GFAI Stock Plunged 6.34% Pre-Market, Here’s Why

GFAI Stock

Guardforce AI Co., Limited stock plummeted 6.34% in the pre-market trading session at the price of $0.56 despite no fundamental development.

Guardforce AI provides innovative technologies and integrated safety solutions to protect the valuable assets of both private and public organizations. The company helps customers adopt the latest technologies and work safely with the evolution of the Asia Pacific business landscape.

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GFAI Announced Robotics Deployments

On 18th February 2022, GFAI reported the deployment of over 1400 robots in the Asia Pacific territory. The Deployments cover various sectors, including administration facilities, supermarkets, hospitals, transport stations, shopping malls, academic organizations, recreation facilities, hotels, and restaurants.

Starting from the Q4 of 2020, GFAI started rolling out robotics deployments in markets across Hong Kong, Thailand, Macau, Malaysia, and Singapore. Offering clients an opportunity to track its robotic solutions is a leading element of Guardfoce’s business strategy. Resultantly, it facilitates GFAI to acquire a significant foothold and build a sizeable market share in the emerging robotics space.

Management Comments

Chairman of GFAI, Terence Yap, remarked that they are happy to exceed 1400 deployments in Asia Pacific territory. Their 40-year record of delivering professional services and well-established client base had qualified them to boost deployments.

He is very thankful to the frontline officials for moving ahead with this strategic business goal that underscores the growing demand for robotics and automation solutions. Moreover, it offers them a baseline for future margin growth and revenue opportunities. Their teams will explore more deployment prospects in other regions, including Hong Kong, Singapore, Malaysia, and Macau.

Closure of US$10.3M Private Placement

Earlier on 20th January 2022, GFAI reported the closure of its private placement of ordinary shares. As per the purchase deal, GFAI sold 7.9 million shares and warrants to purchase roughly 11.8 million shares. The offered warrants have an exercise price of US$1.30 per share and will expire five years after the issuance.

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