Tiny Float, Trading Below Book Value, Strong Product Line, Recent Agreements with Major Carriers – Siyata Mobile

Tiny Float, Trading Below Book Value, Strong Product Line, Recent Agreements with Major Carriers – Siyata Mobile
Siyata Mobile (SYTA) Is at Its Lowest Market Cap of the Year and the Company’s Future Has Never Looked Stronger

A strong product line and acceptance by major cell networks are driving the company forward.

Good day everyone,

Siyata Mobile Inc. (NASDAQ: SYTA) is a B2B global vendor of next generation Push-To-Talk over Cellular (PoC) devices and cellular booster systems.

Current price $.84/share (as of 10:30 a.m. EDT 7-26-22)

SYTA shares closed the Tuesday session at $.835/share, virtually the same price as the Monday session with 263K shares traded. In early trading Wednesday SYTA shares are looking for traction.

The company’s future has never looked stronger, and they are reporting potential catalysts on a regular basis right now. The big news in 2022 has been the channel/distribution partners the company has reached agreements to carry the hot SD7 product on their networks with:

AT&T, FirstNet, Verizon, Logic Wireless, US Cellular, and Azetti, TASSTA (T-Mobile and others will likely come on board).

In news just released this week, the SD7 device is now available from TASSTA, a global MCPTT software provider and end-to-end solution for critical communications. TASSTA has been recognized as a “Top 10 Emergency Management Solutions Providers” by Government CIO Outlook for three consecutive years. They cited the SD7’s battery life and robustness as reasons for their choice. TASSTA, based in Germany, targets industries including, army, emergency services, transport, building and construction, healthcare, campus and shopping centers, ports, public transport, security, government, and taxi services.

The company’s Q122 earnings report, indicated a drop in revenues from Q121. We’ve talked about SYTA’s decision last year to walk away from most of its legacy products and go all-in on its new technologies like the SD7 and VK7 (described below). It was a bold move, and the company knew it could cost them revenues in the short term.

But that move is paying off as SYTA announced a $2.2M order for the SD7 and related products after Q1 this year. The company has projected sales of $10-35M in 2023 and they will no doubt be ramping up to that level in 2022. The current price of SYTA shares looks like an irresistible value should revenue projections come to fruition.

SYTA is a small company. Those big-name partner companies I mentioned above will also be selling STYA products. If a salesperson walks into an urban police department and says, “I’m from Siyata Mobile and I want to upgrade your two-way radio system,” they will likely hear “who is Siyata Mobile?” However, if a salesperson says “Hello, I’m from Verizon” they have immediate credibility.

The PTT over cellular market is dominated by big players like Motorola. Is SYTA going to knock them out of the way? That would be nice but not likely. The global push-to-talk over cellular market reached a value of $4.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach $7.4 Billion by 2027, exhibiting a CAGR of 10% during 2022-2027. That means that every 1% of market share is going to be worth $74M in revenues.

Statista tells us that the U.S. smartphone market is $74B and is dominated by Apple and Samsung (75%). Everyone I know uses one of those brands. OnePlus has captured just 2% of the U.S. smartphone market and that small percentage generates $1.4B in annual revenues. If SYTA only captures 2% (I believe it could be much higher) of the PTT market they could generate $150M in revenues.

The SD7 is a game changer. It works just like a two-way radio. But those old-style radios operate on a closed network with a limited range. The SD7 is a cellular device that operates on networks such as Verizon and AT&T, so their range is virtually unlimited. There are millions of two-way radios around the world waiting to be replaced.

The Siyata SD7 is a highly functional and rugged Android based PTT only handset. The SD7 is the cornerstone of the new line-up of products for SYTA. The device is IP68 compliant, protected against dust and debris with drop protection. To me, it’s a rugged looking product and TASSTA cited long battery life as a part of its SD7 choice.

VK7 – an in-car mounted solution that pairs with the SD7. Features an integrated 20-watt speaker, a simple slide-in connection sleeve for the SD7, and an external antenna connection for connecting to a windshield or roof mount antenna.

Uniden products from SYTA:

The Uniden® UV350 – In-vehicle smartphone designed to optimize mobile communications. Designed specifically for commercial vehicles ensuring safer communication for professional drivers.

The Uniden® CP250 – tablet style device for voice calls, navigation, data apps and built-in camera. This device was designed to be installed on the dash or mounted on a windshield, specifically for lighter commercial vehicles such taxis, vans, and delivery trucks.

Uniden® UR5 – another rugged handheld phone. This device is IP68 MIL810-G compliant and has 4G/LTE speed, clear cellular call quality.

Uniden® UR7 – a rugged smart phone in a clamshell form. It is based on a Qualcomm Snapdragon chipset supporting all North American bands including 4G LTE.

(5) Models of Uniden cellular boosters for consumers and enterprise. Uniden® Cellular Signal Booster kits are the most technologically advanced signal solutions available today offering clear phone calls and fast data speeds. They work with all cellular service providers 3G and 4G/LTE networks and are 5G ready.

I’m providing a link to a video interview with SYTA CEO Marc Seelenfreund recorded July 15th and titled Siyata Mobile: Disrupting the Land Mobile Radio Industry with Next Generation Solutions. It’s a useful source of information about the company.

Once again, SYTA statistics:
FYE is 12-31 (Figures below as of the most recent quarter 3-31-22)

Outstanding shares        15.1M
Shares in float                  11.9M
Revenues (FYE 2021)      $7.5M
Cash (mrq)                       $9.2M
Book value (mrq)            $1.20/share
Market cap                       $12.6M

As I said above, SYTA is at its lowest market cap of the year ($12.6M) and the company’s future has never looked stronger. When I look at the chart below, with an RSI (14) of only 30.74, I see the potential for a double-, or triple-digit bounce screaming at me.

We will be back with more on SYTA,

The Traders News Team



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