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Shareholder Letter from Lior Tal, CEO at Cyngn Inc.

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MENLO PARK, Calif., May 31, 2024 /PRNewswire/ — Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN) issued a letter from the CEO —

Dear Cyngn Shareholders:

As most of you are aware, our annual shareholder meeting is scheduled for June 25, 2024 and proxy materials containing several critical matters requiring shareholder approval have been distributed. The matter I wanted to talk to you about today is granting discretionary authority to our Board of Directors to affect a reverse stock split.

We consider the reverse stock split a last measure to regain compliance with Nasdaq’s $1 minimum bid price requirement before the late August deadline. We have postponed this as long as possible but now we need to act, and so we’re asking for you to allow us to do that.

While achieving the minimum bid price requirement organically is preferred, despite our best efforts, achievement of many commercial milestones and significant progress in 2024, to date, we have not been able to achieve this. Therefore, my recommendation to the Board of Directors and to you, the shareholders of Cyngn, is that we enable the option of the reverse stock split as a potential remedy for regaining the minimum bid compliance before the deadline.

Voting to authorize this option is of vital importance. My responsibility as CEO is to do what is in the best interest of the company’s stakeholders, including its shareholders, employees and customers. To survive and prosper, the company needs access to capital to fund operations until it is cash flow positive. Few sources of capital are willing to provide financing to the company if it is no longer on a major national exchange. Down-listing to an over-the-counter exchange where market making and trading volumes are significantly lower would put the company and its stakeholders at significant risk.

Also included for vote in the proxy is a proposal to amend our articles of incorporation to increase the number of shares of authorized common stock from 200,000,000 to 400,000,000. This will only be effected in the event that we regain compliance with the minimum bid price organically as we would need these additional authorized shares to further fund the company until it is cash flow positive.This increase will not be necessary if the company executes a reverse split, which will result in a reduction of the outstanding shares. This measure is not intended to be used in addition to the reverse split, but rather in the event one is not used.

Thanks for your support and understanding.

Sincerely,
Lior Tal

About Cyngn

Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn’s DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn’s flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Find Cyngn on:

Website: cyngn.comTwitter: twitter.com/cyngnLinkedIn: https://www.linkedin.com/company/cyngnYouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Don Alvarez, CFO
investors@cyngn.com
Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com

FORWARD-LOOKING STATEMENTS:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other 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. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the SEC, including, without limitation the risk factors discussed in the Company’s annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

 

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SOURCE Cyngn

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Shoplazza Launches the World’s First AI-Native Commerce Operating System with a Unified Suite of AI Agents

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TORONTO, April 20, 2026 /PRNewswire/ — Shoplazza, a leading global commerce platform, announced the launch of the world’s first AI native commerce operating system recently, along with a unified suite of AI agents designed to execute across the entire ecommerce lifecycle. The release marks a major step forward in the company’s evolution from a traditional software platform to an AI-driven commerce infrastructure built for global scale.

At the core of the system is Shoplazza AI Store Builder, an intelligent agent that fundamentally changes how online stores are created. Instead of configuring tools manually, merchants can now generate fully functional, ready to sell storefronts through simple natural language input. By interpreting product information, target markets, and customer profiles, the system automatically builds site architecture, generates localized content, and provides initial go to market recommendations. What once required weeks of setup can now be completed in minutes, with a complete store and launch ready foundation.

Shoplazza also introduced LazzaStudio, an AI powered visual creation agent that streamlines how merchants produce content at scale. From product imagery to marketing creatives and campaign visuals, LazzaStudio transforms traditionally complex production workflows into a prompt driven process. With built in brand learning capabilities, the system generates consistent, high quality assets tailored for global audiences, enabling merchants to deploy content seamlessly across storefronts and advertising channels while significantly reducing production time and cost.

To complete the growth loop, Shoplazza launched AdValet, an AI advertising agent that automates campaign execution end to end. AdValet translates product data and market signals into audience targeting, creative generation, media planning, and campaign deployment. During live campaigns, it continuously monitors performance and dynamically optimizes outcomes through real time feedback and model iteration. This shifts advertising from manual, experience based trial and error to a system of continuous, AI-driven performance optimization.

