Ankündigung • Aug 14
Michael Chorey to Join Presto as Co-Founder and President of Presto IQ Presto announced that Michael Chorey, the founder of Wendy’s FreshAi, has joined the company to build Presto IQ, the first AI-native dynamic data offering for the quick-service restaurant (QSR) industry. Michael Chorey: In this role, Chorey will work with Presto to grow its drive-thru Voice AI platform and lead the development of the new Presto IQ business unit. Chorey is widely recognized for pioneering AI experiences that are both operationally sound and emotionally intelligent. Presto IQ will integrate dynamic data sources, enabling restaurants and other QSR industry members to personalize their offerings to serve the needs of customers, crew, and operators in real time. Chorey’s move marks a defining moment in the industry’s shift toward a responsive platform like Presto that earns trust by honoring industry context, not just automating transactions. Ankündigung • Sep 20
Presto Automation Files Form 15 Presto Automation Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.0001 per share. Ankündigung • Sep 06
The Nasdaq Stock Market to Delist Common Stock of Presto Automation The Nasdaq Stock Market announced that it will delist the common stock and warrants of Presto Automation Inc. The company's securities were suspended on August 8, 2024, and have not traded on Nasdaq since that time. Ankündigung • Aug 13
Presto Automation Inc. announced that it expects to receive $0.65 million in funding from REMUS Capital Presto Automation Inc. announced a private placement for issuance of subordinated convertible note in the principal amount of $650,000, for gross proceeds of $650,000 on August 12, 2024. The transaction included participation from returning investor Remus Capital Series B II, L.P., a fund managed by REMUS Capital, an entity affiliated with Krishna Gupta, a member of our Board of Directors. The note is convertible at a conversion price of $0.00672 per share. Ankündigung • Aug 09
Presto Automation Inc.(OTCPK:PRST) dropped from NASDAQ Composite Index Ventoux CCM Acquisition Corp has been dropped from NASDAQ Composite Index. Ankündigung • Aug 07
Presto Automation Inc. Receives Non-Compliance Letter from Nasdaq As previously disclosed, on February 6, 2024, Presto Automation Inc. (the Company") received a notice (the Notice") from the Listing Qualifications Department (the Staff") of The Nasdaq Stock Market LLC (Nasdaq") stating that the Company was not in compliance with the requirement to maintain a minimum Market Value of Listed Securities (MVLS") of $50 million, as set in Nasdaq Listing Rule 5450(b)(2)(A) (the MVLS Requirement"), because the MVLS of the Company was below $50 million for the 30 consecutive business days prior to the date of the Notice. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company was provided 180 calendar days from the date of the Notice, or until August 5, 2024, to regain compliance with the MVLS Requirement. On August 6, 2024, the Company received a Staff determination letter from Nasdaq informing the Company that the Company had not regained compliance with the MVLS Requirement and this matter serves as an additional basis for delisting the Company's securities from Nasdaq. As previously disclosed, the Company had already received a separate Staff determination letter from Nasdaq informing the Company that the Company had not regained compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set in Nasdaq Listing Rule 5450(a)(1). The Company had previously disclosed that it intended to request a hearing before a Nasdaq Hearings Panel. The Company requested such a hearing on July 5, 2024, but on August 6, 2024, the Company informed Nasdaq that it was withdrawing its appeal. As a result of the Company withdrawing its appeal, on August 6, 2024, the Company received a letter from Nasdaq informing the Company that its shares of common stock, par value $0.0001 per share (the Common Stock"), and warrants will be suspended at the open of business on August 8, 2024 and that Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission (the SEC"), which will remove the Company's securities from listing and registration on Nasdaq. The Company expects that the trading of its common stock will transition to the OTC Bulletin Board or pink
sheets" market shortly. The transition to over-the-counter markets is not expected to affect the Company's operations or business and does not change its reporting requirements under SEC rules. The Company cannot predict what the impact of the transition will be on the liquidity in its Common Stock. Ankündigung • Jul 26
