Core Achievements - Siyata Mobile has secured stocked status with three of the top four major U.S. carriers, marking it as the smallest device manufacturer to achieve this milestone, which required over $20 million in investments from 2020 to 2024 [4][5] - The company has established a partnership with T-Mobile, where its SD7 Ultra series 5G MCPTT cellular radio handsets are integral to T-Mobile's T-Priority 5G First Responder initiative, enhancing communication for public safety officials [7][8] Strategic Partnerships - Siyata entered a development agreement with a Fortune 100 U.S.-based telecom company, which includes potential milestone payments of up to $1 million throughout 2025 for the design of a unique MCPTT portable device, set for commercial launch in Q1 2026 [6] - The partnership with T-Mobile not only validates Siyata's technological capabilities but also opens significant distribution channels, positioning the company to capture a larger share of the $7 billion PoC market transitioning from land mobile radios to cellular solutions [5][8] Market Expansion - Siyata's merger with Core Gaming, valued at $160 million, is expected to diversify its portfolio into the $126 billion mobile gaming market, with a special stock dividend ensuring legacy shareholders retain at least 10% ownership [9]

Financial Performance - Revenues for 2024 were $11,629,572, a 41.3% increase from $8,233,301 in 2023, primarily driven by a 73.6% increase in rugged device sales [555]. - Gross margin decreased to $2,142,407 (18.4% of sales) in 2024 from $2,657,929 (32.3% of sales) in 2023, a reduction of $515,522 [555]. - Net loss for 2024 was $25,270,714, compared to a net loss of $12,931,794 in 2023, indicating a significant increase in losses [573]. - Adjusted EBITDA for 2024 was negative $14,759,624, worsening from negative $7,836,798 in 2023, a decrease of $6,422,826 [574]. - Cash balance as of December 31, 2024, was $181,730, down from a deficit of $898,771 in 2023, with an accumulated deficit of $116,021,171 [575]. - Net cash flows used in operating activities for 2024 were negative $15,083,655, an increase in cash used of $6,740,895 compared to 2023 [576]. - Net cash flows from financing activities increased to $17,724,129 in 2024 from $9,602,586 in 2023, an increase of $8,121,543 [579]. Shareholder Transactions - For the year ended December 31, 2024, the total common share transactions amounted to 784,564 shares, generating proceeds of $19,201,346 [589]. - As of January 1, 2025, the Company had an opening balance of 787,733 common shares valued at $104,916,071, with a total of 3,486,519 common shares outstanding at the date of the MD&A [591]. - The Company issued 2,643,554 common shares under the Equity Line of credit from January 1, 2025, generating net proceeds of $6,139,092 [591]. - The Company completed a registered offering for an equity line of credit of up to $18,000,000 on January 14, 2025, representing approximately 2,739,296 common shares [591]. - A total of 1,690,000 common shares have been issued under the put agreement, generating net proceeds of $4,062,372 [641]. - The Company redeemed 163 Class C preferred shares for cash totaling $163,000 on February 2025 [641]. Customer Concentration - Approximately 64% of the Company's revenue for the year ended December 31, 2024, was attributable to sales transactions with a single customer, up from 26% in 2023 [609]. Expenses and Costs - Development expenses rose to $625,023 in 2024 from $578,356 in 2023, an increase of $46,667 due to higher intangible costs [557]. - The Company has recognized a total compensation of $1,659,264 for key management personnel for the year ended December 31, 2024 [634]. - The Company assesses impairment of non-financial assets at each reporting date, evaluating conditions that may lead to asset impairment [632]. Mergers and Acquisitions - The merger agreement with Core Gaming Inc. is expected to close in Q2 2025, aimed at enhancing market presence [559]. - A merger agreement was entered into with Core Gaming, Inc., where Core Gaming shareholders will own approximately 90% of the merged entity [644]. - The merger will involve an exchange ratio calculated based on $160,000,000 divided by the volume-weighted average closing price of the Company's common shares [645]. - The Company acquired Clear RF LLC for a total purchase price of $700,000, satisfied by approximately $389,970 in Common Shares and $310,030 in cash [623]. Agreements and Licensing - The Uniden Agreement provides the Company with exclusive rights to use the "Uniden®" trademark, with minimum annual payments of $200,000 in 2023-2025, increasing to $300,000 from 2029-2031 [626]. - The Company has entered into two patent licensing agreements with Via Licensing Corporation, with no minimum royalty fees payable [627]. - The Wilson Agreement requires the Company to pay a royalty of 4.5% of sales of booster products, payable quarterly [628]. Risk Management - Approximately 8% and 16% of the Company's expenses are denominated in CAD$ and NIS, respectively, exposing it to foreign currency exchange risks [799]. - Changes of 5% and 10% in the CAD$/US$ exchange rate would have impacted operating expenses by approximately 0.5% and 1%, respectively, in 2024 [799]. - The Company partially hedges foreign currency exchange rate risk by purchasing in US$ from Asian suppliers, with the majority of sales also in US$ [800]. - The Company currently has no off-balance sheet arrangements [647]. Liquidity and Cash Management - The Company ensures sufficient liquidity to meet its obligations, maintaining cash for operational needs for a period of 90 days [615]. - The Company utilizes activity-based costing to monitor cash flow requirements and optimize cash return on investments [615]. - The fair values of the Company's cash and receivables approximate their carrying values, indicating low credit risk associated with cash balances [607].

