Duyuru • Feb 14
ADDvantage Technologies Group, Inc.(OTCPK:AEYG.Q) dropped from NASDAQ Telecom Index ADDvantage Technologies Group, Inc. removed Duyuru • Feb 13
ADDvantage Technologies Group, Inc.(OTCPK:AEYG.Q) dropped from NASDAQ Composite Index ADDvantage Technologies Group, Inc. has been dropped from Nasdaq Composite Index. Duyuru • Feb 06
ADDvantage Technologies Group Receives a Letter from the Staff of the Listing Qualifications Department of the Nasdaq Stock Market On February 2, 2024, ADDvantage Technologies Group, Inc. received a letter from the staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC notifying the Company and the Chapter 7 trustee that the Staff has, in accordance with Listing Rules 5101, 5110(b), and IM-5101-1, determined that the Company’s securities will be delisted from Nasdaq based on the following factors: (i) on January 31, 2024, the Company entered the Bankruptcy Filing and the associated public interest concerns raised by such filing; (ii) concerns regarding the residual equity interest of the existing listed securities holders; and (iii) concerns about the Company’s ability to sustain compliance with all requirements for continued listing on Nasdaq. The Staff’s letter indicates that the trading of the Company’s common stock on Nasdaq will be suspended at the opening of business on February 13, 2024, and a Form 25-NSE will be filed with the Commission, which will remove the Company’s securities from listing and registration on Nasdaq. The Company does not intend to appeal the Staff’s determination. Therefore, the Company expects that the trading of the Company’s common stock will be suspended at the opening of business on February 13, 2024 and delisted from Nasdaq, as indicated in the Staff’s letter. Duyuru • Nov 17
ADDvantage Technologies Group, Inc. Completes 1-For-10 Reverse Stock Split as Part of Nasdaq Compliance Plan ADDvantage Technologies Group, Inc. (“ADDvantage Technologies” or the “Company”) announced that on November 16, 2023, ADDvantage Technologies Group, Inc. effected a one-for-10 (1:10) reverse stock split of all issued and outstanding shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”) effective as of 12:01 a.m. Eastern Time on November 16, 2023 (the “Reverse Stock Split”), vide a Certificate of Amendment to the Certificate of Incorporation of ADDvantage Technologies Group, Inc. (the “Certificate of Amendment”) filed with the Secretary of State of Oklahoma on November 16, 2023, and deemed effective on November 16, 2023 at 12:01 a.m. Eastern Time. The Reverse Stock Split was intended to bring the Company into compliance with the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market, as required by Nasdaq Listing Rule 5550(a)(2). As previously disclosed, at the Company’s Annual Meeting of Stockholders held on September 22, 2023 (the “Annual Meeting”), the Company’s stockholders approved of a proposal (the “Proposal”) authorizing an amendment to the Company’s Certificate of Incorporation, if necessary, to effect a reverse stock split of all issued and outstanding shares of the Common Stock at an exchange ratio ranging from one-for-ten (1:10) to one-for-two (1:2), with such reverse stock split to be effected at an exchange ratio and at such a date and time, if at all, as determined by the Chief Executive Officer of the Company (the “CEO”) in its sole discretion. Reported Earnings • Nov 17
Third quarter 2023 earnings released: US$1.90 loss per share (vs US$1.09 profit in 3Q 2022) Third quarter 2023 results: US$1.90 loss per share (down from US$1.09 profit in 3Q 2022). Revenue: US$10.3m (down 60% from 3Q 2022). Net loss: US$2.73m (down 284% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. New Risk • Nov 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 9x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.9m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (over 9x increase in shares outstanding). Market cap is less than US$10m (US$4.78m market cap). Duyuru • Nov 02
ADDvantage Technologies Group, Inc. to Report Q4, 2023 Results on Nov 14, 2023 ADDvantage Technologies Group, Inc. announced that they will report Q4, 2023 results After-Market on Nov 14, 2023 New Risk • Aug 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.9m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (US$5.64m market cap). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). Reported Earnings • Aug 15
Second quarter 2023 earnings released: US$0.20 loss per share (vs US$0.066 profit in 2Q 2022) Second quarter 2023 results: US$0.20 loss per share (down from US$0.066 profit in 2Q 2022). Revenue: US$12.1m (down 56% from 2Q 2022). Net loss: US$2.83m (down 424% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2023 earnings released: US$0.20 loss per share (vs US$0.066 profit in 2Q 2022) Second quarter 2023 results: US$0.20 loss per share (down from US$0.066 profit in 2Q 2022). Revenue: US$12.1m (down 56% from 2Q 2022). Net loss: US$2.83m (down 424% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Duyuru • Aug 11