Presto Automation Inc. has filed a Follow-on Equity Offering in the amount of $25 million. Presto Automation Inc. has filed a Follow-on Equity Offering in the amount of $25 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 348,675,035
Price\Range: $0.0717 Ankündigung • Jul 04
Presto Automation Receives Staff Determination Letter from Nasdaq Due to its Not Regains Compliance with the Bid Price Requirement As previously disclosed, on December 28, 2023, Presto Automation Inc. (the ‘Company’) received a notice (the ‘Notice’) from the Listing Qualifications Department (the ‘Staff’) of The Nasdaq Stock Market LLC (‘Nasdaq’) stating that the Company was not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5450(a)(1) (the ‘Bid Price Requirement’), because the closing bid price of the Company’s common stock, par value $0.0001 per share (the ‘Common Stock’), was below $1.00 per share for 30 consecutive business days. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days from the date of the Notice, or until June 25, 2024, to regain compliance with the Bid Price Requirement. On June 27, 2024, the Company received a Staff determination letter (the ‘Staff Determination Letter’) from Nasdaq informing the Company that the Company had not regained compliance with the Bid Price Requirement. The Staff Determination Letter noted that unless the Company requests an appeal of the Staff’s determination by July 5, 2024, the Company’s Common Stock and warrants will be scheduled for delisting at the opening of business on July 9, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market. The Company intends to request a hearing before a Nasdaq Hearings Panel (the ‘Panel’) on or before July 5, 2024, which will stay any further delisting action by the Staff pending the ultimate outcome of the hearing. There can be no assurance the Panel will grant any request for continued listing or that the Company will be able to regain compliance with the applicable listing criteria within the period of time that may be granted by the Panel. The Company’s Common Stock and warrants will remain listed and eligible for trading on the Nasdaq Global Market at least pending the ultimate conclusion of the hearing process. Previously, on June 14, 2024, the Company’s board of directors (the ‘Board’) approved a proposal to effect a reverse split of the Company's Common Stock in a range between 1-25 and 1-100, subject to approval by the Company’s stockholders at Special Meeting scheduled for July 16, 2024. Assuming stockholder approval, the Board intends to effect a reverse stock split as soon as practical thereafter with the goal of regaining compliance with the Bid Price Requirement. Further, as previously disclosed, the Company is subject to two other deficiency notices from Nasdaq relating to (i) the requirement to maintain a minimum Market Value of Publicly Held Securities of $15 million and (ii) the requirement to maintain a minimum Market Value of Listed Securities of $50 million. These deficiencies may become an additional basis for delisting, and as such, the Company intends to address these concerns before the Panel. Ankündigung • May 29
Presto Automation Inc. has filed a Follow-on Equity Offering in the amount of $0.75 million. Presto Automation Inc. has filed a Follow-on Equity Offering in the amount of $0.75 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 5,000,000
Price\Range: $0.15
Transaction Features: Registered Direct Offering Ankündigung • May 24
Presto Automation Inc. has completed a Follow-on Equity Offering in the amount of $1.524999 million. Presto Automation Inc. has completed a Follow-on Equity Offering in the amount of $1.524999 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 10,892,851
Price\Range: $0.14
Discount Per Security: $0
Transaction Features: Registered Direct Offering Ankündigung • May 22
Presto Automation Inc. announced that it has received $3 million in funding from REMUS Capital Presto Automation Inc. announced a private placement of common shares for the gross proceeds of $3 million on May 20, 2024. The transaction included participation from returning investor, Remus Capital. Ankündigung • May 18
Presto Automation Inc. announced delayed 10-Q filing On 05/16/2024, Presto Automation Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • May 16
Presto Automation Inc. to Report Q3, 2024 Results on May 20, 2024 Presto Automation Inc. announced that they will report Q3, 2024 results After-Market on May 20, 2024 Board Change • May 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Director Krishna Gupta is the most experienced director on the board, commencing their role in 2017. Independent Non-Executive Director Gail Zauder was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Ankündigung • May 09
