000,000 common shares, debt settlements of $445,645.89 through the issuance of 4,456,457 shares, and restructuring of $1,015,914 in debt through new convertible debentures.
The proceeds from the offering will be allocated to general working capital and pursuing new business opportunities. All securities issued are subject to a four-month hold period ending May 18, 2025. No finder's fees were paid for these transactions.
Spetz operates as a global online, AI-powered marketplace platform that connects consumers with nearby service providers in approximately 30 seconds, currently operating in the USA, United Kingdom, Australia, and Israel.
Spetz Inc. (CSE:SPTZ)(OTC Pink:DBKSF) has announced multiple financial initiatives to address its current financial difficulties. The company is arranging a $500,000 private placement offering at $0.10 per share, planning to settle $445,645.89 in accounts payable through share issuance, and restructuring $1,017,673 in outstanding debt primarily from matured convertible debentures.
The new debentures will be convertible into units at $0.20 per unit, with each unit including one common share and half a warrant exercisable at $0.40. The company warns that without completing these transactions, there is significant doubt about its ability to continue as a going concern, as it currently lacks sufficient funding for ongoing operations.
Spetz Inc (CSE:SPTZ, OTC:DBKSF) reported financial results for Q3 2024, showing significant cost reductions and improved operational efficiency. Total expenses decreased by 50.9% to $1,889K for the nine months ended September 30, 2024, compared to $3,848K in the same period of 2023. The company's net loss decreased by 57.3% to $1,079K, while adjusted EBITDA loss reduced by 55.6% to $492K compared to $1,108K in the previous year. CEO Yossi Nevo highlighted the company's focus on cost management and revenue expansion to achieve positive cash flow.
Spetz Inc. has announced several key updates: The company secured an extension for its secured convertible debentures to December 31, 2024, from the previous October 31, 2024 deadline. In November 2024, Spetz sold 12,292,779 Kirobo shares at USD$0.0048 per share. The board of directors waived their planned yearly compensations of 30,000 CAD per member for 2023 and 2024, reducing company liabilities by 300,000 CAD. Additionally, former Chief Marketing Officer Ofir Friedman has transitioned to a part-time role as Corporate Advisor.
Spetz Inc. (CSE:SPTZ)(OTC PINK:DBKSF) reported financial results for Q2 2024, showing a strategic shift towards the Israeli market. Key highlights include:
- Revenue of US$1,016K for H1 2024, down 7.47% year-over-year
- Total expenses decreased by 50.37% to US$1,424K
- Net loss reduced by 61.63% to US$752K
- Adjusted EBITDA loss decreased by 65.2% to US$309K
CEO Yossi Nevo emphasized the company's focus on efficiency and cost reduction, aiming for positive cash flow. Spetz is seeking additional investments in its Israeli subsidiary and offering debt-to-equity conversion opportunities to support profitability.
Spetz announced a strategic move to enhance its cash flow by converting outstanding payments into secured convertible debentures and common share purchase warrants. The plan includes the conversion of debts owed to Yossi Nevo (367,523.91 CAD), Ofir Friedman (119,278 CAD), and Miller Thomson LLP (104,324.3 CAD).
The debentures carry an interest rate of 1% per month and can be converted into common shares at $0.24 per share until October 31, 2024. Additionally, 296,735 warrants were issued to Nevo and Friedman, allowing them to purchase shares at $0.24 until October 31, 2026. The proceeds will be utilized for general working capital.
Spetz, operating in the USA, UK, Australia, and Israel, provides an AI-powered marketplace platform connecting consumers to service providers, enhancing its financial stability through this plan.
Spetz has reported its financial results for Q1 2024, showing a 4.6% increase in revenue to $543K, up from $518K in Q1 2023.
The company's net loss after income taxes decreased by 60% to $418K, down from $1,044K in the same period last year.
Adjusted EBITDA loss also dropped by 59.5%, reaching $166K compared to $410K in Q1 2023. CEO Yossi Nevo highlighted the company's efficiency plan, which significantly reduced expenses while still achieving revenue growth.
Spetz continues to enhance its market position through ongoing initiatives, aiming for operational excellence and profitability.
Spetz is a global AI-powered marketplace platform available in the USA, UK, Australia, and Israel.
Spetz Inc. reported a significant increase in revenue by 103.7% for the fiscal year 2023, reaching US$2.031 million compared to US$0.997 million in 2022. However, the adjusted EBITDA loss decreased by 17.0% to (-US$1.239 million) for 2023 compared to (-US$1.493 million) in 2022. The company's CEO highlighted their efforts to improve financial stability and strategic adjustments, resulting in doubled revenues.
FAQ
What is the current stock price of Spetz (DBKSF)?
What is the market cap of Spetz (DBKSF)?
What is SPETZ INC (DBKSF) known for?
Where is SPETZ INC (DBKSF) available?
What recent milestone did SPETZ INC (DBKSF) achieve?
Who leads SPETZ INC (DBKSF)?
What financial achievements has SPETZ INC (DBKSF) recently reported?
