Franklin Wireless Corp - FKWL STOCK NEWS

Franklin Access (NASDAQ: FKWL) has announced the successful funding of its joint venture, Sigbeat, focused on developing advanced 4G/5G modules with integrated AI capabilities. The venture will design, market, and certify modules featuring enhanced security, image processing, and video streaming functionalities.

The Sigbeat modules aim to deliver faster response times, improved privacy protection, and reduced cloud computing dependency while supporting voice assistants, augmented reality (AR), and other intelligent applications. The initiative combines Franklin Access's wireless expertise with their partner's technological capabilities to serve various industries, emphasizing edge computing and multi-network functionality for improved customization and efficiency.

Franklin Access (FKWL) has secured a significant legal victory in its shareholder litigation case 'In re Franklin Wireless Corp. Derivative Litigation'. On December 19th, 2024, following an 8-day jury trial in the U.S. District Court for the Southern District of California, the jury awarded nominal damages of just $0.99, despite plaintiffs seeking over $110 million in damages from the company's officers and directors.

The court determined that the actions of Franklin Wireless officers and directors during the relevant period resulted in only nominal damage to the company. This resolution ends a challenging period for the Company's Officers and Directors, allowing management to refocus on delivering innovative connectivity solutions without litigation distractions.

Franklin Access has announced significant updates to its JEXtream MDM (Mobile Device Management) platform. The enhancements include a new Internet Suspension Feature for managing internet functionality across devices, Single Sign-On (SSO) integration for streamlined access, an improved user interface with enhanced Device Detail screen and advanced filtering options, and a new dashboard for individual accounts. The platform aims to serve both enterprise clients and educational institutions with these versatile device management solutions.

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.