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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): November 13, 2025 (November 12, 2025)

 

LogicMark, Inc.

(Exact name of registrant as specified in its charter)

 

Nevada   001-36616   46-0678374
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

2801 Diode Lane
Louisville, KY
  40299
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (502) 442-7911

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
-   -   -

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On November 12, 2025, LogicMark, Inc., a Nevada corporation (the “Company”), issued a press release announcing its financial and operational results for the quarter ended September 30, 2025, recent business highlights and corporate developments, and an investor webcast that occurred on November 12, 2025 to discuss such results and update shareholders on general corporate developments. The press release and the transcript of the investor webcast are attached as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K (this “Form 8-K”) and are incorporated herein by reference.

 

The information contained in this Form 8-K provided under Items 2.02 and 7.01 and Exhibits 99.1 and 99.2 attached hereto are furnished to, but shall not be deemed filed with, the U.S. Securities and Exchange Commission or incorporated by reference into the Company’s filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

 

Item 7.01 Regulation FD Disclosure.

 

Reference is made to the disclosure in Item 2.02 of this Form 8-K, which disclosure is incorporated herein by reference.

 

Forward-Looking Statements

 

Exhibits 99.1 and 99.2 attached hereto contain, and may implicate, forward-looking statements regarding the Company, and include cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Press release, dated November 12, 2025.
99.2   Transcript of the Company’s investor webcast held on November 12, 2025.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: November 13, 2025 LogicMark, Inc.
     
  By: /s/ Mark Archer
  Name:  Mark Archer
  Title: Chief Financial Officer

 

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Exhibit 99.1

 

 

LogicMark, Inc. Announces Third Quarter 2025 Results

Revenue increases 8% Year-Over-Year and 9% Year-To-Date

 

Louisville, KY., November 12, 2025 --  LogicMark, Inc.(OTC: LGMKD) (the Company), a provider of personal safety and emergency response systems (PERS), health communications devices, and technology for the growing care and safety economy, today announced financial and operational results for the third quarter ended September 30, 2025.

 

Summary Highlights:

 

Revenues increased 8% to $2.9 million in the third quarter of 2025, compared with the comparable prior-year period.

 

Gross margin remained strong at 66%, relatively unchanged both on a year-over-year and year-to-date basis.

 

Total cash operating expenses increased modestly by $0.2 million or 5%, compared with the prior-year period.

 

Cash and investments totaled $11.7 million as of September 30, 2025, with no long-term debt.

 

Launched Medication Reminders and Activity Metrics on Freedom Alert Max, enabling caregivers to track health issues and powering AI-enabled proactive technology.

 

Chia-Lin Simmons, Chief Executive Officer of LogicMark, commented, “Third-quarter results reflect steady execution, with year-over-year sales growth and revenue increases in five of the past six quarters. An ongoing shift toward business-to-business channels and stronger reseller momentum supported this performance. At the same time, we maintained disciplined spending while investing in commercial leadership to support sustainable growth.

 

From a product perspective, our technology has advanced through the integration of Medication Reminders and Proactive Activity Metrics features into our Freedom Alert Max combination PERS unit and cell phone. Collectively, these services advance our AI strategy — a platform that reflects each user’s real-world behaviors to identify potential concerning health patterns, risks, and falls, and to support proactive care interventions.

 

Our recent national safety survey confirmed what we have always believed: when it comes to people you love, safety, simplicity, and real-time visibility are non-negotiable. These key principles are guiding our product roadmap and channel decisions and align with our mission to deepen value for seniors, caregivers, and our healthcare partners, including U.S. veterans. In that same spirit, and in observance of the Veterans Day holiday, we extend our gratitude to all veterans and their families and reaffirm our commitment to serving them through our VA channels,” concluded Ms. Simmons.

 

 

 

Third Quarter 2025 Results

 

Revenue for the third quarter ended September 30, 2025, was $2.9 million, up 8% compared with $2.7 million of revenue for the same period last year. The primary reason for the increase in revenue was continued strong sales of the Freedom Alert Mini units launched in 2024 and the recently upgraded Guardian Alert 911 Plus.

 

Gross profit in the third quarter of this year was $1.9 million, up from $1.8 million in the same quarter last year. Gross margin remained strong and stable at 66% for the three and nine months ended September 30, 2025.

