Universal Security Instruments Stock Price, News & Analysis

Universal Security Instruments, Inc. (NYSE Amex: UUU) reported its financial results for the quarter ending June 30, 2022, revealing sales of $4,635,304, a slight decrease from $4,667,998 year-over-year. The company faced a net loss of $106,138 or $0.05 per share, contrasting with a net income of $14,641 or $0.01 per share during the same quarter last year. Factors contributing to the loss included increased freight costs and higher professional fees due to an impending merger and ongoing supply chain challenges.

Universal Security Instruments, Inc. (UUU) reported financial results for Q4 and fiscal year ending March 31, 2022. Q4 sales rose to $4.29 million, a 43.1% increase, with a reduced net loss of $235,838 ($0.10 per share). For the fiscal year, sales reached $19.55 million, up 11.6%; however, the company posted a net loss of $78,150 compared to a profit of $268,343 in the previous year, largely influenced by a prior loan forgiveness. Supply chain disruptions have pressured gross margins, impacting profitability.

On July 5, 2022, Infinite Realty finalized a $470 million acquisition of ReKTGlobal, an esports and entertainment conglomerate, enhancing its position in the Metaverse with a combined valuation of $2.47 billion. The deal integrates ReKT's established esports franchises, including Team Rogue and London Royal Ravens, into Infinite Realty's offerings. This strategic move aims to foster innovation in digital entertainment and strengthen brand relationships across platforms, leveraging ReKT's leadership and marketing expertise.

On May 18, 2022, Infinite Realty and Universal Security Instruments (NYSE: UUU) filed a Registration Statement on Form S-4 with the SEC regarding their proposed merger. Under the agreement, Infinite Realty shareholders will become majority owners of USI's stock. The merger is pending approval from both companies' shareholders, SEC clearance, and stock exchange approval. If successful, the merged entity will operate as Infinite Reality and continue trading on the NYSE. This merger is seen as crucial for establishing Infinite Reality as a leader in the Metaverse sector.

Infinite Realty, Inc. announced a definitive merger agreement to acquire ReKTGlobal, Inc. for $470 million in an all-stock transaction. This merger values Infinite Realty at $2 billion, with a combined post-close valuation of $2.47 billion. The acquisition aims to enhance Infinite Realty's presence in the Metaverse entertainment space by integrating ReKTGlobal's esports franchises, marketing services, and technology products. The deal is subject to ReKTGlobal shareholder approval and regulatory clearance.

On March 10, 2022, Infinite Reality, Inc. will hold a video conference call to announce its planned merger with Universal Security Instruments (NYSE: UUU). The call, hosted by CEO John Acunto, takes place at 4:15 PM Eastern and will be broadcast live from the Metaverse. The presentation can also be accessed later for replay. Infinite Reality aims to empower brands and creators through innovative digital solutions, while Universal Security Instruments is known for safety and security device manufacturing.

Infinite Realty has announced a Standby Equity Purchase Agreement with Yorkville Global Advisors for up to $200 million in equity financing, contingent on a merger with Universal Security Instruments (NYSE: UUU). This merger is pending shareholder approval and regulatory clearance. The CEO, John Acunto, emphasized the importance of this agreement in supporting creators in the Metaverse economy. The partnership aims to empower content creators and enhance monetization opportunities in social media and the Metaverse.

Infinite Reality, a new Metaverse innovation and entertainment company, will host a video conference call on March 10, 2022, at 4:15 PM ET. The call will be led by CEO John Acunto and will focus on the company's planned merger with Universal Security Instruments (NYSE: UUU). Participants can join the call via an online link, with contact details provided for inquiries. The presentation will also be available for replay after the event.

Universal Security Instruments (UUU) has entered into a merger agreement with Infinite Reality, a Metaverse-focused company. This merger will result in Infinite Reality shareholders owning approximately 97% of USI's stock post-merger. The deal is subject to approval from shareholders and SEC clearance, with completion expected in Q2 2022. USI aims to enhance its value through this partnership, which focuses on the growing Metaverse and social commerce sectors. Infinite Reality has secured over $50 million in financing to support its ambitions.