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WaveDancer, Inc. (NASDAQ: WAVD) has sold its blockchain supply chain management subsidiary, Gray Matters, Inc. (GMI), to Gray Matters Data Corporation (GMDC), backed by StealthPoint, LLC. The transaction includes a $3 million cash investment in GMDC and annual contingent payments of up to $4 million over seven years. WaveDancer retains a 20% interest in GMI and will benefit from over $2 million in eliminated operating expenses. The company plans to explore strategic options, including potential mergers or sales, following the cash infusion. CEO Jamie Benoit noted challenges faced with GMI's product and capital raising efforts as key factors in the decision.
WaveDancer (NASDAQ: WAVD) announced nearly $500k in revenue from a U.S. government contract implementing its blockchain-enabled supply chain management platform. This technology enhances security, visibility, and auditability throughout the supply chain. CEO Jamie Benoit emphasized the importance of an easy-to-use interface that leverages blockchain transparency. The platform includes smart contracts and AI insights for complex supply chain challenges. Moreover, WaveDancer's solutions are available on AWS Marketplace for GovCloud.
WaveDancer (NASDAQ: WAVD) announced a multi-year agreement that is expected to generate over $500,000 in subscription revenue for its Maverix Blockchain platform. The new customer operates a complex global supply chain and chose Maverix for its advanced capabilities in tracking and managing high-value products securely. Randy Boone, Chief Revenue Officer, highlighted the software's unique features in offering enhanced traceability and transparency compared to traditional ERP systems. The company's platform operates on Amazon Web Services (AWS) Marketplace for GovCloud.
WaveDancer (NASDAQ: WAVD) has launched a new website showcasing its Maverix platform, a blockchain-enabled supply chain management solution. The platform aims to enhance supply chain visibility, security, and trust by providing a modular, extensible structure built on Hyperledger Fabric. Maverix offers various features including predictive analytics and encrypted communications. The system was originally developed for a US Intelligence agency, demonstrating its reliability and effectiveness in complex supply chains. Investors should note potential risks associated with forward-looking statements in the release.
WaveDancer (NASDAQ: WAVD) will host a LinkedIn Live webinar on November 30, 2022, at 1 PM EST, focusing on the value of blockchain in supply chain management. Led by Gracie Carter, WaveDancer's head of product, the session aims to highlight the benefits of incorporating blockchain into supply chain processes, providing enhanced transparency, security, and trust. The webinar will cover how WaveDancer's MaverixTM solution integrates with existing systems for improved track & trace capabilities. Registration is available on the company's LinkedIn page.