UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

 

For the month of: May 2022

 

Commission file number: 001-39557

 

SIYATA MOBILE INC.

(Translation of registrant’s name into English)

 

2200 - 885 West Georgia Street

Vancouver, BC V6C 3E8

514-500-1181

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒            Form 40-F ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(1):_____

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(7):_____

 

 

 

 

 

 

On May 28, 2022, Marc Seelenfreund, the Chief Executive Officer of Siyata Mobile Inc., a British Columbia (Canada) company the (“Company”), appeared in an interview on The RedChip Money Report® on Bloomberg TV, that aired on Saturday, May 28th, 2022, at 7 p.m. Eastern Time. Bloomberg TV is available in an estimated 73 million homes across the United States.

 

A transcript of the interview is attached hereto as Exhibit 99.1. A video of the interview can be found at: https://www.youtube.com/watch?v=XQ8HTQ6r0ks

 

The information in this Current Report on Form 6-K is being furnished to the Securities and Exchange Commission and shall not deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

This Form 6-K and the exhibit attached hereto contains “forward-looking statements,” which includes information relating to future events, future financial performance, financial projections, strategies, expectations, competitive environment and regulation. Words such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, as well as statements in future tense, identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information we have when those statements are made or management’s good faith belief as of that time with respect to future events, and are subject to significant risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to:

 

●the size and growth potential of the markets for our products, and our ability to serve those markets;
  
●the rate and degree of market acceptance of our products;

  

●our ability to expand our sales organization to address effectively existing and new markets that we intend to target;

 

●impact from future regulatory, judicial, and legislative changes or developments in the U.S. and foreign countries;

  

●our ability to compete effectively in a competitive industry;

  

●our ability to obtain funding for our operations and effectively utilize the capital raised therefrom;

  

●our ability to attract collaborators and strategic partnerships;

  

●our ability to meet the continued listing requirements and standards of the Nasdaq Capital Market, or Nasdaq;

  

●our ability to meet our financial operating objectives;

  

●the availability of, and our ability to attract, qualified employees for our business operations;

  

●general business and economic conditions;

  

●our ability to meet our financial obligations as they become due;

 

●positive cash flows and financial viability of our operations and any new business opportunities;

 

●our ability to secure intellectual property rights over our proprietary products or enter into license agreements to secure the legal use of certain patents and intellectual property;

 

●our ability to be successful in new markets;

 

●our ability to avoid infringement of intellectual property rights; and

 

●the effects of the global COVID-19 pandemic.

 

The foregoing does not represent an exhaustive list of matters that may be covered by the forward-looking statements contained herein or risk factors that we are faced with that may cause our actual results to differ from those anticipated in our forward-looking statements. Please see “Item 3. Key Information – D. Risk Factors,” “Item 4. Information on the Company,” and “Item 5. Operating and Financial Review and Prospects” in our Annual Report on Form 20-F for additional factors that could adversely impact our business and financial performance.

 

Exhibit No.   Description
99.1   Transcript of interview of Marc Seelenfreund from The RedChip Money Report® on Bloomberg TV.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  SIYATA MOBILE INC.
  (Registrant)
     
  By: /s/ Marc Seelenfreund
  Name:  Marc Seelenfreund
  Title: Chief Executive Officer

 

Date: May 31, 2022

 

 

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Exhibit 99.1

 

Transcript of Interview

With

Marc Seelenfreund, Chief Executive Officer of

Siyata Mobile Inc.

For

The RedChip Money Report® on Bloomberg TV

Interview Aired Saturday, May 28th, 2022, at 7 p.m. Eastern Time

 

[Dave Gentry, Host] Marc, thanks for being with us today.

 

[Marc] Thank you very much for having me.

 

[Dave] I want to start with you, giving us an overview of your company and your technology.

 

[Marc] Sure, so what we do is we make devices for the push-to-talk over cellular industry. Push to Talk in a nutshell, is the next generation of two way radio. And I’m sure that you’ve seen two way radio devices on cops, firemen, security guards, construction workers, there are millions of two way radios in the United States and globally. It’s a huge market. It’s dominated by a company called Motorola. It’s technology that’s been around for about 50 years. And you know, it’s a $29 billion industry. So it’s a very large scale industry. Our technology basically does what that two way radio system does only over cellular networks, right. So instead of doing it over a radio network, we do it over a cellular network. It’s much more cost effective, it’s much more efficient, you’re not limited in the area, that you have range. So really what we are is the next generation of two way radio. We think that we’re going to be a market leader in that area. As I said, it’s a $29 billion industry. So we’re going into a massive, massive industry. And we’re very excited, you know, about our prospects going forward.

 

[Dave] So firefighters, law enforcement, disaster relief, squads, military,

 

[Marc] Absolutely.

