TELKONET INC - TKOI STOCK NEWS

VDA Telkonet's Tech Report 2024 outlines the direction of tomorrow's hotels towards the well-being of the entire hotel ecosystem. The report discusses the application of neuroscientific monitoring to the hospitality sector and explores the potential of technology, neuroscience, artificial intelligence, and data analysis for the evolution of the hotel industry. It also highlights the benefits of technology in improving staff operational efficiency and enhancing the guest experience.

Telkonet, Inc. (OTCQB:TKOI) announced plans to voluntarily deregister its common stock from the Exchange Act and suspend reporting obligations. This decision, aimed at reducing public reporting expenses, will be formalized by a Form 15 filing after the 2022 10-K submission, due by March 31, 2023. The board believes this move will help the company focus on profitability and management efficiency. Telkonet will continue to evaluate the listing of its stock on OTC Markets and will issue further announcements on its public reporting approach by April 30, 2023.

Telkonet (TKOI) has launched its new occupancy-based Energy Management Solutions in Europe, aiming to reduce energy costs by 20-40%. The company reported a revenue increase of approximately 33% for the nine months ended September 30, 2022, totaling $6.11 million. Product revenue rose by 42% to $1.83 million, while recurring revenue increased by 15%. However, net losses were recorded at $0.70 million for the latest quarter, compared to a net income of $0.02 million last year, primarily due to prior gains on loan forgiveness.

Telkonet, Inc. (OTCQB:TKOI), a U.S. IoT innovator based in Wisconsin, is enhancing its sales team to boost market share and its position in smart energy solutions. The company recently appointed two Regional Sales Managers and launched a revamped website emphasizing customer benefits from IoT technologies. Telkonet's experience in hospitality and energy management is complemented by its partnership with VDA Group S.p.A. for international market access. The release includes forward-looking statements highlighting risks such as liquidity and compliance with financial covenants.

Telkonet, Inc. (OTCQB:TKOI) has launched its occupancy-based Energy Management Solutions (EMS) in Europe, aiming to help facilities reduce energy costs by 20-40%. With a partnership with VDA Group S.p.A., Telkonet aims to tap into the European market, boasting a 29% revenue increase since 2021. Their solutions target the 7 million hotel rooms across Europe, where only 10% are equipped with similar systems. The company is optimistic about growth despite potential risks including liquidity issues and market demand uncertainties.

Telkonet Inc. launched Aida, an advanced smart thermostat at HITEC Orlando 2022. This versatile device supports Wi-Fi, BLE, and Zigbee protocols and features a wide power range of 18-277 V. Designed for hotels, student housing, and universities, Aida aims to optimize energy management and reduce consumption. It integrates with Telkonet's Rhapsody IoT platform, offering multi-site capability and ease of installation. The product reflects a blend of technology and design, enhancing sustainability in energy usage.

Telkonet has completed a strategic financing deal with VDA Group, receiving $5 million for a majority of its shares and a warrant for additional shares. This partnership aims to enhance both companies' market positions in Intelligent Automation, energy management, and IOT technology, targeting sectors like hospitality and assisted living. Key leadership changes include Piercarlo Gramaglia from VDA as new CEO of Telkonet. The transaction positions Telkonet to expand globally and leverage synergies in technology and service.