News Release
Xigem Technologies provides update on acquisition of EchoDigital
Xigem Technologies
Xigem Technologies CEO Brian Kalish joined Steve Darling from Proactive to shed light on the company's latest venture: the acquisition of EchoDigital, a robust SaaS-driven AI platform focused on automotive shopping and delivery. This strategic move has already begun bearing fruit as Xigem received noteworthy results from the newly acquired asset in the initial quarter of 2023. Following the successful acquisition, and in alignment with the stipulated royalty and service-oriented management arrangement, EchoDigital swiftly contributed to Xigem's financials. Impressively, the platform generated gross sales amounting to $439,684, with net sales of $13,191. These early figures underscore the potential and viability of this business endeavor. In addition to this achievement, Xigem faced an interesting development involving one of its vendors. This vendor's entire share portfolio was acquired by Carnance Inc., a reputable player in the market for new and pre-owned vehicles, duly registered with the Ontario Motor Vehicle Industry Council. This transaction carried with it the seamless assumption of all existing obligations, including the royalty and service-centric management agreement and loan agreement inked between Xigem and the vendor during the initial acquisition. As a corollary of the Carnance Transaction, Xigem anticipates a temporary halt in EchoDigital's performance, followed by a prospective resumption in the latter part of its third fiscal quarter or the outset of the fourth quarter in 2023. This intermission is attributed to the procedural transition of responsibilities resulting from the vendor's change in ownership. Despite this pause, Xigem remains enthusiastic about the future outlook of EchoDigital, projecting a positive trajectory as the business realigns and accelerates growth in the specified quarters. Contact Details Proactive Canada +1 604-688-8158 na-editorial@proactiveinvestors.com
August 22, 2023 02:03 PM Eastern Daylight Time
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Cepton looking to capitalize on business initiatives as company delivers strong 2Q financials
Cepton Inc
Cepton Inc chief financial cfficer Hull Xu joined Steve Darling from Proactive to discuss the company's second-quarter performance. Cepton achieved a milestone by setting a new company record for shipments of its LiDAR technology, demonstrating its robust momentum in the automotive and smart infrastructure markets. Xu emphasized the notable achievement of Cepton, pointing out that the company is poised for a substantial increase in shipment volume in each successive quarter throughout the remainder of the year. He also highlighted a significant accomplishment within the company's portfolio, as Cepton is actively fulfilling a multi-million dollar tolling contract, underscoring its strong standing in the market. The company is on track to meet orders to support original equipment manufacturers' (OEM) start of production by the end of the year and has successfully delivered to General Motors with support from Koito, a strategic partner. Xu also provided insights into Cepton's Smart Infrastructure division. The company has secured its first production orders for lidar installations in multiple airports across the United States. Cepton is in advanced discussions to expand these projects to additional states and countries, showcasing the increasing adoption of its lidar solutions in various sectors. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com
August 22, 2023 01:37 PM Eastern Daylight Time
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Ocean Power Technologies announces major milestone in the field of autonomous maritime technology
Ocean Power Technologies Inc
Ocean Power Technologies vice president of sales Matt Burdyny joined Steve Darling from Proactive to share an exciting development within the company. Ocean Power Technologies has achieved a significant milestone by successfully demonstrating the capabilities of its Wave Adaptive Modular Vessel during the 10th Annual Maritime Security West event. During the event, the company showcased the WAM-V's capability to remotely attach itself to a buoy and establish a connection for charging. Burdyny explained to Proactive that the achievement was the outcome of on-water trials conducted earlier in the month. This successful connection and charging capability represent a notable advancement in integrating renewable energy sources within the maritime industry. Burdyny emphasized that this achievement has important implications for the future of autonomous vessels. The successful docking of the WAM-V to the buoy demonstrates the potential for extended-duration autonomous operations, which could open up a range of applications within the maritime sector. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com
August 22, 2023 01:32 PM Eastern Daylight Time
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Wishpond shares 2Q financials including a healthy jump in quarterly revenue year-over-year
Wishpond Technologies Ltd.
