Brett Moyer, the Chief Executive Officer of WiSA Technologies, Inc. (NASDAQ:WISA), a micro-cap technology company currently valued at $17.7 million, recently sold shares of the company’s common stock. According to InvestingPro data, while WISA shares have shown strong momentum with a nearly 20% gain over the past week, the stock is trading near its Fair Value. According to a filing with the Securities and Exchange Commission, Moyer sold 6,553 shares on December 23, 2024, at an average price of $1.7851 per share, totaling approximately $11,697. This transaction was conducted to satisfy tax obligations related to the vesting of equity awards. Following this sale, Moyer retains direct ownership of 243,295 shares in the company. InvestingPro subscribers have access to 14 additional investment tips for WISA, including insights about the company’s cash position and financial health metrics.
In other recent news, WiSA Technologies has announced a series of strategic moves. The company has revealed a definitive agreement to acquire CompuSystems, Inc. (CSI), a service provider for live event management, in a bid to enhance its offerings. The acquisition is expected to contribute significantly to WiSA’s revenue and EBITDA by 2025. Furthermore, WiSA’s shareholders have approved the acquisition of intellectual property and technology assets from Data Vault Holdings Inc. This acquisition will lead to the company’s rebranding as Datavault Inc., shifting its focus to data technology and licensing.
In addition to these acquisitions, WiSA Technologies has reported a substantial increase in Q3 revenues, reaching $1.2 million, a 240% rise from the previous year. This growth was attributed to improved gross margins and a shift towards direct-to-consumer sales. The company also reduced its inventory by 17%, ending the quarter with a robust cash position of $3.9 million.
In management changes, WiSA confirmed the resignation of Mr. Gary Williams, with Mr. Stanley Mbugua succeeding him as the new Chief Accounting Officer. The company also extended the warrant exercise period, a strategic move to encourage warrant holders to participate in the exercise process, potentially increasing the company’s equity base.
These recent developments underscore WiSA Technologies’ strategic pivot towards direct-to-consumer sales and innovative data technologies. The integration of WiSA’s audio technologies with Data Vault’s blockchain and AI capabilities targets high-growth markets, promising to bolster its market presence and revenue streams.
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