Paltalk Utilizes ClearThink to Lead Expanded Investor Relations Program
Sep 29, 2021 By MarketDepth
Paltalk, Inc. (NASDAQ: PALT) has retained ClearThink Capital to deploy and develop an investor outreach and communications program. “We believe we are now ready to enter the next growth phase of our business, as we successfully achieved our Nasdaq listing, and have a strong balance sheet with $6.5 million cash and no long-term debt as of June 30, 2021 and subsequently raised approximately an additional $3.5 million in connection with our recent underwritten public offering,” stated, Jason Katz, Chairman and Chief Executive Officer of Paltalk. Since we re-focused on our live video chat business, we have recorded five consecutive quarters of at least $3.3 million revenue and $0.4 million operating income. While we continue our focus on software development and sales growth, we remain active in looking for strategic and accretive acquisitions to accelerate our growth and profitability.”
Katz, continued, “As we look to all of this positive momentum, our Board and management believe it is an appropriate time to retain a proactive strategic investor relations firm to help us reach new potential investors and effectively communicate our investment thesis. We are confident that ClearThink will help us more effectively communicate our strategy, business objectives and corporate milestones to a wider audience of sophisticated investors and improve our visibility and awareness.” Brian Loper, Senior VP and Account Manager of ClearThink, commented, “Under Jason’s leadership, Paltalk has re-focused its business, returned to growth and reached consistent profitability. With a strong balance sheet, expectation of sustainable profitability and a strategic M&A plan, we believe Paltalk’s investment proposition is compelling, and the ClearThink team is eager to elevate the company’s IR efforts. These efforts will include implementing a comprehensive targeting strategy to communicate a more clear and concise message to an expanded audience of relevant investors that we expect, over time, should help unlock and drive stockholder value.