Latest news with #GaryAtkinson
Yahoo
3 days ago
- General
- Yahoo
Gary Atkinson Imagine Scholarship Fund Announces 2025 Recipients and Expands to Include Trade School Scholarship
LEDYARD, Conn., June 5, 2025 /PRNewswire/ -- At tonight's Ledyard High School Awards Night, the Gary Atkinson Imagine Scholarship Fund (GAISF) proudly announced its 2025 scholarship recipients: Josephine Withbroe and Jordan Yeung. In a major milestone for the Fund, which has now raised over $60,000, GAISF has expanded its awards to include a new scholarship designated for a graduating senior pursuing a career in the trades. The newly established trade school award reflects the Fund's founding principle: to honor the legacy of 1973 LHS graduate Gary Atkinson by recognizing students who demonstrate "strong character, leadership, and community-mindedness"—values that Gary embodied throughout his life as a humanitarian, student leader, and Eagle Scout. Board Chairperson Tom Wagner and Board Member James Neil, both LHS Class of '73 and classmates of Gary, presented the awards. Speaking from the stage where they once graduated, they reflected on Gary's enduring influence: "Fifty-plus years ago, I stood on this stage and introduced our Valedictorian, William Garretson Atkinson III. Gary was a leader who led by example—a humanitarian, scholar, and student council president. He sought to make a difference, and in remembering him, so do we." "The Imagine Scholarship has always honored LHS grads who embody Gary's humanitarian values. This year, we recognize that such values flourish not only in future college students, but also in those who choose the trades." 2025 GAISF Award Recipients Josephine Withbroe, a standout scholar-athlete, exemplifies leadership both in and out of the classroom. Ranked 17th in her class with a 4.65 GPA, she balanced advanced academics with high achievement in cross country and track—competing at Nike Rising Star Nationals and helping her team win a historic ECC title. Her contributions also extend to the National Art Honor Society, National Honor Society, and local community service efforts, including a clothing drive she organized for Gallup Hill Congregational Church. Jordan Yeung is the first recipient of GAISF's new trade school award. A dedicated member of LHS's acclaimed music and theater programs, Jordan is praised by his teachers and peers as a natural leader and community-builder. A four-year choral participant and lead actor in school productions, Jordan plans to follow in his father's footsteps by becoming a lineworker. He will enroll in the Eversource Lineworker Program through Capital Community College with the goal of joining the Eversource apprenticeship program. "To put it simply," wrote LHS Choral Director Melanie Cometa, "Jordan makes everything better." The Gary Atkinson Imagine Scholarship Fund continues to invite community support to sustain and grow its mission. For more information or to donate, visit About the Gary Atkinson Imagine Scholarship Fund Founded in memory of Ledyard High School alumnus Gary Atkinson, who was tragically killed in the 1988 Lockerbie bombing (Pan Am 103), the Gary Atkinson Imagine Scholarship Fund honors Gary's legacy by supporting graduating LHS seniors who exemplify his humanitarian spirit. The Fund has raised over $60,000 to date and is a registered 501(c)(3) nonprofit organization based in Connecticut. Contact: John Dunham, President Gary Atkinson Imagine Scholarship Fund Phone: (415) 412-7770 Email: 396245@ Website: View original content to download multimedia: SOURCE Gary Atkinson Imagine Scholarship Fund Sign in to access your portfolio
Yahoo
16-05-2025
- Business
- Yahoo
Algorhythm Holdings Reports First Quarter 2025 Financial Results
Fort Lauderdale, FL, May 16, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ('Algorhythm') (NASDAQ: RIME) – an AI technology and consumer electronics holding company, announced today its results of operations for the three-month period ended March 31, 2025. Q1 2025 Financial Highlights Algorhythm reported revenue of $2.0 million for the three months ended March 31, 2025 compared to $2.4 million for the three months ended March 31, 2024. Gross profit margin increased by 4.4% to 25.1% from 20.7% compared to the same period of the prior year. Gross profit was $0.5 million for the three months ended March 31, 2025. Loss from operations increased $0.5 million to $2.8 million for the three months ended March 31, 2025, compared to $2.3 million for the three months ended March 31, 2024. Net loss increased $6.8 million to $9.2 million for the three months ended March 31, 2025, compared to $2.4 million for the three months ended March 31, 2024. Adjusted net loss, a non-GAAP measure, was $3.2 million for the three months ended March 31, 2025, compared to $2.4 million for the three months ended March 31, 2024. Inventory was reduced by 14% during the three months ended March 31, 2025, from $2.2 million as of December 31, 2024 to $1.9 million as of March 31, 2025. The Company had cash on hand to $3.3 million as of March 31, 2025. A reconciliation of adjusted net loss on a GAAP and non-GAAP basis is included in the table below entitled 'Reconciliation of GAAP to non-GAAP Financial Measures'. 