Algorhythm Holdings, Inc. (RIME) Analysis

Algorhythm (RIME) Holdings announced the date of effectiveness and the ratio of a forthcoming reverse stock split of the Company’s Common Stock. On January 13, 2025, the Company announced, on a Current Report on Form 8-K, the voting results from the annual meeting of stockholders held that day. At the Meeting, stockholders voted upon and approved Proposal 3, an amendment to the Company’s Certificate of Incorporation to effect a Reverse Split with a ratio of not less than one-for-ten and not more

This morning pre-market, Algorhythm Holdings announced what many of us have been hoping for - they sold the karaoke business! They banked $4.5m cash, offloaded $4m in trade liabilities, and - the kicker, their SemiCab Business has tripled its Revenue Run Rate since January This means: that cash position people have been worrying about potentially causing a need for additional dilution is solved The dwindling karaoke revenue and sustained high head count is solved The distraction of running a...

This morning $RIME announced yet another contract expansion in India. What used to be a declining sales Karaoke company (getting hammered by Amazon and other cheaper options) is emerging as an AI algorithm holding company. SemiCab and SemiCab India are subsidiaries of Algorhythm Holdings ($RIME), and they have had a more than 4x increase in revenue run rate earlier this year through 4 contract expansions. This morning they announced that their 2023-2024 pilot with the Indian branch of Kello...