These agents operate together within Shoplazza’s AI-native commerce operating system, where merchant intent is translated directly into coordinated execution. By unifying store creation, content production, and marketing into a single system, Shoplazza replaces fragmented workflows with an integrated layer of automation that enables faster, more predictable growth.

Shoplazza currently supports more than 650,000 merchants worldwide. With its AI-native architecture, the platform brings together previously disconnected capabilities into a single intelligent system, delivering improvements in efficiency, scalability, and operational reliability for businesses operating in increasingly complex global markets.

Looking ahead, Shoplazza will introduce Athena very soon, an AI admin agent designed to extend automation into day to day business management. Covering areas such as product management, order processing, analytics, and content operations, Athena allows merchants to interact with the system conversationally while orchestrating multiple agents in the background. This will complete a fully connected agent ecosystem spanning store creation, creative production, marketing execution, and ongoing operations.

“Commerce has reached a point where adding more tools no longer solves the problem,” said Jeff Li, Founder and CEO of Shoplazza. “What merchants need is a system that can understand intent and execute across the entire business. That is what we are building with our AI native commerce operating system. It is not just about making things easier. It is about making outcomes more predictable, scalable, and aligned with how modern commerce actually operates.”

About Shoplazza

Shoplazza is a global AI-native commerce operating system that enables brands to build, launch, and scale their online businesses. Built on an AI agent-native framework, Shoplazza integrates storefronts, marketing, payments, and operational workflows into a unified system designed to support scalable, long-term growth across global markets. Learn more at https://www.shoplazza.com/.

 

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SOURCE Shoplazza

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Pricer and JRTech Solutions sign 51 MUSD digital store transformation deal with Sobeys in Canada

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MONTREAL, April 20, 2026 /PRNewswire/ – Pricer AB, a global leader in digital shelf-edge solutions, announces that its Canadian partner JRTech Solutions has signed a major agreement with Sobeys, one of Canada’s leading supermarket chains. The contract includes the deployment of Pricer’s latest electronic shelf label (ESL) technology and the cloud-based platform Pricer Plaza across an estimated 300–350 stores.

The agreement covers the supply of multicolor electronic shelf labels and the necessary store infrastructure, with a total hardware and infrastructure value of approximately 51 MUSD (excluding Pricer Plaza). The deployment is scheduled for an 18-month period starting in May 2026.

“We are very grateful for the trust and that Sobeys has once again chosen Pricer as its long-term strategic partner,” says Mats Arnehall, Chief Growth Officer at Pricer. “This deal confirms our leading position in the North American market and the value of our high-performance system in high-density retail environments. Our scalable cloud platform, Pricer Plaza, will be the intelligence behind every label, enabling Sobeys to act faster and work smarter.”

“After years of close collaboration and shared success, we’re proud to grow our partnership with Sobeys even further with an expanded rollout,” says Diego Mazzone, President and CEO of JRTech Solutions. “That momentum is driven by our ability to consistently deliver reliable, high-quality solutions in complex retail environments. Together, we are positioning our digital smart labels at the heart of a broader digital transformation, driving operational excellence, unlocking real-time intelligence, and creating meaningful value for both Sobeys and their customers.”

Orders will be included in Pricer’s order intake as they are received.

About JRTech Solutions
JRTech Solutions Inc. is the leading North American turnkey Electronic Shelf Label (ESL) provider and the largest worldwide distributor of Pricer ESLs, involved in over 2,000 store installations since 2008. JRTech Solutions is the exclusive Canadian provider of AI-powered inventory scanning robotics powered by Brain Corp for automated inventory management.
For further information: www.jrtechsolutions.com

About Pricer
Pricer is a pioneer and partner for in-store communication and digitalization in the rapidly evolving retail tech landscape. As a global technology leader, we empower leading retailers worldwide to shape effortless and inspiring shopping experiences that fundamentally change buying behaviors, boost sales, and drive operational efficiency. Leveraging cutting-edge innovation, we deliver scalable, high-performing solutions that easily integrate with existing systems, are energy-efficient, and user-friendly. Founded in Sweden in 1991 and listed on Nasdaq Stockholm, Pricer has delivered over 380 million electronic shelf labels in more than 28,000 stores across more than 80 countries.
For further information, please visit www.pricer.com

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SOURCE JRTECH SOLUTIONS INC.