ADDvantage Technologies Group, Inc., Annual General Meeting, Sep 22, 2023 ADDvantage Technologies Group, Inc., Annual General Meeting, Sep 22, 2023, at 09:00 Central Standard Time. Location: 1430 Bradley Lane, Suite 196 Carrollton, TX 75007 Texas United States Agenda: To consider Election of six directors to serve until the 2024 Annual Meeting of Stockholders and until their respective successors are duly elected and qualified;to consider ratification of the appointment of HoganTaylor LLP as our independent registered public accounting firm for the fiscal year ended December 31, 2023;to consider Approve an amendment to our Certificate of Incorporation to increase our authorized shares of common stock from 35,000,000 to 100,000,000, of which 95,000,000 shares shall be Common Stock with a par value of $0.01 per share, and 5,000,000 shares shall be Preferred Stock with a par value of $1.00 per share; and to consider other matters. Duyuru • Jul 28
ADDvantage Technologies Group, Inc. to Report Q3, 2023 Results on Aug 14, 2023 ADDvantage Technologies Group, Inc. announced that they will report Q3, 2023 results After-Market on Aug 14, 2023 Duyuru • Jun 12
ADDvantage Technologies Receives Notice from Nasdaq Regarding Non-Compliance with Minimum Bid Price Requirement for Continued Listing on The Nasdaq Capital Market On June 7, 2023, ADDvantage Technologies Group, Inc. received a letter (the ‘Notice’) from The Nasdaq Stock Market notifying the Company that, because the closing bid price for its common stock has been below $1.00 per share for 30 consecutive business days, it no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share (the ‘Minimum Bid Price Requirement’), and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice has no immediate effect on the listing of the Company’s common stock on The Nasdaq Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until December 4, 2023 to regain compliance with the Minimum Bid Price Requirement. During the compliance period, the Company’s shares of common stock will continue to be listed and traded on The Nasdaq Capital Market. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during the 180-calendar day grace period. In the event the Company is not in compliance with the Minimum Bid Price Requirement by December 4, 2023, the Company may be afforded a second 180-calendar day grace period. To qualify, the Company would be required to meet the continued listing requirements for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement. In addition, the Company would be required to provide written notice of its intention to cure the minimum bid price deficiency during this second 180-day compliance period. The Company intends to actively monitor the bid price for its common stock between now and December 4, 2023, and will consider available options to regain compliance with the Minimum Bid Price Requirement, including by approving a reverse stock split. Reported Earnings • May 17
First quarter 2023 earnings released: US$0.21 loss per share (vs US$0.11 loss in 1Q 2022) First quarter 2023 results: US$0.21 loss per share (further deteriorated from US$0.11 loss in 1Q 2022). Revenue: US$14.7m (down 38% from 1Q 2022). Net loss: US$2.75m (loss widened 97% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$1.15, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 17x in the Electronic industry in the US. Total loss to shareholders of 48% over the past three years. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: US$0.035 (vs US$0.64 loss in FY 2021) Full year 2022 results: EPS: US$0.035 (up from US$0.64 loss in FY 2021). Revenue: US$97.0m (up 30% from FY 2021). Net income: US$471.0k (up US$8.59m from FY 2021). Profit margin: 0.5% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Duyuru • Feb 16
ADDvantage Technologies Group, Inc. to Report Q1, 2023 Results on Mar 21, 2023 ADDvantage Technologies Group, Inc. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on Mar 21, 2023 Duyuru • Feb 15
