Welcome to our dedicated page for MACE SECURITY INTL news (Ticker: MACE), a resource for investors and traders seeking the latest updates and insights on MACE SECURITY INTL stock.
Mace Security International, Inc. (NASDAQ: MACE) is a globally recognized leader in personal safety and security. With over 40 years of experience, Mace® is known for its original pepper sprays. Manufactured in the USA, Mace® offers a wide range of security products, including pepper sprays, surveillance cameras, security DVRs, and CCTV equipment. The company recently announced partnerships to provide training and non-lethal safety products. With a focus on innovation and quality, Mace® continues to empower individuals and communities to prioritize personal safety.
Mace Security International (OTCQB:MACE) announced delays in filing its Q3 2024 financial statements, expecting completion by December 30, 2024. Preliminary Q3 results show net sales of $1,411,000, down 6% year-over-year due to losing two major retail customers. Gross profit rate declined to 23.1% from 30% in 2023, despite 29% reduction in manufacturing costs. Operating loss was ($635,000) compared to ($644,000) in Q3 2023. Cash position decreased to $1,000, with $1,209,000 drawn from credit line. SG&A expenses were $961,000, including non-recurring costs related to merger agreement and transition expenses.
Mace Security International (OTCQB:MACE) has announced the postponement of its 2024 Annual Meeting of Shareholders due to a recently announced Agreement and Plan of Merger. The meeting will be rescheduled if necessary pending the potential merger transaction. A separate Special Meeting of Shareholders will be called specifically to vote on the merger agreement, with notice to be provided in the future.
Mace Security International, Inc. (OTCQB:MACE) has announced a definitive Agreement and Plan of Merger with W Electric Intermediate Holdings, Under the agreement, Mace will become a wholly-owned subsidiary of W Electric Intermediate Holdings. The merger consideration is $6,000,000 on a cash-free, debt-free basis, subject to adjustments. Mace projects per share cash proceeds to shareholders between $0.016 and $0.0235, plus potential additional adjustments.
The merger requires shareholder approval and is expected to close by the end of 2024. W Electric Intermediate Holdings has paid Mace a refundable $300,000 interest-free earnest money deposit. The agreement includes termination rights and fees under specific circumstances. Mace's Board of Directors has unanimously approved the Merger Agreement.
Mace Security International (OTCQB:MACE) announced its Q2 2024 financial results. Net sales were $1,360,000, down 22% from Q2 2023, mainly due to the loss of two larger retail customers and non-recurring international orders. The gross profit rate remained at 30%. SG&A expenses were $947,000, with adjusted SG&A at $824,000, 4% lower than Q2 2023. The company reported a net loss of $722,000 and an Adjusted EBITDA loss of $412,000.
For the first half of 2024, net sales were $2,718,000, down 20% year-over-year. The gross profit rate improved to 32% from 27% in 2023. Net loss was $1,461,000, and Adjusted EBITDA loss was $901,000. The company continues to focus on cost reduction and operational improvements while facing challenges in retail and international markets.
Mace Security International (OTCQB:MACE), a global leader in personal self-defense sprays, has announced additional unsecured subordinated funding. The company's Board of Directors approved a $40,000 unsecured subordinated loan from a Board member on September 20, 2024. The note matures on the earlier of July 27, 2025 or when the Company's senior line of credit is repaid, bearing interest at 10% per annum. The note does not have a conversion feature.
Mace Security International, based in Cleveland, Ohio, has been designing and manufacturing consumer and tactical products for personal defense and security for over 40 years. The company's portfolio includes the Mace Brand defense sprays, Take Down brand for law enforcement, KUROS! personal safety products, Vigilant alarms, and Tornado pepper spray and stun guns.
Mace Security International (OTCQB:MACE) announced on June 27, 2024, that it has secured a $100,000 additional unsecured subordinated loan from a Board member as of June 25, 2024. This loan, which bears an interest rate of 10% per annum, is to be drawn down if necessary and matures on the sooner of July 27, 2025, or when the company's senior line of credit is repaid. The loan does not include a conversion feature. Mace Security International is a leader in personal safety and security products, including aerosol defense sprays and tactical products for law enforcement and consumers, distributed through various retail and online channels.
Mace Security International (OTCQB:MACE), a leader in personal safety products, has announced a strategic partnership with Pyramyd AIR, a premier online airgun and outdoor gear retailer based in Cleveland. This collaboration aims to offer safety solutions for outdoor enthusiasts by integrating Mace's products into Pyramyd AIR's catalog. Key products featured in this partnership include Mace Pepper Gel, Mace Personal Alarm Keychains, and Mace Bear Spray. The partnership seeks to enhance the safety of adventurers and expand the availability of these safety tools through Pyramyd AIR's extensive customer base. Val Gamerman, President of Pyramyd AIR, emphasized the importance of safety in outdoor activities and expressed enthusiasm about providing top-tier safety products.
Mace Security International (OTCQB:MACE), a global leader in personal self-defense sprays, announced an additional unsecured subordinated loan of $100,000 from a Board member on May 23, 2024. The initial draw was $20,000. The loan matures on the sooner of July 27, 2025, or when the company's senior line of credit is repaid, and it bears an interest rate of 10% per annum. This funding will be drawn down as needed.
Mace Security International is well-known for its personal safety and security products, including defense sprays and tactical products under various brands like Mace, Mace Take Down, KUROS!, Vigilant, and Tornado. The company distributes its products through numerous channels, including mass market retailers, Amazon, and its website.
Mace Security International (OTCQB:MACE) announced its financial results for Q1 2024, ending March 31, 2024. Net sales dropped 18% to $1,357,000 due to reduced retail impulse buying amid economic concerns, though e-commerce sales surged by 84%. Gross profit margin increased to 33% from 25% in Q1 2023, aided by better channel mix and plant efficiencies. SG&A expenses, adjusted for non-recurring costs, decreased by 7% to $940,000. Adjusted EBITDA loss narrowed to ($488,000) from ($550,000). Despite a net loss of ($739,000), up from ($747,000) the prior year, the company saw positive signs in e-commerce and cost optimization, including a 27% rise in average daily web sessions and a 34% revenue increase on Mace.com in early Q2 2024.
Mace Security International, Inc. has finalized an agreement with Triple4S Safety, to develop a smart pepper spray device that is GPS and Bluetooth enabled, with a replaceable canister, glass breaker, and quick-release keychain. The product is touted as the most advanced in the industry and will appeal to safety-conscious consumers. Mace will handle manufacturing and sales, while both companies will collaborate on marketing strategies.
FAQ
What is the current stock price of MACE SECURITY INTL (MACE)?
What is the market cap of MACE SECURITY INTL (MACE)?
What products does Mace Security International, Inc. offer?
Where are Mace Security International, Inc.'s products manufactured?
What recent partnerships has Mace Security International, Inc. announced?
How long has Mace Security International, Inc. been in operation?
What is the focus of Mace Security International, Inc.?