Wishpond Technologies CEO Ali Tajskandar and CFO David Pais joined Steve Darling from Proactive to discuss the company's second-quarter financial results, which reveal notable growth in revenue attributed to various factors, including increased product demand, expanded sales and marketing efforts, and the introduction of new products. Pais informed Proactive that during 2Q 2023, the company achieved revenue of $5,639,417, marking a 13% increase from the $5,007,343 generated in the corresponding period of 2022. Notably, Wishpond also achieved a positive adjusted EBITDA of $215,926, signifying a substantial 212% increase from the previous year. Tajskandar added that in this quarter, the company successfully finalized the acquisition of Essential Studio Manager (ESM), a significant addition to its portfolio and the sixth acquisition in the company's history. The integration of ESM broadened Wishpond's offerings to include features like invoicing, customer relationship management, and business management functionalities. Moreover, Wishpond has been diligently working on the development of additional AI-powered marketing tools, set to be launched in the upcoming quarters. He also touched on a game-changing AI product, Sales Closer AI, capable of autonomously handling sales calls, which could revolutionize the sales industry. Tajskandar also emphasized the growing popularity of the company's flagship Propel IQ platform, which has been gaining traction in the market. Early indicators point to improved margins and increased customer retention for this platform, reflecting its robust value proposition. Contact Details Proactive Canada +1 604-688-8158 na-editorial@proactiveinvestors.com
August 22, 2023 01:27 PM Eastern Daylight Time
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Toggle3D.ai announces company is now trading on the OTCQB using the ticker TGGLF
Toggle3D.ai Inc
Toggle3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to discuss the company's recent achievement of having its common shares listed for trading in the US on the OTCQB Venture Market. The company's stock symbol on this market is TGGLF. Gappelberg conveyed to Proactive that being listed on the OTCQB Venture Market signifies a significant step forward for Toggle3D.ai. The listing is subject to meeting elevated financial standards and disclosure requirements, demonstrating the company's commitment to maintaining transparency, adhering to good governance practices, and achieving a certain level of financial and operational success. The OTCQB Venture Market is known for being a reputable and well-regulated platform for trading stocks, which can offer enhanced visibility, accessibility, and liquidity for companies. By successfully uplifting to this market, Toggle3D.ai is positioning itself to tap into a broader pool of investors and potentially expand its reach in the US. Gappelberg's discussion highlights Toggle3D.ai's dedication to its growth trajectory and commitment to providing valuable investment opportunities for stakeholders. As the company continues its journey, its presence on the OTCQB Venture Market is anticipated to contribute to its overall market exposure, potentially driving further interest and engagement from investors in the U.S. and beyond. Contact Details Proactive Canada +1 604-688-8158 na-editorial@proactiveinvestors.com
August 22, 2023 01:21 PM Eastern Daylight Time
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Sofy’s Monthly Active Users Grow 20x: Cloud Device Lab Opens to Meet Customer Demand
Sofy
Today Sofy, a testing platform for software developers which accelerates product release times by 95 percent, opened a new cloud device lab. Based in Dallas, the facility provides mobile app developers with immediate access to an assortment of new iOS and Android devices. Developers around the world can run QA tests on real devices without writing a single line of code. “We’re launching our new facility as a direct result of customer demand,” said Syed Hamid, founder and CEO, Sofy. “Over the past six months, our existing customers have doubled their average device usage time, and our monthly active users have grown 20x. We needed another facility to host more physical iOS and Android devices, ensuring that developers can access any device they need with 99.99% availability.” Sofy’s cloud device lab offers distinct advantages over both emulators and in-house device labs. Emulators only mimic real devices and cause significant headaches if hardware or software conditions change, while in-house device labs are expensive and require continual maintenance. Sofy’s cloud device lab provides genuine testing environments, ensuring accurate assessment of app performance, usability, and