Announcement • May 09
DNA Holdings LLC entered into a definitive merger agreement to acquire remaining 65% stake in SRAX, Inc. (OTCPK:SRAX). DNA Holdings LLC entered into a definitive merger agreement to acquire remaining 65% stake in SRAX, Inc. (OTCPK:SRAX) on May 8, 2024. DNA has been a long term investor in SRAX and currently owns approximately 35% of the company. Upon closing, the shareholders of DNA will become the majority owners of SRAX’s outstanding common stock. Upon the completion of the merger, the public company plans to change its name to DNA Holdings Venture Inc and to request to change its ticker symbol, creating a public company which will allow investors to gain exposure to the most cutting edge Web3 technology projects. Christopher Miglino will act as the CEO of the combined entity. The boards of directors of SRAX and DNA have unanimously approved the proposed Transaction. The Transaction is subject to, among other things, the approval of both SRAX and DNA stockholders and satisfaction or waiver of the conditions stated in the Agreement. Announcement • Apr 04
SRAX, Inc. announced that it has received $0.075 million in funding On April 2, 2024, SRAX, Inc. closed the transaction. Announcement • Mar 07
SRAX, Inc. announced that it has received $0.075 million in funding SRAX, Inc. announced that it has entered into definitive securities purchase agreements with a certain accredited and institutional investor to issue an Original Issue Discount Convertible Debenture at a price of $75,000 in the principal amount of $90,000 for gross proceeds of $75,000 on March 5, 2024. The Debentures will mature on February 28, 2026 and bear no interest per annum. The Debentures are convertible at the option of the holder into shares of our Class A common stock at an initial conversion price of $0.25 per share, subject to adjustment. The debentures issued are exempt from registration under the Securities Act of 1933, as amended in reliance on the exemption provided by Rule 506(b) of Regulation D and Section 4(a)(2) of the Securities Act. Announcement • Jul 18
SRAX, Inc. Announces Resignation of Board Members On July 11 and July 13th, SRAX, Inc. announced that Marc Savas, Robert Jordan, Colleen DiClaudio and Brock Pierce resigned from the board of directors and their respective committee roles of SRAX. There were no disagreements between Marc Savas, Robert Jordan, Colleen DiClaudio and Brock Pierce and the Company. Their departure is not related to the operations, policies or practices of the Company, or any issues regarding accounting policies or practices. Brock Pierce will transition to the Advisory Board. Christopher Miglino shall remain as the Chairman of the Board and shall assume the Governance, Compensation and Audit Committee chairman roles. Announcement • Jul 10
Alan Urban Resigns as the Chief Financial Officer of SRAX, Inc On July 5, 2023 Alan Urban resigned as the Chief Financial Officer of SRAX and has transitioned from the Chief Financial Officer of the company to a consultant to help the company complete its SEC Filings. Mr. Urban is resigning to exclusively focus his efforts on the companies’ fillings, and there were no disagreements between Mr. Urban and the Company. His departure is not related to the operations, policies or practices of the Company, or any issues regarding accounting policies or practices. New Risk • Jun 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.90m This is considered a major 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 (48% average weekly change). Market cap is less than US$10m (US$9.90m market cap). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). Reported Earnings • Jan 03
First quarter 2022 earnings released: EPS: US$0.14 (vs US$0.57 loss in 1Q 2021) First quarter 2022 results: EPS: US$0.14 (up from US$0.57 loss in 1Q 2021). Revenue: US$7.50m (up 38% from 1Q 2021). Net income: US$3.73m (up US$14.8m from 1Q 2021). Profit margin: 50% (up from net loss in 1Q 2021). Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2023 The analyst covering SRAX previously expected the company to break even in 2022. New forecast suggests the company will make a profit of US$12.3m in 2023. Average annual earnings growth of 117% is required to achieve expected profit on schedule. Announcement • Dec 02
SRAX, Inc., Annual General Meeting, Dec 31, 2022 SRAX, Inc., Annual General Meeting, Dec 31, 2022, at 11:00 Pacific Standard Time. Agenda: To consider and approve Election of six (6) members to the board of directors (“Board”) to serve for the following year or until their respective successors are appointed and qualified; Ratification of the appointment of Marcum LLP as independent registered public accounting firm for 2022; and to discuss other matters. Price Target Changed • Nov 16
Price target increased to US$10.50 Up from US$9.75, the current price target is an average from 2 analysts. New target price is 518% above last closing price of US$1.70. Stock is down 67% over the past year. The company is forecast to post earnings per share of US$0.32 next year compared to a net loss per share of US$0.41 last year. Announcement • Oct 22
