Artificial Intelligence
LogicMark, Inc. Issues Letter Reminding Shareholders to Vote in Favor of its Upcoming Annual Meeting Proxy Proposals to Continue Positive Momentum
LOUISVILLE, Ky., July 12, 2022 (GLOBE NEWSWIRE) — LogicMark, Inc. (Nasdaq: LGMK) (the “Company” or “LogicMark”) (formerly Nxt-ID, Inc.), a provider of personal emergency response systems (PERS), health communications devices, and technology for the growing care economy, today issued the following letter to LogicMark shareholders in connection with the Company’s 2022 annual meeting of shareholders (the “2022 Annual Meeting”) to be held on August 25, 2022.
For information about the 2022 Annual Meeting please visit https://www.logicmark.com
The full text of the letter follows.
July 12, 2022
Dear Fellow Shareholders,
The Board of Directors and I urge shareholders to vote “For” all proposals contained in the Annual Meeting Proxy as each proposal is vital for LogicMark’s future success.
When I joined LogicMark I set out to redirect and invigorate the Company and address the problems of the past head on. In doing so, we have strengthened our financial condition, implemented strong corporate controls, expanded our intellectual property portfolio, and added highly specialized talent who will serve with us as the change agents carrying forward LogicMark as a leader in the new care economy.
We are proud of our accomplishments to date as we work hard to execute our strategy to increase our product and service offerings, expand into new markets and diversify revenue generation to drive steady revenue growth and increase our margins. In September of last year, we raised $12.5 million which was used to pay down our term loan and solidify our balance sheet. We are now debt free. Our cash resources provide the necessary funding to enable us to invest in new product initiatives and enter new markets. Most recently, we have increased revenue year-on-year in Q1 2022, and we intend to keep the momentum going in Q2.
With a strong balance sheet and an ambitious strategy, we have invested in diverse and experienced talent to help us execute our objectives. In February of this year, Mark Archer and Rafael Saavedra joined the firm as our permanent Chief Financial Officer and VP of Engineering, respectively. Mr. Archer brings over 40 years of financial and operational experience, including assignments in technology and consumer products companies. Mr. Saavedra brings over 20 years of experience in building and leading globally distributed engineering teams. Their additions to the LogicMark team have been invaluable, enabling us to create new innovative solutions while remaining financially disciplined and focused.
We have also strengthened our board of directors, adding talented individuals with significant and relevant experience to the Company. In the past four months, we have added three new accomplished board members to help LogicMark execute its long-term goals and provide strategic direction for the Company.
In February, Sherice Torres was appointed to the board bringing her nearly 30 years of experience in marketing, brand management, strategic planning and change management for companies such as Google and Meta Platforms (formerly Facebook). In March, John Pettitt was appointed to the board bringing almost 40 years of experience in e-commerce and internet connection. During his career, Mr. Pettitt, as Chief Technology Officer, founded four successful startup companies, two of which successfully IPO’d and two sold to market leaders, VISA and Google. In May, Barbara Gutierrez was appointed to the board and is currently chairman of the audit committee. Ms. Gutierrez is a seasoned financial executive with over 30 years of experience in executive and financial leadership roles with high growth, entrepreneurial companies in various industries, including healthcare and technology. Our new board members add a significant amount of expertise and talent that will be invaluable as we continue to execute our strategy.
Since I joined LogicMark, we have also strengthened our intellectual property portfolio with the filing of five provisional patents critical to remote monitoring, artificial intelligence and machine learning for pattern recognition, fall detection and other compelling capabilities intended to drive high value in our R&D and product development efforts. Some of these capabilities have already been integrated into our exciting new products and more are on the way.
Moreover, I was proud to have been awarded the Gold Stevie Award in May of this year for Maverick of the Year – Consumer Products, recognizing our dedication and hard work to position LogicMark as a leading innovator in consumer products for senior care. Stevie judges for the category, noted how much we have accomplished at LogicMark in such a short time. One commented, “As a CEO and a woman of color leading a technology company Chia-Lin Simmons was able to quickly take over the leadership and turn around the company with additional investors, [continuing] her work in the field of AI/ML by filing two new provisional patents.” Another called Simmons a “pioneer in identifying the need for adult care and using the technology to enable the vision.”
While we have made significant progress over the past year in improving the overall business and focusing on the initiatives that are aimed at driving shareholder value creation, there is still a lot of work to do. With the ongoing support of our loyal shareholders, we are confident of a bright future for LogicMark. By voting “For” the proposals in the Annual Meeting proxy, we will be able to continue our progress, building on our recent success in accomplishing our ambitious goals and objectives.
Vote “For” for Proposal No. 1: The members of the Board of Directors each has the expertise and experience the company believes necessary to support the company’s continued transformation into a technology company focused on building solutions for the new care economy. Over the last year, the Company has added three new Board members who bring experience with technology, strategic marketing, rapid growth, and expertise in the care economy.
Vote “For” Proposal No. 2: Management considers the selection of BPM LLP to be in the best interests of the Company and its stockholders. After evaluating six potential audit firms, the Company believes that BPM is the best choice for the Company, both from a service and cost level.
