Gorilla on a Roll
On June 13, 2024, Gorilla Technology Group (NASDAQ: GRRR) issued a letter to its stockholders addressing recent stock price declines and highlighting key achievements. The company secured three major projects in Taiwan focused on Roaming Lawful Interception (LI) solutions, Smart Port solutions, and Criminal Investigation systems, solidifying its position in AI and cybersecurity. Despite a recent capital raise of $12 million to fund ambitious projects in Taiwan and Egypt, the CEO acknowledges market concerns but stresses the company's commitment to innovation and resilience. Gorilla is also negotiating several transformative contracts, aiming to leverage these funds for future growth.
- Secured three major projects in Taiwan: Roaming Lawful Interception (LI) solutions, Smart Port solutions, and Criminal Investigation systems.
- Raised $12 million through a share offering to fund projects in Taiwan and Egypt.
- Negotiating several transformative material contracts.
- Company's strong commitment to innovation and growth in the AI and cybersecurity industry.
- Recent drop in stock share price causing concern among investors.
- Capital raise could lead to shareholder dilution.
- Market's negative reaction to financial performance.
Gorilla Technology Group Inc.'s announcement holds several key financial implications for investors. The company has secured significant projects in Taiwan, which solidifies its presence in the AI and cybersecurity sectors. These projects are important as they could drive future revenue growth, but investors should note the recent
The recent projects in Taiwan, specifically the Roaming Lawful Interception (LI) solutions, Smart Port solutions and Criminal Investigation systems, underscore Gorilla Technology's commitment to innovation. These projects place the company at the forefront of AI and cybersecurity, which are rapidly growing markets. Roaming Lawful Interception solutions are particularly relevant in today’s digital age, offering secure and legal ways to intercept communication for security purposes. Smart Port solutions enhance operational efficiency, important for global trade and logistics. These innovations not only demonstrate technological prowess but also potential for significant market penetration. However, the tech industry is highly competitive and success hinges on not just innovation but also execution and market adoption.
From a market perspective, Gorilla Technology's strategy to tackle multiple ambitious projects in both Taiwan and Egypt demonstrates their aggressive expansion approach. However, it's essential to recognize that market reactions to such announcements can vary, especially when juxtaposed with a recent drop in share price. The company’s investment in material contracts and potential partnerships could be transformative, indicating possible strategic alliances that could drive market share. Nonetheless, investors should be cautious, as the success of these deals remains uncertain until finalized. The CEO’s plea for trust and patience is a double-edged sword; while it reassures long-term vision, it may also signal immediate execution challenges.
LONDON, June 13, 2024 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”) today released a letter to its stockholders. The letter follows:
Gorilla Stockholders,
We, at Gorilla Technology, understand that the recent drop in our stock share price may have caused concern. However, I want to assure you that we are diligently navigating these turbulent waters and making significant progress in our core projects. Before addressing the market concerns, I am excited to share some of our recent achievements that underscore our commitment to excellence and innovation.
We are on a roll and have recently secured three significant projects in Taiwan, focused on one of the very first Roaming Lawful Interception (LI) solutions, Smart Port solutions to operational efficiency and Criminal Investigation systems. These wins exemplify our dedication to providing cutting-edge solutions and solidify our position as a leader in the AI and cybersecurity industry.
Despite these successes, I acknowledge the concern regarding our stock price. It is essential to communicate openly and from the heart. Let me assure you that Gorilla remains a fortress of innovation, resilience and growth. Our company has always been more than numbers and market value. We are a collective of passionate individuals dedicated to pushing the boundaries of AI and cybersecurity industry. The recent capital raise was a tough but strategic move to fortify our future and continue our trajectory of innovation and growth.
In line with our commitment to transparency and in compliance with SEC regulations, we have filed a Form 6-K detailing an offering of our ordinary shares for approximately
Furthermore, we are actively engaged in negotiations on several material contracts. These potential partnerships are anticipated to be transformative. However, we need a solid financial foundation to bring these negotiations to fruition. Your investment is not just in our company. It is also an investment into the future that we will build together.
Let me be unequivocally clear. I am furious about the market’s reaction to our financial performance, and we will not be derailed by those who doubt our business. This company has faced challenges before, and we have always emerged stronger.
We are not just a company; we are a tribe. Every challenge we face is an opportunity to prove our mettle. Our team, united in their commitment and passion, is the backbone of our strength. We are investing in our projects and our people to ensure that we continue to advance. Our vision is clear, our strategy is sound, and our resolve is stronger than ever.
We understand that stock price fluctuations can be unsettling. We ask for your trust and patience as we navigate this temporary phase. We are dedicated to driving value for all our stakeholders and are confident that our efforts will lead to long-term success.
Thank you for your continued support and belief in our vision. We are committed to working tirelessly to enhance shareholder value and to make our shared vision a reality.
Jay Chandan
CEO & Chairman of Gorilla Technology Group
About Gorilla Technology Group Inc.
“Empowering Your Tomorrow”
Gorilla, headquartered in London U.K., is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. Gorilla provides a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education.
The Company’s vision is to empower a connected tomorrow through innovative and transformative technologies. Gorilla envisions a world where seamless connectivity transcends boundaries, enriching lives, industries and societies.
For more information go to Gorilla-Technology.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the definition of the Private Securities Litigation Reform Act of 1995. These statements can be identified by forward-looking words such as “may,” “will,” “anticipate,” “believe,” “expect,” “continue,” “could,” “estimate,” “future,” “expect,” “intends,” “might,” “plan,” “possible,” “potential,” “aim,” “strive,” “predict,” “project,” “should,” “would” or similar words. Such forward-looking statements include those regarding the Company’s expectations for its contract with the Government of Egypt and its ability to win additional projects and execute definitive contracts related thereto. The Company may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements as a result of known and unknown risks, uncertainties and other factors.
Investor Relations Contact:
Cody Fletcher
The Blueshirts Group for Gorilla
+1 (434) 251-7165
gorilla@blueshirtgroup.co
FAQ
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