 

[Dave] Huge market.

 

[Marc] Transportation. I mean, transportation in itself is a tremendous thing. Think about every single truck driver that has to be in contact with his dispatch. The way that he does, it is with a two way radio. We want to displace all those two way radios with our products that are all cellular based.

 

[Dave] The old technology is the land based mobile, the land based radio, so you’d need infrastructure. It’s, it’s, it’s more costly. You don’t have as as good as connections.

 

[Marc] Right.

 

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[Dave] So you’re saving money for your clients, right? I mean, you’re saving money you’ve got you’ve got less infrastructure, and you have much better quality on the reception.

 

[Marc] Both the CAPEX and the OPEX are going to be much lower with push-to-talk over cellular, you don’t have to set up your own network, you don’t have to have all the infrastructure that you know you’d have to pay for. And you can have a device which is sitting on an AT&T network, Verizon network, a T Mobile network. So both the CAPEX and the OPEX, the price of the device, is also much, much less expensive than the two way radio device. It’s a cellular based device. So you know, we think that we’re onto something, we think that it’s going to be a very, very big opportunity for Siyata.

 

[Dave] And one of the unique things about your business is that you have channel partners like AT&T, and talk to us about that business model and how that works.

 

[Marc] So you know, if we were to go to a large construction company or to to a police force, or to an ambulance company and say, Hey, we’re from Siyata, and we want to sell you our great push to talk over technology, over cellular technology, they’d probably say, you know, we’ve been buying from Motorola or from Kenwood for 50 years, and we’ve never heard of Siyata. And that would be a showstopper. We work with some of the largest cellular carriers in the United States. We already work today with AT&T, with Verizon and we’re going to have additional carriers that we’re going to be announcing coming up working with us. As you know, we recently put out a press release specifically with our new product that we’re going to be selling it through AT&T and FirstNet. FirstNet is AT&T’s fully owned subsidiary that focuses on first responders. And we had our device approved at FirstNet, after going through a very, very rigorous trial approval, that was not simple at all. So what we do is we leverage our channel partners, which are the cellular carriers to get to the end customers. And then if we go back to the beginning of the story, it’s much easier to go to a police force, or a construction company or any company in the United States, when you’re partnering with the likes of AT&T or Verizon or T Mobile. And that’s really the beauty of the company, we’re able to we’re a small company, we can keep it small, but we’re leveraging, you know, $100 million dollar- $100 billion dollar companies, carriers that are marketing our products. And you know, we’re very excited and very proud to be working with them.

 

[Dave] So right now the market is valuing your company at a 15 million market cap. And that’s been really before the launch of this product, which as I understand it will dramatically increase revenue.

 

[Marc] Right.

 

[Dave] So yes, there looks like there’s very significant potential upside for for your shareholders.

 

[Marc] We believe that our story is one of the best kept secrets. And we think that once the market understands what we’re going after and sees our traction in the market, we think that it will be a very, very different situation.

 

[Dave] Who’s the superstar on the management team?

 

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[Marc] I’m happy to say that we don’t have one superstar we have a couple. We have people from the cellular industry we have people from the radio industry we do all of our development in Israel so we have very good technical people and in general you know i’m very proud that we have a very good team and you know then people that know both the radio industry and the cellular industry and are able to address both the customers and the technical needs of the customers, um, and therefore I think that you know we’ve got a very good team at this point.

 

[Dave] Are there any analysts covering your stock today?

 

[Marc] We are covered by Maxim. And they are the bank that we’ve been working with. And they’ve given a much higher priced target than we’re at right now.

 

[Dave] What is that price target?

 

[Marc] I think it’s about $4.

 

[Dave] $4? And with a buy rating, correct?

 

[Marc] Correct.

 

[Dave] Excellent. Excellent. All right, let’s sum it up today. What is the essential value proposition you sort of covered it throughout the interview, but let’s sum it up in a few sentences.

 

[Marc] Siyata is at an inflection point, we’re going after a $29 billion market, that there’s not a lot of competition with our new technology. In the push-to-talk over cellular area, we’re want-launching our products with multiple carriers, the largest carriers in the United States, starting from this quarter, and going forward will be launched with most of the major carriers throughout the United States, they will be selling our products to their customers, and they don’t sell thousands of devices, they sell anywhere from tens of thousands of devices to hundreds of thousands of devices. And that will translate into tens of millions of dollars in revenue for us, if not more. Therefore, I think that at a $50 million market cap. We’re completely under the radar. And I think that this company is going to be in a very different place between now and the end of the year.

 

[Dave] Marc, thanks for being with us today.

 

[Marc] Thank you very much Dave I appreciate it

 

[Dave] My pleasure.

 

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