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Thursday, May 19, 2022

Global Expansion of Footprint: Guardforce AI Co., Ltd. (GFAI) Stock Shining Bright Premarket.

Guardforce AI Co., Ltd. (GFAI) is an innovative developer of integrated security systems for guarding and transporting the high-value possessions of different businesses. The company is engaged in the development of innovative technologies for enhancing safety and protection.


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GFAI stock price during the regular trading session of March 28, 2022, was $1.18 with a gain of 5.36%. Its price remarkably increased further as of the writing in the premarket session on March 29, 2022, by 22%.

GFAI: Events and Happenings

On March 29, 2022, GFAI updated on expanding its international footprint by the establishment of subsidiaries in Australia and Dubai, primarily focusing on Robotics as a Service rollout steps. The company’s Australian subsidiary was incorporated in February 2022, while its Dubai-based subsidiary was incorporated in March 2022. The offices of the subsidiaries of the company are in their preliminary setup phase.

On March 22, 2022, GFAI reported the purchase of Guangzhou Kewei Robot Technology Co., Ltd and Shenzhen Keweien Robot Service Co., Ltd worth $10.0 million paid in a mix of cash and its restricted ordinary shares. Both the companies focus on different sectors while deriving revenue from AI robotic facilities.

On March 17, 2022, GFAI stated the anticipated date of the release of its full fiscal 2021 financials to be March 30, 2022, following a conference call on March 31.

GFAI: Key Financials

GFAI released its interim financial statement on December 17, 2021, for H1 2021 ended on June 30, 2021. Some key highlights are mentioned below.

Revenue

The company posted total revenue of $18.4 million in the first half of 2021 as compared to $18.7 million during the corresponding six months of 2020. The company’s revenue dipped by $0.32 million over the year.

EPS

Net loss per share basic and diluted in the first half of 2021 was $1.55 million or $0.09 against $1.57 million or $0.09 in the corresponding six months of 2020. The company observed a decline in its net loss YoY.

Conclusion

GFAI stock rose by 2% year-to-date and again gained pace in today’s premarket trading. Its stock jumped as the company updated on the expansion of its international footprint in two major markets of Australia and Dubai. This will prove to be advantageous for the company in many aspects soon.

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