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Siyata Mobile, Inc. (SYTA) is a B2B global developer and vendor known for its innovation in Push-to-Talk over Cellular (PoC) handsets and accessories. Established in 2010, the company made its mark with the world's first 3G fixed truck phone. Building on this success, Siyata introduced the Voyager connected vehicle smartphone in 2013 and the portable Bagfone, extending connectivity to remote areas.
The company specializes in vehicle-mounted, cellular-based communications platforms over advanced 3G mobile networks and cellular booster systems. Siyata serves a range of rugged business-to-business environments, including first responders, enterprise customers, construction workers, security guards, government agencies, and more. With operations in the USA, Canada, EMEA, and Australia, Siyata derives the majority of its revenue from the USA.
Siyata's flagship products include the SD7 handset and related accessories, which are now stocked by three of the four largest U.S. wireless carriers. The SD7 is the only direct radio replacement device offered by wireless carriers, making it a popular choice across various verticals such as schools, first responders, security, and construction. Recent orders for the SD7 and its accessories are valued at over $2.2 million.
The company's innovative product line is complemented by enterprise-grade in-vehicle solutions and cellular booster systems, enhancing communication in areas with weak cellular signals. Siyata's solutions are marketed through leading North American cellular carriers and international distributors.
Siyata has recently expanded its product portfolio with the introduction of the SD7 Wired Palm Mic Pro with AI Noise Cancellation. This device features advanced AI technology to isolate the human voice while suppressing background noise, making it ideal for loud environments.
Financially, Siyata reported a 30% revenue growth, a higher gross margin, and improved Adjusted EBITDA for Q1 2024. The company's liquidity remains strong, bolstered by a recent public offering that raised approximately $4 million. Siyata's continuous innovation and strategic partnerships position it as a global leader in the $10 billion PoC market.
Siyata shares trade on Nasdaq under the symbol "SYTA", and its warrants under the symbol "SYTAW". For more information, visit www.siyata.net and unidencellular.com.
Siyata Mobile Inc. announced that its SD7+ push-to-talk device will integrate Visual Labs' body camera software, combining communication and body camera functions. This innovation targets first responders and provides advantages over traditional systems by eliminating the need for two separate devices. The SD7+ operates on a 4G LTE network, enabling remote video streaming and secure storage. The body-worn camera market is projected to grow from $444 million in 2018 to $1.5 billion by 2025, indicating strong potential for this new offering. Both companies aim to leverage existing carrier relationships for rapid deployment.
Siyata Mobile Inc. is set to present at the ThinkEquity investor conference on October 26, 2022, at 12:30 p.m. ET in New York. The company, listed on NASDAQ:SYTA and NASDAQ:SYTAW, specializes in Push-to-Talk over Cellular (PoC) devices and cellular boosters. Attendees can schedule one-on-one meetings with the VP of Corporate Development, Daniel Kim. The conference highlights over 70 small and micro-cap companies, facilitating investor engagement.
Siyata Mobile Inc. has successfully closed a $4.0 million registered direct offering. The company sold approximately 15,810,000 common shares and issued pre-funded warrants, with an effective purchase price of $0.23 per share. In addition, the concurrent private placement involved warrants for 17,400,000 common shares, expiring after five years. The net proceeds will be allocated for general corporate and working capital purposes. Maxim Group LLC acted as the sole placement agent for this offering.
Siyata Mobile Inc. (Nasdaq:SYTA/SYTAW) announced a securities purchase agreement with institutional investors to raise approximately $4.0 million through a registered direct offering. The company plans to sell 15,810,000 common shares and 1,590,000 pre-funded warrants at an effective price of $0.23 per share. This offering will include warrants for an additional 17,400,000 common shares, set to expire in five years. Proceeds will be allocated for general corporate expenses and working capital, with the closing anticipated by October 12, 2022.
Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW) has secured a significant purchase order from a U.S. federal government contractor to supply Uniden® cellular booster kits to the U.S. Navy. This order is a major milestone as it marks the company's first foray into military sales. The Uniden® U70P cellular booster kits will enhance cellular coverage in naval buildings with poor reception, supporting up to 100 devices across 20,000 square feet. CEO Marc Seelenfreund highlighted the achievement as a stepping stone for future military and government opportunities.
Siyata Mobile announces the integration of its SD7 device with CrisisGo's Panic App, enhancing instant communication between teachers and first responders in U.S. schools. This integration aims to improve safety during crises, allowing teachers to alert police and emergency services with a single button press. With approximately 3.8 million teachers and 100,000 public schools in the U.S., this solution presents significant market potential. The partnership is expected to help schools comply with Alyssa's Law, improving emergency response protocols.
Siyata Mobile Inc. (Nasdaq:SYTA, SYTAW) announced it has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's common shares traded below $1.00 for 30 consecutive business days. Siyata has a compliance period of 180 days, ending on February 22, 2023, to meet the requirement. If compliance is not achieved, the company may receive an additional grace period, potentially requiring actions such as a reverse stock split. The notification does not affect the continued trading of its shares.
Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW) reports a significant ramp-up in sales for its next-generation SD7 Push-to-Talk (PTT) device. Targeting multiple verticals including security, EMS, and government agencies, the company is seeing expanded volume purchases. CEO Marc Seelenfreund highlighted strong delivery across diverse customers. The SD7's features, such as 4G LTE operation and a rugged design, facilitate enhanced communication for first responders without infrastructure costs. The device is certified with major North American carriers and aims to innovate PTT communications.
Siyata Mobile reported Q2 2022 revenues of $970k, reflecting a significant 172% increase year-over-year. Key agreements with North American carriers and international distributors are enhancing sales of the new SD7 rugged push-to-talk device. Adjusted EBITDA improved to -$3.36M, compared to -$4.61M a year prior, while net losses decreased from -$10.86M to -$4.30M. The company ended the quarter with a cash balance of $4.05M. Management expressed optimism for sustained growth in Q3 2022.
Siyata Mobile will showcase its next-generation SD7 mission-critical push-to-talk over cellular device at the APCO 2022 conference from August 7-10 in Anaheim, California. This rugged Android-based device operates on the 4G LTE network, offering reliable communication for first responders and enterprise clients without the need for additional infrastructure like radio towers. CEO Marc Seelenfreund noted significant sales progress since its debut last year. The SD7 aims to modernize communication for public safety professionals, addressing limitations of traditional Land Mobile Radios.
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