Welcome to our dedicated page for Paragon Technologies news (Ticker: PGNT), a resource for investors and traders seeking the latest updates and insights on Paragon Technologies stock.
Paragon Technologies Inc. (PGNT) is a diversified holding company with strategic interests in material handling, real estate, and value-driven investments. This page aggregates official news and analysis related to PGNT’s operational developments, financial updates, and corporate governance activities.
Investors and stakeholders will find timely updates on earnings reports, strategic acquisitions, capital restructuring initiatives, and leadership decisions. The curated content ensures transparent access to PGNT’s progress in risk management, non-dilutive financing strategies, and portfolio optimization.
Key news categories include financial performance, industry partnerships, shareholder communications, and regulatory filings. Bookmark this page for streamlined access to Paragon Technologies’ latest developments and historical announcements.
Paragon Technologies (OTC:PGNT) is facing a leadership challenge as its Nominating and Corporate Governance Committee criticizes former Chairman and CEO Hesham Gad's attempt to regain control of the company. The committee highlights Gad's alleged poor track record, including underperforming investments during a bull market, mismanagement of foreign subsidiaries, and neglect of core business SI Systems.
In response, the company has outlined a five-pillar strategic plan including: rebuilding SI Systems, repositioning SED International Holdings for Latin American expansion, liquidating underperforming real estate assets, reallocating capital from failed investments, and pursuing U.S.-based acquisitions. The committee urges shareholders to reject Gad's consent solicitation by not signing his white consent card and supporting the current board with a blue consent revocation card.
Paragon Technologies (OTC PINK:PGNT) is facing a consent solicitation from former CEO and Chairman Hesham M. Gad, who seeks to remove four current board directors and replace them with his handpicked nominees. The Nominating and Corporate Governance Committee strongly opposes this action, citing Gad's alleged misconduct including working illegally in the US without a valid visa and potential violations of fiduciary duties.
The company urges stockholders to reject Gad's white consent card and instead submit the blue consent revocation card. The current board is implementing a strategic plan focusing on: rebuilding SI Systems infrastructure, expanding SED International Holdings beyond Colombia, liquidating underperforming Ohana Home Services condominiums and investment portfolio, and identifying accretive acquisition targets to reduce dependence on SED International de Colombia.
The Record Date for stockholder consent is expected to be May 19, 2025.Paragon Technologies (OTC:PGNT) has issued a letter urging stockholders to reject a consent solicitation by former CEO Hesham M. Gad. On April 29, 2025, Gad initiated an attempt to regain control of the company by seeking to remove all current directors except himself and replace them with his handpicked nominees.
The company's Nominating Committee strongly opposes Gad's solicitation, citing his alleged illegal residence in the US without a valid visa during his tenure as CEO, which potentially exposed the company to legal and financial risks. The committee has outlined a strategic plan focusing on: rebuilding SI Systems, expanding SED International Holdings beyond Colombia, liquidating underperforming Ohana Home Services condominiums and investment portfolio, and identifying accretive acquisition targets.
Paragon Technologies announced that Interim CEO and Director Samuel S. Weiser will not seek re-election at the upcoming Annual Meeting of Shareholders. Weiser, who has served since 2012, cited the need for new independent directors to lead the company forward following a tumultuous period.
The announcement reveals serious allegations against former leader Mr. Gad, including claims of undisclosed misappropriation of corporate funds and concerns about work authorization status. Weiser and Col. Jacobs had removed Gad in August 2024.
The company outlined a strategic plan focusing on:
- Rebuilding SI Systems infrastructure
- Expanding SED beyond Colombia
- Liquidating underperforming Ohana Home Services condominiums
- Selling off poor-performing investment portfolio
- Seeking accretive acquisitions to reduce dependence on SEDC
Chairman David Lontini praised Weiser's contributions in identifying issues and managing litigation challenges.
Paragon Technologies has responded to board nominations by former CEO Sham Gad, detailing serious allegations of misconduct. The company's Audit Committee revealed that Gad, who was terminated for cause in November 2024, allegedly engaged in multiple instances of deception and misuse of corporate assets.
Key findings include:
- False claims of U.S. citizenship on various official documents
- Unauthorized work status while serving as CEO
- Misappropriation of over $82,000 in sports tickets
- Costly activist campaigns that led to significant losses, including a $3 million campaign against Ocean Power Technologies
The Board has rejected Gad's attempt to nominate five individuals for the 2025 Annual Meeting, including himself. The company's Nominating Committee deemed Gad unfit for board membership despite being the largest shareholder. Shareholders will vote at the upcoming Annual Meeting, scheduled before June 30, 2025, with a record date of May 12, 2025.
Paragon Technologies (OTC PINK:PGNT) has announced a mutual settlement agreement with Hesham M. Gad, effectively ending their ongoing litigation. The settlement terms specify that Mr. Gad will withdraw his claims against multiple Paragon directors, including Samuel S. Weiser, Jack H. Jacobs, H. Timothy Eriksen, David Lontini, and Howard Brownstein.
In a reciprocal move, Paragon has agreed to dismiss its counterclaims against Mr. Gad. This resolution marks the conclusion of the legal dispute between both parties.
Paragon Technologies (OTC PINK:PGNT) has reported its financial results for the year ended December 31, 2024. The company achieved revenue of $126 million, a slight increase from $125 million in 2023, while maintaining net income of $1.1 million.
Income before taxes and non-controlling interest reached $2.9 million in 2024, up from $2.7 million in 2023. The company incurred legal expenses of $896,392, significantly lower than the $1,963,842 in 2023. The investment portfolio recorded realized losses of $749,000 and unrealized gains of $277,000.
Under interim CEO Sam Weiser's leadership, Paragon is implementing strategic changes, including enhanced corporate governance, separation of CEO and Chairman roles, and addition of three independent directors. The company is focusing on operational efficiency, revenue growth, and strategic asset management while divesting non-profitable assets.
Hesham 'Sham' Gad, the largest stockholder of Paragon Technologies (OTC PINK:PGNT) with approximately 28.4% ownership, has announced his intention to solicit proxies and consents for his proposed slate of five director candidates for election to the Company's Board of Directors.
The announcement, made on March 26, 2025, follows his previous press release from March 18, 2025, which detailed information about the director candidates and expressed concerns regarding the Board's entrenchment actions and wasteful spending. Gad emphasized his commitment to working towards securing a bright future for Paragon for the benefit of its stockholders.
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