Digerati plans to move to the Nasdaq Stock Market from the over-the-counter market.
and T3 Communications, both of Florida — into a single company. The new brand name will be used on company products and services before the company’s fiscal-year end on July 31.
Digerati CEO Arthur L. Smith said the brand “better aligns with our long-term strategic plan while emphasizing our zeal for creating a truly exceptional organization.”“This re-branding is the consummation of a year-long initiative designed to create a new brand identity that embodies the company’s renewed sense of purpose and vigor, while capturing its unique corporate culture,” he said.from the over-the-counter market by the end of the first quarter.
Smith said it had been difficult to raise capital on the OTC and that listing on Nasdaq would provide more access to funds to grow Digerati through its acquisition game plan. Digerati reported that revenue jumped to $8.1 million in its fiscal year 2023 first quarter, which ended Oct. 31 - up 115 percent from the previous year. It also reported a net loss of nearly $5 million, down from a net income of $2.4 million in the same quarter a year earlier.
Digerati grew to 4,565 customers from 2,658 over the past year in Texas, Florida and California. It has nearly 100 employees with ongoing plans to hire more staff to meet incoming demand.
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