Vote “For” for Proposal No 3: The Company believes that the 2022 Plan will allow it to continue to attract able directors, employees, consultants, and independent contractors and enable them to acquire and maintain Common Stock ownership in the Company. Concurrent with the adoption of this new Plan, the Company’s two existing stock incentive plan will be terminated and the potential dilution to shareholders will be reduced as a result.
Vote “For” Proposal No. 4: The Company expects that it’s re-incorporation from Delaware to Nevada will measurably reduce its operating costs and will also give it a greater measure of flexibility and simplicity in corporate governance than is available under Delaware law.
If you have any questions or need assistance with your vote, please call our proxy solicitor, Laurel Hill Advisory Group, at 888-742-1305.
On behalf of the Board of Directors, I wish to thank our shareholders for your continued support and look forward to making 2022 and beyond a highly transformative and rewarding period for LogicMark.
Sincerely,
Chia-Lin Simmons
About LogicMark, Inc.
LogicMark, Inc. (Nasdaq: LGMK) provides personal emergency response systems (PERS), health communications devices and technologies to create a Connected Care Platform. The Company’s devices give people the ability to receive care at home and confidence to age in place. LogicMark revolutionized the PERS industry by incorporating two-way voice communication technology directly into its medical alert pendant and providing this life-saving technology at a price point everyday consumers can afford. The Company’s PERS technologies are sold through the United States Veterans Health Administration and dealers/distributors. LogicMark has been awarded a contract by the U.S. General Services Administration that enables the Company to distribute its products to federal, state, and local governments.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; the Company’s ability to maintain its Nasdaq listing for its common stock; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the SEC.
Investor Relations Contact:
CORE IR
[email protected]
516 222 2560
Media:
Jules Abraham
917 885 7378
BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
For media inquiries, please contact [email protected]
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Artificial Intelligence
Malaysia Data Center Market to Witness $3.97 Billion Investment Opportunities by 2029, Get Insights on 34 Existing Data Centers and 33 Upcoming Facilities across Malaysia – Arizton
CHICAGO, April 18, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Malaysia data center market is growing at a CAGR of 13.92% during the forecast period.
To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Malaysia Data Center Market Report Scope
Report Attributes
Details
Market Size (Investment)
USD 3.97 Billion (2029)
Market Size (Area)
883 Thousand Sq. Feet (2029)
Market Size (Power Capacity)
163 MW (2029)
CAGR Investment (2023-2029)
13.92 %
Colocation Market Size (Revenue)
USD 1.23 Billion (2029)
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
Over the next few years, Malaysia is poised to witness significant growth in data center investments, driven by the influx of operators like AirTrunk, Equinix, Princeton Digital Group, and other leading companies. Key hubs like Cyberjaya, Kuala Lumpur, and Johor Bahru are expected to see heightened activity, hosting most of the country’s data centers.
The wholesale colocation sector is projected to experience a revenue surge fueled by major cloud players like Microsoft, Google, and AWS. These companies have unveiled plans to establish dedicated cloud regions within Malaysia, with expected timelines for deployment within the next one to two years. This trend underscores Malaysia’s growing importance as a regional hub for data infrastructure and cloud services.
Malaysia is among the top expensive markets globally for developing data centers. Malaysia’s data center construction cost in 2023 stood at about $8.5-$10 million per MW, making it the costliest market in the APAC region after Singapore and Jakarta.
Investment Opportunities in the Malaysia Data Center Market
In November 2023, ST Telemedia Global Data Centres announced its plans to develop a new data center campus in Johor. The construction of the first building is likely to begin soon and become operational by 2025. The company formed a joint venture with Basis Bay to develop a new data center campus with two buildings, Cyberjaya DC.2 and STT Kuala Lumpur 1 in Cyberjaya, Selangor.In October 2023, EDGNEX Data Centres by DAMAC announced its plans to enter the APAC market for the first time; the company is considering a facility in Cyberjaya, Selangor. The expected investment can cross the $52 million mark.In October 2023, Infinaxis Data Centre Holdings, the joint venture between Gaw Capital Partners and A3 Capital, announced the construction of its first data center facility in Cyberjaya. The facility will have 10 data halls and will likely be operational by Q2 2025.In September 2023, EdgeConneX announced its plans to expand its footprint in Malaysia with the development of three data centers sites across Bukit Jalil, Kuala Lumpur, and Cyberjaya. The company plans to develop data centers in partnership with Cyberview.To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Market Trends
According to IRENA, in 2022, hydroenergy accounted for around 69% of the renewable energy capacity in Malaysia, followed by solar energy, which contributed about 21%, along with a 10% contribution by bioenergy.Malaysia aims to achieve the target of net-zero carbon emissions by 2050. To make this goal a reality, WWF-Malaysia is partnering with Boston Consulting Group to develop an independent joint study on the country’s optimal net zero pathway.The government of Malaysia has established a green tariff scheme to support its carbon-neutrality target. Under the scheme, subscribers can get electricity from solar or hydro sources instead of fossil fuel sources.Mergers, acquisitions, joint ventures, and partnerships are key strategies employed by operators to expand their portfolios and global footprint. For example:
In December 2023, Chindata Group merged with BCPE Chivalry Merger Sub, a wholly owned subsidiary of BCPE Chivalry Bidco, completing its transition to a private company from a public one.November 2023 saw ST Telemedia Global Data Centres, in a joint venture with Basis Bay, announcing plans to develop a new data center campus with two buildings in Cyberjaya, Selangor.A3 Capital and Gaw Capital Partners formed a joint venture in February 2023 to establish Infinaxis Data Centre Holdings to develop and operate data centers across Malaysia and Southeast Asia.MN Holdings, an engineering services and solutions company, signed a Memorandum of Understanding (MoU) in April 2023 with Shanghai DC-Science, outlining an investment of approximately $600 million to develop a data center site at the Sedenak Tech Park, Johor.Why Should You Buy This Research?
