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Thursday, October 6, 2022

Sysorex Inc (OTCMKTS: SYSX) Consolidation for 2nd Leg Up (Peter Thiel back Ostendo Update) & Up List to National Exchange

Sysorex Inc (OTCMKTS: SYSX) has closed over $0.07 after spiking down to $0.037 lows on Tuesday after the recent run up to $0.112 highs. While investors hoped it would hold over the $0.10, SYSX is still in a strong position to embark on a second leg from here with consolidation over $0.04 and then $0.05 and up from there. The first resistance level is $0.112; a break over and its blue skies ahead. SYSX has a massive gap to fill since reversing off $0.0046 lows in April, the stock was trading for $7 this time last year and with the upcoming $70 million stake in PayPal co-founder Peter Thiel back Ostendo Technologies, Inc. the future could not be bigger and brighter for SYSX. 

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.  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.  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 with multiple government agencies including DARPA.  

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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. 

From a business operational standpoint, Sysorex´s footing remains strong as the Company´s Sysorex Government Services division continues to execute and has seen revenue growth the last several months, which has positively impacted our bottom line. We have historically been able to supplement our balance sheet by mining more than $800,000 a month of Ethereum (ETH) on average. Although the planned sale to Ostendo of our wholly-owned data center in Upstate New York and approximately 75% of our Ethereum mining capacity will reduce our monthly gross revenue by about $600,000 on average, the addition of approximately $70,000,000 in Ostendo securities to our balance sheet is expected to place our Company in a large net-positive shareholders’ equity position. In turn, this supports our planned efforts to work with several New York City-based investment banks to list Sysorex on a national securities exchange by year-end. It is our strong belief that we are not at the end of the road by any means; in fact, we are nearly ready to unlock our Company´s significant untapped potential.” 

The Company continues to successfully mine Ethereum and from October 2021 through April 2022, on average, the Company has mined approximately 236 ETH per month. Historically, the Company´s ETH mining has yielded an average monthly gross of revenue of $816,951 at an average price of $3,461.66 per ETH for the same period. The Company continually seeks to optimize the value of its Ethereum holdings and while during this period the Company has been selling a percentage of its mined ETH to advance other corporate initiatives, the Company retains a substantial ETH position on its balance sheet. 

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SYSX

Sysorex continues to work towards closing the transaction with Ostendo outlined in a Heads of Terms dated March 24, 2022 (filed on Form 8-K), with an anticipated closing date of May 24, 2022. The Company is principally selling its Upstate New York data center and approximately 75% of its GPU-based capacity currently being utilized for Ethereum mining in exchange for nearly $70,000,000 in book value equity. The addition of this equity value should substantially increase the Company´s shareholders’ equity and the Company sees future opportunities to collaborate with Ostendo as it undertakes commercial launch of its proprietary light field, quantum photonic semiconductor-chip-based augmented reality hardware, enriching the Metaverse. 

In anticipation of the completion of the Ostendo transaction, as stated, the Company is in active discussions with several New York City-based investment banks to assist with the Company´s anticipated up-listing to a national stock exchange. The Company will include a listing process update in its next corporate communication. The Company is also exploring mechanisms related to the Ostendo securities or the balance of its GPU assets to drive additional value for Sysorex shareholders post-closing. 

Sysorex Government Services, Inc. (SGS), the Company’s legacy business, continues to grow. Year-to-date, the Company has invoiced nearly $9,000,000, which has allowed Sysorex to realize more than $750,000 in profit. SGS continues to leverage existing contracts to continue its traditional government services offerings and SGS management has a bullish outlook on the Blockchain space. 

In the May 5 update, Zaman Khan, President of SGS stated: “The adaptation of decentralized ledger technology along with eventual regulatory guidance suggests that the largest potential customer for blockchain technology will be the federal government. Government adoption within several of its largest departments is already impacting initiatives through the use of Non-Fungible Tokens (NFTs) and Decentralized Finance (DeFi) to improve supply chain integrity, security, transparency, and logistics. SGS will seek to unlock value from our existing government contracts and pursue additional opportunities given the expertise we have gained through Sysorex´s blockchain-related experience. SGS has three best-in-class federal contracts that are considered government-wide acquisition contracts (GWACs),” continued Mr. Khan. “These are ideal contract vehicles to ensure that blockchain solutions are accessible to all government agencies and branches. GWACs are unique in that they are managed by a federal agency however the contracts can be utilized by all three branches of the government, any federal agency, the Department of Defense, and the intelligence community. The contracts, GSA FSS IT-70, NASA SEWP IV, and NIH CIO-CS, can also be used in some instances with state and local governments and systems integrators.” 

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SYSX is easily the most exciting stock on the OTCQB right now. The stock closed over $0.07 after spiking down to $0.037 lows on Tuesday after the recent run up to $0.112 highs. While investors hoped it would hold over the $0.10, SYSX is still in a strong position to embark on a second leg from here with consolidation over $0.07 and then $0.09 and up from there. The first resistance level is $0.112; a break over and its blue skies ahead. SYSX has a massive gap to fill since reversing off $0.0046 lows in April, the stock was trading for $7 this time last year and with the upcoming $70 million stake in PayPal co-founder Peter Thiel back Ostendo Technologies, Inc. the future could not be bigger and brighter for SYSX.  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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