Tag: DATS

On January 20, DatChat Inc. (DATS) announced entering into a Letter of Intent for acquiring Avila Security Corporation and its Web 3.0 patents. Following the announcement, the stock gained a good 11.37% in regular trading at $3.33. Consequently, the stock fell under corrections in the following after-hours session. Hence, DATS lost 5.71% to corrections in the after-hours at $3.14, on Thursday.

The communications and social media company with a focus on privacy, DatChat Inc. has a market capitalization of $58.6 million. Currently, its 19.6 million shares are outstanding in the market.

Overview of DATS’ Movement

DATS stock has been on a rollercoaster ride lately. The company has been posting good news upon good news. Therefore, causing the stock to soar high and plunge down due to corrections and profit booking events. From the appointment of its first Chief Blockchain Architect, Mark Mathis to the initiation of Web 3.0 platform development, all recent news has been causing an uproar in the stock. But as always, these uptrends were followed by correction events. Given the good news, the stock has increased by 36.48% in the past five days alone.

Similarly, the news of January 20 also caused the stock to surge in the regular trading session. DATS reached a high of $4.14 after almost fifty days, during the regular session. Consequent to the huge gain, the stock once again led the way for corrections. Thus, the stock fell under corrections to shed its gains in the after-hours on Thursday.

DATS’ Letter of Intent

According to the announcement, the company has signed a Letter of Intent for the acquisition of Avila Security Corporation. Subject to closing conditions, the acquisition will effectuate DATS to secure four issued patents and two pending applications of Avila Security. Moreover, the terms of the transaction encompass $1 million in cash. Also, the greater of 739,650 shares of restricted common stock or $2.5 million of (DATS) restricted common stock (based on 30-day closing price).

Upon completion, this transaction will cause DATS’ intellectual property assets to significantly expand. Further, the company’s IP assets will then include: blockchain-based digital rights managements and object sharing technology; also encrypted WebRTC real-time video and audio streaming communications.

Patents

As per the announcement, the company will be able to acquire the following patents, as subject to closing conditions:

U.S. Patent 11,151,229, U.S. Patents 10,873,852, Patent # 11,100,197 B1 and Patent # 11,176,226 B2.

In addition, for reaching a definitive agreement, the companies have agreed to an exclusivity period till April 19, 2022.

On January 18, DatChat Inc. (DATS) stock fell under corrections in the after-hours following its huge gains. The stock gained a huge 38.75% in regular trading on news of its Web 3.0 platform development initiation. Consequently, the stock closed the session at $3.33 with 28.05 million shares exchanged. Hence, DATS entered corrections in the after-hours, losing 8.11% at $3.06.

The communication software company, DatChat Inc. has a market capitalization of $47.03 million. Currently, the company has 19.6 million shares outstanding in the market.

What is going on with DATS?

On January 18, the company announced the commencement of the Web 3.0 platform for the protection of NFTs and encrypted messaging. This news caused investors to flock towards the stock, making it trade at a huge volume of 28.05 million. Thus, the stock gained huge on the news to reach a high of $3.82 after forty days. Therefore, the stock was bound to fall under corrections soon to shed its gains. As a result, DATS succumbed to corrections in the after-hours session on Tuesday.

Looking at the overall stock movement, DATS has added 29.57% in the past five days and 11.37% last month. Further, the stock stands at a year-to-date gain of 9.90%.

The New Platform 

As per the announcement, the company has started developing a new platform. This platform will enable the sharing and protection of NFTs, documents, audio & video files, and messages through DatChat technology. Moreover, this platform will use the company’s technology for Web 3.0 and Metaverse applications. The Chief Blockchain Architect, Mark Mathis will lead the development of the platform.

The company recently appointed Mr. Mathis as its first Chief Blockchain Architect. Mr. Mathis has extensive experience of over two decades in the industry. Furthermore, he has served at various software and technology development positions that include leadership roles at IBM. Ally Bank and Bank of America.

In addition, DATS has also hired Senior Developers with iOS, Android, Blockchain, Messaging, and Metaverse development experience. Given the recent hires, the company has expanded its development capabilities.

DATS’ Nirad Points Rewards Program

On November 30, the company announced the launch of its Nirad Points Rewards Program. Through this program, users can earn NRD points by active participation on the DatChat Social Network+ platform. As per the announcement, the first 1 million users will receive 10,000 NRD points.