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T Stamp Inc. - IDAI STOCK NEWS

Welcome to our dedicated page for T Stamp news (Ticker: IDAI), a resource for investors and traders seeking the latest updates and insights on T Stamp stock.

T Stamp Inc develops and markets identity authentication software solutions for enterprise partners and peer-to-peer markets. The company is engaged in developing proprietary artificial intelligence-powered solutions; researching and leveraging biometric science, cryptography, and data mining to deliver insightful identity & trust predictions while identifying and defending against fraudulent identity attacks, protecting sensitive user information, and extending the reach of digital services through accessibility.

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Trust Stamp (Nasdaq: IDAI) has announced two significant upcoming events. The AI technology company will release a comprehensive business and strategic update on January 15th, 2025. Additionally, the company will conduct its Annual General Meeting on January 29, 2025, at 9:00 a.m. Eastern Time through an online platform, enabling remote shareholder participation. Further details about these events will be disclosed in upcoming SEC filings.

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Trust Stamp (IDAI) has announced a $3.0 million registered direct offering through a securities purchase agreement with a single institutional investor. The deal includes:

- 5,555,548 shares of common stock (or pre-funded warrants) at $0.54 per share - Series A Warrants for 5,555,548 shares - Series B Warrants for 4,166,661 shares

The warrants will have a five-year term from initial exercise date and an exercise price of $0.54 per share, subject to shareholder approval. The offering, managed by Maxim Group as sole placement agent, is expected to close around December 6, 2024.

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Trust Stamp (Nasdaq: IDAI) has announced two upcoming key events. The company will release a comprehensive business and strategic update on December 15th, 2024. Additionally, Trust Stamp will conduct its Annual General Meeting on January 29, 2024, at 9:00 a.m. Eastern Time through an online platform, enabling remote shareholder participation. Further details about the meeting will be disclosed in upcoming SEC filings.

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Trust Stamp (Nasdaq: IDAI) has been granted Patent No. 17/719,975 by the US Patent and Trademark Office for a 'Personal Identifiable Information Encoder'. This technology enables organizations to maintain the utility of personal identifiable information (PII) without storing highly sensitive data, enhancing data protection and privacy measures.

CEO Gareth N. Genner emphasized the importance of this innovation, stating that data protection and privacy should be non-negotiable for enterprises and government agencies handling PII. The new technology aims to help organizations fulfill their data protection obligations and mitigate potential damages from data breaches, addressing the ongoing issue of data losses across various sectors.

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Trust Stamp (Nasdaq: IDAI) has announced a $2.0 million registered direct offering and warrant inducement, priced at-the-market. The company will issue 1,432,399 shares of common stock (or pre-funded warrants) at $0.3223 per share, along with unregistered warrants for 2,864,798 additional shares. The deal includes a warrant inducement agreement for the exercise of 4,773,030 outstanding warrants at $0.3223, with new warrants for 9,546,060 shares issued as consideration. The offering is expected to close around September 5, 2024. Proceeds will be used for working capital, capital expenditures, and other corporate purposes, including terminating transaction documents with HCM Management Foundation. Maxim Group is acting as the sole placement agent.

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Trust Stamp (Nasdaq: IDAI) reported financial results for H1 2024, highlighting a 100% year-on-year increase in enrolled customers and Net Revenue growth. Key points include:

1. 62 financial institutions enrolled on SaaS Orchestration Layer, up from 31 in 2023.
2. Net revenue increased to $1.07 million, up from $919,000 in H1 2023.
3. Operating loss widened to $5.47 million from $4.96 million in H1 2023.
4. Net loss per share improved to $0.47 from $0.80 in H1 2023.
5. R&D expenses decreased by 15.76% to $190,000.
6. New partnerships in automotive, mobile identity verification, and healthcare sectors.
7. Anticipating significant license fees as 'other income' in Q3 2024.

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Trust Stamp (IDAI) has licensed its AI technologies to Boumarang Inc. for use in hydrogen-powered drones, generating $5 million in income for Q3 2024. The deal involves integrating Trust Stamp's computer vision and data tokenization into Boumarang's UAV systems for search & rescue, humanitarian services, surveillance, and delivery applications.

