Core Points - Algorhythm Holdings, Inc. announced a reverse stock split with a ratio of one-for-two-hundred (1:200) effective February 10, 2025, to comply with Nasdaq's minimum bid price requirement of $1.00 [2][4] - The reverse stock split will affect all issued and outstanding shares of the Common Stock, including those under equity incentive plans, and will not change stockholders' percentage interest in the Company’s equity, except for fractional shares [3][5] - Algorhythm Holdings operates two primary investments: SemiCab Holdings, a leader in AI-enabled global logistics, and The Singing Machine Company, a leader in consumer karaoke products [6][9] Algorhythm Holdings Overview - The Company is focused on AI technology and consumer electronics, with SemiCab providing a cloud-based platform that optimizes logistics and reduces costs for shippers and carriers [7][8] - SemiCab's technology has the potential to save shippers tens of billions of dollars annually and improve truck utilization rates from 65% to over 90%, significantly reducing the carbon footprint of the logistics industry [8] - The Singing Machine Company offers a wide range of karaoke products and is developing an integrated in-car karaoke system, with products available in over 25,000 locations worldwide [9]

Company Overview - Algorhythm Holdings is an AI technology and consumer electronics holding company with two primary investments: SemiCab Holdings and The Singing Machine Company [14] - The Singing Machine Company is the worldwide leader in consumer karaoke products, with a portfolio marketed under proprietary brands and popular licenses such as Carpool Karaoke and Sesame Street [9] - The Singing Machine Company designs and distributes at-home and in-car karaoke entertainment products, providing access to over 100,000 songs for streaming through its mobile app and WiFi-capable products [9] - The company has a philanthropic initiative, CARE-eoke by Singing Machine, focusing on the social impact of karaoke for children and adults [9] Partnership and Product Development - The Singing Machine has partnered with BYD Automotive to co-develop new karaoke microphones, which will be manufactured by BYD Electronics, a Tier-1 supplier to the automotive industry [3] - The partnership with BYD has resulted in innovative features such as karaoke gaming, scoring, and live pitch correction, which will be showcased at CES 2025 [2] - The company is targeting additional automotive OEMs and connected TV manufacturers for integration of its karaoke microphones into their vehicles and devices [2] - The Singing Machine's microphones are designed for close integration with karaoke content provided by Stingray, a leading music, media, and technology company [6] Product Features and Market Potential - The Singing Machine's new karaoke microphones include proprietary technological features such as real-time pitch detection, studio-quality pitch correction, and vocal enhancements [7] - The microphones are capable of customization and integration with OEM automotive and television brands, offering a scalable product category with better gross margins and a technology moat [7] - Stingray's Automotive Karaoke App includes over 100,000 licensed songs across various genres, with real-time vocal scoring technology and adaptive visual feedback [7] - Safety features include syncing scrolling lyrics on mobile devices via the Passenger App when the vehicle is in motion [7] CES 2025 and Future Plans - The Singing Machine will attend CES 2025 to showcase its next-generation karaoke microphone developed for global automotive manufacturers and television brands [12] - The company anticipates leveraging its partnership with BYD to accelerate previous partnership and joint marketing opportunities [12] - Initial orders for the new karaoke microphones are being delivered to Brazil and Europe markets, with plans to expand into more models and geographies in 2025 [13] SemiCab Overview - SemiCab is a cloud-based Collaborative Transportation Platform that uses AI/ML predictions and advanced predictive optimization models to optimize trucking logistics [8] - The platform has enabled major retailers, brands, and transportation providers to address supply-chain problems globally, increasing transportation capacity and improving asset utilization [15] - SemiCab's technology has the potential to save shippers tens of billions of dollars annually and reduce CO2 emissions attributable to road freight by approximately 25% [15]

Company Overview - Algorhythm Holdings, Inc. is a holding company with two primary investments: SemiCab Holdings, an emerging leader in the AI-enabled global logistics industry, and The Singing Machine Company, the worldwide leader in the consumer karaoke industry [7]. SemiCab Holdings - SemiCab has developed an AI model called Orchestrated Collaboration™ that enhances transportation capacity, improves asset utilization, reduces empty miles, lowers logistics costs, and provides visibility into the transportation network [2]. - The technology has the potential to save shippers tens of billions of dollars annually through optimization and can improve truck utilization rates from 65% to over 90%, significantly reducing the carbon footprint of the industry [2]. - By optimizing existing truck utilization, SemiCab can add approximately 30% more trucking capacity without increasing the number of trucks, drivers, or driven miles, addressing issues like driver shortages and road congestion [2]. - Trucking optimization could potentially eliminate around 25% of CO2 emissions associated with road freight [2]. - SemiCab operates a cloud-based Collaborative Transportation Platform that utilizes real-time data and AI/ML predictions to optimize freight movement [10]. The Singing Machine Company - The Singing Machine Company is recognized as the global leader in consumer karaoke products, offering a wide range of at-home and in-car karaoke entertainment products [5]. - The company markets its products under proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street, and provides access to over 100,000 songs through its mobile app [5]. - Singing Machine products are available in over 25,000 locations worldwide, including major retailers like Amazon, Costco, and Walmart [5]. Financial Position and Future Outlook - Algorhythm announced a pause on new capital raising activities for the next six months due to its current cash position and market assessment [9]. - The company has sufficient working capital to meet customer demand and aims to utilize its AI software platform to optimize freight movement and reduce empty trucking miles [9].