Presto Introduces Presto Voice™ with Pure AI for Enhanced Automated Drive-Thru Ordering Presto Automation Inc. announced the launch of Presto Voice with Pure AI, a transformative feature that delivers enhanced Voice AI order taking for restaurants. Presto Voice with Pure AI introduces a compelling new version of Voice AI technology for restaurant operators that streamlines their operations and enhances the customer experience. The new technology is autonomous, without humans-in-the-loop (HITL) who could intervene early in the order process before the AI has a chance to complete the order. The Pure AI feature enables a smooth transition to the restaurant team member only when the AI determines that it is unable to process an order. Presto believes that the new Pure AI feature will allow the Voice AI system to improve more quickly while still providing the efficiency and level of accuracy its Voice AI is known for. Presto believes its Pure AI feature offers several key benefits for both operators and consumers: Decreased Delays and Improved Speed of Service: Fewer steps in the order-handling process will lead to fewer delays, resulting in a faster and more seamless ordering experience. Reduced Guest Frustration: With a direct escalation path to restaurant staff, customers are expected to experience fewer issues when the AI is unable to fulfill an order. Decreased Need for Staff Intervention: Presto Voice with Pure AI reduces the need for store staff to intervene at the outset of an order, allowing them to focus on other tasks. Accelerated AI Training: By enabling more complete AI sessions, Presto Voice with Pure AI is expected to improve at a faster pace, leading to a more consistent ordering experience for both store staff and customers. Presto is in the process of conducting a live test of Presto Voice with Pure AI, and once successful, Presto plans to expand the new Voice AI technology at a shorter ramp-up period, with a number of customer locations that have already agreed. Ankündigung • Mar 23
Presto Automation Inc. announced that it expects to receive $4 million in funding Presto Automation Inc. announced that it entered into participation agreement, subordination agreement with returning lender Presto CA LLC for gross proceeds of $4,000,000 on March 21, 2024. The company will issue senior secured non-convertible promissory note in the principal amount of $4,000,000. The company will raise the amount in two tranches. The first tranche is made on March 21, 2024, with the amount of $2,000,000. The second tranche will be made on March 30, 2024, with the amount of $2,000,000. The second tranche is subject to the following conditions. The notes shall be repaid no later than May 15, 2024. Interest on the note accrues by increasing principal at a rate of 12.0% per annum. On the maturity date, company will pay the interest then due by adding such outstanding interest to the aggregate principal amount of the note. The note is secured by a first priority lien on substantially all of the company’s assets, pursuant to that certain security agreement, dated as of March 21, 2024, by and between the company, Presto Automation LLC, a wholly owned subsidiary of the company, and Presto CA. Ankündigung • Mar 19
Presto Automation Inc. has completed a Follow-on Equity Offering in the amount of $1.2 million. Presto Automation Inc. has completed a Follow-on Equity Offering in the amount of $1.2 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,800,000
Price\Range: $0.25
Discount Per Security: $0.015
Transaction Features: Registered Direct Offering Ankündigung • Mar 15
Presto Automation Inc. has filed a Follow-on Equity Offering in the amount of $1.2 million. Presto Automation Inc. has filed a Follow-on Equity Offering in the amount of $1.2 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,800,000
Price\Range: $0.25
Transaction Features: Registered Direct Offering Ankündigung • Mar 02
Presto Automation Inc. to Report Q2, 2024 Results on Mar 05, 2024 Presto Automation Inc. announced that they will report Q2, 2024 results on Mar 05, 2024 Ankündigung • Feb 16
Presto Automation Inc. announced delayed 10-Q filing On 02/15/2024, Presto Automation Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • Feb 15
