Guardforce AI Is One Of The Best Stocks On Nasdaq Amid RaaS Expanding To China

After Guardforce AI announced that it is expanding Robotics as a Service (RaaS) to China’s Greater Bay Area, the stock market of GFAI became optimistic in the current market trading session. The prices enormously skyrocketed to almost $1.8000 from $1.0600, representing a 71% profit in one day. Consequently, the company will expand the RaaS offering through the proposed acquisition of Shenzhen Kewei Robot Service Co., Ltd and Guangzhou Kewei Robot Technology Co., Ltd.

Guardforce AI

The purchase price is 0.55 times more than predicted ($10,000,000). It is expected that the expansion will be completed at the end of February this year. Guardforce AI will pay this payment in a 10% combination of cash and 90% of GFAI limited shares at $4.20 per share. In other news, on January 11, GFAI published its preliminary unaudited results for the year ended December 31, 2021, in which net revenue was roughly $ 33 or $35 million, which shows a decrease of 9.3%. Hence, Inorganic revenues are estimated to be $0.5 million, or 1.4% of overall net revenues. Non-cash revenues were $0.8 million, or 2.4% of total net revenues.