Latest news with #Kron
Miami Herald
4 days ago
- Business
- Miami Herald
Spetz Announces Closing of First Tranche of Previously Announced $10,000,000 Private Placement
TORONTO, ON / ACCESS Newswire / May 28, 2025 / SPETZ INC. (the "Company" or "Spetz") (CSE:SPTZ)(OTC PINK:DBKSF) is pleased to announce that it has held the closing of the first tranche of its previously announced non-brokered private placement (the "Private Placement") at which it issued 14,702,617 units (the "Units") at a price of $0.50 per Unit, for gross proceeds of $7,351,308.50. Each of the Units is comprised of one common share and one-half of a common share purchase warrant (the "Warrants") of Spetz. Each whole Warrant entitles its holder to acquire one additional common share of Spetz at a price of $0.75 for a period of 24 months from the closing date. The Private Placement was described in the press releases of the Company disseminated on March 24, 2025 and May 12, 2025. The net proceeds from the Private Placement will be used for general working capital purposes, validator expansion, and growth initiatives within the blockchain infrastructure sector. "We're excited to announce the closing of this first tranche and the strong support we've received from a high-caliber group of investors," said Mitchell Demeter, CEO and Director of Spetz Inc and Sonic Strategy. "These funds will enable the Company to acquire Sonic tokens, launch validator infrastructure to help secure the Sonic network, and deploy capital into DeFi strategies within the Sonic ecosystem. We're especially pleased to have participation from key backers including Canaccord Genuity Financial, Russell Star, previously of DeFi Technologies, Haywood Securities, and Sonic Labs." Additional closings of the Private Placement may be held until June 23, 2025, subject to the issuance of a maximum of an additional 5,297,383 Units at a price of $0.50 per Unit, for total maximum additional gross proceeds of $2,648,691.50. In connection with the Private Placement, Spetz paid cash commissions to seven (7) securities dealers in an aggregate amount of $315,812. In addition, Spetz granted non-transferable finders' warrants (the "Finder's Warrants") to seven (7) securities dealers entitling them to acquire up to an aggregate of 719,524 additional common shares of Spetz at a price of $0.75 per share for a period of 24 months form the closing date. All of the foregoing securities are subject to a hold period of four months and day expiring on September 29, 2025. Related Party Transaction Michael Kron, a director of the Company, purchased 100,000 Units at a price of $0.50 per Unit for a consideration of $50,000 (representing approximately 0.22% of the issued and outstanding common shares of the Company following the closing of the Private Placement). Immediately after the closing of the Private Placement, Mr. Kron owned, directly, 115,704 common shares of the Company, 50,000 Warrants and 10,000 stock options of the Company. Mr. Kron is considered a "related party" and an "insider" of the Company for the purposes of applicable securities laws and stock exchange rules. The subscription and issuance of Units to Mr. Kron constitute a related party transaction, but is exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as the Company's securities are not listed on any stock exchange identified in Section 5.5(b) of MI 61-101 and that the fair market value of the Units issued to Mr. Kron under the Private Placement, does not exceeds 25% of the Company's market capitalization. The Company did not file a material change report with respect to the participation of Mr. Kron at least 21 days prior to the closing of the Private Placement as Mr. Kron's participation was not determined at that time. Mr. Kron, a director of the Company, has disclosed his interest to the Board of the Directors of the Company pursuant to Section 132 of the Business Corporations Act (Ontario) to the effect that he may participate in the Private Placement and subscribe to Units. The terms of the Private Placement and the agreements relating thereto were submitted to and unanimously approved by way of a written resolution adopted by all the directors of the Company other than Mr. Kron. Mr. Kron did not vote on the resolution to approve the Private Placement and the agreements relating thereto. The remaining directors determined that the Private Placement was in the best interest of the Company. About Spetz Inc. is a multinational technology company operating at the intersection of AI-driven marketplaces and blockchain infrastructure. The Company owns and operates the Spetz application, an AI-powered platform connecting consumers with service providers, as well as Sonic Strategy, a blockchain staking and infrastructure company supporting the Sonic ecosystem. Spetz Website: Strategy Website: Investor information: Company Contacts: NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATION SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Cautionary Note Regarding Forward-looking StatementsCertain information herein constitutes "forward-looking information" under Canadian securities laws, reflecting management's expectations regarding objectives, plans, strategies, future growth, results of operations, and business prospects of the Company. Words such as "may", "plans," "expects," "intends," "anticipates," "believes," and similar expressions identify forward-looking statements, which are qualified by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of estimates and assumptions that, while considered reasonable by management, are subject to business, economic, and competitive uncertainties and contingencies. The Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected outcomes. Factors influencing these outcomes include economic conditions, regulatory developments, competition, capital availability, and business execution risks. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including, the closing of additional tranches of the Private Placement, how the Company will use of the net proceeds of the Private Placement or if any Warrants or Finder's Warrants will ever be exercised. The forward-looking information contained in this press release represents Spetz's expectations as of the date of this release and is subject to change. Spetz does not undertake any obligation to update forward-looking statements, except as required by law. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction. None of the securities issued in the Private Placement will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. We seek Safe Harbor. SOURCE: Spetz Inc
Forbes
28-03-2025
- Business
