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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, Inc. has partnered with Mid-States Distributing Company to offer its entire product line to 36 members employing over 30,000 associates across approximately 700 locations in 33 states and five Canadian provinces. The partnership aims to expand Mace's market reach, with anticipated revenue starting in Q3 2022. Mace will participate in the Mid-States trade show on August 19-20, showcasing its commitment to individual empowerment and safety.
Mace Security International, Inc. (OTCQX:MACE) announced the adoption of Amended and Restated Bylaws on June 7, 2022, enhancing corporate governance. Key changes include advance notice provisions for stockholder nominations and business proposals, enabling clearer participation in meetings. It also permits action without a meeting with consent from 80% of stockholders. Furthermore, the Exclusive Forum Provision establishes specific venues for legal disputes. An extension of the 2012 Stock Incentive Plan was approved, now set to be considered for stockholder approval.
Mace Security International, Inc. (OTCQX:MACE) has modified its 2022 Investor Relations Events schedule. In response to inquiries, the Board is exploring strategic alternatives, leading to the decision to skip investor conferences during this evaluation. Key upcoming events include the Q2 2022 Earnings Call on August 2 and the Annual Shareholders' Meeting on August 4. MACE, a leader in personal safety, has over 40 years of experience in designing defense products. For further details, stakeholders can reach out to Mike Weisbarth.
Mace Security International (OTCQX:MACE) reported first quarter 2022 financial results, showing net sales of $2,156,000, a 35% decline from Q1 2021. This decrease was attributed to reduced retail impulse purchases due to inflation and challenging comparisons with the prior year's record sales. Despite lower sales, the gross margin improved to 42% due to operational efficiencies. However, the company faced a net loss of $584,000 and an increase in SG&A expenses to 66% of net sales, primarily due to CEO transition costs. Cash reserves fell to $24,000.
Mace Security International, Inc. (OTCQX:MACE) will host its Q1 2022 earnings conference call on May 3, 2022, at 11:00 AM EDT. Investors can access the call by dialing (833) 360-0862 using conference ID 3433019. A detailed financial results release will be issued after market close on May 2, 2022, along with a slide presentation available on Mace's website. A digital recording of the call will also be accessible post-event, with the recording available until May 10, 2022.
Mace Security International (OTCQX:MACE) has announced a partnership with Cornwell Quality Tools to distribute its personal safety products through over 750 mobile tool franchisees across the U.S. This collaboration is aimed at enhancing community safety and empowering individuals. Cornwell's established presence in the automotive and aviation sectors complements Mace's strategy, reaching approximately 630,000 technicians who may prioritize personal safety. Mace's product offerings include various defense and security tools, reinforcing its brand in the industry.
Mace Security International, Inc. (OTCQX:MACE) announces the resignation of Jayne E. Juvan from its Board of Directors, effective April 8, 2022. Ms. Juvan, who served since 2020 and chaired the Mergers & Acquisitions and Securities & Capital Markets practice group at Tucker Ellis, stepped down due to other commitments. Chairman and CEO Sanjay Singh expressed gratitude for her contributions during the company's turnaround over the past two years.
Mace Security International, Inc. (OTCQX:MACE) has initiated a review of potential strategic alternatives in light of third-party inquiries. These options may include remaining independent, merging, or engaging in other strategic alliances. No formal timeline has been set, and decisions are still pending. The board has appointed Carleton McKenna & Co., LLC as the financial advisor and Squire Patton Boggs (US) LLP as legal advisor for this process. Mace, a leader in personal safety products, emphasizes that there is no guarantee a transaction will occur.
Mace Security International (MACE) has announced its fourth quarter and full-year 2021 results. The fourth quarter net sales were $2,553,000, down 42% from the same quarter in 2020, largely due to a drop in retail sales and supply chain issues. Despite a 103% increase in bear spray sales, the gross margin declined to 37%. The company's EBITDA was -201,000, reflecting ongoing challenges. Full-year revenue was $13,072,000, a 15% decrease compared to 2020. Mace is launching an innovative product called CHAMELEON to enhance market engagement.
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