 

Total operating expenses were $3.7 million in the third quarter of 2025, up from $3.4 million in the third quarter of 2024. This increase reflects added sales personnel, including a senior vice president of sales hired in June 2025 and a vice president of business development hired in September.

 

Net loss for the third quarter was $1.7 million, up slightly from the same period last year. On a fully diluted per share basis, the loss per share was $2.21 compared with $3,732.56 per share for the same period the previous year. The net loss per share figures reflect the impact of a reverse stock split completed in October 2025, which required retroactive adjustment of the current and prior period share counts.

 

At the end of the third quarter of 2025, the Company reported cash and investments of $11.7 million and no long-term debt.

 

Investor Call and SEC Filings

 

Ms. Chia-Lin Simmons, CEO, and Mr. Mark Archer, CFO, will host a live investor call and webcast on Wednesday, November 12, 2025, at 1:30 p.m. (PST) / 4:30 p.m. (EST) to review the Company’s financial results for the third quarter of 2025.

 

To listen to the live webcast, please visit the LogicMark Investor Relations website or use the link: https://edge.media-server.com/mmc/p/vutg6m9o

 

Analysts and investors wishing to participate in the live call should register here:

https://register-conf.media-server.com/register/BIb61bd453b93d4ef2b8fb16759814c1a3

 

The associated press release, SEC filings, and webcast replay will also be accessible on the investor relations website. 

 

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About LogicMark, Inc.

 

LogicMark, Inc. (OTC: LGMKD) delivers advanced personal safety and medical alert solutions for people of all ages, empowering them to live with dignity and independence. With over 44 patents issued or pending, our proprietary Connected Care Platform integrates IoT devices, AI-powered sensors, and machine learning to enable real-time remote patient monitoring, fall detection, and instant caregiver alerts. LogicMark delivers secure, reliable connected care solutions through the U.S. Department of Veterans Affairs, resellers, business-to-business and direct-to-consumer channels, and through a U.S. General Services Administration (GSA) Multiple Award Schedule contract, enabling procurement by federal, state, and local governments. Learn more at www.logicmark.com

 

Following the recent reverse stock split, the Company is currently trading under the symbol LGMKD and expects to resume trading under LGMK upon FINRA’s completion of the symbol change process on or about November 17, 2025.

 

Cautionary Statement Regarding Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to, among other things, the Company’s financial results for the third quarter of 2025 and related call and webcast, and the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the need and availability of financing; the Company’s ability to implement its long-range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the SEC. There can be no assurance that a broker will continue to make a market in the Company’s common stock or that trading of the common stock will continue on an over-the-counter market or elsewhere. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may differ materially from those described in this press release as intended, planned, anticipated, believed, estimated, or expected. Any forward-looking statement made by us in this press release is based on information currently available to us and speaks only as of the date on which it is made. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances, or assumptions underlying such statements, or otherwise.

 

Investor Relations Contact 

 

investors@logicmark.com

 

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LogicMark, Inc.
CONDENSED BALANCE SHEETS
(Unaudited)

 

   September 30,   December 31, 
   2025   2024 
Assets        
Current Assets        
Cash and cash equivalents  $4,117,556   $3,806,915 
Investments   7,568,066    - 
Accounts receivable, net   8,261    4,355 
Inventory   1,049,133    1,048,963 
Prepaid expenses and other current assets   778,593    476,672 
Total Current Assets   13,521,609    5,336,905 
           
Property and equipment, net   67,161    112,605 
Right-of-use assets, net   336,622    48,641 
Product development costs, net of amortization of $724,016 and $397,340, respectively   1,166,823    1,384,172 
Software development costs, net of amortization of $953,029 and $428,803, respectively   2,532,568    2,019,090 
Goodwill   3,143,662    3,143,662 
Other intangible assets, net of amortization of $6,999,652 and $6,428,305, respectively   1,604,915    2,176,262 
Total Assets  $22,373,360   $14,221,337 
           
Liabilities, Series C Redeemable Preferred Stock and Stockholders’ Equity          
           
Current Liabilities          
Accounts payable  $657,755   $750,336 
Accrued expenses   1,248,937    1,053,301 
Deferred revenue   501,573    225,195 
Total Current Liabilities   2,408,265    2,028,832 
Other long-term liabilities   323,429    - 
Total Liabilities   2,731,694    2,028,832 
           
Commitments and Contingencies (Note 9)          
           
