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Investing.com -- Nixxy Inc (NASDAQ:NIXX) stock gained 4.9% Wednesday after the AI communications company announced it would not pursue digital asset treasury initiatives following a strategic review.
The technology firm, which focuses on AI-enabled communications and data infrastructure, revealed it had received multiple inquiries from banks, digital asset platforms, and crypto foundations about potentially adding digital assets to its balance sheet. These proposals were aimed at enhancing asset ratios and supporting market capitalization.
After evaluating these opportunities, Nixxy decided against implementing balance sheet-driven digital asset treasury structures or related dilutive capital markets transactions, including ATM facilities or PIPE-style financings.
The company cited its existing nondilutive credit line as providing adequate working capital to support operations well into 2026, allowing it to focus on its current operating strategy and profitability goals.
"We’re pleased with the clarity this review has provided," said Mike Schmidt, Chief Executive Officer of Nixxy. "Our mandate is to remain disciplined, build a durable communications and data infrastructure business, and deliver sustained value for our shareholders. We appreciate the Board’s continued support as we execute on that mission."
The board of directors reaffirmed its confidence in the current leadership team, believing that focusing on scaling the core business rather than pursuing balance sheet-centric financial structures represents the best path toward long-term shareholder value.
Nixxy will continue to invest in its AI communications platform, advance its strategy of acquiring accretive operating businesses, and leverage technologies to improve margins.
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