SRAX, Inc. Launches the Sequire Investor Community Platform SRAX, Inc. has launched its beta program for retail and institutional investors - Sequire Community. The Sequire Community is an ever-growing community of like-minded individuals, education, and resources. Complementing Sequire’s suite of products connecting public companies with their shareholders, this new platform gives investors and companies the ability to interact in a different way - through virtual Q&A events that can be held alone or in addition to earnings calls. Companies will have the ability to: Create a company profile showcasing their bio, ticker, and stock price; Launch Q&A events; Answer verified investor’s questions; See the amount of stock owned by investors asking questions; Hear what is important to shareholders. Investors will have the opportunity to: Connect their brokerage account to become verified; Engage with companies directly by asking questions; Upvote other investor’s questions on a company’s profile; Give companies feedback; Explore company profiles and other investment opportunities. In the final version of the platform, companies and investors will be able to start threads, link websites into questions and answers, as well as upload images or graphs. Announcement • Oct 21
SRAX Announces Receipt of Nasdaq Listing Determination On October 20, 2022, SRAX, Inc. announced that on October 14, 2022, the company received notice from the Nasdaq Listing Qualifications Staff (the ‘Staff’) indicating that the Staff had determined to delist the Company’s securities from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the ‘Panel’). The Staff’s determination was based upon the Company’s non-compliance with the filing requirement set forth in Nasdaq Listing Rule 5250(c)(1). On October 12, 2022, the Company filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 with the Securities and Exchange Commission (the ‘SEC’); however, the Company has not yet filed the Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022 with the SEC. The Company plans to timely request a hearing before the Panel and, in accordance with Nasdaq Listing Rule 5815(a)(1)(B), a stay of any further suspension or delisting action by Nasdaq at least pending the issuance of a decision and the expiration of any extension that may be granted by the Panel following the hearing. At the hearing, the Company will present its plan to evidence compliance with the Filing Requirement and request an extension of time to do so. The Company is diligently working to file all necessary periodic reports with the SEC as soon as practicable; however, there can be no assurance that the Panel will determine to continue the company’s listing on Nasdaq or that the Company will be able to timely satisfy the terms of any extension that may be granted by the Panel as a result of the hearing. Reported Earnings • Oct 13
Full year 2021 earnings released: US$0.41 loss per share (vs US$0.69 loss in FY 2020) Full year 2021 results: US$0.41 loss per share (improved from US$0.69 loss in FY 2020). Revenue: US$26.7m (up 312% from FY 2020). Net loss: US$9.70m (loss narrowed 3.6% from FY 2020). Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Oct 04
SRAX, Inc. Announces the Arcimoto Sweepstakes SRAX, Inc. announced the launch of the SRAX Arcimoto Sweepstakes. The sweepstakes, open to the investor community, is live and will run until October 30. The grand prize of an Arcimoto FUV, a fully electric vehicle, will be awarded to the lucky winner during the first week of November. Arcimoto is on a mission to decrease emissions by transforming the way the company drive, while keeping it FUN. The FUV is the future of clean, affordable transportation, and both companies look forward to spreading Arcimoto’s mission in a unique way. Price Target Changed • Aug 17
Price target increased to US$10.50 Up from US$9.75, the current price target is an average from 2 analysts. New target price is 305% above last closing price of US$2.59. Stock is down 37% over the past year. The company is forecast to post earnings per share of US$4.71 next year compared to a net loss per share of US$1.00 last year. Announcement • Jun 07
SRAX, Inc. Provides Earnings Guidance for the First Quarter and Full Year 2022 SRAX, Inc. provided earnings guidance for the first quarter and full year 2022. For the quarter, the company expected to be in the range of $11.5 million representing an increase of 20% over the fourth quarter and 250% over the previous year.For the year, the company expected to be in the range of $47 million to $50 million, representing an increase in the range of 65% to 75% versus 2021 revenue of $28.5 million. Announcement • May 18
SRAX, Inc. announced delayed 10-Q filing On 05/17/2022, SRAX, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 28
SRAX, Inc. Receives Non-Compliance Notice from Nasdaq On April 19, 2022, SRAX, Inc. received a notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC (Nasdaq") stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2021 (the 2021 Form 10-K") with the Securities and Exchange Commission (the SEC"). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the SEC. Under Nasdaq rules, the Company has 60 calendar days from the date of the Nasdaq notification letter, or until June 20, 2022, to file the 2021 Form 10-K with the SEC to regain compliance. If the Company is unable to file the 2021 Form 10-K with the SEC by June 20, 2022, then the Company is permitted to submit a plan to regain compliance with the Nasdaq Listing Rules on or prior to that date. If Nasdaq accepts the Company's plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the 2021 Form 10-K, or until October 12, 2022, to regain compliance. However, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If the Company fails to timely regain compliance with Nasdaq's listing rules, the Class A Common Stock (Common Stock") of the Company will be subject to delisting on the Nasdaq Global Market. The Nasdaq notice has no immediate impact on the listing or trading of the Company's Common Stock on the Nasdaq Global Market. The Company is continuing to work diligently to finalize and file the 2021 Form 10-K as soon as possible within the timeline prescribed by Nasdaq. Announcement • Apr 01
