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Siyata Mobile Announces Second Quarter Financial Results

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Management to Host Conference Call at 8:30 a.m. ET on Friday, August 16

VANCOUVER, BC, Aug. 15, 2024 /CNW/ — Siyata Mobile Inc. (Nasdaq: SYTA) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced its financial results for the three months ended June 30, 2024.

Marc Seelenfreund, CEO of Siyata, said, “Second quarter revenue growth was tempered in large part due to the timing of the delivery of customer orders. However, we have a backlog of more than $7 million of confirmed orders, which gives us strong visibility into the second half of 2024. As such, we expect the third quarter will be a break-out quarter with high double digit year-over-year growth as the delivery of orders accelerates. We have achieved ‘stocked’ status for our SD7 handsets with four of the largest North American cellular carriers and continue to tap into new vertical markets reinforcing a growth trajectory that extends into 2025 and beyond.”

Key financial highlights for the three months ended June 30, 2024:

Revenues were $1.6 million compared to $2.7 million for the three months ended June 30, 2023.Gross profit of ($144,000), or -8.9% of revenue, compared to $804,000, or 29.7% of revenue, in the same period last year, primarily due to a one-time heavily discounted transaction to an international reseller which we believe will positively impact revenue in second half of 2024.Net loss was $12.9 million as compared to a net loss of $2.3 million in the same period in the prior year, primarily due to a non cash recognition of the differences between fair value of capital raises compared to cash received resulting in a $6.7 million additional loss, as well as a $1.0 million loss due to transaction costs incurred for the financings and $2.0 million of marketing costs on investor awareness of our Company.Adjusted EBITDA was ($3.8 million), versus ($2.0 million) in the prior year.

Liquidity and Capital Resources

As of June 30, 2024, the Company had a cash balance of $2.7 million compared to $0.9 million as of December 31, 2023.

During the second quarter, the company closed two public offerings of common shares and/or pre-funded warrants to purchase common shares for gross proceeds of approximately $10 million in aggregate.

Conference Call Details

The Company will host a conference call at 8:30 a.m. ET on Friday, August 16, 2024 to discuss its second quarter 2024 financial results.

Date: Friday, August 16, 2024
Time: 8:30 a.m. Eastern Time/5:30 a.m. Pacific Time
North America dial-in number: 888-506-0062
International toll-free dial-in number: 973-528-0011
Access Code: 922573

A replay will be available until August 30, 2024. To access the replay, dial +1 (877) 481-4010 or +1 (919) 882-2331. When prompted, enter Passcode 51033.

The call will also be available over the Internet and accessible at: https://www.webcaster4.com/Webcast/Page/2988/51033

About Siyata Mobile

Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.

In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.

Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.

Siyata’s common shares trade on the Nasdaq under the symbol “SYTA”.

Visit www.siyata.net and unidencellular.com to learn more.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata’s current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Siyata’s filings with the Securities and Exchange Commission (“SEC”), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release. 

— Tables Follow —

Siyata Mobile Inc.

Condensed Consolidated Statements of Financial Position

(Expressed in US dollars)

USD

USD

June 30,
2024

December 31,
2023

Assets

Current

Cash

2,653,226

898,771

Trade And Other Receivables

1,508,799

1,181,257

Prepaid Expenses

2,244,232

29,673

Inventory

2,299,647

3,544,519

Advance To Suppliers

891,144

1,048,227

9,597,048

6,702,447

Long Term Receivable

142,904

147,100

Investment in Securities

1,000,000

–

Right Of Use Assets

500,849

630,793

Equipment

157,022

175,335

Intangible Assets

7,785,176

7,856,730

Total Assets

19,182,999

15,512,405

Liabilities And Shareholders’ Equity

Current

Loans to Financial Institutions

619,068

89,298

Sale of future receipts

2,152,375

1,467,899

Accounts Payable and Accrued Liabilities

4,087,199

3,449,103

Deferred Revenue

3,182

2,025

Short Term Lease Liability

243,214

254,668

Warrant Liability and Preferred Shares

10,755,482

156,433

17,860,520

5,419,426

Long Term Lease Liability

284,393

385,639

284,393

385,639

Total Liabilities

18,144,913

5,805,065

Shareholders’ Equity

Share Capital

92,565,727

85,714,727

Reserves

14,845,086

14,644,200

Accumulated Other Comprehensive Loss

98,870

98,870

Deficit

(106,471,597)

(90,750,457)

1,038,086

9,707,340

Total Liabilities And Shareholders’ Equity

19,182,999

15,512,405

 

Siyata Mobile Inc.

