Novra Technologi - NVRVF STOCK NEWS

Novra Technologies (TSXV: NVI) reports strong Q4 2024 orders totaling over $2.3 million, nearly matching the combined bookings from Q1-Q3 2024. The company secured major orders across multiple product lines, including a significant contract for a European nationwide broadcast radio network using IDC's MAP Pro Audio receivers. Additional orders include digital signage equipment for a health video network and an international bank, plus IP Encapsulators for a US weather data service. While many expected orders from 2024 were delayed due to market uncertainties, the company sees these Q4 orders as a positive shift after a challenging year.

Novra Technologies Inc. (TSXV: NVI) has secured a $12.258 million convertible loan agreement with a US-based private investment group. The loan has a two-year term with a 1.0% annual interest rate. The lender can convert the loan to Novra common shares at $0.34 per share, which is over eight times the previous closing price of $0.04. If fully converted, this would result in 36,053,000 new common shares. Novra plans to use the funds to pay off liabilities and for working capital, focusing on R&D, product enhancement, and expansion into new markets. The agreement is subject to TSX Venture Exchange approval and may require shareholder approval.

Novra Technologies Inc. (TSXV: NVI) announced changes following the retirement of Peter J. Wintemute from its Board of Directors. Wintemute served as Director, Chair, and audit committee chair from June 20, 2003, until August 22, 2024. In response, the Board elected Harris Liontas as its new Chair. Additionally, Dr. Moe Barakat was appointed as a new Director effective September 1, 2024.

Dr. Barakat, an accomplished entrepreneur and business leader in wireless communication and information systems, brings extensive experience to Novra's Board. He previously held positions with Novra as its first President & CEO (2000-2001) and as a Director (2000-2006). The company expects his expertise to contribute significantly to their strategy of meeting customers' emerging needs through innovation and superior service.

Novra Technologies and its subsidiary, International Datacasting (IDC), announced an order from Radio Renascença in Portugal to upgrade its network with IDC's latest MAP Pro Audio receivers. These advanced receivers feature new efficient codecs, Livewire AoIP distribution, backward compatibility, MISTiQ cloud distribution, and enhanced cybersecurity. The upgrade aims to improve audio quality and broadcasting efficiency. This continued partnership, with support from regional partner Aicox Soluções, highlights the strong relationship between IDC and Radio Renascença, a customer for over a decade.

Novra Technologies Inc. (TSXV: NVI) released its financial results for the year ended December 31, 2023, showcasing a return to net income profitability after a slow start. The company reported a $136 thousand net income, a $610 thousand improvement from 2022, with Adjusted EBITDA of $845 thousand. Novra strategically reduced operating expenses while maintaining product quality and service excellence, leading to a strong cash position at the end of the period. The company is focusing on transitioning hardware products into software and services to ensure revenue stability and growth.

Novra Technologies Inc. announced the promotion of Rodney Allan to President of the Novra Group of companies. Allan, who joined International Datacasting Inc. in 2013, has been instrumental in driving the development of IDC's innovative MISTiQ technology. Harris Liontas, CEO of Novra, expressed confidence in Allan's ability to lead and innovate, allowing Liontas to focus on overall corporate strategy and key partnerships. Allan is set to focus on developing new technologies, products, and services to drive customer success and enhance internal processes and systems across all Novra Group companies.

Novra Technologies Inc. (TSXV: NVI) (OTCQB: NVRVF) reported a profitable Q3 with improved gross margins and reduced operating expenses. Although nine-month revenue declined by $888 thousand, net income loss improved by 55% over the same period in 2022. Novra's cash position is strong, with bank deposits of over $1.2 million, $1.4 million in cashable guaranteed investment certificates (GICs), and a bank credit facility of $845 thousand providing a large pool of liquid funds.

Novra Technologies Inc. releases financial results for Q2 2023, showing improved revenue and net income compared to previous year. Operating costs reduced by 11%. Adjusted EBITDA positive at $85 thousand. Novra has $2.7 million in cash deposits. Received US patent for new technology. Pent up demand in markets, but economic uncertainty and rising interest rates causing some clients to delay investments. Customer diversity has improved. Expanding software products into SaaS model for recurring revenue. Selected by two major Canadian broadcasters for cloud-based content distribution. Overall positive outlook.