Series C Redeemable Preferred Stock          
Series C redeemable preferred stock, par value $0.0001 per share: 2,000 shares designated; 1 share issued and outstanding as of September 30, 2025 and December 31, 2024, respectively, aggregate liquidation preference of $2,000,000 as of September 30, 2025 and December 31, 2024, respectively   1,807,300    1,807,300 
           
Stockholders’ Equity          
Preferred stock, par value $0.0001 per share: 80,000,000 shares authorized          
Series F preferred stock, par value $0.0001 per share: 1,333,333 shares designated; 106,333 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively, aggregate liquidation preference of $319,000 as of September 30, 2025 and December 31, 2024, respectively   319,000    319,000 
Series H preferred stock, par value $0.0001 per share: 1,000 shares designated; 0 shares issued and outstanding as of September 30, 2025 and 310 shares issued and outstanding as of December 31, 2024. Aggregate liquidation preference of $0 and $472,245 as of September 30, 2025 and December 31, 2024, respectively   -    472,245 
Series I preferred stock, par value $0.0001 per share: 1,000 shares designated; 0 shares issued and outstanding as of September 30, 2025 and 310 shares issued and outstanding as of December 31, 2024   -    - 
Common stock, par value $0.0001 per share: 800,000,000 shares authorized; 768,407 and 3,198 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively   77    - 
Additional paid-in capital   132,549,088    118,758,596 
Accumulated deficit   (115,033,799)   (109,164,636)
Total Stockholders’ Equity   17,834,366    10,385,205 
           
Total Liabilities, Series C Redeemable Preferred Stock and Stockholders’ Equity  $22,373,360   $14,221,337 

 

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LogicMark, Inc.
CONDENSED STATEMENT OF OPERATIONS
(Unaudited)

 

   For the Three Months Ended September 30,   For the Nine Months Ended September 30, 
   2025   2024   2025   2024 
Revenues  $2,915,081   $2,705,461   $8,360,116   $7,652,813 
Costs of goods sold   996,015    903,834    2,868,522    2,529,018 
Gross Profit   1,919,066    1,801,627    5,491,594    5,123,795 
                     
Operating Expenses                    
Direct operating cost   370,384    359,044    1,064,462    1,010,624 
Advertising costs   71,427    114,795    292,412    402,229 
Selling and marketing   852,298    599,306    2,072,646    1,792,337 
Research and development   161,441    96,650    455,045    404,108 
General and administrative   1,683,594    1,727,550    6,263,347    5,609,510 
Other expense   11,331    101,013    75,366    254,770 
Depreciation and amortization   504,955    402,821    1,498,426    1,126,346 
                     
Total Operating Expenses   3,655,430    3,401,179    11,721,704    10,599,924 
                     
Operating Loss   (1,736,364)   (1,599,552)   (6,230,110)   (5,476,129)
                     
Other Income                    
Interest income   138,928    41,109    317,791    134,286 
Other (expense) income   (28,069)   39,638    43,156    39,638 
Total Other Income   110,859    80,747    360,947    173,924 
                     
Loss Before Income Taxes   (1,625,505)   (1,518,805)   (5,869,163)   (5,302,205)
Income tax expense   -    -    -    - 
Net Loss   (1,625,505)   (1,518,805)   (5,869,163)   (5,302,205)
Preferred stock dividends   (75,000)   (75,000)   (225,000)   (225,000)
Net Loss Attributable to Common Stockholders   (1,700,505)   (1,593,805)   (6,094,163)   (5,527,205)
                     
Net Loss Attributable to Common Stockholders Per Share - Basic and Diluted  $(2.21)  $(3,732.56)  $(11.98)  $(25,123.66)
                     
Weighted Average Number of Common Shares Outstanding - Basic and Diluted   768,407    427    508,555    220 

 

 

 

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Exhibit 99.2

 

LogicMark, Inc. (Q3 2025 Results)

 

November 12, 2025

 

Corporate Speakers:

 

Chia-Lin Simmons; LogicMark; Chief Executive Officer
   
Mark Archer; LogicMark; Chief Financial Officer

 

PRESENTATION

 

Operator: Good afternoon. And thank you for participating in today’s LogicMark Third Quarter 2025 Conference Call.

 

Today, our speakers will be Chia-Lin Simmons, Chief Executive Officer, and Mark Archer, Chief Financial Officer.

 

During this call, management will be making forward-looking statements, including statements that address LogicMark’s expectations for future performance or operational results and anticipated product launches.

