Wisa Technologies’ officer sells $4,046 in stock By Investing.com

In the most recent transactions reported to the SEC, Stanley Mbugua, chief accounting officer and VP of finance at WISA Technologies, Inc. (NASDAQ:WISA), sold 2,267 shares of the company’s common stock.The transaction came as WISA’s stock showed gave strong momentum, up 19.77% over the past week, despite a year-to-date decline of 88% With an average price of $1.7851, a total of $4046. This transaction was made to satisfy tax obligations related to the equity award.After the sale, Mbugua has 67,733 shares in the company with a market capitalization of $17.7 million InvestingPro: analysis, WISA is currently experiencing a rapid cash burn with a weak overall financial health rating. InvestingPro subscribers have access to 14 additional key insights and a comprehensive Pro Research Report that provides a more in-depth analysis of WISA’s financial position.

In other recent news, WiSA Technologies announced some significant developments. The company reported a significant increase in Q3 revenue to $1.2 million, up 240% year-over-year, driven by improved gross margins and to With the shift to direct-to-consumer sales, WiSA Technologies also reduced its inventory by 17%, ending the quarter with a stable cash position of $3.9 million.

WiSA Technologies has made progress in its strategic plans by acquiring CompuSystems, Inc. (CSI), a live event management services company. The acquisition aims to enhance WiSA’s offerings by integrating CSI’s expertise with Datavault’s ADIO technology. and $3-4 million in EBITDA.

The Company’s shareholders have elected eight nominees to serve as directors through the 2025 annual meeting, and the appointment of BPM LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024. In addition, WiSA Technologies confirmed the acquisition of intellectual property and technology assets from Data Vault Holdings Inc.

WiSA Technologies also confirmed the de facto resignation of Mr. Gary Williams, with Mr. Stanley Mbugua replacing him as the new Chief Accountant.The company extended the exercise period of the warrants, a strategic move to encourage warrant holders to participate in the exercise, potentially increasing the company’s equity base. :

These are recent developments that are indicative of ongoing strategic moves and management decisions within WiSA Technologies.

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