2025 Business Highlights '2025 is off to an incredible start, highlighted by our recent acquisition of SMCB Solutions Private Ltd. ('SemiCab India'), which operates SemiCab's AI enabled, cloud-based Collaborative Transportation Platform in the Indian market,' stated Gary Atkinson, Chief Executive Officer of Algorhythm. 'SemiCab India is currently operating at an annualized revenue run rate of $4.6 million with projected volume from its national and multinational customers expected to double that run rate by the end of the year. In addition, SemiCab India recently expanded its active fleet to 140 trucks and has access to an additional 450 trucks which, in the event actual growth exceeds projected growth, provides it with the capacity to quadruple its annualized revenue run rate from $4.6 million to over $23 million during the second half of 2025. Algorhythm plans to develop its pipeline of pending contracts with new full truckload (FTL) carriers to grow its fleet to over 1,000 vehicles by the end of 2025 to keep pace with demand.' 'I am highly optimistic at the Company's outlook for the back half of 2025 and beyond,' continued Mr. Atkinson. 'I believe our strategic pivot into AI logistics services with SemiCab will prove to be the correct decision, particularly during this period of extreme economic volatility. We have already seen a seismic move of manufacturing coming into India as a result of tariffs. We foresee this will create opportunities to solve logistics problems and force more optimization throughout the transportation industry. We are committed to continue to invest into the growth of our SemiCab business to take advantage of these opportunities.' Q1 2025 Financial Summary Algorhythm generated revenue of $2.0 million for the three months ended March 31, 2025 compared to $2.4 million for the same period last year. 'Our decrease in revenue was due primarily to lower sales within our karaoke business,' commented Alex Andre, Chief Financial Officer of Algorhythm. 'Sales of our karaoke products will likely continue to decrease due to the negative impact on our business of recently implemented tariffs, however, we expect this to be offset by an increase in revenue that we expect to generate from our SemiCab business. Our recent acquisition of SemiCab India will positively impact our revenue for the remainder of 2025.' The Company reported a net loss for the three-month period ended March 31, 2025 of $9.2 million, compared to a net loss of $2.4 million in the same period of the prior year. The increase was due primarily to a substantial increase in non-cash expenses of $6.4 million for the change in fair value of warrants that the Company issued in December 2024 as part of a public offering. Excluding non-cash expenses, Algorhythm's adjusted net loss was $3.2 million for the quarter. 'The warrants that we issued in December 2024 were subject to certain contingencies that resulted in us recording a warrant liability of $16.6 million on our balance sheet at December 31, 2024 and a loss of $6.4 million on our income statement for Q1 2025,' stated Mr. Andre. 'All of these contingencies were satisfied or became moot during Q1 2025. As a result, we reclassified the entire warrant liability to equity on our balance sheet at March 31, 2025. We will not incur any future non-cash charges associated with changes in the fair value of these warrants.' Non-GAAP Financial Measures The Company prepares it's consolidated financial statements in accordance with United States generally accepted accounting principles ('GAAP'). In addition to disclosing financial information prepared in accordance with GAAP, this release also includes non-GAAP operating income, non-GAAP net income and non-GAAP net income per share data for the periods presented. Management uses non-GAAP financial measures internally for financial and operational decision-making and as a means to evaluate period-to-period comparisons. The Company's management believes that these non-GAAP financial measures provide useful supplemental information to management and investors regarding the performance of the Company's core business operations, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. These non-GAAP financial measures are not recognized measures for financial statement presentation under U.S. GAAP and do not have standardized meanings. Accordingly, they may be different from similar non-GAAP financial measures presented by other companies. These non-GAAP financial measures should only be used to