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DENVER - Oblong Inc. (NASDAQ:OBLG), a micro-cap technology company with a market capitalization of $5.57 million, has appointed Siam Kidd as the inaugural member of its newly formed Advisory Committee, according to a company press release issued Tuesday. The announcement comes as the stock shows significant volatility, having declined 8% in the past week according to InvestingPro data. Kidd, who serves as Co-Founder and Chief Investment Officer of DSV Fund, will provide guidance on Oblong’s treasury investments in Bittensor ($TAO).
Kidd brings over 21 years of financial market experience to the role, including expertise in mergers and acquisitions and hedge fund management. At DSV Fund, which focuses exclusively on Bittensor investments, he has developed institutional-grade strategies for decentralized AI investments. This appointment comes as Oblong maintains a strong liquidity position, with InvestingPro data showing a healthy current ratio of 3.38 and more cash than debt on its balance sheet.
"Decentralized AI is reshaping the future of technology, and Bittensor is at the forefront of this revolution," Kidd stated in the release.
The Advisory Committee will focus on optimizing Oblong’s treasury strategy, identifying investment opportunities in development teams on the Bittensor platform, and developing partnerships within the decentralized AI space.
Oblong CEO Pete Holst said Kidd’s "proven track record in leveraging Bittensor’s ecosystem will guide our $TAO treasury strategy."
According to the company, Bittensor’s subnet ecosystem currently processes over 50 million daily AI inferences with a combined subnet market capitalization approaching $1 billion.
Oblong is actively seeking additional experts in AI, blockchain, and finance to expand its Advisory Committee. The company describes itself as building a cryptocurrency treasury focused on decentralized artificial intelligence through the acquisition of $TAO, while also maintaining its video collaboration and network solutions business. With revenue of $2.37 million in the last twelve months and current metrics suggesting the stock is undervalued, investors seeking detailed analysis can access 12 additional key insights through InvestingPro’s comprehensive company analysis.
In other recent news, Oblong, Inc. has made a significant move by acquiring 5,025 TAO tokens for $1.65 million, using funds from its recent $7.5 million financing. This acquisition marks Oblong’s first major step in its strategic shift towards decentralized artificial intelligence, as the company has fully staked the tokens in the Bittensor network, a platform for machine learning and AI development. The purchase is part of Oblong’s broader strategy to invest in AI-driven digital assets, following its announcement of entering the AI sector. The $7.5 million was raised through a private placement of common stock, which is expected to close in June 2025. This capital will support Oblong’s venture into permissionless intelligence infrastructure, funding cryptocurrency treasury, software development, and token-based revenue streams. CEO Peter Holst emphasized the company’s 25-year experience in scaling technology businesses as a critical foundation for its success in this new venture. These developments highlight Oblong’s commitment to advancing its capabilities in the AI and digital infrastructure space.
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