Cryptyde Inc. Announces 2023 Corporate Priorities
January 04 2023 - 7:30AM
Cryptyde, Inc. (NASDAQ: TYDE), a technology company that is focused
on driving growth and innovation through strategic acquisitions and
management of technology companies, has announced its corporate
priorities for the next 12 months. CEO Brian McFadden stated, “As
we enter 2023, we are excited to see our growth and are
particularly encouraged by the year-end performance of our newest
holding, Forever 8. We believe that by staying focused on driving
growth and innovation, we will be well-positioned to succeed in the
coming year and beyond.”
Cryptyde currently has two main wholly-owned
subsidiaries. Forever 8 is a cash flow management platform for
e-commerce sellers, and Ferguson Containers is a provider of
complete manufacturing and logistical solutions for product and
packaging needs. Cryptyde plans to drive growth and innovation
through the strategic expansion and management of these two main
subsidiaries.
Corporate priorities for Cryptyde in 2023, which
are aimed at bridging the gap Cryptyde believes exists between the
value of its business and its value as reflected in the equity
markets, include:
-
Identifying and prioritizing revenue-producing business
opportunities and expansions that would be expected to drive growth
and success. With a focus on cash flow management and EBIDTA, we
will carefully evaluate potential opportunities and select those
that align with our long-term objectives and provide the greatest
potential for success. This may involve expanding into new markets,
launching new products or services, or acquiring complementary
businesses.
-
Developing a strategy for efficiently acquiring capital for
long-term growth. This may involve seeking out partnerships,
seeking investments or utilizing debt financing. By increasing our
access to efficient capital, we will be better positioned to scale
our business, particularly Forever 8.
-
Launching new software as a service (SaaS) products and services
that drive revenue and profitability. By offering features from the
Forever 8 platform as a service, as well as leveraging our existing
infrastructure to launch new products and platforms, we believe we
can create significant value for our customers and grow our profit
margins.
-
Identifying and evaluating potential acquisition targets to help us
expand our existing business and launch new products and services.
We believe that strategic acquisitions can be a powerful tool for
driving growth and creating value and we are open to exploring
opportunities that align with our long-term objectives and provide
potential for success.
-
Continuously monitoring market conditions and refining our strategy
as needed to ensure that we remain competitive and well-positioned
for growth. We are committed to staying nimble and responsive to
new opportunities and challenges.
CEO Brian McFadden added, "Forever 8 has clearly
demonstrated its ability to generate revenue in a very short period
of time. We believe that positioned under our corporate guidance,
we have a model that can grow into a world class asset that offers
beneficial differentiators compared to its competitors."
About Cryptyde
Cryptyde, Inc. (Nasdaq: TYDE), a technology
company that is focused on driving growth and innovation through
strategic acquisitions and management of technology companies.
Cryptyde currently has two main wholly-owned subsidiaries: Forever
8, a cash flow management platform for e-commerce sellers, and
Ferguson Containers, a provider of complete manufacturing and
logistical solutions for product and packaging needs. For
additional information, please
visit http://www.cryptyde.com/.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements in this press release other than
statements of historical fact could be deemed forward looking.
Words such as “plans,” “expects,” “will,” “anticipates,”
“continue,” “expand,” “advance,” “develop” “believes,” “guidance,”
“target,” “may,” “remain,” “project,” “outlook,” “intend,”
“estimate,” “could,” “should,” and other words and terms of similar
meaning and expression are intended to identify forward-looking
statements, although not all forward-looking statements contain
such terms. Forward-looking statements are based on management’s
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors,
including, without limitation: the potential that the expected
benefits of Cryptyde’s acquisition of Forever 8 are not achieved;
Cryptyde’s inability to successfully achieve its 2023 corporate
priorities; achievement of the expected benefits of Cryptyde’s
spin-off from Vinco Ventures, Inc.; tax treatment of the spin-off;
market and other conditions; the risks that the ongoing COVID-19
pandemic may disrupt Cryptyde’s business more severely than it has
to date or more severely than anticipated; unexpected costs,
charges or expenses that reduce Cryptyde’s capital resources;
Cryptyde’s inability to raise adequate capital to fund its
business; Cryptyde’s inability to innovate and attract users for
Cryptyde’s products; future legislation and rulemaking negatively
impacting digital assets; and shifting public and governmental
positions on digital asset mining activity. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
such forward-looking statements. For a discussion of other risks
and uncertainties, and other important factors, any of which could
cause Cryptyde’s and Forever 8’s actual results to differ from
those contained in the forward-looking statements, see Cryptyde’s
filings with the Securities and Exchange Commission (SEC),
including the section titled “Risk Factors” in Cryptyde’s
Registration Statement on Form 10, as amended, filed with the SEC
on May 13, 2022, and Cryptyde’s Registration Statement on Form S-1,
as amended, filed with the SEC on November 14, 2022. All
information in this press release is as of the date of the release,
and Cryptyde undertakes no duty to update this information or to
publicly announce the results of any revisions to any of such
statements to reflect future events or developments, except as
required by law.
For further information, please contact:
Investor RelationsRichard
Brown617-819-1289investors@cryptyde.com
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