evaluate the Company's results of operations in conjunction with the corresponding GAAP financial measures. Investors should consider these non-GAAP financial measures as a supplement to, and not as a substitute for, corresponding financial measures calculated in accordance with GAAP. For the purposes of this press release, the following non-GAAP financial measures have the following meanings: 'Adjusted net loss' means net loss plus depreciation and amortization, reduction in SMCB loan in exchange for services, provision for estimated cost of returns, change in fair value of warrant liability, provision for inventory obsolescence, credit losses, reserve for sales returns, and stock-based compensation. For further information, please refer to the Company's Annual Report on Form 10-K filed with the SEC on April 15, 2025 and available online at For a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, please see the table below entitled 'Reconciliation of GAAP to Non-GAAP Financial Measures'. Conference Call Details: Date: Friday, May 16, 2025 Time: 10:00 a.m. EDT Dial-in number: 888-999-3182 Conference ID: RIME An audio rebroadcast of the call will be available later in the day at: About Algorhythm Holdings Algorhythm Holdings, Inc. is an AI technology and consumer electronics holding company with two primary business units – SemiCab and Singing Machine. SemiCab is an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully loaded round trips. With SemiCab's AI platform, shippers pay less and carriers make more without having to change a thing. For additional information, please go to: Singing Machine is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, it designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Its product portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select Wi-Fi-capable products and is also developing the world's first globally available, fully integrated in-car karaoke system. Its products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam's Club, Target, and Walmart. For additional information, please go to Investor Relations Contact:investors@ Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm's reports to the SEC, including, without limitation Algorhythm's Annual Report on Form 10-K for the year ended December 31, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise. Algorhythm Holdings, Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited) March 31, 2025 December 31, 2024 Assets Current Assets Cash $ 3,296,000 $ 7,550,000 Accounts receivable, net of allowances of $396,000 and $275,000, respectively 1,385,000 4,373,000 Accounts receivable, related party 357,000 212,000 Note receivable, related party 1,201,000 701,000 Inventory 1,895,000 2,186,000 Returns asset 751,000 1,621,000 Prepaid expenses and other current assets 126,000 120,000 Total Current Assets 9,011,000 16,763,000 Property and equipment, net 253,000 284,000 Other non-current assets 81,000 124,000 Intangible assets, net 330,000 345,000 Goodwill 786,000 786,000 Total Assets $ 10,461,000 $ 18,302,000 Liabilities and Shareholders' Equity Current Liabilities Accounts payable $ 1,301,000 $ 3,808,000 Accrued expenses 2,414,000 4,224,000 Refund due to customer 630,000 38,000 Reserve for sales returns 1,742,000 3,355,000 Warrant liability - 16,603,000 Current portion of notes payable to related parties 551,000 265,000 Other current liabilities 97,000 145,000 Total Current Liabilities 6,735,000 28,438,000 Notes payable to related parties, net of current portion 385,000 385,000 Total Liabilities 7,120,000 28,823,000 Commitments and Contingencies Shareholders' Equity (Deficit) Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding at March 31, 2025 and December 31, 2024 - - Common stock, $0.01 par value; 800,000,000 and 100,000,000 shares authorized; 2,394,829 and 470,825 shares issued and outstanding at March 31, 2025 and December 31, 2024 24,000 5,000 Additional paid-in capital 63,577,000 39,682,000 Accumulated deficit (58,363,000 ) (49,172,000 ) Non-controlling interest (1,139,000 ) (1,036,000 ) Treasury stock, 10,990 and -0- shares reserved at March 31, 2025 and 2024 (758,000 ) - Total Algorhythm Holdings Shareholders' Equity (Deficit) 3,341,000 (10,521,000 ) Total Liabilities and Shareholders' Equity (Deficit) $ 10,461,000 $ 18,302,000 Algorhythm Holdings, Inc. and Subsidiaries Consolidated Statements of Operations (Unaudited) Three Months Ended March 31, 2025 2024 Net Sales $ 1,993,000 $ 2,426,000 Cost of Goods Sold 1,493,000 1,924,000 Gross Profit 500,000 502,000 Operating Expenses Selling expenses 764,000 630,000 General and administrative expenses 2,546,000 2,159,000 Total Operating Expenses 3,310,000 2,789,000 Loss from Operations (2,810,000 ) (2,287,000 ) Other Expenses Change in fair value of warrant liability (6,468,000 ) - Interest expense (16,000 ) (28,000 ) Total Other Expenses (6,484,000 ) (28,000 ) Loss Before Income Tax Benefit (9,294,000 ) (2,315,000 ) Income Tax Provision - (52,000 ) Net Loss (9,294,000 ) (2,367,000 ) Net loss attributable to non-controlling interest 103,000 - Net Loss Available to Common Stockholders $ (9,191,000 ) $ (2,367,000 ) Loss per common share Basic and diluted $ (4.66 ) $ (73.76 ) Weighted Average Common and Common Equivalent Shares: Basic and diluted 1,972,869 32,090 Algorhythm Holdings, Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) Table 1: Adjusted Net Loss For the Three Months Ended March 31, 2025 2024 Net loss (as reported) $ (9,294,000 ) $ (2,367,000 ) Depreciation and amortization 91,000 136,000 Reduction in SMCB loan in exchange for services 172,000 - Provision for estimated cost of returns 870,000 658,000 Change in fair value of warrant liability 6,468,000 - Provision for inventory obsolescence 4,000 - Credit losses 3,000 101,000 Reserve for sales returns (1,614,000 ) (971,000 ) Stock based compensation 85,000 19,000 Adjusted net loss $ (3,215,000 ) $ (2,424,000 )
Yahoo
05-05-2025
- Business
- Yahoo
Algorhythm Holdings Acquires SemiCab India, Expands Global AI Transportation Footprint
Acquisition Adds Multiple Multinational Customers in India and Unlocks Scalable Growth Opportunities in Rapidly Growing Indian Market Fort Lauderdale, FL, May 05, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ('Algorhythm') (NASDAQ: RIME), a diversified technology-driven holding company, today announced the acquisition of SMCB Solutions Private Ltd., an India private limited company ('SemiCab India'). This marks Algorhythm's second transaction with SemiCab, Inc. following the acquisition of its U.S. business in July 2024. Under the terms of the deal, Algorhythm's subsidiary, SemiCab Holdings, LLC, acquired 9,999 of the 10,000 issued and outstanding equity shares of SemiCab India. In exchange, Algorhythm issued a $1.75 million promissory note and 119,742 shares of its common stock (approximately 5% of Algorhythm's issued and outstanding shares) to SemiCab, Inc. Key Highlights of SemiCab India: Accelerated Revenue Growth: SemiCab India has more than doubled its annualized revenue run rate since January 2025 from approximately $1.8 million to approximately $4.5 million and anticipates to double it again by year-end. Multinational Client Base: Existing contracts with leading FMCG (fast moving consumer goods) companies in India offer a path to scale operations in the future by over 25x into a fast-growing, highly dense geography. International Expansion Blueprint: Establishes a proven model for expansion into other regions facing similar freight inefficiencies. 'We're thrilled to complete the acquisition of SemiCab's Indian operations,' said Gary Atkinson, CEO of Algorhythm Holdings. 'India represents one of the world's most compelling logistics opportunities due to its geographic density, strong institutional partnerships, and accelerating infrastructure investment. With this transaction, we gain direct access to top-tier multinational customers and a rapidly scaling AI platform positioned to disrupt the global freight market.' Ajesh Kapoor, CEO of SemiCab Holdings, commented, 'Transportation and logistics in India is going through a huge transformation. In partnership with NDFE and all our industry partners, we are building a technology infrastructure as the Government of India transforms the physical infrastructure in the country. This is the largest and most ambitious Collaborative Transportation initiative being supported by some of the largest and most progressive organizations worldwide. We are excited to have Gary and the Algorhythm team behind us in our quest to create the most efficient transportation networks one geography at a time.' Transforming Freight in India India's $1.3 trillion logistics sector is undergoing rapid modernization. In 2021, the Indian government launched the Gati Shakti National Master Plan, a multi-ministerial infrastructure initiative aimed at digitally integrating supply chains across the country. As part of this initiative, the National Digital Freight Exchange (NDFE) – a public-private consortium led by the Confederation of Indian Industry – selected SemiCab as its AI logistics partner. More than 40 national and global enterprises are members of NDFE, and over a dozen have already initiated pilots with SemiCab's Collaborative Transportation Platform. Benefits of SemiCab's AI Platform SemiCab's proprietary platform delivers measurable impact: Freight Utilization: Improves freight utilization rates from ~65% to up to 90%. Cost Savings: Reduces total shipping costs by up to 10%. Optimized Trucking Capacity: Increases trucking capacity by ~30% without added vehicles or miles. Labor Reduction: Dramatically reduces the staffing necessary to schedule, monitor, and bill for freight services. Sustainability: Cuts carbon emissions by up