SRAX, Inc. announced delayed annual 10-K filing On 03/31/2022, SRAX, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Jan 12
SRAX, Inc. Provides Revenue Guidance for the First Quarter and Full Year of 2022 SRAX, Inc. provided revenue guidance for the first quarter and full year of 2022. For the first quarter of 2022, the company expects revenue of $11.5 million, a 111% increase over the first quarter of 2021 revenue.Full-year 2022 guidance of $46 million - $48 million, an increase of 46% - 52% over 2021 unaudited revenue of approximately $31.5 million. Reported Earnings • Nov 20
Third quarter 2021 earnings released: US$0.15 loss per share (vs US$0.45 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$8.31m (up 219% from 3Q 2020). Net loss: US$3.83m (loss narrowed 42% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 21
Second quarter 2021 earnings released: US$0.24 loss per share (vs US$0.38 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: US$7.68m (up US$6.51m from 2Q 2020). Net loss: US$5.74m (loss widened 7.9% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Major Estimate Revision • Aug 18
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$27.5m to US$31.8m. EPS estimate fell from -US$0.41 to -US$0.69 per share. Software industry in the US expected to see average net income growth of 4.5% next year. Consensus price target of US$9.75 unchanged from last update. Share price rose 4.5% to US$4.14 over the past week. Announcement • Aug 18
SRAX, Inc. (NasdaqCM:SRAX) announces an Equity Buyback for $10 million worth of its shares. SRAX, Inc. (NasdaqCM:SRAX) announces a share repurchase program. Under the program, the company will repurchase up to $10 million worth of its shares. Price Target Changed • Aug 18
Price target increased to US$9.75 Up from US$8.58, the current price target is an average from 2 analysts. New target price is 130% above last closing price of US$4.23. Stock is up 57% over the past year. Announcement • Jun 15
SRAX Releases the 1x1 Meeting Feature on the Sequire Virtual Events Platform SRAX, Inc. announced the release of its 1x1 Meeting Feature in the Sequire Virtual Events Platform. This new addition will allow companies to connect with existing and potential shareholders on an individual basis during an event.
The new 1x1 feature is an addition to Sequire Audience, a tool that allows companies to launch their earnings calls, shareholder meetings and other customizable events. The 1x1 meeting feature is used during virtual conferences, and in the Sequire Audience product. With this addition, company representatives presenting at a Sequire hosted conference are able to: Create 1x1 meetings and make them visible to attendees. Announce their meetings to a broad or custom audience. Approve the attendee requests in advance and reschedule if necessary. Join the meeting (both video and audio available). Add meetings to their email calendars and download their schedule. Announcement • May 19
SRAX, Inc. announced delayed 10-Q filing On 05/18/2021, SRAX, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • Apr 03
Full year 2020 earnings released: US$0.92 loss per share (vs US$1.36 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$8.65m (up 141% from FY 2019). Net loss: US$14.7m (loss narrowed 13% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Mar 16
SRAX, Inc. Releases the Shelf Registration Feature on the Sequire Platform SRAX, Inc. announced the release of its Shelf Registration Feature. This new Sequire addition combines data and technology to provide actionable insights to public companies in regards to their shelf availability. The new shelf registration feature joins many other unique and robust Sequire features such as warrant management, situation room, and shareholder surveys. The shelf feature enables shelf eligible users to review and keep track of their shelf registration and current shelf availability. Included with this is the Shelf Prediction Tool: a real-time application to explore potential market windows, showing the impact of market volatility and thus improving funding plans. Shelf Registration Feature benefits: Know what is available on your shelf at any time; Continuous importing of all data in real time; Seamless data additions for non-public share increases via the full-feature data editor; and Efficient, one-click predictions to explore the impact of market volatility. This feature brings additional value to the Sequire platform and is just the beginning of a series of features to be released in 2021. Announcement • Mar 12
