Welcome to our dedicated page for T Stamp news (Ticker: IDAI), a resource for investors and traders seeking the latest updates and insights on T Stamp stock.
T Stamp Inc develops and markets identity authentication software solutions for enterprise partners and peer-to-peer markets. The company is engaged in developing proprietary artificial intelligence-powered solutions; researching and leveraging biometric science, cryptography, and data mining to deliver insightful identity & trust predictions while identifying and defending against fraudulent identity attacks, protecting sensitive user information, and extending the reach of digital services through accessibility.
Trust Stamp (Nasdaq: IDAI), a global provider of AI-powered technologies, has announced a securities purchase agreement with a single institutional investor to purchase 414,202 shares of common stock (or pre-funded warrants) in a registered direct offering priced at-the-market under Nasdaq rules. Concurrently, the company will issue unregistered Series A and Series B Warrants to purchase up to 414,202 and 207,101 shares of common stock, respectively, in a private placement. The combined effective offering price is $8.45 per share or warrant, with gross proceeds estimated at approximately $3.5 million before fees and expenses. Each warrant will be immediately exercisable, expiring five years from the initial exercise date, with an exercise price of $8.45 per share.
The offering is expected to close on or about January 8, 2025, subject to customary closing conditions. Maxim Group is acting as the sole placement agent. The shares are being offered pursuant to a shelf registration statement on Form S-3, declared effective by the SEC on April 12, 2023. A prospectus supplement related to the offering will be filed with the SEC.
Trust Stamp (IDAI) has announced a strategic partnership with Qenta Inc., involving multiple revenue streams projected to generate up to $4.3m in 2025. The deal includes:
1. A 10% ownership stake in Qenta's new subsidiary, QID Technologies
2. A $1m non-exclusive license fee for Trust Stamp's AI-powered identity technologies, payable in Q1 2025
3. Monthly service fees for business development, product development, and operations, capped at $3.6m annually (resulting in $3.3m net cash inflow considering Trust Stamp's 10% equity stake)
The partnership combines Trust Stamp's AI-powered identity authentication technology with Qenta's asset tokenization capabilities and QOS blockchain, creating a quantum-resistant identity and asset ecosystem. The company states this arrangement is immediately accretive, utilizing existing resources without additional expenses.
Trust Stamp announced key updates regarding its reverse stock split, effective January 6, 2025. The process began on September 20, 2024, with Nasdaq extending compliance time for the $1 closing bid rule on November 4. On November 18, 96% of shareholders approved the reverse split at the EGM. Despite a brief stock price surge to $1.20 on December 30, 2024, the price declined before the official split announcement on January 2, 2025.
The company's board determined the split ratio aiming to both ensure Nasdaq compliance and position the stock above 'penny stock' status to attract broader institutional investment. The company plans to release a 2025 positioning update before its January 29 AGM, where CEO Gareth N. Genner will detail partnerships and initiatives. Trust Stamp emphasizes its strategic position to address global challenges including quantum computing, deepfakes, cybersecurity breaches, and ransomware attacks.
Trust Stamp (IDAI) has announced a 1-for-15 reverse stock split effective January 6, 2025. The split, approved by both Board of Directors and shareholders, will convert every 15 outstanding shares into one share of Common Stock. The authorized shares count and par value will remain unchanged, with fractional shares being rounded up.
CEO Gareth N. Genner stated the primary goal is achieving compliance with Nasdaq Rule 5550(a)(2). He also indicated that the company has been repositioned for 2025 with new strategic partnerships, revenue streams, and cost reductions. The company believes the higher post-split share price will attract more institutional investors and family offices, with plans to expand their shareholder base by showcasing their technology and growth prospects.
Trust Stamp (Nasdaq: IDAI) has announced two significant upcoming events. The AI technology company will release a comprehensive business and strategic update on January 15th, 2025. Additionally, the company will conduct its Annual General Meeting on January 29, 2025, at 9:00 a.m. Eastern Time through an online platform, enabling remote shareholder participation. Further details about these events will be disclosed in upcoming SEC filings.
Trust Stamp (IDAI) has announced a $3.0 million registered direct offering through a securities purchase agreement with a single institutional investor. The deal includes:
- 5,555,548 shares of common stock (or pre-funded warrants) at $0.54 per share - Series A Warrants for 5,555,548 shares - Series B Warrants for 4,166,661 shares
The warrants will have a five-year term from initial exercise date and an exercise price of $0.54 per share, subject to shareholder approval. The offering, managed by Maxim Group as sole placement agent, is expected to close around December 6, 2024.
Trust Stamp (Nasdaq: IDAI) has announced two upcoming key events. The company will release a comprehensive business and strategic update on December 15th, 2024. Additionally, Trust Stamp will conduct its Annual General Meeting on January 29, 2024, at 9:00 a.m. Eastern Time through an online platform, enabling remote shareholder participation. Further details about the meeting will be disclosed in upcoming SEC filings.
Trust Stamp (Nasdaq: IDAI) has been granted Patent No. 17/719,975 by the US Patent and Trademark Office for a 'Personal Identifiable Information Encoder'. This technology enables organizations to maintain the utility of personal identifiable information (PII) without storing highly sensitive data, enhancing data protection and privacy measures.
CEO Gareth N. Genner emphasized the importance of this innovation, stating that data protection and privacy should be non-negotiable for enterprises and government agencies handling PII. The new technology aims to help organizations fulfill their data protection obligations and mitigate potential damages from data breaches, addressing the ongoing issue of data losses across various sectors.
Trust Stamp (Nasdaq: IDAI) has announced a $2.0 million registered direct offering and warrant inducement, priced at-the-market. The company will issue 1,432,399 shares of common stock (or pre-funded warrants) at $0.3223 per share, along with unregistered warrants for 2,864,798 additional shares. The deal includes a warrant inducement agreement for the exercise of 4,773,030 outstanding warrants at $0.3223, with new warrants for 9,546,060 shares issued as consideration. The offering is expected to close around September 5, 2024. Proceeds will be used for working capital, capital expenditures, and other corporate purposes, including terminating transaction documents with HCM Management Foundation. Maxim Group is acting as the sole placement agent.
Trust Stamp (Nasdaq: IDAI) reported financial results for H1 2024, highlighting a 100% year-on-year increase in enrolled customers and Net Revenue growth. Key points include:
1. 62 financial institutions enrolled on SaaS Orchestration Layer, up from 31 in 2023.
2. Net revenue increased to $1.07 million, up from $919,000 in H1 2023.
3. Operating loss widened to $5.47 million from $4.96 million in H1 2023.
4. Net loss per share improved to $0.47 from $0.80 in H1 2023.
5. R&D expenses decreased by 15.76% to $190,000.
6. New partnerships in automotive, mobile identity verification, and healthcare sectors.
7. Anticipating significant license fees as 'other income' in Q3 2024.
FAQ
What is the current stock price of T Stamp (IDAI)?
What is the market cap of T Stamp (IDAI)?
What does T Stamp Inc specialize in?
What technologies does T Stamp Inc leverage?
What is the recent achievement of T Stamp Inc?
Who are the founders of T Stamp Inc?
Where is T Stamp Inc located?
Where does T Stamp Inc trade?
What sectors does T Stamp Inc serve?
What is the mission of T Stamp Inc?
What is the significance of the new patent received by T Stamp Inc?
What is the focus of the recent patent filed by T Stamp Inc?