to 25%. The platform improves visibility into the entire transportation network by providing live tracking for every load. The platform can identify, create, and execute real-time collaboration opportunities between shippers and transporters – without altering business workflows. Additionally, the platform integrates with existing TMS systems for automated indenting, invoicing, and real-time shipment visibility, and utilizes platform bots for extracting information and automating repetitive tasks. About Algorhythm Holdings Algorhythm Holdings, Inc. is an AI technology and consumer electronics holding company with two primary business units – SemiCab and Singing Machine. SemiCab is an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully-loaded round trips. With SemiCab's AI platform, shippers pay less and carriers make more without having to change a thing. For additional information, please go to: Singing Machine is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, it designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Its product portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world's first globally available, fully integrated in-car karaoke system. Its products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam's Club, Target, and Walmart. For additional information, please go to Investor Relations Contact:investors@ Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm's reports to the SEC, including, without limitation Algorhythm's Annual Report on Form 10-K for the year ended December 31, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise. Sign in to access your portfolio
Yahoo
07-04-2025
- Business
- Yahoo
Algorhythm Holdings to Present at the LD Micro Invitational XV Conference
Fort Lauderdale, FL, April 07, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ('Algorhythm') (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, today announced that it will be participating in the 15th Annual LD Micro Invitational Conference at the Westin Grand Central in New York on April 9th and 10th, 2025. Algorhythm is scheduled to present on April 10, 2025, at 1:30 PM ET, with one-on-one investor meetings to follow. Gary Atkinson, Chief Executive Officer, will deliver the presentation and meet investors for one-on-one meetings at the event. Presentation Details:Event: LD Micro Invitational XVDate: Thursday, April 10, 2025Time: 1:30 PM ETLocation: The Westin Grand Central Hotel in Track 3 The LD Micro Invitational is one of the premier investor conferences dedicated to showcasing the most innovative and dynamic companies in the micro- and small-cap space. The event features a curated selection of presenters and provides a high-impact environment for networking and strategic dialogue. About LD Micro LD Micro aims to be the most essential resource in the micro-cap world. Whether it is the Index, comprehensive data, or hosting the most significant events annually, LD's sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies. To learn more about LD Micro, visit About Algorhythm Holdings Algorhythm Holdings, Inc. is a holding company with two primary investments. First, the Company owns SemiCab Holdings, an emerging leader in the AI-enabled global logistics industry. Second, the Company owns The Singing Machine Company, the worldwide leader in the consumer karaoke industry. SemiCab is a cloud-based Collaborative Transportation Platform built to achieve the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. To orchestrate collaboration across manufacturers, retailers, distributors, and their carriers, SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners. To build fully loaded round trips, SemiCab uses AI/ML predictions and advanced predictive optimization models. On the SemiCab platform, shippers pay less and carriers make more while not having to change a thing. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. SemiCab's Orchestrated Collaboration™ AI model has proven to increase transportation capacity, improve asset utilization, reduce empty miles, lower logistics costs, and provide visibility into the entire transportation network. Models show the technology has the capability of saving shippers tens of billions of dollars annually through optimization. Further, SemiCab's technology also has the potential to play a key role in the improved sustainability model globally. Based on its proven ability to improve truck utilization rates from 65% to over 90%, this results in a dramatic reduction in the carbon footprint of the industry. The optimization of existing truck utilization can add approximately 30% more trucking capacity without adding more trucks, drivers or driven miles which addresses common problems plaguing the industry like severe driver shortage and road congestion. Trucking optimization could also eliminate approximately 25% of CO2 emissions attributable to