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Mitate Zepto Technica Joins JST’s Next-generation Edge AI Semiconductor R&D Program as Social Implementation Partner

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– MZT to Lead Product Commercialization through Its Genome-analysis Accelerator “RASEN” –

TOKYO, April 20, 2026 /PRNewswire/ — Mitate Zepto Technica, Inc. (hereinafter “MZT”), based in Tokyo’s Shibuya district, announced on April 20 that it has joined the national research initiative “Next-Generation Edge AI Semiconductor Research and Development Program” promoted by the Japan Science and Technology Agency (JST). MZT participates as a designated social implementation and commercialization partner for the research theme “Accelerating Edge Intelligence for AI for Science” (Principal Investigator: Makoto Taiji, Program Director, TRIP Headquarters, RIKEN).

Logo: https://kyodonewsprwire.jp/img/202604167540-O1-5Sz6I68Q 

This research theme aims to achieve advanced computational infrastructure through the integration of AI technology and next-generation edge semiconductors, with genome analysis as one of its key application domains. MZT participates as an organization responsible for the productization and social implementation of research outcomes through its proprietary genome-analysis accelerator “RASEN.”

Background

Since its founding in 2020, MZT has pursued a distinctive approach to genome analysis: purpose-built ASIC acceleration. Following technology validation through joint research with Tohoku University and other partners, MZT now participates as an R&D institution responsible for social implementation under this research theme.

MZT’s Role in the Program

Within this research theme, MZT will integrate AI research outcomes from RIKEN and Tohoku University into the RASEN architecture, and lead the R&D work toward social implementation through ASIC development and productization. As the industrial partner bridging research and real-world deployment, the company targets social implementation by 2029.

Program Overview

Research theme: Accelerating edge intelligence for AI for science
Promoting agency: Japan Science and Technology Agency (JST)
Principal investigator: Makoto Taiji, Program Director, TRIP Headquarters, RIKEN
Participating institutions: RIKEN, Tohoku University, Keio University, Mitate Zepto Technica
MZT’s participation start: April 2026 (FY2026)
JST program period: FY2025 onwards

Comment from Keisuke Harashima, President & CEO, Mitate Zepto Technica:
“It is a tremendous honor that we can lead the social implementation of this research theme through the acceleration of genome analysis via dedicated semiconductors — a challenge we have pursued since MZT’s founding. RASEN is at exactly the right inflection point, transitioning from research to real-world deployment. We will use this participation to accelerate commercialization across healthcare, drug discovery, and research infrastructure.”

About RASEN

RASEN is MZT’s proprietary genome-analysis accelerator under development, built on a purpose-designed ASIC architecture. In internal validation, RASEN has demonstrated the ability to complete whole-genome sequencing (WGS) analysis in approximately 5 minutes on a standard workstation — without the need for supercomputers or high-performance computing infrastructure. In independent validation studies conducted with Tohoku University, RASEN achieved 99.8% concordance with conventional analysis methods across 12 samples, confirming that its speed advantage does not come at the cost of accuracy.

About Mitate Zepto Technica

Mitate Zepto Technica is a Japanese deep-tech startup developing purpose-built semiconductor solutions for genome analysis. By harnessing cutting-edge chip technology, MZT aims to deliver transformative speed improvements in genomic computation –contributing to the resolution of global challenges in healthcare, food security, and energy through its proprietary products.

Website: https://mitatezeptotechnica.com/en/company/ 

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SOURCE Mitate Zepto Technica, Inc.

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