ADDvantage Technologies Names Jerry D. Jones as President of Wireless Services ADDvantage Technologies Group, Inc. announced that it has named Jerry D. (JD) Jones as president of its Wireless Services business unit, effective February 13, 2023. Jones joins ADDvantage Technologies from Nexius Solutions, a telecommunications deployment services and smart technology solutions provider, and he brings more than a quarter of a century of experience and expertise in the wireless industry to the Company. Jones served as Executive Vice President, Customer Unit at Nexius Solutions, where he was responsible for all customer management, business development, deployment and profit and loss nationwide for all customers. From 2000-2012, he served in various leadership roles for AT&T Mobility, managing site acquisition, real estate, zoning, architectural and engineering requirements for all new build and site acquisition-only sites. As an Area Manager in Texas he was responsible for the implementation of over 12,000 projects involving various technologies. JD also served in leadership roles with Goodman Networks, CrossLayer, Ericsson, Downey Telecom Services, 5G LLC, and Trilogy 5G Inc., primarily focused on wireless construction projects and management. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Independent Director John Shelnutt was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Nov 02
ADDvantage Technologies Group, Inc. to Report Q4, 2022 Results on Nov 14, 2022 ADDvantage Technologies Group, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 14, 2022 Board Change • Aug 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Independent Director John Shelnutt was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Aug 13
ADDvantage Technologies Group, Inc., Annual General Meeting, Sep 23, 2022 ADDvantage Technologies Group, Inc., Annual General Meeting, Sep 23, 2022, at 09:00 Central Standard Time. Agenda: To consider election of directors; to ratification of appointment of independent registered public accounting firm; and to approval of amendment to 2015 incentive stock plan. Reported Earnings • Aug 12
Third quarter 2022 earnings released: EPS: US$0.066 (vs US$0.17 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.066 (up from US$0.17 loss in 3Q 2021). Revenue: US$27.8m (up 63% from 3Q 2021). Net income: US$875.0k (up US$3.00m from 3Q 2021). Profit margin: 3.1% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 28
ADDvantage Technologies Group, Inc. to Report Q3, 2022 Results on Aug 11, 2022 ADDvantage Technologies Group, Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 11, 2022 Duyuru • Jul 19
ADDvantage Technologies Group, Inc. Announces Management Changes On July 18, 2022, ADDvantage Technologies Group, Inc. announced the retirement of Jimmy Taylor, the Company’s Chief Marketing Officer-Wireless. Mr. Taylor’s responsibilities will be assumed by Joe Hart, the Company’s Chief Executive Officer. Reported Earnings • May 13
Second quarter 2022 earnings released: US$0.11 loss per share (vs US$0.25 loss in 2Q 2021) Second quarter 2022 results: US$0.11 loss per share (up from US$0.25 loss in 2Q 2021). Revenue: US$23.8m (up 88% from 2Q 2021). Net loss: US$1.39m (loss narrowed 55% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Duyuru • Apr 22
ADDvantage Technologies Group, Inc. to Report First Half, 2022 Results on May 12, 2022 ADDvantage Technologies Group, Inc. announced that they will report first half, 2022 results on May 12, 2022 Duyuru • Apr 06
ADDvantage Technologies Group, Inc. Announces Management Changes ADDvantage Technologies Group, Inc. announced that Damon Slachter was promoted to President of Triton Datacom, Mike Burch was promoted to President of Nave Communications. Reginald Jaramillo Leal, who previously served as President of Telecommunications, overseeing both Triton and Nave, has left the company to pursue other opportunities. Both Mr. Slachter and Mr. Burch will report to Michael Rutledge, Chief Financial Officer. Joe Hart, President and CEO of ADDvantage Technologies also announces that Jimmy Taylor, formerly President of Fulton Technologies Inc., has moved to the position of Chief Marketing Officer-Wireless effective April 1, 2022 and will be responsible for enhancing Customer Relationships, Sales and Marketing on a full-time basis in order to grow the Wireless business even further and maximize the 5G opportunity. Reported Earnings • Feb 15
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: US$0.16 loss per share (up from US$0.16 loss in 1Q 2021). Revenue: US$18.7m (up 47% from 1Q 2021). Net loss: US$2.03m (loss widened 3.9% from 1Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Duyuru • Feb 04
ADDvantage Technologies Group, Inc. to Report Q1, 2022 Results on Feb 14, 2022 ADDvantage Technologies Group, Inc. announced that they will report Q1, 2022 results After-Market on Feb 14, 2022 Reported Earnings • Dec 29
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: US$0.52 loss per share (up from US$1.55 loss in FY 2020). Revenue: US$62.2m (up 24% from FY 2020). Net loss: US$6.50m (loss narrowed 63% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Executive Departure • Sep 23
