|Over a week ago|
Logiq announces digital marketing initiatives for EV charger installation » 07:4809/2009/20/22
Logiq announced that it…
Logiq announced that it has strengthened its position in the high-growth home improvement vertical arena for the electric vehicle charger installation industry. Haig Newton, President of DataLogiq, Inc., commented, "Our team recognized the growing demand as many of our construction and electrical clients were interested in gaining access to the growing EV home, multifamily and commercial charger installation marketplace. As such, we launched our on-demand digital marketing platform system to allow our clients to meet this dynamic market opportunity." Sales of electric cars doubled in 2021 to a new record of 6.6 million. That growth contributed to the total 16.5 million electric vehicles on the road in 2021, more than triple the number in 2018. Demand for charging stations continues to grow apace with EV sales, though not evenly distributed across the U.S. California leads the country in total stations available, while many southern states have far fewer stations per capita.
|Over a month ago|
Logiq sees $40M-$50M run rate by 2022 year-en » 09:3008/1208/12/22
The Company reiterates…
The Company reiterates its annualized revenue projections for fiscal 2022 to end the year in the range of a $40 million to $50 million run rate, reaching a breakeven EBITDA run rate by the end of 2022 and attaining profitability in early 2023. This forecast is based on the Company's potential deal pipeline, which originally included M&A and potential partnerships and client relationships. The Company is not currently calculating any further M&A for the year, although management is still comfortable with the aforementioned range of revenues. However, no assurances can be provided that Logiq will enter into any strategic transactions with companies in the pipeline, or that the results of any such transactions will allow the Company to reach this goal.
Logiq reports Q2 EPS (19.8c) vs. (26.8c) last year » 09:2908/1208/12/22
Reports Q2 revenue $4.9M…
Reports Q2 revenue $4.9M vs. $8.3M last year. Logiq Chief Executive Officer, Brent Suen, commented, "We are pleased with the successful spin-off of our GoLogiq business, through which we transformed our business into two standalone companies. We are confident that going forward this transaction will unlock both companies' fullest value and create enhanced returns for our shareholders. As we noted in our first quarter report, our quarterly revenue remains inconsistent, as was reflected in the second quarter. However, our commitment to executing on our strategy to pursue a higher margin business was reflected in our robust gross margin results." Mr. Suen added, "Importantly, Logiq is in a transition period in which we are shifting our resources to securing larger corporate customers, in part to capitalize on our Battle Bridge acquisition earlier this year, whose consolidation has synergistically produced a company with a broader range of services and greater depth of expertise - which we believe will enable us to bid on and win far bigger customer accounts. While those sales cycles are longer, I strongly believe that this strategy is gaining solid traction and we fully expect to report strong progress in the months ahead."
Logiq files to sell up to 6.0M shares of common stock for holders 17:0507/1807/18/22
|Over a quarter ago|
Microvast, China Automotive among new additions to SEC HFCAA provisional list » 14:0804/1204/12/22
MVST, CAAS, DQ, CNTB, OCFT, LEGN, SOHU, MSC, MLCO, LGIQ, NOAH
A number of companies…
A number of companies were added on April 12 to the Securities and Exchange Commission's provisional list of companies identified under the Holding Foreign Companies Accountable Act. The statute requires the SEC to identify public companies "that have retained a registered public accounting firm to issue an audit report where the firm has a branch or office that: (1) is located in a foreign jurisdiction, and (2) the Public Company Accounting Oversight Board has determined that it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction." Among the companies added to the list are Microvast Holdings (MVST), China Automotive Systems (CAAS), Daqo New Energy (DQ), Connect Biopharma (CNTB), OneConnect Financial (OCFT), Legend Biotech (LEGN), Sohu.com (SOHU), Studio City (MSC), Melco Resorts & Entertainment (MLCO), Logiq (LGIQ) and Noah Holdings (NOAH). Reference Link
Logiq initiated with a Buy at Mackie Research Capital » 05:4803/2903/29/22
Mackie Research Capital…
Mackie Research Capital analyst Venkata Velagapudi initiated coverage of Logiq with a Buy rating and $2.20 price target. Logiq is a digital marketing technology company. The analyst views the company's revenue growth outlook as "robust" given its exposure to the :growing segments of digital marketing value chain."