Condensed Consolidated Statements of Loss and Comprehensive Loss

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

Three Months Ended

Six Months Ended

June 30,
2024

June 30,
2023

June 30,
2024

June 30,
2023

Revenue

$

1,890,968

$

2,710,717

$

4,248,847

$

4,513,354

Cost Of Sales

(1,694,154)

(1,906,227)

(3,188,616)

(3,212,347)

Gross Profit

196,814

804,490

1,060,231

1,301,007

10.4

%

29.7

%

25.0

%

28.8

%

Expenses

Amortization And Depreciation

433,129

453,499

837,787

855,139

Development Expenses

–

31,465

35,000

85,450

Selling And Marketing

954,388

987,803

2,102,406

1,991,168

Equity promotion and marketing

2,000,000

250,000

2,150,000

591,200

General And Administrative

1,033,301

1,503,382

2,071,853

2,554,612

Bad Debts (Recovered)

–

10,148

18,858

10,148

Share-Based Payments

83,762

260,705

200,886

571,533

Total Operating Expenses

4,504,580

3,497,002

7,416,790

6,659,250

Net Operating Loss

(4,307,766)

(2,692,512)

(6,356,559)

(5,358,243)

Other Expenses

Finance Expense

942,283

41,251

1,722,039

75,349

Loss on issuance

6,129,282

–

6,129,282

–

Loss on extinguishment of financial liability

601,163

–

601,163

–

Foreign Exchange

(1,706)

(78,762)

(10,651)

(78,599)

Change In Fair Value of Warrant Liability

(31,986)

(321,384)

(54,570)

1,856,623

Transaction Costs

977,318

–

977,318

–

Total Other Expenses

8,616,354

(358,895)

9,364,581

1,853,373

Net Loss for The Period

(12,924,120)

(2,333,617)

(15,721,140)

(7,211,616)

Comprehensive Loss for The Period

(12,924,120)

(2,333,617)

(15,721,140)

(7,211,616)

Weighted average shares (after 18 to 1 reverse split)

108,922

5,417

70,307

4,691

Basic and diluted loss per share

(118.65)

(430.78)

(223.61)

(1,537.33)

 

Reconciliation to Adjusted EBITDA

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

Three Months Ended

Six Months Ended

June 30,
2024

June 30,
2023

June 30,
2024

June 30,
2023

Net operating loss

(4,307,766)

(2,692,512)

(6,356,559)

(5,358,243)

addback

Amortization And Depreciation

433,129

453,499

837,787

855,139

Share-Based Payments

83,762

260,705

200,886

571,533

Adjusted EBITDA

(3,790,875)

(1,978,308)

(5,317,886)

(3,931,571)

 

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SOURCE Siyata Mobile Inc.

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Register a Birth, Live: Secure Identity Alliance Hosts OSIA Live Interoperability Demo at TRUSTECH Paris

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Six identity technology providers will run a complete birth registration through the OSIA standard (ITU-T X.1281), with a different line-up of vendors each day, 1–3 December 2026

BRUSSELS, Nov. 5, 2026 /PRNewswire/ — The Secure Identity Alliance (SIA) today announced the OSIA Live Interoperability Demo, which will run throughout TRUSTECH Paris, 1–3 December 2026, at Paris Expo Porte de Versailles. Six identity technology providers, DIGITECH, iDAKTO, IN Groupe, Mühlbauer, Thales and X Infotech, will connect their systems through OSIA, the international standard for interoperable identity management systems (ITU-T Recommendation X.1281). Together they will run a complete birth registration, from checking the parent’s identity to a birth certificate printed on a card and verified on the spot.

Join us at Trustech and drop in to get your birth certificate on the spot. Register free here!

The birth certificate is the first identity document a person receives, and the foundation for every credential that follows: national ID, passport, driving licence. Yet in many countries it is still a paper document that is easy to forge and hard to recover if lost. Modernizing means connecting many components, such as enrollment, biometrics, unique identification number generation and credential management systems and civil and population registries. These are often supplied by different vendors, and without a shared standard each connection is a costly custom integration that ties governments to a single supplier.

At the demo, visitors play the child whose birth is being registered. The parent’s identity is first obtained and checked, and the visitor gives their details and a live face capture. After data verification, the birth is registered and a unique identification number (UIN) is attributed to the visitor, playing the child. Visitors then receive their birth certificate on the spot: their data and portrait are printed on a card together with a visible digital seal (QR code). Finally, they present the QR code to a mobile app, which verifies their identity by collecting the data and portrait from the different OSIA-powered identity systems.

