Moving Image Technologies Inc Stock Price, News & Analysis

Moving iMage Technologies (NYSE: MITQ) will present at the 14th annual LD Micro Main Event on October 14, 2021, at 6:00 AM PST. Co-founder Joe Delgado will discuss the company's technological role in cinema and live events, and the anticipated market recovery in 2022 and beyond. The conference, held virtually from October 12-14, features around 150 companies, each presenting for 25 minutes. For registration and event details, visit here.

Moving iMage Technologies (MITQ) has successfully reduced approximately $3.1 million in debt, significantly improving its balance sheet by eliminating nearly all liabilities. This strategic move is expected to yield annual interest expense savings of around $0.3 million. The company used its existing cash reserves for this debt repayment, without relying on funds from its July 12, 2021 IPO. Remaining debt consists of a PPP loan, which is anticipated to be forgiven, further enhancing MITQ's financial position.

Moving iMage Technologies (NYSE: MITQ) is showcasing its innovative products at CinemaCon 2021, held August 23-26 in Las Vegas. Key offerings include:

• CineQC management application for auditorium checks and quality control.
• ALMS/ALF LED lighting solutions for energy-efficient lighting.
• IS-20/30 power management products for protecting equipment.
• iMage Translator system for multi-language accessibility.
• FLEX AV solutions for scalable events.

Visit MiT at booth 2101A.

Moving iMage Technologies (NYSE: MITQ) has secured a contract with Alamo Drafthouse Cinema to furnish their new Staten Island location with state-of-the-art projection and sound equipment, following a previous contract for a Washington, D.C. theater. This project will feature MiT's proprietary equipment, along with products from Barco, QSC, and GDC. The new nine-screen cinema marks a significant step in performance and energy efficiency, utilizing advanced Barco SP4k RGB laser projectors. Delays due to the pandemic have postponed the project by over a year.

Moving iMage Technologies (NYSE: MITQ) announces that Frank Tees has been appointed President of the International Cinema Technology Association (ICTA). Tees, who will maintain his role at MiT, has been instrumental in ICTA's growth and has served on its Board for approximately a decade. The ICTA represents cinema technology companies and is pivotal in advancing new technologies within the theatrical market. This leadership role enhances MiT's visibility and credibility in the industry, aligning with its focus on innovative equipment and solutions.

Moving iMage Technologies (NYSE: MITQ) has successfully closed its upsized public offering, selling 4,830,000 shares at $3.00 per share, raising approximately $14.5 million. This includes 630,000 additional shares purchased under the underwriter's over-allotment option. The proceeds will primarily fund sales and marketing expansion and may assist in strategic acquisitions, although no targets have been identified yet. The shares commenced trading on the NYSE American on July 8, 2021.