Core Viewpoint - LogicMark, Inc. has launched the Freedom Alert Max, an advanced personal emergency response system designed for seniors and caregivers, featuring over-the-air updates, fall detection, geofencing, and emergency video capabilities [1][3][8]. Product Features - Freedom Alert Max includes medication reminders, a fall detection algorithm, and geofencing for patients with dementia and Alzheimer's [1][6]. - The device features a user-friendly display with large buttons and text, making it accessible for users with impaired vision [3]. - It is the first fall detection device to offer emergency video for caregivers through the Care Village app, allowing real-time visual assessment of the user's well-being [3]. - The proprietary fall detection technology can sense falls and sudden movements, automatically calling for help even if the user cannot speak [4]. - The device learns patterns to prevent false positives in fall detection and predicts future falls [5]. Target Market - More than 7 million Americans live with Alzheimer's, and over 11 million care for those with dementia, highlighting the importance of the device's features for seniors and caregivers [6]. Monitoring and Communication - Freedom Alert Max provides 24/7 monitoring, ensuring immediate assistance during emergencies [7]. - The device pairs with the Care Village app for real-time alerts, location monitoring, and easy setup for caregivers [7]. - Caregivers can designate an "on-call" caregiver for emergencies, facilitating better coordination among care team members [7]. Pricing and Availability - The device is available for a one-time activation fee of $54.99, a monthly cellular plan of $19.99, and a 24/7 monitoring fee of $34.99, with a 90-day free trial for new users [8]. Company Mission and Vision - LogicMark aims to empower individuals of all ages to live with dignity and independence through innovative medical alert and health communication devices [10]. - The company is focused on creating a 'Care Village' with proprietary technology to enhance the care economy [11].

Core Viewpoint - LogicMark, Inc. has announced a reverse stock split of its common stock at a ratio of 1-for-25 to comply with Nasdaq's minimum bid price requirement [1][2][3] Group 1: Reverse Stock Split Details - The reverse stock split for both common and Series C preferred stock was approved during a Special Meeting of Stockholders on October 1, 2024 [2] - The reverse stock split is intended to ensure compliance with Nasdaq's $1.00 per share minimum bid price requirement for continued listing [2][3] - The common stock will begin trading on a split-adjusted basis on November 19, 2024, under a new CUSIP number [2] Group 2: Management Commentary - The CEO of LogicMark emphasized that the primary purpose of the reverse split is to maintain Nasdaq listing and to position the company for future product launches [3] Group 3: Company Overview - LogicMark, Inc. specializes in personal emergency response systems (PERS) and health communication devices, aiming to create a Connected Care Platform [5] - The company's products are designed to enable individuals to receive care at home and support aging in place [5] - LogicMark has contracts with the U.S. Veterans Health Administration and the U.S. General Services Administration for product distribution [5]