To protect privacy, visitors’ faces appear on screen and are stored only for the purpose of printing the birth certificate in the framework of the demo. No fingerprints are captured, and the child is fictional. All data is erased at the close of each day.

“Interoperability is often presented as a promise. At TRUSTECH, governments will see it work, from a child’s very first identity record to a credential that can be trusted anywhere,” said Debora Comparin, Chair of the OSIA Initiative. “Six independent companies that compete have built one seamless process together, and they swap places every day. That is what OSIA gives governments: the freedom to choose the best system building block for each step, without lock-in.”

The demo will also be presented on stage on Wednesday 2 December at 12:00 in the ID Conference Room.

Practical information
OSIA Live Demo Area, Alley D, between the Innovation Stage and the ID Conference Room, TRUSTECH Paris, Paris Expo Porte de Versailles, 1–3 December 2026. Open drop-in during show hours. On stage: Wednesday 2 December, 12:00, ID Conference Room. More information: www.osia.io #OSIALiveDemo

About the Secure Identity Alliance
The Secure Identity Alliance brings together leading global providers of identity technology. SIA leads OSIA, eSEC, ADIA and co-leads SIDI Hub. SIA is a supporting organization of the ITU Focus Group TIDA. www.secureidentityalliance.org 

About OSIA
OSIA is the international standard for interoperable identity management systems, published as ITU-T Recommendation X.1281. It defines open interfaces between the building blocks of identity systems, so governments can combine components from different suppliers and avoid vendor lock-in. www.osia.io

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Omaha Steaks Nears 5 Million Corporate Gifts, Expands Business Gifting Program and Holiday Resources

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 Businesses can send Omaha Steaks holiday gifts to employees, clients and customers using updated corporate gift certificates that are easier to redeem online, with support from dedicated gifting experts

Key Takeaways:

Holiday Gifting Support for Businesses of All Sizes: Omaha Steaks’ online planning resources and dedicated Business Gift Experts help businesses plan gifts for employees, clients and customers, from a small team thank you to a companywide holiday program.Corporate Gifts with No Minimum Order: Businesses can customize Omaha Steaks corporate gift certificates with refreshed designs and choose from updated gift selections for a range of budgets.Simple Online Gift Certificate Redemption: Recipients can redeem their Omaha Steaks corporate gift certificates online and choose their own gifts.

OMAHA, Neb., Nov. 5, 2026 /PRNewswire/ — Omaha Steaks has expanded its business gifting program and added online holiday planning resources to help companies recognize employees, thank clients and show appreciation to customers. Businesses of all sizes can order printed or digital gift certificates, with no minimum order.

With the updated Omaha Steaks Gift Certificate program, businesses can choose from gift collections at different price points to manage their budget. Recipients can redeem their certificates online through a simplified process and select their own gift from curated collections of premium steaks, seafood, family meals, and other gourmet foods.

Omaha Steaks provides businesses with a dedicated Business Gift Expert at no cost. The expert helps with gift planning, personalization and delivery coordination for orders ranging from a single employee appreciation gift to a companywide holiday gifting program.

Omaha Steaks expects to surpass 5 million corporate gifts sent since 2000 by the end of 2026. Since 2020, the company has delivered more than 1.1 million corporate gifts, and recipients chose nearly half (46%) of those gifts using an Omaha Steaks gift certificate. Recipients have redeemed more than 530,000 gift certificates over that period. More than 5,000 businesses have used Omaha Steaks for corporate gifting.

“A holiday gift is a chance to thank an employee for their hard work or show a client or customer how much you value their business,” said Matt Burdette, director of sales operations at Omaha Steaks. “We help businesses take care of the details, and our corporate gift certificates let recipients choose a meal they can share with family and friends.”

How Omaha Steaks Corporate Gift Certificates Work

Businesses choose a gift collection that fits their budget and send printed or digital Omaha Steaks corporate gift certificates. Recipients redeem their certificates online and choose a gift from the collection.

No need to collect home addresses. Businesses can email or hand out gift certificates without collecting recipients’ home addresses. Recipients enter their delivery address when they redeem their certificates online.Easier online browsing and streamlined redemption. Updated website navigation helps recipients browse the gift collection, choose their preferred gift, and redeem their certificate online.Modernized designs: Printed certificates, E-certificates and the online redemption site now share a consistent look.Refreshed gift selections: Recipients can choose from updated collections of premium steaks, seafood, family meals and other gourmet options, including vegetarian and dessert options to meet all matters of taste.

