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/C O R R E C T I O N — Siyata Mobile Inc./

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In the news release, Siyata Mobile Announces Second Quarter Financial Results, issued 15-Aug-2024 by Siyata Mobile Inc. over PR Newswire, we are advised by the company that the section Key financial highlights for the three months ended June 30, 2024:, first bullet point, should read “Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.” rather than “Revenues were $1.6 million compared to $2.7 million for the three months ended June 30, 2023.” In addition the second bullet point of the same section should read “Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue…” rather than “Gross profit of ($144,000), or -8.9% of revenue, compared to $804,000, or 29.7% of revenue…” as originally issued inadvertently. The complete, corrected release follows:

Siyata Mobile Announces Second Quarter Financial Results

Management to Host Conference Call at 8:30 a.m. ET on Friday, August 16

VANCOUVER, BC, Aug. 15, 2024 /CNW/ — Siyata Mobile Inc. (Nasdaq: SYTA) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced its financial results for the three months ended June 30, 2024.

Marc Seelenfreund, CEO of Siyata, said, “Second quarter revenue growth was tempered in large part due to the timing of the delivery of customer orders. However, we have a backlog of more than $7 million of confirmed orders, which gives us strong visibility into the second half of 2024. As such, we expect the third quarter will be a break-out quarter with high double digit year-over-year growth as the delivery of orders accelerates. We have achieved ‘stocked’ status for our SD7 handsets with four of the largest North American cellular carriers and continue to tap into new vertical markets reinforcing a growth trajectory that extends into 2025 and beyond.”

Key financial highlights for the three months ended June 30, 2024:

Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.
Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue, in the same period last year, primarily due to a one-time heavily discounted transaction to an international reseller which we believe will positively impact revenue in second half of 2024.
Net loss was $12.9 million as compared to a net loss of $2.3 million in the same period in the prior year, primarily due to a non cash recognition of the differences between fair value of capital raises compared to cash received resulting in a $6.7 million additional loss, as well as a $1.0 million loss due to transaction costs incurred for the financings and $2.0 million of marketing costs on investor awareness of our Company.
Adjusted EBITDA was ($3.8 million), versus ($2.0 million) in the prior year.

Liquidity and Capital Resources

As of June 30, 2024, the Company had a cash balance of $2.7 million compared to $0.9 million as of December 31, 2023.

During the second quarter, the company closed two public offerings of common shares and/or pre-funded warrants to purchase common shares for gross proceeds of approximately $10 million in aggregate.

Conference Call Details

The Company will host a conference call at 8:30 a.m. ET on Friday, August 16, 2024 to discuss its second quarter 2024 financial results.

Date: Friday, August 16, 2024
Time: 8:30 a.m. Eastern Time/5:30 a.m. Pacific Time
North America dial-in number: 888-506-0062
International toll-free dial-in number: 973-528-0011
Access Code: 922573

A replay will be available until August 30, 2024. To access the replay, dial +1 (877) 481-4010 or +1 (919) 882-2331. When prompted, enter Passcode 51033.

The call will also be available over the Internet and accessible at: https://www.webcaster4.com/Webcast/Page/2988/51033

About Siyata Mobile

Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.

In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.

Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.

Siyata’s common shares trade on the Nasdaq under the symbol “SYTA”.

Visit www.siyata.net and unidencellular.com to learn more.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata’s current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Siyata’s filings with the Securities and Exchange Commission (“SEC”), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release. 

— Tables Follow —

Siyata Mobile Inc.

Condensed Consolidated Statements of Financial Position

(Expressed in US dollars)

 
 
 

USD

 
 

USD

 
 
 

June 30,
2024

 
 

December 31,
2023

 

Assets

 
 
 
 
 
 

Current

 
 
 
 
 
 

Cash

 
 

2,653,226

 
 
 

898,771

 

Trade And Other Receivables

 
 

1,508,799

 
 
 

1,181,257

 

Prepaid Expenses

 
 

2,244,232

 
 
 

29,673

 

Inventory

 
 

2,299,647

 
 
 

3,544,519

 

Advance To Suppliers

 
 

891,144

 
 
 

1,048,227

 
 
 
 

9,597,048

 
 
 

6,702,447

 

Long Term Receivable

 
 

142,904

 
 
 

147,100

 

Investment in Securities

 
 

1,000,000

 
 
 

 

Right Of Use Assets

 
 

500,849

 
 
 

630,793

 

Equipment

 
 

157,022

 
 
 

175,335

 

Intangible Assets

 
 

7,785,176

 
 
