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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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STARTRADER Launches ‘STAR Trading League,’ an NBA-Inspired Global Trading Tournament

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NBA-inspired tournament challenges traders worldwide through three competitive stages: Toss, Knockout, and Buzzer-Beater.

DUBAI, UAE , May 11, 2026 /PRNewswire/ — STARTRADER, an official partner of the NBA, has announced the STAR Trading League, a global team-based tournament uniting traders in a structured, performance-driven environment. Registration runs from 11–28 May, participants select one of 30 teams via the client portal ahead of the 1 June start. The competition runs through 31 July across three stages, concluding with a single winning team, while the top two traders on the team will win tickets to an NBA game along with additional rewards.

Built around the campaign theme ‘Hit the Markets Buzzer Beater,’ the tournament draws inspiration from the decisive final shot in basketball, highlighting how success in both sports and trading often depends on precision and timing at the right moment.

The journey begins with the Toss, the entry stage of the regular season where participants begin competing. Similar to a basketball tip-off, this phase allows traders to position themselves for an early advantage, with performance determining which teams advance and setting the tone for the competition ahead.

The second stage, Knockout, introduces performance-based elimination, requiring teams to demonstrate consistency and strong trading strategies to remain in the tournament. As pressure rises, only teams maintaining strong results advance. This stage begins with the playoff rounds, followed by the quarterfinals.

The final stage, Buzzer-Beater, brings together the top-performing teams for the decisive rounds, beginning with the semifinals, where four teams compete for a place in the next phase. The tournament then advances to the MVP Finals, where the remaining two teams face off for the title. Victory belongs to those who perform with precision and composure in decisive moments.

Participants will compete for rewards throughout each stage of the tournament, with top-performing teams recognized along the way. The winning team of 10 traders may be eligible for tiered rewards, with prizes awarded to qualifying participants. The top two winners will receive premium rewards, including an NBA game ticket, a STARTRADER exclusive basketball, an NBA Store voucher, and a $10,000 cash prize.

“Our partnership with the NBA opened the door to bringing the excitement of sport into trading. With the STAR Trading League, we wanted to build an experience that engages our global community and encourages traders to test their skills in a dynamic, competitive environment.” — Peter Karsten, Chief Executive Officer, STARTRADER

Through the STAR Trading League, launched in collaboration with the NBA, STARTRADER brings its global trading community into a competitive environment where discipline, strategy, and decisive action drive success, reflecting its ambition to deliver innovative trading experiences within a trusted and reliable ecosystem.

About STARTRADER

STARTRADER is a global multi-asset broker empowering retail and institutional partners to access global markets through a range of platforms, including MetaTrader, STAR-APP, and STAR-COPY.

Regulated across five jurisdictions (CMA, ASIC, FSCA, FSA, and FSC), STARTRADER combines strong governance with a client-first approach, serving both retail clients and partners with a commitment to transparency, reliability, and long-term growth.

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Longbridge Names Gavin Chia as Singapore and Regional CEO, Southeast Asia, Marking a New Chapter for the AI-powered digital Brokerage

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SINGAPORE, May 11, 2026 /PRNewswire/ — Longbridge, the AI-powered digital brokerage, has appointed Gavin Chia as Singapore and Regional CEO, Southeast Asia, effective 5 May 2026. Chia brings more than 18 years of experience in financial services and was instrumental in building moomoo Singapore from a startup into one of the country’s leading retail brokerages.

The hire is the most senior local appointment Longbridge has made since and comes as the firm consolidates a series of strategic moves, including obtaining a Capital Markets Services licence from the Monetary Authority of Singapore (MAS) and announcing its first physical location — into a coherent push for market leadership in the region.

An Executive Move with Industry Significance

Singapore is one of Asia’s most fiercely competitive digital brokerage markets, with several leading platforms, such as Longbridge, moomoo, Tiger Brokers and Webull. Industry observers are largely in agreement that in the next few years, the landscape will be shaped by AI and technological capability, and the ability to localize and adapt to each country’s local environment.

With Gavin joining Longbridge, this clearly demarcates Longbridge’s dedication towards improving on both fronts.

A Proven Builder for a New Growth Phase

Gavin Chia is one of Singapore’s most experienced digital brokerage executives. As moomoo’s CEO in Singapore, he led the business from inception to become one of the leading digital brokerages in the market. He subsequently served as CEO of IG Singapore & Emerging Markets, deepening his track record of driving growth, product expansion, and market leadership across the region.

His deep familiarity with the MAS regulatory landscape, local retail investor behaviour, and the operational realities of scaling a brokerage in Southeast Asia makes him a highly strategic appointment for Longbridge at this stage of its growth.

At Longbridge, Gavin will have full ownership of operations, regulatory affairs, product localization, and team-building across Singapore and Southeast Asia.

“What attracted me to Longbridge is its strong technology foundation and clear ambition to redefine the brokerage experience through AI. I see a strong alignment between Longbridge’s vision and my own belief that the future of investing lies at the intersection of technology, product innovation, and user experience. The opportunity to build and scale this in the region, together with a forward-looking team, was particularly compelling.”

— Gavin Chia, Singapore and Regional CEO, Southeast Asia, Longbridge

What “AI-First” Means in Practice

For Gavin, an AI-first brokerage goes beyond a product feature, it is a foundational philosophy about how the entire client experience is designed and delivered.