compatibility across a fragmented device landscape. By offering a robust array of devices via the cloud, testers can quickly identify and address issues that may only surface in real-world usage scenarios. This ultimately leads to the creation of reliable and polished apps. More information on Sofy’s device lab is available here: https://sofy.ai/products/device-lab/. A free trial is also available for users to test complex apps at scale here: https://gosofy.com/freetrial About Sofy: The best way to automate is not to write automation code but rather leverage the power of AI to create resilient, no-code automation so QA teams can focus on testing. Sofy is an intelligent tool that simplifies testing and saves time, increases productivity, and shortens testing cycles. Sofy is powered by machine learning and real devices to let QA teams simplify manual, automated, and robotic testing while saving time and money. Contact Details Forrest Carman +1 206-859-3118 forrestc@owenmedia.com Company Website https://sofy.ai/
August 22, 2023 09:00 AM Pacific Daylight Time
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US Tech volatility presenting opportunities this week - OptionsDesk
Options Desk
OptionsDesk broker Simon Hanouka speaks to Thomas Warner from Proactive at the end of a bruising ten-day period for the FTSE 100, and a head of a busy week of tech earnings in the US. Hanouka addresses this morning's change in fortunes for London's blue chip index, which gained around 1% in early trading following the announcement of measures to boost the Chinese economy and the strong performance of London's energy companies. He adds that European stocks are also showing higher sentiment. Over in the US, markets are expecting fresh earnings data from tech operators Zoom and NVIDIA. NVIDIA faces high expectations after a remarkable 200% stock rise this year. With concerns over demand fulfilment following disappointing figures from their supplier TSM, AMD's new AI chip release presents an opportunity. Hanouka suggests considering put spreads for potential plays on NVIDIA and emphasises the need for protective options on the S&P ahead of the upcoming Jackson Hole event. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
August 22, 2023 09:38 AM Eastern Daylight Time
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SPARK Microsystems rejoint l'Alliance mondiale des semi-conducteurs
SPARK Microsystems
SPARK Microsystems, une entreprise canadienne de semi-conducteurs spécialisée dans les communications sans fil à courte portée de nouvelle génération, a annoncé aujourd'hui qu'elle était officiellement devenue membre de la Global Semiconductor Alliance (GSA), la voix de l'industrie mondiale des semi-conducteurs. Cette affiliation témoigne de l'engagement de SPARK à stimuler l'innovation, à favoriser l'adoption des technologies et à relever en collaboration les défis qui se posent à l'ensemble de l'industrie. « La GSA est un catalyseur important pour la collaboration au sein de l'écosystème mondial des semi-conducteurs ». a déclaré Fares Mubarak, PDG de SPARK Microsystems. « Devenir membre permet à SPARK, qui met l'accent sur le développement durable, d'apporter des contributions importantes à la communauté des semi-conducteurs qui partage notre passion pour l'innovation, la collaboration et le progrès technologique ». SPARK Microsystems est un leader de la technologie sans fil à courte portée. Les émetteurs-récepteurs sans fil de la société exploitent le spectre à bande ultra-large pour réduire considérablement la consommation d'énergie des appareils connectés, tout en offrant les débits de données élevés et la faible latence synonymes de connexions filaires - sans les fils. Que ce soit pour le gaming ou les applications IoT, ces attributs de performance sont essentiels pour permettre la prochaine génération d'appareils mobiles connectés sans fil et de capteurs optimisés pour une efficacité énergétique élevée. « La Global Semiconductor Alliance est ravie d'accueillir SPARK Microsystems dans son réseau d'entreprises technologiques innovantes", a déclaré Jodi Shelton, PDG de la GSA. "Les solutions uniques de SPARK dans le domaine de la technologie sans fil à courte portée à haute performance et à faible consommation d'énergie, son engagement en faveur de l'efficacité et de la durabilité, et sa volonté d'excellence en matière d'innovation font de cette société un ajout idéal à notre alliance. Nous sommes impatients de travailler avec l'équipe de SPARK pour façonner l'avenir de l'industrie des semi-conducteurs ». La GSA offre à SPARK une plateforme internationale pour présenter sa technologie et contribuer au dialogue mondial sur les défis et les opportunités liés aux