 

7,856,730

 

Total Assets

 
 

19,182,999

 
 
 

15,512,405

 
 
 
 
 
 
 
 
 
 

Liabilities And Shareholders’ Equity

 
 
 
 
 
 
 
 

Current

 
 
 
 
 
 
 
 

Loans to Financial Institutions

 
 

619,068

 
 
 

89,298

 

Sale of future receipts

 
 

2,152,375

 
 
 

1,467,899

 

Accounts Payable and Accrued Liabilities

 
 

4,087,199

 
 
 

3,449,103

 

Deferred Revenue

 
 

3,182

 
 
 

2,025

 

Short Term Lease Liability

 
 

243,214

 
 
 

254,668

 

Warrant Liability and Preferred Shares

 
 

10,755,482

 
 
 

156,433

 
 
 
 

17,860,520

 
 
 

5,419,426

 

Long Term Lease Liability

 
 

284,393

 
 
 

385,639

 
 
 
 

284,393

 
 
 

385,639

 

Total Liabilities

 
 

18,144,913

 
 
 

5,805,065

 

Shareholders’ Equity

 
 
 
 
 
 
 
 

Share Capital

 
 

92,565,727

 
 
 

85,714,727

 

Reserves

 
 

14,845,086

 
 
 

14,644,200

 

Accumulated Other Comprehensive Loss

 
 

98,870

 
 
 

98,870

 

Deficit

 
 

(106,471,597)

 
 
 

(90,750,457)

 
 
 
 

1,038,086

 
 
 

9,707,340

 

Total Liabilities And Shareholders’ Equity

 
 

19,182,999

 
 
 

15,512,405

 

 

Siyata Mobile Inc.

Condensed Consolidated Statements of Loss and Comprehensive Loss

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

 
 
 

Three Months Ended

 
 

Six Months Ended

 
 
 

June 30,
2024

 
 

June 30,
2023

 
 

June 30,
2024

 
 

June 30,
2023

 
 
 
 
 
 
 
 
 
 
 
 
 
 

Revenue

 

$

1,890,968

 
 

$

2,710,717

 
 

$

4,248,847

 
 

$

4,513,354

 

Cost Of Sales

 
 

(1,694,154)

 
 
 

(1,906,227)

 
 
 

(3,188,616)

 
 
 

(3,212,347)

 

Gross Profit

 
 

196,814

 
 
 

804,490

 
 
 

1,060,231

 
 
 

1,301,007

 
 
 
 

10.4

%

 
 

29.7

%

 
 

25.0

%

 
 

28.8

%

Expenses

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Amortization And Depreciation

 
 

433,129

 
 
 

453,499

 
 
 

837,787

 
 
 

855,139

 

Development Expenses

 
 

 
 
 

31,465

 
 
 

35,000

 
 
 

85,450

 

Selling And Marketing

 
 

954,388

 
 
 

987,803

 
 
 

2,102,406

 
 
 

1,991,168

 

Equity promotion and marketing

 
 

2,000,000

 
 
 

250,000

 
 
 

2,150,000

 
 
 

591,200

 

General And Administrative

 
 

1,033,301

 
 
 

1,503,382

 
 
 

2,071,853

 
 
 

2,554,612

 

Bad Debts (Recovered)

 
 

 
 
 

10,148

 
 
 

18,858

 
 
 

10,148

 

Share-Based Payments

 
 

83,762

 
 
 

260,705

 
 
 

200,886

 
 
 

571,533

 

Total Operating Expenses

 
 

4,504,580

 
 
 

3,497,002

 
 
 

7,416,790

 
 
 

6,659,250

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Net Operating Loss

 
 

(4,307,766)

 
 
 

(2,692,512)

 
 
 

(6,356,559)

 
 
 

(5,358,243)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Other Expenses

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Finance Expense

 
 

942,283

 
 
 

41,251

 
 
 

1,722,039

 
 
 

75,349

 

Loss on issuance

 
 

6,129,282

 
 
 

 
 
 

6,129,282

 
 
 

 

Loss on extinguishment of financial liability

 
 

601,163

 
 
 

 
 
 

601,163

 
 
 

 

Foreign Exchange

 
 

(1,706)

 
 
 

(78,762)

 
 
 

(10,651)

 
 
 

(78,599)

 

Change In Fair Value of Warrant Liability

 
 

(31,986)

 
 
 

(321,384)

 
 
 

(54,570)

 
 
 

1,856,623

 

Transaction Costs

 
 

977,318

 
 
 

 
 
 

