Guardforce AI Co., Limited Ordinary Shares - GFAI STOCK NEWS

Guardforce AI Co., Limited (NASDAQ:GFAI, GFAIW) released its interim financial results for the six months ending June 30, 2021. The company reported revenues of approximately $18.4 million, down from $18.7 million in 2020, reflecting challenges from COVID-19. The loss from operations increased to $1.3 million, up from $0.8 million previously. Despite a 74.9% increase in net cash from operating activities to $2 million, the gross margin decreased to 11.2%. Guardforce AI announced its U.S. expansion through a $2 million acquisition of SBC Global Holdings, significantly funded by shares.

Guardforce AI Co. (NASDAQ:GFAI, GFAIW) has announced plans to expand into the U.S. market through the acquisition of SBC Global Holdings Inc. for approximately $2 million, expected to close by January 31, 2022. The purchase will be financed with 10% cash and 90% equity, valued at $4.20 per share, with vesting over two years. CEO Robert Shiver will continue to lead SBC, providing Guardforce with enhanced opportunities in diverse market segments. This strategic acquisition aims to bolster Guardforce's operations in the U.S. and Canada, leveraging SBC's robotic Technology-as-a-Service offerings.

Guardforce AI Co., Limited (NASDAQ:GFAI, GFAIW) announced its selection to operate the Consolidated Cash Center in Hadyai, Thailand, a significant step in expanding its leadership in the cash center outsourcing market. The decision, made in collaboration with the Thai Bankers' Association and the Bank of Thailand, positions the center as the sole facility in Thailand's deep southern region, servicing seven provinces. This win follows an earlier five-year contract for another cash center in Khon Kaen, further solidifying Guardforce AI's credibility with the Thai government.

Guardforce AI has announced its strategic expansion into two new markets in the Asia Pacific region: Macau and Malaysia. This expansion is facilitated by the merger of Macau GF Robotics Limited and GF Robotics Malaysia Sdn. Bhd., targeting sectors including education, hospitality, retail, and corporate services. The merger is expected to be finalized by the end of January 2022, promising immediate growth opportunities. The company's Chairman, Terence Yap, emphasized the growth potential in the Greater Bay Area and Malaysia's status as Southeast Asia's fourth-largest economy.

FleishmanHillard has been selected to enhance international communications for Guardforce AI Co. Limited (NASDAQ:GFAI). The agency will assist in expanding brand awareness as Guardforce AI grows its cybersecurity and robotics solutions across Asia. Guardforce AI, a leader in integrated security solutions, leverages AI to provide Robot as a Service. FleishmanHillard has supported the company since 2020, including communications for its Nasdaq listing. The collaboration aims to strengthen Guardforce AI's global presence and capitalize on growth opportunities in the security market.

Guardforce AI Co., Limited has announced its merger with Guardforce AI Singapore Pte. Ltd., marking a strategic relocation of its corporate headquarters to Singapore. This merger is approved by the company's audit committee and board and is expected to finalize by mid-November 2021. The move aims to strengthen operations in the robotics and cybersecurity sectors within the Asia-Pacific region. Chairman Terence Yap emphasized that Singapore's ecosystem is vital for enhancing their competitive position and exploring new partnerships in AI and cybersecurity.

Guardforce AI Co. Limited (NASDAQ:GFAI)(NASDAQ:GFAIW) has appointed MZ Group for strategic investor relations to enhance visibility and communication across key markets. The new partnership aims to capitalize on Guardforce's 40 years of security experience, particularly in its Robot as a Service (RaaS) solution powered by AI. Additionally, PFK Littlejohn LLP has been appointed as the new public accounting firm, taking over from Wei, Wei & Co., LLP. These strategic partnerships are expected to support Guardforce's growth phase and highlight its leadership in secure logistics and physical security markets.

Guardforce AI (Nasdaq: GFAI) has launched its Intelligent Cloud Platform (ICP), enhancing remote management of robotics systems. The ICP features open architecture for integration with AI technologies, improving service offerings. Key functionalities include contactless temperature readings, advertising management, remote access control, and CCTV surveillance. This platform is now available in Hong Kong and Thailand, with plans for expansion across the Asia Pacific region. Guardforce AI aims to position itself as a leading Robotics as a Service (RaaS) provider, enhancing client value through innovative solutions.

Guardforce AI Co., Ltd. (GFAI) has successfully closed its underwritten public offering of 3,614,458 units, each comprising one ordinary share and one warrant, at a price of $4.15 per unit. This results in gross proceeds of approximately $15 million before expenses. EF Hutton served as the sole book-running manager for this offering. The SEC had previously declared the registration statement for this offering effective on September 28, 2021. The final prospectus is accessible on the SEC's website, providing further details for investors.