공시 • Oct 04
Core Gaming, Inc completed the acquisition of Siyata Mobile Inc. (NasdaqCM:SYTA) in a reverse merger transaction. Core Gaming, Inc. signed a definitive merger agreement to acquire Siyata Mobile Inc. (NasdaqCM:SYTA) for $160 million in a reverse merger transaction on February 26, 2025. In exchange for the outstanding shares of Core Gaming, Siyata will issue common shares to the shareholders of Core Gaming based on an exchange ratio calculated as $160,000,000 divided by the volume-weighted average closing price of Siyata's common shares on the Nasdaq Stock Market LLC for the 10-day trading period immediately preceding the effective time of the merger. The combined public company will be led by Mr. Aitan Zacharin, the current CEO of Core Gaming. Marc Seelenfreund, the current CEO of Siyata, will step down as the public company CEO to serve as President and lead a newly formed Push-To-Talk subsidiary of Siyata. The Board of Directors of the combined public company will consist of Marc Seelenfreund and four directors designated by Core Gaming.
Following consummation of the Merger, the Siyata Mobile Shareholders will own approximately 10% of the outstanding Siyata Mobile Common Shares and the Core Gaming Shareholders will own approximately 90% of the outstanding Siyata Mobile Common Shares immediately following the effective time of the Merger.
The transaction is subject to regulatory approval, Core Gaming shareholder approval, listing of Siyata's shares on Nasdaq, the entry into certain ancillary agreements as of the closing and the satisfaction of customary closing conditions in the merger agreement. The Board of Directors of both Siyata and Core Gaming have unanimously approved the proposed transaction, which is expected to be completed in the second quarter of 2025.
The Board of Directors of Siyata received a fairness opinion from ValueScope, LLC., a Marshall & Stevens company. Victoria Baylin of Lucosky Brookman LLP acted as legal advisor to Core Gaming. Ross Carmel of Sichenzia Ross Ference Carmel LLP acted as legal advisor to Siyata. Computershare, Inc. is acting as transfer agent for Siyata shares.
Core Gaming, Inc completed the acquisition of Siyata Mobile Inc. (NasdaqCM:SYTA) in a reverse merger transaction on October 3, 2025. Upon completion of the transaction the combined company is named as Core AI Holdings, Inc and new symbol as CHAI. Aitan Zacharin will serve as CEO of Core AI
Holdings Marc Seelenfreund will serve as President of Siyata PTT Inc. Breakeven Date Change • Aug 27
No longer forecast to breakeven The analyst covering Siyata Mobile no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of US$13.0m in 2027. New forecast suggests the company will make a loss of US$17.4m in 2027. Reported Earnings • Aug 17
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: US$0.62 loss per share (improved from US$1,187 loss in 2Q 2024). Revenue: US$2.03m (up 7.6% from 2Q 2024). Net loss: US$3.81m (loss narrowed 71% from 2Q 2024). Revenue missed analyst estimates by 32%. Earnings per share (EPS) exceeded analyst estimates by 65%. Revenue is forecast to grow 45% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Communications industry in the US. 공시 • Aug 12
Siyata Mobile Inc. to Report Q2, 2025 Results on Aug 14, 2025 Siyata Mobile Inc. announced that they will report Q2, 2025 results After-Market on Aug 14, 2025 Reported Earnings • May 17
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: US$2.35 loss per share. Revenue: US$2.47m (up 4.7% from 1Q 2024). Net loss: US$3.79m (loss widened 36% from 1Q 2024). Revenue exceeded analyst estimates by 23%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Communications industry in the US. 공시 • May 12
Siyata Mobile Inc. Launches AI COMIC App Siyata Mobile Inc. announced that Core Gaming, a rising innovator in AI-driven creative technologies, who it recently signed definitive merger agreement with, successfully launched its AI COMIC App. The App utilizes a cutting-edge visual generation platform designed to revolutionize the way creators, gamers and marketers produce content. Core Gaming logo AI COMIC leverages advanced AI models to transform single photos or short video clips into high-quality visuals ranging from anime-style motion videos to hyper-realistic portraits within minutes. By bridging AI with real-world creative workflows, Core Gaming's AI COMIC is helping to define the future of visual storytelling. Aging Video Generator - Visualizes life progression from childhood to old age with AI-based transformation. To support high-performance generation at scale, Core Gaming has built a proprietary Compute Pool System, a dynamic, cloud-based infrastructure that intelligently distributes AI workloads in real time. This elastic system scales processing resources on demand, optimizing efficiency while keeping costs manageable. AI COMIC's impact on game development is equally transformative, offering tools that dramatically streamline asset creation: Automated Scene Design in both photo realistic and stylized formats. Instant Character Modeling with customizable expressions, costumes, and poses. AI-Powered Animation Sequences without the need for manual keyframing or motion capture. Fast Ad Creative Generation tailored for high-performance marketing campaigns. These innovations drastically reduce production time and labor costs, enabling game studios and creative teams to iterate faster and focus more on storytelling and gameplay innovation. Underpinning the platform is a powerful tech stack, including: Multimodal Generative Models that blend text, image, and motion into cohesive outputs. BigP Backend System, which precisely manages GPU loads and AI task orchestration. Real-Time Cloud Orchestration, ensuring optimal compute usage and seamless performance. 