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Nixxy (NASDAQ:NIXX) has announced key business updates regarding its contract with Mexedia SpA and regulatory filings. The company projects revenue generation from the Mexedia Contract to commence in March 2025, with an anticipated monthly revenue run rate of $25-27 million as operations scale, subject to market conditions and execution.
Additionally, Nixxy has voluntarily withdrawn its Form S-1 Registration Statement (File No. 333-283625) filed on December 5, 2024. The withdrawal decision was made in shareholders' best interests as the additional facility is no longer required. No securities were sold in connection with the Registration Statement, which had not been declared effective by the SEC.
Nixxy (NASDAQ:NIXX) has announced a $10 million share repurchase program authorized by its Board of Directors. The program is set to begin within 30 days and will span approximately 180 days. The company plans to fund the buyback through existing cash balances, retained and future earnings, and potential strategic investments.
According to Interim CEO Miles Jennings, the repurchase program is part of their broader capital allocation strategy and aims to provide additional flexibility while executing strategic priorities. The initiative aligns with Nixxy's objectives to optimize capital deployment and support long-term growth.
Nixxy, Inc. (NASDAQ:NIXX) has outlined strategic growth initiatives focused on AI-driven technology to capture opportunities in telecommunications, SMS, and data services. The company recently acquired TKOS Systems software assets on February 21, 2025, an AI platform specializing in these sectors, which has already secured global partnerships including with Mexedia, SpA.
Nixxy's strategy involves integrating with existing customer systems to enhance billing and transactional processes through AI-driven efficiencies. The company plans to build a sales team to expand its customer base throughout fiscal 2025.
Following this acquisition, Nixxy has revised its internal revenue projections to approximately $25-27 million monthly, contingent on market conditions and successful integration. The company aims to achieve net profitability on a per-share basis by year-end and intends to provide intra-quarterly revenue tracking updates to enhance transparency.
Nixxy is targeting market expansion and strategic acquisitions with the potential to reach a $1 billion enterprise value, focusing on building long-term shareholder value through operational growth and strategic opportunities.
Nixxy (NASDAQ:NIXX) announces its subsidiary Auralink AI has secured a 12-month contract with Mexedia SpA, an Italian technology provider, for AI-enabled telecommunications services worth up to $120 million. Starting May 1, 2025, Auralink AI will provide SMS services through its cloud-based platform, with potential monthly revenue of up to $10 million.
The agreement includes Auralink's AI platform for dynamic billing and quality-based routing. The contract will automatically renew after the initial term. Mexedia reported revenues of €323,871,000 for 2023.
The company is focusing on transforming traditional businesses with technology and plans additional vertical integration to increase margins. Nixxy is also in discussions with several acquisition targets and plans to announce key leadership appointments in the coming weeks.
Nixxy (NASDAQ:NIXX) announced its entry into the telecommunications and data sectors through the acquisition of AI-integrated billing, Unified Communications, and Contact Center software assets. The company plans to launch these services under a new subsidiary, Auralink AI, in Q2 2025.
The company targets ambitious revenue goals: $5 million monthly revenue run rate for Q2 and $10 million monthly revenue run rate in Q3. The platform integrates AI into switching, billing, and customer management elements of communications and data interconnections.
The acquisition positions Nixxy in a market with significant growth potential: the global telecom billing revenue management market, valued at $14.21 billion in 2024, is expected to grow at a 9.43% CAGR through 2029. The broader UCaaS market, valued at $87.39 billion in 2024, is projected to grow at a 19.8% CAGR through 2030.
Nixxy (NASDAQ:NIXX) has announced the withdrawal of its proposed private offering of up to $50 million in Bitcoin-based, zero-coupon convertible notes. The company's board determined that current market conditions and significant progress in its acquisition strategy made the financing no longer beneficial for shareholders.
The company revealed it is in final negotiations for an acquisition of entities that have generated material revenues and show substantial growth potential. Nixxy expects to complete this acquisition before the end of February 2025, though this timeline is not guaranteed. According to Chairman Evan Sohn, while the Bitcoin-related financing was potentially advantageous, it was deemed incompatible with the company's primary focus on acquiring revenue-producing assets utilizing cutting-edge technology.
Nixxy (NASDAQ:NIXX) has announced the commencement of a private offering of up to $50 million in zero-coupon convertible notes to accredited investors. The notes will mature one year from issuance and feature a conversion price of $7.50 per share of common stock. The conversion amount will be determined based on Bitcoin's historical volume weighted average price.
The notes will be purchased and secured with Bitcoin. Nixxy will grant noteholders customary registration rights for shares issuable upon note conversion. The offering, including the notes and potential conversion shares, has not been registered under the Securities Act of 1933 and cannot be sold without registration or applicable exemption.
Nixxy (NASDAQ:NIXX) has appointed Debra Chen Volpone as Chief Executive Officer and Board member, effective immediately. This strategic move aims to drive the company's growth through AI and data-driven technologies, with an initial focus on transforming the $11 billion global gift retailing industry.
The appointment comes as Nixxy advances discussions to acquire wholesale gift agency JustGot2HaveIt (JG), previously announced on November 1, 2024. Ms. Volpone brings over 20 years of senior executive experience, having driven shareholder value for more than 300 publicly traded companies through capital markets strategy and corporate development.
Prior to joining Nixxy, Volpone served as Director at a Los Angeles-based corporate communications firm since 2013, was president of Oxford Metrica, and held executive positions at China Cablecom Holdings and China Networks International Holdings. She began her career at Lehman Brothers and JP Morgan, specializing in global derivatives and currency swaps.
Nixxy has successfully completed its restructuring process, addressing earlier Nasdaq delisting threats and eliminating debt through strategic partnerships. The company has maintained good standing with Nasdaq and remains current in SEC reporting. A new USA-based CEO will be appointed to replace outgoing President and CEO Granger Whitelaw, who will stay until December 31 or until the transition is complete. The restructuring over the past 10 months has strengthened the company's financial foundation, reflected in increased trading price and volume during the last 3 months. The company plans to focus on expanding into new markets, enhancing operational efficiencies, and driving innovation in product development.
Nixxy (NASDAQ:NIXX) has announced the withdrawal of the previously set record date (November 15, 2024) for its planned spin-off of subsidiary Atlantic Energy Solutions (OTC:AESO), also known as CognoGroup. The decision is attributed to ongoing strategic evaluation of corporate structure, pending regulatory reviews, optimization of shareholder value, and alignment with broader strategic objectives.
CEO Granger Whitelaw stated that this withdrawal will provide additional time to better align with corporate aims and ensure orderly distribution of CognoGroup shares. The company maintains that the spin-off remains a strategic priority and will provide an updated timeline in a subsequent announcement.
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