Guardforce AI Co. Limited (GFAI) is soaring on the charts today, down -6.77% to trade at $1.24 at last check in premarket trading. On Monday, shares in Guardforce AI (GFAI) rise 18.75% to close the day at $1.33. The volume of shares traded was 22.01 million, which is higher than the average volume over the last three months of 10.25 million. During the trading session, the stock oscillated between $1.07 and $1.48.
Guardforce AI (GFAI) had an earnings per share ratio of -0.18. GFAI’s stock has gained 46.15% of its value in the previous five sessions and moved 148.13% over the past month, but has gained 23.15% on a year-to-date basis. GFAI stock is falling after announcing an acquisition move in China.
What GFAI has been acquiring?
Guardforce AI (GFAI) is a global supplier of comprehensive security solutions with an emphasis on robotics and information security services to complement its well-established secured logistics business. Guardforce AI is a trusted brand name that secures and transports high-value assets for public and private sector enterprises, with more than 40 years of expertise. GFAI creates and distributes cutting-edge technology and services that improve safety and security.
Guardforce AI (GFAI) declared today, the marking of a non-restricting Letter of Intent (“LOI”) with Shenzhen Kewei Robot Technology Co., Limited and Shenzhen Yeantec Co., Limited (all together”).
- GFAI marked the LOI to buy up to 36 of the Kewei Group’s auxiliaries situated in China.
- Under the LOI, in the first of two stages, GFAI will gain eight of the Kewei Group organizations.
- The subsequent stage gives GFAI the right of first refusal to buy the leftover 28 organizations inside a time of two years from the date of the marking of the LOI.
- The acquisition of 28 extra organizations will be subject to the Company’s functional plans.
- GFAI hopes to consent to the conclusive arrangement for the stage one acquisitions before the finish of May.
Price tag and payment mode
- The price tag for the eight-stage one organizations will be founded on a valuation that is equivalent to one-time (from 2022 to 2026) extended normal incomes for the eight organizations assessed to be the U.S. $30 million.
- GFAI will pay the securing sum in a blend of money (10%) and Company confined shares (90%) at a cost of U.S. $2.00 per share.
How this securing will help Guardforce grow?
Guardforce AI (GFAI) is in a novel situation to loan its worldwide openness to the obtained organizations. The acquisitions won’t just empower us to infiltrate the most evolved urban communities and regions in China, yet in addition give admittance to advancing business sectors. Seven of the eight GFAI-target organizations are grounded with experienced salesforce and supervisory groups that give mechanical technology deals and rental administrations, serving clients in an assortment of ventures like neighborliness, medical care, government offices, and property the board.