Presto Automation Wins Final Appeal in Case Against XAC Presto Automation Inc. has on February 8, 2024 received a court order representing the favorable verdict received from the Singapore Court of Appeal in the final hearing of its case against XAC Automation Corp. on January 16, 2024. The favorable verdict dismissed XAC’s appeal and upheld the award of $11.1 million previously made to the Company adding an additional SGD 50,000 (approximately $32,000) award for costs associated with the appeal. XAC has no further recourse to set aside the award. Domesticating the award in Taiwan may take between several months to more than a year, but the Company is currently exploring alternatives to enforce or monetize the award in a shorter timeline. Price Target Changed • Feb 15
Price target decreased by 21% to US$0.96 Down from US$1.21, the current price target is an average from 3 analysts. New target price is 381% above last closing price of US$0.20. Stock is down 95% over the past year. The company is forecast to post a net loss per share of US$0.35 next year compared to a net loss per share of US$0.74 last year. Board Change • Feb 15
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. No highly experienced directors. Chairman Krishna Gupta is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • Feb 15
Presto Automation Announces the Resignation of Xavier Casanova as Chief Executive Officer Presto Automation Inc. announced that its Chief Executive Officer, Xavier Casanova, has resigned effective immediately, and the Company wishes him well. The Company will be announcing a replacement in the near future. Ankündigung • Feb 09
Presto Automation Inc. Receives Non-Compliance Letter from Nasdaq Regarding MVLS On February 6, 2024, Presto Automation Inc. (the Company") received a notice (the Notice") from The Nasdaq Stock Market LLC (Nasdaq") stating that the Company is not in compliance with the requirement to maintain aminimum Market Value of Listed Securities (MVLS") of $50 million, as set forth in Nasdaq Listing Rule 5450(b)(2)(A) (the MVLS Requirement"), because the MVLS of the Company was below $50 million for the 30 consecutive business days prior to the date of the Notice. Nasdaq further indicated that, as of the date of the Notice, the Company did not comply with certain requirements under the alternative standards set forth in Nasdaq Listing Rule 5450(b)(3)(A) for continued listing on the Nasdaq Global Market. The Notice is in addition to the previously disclosed letter received on December 28, 2023, notifying the Company that it was not in compliance with the requirement to maintain a minimum bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5450(a)(1). The Notice does not impact the listing of the Common Stock on The Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has a period of 180 calendar days from the date of the Notice, or until August 5, 2024, to regain compliance with the MVLS Requirement. During this period, the Common Stock will continue to trade on The Nasdaq Global Market. If at any time before August 5, 2024 the MVLS closes at $50 million or more for a minimum of ten consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the MVLS Requirement and the matter will be closed. In the event the Company does not regain compliance by August 5, 2024, the Company will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel. The Notice provides that the Company may be eligible to transfer the listing of its securities to The Nasdaq Capital Market (provided that it then satisfies the requirements for continued listing on that market). The Company intends to actively monitor its MVLS and will evaluate available options to regain compliance with the MVLS Requirement. However, there can be no assurance that the Company will be able to regain compliance with the MVLS Requirement or maintain compliance with any of the other Nasdaq continued listing requirements. Ankündigung • Feb 02
Presto Automation Inc. Appoints Matthew Macdonald to the Board Presto Automation Inc. announced on January 28, 2024, the board of directors (the “Board”) of the company increased the number of directors that constitute the entire Board from seven directors to eight directors and appointed Matthew MacDonald to the Board. Mr. MacDonald will serve as a Class II directors with a term expiring at the Company’s 2024 annual meeting of stockholders. Matthew MacDonald, 39, is a Managing Director of Erithmitic Inc, a commercial real estate bridge lending platform which he joined in June 2022. Matt is also the founder of Cottage Avenue, a hospitality-focused investment company and a partner in Great Canadian Heli-Skiing. Matt was a founder of Ventoux Acquisition Holdings, the co-sponsor of Ventoux CCM Acquisition Corporation, the special purpose acquisition company that merged with Presto. Prior to co-founding Ventoux in August 2020, Mr. MacDonald worked at Hyatt Hotels Corporation as the Vice President of Capital Strategy and Wellness Development, where he focused on acquiring hospitality companies and brands. Mr. MacDonald joined Hyatt in January 2017 as a result of Hyatt’s acquisition of Miraval Group, a leading hospitality wellness company. Mr. MacDonald joined Miraval Group, a KSL Capital portfolio company, as Vice President of Development in May 2016 following four years at Starwood Hotels and Resorts. Mr. MacDonald is a graduate of the University of Denver and received a Master in Real Estate Finance from New York University. Ankündigung • Jan 06