 

Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements.

 

For more information about these risks, please refer to the risk factors described in LogicMark’s most recently filed annual report on Form 10-K and subsequent periodic reports filed with the SEC and LogicMark’s press release that accompanies this call, particularly the cautionary statements in it.

 

Statements made on this call may include reference to non-GAAP financial measures as defined in Regulation G of the Securities Exchange Act of 1934 including adjusted EBITDA which is reconciled to the most directly comparable GAAP financial measures.

 

Management believes that non-GAAP adjusted EBITDA provides investors with insight into the company’s overall operating performance.

 

The content of this call contains accurate time-sensitive information only as of today, November 12, 2025.

 

Except as required by law, LogicMark disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call.

 

It is now my pleasure to turn the call over to Chia-Lin Simmons.

 

Please go ahead.

 

 

 

 

Chia-Lin Simmons: Thank you, Daniel. Good afternoon, everyone. And thank you for joining our call today.

 

At LogicMark, we’re doing something important, helping people live independently, while staying connected to the caretakers and loved ones who matter most. Our personal emergency response systems and safety devices are built on three core principles: safety, dignity, and independence because connected care should be both intelligent and deeply human.

 

Over the past year, we’ve been intentional about evolving our business model. We’re moving beyond selling stand-alone devices to building a comprehensive platform that layers subscription monitoring, predictive analytics, and actionable insights on top of our proven hardware foundation. This isn’t just a business shift. It’s fundamental to our long-term growth strategy. By expanding lifetime customer value, deepening caregiver engagement, and creating recurring revenue streams, we’re building a more sustainable business that better serves the people who depend on us.

 

As you saw in today’s release, our third-quarter results reflect steady execution. We delivered year-over-year sales growth and revenue increases in five of the last six quarters, a significant milestone that shows the durability of our strategy.

 

What’s contributing to this performance? Two things: strong sales to our VA partners, and our continued shift towards B2B channels. We’ve been deliberate about focusing our efforts on the areas where we see the strongest returns: our VA and government contracts, our nationwide dealer and reseller network, and our growing base of health care-oriented partners.

 

At the same time, we’ve maintained disciplined spending while investing in the areas that support sustainable growth. Our balance sheet remains healthy, giving us the flexibility to continue investing in innovation and infrastructure.

 

Let me talk about where we focused our execution this year. Simplifying, prioritizing, and aligning around the channels and offerings that create the highest value.

 

Within the VA and Government segment, we continue to build on our General Services Administration GSA contract, which enables sales to federal, state, and local entities. These partnerships remain a steady and important mission-aligned part of our business, helping us serve veterans, first responders, and seniors who benefit most from accessible technology-enabled safety solutions.

 

In the dealer and reseller channel, we’re deepening engagement through new enablement tools and joint marketing initiatives to drive higher attach rates for subscription monitoring and digital care features.

 

And within direct-to-consumer e-commerce, including our own website and Amazon, we’re refining our messaging and improving conversion rates. Together, these channels form a balance, scalable go-to-market engine that positions LogicMark for consistent revenue growth and expanding services adoption.

 

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This quarter, we’ve achieved significant progress with new products, launching two key innovations, medicine reminders and activity metrics. These features evolve LogicMark’s approach from not just providing excellent reactive safety technology but also to start providing proactive analytics, and that distinction is crucial.

 

Let me explain what these do. The LogicMark predictive activity metrics leverages our proprietary algorithms to identify subtle changes in user behavior that may indicate increased risk of falls or medical events. This technology allows caregivers to intervene earlier, reducing the risk of emergencies and improving the quality of life.

 

Medication reminders allow caregivers to schedule doses directly to the user’s device, eliminating the need for separate apps and streamlining medication adherence.

 

These advances are part of our AI-enabled care and analytics platform. Think of it as a platform that holds a virtual digital twin model that mirrors each user’s real-world patterns to evaluate pattern differences and potential risks and helps to provide proactive intervention data to caretakers. Over time this AI-enabled platform evolves into a continuous learning ecosystem that connects those being cared for, caregivers and their data in a unified feedback loop.

 

We’re protecting our technology innovation through a growing intellectual property portfolio. LogicMark has filed 44 patents, of which 24 have been issued. Of these patents, 22 have been filed since June of 2021.