road freight. For additional information regarding SemiCab: The Singing Machine Company, Inc. is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world's first globally available, fully integrated in-car karaoke system. The Company also has a new philanthropic initiative, CARE-eoke by Singing Machine, to focus on the social impact of karaoke for children and adults of all ages who would benefit from singing. Their products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam's Club, Target, and Walmart. To learn more, go to Investor Relations Contact:investors@ Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports with the SEC, including, without limitation the Company's Transition Report on Form 10-KT for the transition period from April 1, 2023 to December 31, 2023, and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or in to access your portfolio
Yahoo
24-03-2025
- Business
- Yahoo
Algorhythm Holdings to Participate in the iAccess Alpha Virtual Best Ideas Spring Investment Conference 2025 on March 25-26, 2025
Fort Lauderdale, FL, March 24, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ('Algorhythm') (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, today announced that its management will be participating in the iAccess Alpha Virtual Best Ideas Spring Investment Conference 2025 on March 25 and 26, 2025. Representing the company, Gary Atkinson, Company CEO, will deliver a company presentation at 3:00PM ET on March 25, followed by one-on-one meetings with investors on March 26. iAccess Alpha hosts virtual investor conferences featuring companies recommended by investors. These two-day events include webcast presentations on Day 1, followed by one-on-one meetings between company management teams and pre-qualified investors on Day 2. For more information about the iAccess Alpha Virtual Best Ideas Spring Investment Conference 2025, please visit the conference website at: The live webcast of Algorhythm's presentation will be available at and a replay will be accessible afterward. The presentation will also be available on the company's website under the "Events and Presentations" tab. About Algorhythm Holdings Algorhythm Holdings, Inc. is a holding company with two primary investments. First, the company owns SemiCab Holdings, an emerging leader in the AI-enabled global logistics industry. Second, the company owns The Singing Machine Company, the worldwide leader in the consumer karaoke industry. SemiCab is a cloud-based Collaborative Transportation Platform built to achieve the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. To orchestrate collaboration across manufacturers, retailers, distributors, and their carriers, SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners. To build fully loaded round trips, SemiCab uses AI/ML predictions and advanced predictive optimization models. On the SemiCab platform, shippers pay less and carriers make more while not having to change a thing. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. SemiCab's Orchestrated Collaboration™ AI model has proven to increase transportation capacity, improve asset utilization, reduce empty miles, lower logistics costs, and provide visibility into the entire transportation network. Models show the technology has the capability of saving shippers tens of billions of dollars annually through optimization. Further, SemiCab's technology also has the potential to play a key role in the improved sustainability model globally. Its proven ability to improve truck utilization rates from 65% to over 90% adds approximately 30% more trucking capacity without adding more trucks, drivers or driven miles which addresses common problems plaguing the industry like severe driver shortage and road congestion. Trucking optimization could also eliminate approximately 25% of carbon dioxide emissions attributable to road freight, resulting in a dramatic reduction in the carbon footprint of the industry. For additional information regarding SemiCab: The Singing Machine Company is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Its portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world's first globally available, fully integrated in-car karaoke system. The company also has a new philanthropic initiative, CARE-eoke by Singing Machine, to focus on the social impact of karaoke for children and adults of all ages who would benefit from singing. Its products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam's Club, Target, and Walmart. To learn more, go to Investor Relations Contact:investors@ Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports with the SEC, including, without limitation the Company's Transition Report on Form 10-KT for the transition period from April 1, 2023 to December 31, 2023, and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. 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