Core Insights - Siyata Mobile Inc. will deploy its SD7 handsets for mission-critical communications during the 2025 Baker To Vegas Challenge Cup Relay, the world's largest law enforcement relay race [1][2][3] - The event is scheduled for April 5 and 6, 2025, marking its 40th annual running, with over 10,000 participants expected [2] Company Overview - Siyata Mobile Inc. specializes in developing and selling Push-to-Talk over Cellular (PoC) handsets and accessories, primarily targeting first responders and enterprise workers [4][5] - The SD7 devices are designed for performance in rugged terrains, making them suitable for the challenging conditions of the relay race [3] - The company emphasizes its commitment to public safety professionals and aims to enhance situational awareness and save lives through its communication solutions [4] Partnerships and Collaborations - Siyata collaborates with Verizon Frontline, which has a long-standing commitment to supporting law enforcement and first responders, to ensure effective communication during the event [3] - The partnership highlights the importance of delivering mission-critical communications over reliable networks [3]

Core Viewpoint - Siyata Mobile Inc. is focusing on its merger with Core Gaming, which is expected to create new growth opportunities and enhance shareholder value [2] Financial Highlights - For Q4 2024, Siyata reported revenues of $1.5 million, a decrease of 20.3% from $1.9 million in Q4 2023 [5] - The net loss for Q4 2024 was $8.9 million, compared to a net loss of $3.9 million in the same period last year [5] - For the full year 2024, revenues increased by 41% to $11.6 million from $8.2 million in 2023 [5] - The net loss for the full year 2024 was $25.3 million, compared to a net loss of $12.9 million in 2023 [5] Liquidity and Capital Resources - As of December 31, 2024, the company had a cash balance of $0.2 million, down from $0.9 million as of December 31, 2023 [2] Upcoming Events - Siyata will present its growth strategy at the AI & Technology Virtual Investor Conference on April 3, 2025, where Core Gaming's CEO will also present [1][3] Company Overview - Siyata Mobile Inc. specializes in Push-to-Talk over Cellular handsets and accessories, serving various sectors including emergency services and enterprises [4][7] - Core Gaming, the company Siyata is merging with, is an AI-driven mobile games developer with a significant global presence [8]

Core Company Announcement - Siyata Mobile Inc. plans to release its financial results for Q4 and full-year 2024 on March 31, 2025, after market close [1] - The company will not host a conference call for the financial results due to a definitive merger agreement with Core Gaming, Inc. [1][4] - Investors are encouraged to attend the AI & Technology Virtual Investor Conference on April 3, 2025, where Core Gaming's CEO will present the growth strategy [1][2] Core Gaming Overview - Core Gaming, Inc. is a global AI-driven mobile gaming developer and publisher based in Miami, Florida [3] - The company has developed over 2,000 games, achieved over 600 million downloads, and has a user base exceeding 40 million across more than 140 countries [3] Merger Details - The merger agreement between Core Gaming and Siyata Mobile is subject to regulatory approvals and customary closing conditions [4]

VANCOUVER, British Columbia, March 27, 2025 (GLOBE NEWSWIRE) -- Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW)) ("Siyata" or the "Company"), announced today that Aitan Zacharin, CEO of Core Gaming, Inc. ("Core Gaming") who it recently signed a definitive merger agreement with, will present live at the AI & Technology Virtual Investor Conference hosted by VirtualInvestorConferences.com on April 3, 2025. Date: Thursday, April 3, 2025 Time: 10:30 – 11 am ETLink: Register HereAvailable for 1x1 meetings April 3rd This ...

