BOS Solutions mourns loss of chairman Ziv Dekel

B.O.S. Better Online Solutions Ltd., a provider of computer communications equipment based in Rishon LeZion, Israel, announced today the passing of its Chairman, Ziv Dekel. The company, which operates under the name 06 Technology and is incorporated in L3, disclosed the news through a Form 6-K filing with the U.S. Securities and Exchange Commission (SEC).

The announcement comes as the company, currently valued at $24.4 million, demonstrates strong market performance with a 52% return over the past year. According to InvestingPro analysis, the stock is trading near its 52-week high of $4.30.

The filing, dated Thursday, February 20, 2025, included an exhibit that officially reported the death of Mr. Dekel. The document was signed by Moshe Zeltzer, the Chief Financial Officer of B.O.S. Better Online Solutions Ltd., indicating that the company is fulfilling its reporting obligations following the sad event. For investors seeking deeper insights, InvestingPro offers comprehensive analysis with 14+ additional ProTips and detailed financial metrics.

B.O.S. Better Online Solutions Ltd. is listed on the SEC’s register with the file number 001-14184. As per the filing, the information about Mr. Dekel’s passing has been incorporated by reference into all effective registration statements filed by the company under the Securities Act of 1933, as amended, to the extent that it is not superseded by documents or reports subsequently filed or furnished.

The company, which has its fiscal year end on December 31, has indicated that it files annual reports under cover Form 20-F, which is the format used by foreign private issuers to provide a comprehensive overview of the company’s financial condition, covering the entire fiscal year.

The loss of Chairman Ziv Dekel is a significant event for B.O.S. Better Online Solutions Ltd., and the company’s business address and contact information remain as stated in the filing. The company has not provided further details regarding the circumstances of Mr. Dekel’s passing or any information about succession plans.

The company maintains a strong financial position with a current ratio of 2.49 and operates with moderate debt levels. InvestingPro’s Financial Health Score rates the company as "GREAT" with an overall score of 3.2 out of 5.

In other recent news, BOS Better Online Solutions Ltd. reported annual revenues of $40 million, falling short of the anticipated $46 million. Despite this revenue shortfall, the company remains confident in achieving its net income target of $2.2 million for the upcoming year. The backlog of orders has increased to $24 million, indicating potential growth in the future.

BOS is strategically positioning itself to benefit from increasing global defense budgets and is exploring expansion and acquisition opportunities. In a recent development, BOS announced the passing of its Chairman, Ziv Dekel, who was remembered for his significant impact on the company’s strategic direction. The Board of Directors has initiated the process of finding a new Chairman to continue the company’s strategic initiatives.

Additionally, BOS is leveraging its Israeli defense relationships to boost international sales and plans to have a European production line operational by the first half of 2025. The company is also partnering with a U.S. Investor Relations firm to improve market visibility. These recent developments are shaping the company’s trajectory in the evolving defense market.

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