How to Order Omaha Steaks Corporate Gifts

Omaha Steaks has no minimum order for corporate gifts. Businesses can shop online or get help from a Business Gift Expert, depending on how many people they’re gifting and whether they need customization.

Fewer than 10 recipients: Shop business gifts online or work with a personal shopper to choose gifts.10 or more recipients or custom orders: A Business Gift Expert can help select gifts, personalize messages and coordinate delivery.Volume Pricing and Company Logos: Volume pricing is available for qualifying business orders. Company logo options may be available for qualifying orders of 50 or more gifts.

Businesses can select gifts themselves or send corporate gift certificates so recipients can choose their own gifts.

Omaha Steaks Corporate Holiday Gifting Resources

Omaha Steaks has also expanded its online resource hub and business gifting blog to help companies choose gifts for employees and clients, set a budget and plan delivery.

As part of the expansion, Omaha Steaks partnered with Lucy Lantis, an entrepreneur, Fulbright Scholar and organizational facilitator, on a series for The Block about employee recognition. In “A Gift Five Generations Can Agree On,” Lantis explores how food gifts can show appreciation to employees across generations by giving them a meal to share with family and friends.

“A thoughtful gift starts with considering the person receiving it,” Burdette said. “Our expanded resources help businesses approach those decisions with more confidence, whether they’re thanking a small team or coordinating gifts across an entire organization.”

For Christmas 2026, businesses should order mailed Omaha Steaks Choice Gift Certificates by Dec. 11 to help ensure delivery by Christmas. E-certificates can be ordered through Dec. 23. To explore options or place an order, visit the Omaha Steaks corporate gift certificate page.

To explore business gifting resources, visit business.omahasteaks.com/resources. For help planning a corporate gifting program, call 1-800-228-2480 to speak with an Omaha Steaks Business Gift Expert.

About Omaha Steaks®

Omaha Steaks, America’s Original Butcher, founded in 1917, is an Omaha, Nebraska-based, fifth-generation, family-owned company. Omaha Steaks markets and distributes a wide variety of the finest quality USDA-approved, grass-fed, grain-finished beef and other gourmet foods including seafood, pork, poultry, slow cooker and skillet meals, side dishes, appetizers and desserts. Today, Omaha Steaks is recognized as the nation’s largest direct response marketer of premium beef and gourmet foods, available to customers by calling 1-800-228-9055, online at www.OmahaSteaks.com or at retail stores nationwide.

For Omaha Steaks:
Kathleen Al-Marhoon, APR
kathleena@omahasteaks.com 

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SOURCE Omaha Steaks

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Thermador Taps Knifewear and Canadian Artist Paul Morstad for 110th Milestone Collaboration

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Luxury appliance pioneer celebrates milestone anniversary with a limited-edition handcrafted chef’s knife featuring a distinctive blue handle inspired by Thermador’s signature brand colour Forged in Echizen, Japan by master bladesmith Ryusen Hamono, featuring an elite ATS-314 stainless steel blade with a swirling flame pattern and original artwork by Canadian artist Paul Morstad110th anniversary celebration honours Thermador’s legacy of engineering excellence and ongoing commitment to Canada’s culinary and design communities and cooking enthusiasts

TORONTO, Nov. 5, 2026 /CNW/ — Thermador, the iconic home appliances pioneer that shaped the modern luxury kitchen, is celebrating its 110th anniversary with an exclusive Canadian collaboration with Knifewear, the Calgary-based, chef-founded destination for Japanese kitchen knives. To mark the milestone, the two brands have co-created a limited-edition Japanese chef’s knife featuring a custom wood handle finished in a distinctive blue hue inspired by Thermador’s signature brand colour.

Since 1916, Thermador has redefined the modern luxury kitchen through a legacy of pioneering breakthroughs, from inventing the first built-in wall oven to revolutionizing cooktop engineering. As Thermador marks 110 years of culinary leadership, that legacy becomes a starting point for what comes next. The commemorative knife brings together craftsmanship, performance, and purposeful design, transforming a colour synonymous with the Thermador brand into a new expression for the culinary space.