Revenue Performance - For the three months ended September 30, 2024, revenue increased by 14% to $2,705,461 compared to $2,367,227 for the same period in 2023[102] - For the nine months ended September 30, 2024, revenue increased by 2% to $7,652,813 compared to $7,503,940 for the same period in 2023[102] Profit and Operating Costs - Gross profit for the three months ended September 30, 2024, was $1,801,627, maintaining a profit margin of 67% consistent with the same period in 2023[102] - Direct operating costs for the three months ended September 30, 2024, increased by $92,298 to $359,044 compared to $266,746 for the same period in 2023[104] - Total operating expenses for the three months ended September 30, 2024, were $3,401,179, compared to $3,376,860 for the same period in 2023[104] Advertising and Marketing Expenses - The company experienced an increase in advertising costs to $114,795 for the three months ended September 30, 2024, compared to $57,195 for the same period in 2023[104] - Advertising costs increased by $0.1 million and $0.2 million for the three and nine months ended September 30, 2024, respectively, driven by hardware sales through Amazon.com and social media advertising expansion[106] - Selling and marketing expenses decreased by $37.3 thousand for the three months ended September 30, 2024, but increased by $0.2 million for the nine months ended September 30, 2024, primarily due to consultant expenses and recruitment[107] Research and Development Expenses - Research and development expenses for the three months ended September 30, 2024, were $96,650, up from $242,697 for the same period in 2023[104] - Research and development expenses decreased by $0.1 million and $0.4 million for the three and nine months ended September 30, 2024, respectively, due to increased capitalization of salaries and reduced product development costs[108] General and Administrative Costs - General and administrative costs decreased by $0.2 million and $1.1 million for the three and nine months ended September 30, 2024, respectively, driven by lower recruiting and consulting costs[109] Other Income and Losses - The company recorded total other income of $80,747 for the three months ended September 30, 2024, down from $335,113 in the same period of 2023[110] - The company generated an operating loss of $5.5 million and a net loss of $5.3 million for the nine months ended September 30, 2024, with cash and cash equivalents of $5.6 million as of the same date[112] Cash Flow and Capital Management - Net cash used in operating activities was $3.3 million for the nine months ended September 30, 2024, compared to $3.6 million for the same period in 2023[115] - The company completed a public offering with gross proceeds of $4.5 million during the nine months ended September 30, 2024, down from $5.2 million in the same period of 2023[116] - The company believes it has sufficient capital to sustain operations for the next twelve months, with potential for raising additional funds through equity or debt offerings[113] - The company has not engaged in off-balance sheet arrangements or undisclosed borrowings, minimizing exposure to financing and liquidity risks[118] Share Issuance and Rights Agreement - The company issued 1,000 shares of Series H Convertible Non-Voting Preferred Stock, convertible at an initial price of $0.4654, as part of settlement agreements on November 14, 2024[100] - A rights agreement was established on November 1, 2024, to protect against potential control by Winvest Investment Fund Management Corp., which owns approximately 67% of the company's common stock[96] - The company authorized 1,000,000 shares of Series G Non-Convertible Voting Preferred Stock, which entitles holders to 100 votes per share[98]

Financial Performance - Revenues for Q3 2024 reached $2.7 million, representing a 14% year-over-year increase[2] - Gross profit for the quarter was $1.8 million, a 13% increase compared to Q3 2023, with a gross margin of 67%[5] - Adjusted EBITDA for Q3 2024 was a loss of $0.8 million, an improvement from a loss of $1.1 million in Q3 2023[6] - Net loss attributable to common shareholders for Q3 2024 was $1.6 million, compared to a net loss of $1.5 million in the same period last year[7] Sales and Operations - The company sold 1,106 units of the Freedom Alert Mini in Q3 2024, a significant increase from 191 units in Q2 2024[3] - Total operating expenses were $3.4 million, remaining flat compared to the same quarter last year[6] - The company has entered into a new reseller partnership with Black Knight LLC, enhancing sales opportunities[3] Cash and Assets - Cash and cash equivalents as of September 30, 2024, stood at $5.6 million, following a secondary offering that raised approximately $4.5 million[8] - Total current assets decreased from $8,049,444 to $7,007,575, a decline of approximately 12.92%[18] - Cash and cash equivalents decreased from $6,398,164 to $5,585,835, a reduction of about 12.68%[18] - Accounts receivable increased significantly from $13,647 to $116,533, representing a growth of 754.66%[18] - Inventory decreased from $1,177,456 to $818,717, a decline of approximately 30.54%[18] - Total assets decreased from $17,017,180 to $16,042,295, a decline of about 5.73%[18] - Goodwill remained unchanged at $3,143,662, indicating stability in this asset category[18] Liabilities and Equity - Total liabilities decreased from $2,104,664 to $1,880,519, a reduction of about 10.66%[18] - Stockholders' equity decreased from $13,105,216 to $12,354,476, a decline of approximately 5.73%[19] - Accumulated deficit increased from $(100,160,891) to $(105,463,096), reflecting a worsening of about 5.43%[19] - Additional paid-in capital increased from $112,946,891 to $117,497,385, an increase of approximately 4.88%[19] Corporate Actions - A reverse stock split was approved on October 1, 2024, to help regain compliance with Nasdaq listing requirements[9] - The company is focused on maintaining strong gross margins while expanding its product offerings in the personal emergency response systems market[3]

