Visa Technologies Officer sold $4,046 at Investing.com

In recent filings with the SEC, Stanley Mbugua, Chief Accounting Officer and Vice President of Finance at WISA Technologies, Inc. (NASDAQ:WISA) sold 2,267 shares of the company’s common stock. The trade comes as WISA stock posted a 19.77% gain over the past week, although it is down 88% year-to-date. The shares traded at an average price of $1.7851 for a total of $4,046. This transaction was conducted to satisfy tax obligations related to equity awards. Following the sale, Mbugua directly holds 67,733 shares at a market value of $17.7 million. As he says Invest Pro Analysis, WISA is currently experiencing rapid cash burn, with an overall financial health score. InvestingPro subscribers can access 14 additional key insights and a comprehensive Pro Research report that provides an in-depth analysis of WISA’s financial position.

In other recent news, Visa Technologies has announced several significant developments. The company reported a significant increase in Q3 revenue, reaching $1.2 million, a 240% year-over-year increase, driven by improved gross margins and a shift to direct-to-consumer sales. Visa Technologies also reduced its inventory by 17 percent, ending the quarter with a strong cash position of $3.9 million.

Visa Technologies Live Event Management Service Provider CompuSystems, Inc. (CSI) made progress in its strategic plans by acquiring This acquisition aims to enhance WiSA’s offerings by integrating CSI’s expertise with Datavault’s ADIO technology. CSI is projected to generate $13 million to $15 million in revenue and $3 million to $4 million in EBITDA by 2025.

The company’s shareholders elected eight candidates to serve as directors until the 2025 annual meeting and approved the appointment of BPM LLP as an independent public accounting firm for the fiscal year ending December 31, 2024. In addition, Visa Technologies acquired Data Vault Holdings Inc. It has approved the purchase of intellectual property and technology assets.

Wisa Technologies also confirmed that Mr. Gary Williams has resigned effectively, replacing Mr. Stanley Mbugua as the new Chief Accounts Officer. The company has extended its warrants, a strategic move to encourage warrant holders to participate in the exercise process, which could increase the company’s equity base.

These are recent developments that indicate strategic activities and management decisions being made in WiSA Technologies.

This article was created by AI Support and reviewed by an editor. See our T&C for more information.