- Forbes
Alexa Just Became Less Private—What The March 28 Amazon Changes Mean
Amazon just killed two Alexa privacy controls. It has been widely reported that Amazon is making changes to Alexa as the online shopping and cloud technology behemoth prepares to release a new AI update called Alexa Plus. Those changes impact privacy controls and, I'm sorry to have to inform you, have come into force today, March 28. The two privacy controls in question relate to the sending and saving of voice recordings. Sending them to the cloud to be analyzed by Amazon. If you haven't already opted out of doing this, it's too now too late. Here's what you need to know. Some users of Amazon's smart assistant, Alexa, received an email in the middle of March warning them that, as of March 28, the 'Do Not Send Voice Recordings' feature would be disabled. 'This feature allowed compatible Echo devices to process the audio of Alexa requests locally on device,' that email stated; 'As we continue to expand Alexa's capabilities with generative Al features that rely on the processing power of Amazon's secure cloud, we have decided to no longer support this feature.' And, just like that, it has now gone. Thanks Amazon. An Amazon spokesperson said: 'The Alexa experience is designed to protect our customers' privacy and keep their data secure, and that's not changing. We're focusing on the privacy tools and controls that our customers use most and work well with generative AI experiences that rely on the processing power of Amazon's secure cloud.' Well, that's OK then. Or maybe not. While Amazon has said that less than 0.03% of customers used the opt-out feature, it's something that is likely going to be missed now that it isn't available. I've spoken to several security and privacy experts, and none of them are thrilled about the decision. It all comes down to trust, Paul Bischoff, security and privacy advocate at Comparitech, told me. If you don't trust Amazon then the removal of the local processing option will likely make you trust it even less. "Amazon says voice recordings uploaded to the cloud are encrypted and then deleted after they've been transcribed to text,' Bischoff said, so in theory, there shouldn't be much of a difference privacy-wise. Processing using AI uses more power than is available to an Echo device, I get that, but as Bischoff said, "I would have liked to see Amazon expand local transcription to more devices, not remove it.' Of course, truly privacy-centric fold would likely not own an Echo or any such smart device anyway. Erich Kron, security awareness advocate at KnowBe4, agreed when it came to the issue of trust. "Many people already have concerns about the intrusive nature of marketing and advertising, and this is not helping them trust Amazon,' Kron said. Especially given the number of people who post to online forums and social media platforms about their fears of privacy intrusion when a product they have been talking about is served up as an advert online soon after. 'For those that are truly privacy conscious,' Kron warned, 'this may be the last straw when it comes to keeping these devices in the home.' 'With AI hoovering up more data than ever and the goldfish effect in full swing, it feels like we're rewinding the clock,' Ray Walsh, a digital privacy expert at Comparitech, added. When it comes to Amazon quietly removing local processing and storage from Alexa, he concluded it feels like 'a textbook case of a safeguard being stripped away—without consent, without alternatives, and without compensation for users who object.'
Forbes
24-03-2025
- Forbes
New Android, iPhone Warning—Do Not Make This 1 Change Hackers Love
Don't root or jailbreak your smartphone, security researchers have warned. Let's face it: cybercriminals, scammers and hackers hardly need any help when it comes to attacking your smartphone. The facts speak for themselves, with hundreds of dangerous apps finding their way into the Google Play Store, smartphone users deploying the same password across multiple accounts, and deepfake attacks rampant. Now, smartphone threat intelligence experts have warned that users of both Android and iOS devices are doing one thing, without any need for malicious coercion, that makes their smartphones 250 times more likely to be compromised by hackers. Here's what you need to know and what you shouldn't do. I have a total of three smartphones in everyday use here: two iPhones and an Android. All are what are known as plain vanilla devices, running stock versions of the Android and iOS operating systems. This might come as a surprise to those who know me and my love for hacking things. You might think I would have rooted the Android and jailbroken at least one of the iPhones. Truth be told, I have. What I haven't done is take that action on the smartphones that are used every day in my personal and business life, I only root devices that don't carry personal and valuable data. And there's a very good security reason for that, as a new report from Zimperium has just confirmed. 'As cybercriminals have moved to a mobile-first attack strategy, rooting and jailbreaking of mobile devices, originally popular for customization, continues to be a very powerful attack vector,' Ignacio Montamat, a threat analyst for the zLabs team at Zimperium, said. Rooting and jailbreaking involve gaining the deepest access to the operating system, in essence allowing the user to make changes to system files and install pretty much anything they like. To underscore just how dangerous making the decision to root your Android or jailbreak your iPhone can be, Zimperium highlighted recent data from its own zLabs analysis that showed that rooting devices leads to 3.5 times as many malware attacks, which system compromise by hackers rose by an incredible 250 times. "Unfortunately, when a device is jailbroken or rooted, the security that is put in place by default is bypassed,' Erich Kron, a security awareness advocate at KnowBe4, warned, 'and the user of the device is now running everything at an admin permission level.' If you really need to be told how this helps the hackers, Kron explained that as built-in operating system security controls often restrict unknown apps from running, 'you can't simply restore the device to a secure state after installing the application.' This means, dear reader, that the security bypass remains in place in most situations and makes it easier for hackers to attack. 'People who are interested in rooting or jailbreaking devices need to be very aware of the additional risk it puts them at,' Kron concluded, 'especially if this is a device being used on a daily basis.'
