LogicMark, Inc.

LogicMark, Inc. entered into a Securities Purchase Agreement to sell 250,000 shares of Series J Convertible Preferred Stock to an institutional investor for $250,000. These preferred shares are convertible into common stock at a highly dilutive conversion price of 50% of the lowest traded price over 30 days. The agreement includes a one-time redemption right for the investor at the stated value of $1.28 per share on October 30, 2026, and requires the company to file a registration statement for the resale of conversion shares. Additionally, the company entered into an employment agreement with its President and CEO, Chia-Lin Simmons.

LogicMark, Inc. announced strong financial and operational results for the first quarter ended March 31, 2026, with revenue increasing 24% to $3.2 million and gross margin expanding to 69.6%. The company significantly narrowed its operating loss to $1.5 million, a 36% improvement year-over-year, driven by higher sales, improved margins, and reduced operating expenses. LogicMark is also progressing its connected-care platform strategy with plans to launch a wearable watch and advance its AI-powered connected-home hub.

LogicMark reported Q1 2026 revenues of $3.21 million, a 24% increase from $2.59 million in Q1 2025. The company's net loss improved to $1.45 million from $2.19 million in the prior year period, with basic and diluted EPS at $(1.68) compared to $(93.50). Despite a decrease in cash and working capital, the company believes it has sufficient capital to sustain operations for at least one year.