Independent Director Thomas Franz has left the company On the 15th of September, Thomas Franz's tenure as Independent Director ended after 14.1 years in the role. As of June 2021, Thomas still personally held 95.71k shares (US$329k worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 1.58 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Sep 11
Chief Financial Officer Michael Ramke has left the company On the 7th of September, Michael Ramke's tenure as Chief Financial Officer ended after less than a year in the role. We don't have any record of a personal shareholding under Michael's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 1.38 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Aug 14
Third quarter 2021 earnings released: US$0.17 loss per share (vs US$0.002 profit in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: US$17.0m (up 42% from 3Q 2020). Net loss: US$2.12m (down US$2.15m from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Reported Earnings • May 16
Second quarter 2021 earnings released: US$0.25 loss per share (vs US$1.41 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$12.7m (up 5.9% from 2Q 2020). Net loss: US$3.06m (loss narrowed 79% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Duyuru • May 15
ADDvantage Technologies Group, Inc. Provides Earnings Guidance for the Fourth Quarter and Fiscal Year of 2022 ADDvantage Technologies Group, Inc. provided earnings guidance for the fourth quarter and fiscal year of 2022. For the period the company announced that fiscal year 2021 of fourth quarter it, expected to be able to report a growing backlog of assigned tower work, demonstrating the progress have made and positioning for a strong financial year of 2021 fourth quarter and an exciting fiscal year of 2022. Executive Departure • Apr 03
Vice President & Secretary Scott Francis has left the company On the 31st of March, Scott Francis' tenure as Vice President & Secretary ended after 11.7 years in the role. As of December 2020, Scott personally held 112.12k shares (US$335k worth at the time). A total of 2 executives have left over the last 12 months. Executive Departure • Apr 03
Chief Financial Officer has left the company On the 31st of March, Jarrod Watson's tenure as Chief Financial Officer ended after less than a year in the role. As of December 2020, Jarrod personally held 99.94k shares (US$299k worth at the time). A total of 2 executives have left over the last 12 months. Is New 90 Day High Low • Mar 06
New 90-day low: US$2.67 The company is down 20% from its price of US$3.32 on 04 December 2020. The American market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 10.0% over the same period. Reported Earnings • Feb 13
First quarter 2021 earnings released: US$0.16 loss per share (vs US$0.17 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$12.7m (down 8.7% from 1Q 2020). Net loss: US$1.95m (loss widened 14% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 67% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Duyuru • Jan 29
ADDvantage Technologies Group, Inc. to Report Q1, 2021 Results on Feb 11, 2021 ADDvantage Technologies Group, Inc. announced that they will report Q1, 2021 results After-Market on Feb 11, 2021 Reported Earnings • Dec 18
Full year 2020 earnings released: US$1.55 loss per share The company reported a poor full year result with increased losses and weaker revenues and control over expenses. Full year 2020 results: Revenue: US$50.2m (down 9.0% from FY 2019). Net loss: US$17.3m (loss widened 330% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 71% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Duyuru • Dec 04
ADDvantage Technologies Group, Inc. to Report Fiscal Year 2020 Results on Dec 16, 2020 ADDvantage Technologies Group, Inc. announced that they will report fiscal year 2020 results at 5:00 PM, Eastern Standard Time on Dec 16, 2020 Is New 90 Day High Low • Nov 24
New 90-day high: US$2.50 The company is up 4.0% from its price of US$2.41 on 25 August 2020. The American market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 18% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: US$1.82 The company is down 18% from its price of US$2.22 on 31 July 2020. The American market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 2.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: US$2.03 The company is down 6.0% from its price of US$2.17 on 24 June 2020. The American market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 6.0% over the same period. Duyuru • Jul 31
ADDvantage Technologies Group, Inc. to Report Q3, 2020 Results on Aug 11, 2020 ADDvantage Technologies Group, Inc. announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Aug 11, 2020 