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $2.7 million, reflecting a 14% increase compared to the same period last year [5][18] - Gross profit improved by 13% to $1.8 million, maintaining a gross margin of 67% for the last six consecutive quarters [5][19] - Adjusted EBITDA for Q3 was a loss of $785,000, an improvement over the $1.1 million loss in Q3 2023 [20] - Net loss attributable to common shareholders was $1.6 million, compared to a net loss of $1.5 million in the same quarter last year [21] Business Line Data and Key Metrics Changes - Sales of the Freedom Alert Mini increased significantly from 191 units in Q2 to over 1,100 units in Q3 [18] - Higher sales were driven by both the legacy Guardian Alert 911 Plus product and the newly released Freedom Alert Mini [18] Market Data and Key Metrics Changes - The market opportunity for independent living and aging is projected to reach $17.26 billion by 2028 [13] - The smart personal safety market opportunity is projected to reach $33.5 billion by 2030, driven by increasing concerns over personal safety [14] Company Strategy and Development Direction - The company is transitioning into a software and hardware solutions provider, focusing on personal safety and emergency response systems [7] - There is a strong emphasis on research and development, expanding the intellectual property portfolio, and enhancing sales and marketing efforts [7][12] - The company aims to leverage its growing patent portfolio, which includes 23 total patents, to explore licensing opportunities in the future [15][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's go-to-market strategy and operational excellence, highlighting the importance of technology solutions in addressing the caregiving gap [6][16] - The company is actively enhancing its product offerings and marketing strategies to capture a larger share of the market [12][37] Other Important Information - The company has established a partnership with Black Knight, a service-disabled, veteran-owned small business, to expand sales and marketing channels [11] - The company is focused on building a Care Village with proprietary technology to enhance quality of life [16] Q&A Session Summary Question: Insights on Freedom Alert Mini's traction and promotional activities - Management noted that the product has gained traction due to its superior features and ongoing marketing efforts, although no extraordinary promotional activities were conducted [23][24] Question: Positioning and marketing strategies for continued traction - The company is actively engaging with sales partners and enhancing marketing materials to communicate the product's unique features and competitive pricing [25][26] Question: Direct-to-consumer sales via Amazon - Management acknowledged the challenges of selling on Amazon but emphasized the importance of this channel for reaching consumers and improving sales [28][30] Question: Licensing technology from the growing IP portfolio - The company is strategically building its IP portfolio and is optimistic about future licensing opportunities, particularly in the applied AI space [32][34] Question: Feedback on the new demographic target market with Aster - Management indicated that it is still early to assess feedback but is actively gathering insights and making adjustments based on customer input [36][37]

LOUISVILLE, Ky., Nov. 12, 2024 (GLOBE NEWSWIRE) -- LogicMark, Inc. (Nasdaq: LGMK), a provider of personal safety, emergency response systems (PERS), health communications devices, and technology for the growing care and safety economy, today announced a strategic partnership with Black Knight Medical, LLC, a Service-Disabled Veteran-Owned Small Business (SDVOSB). This collaboration will enable LogicMark to leverage Black Knight Medical’s expertise in medical supply distribution and government contracting to ...

LOUISVILLE, Ky., Nov. 01, 2024 (GLOBE NEWSWIRE) -- LogicMark, Inc. (Nasdaq: LGMK), (“LogicMark” or the “Company”), a provider of personal safety, emergency response systems (PERS), health communications devices, and technology for the growing care and safety economy, today announced that it has entered into a Rights Agreement with Nevada Agency and Transfer Company (the “Rights Agreement”) to protect shareholder rights and long-term shareholder value. This decision has been taken in response to recent actio ...

LOUISVILLE, Ky., Oct. 31, 2024 (GLOBE NEWSWIRE) -- LogicMark, Inc. (NASDAQ: LGMK), a provider of emergency response systems, health communications devices, and technology for the growing personal safety and care economy, will issue a press release announcing its financial results for the third quarter ended September 30, 2024, after the market close on Tuesday, November 12, 2024. Ms. Chia-Lin Simmons, CEO, and Mr. Mark Archer, CFO, will host a live investor call and webcast the same day at 1:30 PM (PST) / 4 ...

Exhibit 99.1 LogicMark, Inc. Announces Second Quarter 2024 Financial Results Expansion Strategy into Personal Safety Markets Continues LOUISVILLE, Ky., Aug. 13, 2024 -- LogicMark, Inc.(Nasdaq: LGMK), a provider of personal safety, personal emergency response systems (PERS), health communications devices, and technology for the growing care and safety economy, today announced financial results for the quarter ended June 30, 2024. Summary: ● Revenues were $2.3 million, up slightly compared with the prior year ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of exchange on which registered Common Stock, par value $0.0001 per share LGMK Nasdaq Capital Market Emerging growth company ☐ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition p ...