Business
Sonim Announces Closure of SEC Investigation with No Enforcement Action
San Diego, California--(Newsfile Corp. - March 13, 2023) - Sonim Technologies (NASDAQ: SONM) today announced that it received a written notice from the United
About this update from Dna X, Inc.
[{"type":"text","content":"San Diego, California--(Newsfile Corp. - March 13, 2023) - Sonim Technologies (NASDAQ: SONM) today announced that it received a written notice from the United States Securities and Exchange Commission (SEC) stating that the SEC has concluded its investigation as to Sonim and does not intend to recommend enforcement action. This notice was provided under the guidelines set forth in the final paragraph of Securities Act Release No. 5310.\n\"We are pleased to move forward from this legacy issue, which dated to Sonim's initial public offering,\" said Peter Liu, Sonim's Chief Executive Officer. \"Closure of this inherited SEC matter will also remove a source of legal expense, further reducing operating costs.\"\n\"As a new management team, we remain fully focused on growing sales and executing a successful strategy to bring Sonim to profitability,\" said Mr. Liu. \"We have reported significant progress on these goals through the first nine months of 2022, as well as pre-announced expectations for continued revenue growth in the fourth quarter.\"\nSonim previously announced that it anticipates fourth quarter 2022 revenue in excess of $24 million, representing sequential growth of at least 17% from revenue of $20.5 million in the third quarter of 2022 and year-over-year growth of at least 51% from revenue of $15.9 million in the fourth quarter 2021.\nSonim intends to report its full financial results on or about March 15, 2023.\nAbout Sonim Technologies, Inc.\nSonim Technologies is a leading U.S. provider of ultra-rugged, rugged and consumer durable mobile devices designed to provide extra protection for users that demand more durability in their work and everyday lives. We currently sell our ruggedized mobility solutions to several of the largest wireless carriers in the United States — including AT&T, T-Mobile and Verizon — as well as the three largest wireless carriers in Canada — Bell, Rogers and Telus Mobility. Our ruggedized phones and accessories are also sold through distributors in North America and Europe. Sonim devices and accessories connect users with voice, data, workflow and lifestyle applications that enhance the user experience while providing an extra level of protection. For more information, visit www.sonimtech.com.\nImportant Cautions Regarding Forward-Looking Statements\nThis release contains forward-looking state...