Core Summary - Univest Securities, LLC successfully closed a registered direct offering of approximately $2 million for its client Algorhythm Holdings, Inc [1][3] - Algorhythm Holdings, Inc is an AI-driven technology and consumer electronics holding company listed on NASDAQ under the ticker RIME [1][8] Offering Details - Algorhythm Holdings, Inc agreed to sell 24,067,388 shares of common stock at $0.0831 per share in a registered direct offering priced at-the-market under Nasdaq rules [2] - The aggregate gross proceeds from the offering amounted to approximately $2 million [3] - Univest Securities, LLC acted as the sole placement agent for the offering [4] Regulatory Information - The securities were offered pursuant to a registration statement on Form S-3 (File No 333-269183) previously filed and declared effective by the SEC on January 20, 2023 [5] - Final prospectus supplement and accompanying prospectus describing the terms of the offering were filed with the SEC and are available on the SEC's website [5] Company Profiles - Univest Securities, LLC is a full-service investment bank and securities broker-dealer firm based in New York, providing financial services including brokerage, investment banking, and wealth management [7] - Algorhythm Holdings, Inc is a leader in applying AI to key industries, driving change and unlocking new efficiencies through AI-driven solutions [8]

Core Viewpoint - Algorhythm Holdings, Inc. announced that its subsidiary, SemiCab, has secured a pilot program with a major global consumer packaged goods producer, marking a significant milestone in the rapidly growing Indian market [2][4]. Group 1: Company Overview - Algorhythm Holdings, Inc. operates as a holding company with two main investments: SemiCab Holdings, which focuses on AI-enabled logistics, and The Singing Machine Company, a leader in consumer karaoke products [5]. - SemiCab is a cloud-based Collaborative Transportation Platform designed to optimize logistics by predicting and managing millions of loads and trucks [6]. Group 2: Pilot Program Details - The pilot program, initiated in late October, will focus on the southwestern India commercial corridor and aims to provide enterprise-level software services to SMCB Solutions Private Limited [2][3]. - SemiCab India will handle cargo for the new client, offering scalable lane services without financial or geographical limitations, contingent on mutual consent [3]. Group 3: Market Impact and Future Potential - The CEO of Algorhythm highlighted the significance of this partnership, noting it as the tenth collaboration with the National Digital Freight Exchange, indicating strong market interest [4]. - The pilot relationships are expected to scale significantly within 12 months, with the potential for substantial cost savings and operational efficiencies for clients [4]. - SemiCab's technology has demonstrated the ability to improve truck utilization rates from 65% to over 90%, potentially saving shippers tens of billions of dollars annually and significantly reducing CO2 emissions from road freight [7].

SemiCab India Acquires New Client for Pilot Program Fort Lauderdale, FL, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (NASDAQ: RIME) (“Algorhythm” or the “Company”), an AI technology and consumer electronics holding company, today announced that its subsidiary, SemiCab Holdings, LLC (“SemiCab”), has been awarded a commercially scalable pilot program with the world’s sixth-largest global consumer packaged goods (CPG) producer. The new freight business, launched as a proof-of-concept initiativ ...

Fort Lauderdale, FL, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (Nasdaq: RIME) (“Algorhythm” or the “Company”), an AI-driven technology and consumer electronics holding company today announced that it has entered into a definitive agreement with several investors for the purchase and sale of an aggregate of 24,067,388 of the Company’s common stock, par value $0.01 per share (the “Common Stock”) at a purchase price of 0.0831 per share in a registered direct offering priced at-the-market unde ...

Fort Lauderdale, FL, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm” or the “Company”) (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, announced it has priced a public offering with gross proceeds to the Company expected to be approximately $9.5 million, before deducting placement agent fees and other estimated expenses payable by the Company. The offering is comprised of 55,882,353 shares of the Company’s common stock (or pre-funded warrants in li ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number: 001-41405 ALGORHYTHM HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 95-3795478 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ 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 period from ___________ to ________________________ Commission File Number: 001-41405 THE SINGING MACHINE COMPANY, INC. (Exact name of registrant as specified in its charter) Delaware ...