PALT Overview

Acquisition Announcement: Paltalk, Inc. is set to acquire Newtek Technology Solutions, Inc. on January 2, 2025, following shareholder approval, with a total consideration of $4 million in cash and 4 million shares of preferred stock, plus potential earn-out payments based on future performance.

Post-Acquisition Plans: After the acquisition, Paltalk will change its name to Intelligent Protection Management Corp., retain Newtek's IT team, and continue to manage technology solutions for NewtekOne's clients while allowing NewtekOne to appoint a board representative.

Financial Performance: Paltalk, Inc. reported a 23.4% decrease in revenue for Q3 2024 compared to the previous year, resulting in a net loss of $1.5 million, while cash reserves stood at $12.1 million as of September 30, 2024.

Acquisition and Litigation Update: The company has entered into agreements to acquire Newtek Technology Solutions and divest its telecommunications services, while also securing a $65.7 million jury verdict in a patent infringement case against Cisco.

Kuehn Law Investigations: Kuehn Law, a shareholder litigation firm, is investigating proposed mergers involving Nabors Industries, Paltalk Inc., Carlyle Secured Lending, and PowerUp Acquisition Corp. to ensure shareholder value maximization and fair processes.

Shareholder Participation Encouraged: Shareholders are urged to participate in the investigations as their involvement is crucial for maintaining fairness in financial markets, with Kuehn Law covering all legal costs for clients.

Investigation of Companies: Halper Sadeh LLC is investigating several companies, including Nabors Industries, Paltalk, Carlyle Secured Lending, and PowerUp Acquisition Corp., for potential violations of federal securities laws and breaches of fiduciary duties to shareholders related to their proposed mergers and acquisitions.

Legal Support for Shareholders: The law firm offers free consultations to affected shareholders, emphasizing that they operate on a contingent fee basis, meaning no upfront legal fees are required from clients.

Earnings Conference Call Announcement: Paltalk, Inc. will host its third quarter 2024 earnings results conference call on November 12, 2024, at 4:30 PM ET, where CEO Jason Katz and CFO Kara Jenny will discuss the company's financial results and address stockholder questions.

Company Overview: Paltalk is a communications software innovator with over 20 years of technology experience, offering multimedia social applications like Paltalk, Camfrog, ManyCam, Tinychat, and Vumber, and holds 8 patents in the field.

Investigation of Companies: Halper Sadeh LLC is investigating Nabors Industries Ltd., Paltalk, Inc., and Carlyle Secured Lending, Inc. for potential violations of federal securities laws and breaches of fiduciary duties related to their respective mergers and acquisitions.

Legal Support for Shareholders: The law firm offers free consultations to shareholders affected by these transactions, aiming to seek increased consideration and additional disclosures on behalf of investors.