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Tuesday, September 27, 2022

Sysorex Inc (OTCMKTS: SYSX) Bull Run on Ethereum Miner Set to Own $70 Million Stake in Government Backed Ostendo Technologies, Inc.

Sysorex Inc (OTCMKTS: SYSX) is skyrocketing northbound topping $8 million in dollar volume on Wednesday alone quickly emerging as the most exciting stock in small caps attracting legions of shareholders over the past few days. SYSX was a spinoff from Nasdaq: Inpixon than it executed a reverse triangular merger with TTM Digital Assets & Technologies, Inc., a data center owner and operator and now, the largest U.S. publicly traded Ethereum mining company based in the United States with operations in New York and North Carolina. More recently SYSX executed a Heads of Terms with Ostendo Technologies, Inc. in which SYSX will sell Ostendo 75% of its Ethereum mining assets and certain associated property for $68,400,000 consisting of 7,291,667 shares of Ostendo preferred stock. This will give SYSX a $70 million stake in the Carlsbad, California based Ostendo; a technology company backed by PayPal co-founder Peter Thiel and multiple government agencies including DARPA, Ostendo designed a Quantum Photonic Imager platform, purpose-built, to create next-generation, light field semiconductor chips and augmented reality hardware for consumer, enterprise and defense applications.  

https://www.youtube.com/watch?v=e4JT6nQR2BI

This seems like a smart move for SYSX which recently reversed off $0.0046 (where we gave the heads up on SYSX last Thursday on April 28 in our article: “Sysorex Inc (OTCMKTS: SYSX) Major Reversal Northbound Underway as Ethereum Miner Builds Up Ethereum Portfolio & Inks Multiple Government Contracts” when SYSX was $0.007) While the Company is the largest U.S. publicly traded Ethereum mining company in the US, their Government Services (SGS) business (not being sold to Ostendo) was recently awarded multiple government contracts in Q3 totaling more than $16 million in value, which will be realized in the coming months as SGS executes on these agreements. Fully reporting OTCQB SYSX is blessed with a tight share structure with just 474,026,226 shares outstanding. SYSX has made it clear the Company plans to up list to a national exchange during 2022. We have seen some suggesting SYSX is ready for a pull back here and consolidation however this one is a serious powerhouse with strong support and massive buy volume coming in at every new level reached. We bet SYSX stays green and this one has a massive gap to fill from current levels. 

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Sysorex Inc (OTCMKTS: SYSX) is a data center owner/operator and the preeminent U.S.-based, publicly traded Ethereum mining and Ethereum Blockchain technologies company and provider of goods and services pursuant to contracts with US Government agencies  Following the Company’s merger with TTM Digital Assets & Technologies, Inc. (“TTM”), the Company shifted its primary business focus to the mining of Ether (ETH) and opportunities related to the Ethereum Blockchain. The Company currently owns and operates approximately 11,000 NVIDIA GPUs generating approximately 500 Gigahash of computing power, which GPUs include thousands of Cryptocurrency Mining Processors (“CMPs”). These GPUs are currently online and securing the Ethereum Blockchain and generating ETH around the clock with industry leading efficiency. In addition to the mining of ETH, the Company continues to operate its wholly owned subsidiary, Sysorex Government Services, Inc. (“SGS”), a business that provides information technology products, solutions and services to federal, state, and local government, including system integrators. The Company is also advancing strategies to leverage decentralized finance (“De-Fi”) and Non-Fungible Token (“NFT”) opportunities powered by the Ethereum Blockchain. 

SYSX has a smart business strategy of mining Ethereum and holding the Ethereum it mines in its Ethereum treasury wallets at Coinbase and Gemini. By strategically holding it Ethereum, management believes the Company will expand its opportunities for revenue generation above the expected appreciation in the value of Ethereum. As a result of this smart strategy Sysorex Ethereum holdings are valued in excess of $6.5 million. The Company now has 1,520 ETH in its custody account and is adding an average of 10 ETH every day. Sysorex revenues have been increasing too; SYSX Q3 revenue increased more than eight-fold to $4.9 million, compared to $0.6 million for the same period last year. In fiscal 2021 SYSX reported $12.6 million total revenues. The Company is mining about 650 Etherium per month. 

