Saddle Ranch Media Inc (OTCMKTS:SRMX) is a penny play that’s clearly begun to spur some interest among players in the marketplace as shares bounce up off recent lows. The company is actually now known as “Skyfidelity”, and is in the smart device sector in what we see as the smart-speaker market (ie, Alexa, google home, etc).
The latest from the company comes in the form of its announcement that it has entered into a product development deal with AT&T to develop the first of its kind IoT SIM card that will be used in the TriCascade’s 4G/LTE Gateway Hub known as the SkiQ Super Router.
Saddle Ranch Media Inc (OTCMKTS:SRMX), through its recent acquisition of Skyfideilty, Inc. (and its wholly-owned subsidiary Tricascade, Inc.) with operations both in the United States and in Taiwan, is an inventor, manufacturer, and distributor of reportedly the “most sophisticated and compelling” Smart Home devices, including SKiQ super router for 4G/5G/LTE, the ThermoRing first activated thermostat, the SmartOutlet, the SmartDimmer and other innovative SmartEnergy related devices.
Sky Fidelity, Inc., a diversified technology company, provides cloud managed services (IoT), as well as solar power, satellite broadband, and WiFi camera surveillance solutions. The company offers IoT for businesses and consumers; and i-BRIGHT 7x smart surge protector, a WiFi-enabled home energy management tool. It also offers satellite broadband solutions that are used in Caribbean, disaster, dual-mode tracking, education, emergency backup, mobile data, oil and gas site, RV and mobile home, supervisory control and data acquisition, telemedicine, and yacht and boat applications for live streaming video, VOIP, email, texting, and other Internet-based communications.
In addition, it offers WiFi camera systems for applications in car dealerships, construction sites, golf courses, marinas, oil and gas sites, RV and mobile homes, water locations, and yachts and boats. Further, the company offers WiFi hotspot solutions, including Sky400, a dual-band outdoor access point system; and Sky300, an outdoor device for delivering last mile wireless services to businesses or residential broadband subscribers. It serves customers worldwide.
The company was incorporated in 2016 and is based in Newport Beach, California with additional offices in Clearwater and Fort Lauderdale, Florida; and Taipei, Taiwan.
According to company materials, “SkyFidelity, Inc.’s subsidiary, TriCascade, Inc., an Internet of Things (IoT) technology company has created a 4G/LTE Gateway Hub that provides consumers with the ability to access the internet directly from a SIM-based 4G/LTE Super Router called the SkiQ. The Company has designed this innovative communication device that will disrupt the traditional communications hardware industry, making routers, modems, satellite dishes, set-top boxes and media boxes obsolete. By taking advantage of the ability to connect simultaneously from both a fiber/cable internet connection as well as 4G/LTE, the Gateway Hub will replace the need for satellite internet (Hughes Net), Cable Internet (COX, Time Warner, Comcast) and ADSL Internet at a fraction of the cost, while supporting future expansion of 5G networks.”
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According to the release, “building upon the AT&T’s commitment to moving forward with IoT solutions for broadband applications including WiFi routers and the “Smart Home,” TriCascade has been working with AT&T certified module developer, Westron NeWeb Corporation (WNC) to create an IoT module specifically designed for 4G LTE internet connectivity. TriCascade expects to take delivery of One Thousand IoT SIM modules from Westron NeWeb Corporation (WNC) in January 2018 and will use these modules in the development of the first One Thousand SKiQ Routers.”
Recent action has seen in excess of 1100% tacked on to share pricing for the stock in the past month, a bounce that has taken root amid largely bearish action over the larger time frame. Market participants may want to pay attention to this stock. SRMX has a history of dramatic rallies. What’s more, the stock has benefitted from a jump in recent trading volume to the tune of greater than 590% over the long run average.
Traders should note this as important given the stock’s very limited trading float of 7.6M shares. Traders should not overlook this combination, as a jump in average daily transaction volume in a stock with a restricted float can unleash fireworks as supply is squeezed.
Now commanding a market cap of $3.9M, SRMX has virtually no cash on the books, which stands against virtually no total current liabilities. SRMX is pulling in trailing 12-month revenues of $59K. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -64.2%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $SRMX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $SRMX, either long or short, and we have not been compensated for this article.