VANCOUVER, British Columbia, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW) (“Siyata” or the “Company”), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announced that it’s publishing the following Thanksgiving Message from Marc Seelenfreund, CEO of Siyata.
Dear Siyata Mobile family,
As we celebrate Thanksgiving in the US, it’s time to pause and reflect on everything that we have to be thankful for.
I would like to start by personally thanking our stakeholders and my fellow Siyata team members, for your support, as we develop exciting new sales verticals, deliver record operating performance, and position the Company for future success. Thanks to our team members, Siyata has never been on more solid footing and I’m delighted about our future growth opportunities.
As you know, Thanksgiving is also a time to serve others, so I'd like to express my gratitude to the first responder, medical, security, and defense communities around the world. They are a special breed who have dedicated their lives to serving others and their heroics make our planet a better place.
We are committed to providing these growing rapidly communities with superior communication tools, at competitive prices, and we believe we are on the cusp of some potentially business-changing developments.
Siyata’s vertical strategy includes expanding our sales network and product lines. Our goal of reaching profitability in the upcoming quarters is powered by the transition from nonstock to stock status with one of the top three domestic carriers, an achievement that most devices do not attain. To this end, our products are now carried by all the major US cellphone carriers and our international footprint is growing. In fact, Siyata is the smallest company, by far, that will have a stocked device at a major mobile carrier and the benefits are massive.
Until recently, our products were ordered through the carriers and the purchaser had to pay full price up front for the delivery of our first responder equipment, putting us at a price disadvantage in a highly competitive market. The SD7 handset will move from a device with a $400 MSRP to becoming a cobranded device that benefits from the carrier’s subsidization program, where the unit only runs 99-cents upfront, with the balance factored into the monthly bill. Plus, our sales team is training that carrier’s sales force about our Push-to-talk (PTT) unit.
We plan to garner additional support from our carrier partners and bring what we believe are the most rugged, reliable first responder communications products in the world today. Our goal is to be boxed and stocked by all the carriers at some point, which should greatly increase our sales directly from the carriers and expand our agency and business-to-business sales.
In addition, it will make it much easier for the launch of our upcoming SD7+ which is our all-in-one bodycam push to talk communicator to gain sales traction after its upcoming 2024 launch.
Our success created some growing pains this year, as is often the case for companies undergoing rapid growth, and the company raised capital to help facilitate increasing upcoming orders. We currently pay for all of our inventory upfront and our capital needs increased with these orders. Our number one goal is to be cashflow positive by mid-2024 and we will have created significant shareholder value along the way.
We have multiple catalysts that we believe will help achieve our long-term approach to building shareholder equity.
1. Continued increase in US and International orders for our equipment.
2. Siyata Real Time View and SD7+ will open up to more first responder markets.
3. We hope to secure purchase order financing to facilitate our inventory needs going forward.
4. We hope to increase our partnerships with the largest carriers, transitioning all of them to cobrand Siyata Mobile products.
5. We hope to increase our sales and strategic relationships to continue bringing the best first responder communications devices in the world to the market.
We believe these catalysts are crucial to our upcoming success and future shareholder value. We will continue to do what’s best for the company, while delivering on our core executables so we can continue our growth strategy deliver for our customers and stakeholders.
I’m thankful to be working for you and want to thank you for being part of this journey with us. It’s an honor to be part of this dedicated team; we have great plans for the year ahead and are optimistically looking forward to a prosperous 2024.
I hope that your Thanksgiving Holiday is filled with life’s blessings and the everlasting joy of spending quality time with our loved ones. May this season bring you peace, joy, health, and happiness throughout the coming year.
Sincerely,
Marc Seelenfreund, Siyata Mobile CEO
About Siyata Mobile
Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.
In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.
Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.
Siyata’s common shares trade on the Nasdaq under the symbol “SYTA” and its previously issued warrants trade on the Nasdaq under the symbol “SYTAW.”
Visit siyatamobile.com and unidencellular.com to learn more.
Investor Relations (Canada):
Kin Communications
1-866-684-6730
SYTA@kincommunications.com
Investor Relations (United States):
Brett Maas
Hayden IR
SYTA@Haydenir.com
646-536-7331
Siyata Mobile Corporate:
Glenn Kennedy, VP of International Sales
Siyata Mobile Inc.
glenn@siyata.net
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Siyata’s filings with the Securities and Exchange Commission (“SEC”), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release.
