Akerna Corp. Stock Price, News & Analysis

Gryphon Digital Mining is gearing up to present at the Ladenburg Thalmann Technology Expo 2023 in New York on April 27, 2023, at 12:30 pm ET. The presentation will be led by CEO Rob Chang, focusing on the proposed merger with Akerna Corp (NASDAQ: KERN) and Gryphon's operational achievements in the bitcoin mining sector. The company promotes a net carbon-neutral approach in its mining operations.

Attendees can access a live webcast of the presentation online. The Expo will showcase around 50 tech companies across various sectors, fostering a platform for interaction between management teams and investors.

For further details, Gryphon encourages stakeholders to stay updated through their official website.

Akerna (Nasdaq: KERN) announced an unsolicited acquisition proposal deemed superior by its Board of Directors. This decision leads to the termination of a previous agreement to sell its software business to POSaBIT. The Board consulted financial and legal advisors, concluding that the new proposal enhances shareholder value. Gryphon Digital Mining, Inc. endorsed this decision, indicating that it will benefit stockholders post-transaction. The undisclosed party will pay the termination fee associated with the POSaBIT agreement. Further details will be shared as negotiations progress and regulatory approvals are secured.

Akerna (KERN) reported its unaudited financial results for Q4 and the full year 2022, highlighting a total revenue decline of 30% year-over-year for Q4 to $2.8 million, and 23% for the full year to $13.6 million. Software revenue also fell by 24% in Q4 to $2.8 million, with a full-year total of $12.9 million, down 19%. The company recorded a net loss of $25.2 million in Q4, widening from a loss of $17.2 million in the previous year. Akerna's gross profit decreased to $1.6 million in Q4, although gross margin improved to 57%. The firm announced the sale of its 365 Cannabis and Last Call Analytics businesses for approximately $2.9 million and a merger with Gryphon Digital Mining to form a carbon-neutral bitcoin miner.

Akerna (Nasdaq: KERN) has provided updates on its strategic transactions with POSaBIT and Gryphon Digital Mining. The company plans to file an S-4 registration statement in 40 days, detailing the concurrent sales of MJ Freeway and Ample Organics to POSaBIT, along with the merger with Gryphon. Akerna intends to submit its annual Form 10-K before this filing. Gryphon is noted for its strong revenue generation, achieving a hashrate of 750 Ph/s and mining 822 bitcoins last year. Additionally, it ranks among the top three bitcoin miners in efficiency and operates with a carbon-negative footprint.

Akerna (Nasdaq: KERN) announced on February 1, 2023, that it has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share. Previously, on May 24, 2022, Nasdaq notified Akerna that its stock had failed to meet this requirement. However, as of January 27, 2023, Akerna’s stock closed at $1.00 or higher for ten consecutive days, leading to Nasdaq's confirmation of compliance. Akerna also indicated ongoing proposed transactions with Gryphon and POSaBIT, with plans to file relevant materials with the SEC, including a registration statement on Form S-4, detailing these transactions.

POSaBIT Systems Corporation announced securing up to $11 million in debt and equity financing to fund its acquisition of MJ Platform, Leaf Data Systems, and Ample Organics from Akerna Corp. for US$4 million in cash. This strategic move is expected to significantly enhance POSaBIT’s market presence, doubling its merchant locations to nearly 900 and increasing revenue generation potential to approximately US$11 million with US$6.8 million in gross profit for the 2022 fiscal year. The acquisition, set to close in Q2 2023, will introduce new revenue streams and expand operations into Canada.