NEW YORK, NY / ACCESSWIRE / December 14, 2015 / SeeThruEquity, a leading New York City based independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued a company note on COPsync, Inc. (NASDAQ: COYN), a company that operates the largest law enforcement mobile data information system and interoperability network in the U.S. and sells a unique real-time threat alert system for schools and other at-risk facilities that connects facilities under threat to the nearest law enforcement patrol units and the local dispatch center in seconds.
The note is available here: COYN December 2015 Update Note. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will be available on these platforms. The firm also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
"We were impressed to see that COPsync completed a $10.6mn equity financing on November 12, 2015. In our view, the equity raise is a key milestone and significant strategic accomplishment by the COPsync management team, as it helped the company uplist to the NASDAQ, solidifies COPsync's balance sheet and fully funds its 2015 and 2016 growth plans. Maxim Group LLC and Aegis Capital Corp acted as co-book runners for the raise, which consisted of 3,028,572 common units, with each unit including one shares priced at $3.49, and one warrant priced at $0.01. The warrants have a five year term and a per share exercise price of $3.125," commented Ajay Tandon, CEO of SeeThruEquity. "We are updating our price target of $8.73 per share."
Highlights of note are as follows:
- Recently, COPsync announced that its common stock and warrants will be listed for trading on the NASDAQ Stock Market, under the tickers COYN / COYNW, effective November 13, 2015.
- The company also announced a new $10.6mn equity financing that should provide ample capital for COPsync to pursue its growth plans in 2016E and 2017E.
- COYN released 3Q15 results on November 16, 2015, which included new bookings of $1.74mn, the company's best quarter of new bookings since 2013.
- We are updating our target price for COYN to $8.73 to reflect the raise as well as the recent 1:50 reverse split.
Uplisting to NASDAQ puts COYN in the right place
We were pleased to see COPsync successfully complete the up-listing process to the NASDAQ on November 13, 2015. This is a significant accomplishment – and one that the company has been pursuing for some time, as we highlighted in our recent coverage of the company. Given its technology focus, high growth profile, and unique market opportunity, we see the NASDAQ as a good fit for COPsync. We would expect the up-listing to increase liquidity in COPsync shares, open access to institutions which could not invest in over the counter markets, and raise the company's profile in both its industry and the investing community.
Strong booking outlook from COPsync
Our conversations with management pointed to an optimistic outlook for COPsync as the company adds to its sales team, expands its market verticals, and the applications of e911. The company reported strong bookings in 3Q15 of $1.74mn, up sequentially form $1.45mn in 2Q15 and the highest quarterly bookings since 2013. Bookings are a key gauge of demand for COPsync as it continues to build recurring software and services revenues.
Updating price target to $8.73
In light of recent results, as well as the company's recent capital raise, reverse split, and NASDAQ listing, we are updating our price target for COPsync to $8.73.
Please review important disclosures at www.seethruequity.com.
About COPsync, Inc.
COPsync, Inc. operates the largest law enforcement mobile data information system and interoperability network in the U.S. The COPsync Network enables officers to report and share actionable, mission-critical data and communicate in real-time and collect for outstanding misdemeanor warrants in real-time at the point of incident. Officers are also able to obtain instant access to local, state and federal law enforcement databases. The Network's companion COPsync911 system enables campuses, government buildings, energy, telecommunications and other potentially at-risk facilities to automatically and silently send threat alerts directly to local law enforcement officers in their patrol cars and local dispatch in the event of crisis, thereby protecting schools, school children and others. The COPsync Network also eliminates manual processes and increases officer productivity by enabling officers to electronically write tickets, accident reports, DUI forms, arrest forms and incident and offense reports. The COPsync Network saves lives, reduces unsolved crimes and assists in apprehending criminals and interdicting criminal behavior -- through such features as a nationwide officer safety alert system, GPS/auto vehicle location and distance-based alerts for crimes in progress, such as school crisis situations, child abductions, bank robberies and police pursuits. The company also sells VidTac(R), an in-vehicle, software-driven video system for law enforcement.
For more information, visit www.copsync.com and www.copsync911.com.
About SeeThruEquity
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zack's, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
Contact:
Ajay Tandon
SeeThruEquity
info@seethruequity.com
SOURCE: SeeThruEquity