SuperCom Ltd. (SPCB) is a leading international conventional and digital identity solutions provider. The company also provides extra security and identification to governments and businesses. MAGNA is a platform for e-passport issuance, biometric visa issuance, digital driving licenses, and election management. Another important program of the company is the PureRF platform which helps in identification, tracking and monitoring the people and objects.
The price of SPCB stock during regular trading on December 30, 2021, was $0.61 with a tremendous gain of 40.10%. At last check in the pre-market, the stock declined by 3.44%.
SPCB: Events and Happenings
On December 30, 2021, SPCB reported about a notification by the chairman of the board about the recent acquisition of the company’s 512,000 shares in the open market. The process occurred under the purchase procedure to acquire approximately 3 million SPCB shares in the Open Market.
On December 20, 2021, SPCB reported that Safend had been designated by a security agency and cyber security businesses to expand their security protocols. Safend is SPCB’s cyber security sub-division. The company is expected to receive more than $0.35 million from these ventures.
On December 17, 2021, SPCB reported about the receipt of a letter from Nasdaq, about non-compliance with Nasdaq Listing Rule 5550(a)(2). The Company’s closing bid price for the stock was less than $1.00 per share. On December 2 and 9, 2021, SPCB reported about signing a contract related to electronic monitoring in Texas and Idaho respectively.
SPCB: CEO Comments
Ordan Trabelsi, CEO of the company stated that the novelties for house arrest and GPS offender monitoring had given innovative capacities to the marketplace. He further added that the main focus of the company is public safety using cell tower location, Wi-Fi location, and RF tethering.
SPCB: Key Financials
On November 11, 2021, SPCB announced the key financial highlights for three months ended September 30, 2021.
Revenue and Assets
Revenue reported for Q3 2021 was $3.1 million as compared to the same period prior year when it was $2.4 million. The total current assets of the company for the third quarter of 2021 were $31.4 million.
Net Loss
Net loss for the third quarter of 2021 was $2.4 million as compared to the same period of 2020 when it was $3.7 million. The net loss decreased over the period of the year.
On October 7, 2021, SPCB reported about the receipt of a project award by one of its subsidiaries. The project will provide rehabilitation services. One of the main emphasis of the project was creating employment services for women.
Conclusion
SPCB stock showed a slight decline (11%) during the past month, yet the company recovered its stock price tremendously. But the current aftermarket dip is possibly the result of the announcement by the company’s chairman about the acquisition of shares. The analysts are optimistic that the company will play its part to lift the stock price. It will in turn attract the consumers in the coming days.