Brock Pierce Joins SRAX Board of Directors SRAX, Inc. announced that Brock Pierce has joined the SRAX board of directors. Pierce has co-founded, advised, and funded over 100 companies to support the creation of new jobs and marketplaces through technological innovation including many blockchain technologies that have paved the way for cryptocurrency innovations. He continues to give back through his philanthropic efforts. He has been quoted on many occasions saying “a billionaire is a person who has a positive impact on a billion people.” In his continued efforts to give back, he ran as a candidate for President of the United States in the 2020 election. Brock was responsible for the formation of Five Delta, a company that SRAX Purchased in 2014. Five Delta had a number of patents around social media ad targeting. The team and technology went on to form SRAX MD, which SRAX then sold in 2018 to a private equity firm for close to $50M. Is New 90 Day High Low • Feb 02
New 90-day high: US$3.95 The company is up 51% from its price of US$2.62 on 03 November 2020. The American market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$0.19 per share. Is New 90 Day High Low • Dec 29
New 90-day high: US$3.12 The company is up 11% from its price of US$2.82 on 29 September 2020. The American market is up 14% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Media industry, which is also up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$1.26 per share. Major Estimate Revision • Nov 24
Analysts update estimates The 2020 consensus revenue estimate increased from US$6.03m to US$8.19m. Earning per share (EPS) estimate was further reduced from -US$1.21 to -US$1.31 for the same period. The Media industry in the US is expected to see an average net income growth of 16% next year. The consensus price target of US$5.00 was unchanged from the last update. Share price stayed mostly flat at US$2.94 over the past week. Announcement • Nov 21
SRAX, Inc., Annual General Meeting, Dec 31, 2020 SRAX, Inc., Annual General Meeting, Dec 31, 2020, at 11:00 Pacific Standard Time. Agenda: To consider election of directors; to consider ratification of the appointment of RBSM LLP as independent registered public accounting firm for 2020; to approve an advisory vote to approve executive compensation (non-binding); to approve an advisory vote to approve the frequency of holding future advisory votes on executive compensation every 1, 2, or 3 years (non-binding); and to transact such other business as may properly come before the annual meeting and any postponement thereof. Reported Earnings • Nov 18
Third quarter 2020 earnings released: US$0.45 loss per share The company reported a decent third quarter result with improved revenues, although earnings and control over expenses were weaker. Third quarter 2020 results: Revenue: US$2.61m (up 161% from 3Q 2019). Net loss: US$6.57m (down US$7.98m from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Oct 31
An undisclosed buyer acquired the remaining stake in the MD Asset of SRAX, Inc. (NasdaqCM:SRAX) for $8 million. An undisclosed buyer acquired the remaining stake in the MD Asset of SRAX, Inc. (NasdaqCM:SRAX) for $8 million on October 30, 2020.
An undisclosed buyer completed the acquisition of the remaining stake in the the MD Asset of SRAX, Inc. (NasdaqCM:SRAX) on October 30, 2020. Is New 90 Day High Low • Oct 15
New 90-day low: US$2.34 The company is down 4.0% from its price of US$2.45 on 17 July 2020. The American market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 8.0% over the same period. Announcement • Oct 14
SRAX, Inc. Announces Resignation of Kristoffer Nelson as Chief Operating Officer and as a Member of the Board, Effective October 16, 2020 On October 8, 2020, Kristoffer Nelson informed the board of directors of SRAX, Inc. that he is resigning, effective October 16, 2020, as the Company’s chief operating officer and as a member of the Board. Mr. Nelson is resigning in order to pursue other business activities and not because of any disputes or disagreements with the Company, the Board, management, or the Company’s auditors on any matters relating to the Company’s operations, policies, procedures or practices. Announcement • Jul 17
SRAX, Inc. announced that it has received $13 million in funding On June 30, 2020, SRAX, Inc. (NasdaqCM:SRAX) closed the transaction. The company received $1,932,123.92 in funding pursuant to exemption provided under the Regulation D from 12 investors. Announcement • Jul 05
SRAX, Inc.(NasdaqCM:SRAX) dropped from Russell Microcap Growth Index SRAX, Inc.(NasdaqCM:SRAX) dropped from Russell Microcap Growth Index Announcement • Jun 29
SRAX, Inc. announced that it has received $11.8 million in funding SRAX, Inc. (NasdaqCM:SRAX) announced that it has entered into securities purchase agreements led by existing institutional investors for private placement of senior secured convertible debentures and common stock purchase warrants for gross proceeds of $11,800,000 on June 25, 2020. The company has issued $14,772,727 principal amount original issue discount secured convertible debentures. The common stock purchase warrants are convertible into up to 6,295,435 shares of class A common stock at a conversion price of $2.50 per share. The debentures are convertible into common shares at a conversion price of $2.69 per share. The debentures are secured by a first priority security interest in substantially all of the company’s assets. The company has paid placement agent fees, legal fees, and other estimated offering expenses in connection with the transaction. The debentures bear an interest rate of 12% per year, payable quarterly. The debentures will mature on December 29, 2021, subject to 3 consecutive six-month extensions at the holder’s sole discretion, unless earlier redeemed or converted. 