The collaboration targets the rapidly growing global drone market, expected to reach $166.7 billion by 2031 with a 25% CAGR. Hydrogen-powered drones offer advantages like longer flight times and reduced environmental impact. Trust Stamp received the license fee as pre-paid common stock warrants, gaining equity participation in Boumarang.

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Trust Stamp (Nasdaq: IDAI) has partnered with Botdoc to integrate its low-code Orchestration Platform into Botdoc Connect, enhancing Identity Verification and KYC for the automotive industry. This collaboration aims to combat rising fraud rates and cybersecurity concerns in auto dealerships. The integration includes document validation using the Driver License Data Verification (DLDV) System from the American Association of Motor Vehicle Administrators (AAMVA).

With nearly 80,000 cars stolen from dealerships last year, this partnership brings advanced security measures to fight fraud, including real-time verification of driver's licenses against issuing agency data. Both companies, graduates of the ICBA ThinkTECH accelerator, bring their expertise from regulated industries like banking and insurance to address critical issues in the automotive sector.

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Trust Stamp (Nasdaq: IDAI) has entered a non-binding Letter of Intent with Qenta Inc. for a strategic alliance to serve a global federated network including crypto, bank, and other financial services companies. This alliance aims to integrate Trust Stamp's proprietary tokenized identity technology with Qenta's financial ecosystem, positioning both companies to capitalize on the growing digital transaction market.

Key points:

  • The global shift to digital transactions is estimated to reach $16 Trillion annually by 2030
  • Tokenization service revenue is predicted to grow from $2.81 Billion in 2023 to $13.2 Billion by 2032
  • Trust Stamp has 20 issued patents and 9 pending patents related to identity and data tokenization
  • The alliance aims to enhance capabilities for AI-powered solutions in data controls, privacy, secure content transfer, and payments
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Trust Stamp (Nasdaq: IDAI) has filed for its 37th patent, marking a significant milestone in its evolution as a SaaS provider of AI-powered technologies. The company's Chief Technology Officer, Scott Francis, and Chief Science Officer, Dr. Norman Poh, provided insights into Trust Stamp's growing patent portfolio and expanding customer base. Originally focused on financial services, Trust Stamp now serves a diverse global market across sectors such as healthcare, public safety, and blockchain. The company's SaaS Orchestration Layer has facilitated a rapid increase in customers, growing from two at the end of 2022 to over seventy in mid-2024. Recent patents focus on innovations in Zero Knowledge Proof technology and combating AI-powered injection attacks.

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FAQ

What is the current stock price of T Stamp (IDAI)?

The current stock price of T Stamp (IDAI) is $0.371 as of December 23, 2024.

What is the market cap of T Stamp (IDAI)?

The market cap of T Stamp (IDAI) is approximately 9.1M.

What does T Stamp Inc specialize in?

T Stamp Inc develops identity authentication software solutions for enterprise partners and peer-to-peer markets.

What technologies does T Stamp Inc leverage?

T Stamp Inc leverages artificial intelligence, biometric science, cryptography, and data mining in their solutions.

What is the recent achievement of T Stamp Inc?

T Stamp Inc has received a notice of allowance for a new patent for an AI-powered personal identifiable information encoder.

Who are the founders of T Stamp Inc?

T Stamp Inc was founded in 2016 by Gareth Genner and Andrew Gowasack.

Where is T Stamp Inc located?

T Stamp Inc is located across North America, Europe, Asia, and Africa.

Where does T Stamp Inc trade?

T Stamp Inc trades on the Nasdaq Capital Market under the symbol IDAI.

What sectors does T Stamp Inc serve?

T Stamp Inc serves sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services.

What is the mission of T Stamp Inc?

T Stamp Inc aims to provide advanced biometric identity solutions to reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader user base worldwide.

What is the significance of the new patent received by T Stamp Inc?

The new patent for an AI-powered personal identifiable information encoder addresses the need for security against cyber-attacks and provides optimized privacy protection by tokenizing personal data.

What is the focus of the recent patent filed by T Stamp Inc?

The recent patent aims to improve the performance of biometric-based age estimation algorithms to tailor results to complex client requirements.

T Stamp Inc.

Nasdaq:IDAI

IDAI Rankings

IDAI Stock Data

9.08M
18.37M
33.45%
8.48%
0.16%
Software - Application
Services-prepackaged Software
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United States of America
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