Presto Automation Receives Non-Compliance Notice from Nasdaq On December 28, 2023, Presto Automation Inc. (the “Company”) received a notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set in Nasdaq Listing Rule 5450(a)(1) (the “Bid Price Requirement”), because the closing bid price of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), was below $1.00 per share for 30 consecutive business days. The Notice does not impact the listing of the Common Stock on The Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of the Notice, or until June 25, 2024, to regain compliance with the Bid Price Requirement. During this period, the Common Stock will continue to trade on The Nasdaq Global Market. If at any time before June 25, 2024 the bid price of the Common Stock closes at or above $1.00 per share for a minimum of ten consecutive trading days, Nasdaq will provide written notification that the Company has achieved compliance with the Bid Price Requirement and the matter will be closed. In the event the Company does not regain compliance by June 25, 2024, the Company may be eligible for an additional 180 calendar day period to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the Bid Price Requirement, and transfer its listing to the Nasdaq Capital Market. The Company would also be required to provide written notice to Nasdaq of its intent to cure the deficiency during this second compliance period by effecting a reverse stock split, if necessary. If it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible or determines not to submit a transfer application or make the required representation, Nasdaq would provide notice to the Company that its Common Stock would be subject to delisting. At that time, the Company may appeal the Nasdaq staff’s delisting determination to a Nasdaq Hearings Panel (the “Panel”). The Company expects that its Common Stock would remain listed pending the Panel’s decision. In such event, there can be no assurance that such an appeal would be successful. The Company intends to actively monitor the closing bid price of its Common Stock and will evaluate available options to regain compliance with the Bid Price Requirement. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement or maintain compliance with any of the other Nasdaq continued listing requirements. Ankündigung • Dec 23
Presto Automation Inc. Announces Resignation of Mr. Scott Raskin from the Board of Directors On December 21, 2023, Mr. Scott Raskin resigned from the Board of Directors of Presto Automation Inc., effective immediately. Ankündigung • Dec 15
Presto Automation Inc. Announces Chief Financial Officer Changes On December 13, 2023, Nathan Cook submitted his resignation as Interim Chief Financial Officer of Presto Automation Inc. Company effective immediately. Mr. Cook was engaged as Interim Chief Financial Officer pursuant to an agreement with Teneo Capital LLC that required the Company to pay a monthly fee of $90,000. On December 14, 2023, the Board of Directors of Presto appointed Stanley Mbugua to serve as Interim Chief Financial Officer, effective immediately. Mr. Mbugua has served as Chief Accounting Officer of the Company since March 2023, a role in which he will remain while serving as Interim Chief Financial Officer, and as the Interim Chief Financial Officer from August 2023 to October 2023. From September 2021 to March 2023, Mr. Mbugua served as Chief Accounting Officer at Skillz Inc., a mobile eSports platform, a position he held since 2021. Mr. Mbugua served as Group Vice President and Chief Accounting Officer of Rimini Street, a software company delivering third-party enterprise software support for Oracle, SAP, JD Edwards, PeopleSoft, Siebel, and other applications, from 2017 to 2021. From 2015 to 2017, Mr. Mbugua served as Senior Director and Corporate Controller at Lattice Semiconductor Corp., a manufacturer of high-performance programmable logic devices. Mr. Mbugua is a Certified Public Accountant and has a Bachelor’s degree from the University of Nairobi. Ankündigung • Dec 01