Group 1 - Siyata Mobile Inc. announced a definitive merger agreement with Core Gaming, which has now entered into a collaboration with Fire Rhino Studios for a research and development initiative in the casual gaming market [1][5]. - Core Gaming specializes in AI-driven mobile gaming and has developed over 2,000 games, achieving over 600 million downloads and a user base of over 40 million across more than 140 countries [4]. - Fire Rhino Studios is recognized for its success in casual puzzle games, particularly in card and sorting games, with notable titles such as Solitaire Aces and Block Sort Temple [2]. Group 2 - Aitan Zacharin, CEO of Core Gaming, expressed enthusiasm about the partnership with Fire Rhino, emphasizing the goal to create engaging and thought-provoking gaming experiences that combine fun gameplay with strategic depth [3].

Core Viewpoint - Siyata Mobile Inc. is set to merge with Core Gaming, with the transaction expected to complete in Q2 2025, pending regulatory approval and customary closing conditions [3] Company Overview - Siyata Mobile Inc. is a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, primarily serving first responders and enterprise workers [5][6] - Core Gaming is an international AI-driven mobile games developer and publisher, having developed over 2,000 games and achieving over 600 million downloads globally [3] Merger Details - The merger consideration for acquiring Core Gaming is valued at $160 million, confirmed as fair by ValueScope, LLC [7] - Legacy Siyata shareholders will receive a special one-time stock dividend, ensuring they own at least 10% of the combined entity's outstanding shares post-merger [7]

Core Viewpoint - Siyata Mobile Inc. has signed a definitive merger agreement with Core Gaming, a global gaming developer with approximately $80 million in revenues for 2024, which is expected to unlock value for Siyata's shareholders [1][3][6] Merger Highlights - The merger is valued at approximately $160 million, providing Siyata shareholders with a premium to the current market valuation [3][6] - Core Gaming operates in the mobile gaming industry, which is projected to grow significantly, positioning the combined entity for rapid growth [3][5] - The transaction is expected to be completed in the second quarter of 2025, pending regulatory approval [8] Core Gaming's Business Profile - Core Gaming has developed over 2,000 casual mobile games, engaging 40 million monthly active users and achieving over 600 million downloads [7][10] - The company utilizes unique algorithm-driven technology and AI tools, resulting in a 50% boost in content production and a reduction in production time by over 40% [7][10] - Core Gaming's unaudited gross revenues for fiscal year 2024 were approximately $80 million [7] Leadership and Structure - Aitan Zacharin, CEO of Core Gaming, will lead the combined public company, while Marc Seelenfreund will serve as President and lead a new Push-To-Talk subsidiary [6][8] - The Board of Directors will include Marc Seelenfreund and four directors designated by Core Gaming [6]

Core Insights - Siyata Mobile Inc. announced that its SD7 Ultra device was highlighted in a T-Mobile press release, showcasing T-Mobile's enhanced support for first responders [1][3] - The SD7 Ultra is the first land mobile radio replacement in the U.S. that offers mission-critical push-to-talk capabilities on 5G, aimed at improving emergency response times [3] Company Overview - Siyata Mobile Inc. is a global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories, primarily serving first responders and enterprise workers [4] - The company's products are designed to enhance communication over nationwide cellular networks, thereby increasing situational awareness and saving lives [4] Product Offerings - The SD7 Ultra and the ULTRA series cellular radio handsets provide reliable nationwide radio communications through T-Mobile's direct connect platform [3] - Siyata also offers enterprise-grade in-vehicle solutions and cellular booster systems to ensure effective communication in vehicles and areas with weak cellular signals [5] Market Presence - Siyata sells its products through leading North American cellular carriers and international distributors, indicating a broad market reach [5] - The company's common shares are traded on Nasdaq under the symbol "SYTA" [6]