“Celebrating 110 years is about honouring our legacy of innovation while inspiring what’s next in the kitchen,” said Ashley Audisho, Head of Marketing, Thermador Canada. “Our collaboration with Knifewear embodies ‘Thermador Blue’– an evolutionary design detail that ignited from the perfect flame on our gas cooktops and ranges –into a symbol of culinary craft and functional art.”

Masterful Japanese Metallurgy & Functional Art
Handcrafted by Ryusen Hamono in Echizen, Japan–a region with 700 years of blacksmithing heritage–the commemorative blade features an elite ATS-314 stainless steel core wrapped in a swirling flame pattern that mirrors Thermador’s culinary fire. The knife is finished with a custom wood handle in signature Thermador Blue, offering a balanced, ergonomic grip for precision prep work.

“Both Thermador and Knifewear are dedicated to bringing functional art into the kitchen,” said Kevin Kent, Founder and Owner of Knifewear. “Every design detail of this knife reflects that shared spirit–from the swirling flame pattern in the steel mirroring Thermador’s culinary fire, to the custom wood handle in Thermador Blue. Handcrafted by Ryusen Hamono, it’s a blade that bridges Japanese bladesmithing with Thermador’s legacy of performance.”

Just as Thermador meticulously engineers every detail of its appliances, every element of this collaboration has been thoughtfully curated. To complement the Japanese bladesmithing, Canadian visual artist Paul Morstad was commissioned to create original artwork for the presentation packaging to celebrate this milestone. By uniting master artisans across disciplines–from fine art to metallurgy–Morstad’s work bridges Canadian heritage and storytelling with the fluid lines of the Ryusen blade.

Reflecting the ultra-rare nature of this partnership, the commemorative release is limited to an exclusive run of just 50 collector’s units across Canada.

Investments Continue in Canadian Design and Culinary Innovation
More than a celebration of where Thermador has been, this milestone marks a bold look toward the future. Commemorating 110 years of leadership, the brand is deepening its presence in Canada with key anniversary investments, beginning with a comprehensive refresh of its flagship Experience & Design Centre in Toronto. Slated to reopen in early 2027, the revamped space will reinforce its role as a premier culinary hub for Canada’s architecture, design, and trade communities.

The debut of the reimagined Freedom® Columns portfolio further signals what’s ahead. Featuring more than a dozen built-in columns across fresh food, freezer and wine preservation, the collection brings together elevated interior design, next-generation cooling technology, thoughtful organization and intuitive innovation, all crafted to transform the everyday kitchen experience. Together with the limited-edition anniversary collaboration and enhanced showroom experience, this next generation of refrigeration builds on Thermador’s 110-year legacy of innovation while setting the stage for what’s next in the luxury kitchen.

For more info, visit www.thermador.ca and follow the brand on Instagram at @ThermadorHomeCanada to stay up-to-date on Thermador’s growing presence in Canada.

About Thermador
Since 1916, Thermador has pioneered breakthroughs that have shaped the modern kitchen – from the world’s first wall ovens and stainless-steel appliances, gas cooktops with the patented Star® Burner, the first full-surface induction appliance to the first modular built-in fresh food, freezer and wine preservation columns. Founded in Southern California, the brand’s rich history has shaped it into today’s luxury home appliance icon. 

The Masterpiece® collection inspires with contemporary design elements and industry leading technology, while the Professional collection delivers the ultimate in boldly designed, luxury smart appliances for restaurant-caliber performance at home. Thermador is part of Munich based BSH Home Appliances Group (a Bosch Group company), the largest manufacturer of home appliances in Europe and one of the leading companies in the sector worldwide. For more information, visit www.Thermador.ca or follow us on Facebook and Instagram at: www.facebook.com/ThermadorCanada and @ThermadorHomeCanada, respectively.

About Knifewear
Started with half a dozen knives and an old bicycle, Knifewear opened its first shop in Calgary in 2007. Today, the chef-owned Canadian success story has six stores across the country, which means they no longer have to sell knives out of a backpack behind restaurants. Japanese knives are functional art pieces. They’re made by hand with the hardest steel; they get sharper and stay sharp longer, making them safer and more fun to cook with. They last a lifetime; it’s not unusual to see them passed down to the next generation.

Knifewear is all about making it easier for folks to cook good food. They connect home cooks & professionals with the best Japanese craftsmanship. Often a mysterious world, the team of foodies and former chefs cut through the jargon and technical details to find you the very best knife for your kitchen.

Media Contact
Drydon Chow
Account Director, Group SJR
drydon.chow@groupsjr.com
416.407.2112

SOURCE Thermador

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