Jeffs Brands - JFBR STOCK NEWS

Jeffs' Brands subsidiary Fort Products announces two major initiatives to transform its e-commerce operations. First, Fort is developing an AI-based mobile application for pest control solutions, set to launch in H1 2025. The app will use AI to identify pests and provide tailored treatment recommendations, available on iOS and Android. Second, Fort will integrate cryptocurrency payments, including Bitcoin, into its online platform starting Q1 2025. The payment system will operate through third-party processors to ensure secure transactions. These initiatives aim to enhance Fort's market position and expand its global reach.

Jeffs' Brands (Nasdaq: JFBR) has entered into a three-year patent licensing agreement with Xiamen Fast Power, a Chinese photovoltaic technology company. The agreement grants Jeffs' Brands exclusive rights to market and sell Xiamen's patented waterproof photovoltaic board technology (patent #6345668) globally through Amazon Marketplace. The company will pay quarterly royalties equal to 15% of net cash flow profit from sales using the patented technology. This strategic move aims to diversify the company's product portfolio in the renewable energy sector and capitalize on growing demand for sustainable energy solutions.

Jeffs' Brands (Nasdaq: JFBR) announced the implementation of a 1-for-13 reverse share split effective after market close on November 19, 2024. The company's outstanding shares will be reduced from 9,351,768 to approximately 719,367, with about 520,290 shares publicly held. Trading under the symbol 'JFBR' will continue on the Nasdaq Capital Market, beginning on a split-adjusted basis on November 20, 2024. The reverse split was approved by shareholders on July 17, 2024. No fractional shares will be issued, and proportionate adjustments will be made to outstanding options and warrants.

Jeffs' Brands (Nasdaq: JFBR) announced that its subsidiary Fort Products is developing an AI-based mobile application for pest control solutions. The app, expected to launch in the first half of 2025, will feature AI-powered pest identification, personalized treatment recommendations, and product suggestions. The platform will be available on both iOS and Android devices, supporting multiple languages. Key features include instant pest insights, natural and chemical control methods, and an admin panel for dynamic product management. The initiative aims to enhance Fort's product ecosystem and expand market presence by making pest control solutions more accessible and efficient.

Jeffs' Brands (Nasdaq: JFBR) announced a 1-for-13 reverse share split effective November 19, 2024. The company's outstanding ordinary shares will be reduced from 9,351,768 to approximately 719,367, with trading under the same symbol 'JFBR' beginning on a split-adjusted basis on November 20, 2024. The split was approved by shareholders on July 17, 2024. The company's authorized share capital of 90,000,000 ordinary shares remains unchanged. No fractional shares will be issued, and proportionate adjustments will be made to outstanding options and warrants.

Jeffs' Brands (Nasdaq: JFBR) has announced that its subsidiary, Fort Products, will integrate cryptocurrency payment options into its online platform. Through an agreement with a software development company, Fort plans to implement Bitcoin and other cryptocurrency payment capabilities during the first quarter of 2025. The integration aims to enhance customer convenience and expand Fort's global reach. A third-party payment processor will handle cryptocurrency transactions, converting them to fiat currency before transferring to Fort. This initiative aligns with Fort's strategy to modernize its e-commerce operations and cater to cryptocurrency-friendly customers.

Jeffs’ Brands (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company, announced a strategic plan involving a non-binding Letter of Intent (LOI) to sell its U.S. subsidiary, Smart Repair Pro, to a U.S. public company traded on the OTC pink sheets. The proposed valuation for the sale is approximately $13.125 million.

Jeffs’ Brands will receive 75% of the Acquiring Company’s shares upon closing and an additional 15% equity stake upon meeting certain milestones, including an uplisting to a national U.S. exchange within three years. The transaction is expected to close by December 31, 2024, subject to due diligence, binding agreements, and regulatory approvals.

The initial valuation for the Acquiring Company is approximately $1.5 million, contingent on cash holdings of at least $750,000. Jeffs’ Brands aims to focus on core markets while retaining up to 90% equity in the Acquiring Entity for future growth.

Jeffs' Brands (JFBR) has entered into a non-binding letter of intent to sell its U.S. subsidiary, Smart Repair Pro, to a U.S. public company traded on OTC pink sheets. The deal values Smart Repair Pro at approximately $13.125 million. In exchange, Jeffs' Brands will receive 75% of the acquiring company's shares upon closing, with potential for an additional 15% stake if certain milestones are met, including uplisting to a national U.S. exchange within three years. The transaction values the acquiring company at approximately $1.5 million, contingent on minimum cash holdings of $750,000. The deal is expected to close by December 31, 2024, subject to due diligence and regulatory approvals.

Jeffs' Brands (Nasdaq: JFBR) has received a 180-day extension from Nasdaq until April 21, 2025, to regain compliance with the minimum $1 bid price requirement. The company failed to meet this requirement during the initial compliance period ending October 22, 2024. To maintain listing, JFBR must achieve a closing bid price of $1 or above for at least 10 consecutive trading days before the new deadline. The company meets all other Nasdaq Capital Market listing requirements except the bid price rule. Trading continues normally under symbol JFBR during this extension period.