“To me, an AI-first brokerage is one where AI is not just a feature, but embedded across the entire client journey, from onboarding and education, to idea generation, execution, and risk management. AI is fundamentally reshaping how people invest. It lowers the barrier to entry by simplifying complex information, enables more personalised insights at scale, and helps investors make more informed decisions in real time. Over time, we hope to see investing become more intuitive, data-driven, and accessible, where technology augments, rather than replaces, human judgement.”

— Gavin Chia, Regional CEO, Southeast Asia, Longbridge

Longbridge is among a small number of digital brokerages globally to have embedded AI at the product architecture level, across investment research, trading assistance, and customer insights. This commitment to innovation extends beyond AI. Longbridge made history in 2025 by launching the world’s first U.S. stock options pre-market trading, a milestone that underscores its position at the frontier of brokerage technology. A central part of Gavin’s mandate will be to bring these capabilities to investors across Southeast Asia, in a form that is locally relevant and meets the regulatory requirements of each market.

“We are delighted to have Gavin on board. Over the past few months, we have laid a great deal of groundwork for this Singapore chapter, including our MAS licence, platform infrastructure, product suite, and the Longbridge Cafe Singapore physical space. But to weave all of that into a business that is truly rooted locally, we needed a leader who both understands Longbridge’s global vision and is deeply familiar with Singapore’s local landscape.”

— Nowa Zhu, Group CEO, Longbridge

Longbridge’s Growing Footprint in Singapore

Gavin’s appointment is the latest milestone in a series of concrete moves Longbridge has made in Singapore over the past six months:

Licensed operations: Long Bridge Securities Pte. Ltd. holds a Capital Markets Services licence (CMS Licence No. CMS101211) issued by the Monetary Authority of Singapore (MAS), and operates as an Exempt Financial Adviser.Physical presence: On 30 April 2026, Longbridge announced the launch of Longbridge Cafe Singapore — located above Guoco Tower / Tanjong Pagar MRT station and expected to open in September 2026. It will be Longbridge’s first physical overseas location.Local leadership: On 5 May 2026, Gavin Chia joined as Regional CEO, Southeast Asia.

Taken together, Longbridge has established what observers are calling a complete “localization loop” in Singapore: a licensed entity, a physical space, and a local leader with the mandate and experience to execute. This combination remains uncommon among digital brokerages operating in the market.

About Longbridge Securities Singapore

Longbridge Securities is an AI-Powered online brokerage headquartered in Singapore. By building global trading infrastructure and a trading network, it delivers best-in-class trading experiences to investors worldwide. Founded in March 2019, Longbridge holds 22 financial regulatory licenses or qualifications across the U.S., Hong Kong SAR, Singapore, and other markets, and has secured more than US$150 million in strategic investment from leading financial institutions and investment firms. Long Bridge Securities Pte. Ltd. is a licensed entity regulated by the Monetary Authority of Singapore (MAS) (Capital Markets Services Licence No.: CMS101211), holding a Capital Markets Services Licence and operating under an exempt financial adviser status.

Disclaimer

Long Bridge Securities Pte. Ltd. (Co. Reg. No. 202111825D) provides an execution-only service. All investments carry risk. Please refer to the Risk Disclosure Statement on our website for details. This advertisement has not been reviewed by the Monetary Authority of Singapore.

This commitment to innovation extends beyond AI — Longbridge made history in 2025 by launching the world’s first U.S. stock options pre-market trading, a milestone that underscores its position at the frontier of brokerage technology.

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SOURCE Longbridge

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Mobupps Unveils ECHO AI – A Self-Learning Mechanism

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ASHDOD, Israel , May 11, 2026 /PRNewswire/ — Mobupps, a leading global adtech company, today announced the launch of ECHO AI, its next-generation self-learning mechanism designed to bring real-time intelligence to every stage of the advertising process. ECHO AI interprets signals, identifies value, and adapts dynamically to deliver more efficient outcomes with minimal manual input.

Leveraging continuous learning from live campaign data, ECHO AI automatically identifies the most effective channels, audiences, and creatives, enabling advertisers to achieve stronger user lifetime value and lower acquisition costs from day one.

ECHO AI delivers a powerful suite of intelligent capabilities designed to transform campaign performance. Using advanced audience segmentation based on proprietary behavioral data, ECHO AI ensures precise targeting and meaningful user engagement.

The system provides automated recommendations for continuous campaign optimization, enabling advertisers to achieve greater efficiency and a smarter use of their budgets. Purpose-built to acquire high-value users and maximize their long-term revenue potential, ECHO AI empowers brands to scale sustainably and effectively.

Fully integrated with MAFO, ECHO AI operates within a unified ecosystem, delivering seamless automation, accuracy, and performance across all marketing channels.

Yaron Tomchin, Chief Executive Officer at Mobupps, commented: “ECHO AI represents a major leap forward in our mission to empower the Mobupps team with true data intelligence. By embedding self-learning capabilities into our ecosystem, we are enabling marketers to make smarter, faster, and more efficient decisions across every campaign touchpoint.”

Rashid Galimov, Chief Technology Officer at Mobupps, added: “Our engineering vision behind ECHO AI was to create an adaptive framework that constantly evolves. Every impression, click, and conversion becomes a learning input — fueling optimization loops that deliver measurable results at scale.”

ECHO AI is the future of automated performance, built for marketers who need speed, precision, and data-driven growth. Connect Mobupps to see how ECHO AI can transform your next campaign here.

Source of the PR: Link 

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