DMN Overview

Company Update: Damon Inc. has made significant progress in improving its financial position and diversifying its business model, including a $16.5 million public offering and the development of the HyperSport Race Motorcycle in collaboration with Engines Engineering.

Financial Performance: The company reported a reduced net loss of approximately $2.4 million for Q3 FY25, alongside an increase in cash reserves to $7.56 million and a decrease in total liabilities, indicating a stronger financial foundation moving forward.

Financial Performance: Damon reported a Q3 GAAP EPS of -$0.11, with total cash increasing to $7.56 million and total liabilities decreasing to $29.1 million as of March 31, 2025.

Stockholder's Position: The stockholders' deficit was reduced to $21.3 million, and financing activities during the quarter amounted to $21.8 million, significantly higher than the previous year's $8.7 million.

U.S. Stock Market Performance: U.S. stocks opened lower with the Dow Jones dropping over 200 points, while the NASDAQ and S&P 500 also experienced declines; energy stocks fell by 2.2% and health care shares slipped slightly by 0.2%.

Company Earnings Highlights: ZIM Integrated Shipping Services reported better-than-expected earnings, while DigiAsia Corp's shares surged 209% after announcing a Bitcoin strategy; in contrast, Damon Inc. saw a significant drop of 62% in its stock price.

Company Delisting and Trading Transition: Damon Inc. has decided not to appeal Nasdaq's delisting determination, allowing its shares to trade on the OTC Pink Current Market starting May 20, 2025, after a brief resumption on Nasdaq for one day.

Business Overview and Future Plans: Damon Inc. focuses on electric motorcycles and personal mobility products, aiming to capture a significant share of the $40 billion global electric two-wheeler market by 2030, while also pursuing an application to trade on the OTCQB market.

U.S. Stock Market Performance: U.S. stocks showed mixed results with the Dow Jones gaining 0.35%, while NASDAQ and S&P 500 experienced slight declines. Notable movements included Coca-Cola reporting better-than-expected earnings, and LogicMark's shares surging by 103%.

Economic Indicators: Job openings in the U.S. decreased to 7.192 million in March, while wholesale inventories rose by 0.5%. The trade deficit in goods widened to $162 billion, exceeding market estimates.

WaFd, Inc. Earnings Report: WaFd, Inc. shares rose 6.4% in pre-market trading after reporting a second-quarter GAAP EPS of 65 cents, exceeding estimates of 58 cents, with sales of $179.79 million surpassing expectations of $157.81 million.

Pre-Market Stock Movements: Several stocks experienced significant changes in pre-market trading, with notable gainers including Sharps Technology (up 73.6%) and Classover Holdings (up 61.2%), while Culp, Inc. saw a sharp decline of 56.2%.