SYSX Government Services (SGS) business was recently awarded multiple government contracts in Q3 totaling more than $16 million in value, which amount should be realized in the coming months as SGS executes on these agreements, and the work is underway. Management continues to pursue opportunities to utilize smart contracts on the Ethereum Blockchain, by leveraging SGS’s government presence and contract portfolio. 

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SYSX

68M deal closing by May 24, about 3 weeks away: On March 24, 2022, Sysorex, Inc. executed Heads of Terms with Ostendo Technologies, Inc. which includes certain binding and non-binding provisions. Pursuant to the Heads of Terms, the Company and Ostendo agreed to certain terms related to the Company’s sale of approximately 75% of its Ethereum mining assets and certain associated real property to Ostendo for $68,400,000 of Ostendo preferred stock. The Assets to be sold will not include the Company’s Ether funds generated prior to and held at Closing and any graphics processing units or associated assets maintained and operated by the Company at a co-located facility in North Carolina. 

In a letter from two of its largest shareholders, Bigger Capital Fund, LP and District 2 Capital Fund LP, with ownership of approximately 9.6% of SYSX OS. Bigger Capital Fund, LP and District 2 Capital Fund LP are research intensive investment funds. The Funds believe there is significant untapped value in Sysorex and intend to work with the Company regarding strategic matters to better position it to recognize this untapped potential. Specifically, regarding the transaction between Sysorex and Ostendo Technologies, Inc. Upon closing, Sysorex will be the beneficial owner of 7,291,667 shares of Ostendo’s preferred stock. 

Ostendo is a technology company that designed a Quantum Photonic Imager platform, purpose-built, to create next-generation, light field semiconductor chips and augmented reality hardware for consumer, enterprise and defense applications. With the financial backing of industry heavy-weights such as PayPal co-founder Peter Thiel and funding from government agencies including DARPA, Ostendo is the creator of what the Funds believe is ground-breaking technology with a wide array of applicability augmenting reality and enriching the metaverse. Pursuant to the Heads of Terms, the Ostendo Preferred Shares are valued at $70,000,000. Mr. Bigger and the Funds strongly believe in the viability of the technology and the growth potential of Ostendo’s products; Mr. Bigger was further very impressed with a demonstration of Ostendo’s augmented reality glasses, which he personally experienced.  

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SYSX is easily the most exciting stock on the OTCQB having hit the exchange via a spin off from Nasdaq: Inpixon after which they executed a reverse triangular merger with TTM Digital Assets & Technologies, Inc., a data center owner and operator and now, the largest U.S. publicly traded Ethereum mining company based in the United States with operations in New York and North Carolina. More recently SYSX executed a Heads of Terms with Ostendo Technologies, Inc. in which SYSX will sell Ostendo 75% of its Ethereum mining assets and certain associated property for $68,400,000 consisting of 7,291,667 shares of Ostendo preferred stock. This will give SYSX a $70 million stake in the Carlsbad, California based Ostendo; a technology company backed by PayPal co-founder Peter Thiel and multiple government agencies including DARPA, Ostendo designed a Quantum Photonic Imager platform, purpose-built, to create next-generation, light field semiconductor chips and augmented reality hardware for consumer, enterprise and defense applications. This seems like a smart move for SYSX whose Government Services (SGS) business (not being sold to Ostendo) was recently awarded multiple government contracts in Q3 totaling more than $16 million in value, which will be realized in the coming months as SGS executes on these agreements. Fully reporting OTCQB SYSX is blessed with a tight share structure with just 474,026,226 shares outstanding. SYSX has made it clear the Company plans to up list to a national exchange during 2022. Microcapdaily gave the heads up to its readers on SYSX last Thursday when SYSX was moving up in the $0.007 range in our article titled: “Sysorex Inc (OTCMKTS: SYSX) Major Reversal Northbound Underway as Ethereum Miner Builds Up Ethereum Portfolio & Inks Multiple Government Contracts” We will be updating on SYSX very shortly so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in SYSX either long or short and we have not been compensated for this article.

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