Franklin Wireless Corp. - FKWL STOCK NEWS

Franklin Access has introduced the JEXtream FX20 WiFi 6 router paired with the Quvo parental control app, offering a comprehensive digital safety solution for families. The combination provides modern network performance and empowers parents to manage their children's online activities.

Key features of the Quvo app include real-time activity monitoring, customizable usage controls, content filtering, geo-fencing, and cross-platform compatibility. The JEXtream FX20 router delivers exceptional WiFi 6 performance, supporting multiple devices with faster speeds and better coverage.

CEO OC Kim emphasized the company's commitment to addressing the complexities of children's digital interactions. Franklin Access plans to expand Quvo's offerings into markets such as elder care, pet care, and small businesses. The products are available on www.quvostore.com and Amazon.

Franklin Access announced a $3 million investment in a joint venture to develop 4G/5G on-device AI modules. These modules promise advanced functionalities like improved security, image processing, and video streaming. The venture aims to innovate mobile broadband modules, providing enhanced privacy, faster response times, and reduced internet dependency. These modules, integrated with local edge computing, are expected to transform voice assistants, AR applications, and security systems. CEO OC Kim highlighted the collaboration's potential to place customers at the forefront of AI module technology, with launches anticipated soon.

Franklin Wireless announced a rebranding and will now operate as Franklin Access. The change aims to better reflect the company's focus on providing network solutions for homes and businesses. The rebrand includes the launch of a new website, FranklinAccess.com, which consolidates all their brands. Despite the name change, there will be no impact on ownership, management, or operations, and the company will still trade on NASDAQ under the ticker FKWL. CEO OC Kim emphasized that this move is strategic and aims to enhance the company's mission of offering seamless global connectivity solutions.

Sinnet Capital Partners, along with Managing Partner Timothy Hasara, collectively own 380,000 shares or 3.2% of the outstanding shares of Franklin Wireless (NASDAQ: FKWL). The company has generated cash over time, growing from $12.9 million in March 2020 to $33.6 million at the end of September 2023. The stock performance has remained unchanged during this period. Franklin Wireless has no debt and approximately $2.86 per share in cash. Sinnet Capital Partners recommends a special dividend of $1.00 per share, a $10 million Dutch tender stock buyback, and hiring an IR firm for press releases.

Franklin Wireless Corp. (FKWL) provided a business update detailing its innovative mobile solutions that drive a shift towards a recurring revenue model. The company has recently announced app-enabled products, enhancing human-to-machine communications in the IoT space. Currently, Franklin's services cater to around 100,000 subscribers, focusing on expanding its subscription services for mobile and IoT devices connected through 4G and 5G networks. Future developments aim to enhance device security and create a seamless ecosystem, which is expected to boost revenue and shareholder value.

Franklin Wireless Corp. (NASDAQ: FKWL) has launched its new Jextream 5G mobile hotspot, available for purchase through C Spire. This device supports C Spire’s 5G network and offers features like dual connectivity and Wi-Fi 6, enhancing performance and usability for up to 20 users. Priced at $199.80 or via a payment plan, it boasts a high-capacity battery and advanced security features. The launch broadens Franklin's market reach and sales potential, marking a significant step in expanding their product lineup for wireless broadband solutions.

Franklin Wireless Corp. (NASDAQ: FKWL) has announced the launch of a new sub-6 5G mobile hotspot in collaboration with C Spire, set to be available next month. This device will utilize C Spire’s advanced 5G network and features dual connectivity for 4G LTE and sub-6 5G. Highlights include Wi-Fi6 technology, supporting up to 20 users simultaneously, and a high-capacity battery. Franklin's president, OC Kim, emphasized the significance of this launch, reflecting a longstanding partnership with C Spire aimed at enhancing customer experience and network performance.

Franklin Wireless Corp. (FKWL) announced that it has surpassed 50,000 subscribers for its Mobile Device Management Service (MDM), Pintrac®. This achievement reflects significant demand from schools and businesses for solutions that facilitate remote access. The MDM service provides remote administration capabilities, allowing users to manage device access, filter content, and track data usage effectively. CEO OC Kim emphasized the importance of this milestone for addressing the needs of remote learning and workplace management.

The subscription model is expected to be boosted by government funding aimed at improving wireless infrastructure in schools.

Franklin Wireless Corp. (NASDAQ: FKWL) has announced that Verizon Wireless is recalling its Jetpack Hotspot devices due to reported battery failures. There have been fewer than 20 reports of issues among over 2 million devices sold in the past three and a half years. The company is collaborating with manufacturing partners to investigate the root cause of these issues.