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Internet Sciences Inc. (OTC:ASAZF), a New York-based communications services provider with annual revenues of $6.3 billion and an impressive 61% gross profit margin according to InvestingPro, announced the appointment of James C. Forbes to its Board of Directors, effective May 1, 2025. The company disclosed this information in a Form 8-K filing with the Securities and Exchange Commission on Monday.
Forbes, currently the Chief Strategy Officer of Vizzia Technologies, brings extensive experience in the technology and telecommunications sectors. His previous roles include Chairman & CEO of NS8 Corp. and Vice President of Equant, a company later acquired by France Telecom (EPA:ORAN). Forbes is also involved with the Technology Association of Georgia and the Georgia Intellectual Property Alliance.
In addition to the board appointment, Internet Sciences Inc. has amended its incentive plan. The amendment, approved by the majority of the Board of Directors on April 14, increases the number of shares available for issuance by 4 million shares. This move is part of the company’s efforts to enhance its compensation strategy for executives and employees. InvestingPro analysis suggests the company is currently undervalued, with analysts setting price targets ranging from $10.30 to $15.06.
The company, formerly known as Luxury Trine Digital Media Group Inc., operates from its headquarters at 667 Madison Ave, New York. It has been recognized as an emerging growth company and is currently traded over-the-counter.
This announcement comes as Internet Sciences Inc. continues to navigate the competitive communications services market. While the company posted a negative earnings per share of -$0.89 in the last twelve months, InvestingPro analysts forecast a return to profitability this year with projected earnings of $0.58 per share. The appointment of Forbes and the expansion of the incentive plan are steps that the company is taking to strengthen its leadership and align its growth objectives with its compensation policies.
The information in this article is based on the latest SEC filing by Internet Sciences Inc.
In other recent news, Entain PLC reported its financial results for FY24, aligning with consensus estimates and showing a 9% increase in group net gaming revenue to £5,162 million. The company’s EBITDA slightly exceeded expectations at £1,089 million, reinforcing its stable outlook for FY25 with anticipated EBITDA of £1,109 million. Meanwhile, BofA Securities downgraded Entain from Buy to Neutral, setting a new price target of GBP7.50, following the unexpected departure of CEO Gavin Isaacs. This leadership change has led to increased uncertainty, prompting BofA to adjust their valuation metrics for the company. However, in a subsequent update, BofA upgraded Entain back to Buy, albeit with a reduced price target of £8.00, citing improvements in the US market share and the appointment of a new CEO. BofA also raised its 2025 earnings per share estimate for Entain by 23%, reflecting a positive outlook despite recent share price challenges. Jefferies analysts noted that while CEO changes could impact the company’s narrative, the interim leadership by Chair Stella David provides some reassurance. These developments highlight the dynamic nature of Entain’s current business environment and investor sentiment.
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