Core Insights - SINTX Technologies, Inc. has announced two key executive promotions to enhance its leadership team and drive innovation in advanced materials [1][5] Group 1: Executive Promotions - Ryan Bock, PhD, has been promoted to Chief Technology Officer (CTO) and will lead the strategic development of advanced materials technologies [2][3] - Ann Kutsch has been promoted to President of SINTX Technology Assessment and Transfer (SINTX TA&T), focusing on expanding the company's intellectual property portfolio and commercialization efforts [2][4] Group 2: Company Strategy and Vision - The promotions reflect SINTX's commitment to advancing ceramic technologies to meet the growing needs of global markets [3][5] - The leadership changes come at a crucial time as the company aims to expand its global presence and enhance its portfolio of advanced materials for high-demand applications [5]

Executive Leadership Changes - Eric K Olson has been appointed as the new CEO and President of SINTX Technologies succeeding Dr B Sonny Bal who will continue as Chairman of the Board [1][2] - Mr Olson brings over 30 years of experience as a serial founder and entrepreneur in medical device diagnostic biologic and biomaterial companies including his recent role as Founder CEO and Board Member of Foresite Innovations LLC [3] - Mr Olson previously served as CEO President and Board Member of the company when it was known as Amedica Corporation and played a key role in the company's 2014 IPO and NASDAQ listing [3] Strategic Focus - The company remains focused on accelerating the development and commercialization of its technologies and seeking new opportunities to enhance shareholder value [4] Board Advisor Appointment - Gregg Honigblum has been designated as Board Advisor bringing over 35 years of experience as a financial advisor and Managing Director for FNEX Securities [5] - Mr Honigblum was responsible for raising the company's private equity funding prior to its 2014 IPO and served on the Board of Directors from 2006 to 2013 [5] Company Overview - SINTX Technologies is an advanced ceramics company specializing in materials components and technologies for medical and technical applications [6] - The company is a global leader in silicon nitride research development and manufacturing with products implanted in humans since 2008 [6] - SINTX has expanded into new markets through strategic acquisitions and alliances and operates manufacturing and R&D facilities in Utah and Maryland [6]

Core Viewpoint - SINTX Technologies, Inc. has initiated a process to explore potential strategic options aimed at maximizing shareholder value, driven by the need for additional investment and resources to support its growth in various markets [1][2]. Company Overview - SINTX Technologies is an advanced ceramics company specializing in the development and commercialization of materials, components, and technologies for medical and technical applications, particularly known for its silicon nitride products [12]. - The company has manufacturing and R&D facilities located in Salt Lake City, Utah, and Millersville, Maryland, and has been involved in the research and development of silicon nitride since 2008 [12]. Business Lines and Technologies - SINTX operates multiple business lines focused on technical materials, including FDA-approved silicon nitride ceramic spinal fusion devices and ceramic-polymer composites for medical implants [10]. - The company has unique capabilities in 3D printing technologies, including Digital Light Projection (DLP) ceramic additive manufacturing and proprietary resin formulations, which are applicable in various industrial and defense sectors [6]. - SINTX Armor, a subsidiary, is set to produce competitively priced body- and vehicle-protective armor products that have successfully undergone testing [6]. Strategic Process - The Board of Directors has not established a specific timeline for the strategic review process and will disclose further developments as deemed appropriate [7]. - Ascendiant Capital Markets, LLC has been retained as the exclusive strategic advisor to assist in this review process [11].

Core Points - SINTX Technologies has received formal notice from Nasdaq confirming compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market, closing the previously announced listing matter [1] - The company is a leader in advanced ceramics, particularly in the development and commercialization of silicon nitride for medical and technical applications, with products implanted in humans since 2008 [2] - SINTX has manufacturing facilities located in Utah and Maryland and has expanded into new markets through strategic acquisitions and alliances [2] Compliance and Monitoring - Following the compliance confirmation, SINTX will remain under a "Mandatory Panel Monitor" for one year, starting from June 11, 2024 [4] - If SINTX fails to meet the minimum $1.00 closing bid price for 30 consecutive business days within this one-year period, Nasdaq will issue a delist determination without a grace period [4]

Core Viewpoint - SINTX Technologies, Inc. has been awarded a $75,000 phase I SBIR contract by AFWERX to enhance the sinterability of complex-shaped 3D printed silicon nitride, addressing material challenges for high-temperature systems in the Department of the Air Force [1][2]. Group 1: Contract and Partnership - The contract awarded to SINTX's subsidiary, Technology Assessment and Transfer, Inc. (TA&T), is part of a 3-month initiative aimed at improving 3D printing capabilities for silicon nitride [1]. - If successful, TA&T/SINTX aims to secure a phase II contract from AFWERX worth up to $1.25 million over 21 months [2]. Group 2: Technical Focus and Market Strategy - Silicon nitride is recognized for its mechanical, thermal, and dielectric properties, making it suitable for applications in aeroengines and microwave-frequency apertures, which is a strategic focus for SINTX [3]. - The company is leveraging its expertise in ceramic 3D printing and past projects to enter the RF market, aiming to develop innovative capabilities that enhance U.S. defense [3][8]. Group 3: Industry Challenges and Expertise - The current effort addresses the challenges in producing silicon nitride parts that meet application-specific performance and repeatability, highlighting the unique technical difficulties in 3D printing this material compared to others like aluminum oxide [8]. - SINTX's extensive experience with silicon nitride and TA&T's expertise in ceramic 3D printing position the company favorably within the industry to tackle these challenges [8][13].

