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Wednesday, June 29, 2022

Sysorex Inc (OTCMKTS: SYSX) Rising Steadily as Peter Thiel backed Ostendo Deal Imminent

Sysorex Inc (OTCMKTS: SYSX) is probably the most exciting stock in penny stocks right now and among the most active trading $2.3 million in dollar volume on Tuesday alone. SYSX is an SEC filer and fully reporting OTCQB filing their 10Q on May 23. According to earlier filings the $70 million deal with PayPal co-founder Peter Thiel backed Ostendo is taking place no later than May 24, however, in the May 3 press release, the Company clarified stating “SYSX stated “Specifically, subject to the satisfaction of certain closing conditions, Sysorex intends to close on or about May 24, 2022” so the 8k can come anytime in the next few days. 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. SYSX is also blessed with a tight share structure with just 474,026,226 shares outstanding. While there is debt that is convertible the AS is maxed out and management has not even begun the process to raise the authorized shares, therefore shareholders can be assured that there will be 0 dilution on SYSX at least for the next 90 days. SYSX has made it clear the Company plans to up list to a national exchange during 2022 and recently reported they are 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 $70 million stake in the Carlsbad, California based Ostendo could spell big things for SYSX shareholders. 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. The deal would significantly increase the book value of Sysorex. SYSX is quickly emerging as one of the most popular stocks on the OTCQB with legions of new shareholder’s jumping on board. This kind of exposure and an already tight float with 0 new shares coming into the market could result in a parabolic situation when they close the Ostendo deal.  

Sysorex Inc (OTCMKTS: SYSX) operating out of Herndon, Virginia 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. 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; the Company reported $5.8 million in revenues for the 3 months ended March 31, 2022. SYSX reports their financial statements in thousands (In thousands of dollars, except number of shares and per share data) just like big boards do. 

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Closing of the Ostendo deal outlined in a Heads of Terms dated March 24, 2022, states that Sysorex 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. Currently Sysorex 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. 

A big part of SYSX business that is experiencing rapid growth is the Company’s Government Services (SGS) business which 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. 

According to the May 3 press release “Specifically, subject to the satisfaction of certain closing conditions, Sysorex intends to close on or about May 24, 2022, the transaction outlined in a Heads of Terms (the “Heads of Terms”), dated March 24, 2022, between Sysorex and Ostendo Technologies, Inc. (“Ostendo”). Upon closing, Sysorex will be the beneficial owner of 7,291,667 shares of Ostendo’s preferred stock (the “Ostendo Preferred Shares”).” so the 8k can come anytime in the next few days. 

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Currently trading at a $31 million market valuation SYSX is an SEC filer and fully reporting OTCQB filing their 10Q on May 23. The Company has $20 million in assets and $33 million in liabilities with fast growing revenues of $5.8 million in Q1, 2022. SYSX OS is just 474 million shares and the AS is maxed out so there are no new shares coming into the market at least for the next 3 months which is a long time in pennyland. With an 8k imminent on the closing of the $70 million Peter Thiel backed Ostendo deal, and SYSX already one of the most popular stocks on the OTCQB with legions of new shareholder’s jumping on board every day, this situation could get parabolic over the next few days. Subscribe to Microcapdaily right now to get the inside scoop on SYSX as we will be updating.  Microcapdaily gave the heads up to its readers on SYSX when the stock 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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