semi-conducteurs. La GSA représente plus de 25 pays et 250 entreprises membres, dont 100 entreprises publiques. Grâce à sa plateforme unique et neutre, les membres de la GSA vont des entreprises émergentes les plus prometteuses aux piliers de l'industrie des semi-conducteurs et aux leaders technologiques. Ses membres représentent 70 % de l'industrie des semi-conducteurs, qui pèse plus de 450 milliards de dollars. En s'associant à la GSA, SPARK aura l'occasion de collaborer avec ces leaders de l'industrie et d'influencer l'orientation de l'industrie des semi-conducteurs à l'échelle mondiale. À propos de SPARK Microsystems SPARK Microsystems construit la prochaine génération de dispositifs de communication sans fil à courte portée. SPARK fournit des liens de communication sans fil à haut débit et à très faible latence avec un profil de puissance ultra-faible, ce qui le rend idéal pour les réseaux personnels (PAN) utilisés dans les produits mobiles, grand public et connectés à l'IoT. S'appuyant sur des technologies brevetées, SPARK Microsystems s'efforce de minimiser et, à terme, d'éliminer les fils et les batteries d'un large éventail d'applications tout en offrant une performance semblable à celle d'un fil. Pour plus d'informations, veuillez consulter www.sparkmicro.com. Contact Details Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website https://www.sparkmicro.com
August 22, 2023 09:31 AM Eastern Daylight Time
News Release
SPARK Microsystems Joins Global Semiconductor Alliance
SPARK Microsystems
SPARK Microsystems, a Canadian fabless semiconductor company specializing in next-generation short-range wireless communications, announced today that it has officially become a member of the Global Semiconductor Alliance (GSA), the voice of the global semiconductor industry. This affiliation signifies SPARK’s commitment to driving innovation, fostering technology adoption, and addressing industry-wide challenges collaboratively. "GSA is an important catalyst in building collaboration within the worldwide semiconductor ecosystem.” Said Fares Mubarak, CEO, SPARK Microsystems. “Becoming a member enables SPARK, with its specific focus on sustainability, to make important contributions to the semiconductor community who share our passion for innovation, collaboration, and technology advancement.” SPARK Microsystems is at the forefront of short-range wireless technology. The company’s wireless transceivers leverage the ultra-wideband spectrum to dramatically reduce energy consumption for connected devices while delivering the high-data rates and low latency synonymous with wired connections – without the wires. From gaming to IoT applications, these performance attributes are essential for enabling the next generation of wireless connected mobile devices and sensors optimized for high energy efficiency. "The Global Semiconductor Alliance is delighted to welcome SPARK Microsystems into our network of innovative technology companies," said Jodi Shelton, CEO of the GSA. "SPARK's unique solutions in high performance, low power short-range wireless technology, its commitment to efficiency and sustainability, and its drive for innovative excellence makes the company an ideal addition to our alliance. We look forward to working with SPARK’s team to shape the future of the semiconductor industry." The GSA offers SPARK an international platform to showcase its technology and contribute to the global dialogue around semiconductor challenges and opportunities. The GSA represents over 25 countries and 250 corporate members, including 100 public companies. As a result of its unique, neutral platform, GSA membership ranges from the most exciting, emerging companies to semiconductor industry stalwarts and technology leaders. Its members represent 70% of the $450B plus semiconductor industry. By partnering with the GSA, SPARK will have an opportunity to collaborate with these industry leaders and influence the direction of the semiconductor industry on a global scale. About SPARK Microsystems SPARK Microsystems is building next generation short-range wireless communication devices. SPARK provides high data rate and very low latency wireless communication links at an ultra-low power profile, making it ideal for personal area networks (PANs) used in mobile, consumer and IoT-connected products. Leveraging patented technologies, SPARK Microsystems strives to minimize and ultimately eliminate wires and batteries from a wide range of applications while delivering a wired-like performance. For more information, please visit www.sparkmicro.com. Contact Details Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website https://www.sparkmicro.com
August 22, 2023 09:29 AM Eastern Daylight Time