Logiq signs binding LOI to acquire Battle Bridge for $3.25M » 07:4802/1702/17/22
Logiq announced it has…
Logiq announced it has signed a binding Letter of Intent to acquire certain assets of Battle Bridge Labs, a Tulsa, Oklahoma-based digital brand marketing agency. The company said, "Battle Bridge is a rapidly growing, leading boutique provider of digital brand marketing services including pay-per-click management, social media marketing, funnel creation and optimization, SEO, web design, conversion optimization and more. It anticipates booking $3.8 million in 2022 revenue with $1.4 million in positive cash flow. It is a certified partner of Google, Shopify, bing ads, ima, and has been featured in Forbes, HuffPo, Wix.com and other leading publications." The two companies have been collaborating on projects recently, and Logiq management has been favorably impressed with Battle Bridge's management, content creation quality and operational execution. This transaction, as envisioned, is expected to bring Logiq incremental revenue and accretive earnings while synergistically increasing its content creation resource and broadening its digital marketing expertise - enabling both businesses to scale their assets and operations for accelerating growth. Under the terms of the LOI, the parties intend to complete a formal purchase agreement by the end of the current quarter. Pursuant to the LOI, Logiq intends to purchase certain assets of Battle Bridge for total consideration of $3.25 million, consisting of $250,000 of cash and the issuance of $3 million in restricted shares of Logiq common stock which will be subject to a minimum one-year lockup provision with leak-out gates in the second year. It is currently contemplated that the transaction will be structured as an asset purchase, and that certain employees of Battle Bridge will become employees of Logiq upon transaction closing. The LOI contains a "no-shop" provision, certain non-compete provisions, and certain closing conditions, including, without limitation, receipt of shareholder approval and other customary due diligence and closing conditions, with both parties paying their own legal, accounting and other transaction costs.
Logiq names Brent Suen as CEO » 19:2101/1301/13/22
Logiq announced a…
Logiq announced a restructuring of the company's senior management team to better execute on its previously announced strategic direction. Logiq Co-Founder and Executive Chairman Brent Suen has been appointed CEO, a role he previously held from 2014 to 2020. He succeeds Tom Furukawa. Chief of Staff John MacNeil has been appointed Chief Operating Officer, a role he previously held from December 2019 to November 2020. He succeeds Steven Hartman. Haig Newton, President of DataLogiq, former head of Logiq Consumer Marketing, and co-founder of Push Interactive, will lead strategy and vision.
Logiq expects Q4 revenue to total $12.3M, previous guidance exceeding $10M » 09:1601/0601/06/22
One estimate $8.8M.…
One estimate $8.8M. Revenue for the fourth quarter is expected to total a record $12.3 million, up 87% from $6.6 million in the same year-ago quarter. "Our improving revenue performance throughout 2021 demonstrates our team's commitment to driving a transformation of our business overall and providing visibility on future profitability," stated Brent Suen, president of Logiq. "As we refocused our efforts on higher quality, more profitable revenue streams and adjusted to the changing market dynamics, we also drove strong gross margin improvement every quarter of 2021. In fact, our gross margin more than doubled in Q4 2021 compared to the full year of 2020."
Logiq finalizes agreement to transfer AppLogiq assets to Lovarra » 07:4512/1612/16/21
Logiq has finalized the…
Logiq has finalized the terms of its agreement with Lovarra to transfer Logiq's AppLogiq assets into Lovarra. The agreement follows Logiq's recent acquisition of a control position in Lovarra, a fully reporting U.S. public company listed on the OTC Markets. The agreement advances Logiq's announced plans to separate its DataLogiq and AppLogiq businesses into two independent publicly traded companies. The next step will involve the transfer of AppLogiq assets into Lovarra before the end of the year. Logiq is also applying to FINRA to change the name of Lovarra to GoLogiq and obtain a new trading symbol. Logiq anticipates the name and symbol change process with FINRA will take several weeks. Logiq shareholders of record on December 30, 2021 will receive shares in Lovarra/GoLogiq on a proportionate basis when Logiq distributes 100% of its Lovarra/GoLogiq shares to these shareholders. This distribution is planned to occur on or about June 30, 2022. The AppLogiq assets includes CreateApp, the software-as-as-service platform that enables small and medium-sized businesses worldwide to create and deploy a native mobile app for their business. AppLogiq also includes platforms for mobile payments and food delivery, and the licenses of its technologies to third parties. Logiq also plans to transfer to Lovarra/GoLogiq its 31% beneficial stake in PT Weyland Indonesia Perkasa, WIP. WIP is the operator of the AtozGo(TM) food delivery service and AtozPay(TM) mobile e-wallet in Southeast Asia, which uses mobile transaction technology licensed from Logiq. The transfer of WIP is subject to the completion of related financial statements and customary conditions and approvals, which is expected to be completed by February 2022. Lovarra/GoLogiq plans to acquire the remaining 69% stake in WIP within the same timeframe.