Market size is available regarding investment, area, power capacity, and Malaysia colocation market revenue.An assessment of the data center investment in Malaysia by colocation, hyperscale, and enterprise operators.Investments in the area (square feet) and power capacity (MW) across cities in the country.A detailed study of the existing Malaysia data center market landscape, an in-depth market analysis, and insightful predictions about market size during the forecast period.Snapshot of existing and upcoming third-party data center facilities in MalaysiaFacilities Covered (Existing): 34Facilities Identified (Upcoming): 33Coverage: 9 LocationsExisting vs. Upcoming (Area)Existing vs. Upcoming (IT Load Capacity)Data Center Colocation Market in MalaysiaColocation Market Revenue & Forecast (2023-2029)Wholesale vs. Retail Colocation Revenue (2023-2029)Retail Colocation PricingWholesale Colocation PricingThe Malaysia data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the industry.A transparent research methodology and the analysis of the demand and supply aspects of the industry.Buy this Research @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Post-Purchase Benefit
1hr of free analyst discussion10% off on customizationThe Report Includes the Investment in the Following Areas:
IT InfrastructureServersStorage SystemsNetwork InfrastructureElectrical InfrastructureUPS SystemsGeneratorsSwitches & SwitchgearsPDUsOther Electrical InfrastructureMechanical InfrastructureCooling SystemsRack CabinetsOther Mechanical InfrastructureCooling SystemsCRAC and CRAHChillersCooling Tower and Dry CoolersOther Cooling UnitsGeneral ConstructionCore & Shell DevelopmentInstallation & Commissioning ServicesBuilding & Engineering DesignFire Detection & Suppression SystemsPhysical SecurityData Center Infrastructure Management (DCIM)Tier StandardTier I & Tier IITier IIITier IV GeographySelangorJohorOther StatesVendor Landscape
IT Infrastructure Providers
Cisco SystemsDell TechnologiesFujitsuHewlett Packard EnterpriseHuawei TechnologiesIBMInspurLenovoNetAppData Center Construction Contractors & Sub-Contractors
Advance Power EngineeringAsima ArchitectsAVO TechnologyB-Global TechCTC-GlobalCSF GroupCyclect GroupDSCO GroupGamudaGCM TechnologiesHSS EngineersISGKienta Engineering ConstructionLSK EngineeringMES GroupM+W Group (Exyte)MN HoldingsNakanoNTT FACILITIESPowerware SystemsS5 EngineeringShaw ArchitectSunway Construction GroupUnique CentralSupport Infrastructure Providers
ABBCaterpillarCumminsEatonFuji ElectricHITEC Power ProtectionKOHLER PowerLegrandMitsubishi ElectricNarada Power SourcePiller Power SystemsRittalRolls-RoyceSchneider ElectricSiemensSocomecSTULZTraneVertivData Center Investors
Bridge Data CentresEdge CentresGDS ServicesIRIX (PP TELECOMMUNICATION)Keppel Data CentresNTT DATAOpen DCTM OneVantage Data CentersYTL Data Center HoldingsNew Entrants
AirTrunkAmazon Web Services (AWS)EdgeConneXEquinixFutureData (Cyclect Group + TSG Group)Googlei-BerhadInfinaxis Data Centre HoldingsMN Holdings + Shanghai DC-ScienceMicrosoftNEXTDCPrinceton Digital GroupRegal OrionSingtelST Telemedia Global Data CentresYondrTo Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Key Questions Answered in the Report:
What factors are driving the Malaysian data center industry?
How big is the Malaysia data center market?
How many MW of power capacity will be added across Malaysia during 2024 to 2029?
What is the growth rate of the Malaysia data center market?
Which states are included in the Malaysia data center market report?
Get the Detailed TOC @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Check Out Some of the Top-Selling Research Reports:
Indonesia Data Center Market – Investment Analysis & Growth Opportunities 2024-2029
Thailand Data Center Colocation Market – Supply and Demand Analysis 2024-2029
Singapore Data Center Market – Investment Analysis & Growth Opportunities 2023-2028
Australia Data Center Market – Investment Analysis & Growth Opportunities 2023–2028
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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