Friday, June 28, 2019 3:12:09 PM
Nice coverage of Siyata from Seeking Alpha:
"Siyata provides a communication solution for commercial fleets and first responders. The lead product is the UV350 which mounts on a vehicle dashboard and is connected to the battery. The device is operated by push button, similar to a walkie-talkie, and instantly connects via nationwide cellular service to the designated fleet or group of first responders without having to dial a telephone number.
The company had some success in marketing their 3G product but sales peaked in 2017 as the market attention turned to 4G. Siyata is much better prepared for its 4G launch. The company almost simultaneously launched sales in Israel, Canada, Australia, New Zealand and the U.S. This time sales are being conducted by tier 1 wireless carriers and the product price has gone up from $300 to a still reasonable $1000.
The U.S. addressable market is over a billion dollars as I presented here. If the company gets just a tiny fraction of its addressable market, it will outpace its earnings in any previous year. In their best year, 2017, they recorded revenues of $14.12 million. I estimate that revenues above $17 million will turn this into a profitable company. With the support of sales from tier 1 wireless companies, much higher revenue is to be expected. Capturing just a small fraction of their addressable market will make this company very profitable.
Looking at the balance sheet and cash flow, Siyata is well funded to survive its product launch. The company received its largest cash infusion since going public by converting over $6 million of warrants in March, reporting cash on hand of $5.1 million and working capital of $8.5 million. Cost of operations for the year should come in under $4 million. The company will need to become profitable this year or will need further financing. CEO Mark Seelenfreund said he expects the company will be profitable this year in an interview last week."
Recent SYTA News
- Siyata Mobile Announces New Order for Private Security Firm • PR Newswire (US) • 09/19/2024 11:00:00 AM
- Siyata Mobile Achieves Bureau of Indian Standards (BIS) Certification • PR Newswire (US) • 09/12/2024 11:00:00 AM
- Siyata Mobile Achieves Bureau of Indian Standards (BIS) Certification • PR Newswire (Canada) • 09/12/2024 11:00:00 AM
- Siyata Mobile to Showcase PTT Solutions at EMS World Expo September 9 - 13 • PR Newswire (Canada) • 09/09/2024 11:00:00 AM
- Siyata Mobile to Showcase PTT Solutions at EMS World Expo September 9 - 13 • PR Newswire (US) • 09/09/2024 11:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/03/2024 08:45:05 PM
- Siyata Mobile Appoints Campbell Becher to Board of Directors • PR Newswire (Canada) • 09/03/2024 11:00:00 AM
- Siyata Mobile Appoints Campbell Becher to Board of Directors • PR Newswire (US) • 09/03/2024 11:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/23/2024 08:40:20 PM
- Siyata Mobile Expands Presence in Mining Vertical with Order for SD7 Handsets from a Global Mining Company • PR Newswire (US) • 08/23/2024 11:00:00 AM
- Siyata Mobile Expands Presence in Mining Vertical with Order for SD7 Handsets from a Global Mining Company • PR Newswire (Canada) • 08/23/2024 11:00:00 AM
- Spartan Capital Securities Announces Successful Closing of Siyata Mobile Inc.’s $4.0 Million Public Offering of Common Shares and Pre-Funded Warrants • GlobeNewswire Inc. • 08/19/2024 03:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/16/2024 04:58:43 PM
- Siyata Mobile Announces New Order from New Customer for SD7 Handsets for Use at Beaches and Waterfronts in California • PR Newswire (Canada) • 08/16/2024 11:00:00 AM
- Siyata Mobile Announces New Order from New Customer for SD7 Handsets for Use at Beaches and Waterfronts in California • PR Newswire (US) • 08/16/2024 11:00:00 AM
- /C O R R E C T I O N -- Siyata Mobile Inc./ • PR Newswire (US) • 08/16/2024 02:11:00 AM
- /C O R R E C T I O N -- Siyata Mobile Inc./ • PR Newswire (Canada) • 08/16/2024 02:11:00 AM
- Siyata Mobile Announces Second Quarter Financial Results • PR Newswire (Canada) • 08/15/2024 11:59:00 PM
- Siyata Mobile Announces Second Quarter Financial Results • PR Newswire (US) • 08/15/2024 11:59:00 PM
- Siyata Mobile Announces Closing of approximately $4.0 Million Public Offering of Common Shares and Pre-Funded Warrants • PR Newswire (Canada) • 08/15/2024 08:30:00 PM
- Siyata Mobile Announces Closing of approximately $4.0 Million Public Offering of Common Shares and Pre-Funded Warrants • PR Newswire (US) • 08/15/2024 08:30:00 PM
- Form 424B4 - Prospectus [Rule 424(b)(4)] • Edgar (US Regulatory) • 08/14/2024 08:42:09 PM
- Siyata Mobile Inc. Announces Pricing of approx. $4 Million Public Offering of Common Shares and Pre-Funded Warrants • PR Newswire (US) • 08/14/2024 01:00:00 PM
- Siyata Mobile Inc. Announces Pricing of approx. $4 Million Public Offering of Common Shares and Pre-Funded Warrants • PR Newswire (Canada) • 08/14/2024 01:00:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/14/2024 04:15:03 AM
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