 

We have additional pending patent filings covering device architecture, fall detection algorithms, and caregiver communications frameworks. Those additional applications in preparation helped us to continue to strengthen and maintain our position as a leading innovator in the personal safety and care technology space.

 

LogicMark recently commissioned a national safety survey with a third-party research firm, and the findings reinforce what we hear every day from our customers and caregivers. Three things stand out. People want safety solutions they can trust, simplicity they can manage, and the visibility that keeps their loved ones informed.

 

The market is clearly validating this direction. These insights are guiding both our product roadmap and our go-to-market messaging. We’re designing technology that removes barriers, solutions that work without complexity.

 

The survey also revealed that what matters most when people choose a personal safety system is trust in the brand, the ease of setup, and alert reliability. Those top decision factors — quality, ease of use, and service reliability — are areas that LogicMark has already been focused on. And we believe they also further differentiate us in the market.

 

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At its core, LogicMark’s mission is to deliver safety, independence and peace of mind for everyone we serve. From college students to seniors aging in place, to veterans transitioning to independent living. Every device we build, every service we design and every partnership we pursue flows from that purpose.

 

Following our observation of Veterans Day this week, we extend our gratitude to veterans and their families and reaffirm our commitment to serving them through our VA channels and partners. Supporting those who have served our country is part of our company’s DNA and a powerful example of how mission and market opportunities align.

 

Looking ahead, our priorities remain clear.

 

One, increased adoption of bundled monitoring and subscription services to expand recurring revenue. Two, advanced the LogicMark AI-enabled care and analytics platform to continue to move from not just reactive alerts, but also to proactive care. And three, strengthen go-to-market execution focused on VA government and B2B distributor partner channels.

 

LogicMark is entering the next phase of its transformation, one where product innovation, AI, data analytics, and channel optimization come together to create durable, compounding value.

 

Before I turn it over to Mark, I want to thank a few people: our employees for their commitment and creativity, our customers for their trust, and our partners for their collaboration. Together, we’re redefining connected care with purpose, position and compassion.

 

With that, I’ll hand the call over to Mark for a summary of our financial results.

 

Mark Archer: Thank you, Chia-Lin.

 

Our third quarter results reflect disciplined execution and steady year-over-year progress. Revenue rose 8% to $2.9 million compared with $2.7 million a year ago. Our sales to the VA remain strong despite all the headwinds coming from Washington.

 

Our updated version of the Guardian Alert 911 Plus, now with fall detection, has exceeded our expectations and sales of the Freedom Alert Mini introduced last year continued to grow.

 

Gross profit increased to $1.9 million, and the gross margin remained strong at 66%, relatively unchanged year-over-year and on a year-to-date basis. We have now transferred the manufacturing of our two most popular units from China to Taiwan.

 

Turning to operating expenses for the third quarter. We reported $3.7 million, up modestly from $3.4 million compared with the prior year period, as we continued investing in commercial leadership and software innovation while seeking to maintain cost controls in other areas. This resulted in an operating loss of $1.7 million compared with $1.6 million last year.

 

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The net loss per share after preferred stock dividends was $1.7 million or $2.21 per share, versus a net loss of $1.6 million or $3,732 per share in the prior year period. The prior year loss per share has been adjusted to reflect the 1-for-750 reverse stock split that was completed on October 24, 2025.

 

The company is currently trading under the symbol LGMK.D on the OTC market. We expect to resume trading on or about November 17 under the old ticker symbol LGMK, upon FINRA’s completion of the symbol change process.

 

We know that long-term value will come from revenue growth and strong execution, and we continue to focus on these important KPIs.

 

We ended the quarter with $11.7 million in total liquidity and continue to operate with no long-term debt.

 

At this time, I’d like to turn the call over to the Q&A portion.

 

QUESTIONS AND ANSWERS

 

Operator: (Operator Instructions) I’m showing no questions at this time.

 

I would now like to turn it back to Chia-Lin Simmons for closing remarks.

 

Chia-Lin Simmons: Thank you, Daniel. In closing, our focus is clear. We’re executing a targeted business plan with clear priorities, expanding our VA and government relationships, strengthening our B2B distributor and partner network, improving our direct-to-consumer channels and subscription services, and continuing to innovate in AI and machine learning software and hardware.

 

With a solid balance sheet and increasing revenue, we’re well-positioned to continue delivering progress. Thank you again to our shareholders, customers, partners, and entire LogicMark team.

 

I appreciate your time.

 

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.

 

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