Core Insights - SINTX Technologies, Inc. has been awarded a $75,000 phase I Small Business Innovation Research (SBIR) contract by AFWERX to enhance the sinterability of complex-shaped 3D printed silicon nitride, addressing material challenges in high-temperature propulsion and guidance systems for the Department of the Air Force [1][7] - The company aims to leverage its extensive experience in silicon nitride manufacturing and ceramic additive manufacturing to enter the RF market, focusing on applications in aerospace and defense [2][3][8] Company Overview - SINTX Technologies is a leader in the manufacturing and supply of silicon nitride components, particularly for spinal fusion devices, and has expanded its focus to include aerospace, defense, and energy applications since 2018 [3][10] - The acquisition of Technology Assessment and Transfer, Inc. (TA&T) in 2022 has enhanced SINTX's capabilities in ceramic additive manufacturing, contributing to its strategic goals [3][10] Industry Context - Silicon nitride is recognized for its superior mechanical, thermal, and dielectric properties, making it suitable for applications in aeroengines and microwave-frequency technologies [2] - The current SBIR effort addresses the challenges of producing silicon nitride parts that meet application-specific performance and repeatability, highlighting the technical difficulties associated with 3D printing this material [8]

Core Insights - SINTX Technologies has entered a 5-year strategic agreement with Myosung Co., Ltd to expand its presence in the Korean market, focusing on technical ceramic products and services [1][2] - The partnership is expected to generate significant new business for SINTX, particularly in the medical technology sector, leveraging Myosung's established reputation and network in Korea [2] Company Overview - SINTX Technologies specializes in advanced ceramics, developing and commercializing materials for medical and technical applications, with a focus on silicon nitride [3] - The company has been a leader in the research and manufacturing of silicon nitride, with products implanted in humans since 2008 [3] - SINTX has utilized strategic acquisitions and alliances to enter new markets and has manufacturing facilities located in Utah and Maryland [3]

SALT LAKE CITY, May 23, 2024 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) today announced that its Board of Directors has declared a 1-for-200 reverse stock split of the company's common stock. The reverse stock split will become effective on May 28, 2024 (the "Effective Date") at 12:01 AM Eastern Time. The company's common stock is expected to begin trading on a split-adjusted basis when the markets open on May 28, 2024 under the current trading symbol "SINT." As a result of the reverse stoc ...

Core Points - SINTX Technologies, Inc. announced a 1-for-200 reverse stock split effective May 28, 2024, to comply with Nasdaq listing requirements [1][2] - The reverse stock split will reduce the number of issued and outstanding shares from approximately 123 million to about 0.6 million [4] - The reverse stock split will not affect the number of authorized shares or the par value of the common stock [2][3] Company Overview - SINTX Technologies specializes in advanced ceramics, focusing on materials and technologies for medical and technical applications [7] - The company is a leader in the research and manufacturing of silicon nitride, with products implanted in humans since 2008 [7] - SINTX has expanded into new markets through strategic acquisitions and alliances, with manufacturing facilities located in Utah and Maryland [7]

Revenue and Profit - For the three months ended March 31, 2024, total revenue increased by $148,000, or 27%, to $687,000 compared to $539,000 in the same period in 2023[96]. - Product revenue rose by $69,000, or 29%, to $309,000, while grant and contract revenue increased by $79,000, or 26%, to $378,000[96][97]. - Gross profit for the quarter was $464,000, reflecting a $43,000 increase, or 10%, from $421,000 in the prior year[96]. Expenses - Cost of revenue increased by $105,000, or 89%, to $223,000, primarily due to the increase in revenue[96][98]. - Research and development expenses decreased by $181,000, or 8%, to $2,019,000, attributed to lower patent and consulting costs[96][99]. - General and administrative expenses decreased by $46,000, or 4%, to $1,123,000, mainly due to reduced employee recruiting costs[96][100]. - Sales and marketing expenses decreased by $64,000, or 21%, to $246,000, primarily due to lower payroll and consulting costs[96][102]. Net Loss - The company incurred a net loss of $886,000 for the three months ended March 31, 2024, compared to a net loss of $293,000 in the same period in 2023, representing a 202% increase in loss[96][106]. Cash Flow - Net cash used in operating activities decreased to $2.7 million for the three months ended March 31, 2024, from $4.9 million in the same period of 2023, a reduction of $2.2 million[118]. - Cash provided by financing activities was $5.3 million for the three months ended March 31, 2024, down from $11.5 million in the same period of 2023, a decrease of $6.2 million[120]. - The Company reported a net increase in cash of $2.4 million for the three months ended March 31, 2024, compared to a net increase of $6.4 million in the same period of 2023[116]. Financing Activities - On March 26, 2024, the company closed a public offering of 28,400,000 shares at a price of $0.047, raising approximately $1.3 million before expenses[110]. - The Company closed a public offering of 2,150,000 units on February 10, 2023, generating gross proceeds of approximately $12.0 million[112]. - The Company allocated approximately $5.4 million of the gross proceeds from the February 2023 offering to common stock and prefunded warrants[112]. - The Company has entered into an Equity Distribution Agreement allowing for the sale of up to $1.1 million in common stock, with $1.0 million raised as of March 1, 2024[114]. Debt and Credit - As of March 31, 2024, the related party debt had an outstanding balance of $26,000, with payments scheduled to end on August 1, 2024[122]. - The Company has no outstanding balance on the Wells Fargo line of credit as of March 31, 2024, and the account has been closed[123]. Other Income - Other income decreased by $953,000, or 29%, to $2,311,000, mainly due to a decrease in non-cash derivative expense[96][104]. Off-Balance Sheet Arrangements - The Company has not made any off-balance sheet arrangements as defined in Item 303(a)(4) of Regulation S-K[124]. Rights Offering - The Company completed a rights offering on October 17, 2022, resulting in gross proceeds of approximately $4.7 million[113].