MINIM INC - MINM STOCK NEWS

Minim, Inc. (NASDAQ: MINM) has announced a definitive merger agreement with e2Companies, LLC to create a NASDAQ-listed company focused on Automated Grid Stability. The merger aims to drive proprietary solutions for grid modernization, with the combined company expected to operate under the name e2Companies, Inc. The transaction is anticipated to close in the second quarter of 2024, offering AI data-driven networking solutions for customers.

Minim Inc. (NASDAQ: MINM) issued a statement addressing unusual trading in its common stock, denying any undisclosed information accounting for the recent increase in market price and trading volume.

Minim, Inc. (MINM) Receives Notice of Non-Compliance from Nasdaq Due to Form 10-Q Filing Delay

Minim, Inc. announced that Dustin Tacker has resigned from his role as Chief Financial Officer. His resignation is not due to any dispute or disagreement with the company. Minim has initiated a search process to find a permanent replacement.

Minim, Inc. (NASDAQ: MINM) has appointed Jeremy Hitchcock as its Executive Chairman, succeeding Mehul Patel, who has stepped down to pursue other opportunities. Hitchcock, who has a background as the Founder and former CEO of Minim and co-founder of Dyn, emphasized the company's commitment to enhancing its software strategy to capture a significant share of the consumer home networking market. With annual revenues of $50 million and a market capitalization under $5 million (0.1x sales), Hitchcock believes there is considerable potential for value creation. The announcement follows a positive trend in Minim's efforts to improve WiFi connectivity through intelligent software solutions under the globally recognized Motorola brand.

Minim, Inc. (Nasdaq: MINM) announced a 1-for-25 reverse stock split, effective April 17, 2023, to boost its share price above the $1.00 minimum required for continued listing on Nasdaq. Post-split, the total outstanding shares will reduce from approximately 47.15 million to around 1.89 million. Shareholders will receive cash payments for any fractional shares. The action aims to enhance the company’s compliance with listing requirements while maintaining shareholders’ percentage interests. Additional details are available in Minim’s definitive proxy statement filed with the SEC on March 14, 2023.

Minim, Inc. (Nasdaq: MINM) reported its fourth quarter and full-year financial results for 2022, revealing a net revenue decline of 8.7% to $50.6 million compared to 2021. The gross margin dropped to 23.6% from 34.1% in 2021, while the net loss ballooned to ($15.5) million from ($2.2) million in the prior year. For Q4 2022, revenue was $10.6 million, down 23.2% from Q3. The company has initiated a 20% cost reduction plan and successfully reduced inventory and accounts payable. Looking ahead, Minim aims to launch its new Support+ subscription service to enhance profitability.

Minim, Inc. (NASDAQ: MINM) announced it will host a conference call and live webcast on March 29, 2023, at 8:30 a.m. ET to discuss its fourth-quarter and full-year results for the period ending December 31, 2022. Interested participants can join the conference via toll-free dial-in numbers or through a live webcast on the company's investor relations site. A recording will be available afterward. Minim, established in 1977, focuses on delivering intelligent software and networking products under the Motorola brand, helping users optimize their WiFi connections.