Presto Automation Inc. Names Kat Hoffman Flynt as Chief Operating Officer Presto Automation appointed Kat Hoffman-Flynt as Chief Operating Officer, effective immediately. Ms. Hoffman-Flynt brings more than 20 years of experience as an operational strategist, building strong customer relationships and scaling new deployments throughout her career. As Chief Operating Officer, she will be responsible for overseeing Prestos operations, while working to ensure the company achieves its goals and delivers excellence to Prestos customers. Ms. Hoffman-Flynt joined Presto in 2019 as Senior Director of Strategic Projects, where she helped develop multiple operational strategies that ensured customers needs were satisfied. Prior to joining Presto, Ms. Hoffman-Flynt held executive positions at Gordon Biersch Brewery Restaurants and CraftWorks Restaurants &Breweries Inc., where she advised each company through times of organizational change, creating and managing corporate project portfolios. Ankündigung • Nov 21
Presto Automation Inc. Provides Revenue Guidance for the Second Quarter of 2024 Presto Automation Inc. provided revenue guidance for the second quarter of 2024. The company expected total revenue for the fiscal second quarter of 2024 to be in the range of $4.8 million to $5.0 million. Ankündigung • Nov 18
Presto Automation Inc. has filed a Follow-on Equity Offering. Presto Automation Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: Registered Direct Offering Ankündigung • Nov 17
Presto Automation Inc. announced delayed 10-Q filing On 11/15/2023, Presto Automation Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • Nov 14
Presto Automation Inc. to Report Q1, 2024 Results on Nov 20, 2023 Presto Automation Inc. announced that they will report Q1, 2024 results After-Market on Nov 20, 2023 Ankündigung • Oct 23
Presto Automation Inc. Announces Resignation of Dan Mosher as President Presto Automation Inc. announced that Dan Mosher resigned as President. Mr. Mosher informed the Company that he would remain with the Company through a transition period to be agreed. Mr. Mosher served as President of the Company since March 2023 and previously served as Chief Revenue Officer of the Company from March 2021 to March 2023. Ankündigung • Oct 21
Presto Automation Inc. Announces Executive Changes Presto Automation Inc. promoted Justin Foster to Chief Revenue Officer, effective immediately. Mr. Foster brings 15 years of experience leading go-to-market efforts at emerging high-growth technology companies. As Chief Revenue Officer, Mr. Foster will be responsible for all facets of the company’s revenue generation, including growing Presto’s footprint in the emerging voice AI market while retaining signed clients. Before joining Presto as SVP of Sales in 2022, Mr. Foster led all go-to-market activities for Liveclicker, a company he co-founded in 2008 and sold to CM Group, now Marigold, in 2018. Liveclicker was focused on the marketing personalization space. Prior to Liveclicker, Justin started and led the services practice at WhatCounts, a technology company focused on customer communications. WhatCounts was sold to Mansell Group in 2010. After nearly three years at Presto serving as both President and Chief Revenue Officer, Dan Mosher is leaving the company. Ankündigung • Oct 12
Presto Automation Inc. announced that it expects to receive $3 million in funding from Cleveland Avenue Advisers, LLC Presto Automation Inc. announced a private placement of 1,500,000 common shares at a price of $2 per share for the gross proceeds of $3 million on October 10, 2023. The transaction will include participation from returning investor Cleveland Avenue Advisers, LLC. The transaction is expected to close on or around October 16, 2023, subject to customary closing conditions. Ankündigung • Oct 05
Presto Automation Inc. to Report Q4, 2023 Results on Oct 10, 2023 Presto Automation Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Oct 10, 2023 Ankündigung • Oct 01
Presto Automation Inc. announced delayed annual 10-K filing On 09/29/2023, Presto Automation Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. New Risk • Oct 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$81.2m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-US$22m). Earnings are forecast to decline by an average of 46% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$48m net loss in 2 years). Significant insider selling over the past 3 months (US$142k sold). Market cap is less than US$100m (US$81.2m market cap). Ankündigung • Sep 03
Presto Automation Inc., Annual General Meeting, Dec 06, 2023 Presto Automation Inc., Annual General Meeting, Dec 06, 2023. Agenda: To elect the Company’s Class I Director nominees (Krishna K. Gupta, Keith Kravcik and Edward Scheetz).