garrox
5 hours ago
DECEMBER 17, 2024 8:03AM EST Download as PDF
Revenue Growth and Expected Operational Cost-Cutting and Efficiencies to Support Goal of Positive Cash Flow in Late 2025COCONUT GROVE, Fla., Dec. 17, 2024 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today announced that its Board of Directors has approved a share repurchase program authorizing the Company to repurchase up to $2,000,000 of the Company's outstanding shares of common stock.The timing, manner, price, and amount of any repurchases under the share repurchase program will be determined by the Company at its discretion. Purchases may be effected through open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or other means. The Company is not obligated to repurchase any specific number of shares and the program may be modified, suspended, or discontinued at any time.The Company recently announced that it expects to report record 2024 annual revenue in excess of $63 million representing growth of over 70% compared to fiscal 2023. Results are driven by continued growth in satellite connectivity products, increases in high margin recurring airtime revenue and contributions from the healthcare business."Over the past year, our team has made significant investments into the future of NextPlat, expanding our global e-Commerce and domestic healthcare businesses, positioning it to deliver continued double-digit revenue growth in 2025," said Charles M. Fernandez, Executive Chairman and CEO of NextPlat. "Expected growth and our focus on generating positive operating cashflows in 2025, supported by a strong balance sheet with a sizable cash position, provides confidence in the opportunities ahead of us and through this buyback program, we hope to capture the unrecognized intrinsic value present in our common stock."Purchases under this program may be funded from NextPlat's existing cash and cash equivalents and/or future cash flows.About NextPlat Corp
NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets including technology and healthcare. Through acquisitions, joint ventures and collaborations, the Company intends to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-Commerce presence and revenue. NextPlat currently operates an e-Commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care LLC.Forward-Looking Statements
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services, or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch new data-driven tools and services and its ability to grow and expand as intended, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obt
Bearslayer
4 days ago
NASDAQ ADOPTS ACCELERATED DELISTING RULES FOR COMPANIES TRADING BELOW US$1.00
5 DECEMBER 2024
On August 6, 2024, the Nasdaq Stock Market LLC (“Nasdaq”) filed with the Securities and Exchange Commission (the “SEC”) a proposed amendment to its rules to accelerate the delisting rules for companies trading below US$1.00 (the “Minimum Bid Price Requirement”) and restrict excessive reverse stock splits.¹ The SEC approved the proposal on October 7 2024, and the new rules are now in effect.
"Companies listed on Nasdaq whose stock price fluctuates around US$1.00 now face heightened requirements to regain compliance and maintain listing status."
Companies listed on Nasdaq whose stock price fluctuates around US$1.00 now face heightened requirements to regain compliance and maintain listing status. Two major changes arise from the new rules:
No Trading During Appeals Process: If a company trades below the Minimum Bid Price Requirement for 30 consecutive trading days, such company is in violation of the Minimum Bid Price Requirement. The company will then have two 180-days periods to regain compliance, where its securities may continue trading. If the company fails to regain compliance within these periods, the company’s shares will be delisted. This “determination of delisting” may then be appealed to the Nasdaq Listing Qualifications Hearings Panel. Prior to the amended rule, such securities would remain listed and trade on Nasdaq during the appeals process. The amended rule suspends securities from trading while appealing its “determination of delisting.” However, this does not apply to companies that were not afforded the second 180-day compliance period. In that circumstance, the company would not be suspended from trading on Nasdaq during an appeal; and
Immediate Delisting if Trading Below US$1.00 for 30 Consecutive Trading Days if Within One Year of Reverse Stock Split: If a company effects any reverse stock split, and within one year of that reverse stock split fails to comply with the Minimum Bid Price Requirement, that company will immediately be given a “Delisting Determination” with respect to the noncompliant security, regardless of the ratio. Such company will not be eligible for any compliance period.
For more information on the newly amended Nasdaq rule, please see our previous client alert, Nasdaq Proposes Accelerated Delisting Rules for Companies Trading Below US$1.00.
SilentWolf
5 days ago
They keep playing this increased revenue game with their headline revenue numbers, and it's disingenuous. NXPL didn't combine revenue numbers with RXMD during the first part of 2023.
With every subsequent revenue comparison with 2023, that percentage shrinks, because it becomes more of an apples to apple comparison. In 2025, they won't have that headline eye candy.
It just turns investors off, when companies use these deceptive PR tactics. Like you said, and I agree, they need to start turning a profit, and stop the OTC hype bullshit.