{"id":78597,"date":"2023-10-30T16:36:57","date_gmt":"2023-10-30T20:36:57","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/silynxcom-ltd-seeks-10-million-u-s-micro-ipo-pendingsynx\/"},"modified":"2023-10-30T16:37:01","modified_gmt":"2023-10-30T20:37:01","slug":"silynxcom-ltd-seeks-10-million-u-s-micro-ipo-pendingsynx","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78597","title":{"rendered":"Silynxcom Ltd. Seeks $10 Million U.S. Micro-IPO (Pending:SYNX)"},"content":{"rendered":"
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A Quick Take On Silynxcom Ltd.<\/h2>\n

Silynxcom Ltd. <\/b>(SYNX) has filed to raise $10 million in an IPO of its ordinary shares, according to an SEC F-1 registration statement.<\/p>\n

The firm develops and manufactures tactical communications headsets and communications accessories.<\/span><\/p>\n

I\u2019m on Hold for the Silynxcom Ltd. IPO, but I note the potentially bullish case for the stock post-IPO from the company’s growing order book and pipeline.<\/p>\n

Silynxcom Overview<\/h2>\n

Netanya, Israel-based Silynxcom was founded to develop in-ear communications headsets for a variety of uses, such as military and law enforcement environments.<\/p>\n

Management is headed by Chief Executive Officer Mr. Nir Klein, who has been with the firm since January 2011 and graduated from Tel Aviv University with a B.A. in accounting and economics.<\/p>\n

The company’s products integrate with third-party manufacturers of radios that can be used by soldiers in combat or police in law enforcement situations.<\/span><\/p>\n

As of June 30, 2023, Silynxcom has booked fair market value investment of $21.1 million from investors.<\/p>\n

Silynxcom Customer Acquisition<\/h2>\n

The firm sells its products directly to the Israel Defense Forces (“IDF”) through public bids and through distributors to other markets.<\/p>\n

After the commencement of recent hostilities in Israel and Gaza, the firm has received purchase orders totaling $1.825 million for its products to be supplied to the IDF and to police departments in Israel.<\/p>\n

Silynxcom has also received:<\/p>\n

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“inquiries that we believe will likely be converted into purchase orders amounting to an aggregate of approximately $1.48 million. There is no assurance, however, that any of these inquiries will result in purchases of our products or that any further purchase orders will materialize in connection with this war.”<\/p>\n<\/blockquote>\n

Selling & Marketing expenses as a percentage of total revenue have risen sharply as revenues have increased, as the figures below indicate:<\/p>\n

<\/span><\/p>\n\n\n\n<\/colgroup>\n\n\n\n\n\n
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Selling & Marketing<\/strong><\/p>\n<\/td>\n

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Expenses vs. Revenue<\/strong><\/p>\n<\/td>\n<\/tr>\n

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Period<\/p>\n<\/td>\n

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Percentage<\/p>\n<\/td>\n<\/tr>\n

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Six Mos. Ended June 30, 2023<\/p>\n<\/td>\n

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64.2%<\/p>\n<\/td>\n<\/tr>\n

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2022<\/p>\n<\/td>\n

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9.3%<\/p>\n<\/td>\n<\/tr>\n

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2021<\/p>\n<\/td>\n

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8.9%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

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