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Mer Telemanagement Solutions Ltd. (MTSL) announced that shareholders overwhelmingly approved the merger with SharpLink, Inc. on July 21, 2021, with approximately 99% of votes in favor. SharpLink specializes in innovative sports betting technologies, aiming to enhance engagement for sports leagues and media companies. The merger positions MTSL to tap into the rapidly growing U.S. online sports betting market, leveraging SharpLink's expertise and technology. The transaction is expected to close following finalized regulatory conditions and Nasdaq listing approvals.
Mer Telemanagement Solutions Ltd. (MTSL) will hold an extraordinary general meeting on July 21, 2021, to discuss a proposed merger with SharpLink, Inc. Key agenda items include approving the merger transaction, issuing shares to SharpLink’s shareholders, and electing new board members. The merger could position MTSL to expand into the sports betting sector. Shareholder approval requires majority votes, with certain proposals requiring a 75% majority. The meeting is pivotal for MTSL's future and integration with SharpLink's innovative technology.
Mer Telemanagement Solutions Ltd. (MTSL) announced receiving a notification from Nasdaq about non-compliance with the minimum stockholders' equity requirement of $2.5 million. The company has 45 days until July 8, 2021, to submit a compliance plan. If accepted, Nasdaq may grant an extension of up to 180 days for compliance evidence. Previously, on April 15, 2021, MTSL entered a merger agreement with SharpLink, which is expected to help improve compliance with Nasdaq requirements.
Mer Telemanagement Solutions Ltd. (MTSL) announced the filing of its annual report with the U.S. SEC for the fiscal year ended December 31, 2020. The report features audited consolidated financial statements and is accessible on the company's website. Shareholders can request a hard copy of the report at no charge. MTS specializes in telecommunications expense management, call accounting, and contact center software, operating through subsidiaries in Israel, the U.S., and Hong Kong.
Mer Telemanagement Solutions Ltd. (MTSL) announced its financial results for the six and twelve months ended December 31, 2020, revealing revenues of $1.9 million and a net loss of $(1.2) million for the first half of 2020. Full-year revenues were $4 million, with a net loss of $(1.8) million. The company signed a merger agreement with SharpLink, Inc., aiming to enhance growth in the expanding online betting sector. CEO Roy Hess emphasized a focus on operational efficiency and the launch of their Omnis Contact Center Software, viewed as a future growth driver.
Mer Telemanagement Solutions Ltd. (MTSL) addressed shareholders regarding the upcoming extraordinary meeting on May 5, 2021, initiated by the Lazar Group. The company refuted the group's accusations of incompetence regarding a potential transaction, emphasizing the successful execution of a merger with SharpLink, Inc. The Lazar Group's stake in MTS has significantly dropped from approximately 14.2% to 1.1% after profiting from share sales. Furthermore, Institutional Shareholder Services recommended voting against the Lazar Group's proposals, supporting MTS's current board instead.
Mer Telemanagement Solutions Ltd. (MTSL) has announced a definitive merger agreement with SharpLink, a leader in sports technology and betting solutions. This merger will transition MTSL to focus on SharpLink's business, enhancing shareholder value. Following the merger, SharpLink shareholders are expected to own about 86% of the combined company. The deal is supported by significant institutional funding and aims to capitalize on the growing U.S. sports betting market, projected to reach $9.2 billion by 2025. Shareholder approval is required, with a meeting set for Q2 2021.
Mer Telemanagement Solutions Ltd. (MTS) announces an extraordinary general meeting on May 5, 2021, initiated by the Lazar Group, which holds over 5% of shares. Key proposals include the termination of current directors and elections of new board members: David Lazar, Uri Ben-Or, and Eric Greenberg. The Board recommends voting against these proposals and supports the reelection of Scott Burell and Isaac Onn. Shareholders of record as of April 1, 2021, can vote during the meeting. The Proxy Statement will be sent on or about April 6, 2021.
Mer Telemanagement Solutions Ltd. (MTSL) reported Q2 2020 revenues of $948,000, down from $1,317,000 in Q2 2019. The net loss for the quarter amounted to $628,000, or $0.11 per diluted share, compared to a loss of $76,000 in the same period last year. For the six months ended June 30, 2020, revenue totaled $2.1 million, down from $2.6 million in 2019. The total net loss for this period reached $660,000, or $0.12 per diluted share. Despite these challenges, the CEO noted initial revenues from their new product, Omnis, and ongoing M&A efforts.
On September 24, 2020, Mer Telemanagement Solutions Ltd. (MTSL) held its 2020 Annual General Meeting of Shareholders, where key resolutions were passed. The shareholders re-elected Haim Mer to the Board of Directors and Varda Trivaks as an outside director for another term. Additionally, they approved the procurement of a directors' and officers' liability insurance policy. The reappointment of Kost Forer Gabbay & Kasierer as independent public accountants for the fiscal year ending December 31, 2020, was also ratified, allowing the Board to set their compensation.
