Gorilla(US:GRRR) Newsfileยท2025-01-13 13:00Core Viewpoint - Gorilla Technology Group Inc. is addressing shareholder concerns regarding stock fluctuations by emphasizing its strong financial position and commitment to sustainable growth and long-term value creation [1][2]. Financial Position and Buyback Program - The board of directors approved an increase in the share buyback program from $6 million to $10 million, indicating that the current share price does not reflect the company's intrinsic value [3]. - The company has utilized $3.8 million of the buyback allocation for share repurchases and plans to expand the program to open-market purchases after the 2024 fiscal earnings release [4]. Market Clarifications - The updated share count of 18,464,651 shares outstanding follows the conversion of preferred shares and warrant exercises, which do not indicate new equity issuance or additional dilution [5]. - Claims of reliance on a single contract are false; the company has diversified its pipeline and secured multiple contracts beyond the MENA project [5]. - The company has over $30 million in outstanding invoices to government customers and expects to receive over $50 million in payments by the end of Q1 2025 [6]. Strategic Growth and Partnerships - Gorilla is entering 2025 with a $93 million backlog of signed contracts and a pipeline exceeding $2 billion in project opportunities [10]. - Recent partnerships include a memorandum of understanding to transform Santa Marta into an AI-powered smart city, showcasing the company's leadership in urban innovation [10]. - The opening of a Seattle office marks a significant expansion into the U.S. market, with ongoing negotiations for a significant contract [11]. Commitment to Shareholders - The company is dedicated to maintaining transparent communication with shareholders and is focused on delivering results that reinforce investment value [2][12]. - The management team is committed to protecting shareholder interests and ensuring long-term value creation [12][13].