977,318

 
 
 

 

Total Other Expenses

 
 

8,616,354

 
 
 

(358,895)

 
 
 

9,364,581

 
 
 

1,853,373

 

Net Loss for The Period

 
 

(12,924,120)

 
 
 

(2,333,617)

 
 
 

(15,721,140)

 
 
 

(7,211,616)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Comprehensive Loss for The Period

 
 

(12,924,120)

 
 
 

(2,333,617)

 
 
 

(15,721,140)

 
 
 

(7,211,616)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Weighted average shares (after 18 to 1 reverse split)

 
 

108,922

 
 
 

5,417

 
 
 

70,307

 
 
 

4,691

 

Basic and diluted loss per share

 
 

(118.65)

 
 
 

(430.78)

 
 
 

(223.61)

 
 
 

(1,537.33)

 

 

Reconciliation to Adjusted EBITDA

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

 
 
 

Three Months Ended

 
 

Six Months Ended

 
 
 

June 30,
2024

 
 

June 30,
2023

 
 

June 30,
2024

 
 

June 30,
2023

 

Net operating loss

 
 

(4,307,766)

 
 
 

(2,692,512)

 
 
 

(6,356,559)

 
 
 

(5,358,243)

 

addback

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Amortization And Depreciation

 
 

433,129

 
 
 

453,499

 
 
 

837,787

 
 
 

855,139

 

Share-Based Payments

 
 

83,762

 
 
 

260,705

 
 
 

200,886

 
 
 

571,533

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Adjusted EBITDA

 
 

(3,790,875)

 
 
 

(1,978,308)

 
 
 

(5,317,886)

 
 
 

(3,931,571)

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/siyata-mobile-announces-second-quarter-financial-results-302224050.html

SOURCE Siyata Mobile Inc.

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DayOne Launches as an Independent Global Data Center Pioneer Following Series B Funding Closure

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SINGAPORE, Jan. 1, 2025 /PRNewswire/ — DayOne, a leading global data center pioneer, officially launched as an independent group on January 1, 2025, ushering in a transformative new era following the successful completion of its series B funding, led by renowned global investment institutions. Formerly operating as GDS International (GDSI), DayOne, founded in 2022 and headquartered in Singapore, has built a proven track record of creating and scaling markets across Asia-Pacific and beyond, driving digital transformation and enhancing regional connectivity.

The brand name “DayOne” encapsulates the company’s entrepreneurial spirit and relentless focus on customers, innovation, and growth. It signifies a mindset of respecting each day as an opportunity to embrace new possibilities, create impactful solutions, and deliver value across the markets we operate in. Inspired by its legacy of pioneering digital infrastructure and unlocking markets, “DayOne” represents a forward-looking commitment to empowering industry leaders with next-generation infrastructure solutions. Guided by humility and a deep reverence for our work and the industries we serve, “DayOne” is dedicated to creating value for all—spanning customers, business partners, investors, employees, and the communities we support.

Over the past year, DayOne secured approximately USD $1.9 billion through its Series A and Series B equity rounds, backed by world-class investors such as SoftBank Vision Fund, Kenneth Griffin, CEO of Citadel, Coatue Management, and Baupost Group.

These investments have not only underscored confidence in DayOne’s ability to deliver reliable, scalable, and sustainable digital infrastructure solutions but have also paved the way for its transformation into an autonomous entity. DayOne’s autonomy spans corporate governance, operations, finance, and technology functions. Its governance is further strengthened by a globally experienced and diverse board, with over half comprising independent investor directors.

Adding to its strategic depth, DayOne recently welcomed three esteemed board leaders: Lim Ah Doo, Co-Chairman of the Board and Chairman of Olam Group Limited; and board advisors Ken Miyauchi, former President & CEO of SoftBank Corp., and Bob McCooey, Vice Chairman of Nasdaq. This robust governance framework ensures balanced decision-making aligned with international best practices, laying a solid foundation for sustainable growth and long-term value creation.        

“The trust from our investors speaks volumes about the strength of DayOne’s vision and our ability to deliver transformative results in a rapidly evolving industry,” said William Huang, Chairman of DayOne. “This transformation goes beyond operational independence— it solidifies our role as a leader in setting new industry benchmarks, advancing regional digital growth, and championing sustainable innovation.”

Jamie Khoo, CEO of DayOne, said: “DayOne represents more than a new name—it’s a commitment to leading with purpose, agility, and innovation. Our focus is on delivering cutting-edge digital infrastructure that propels industries and communities forward. This new chapter empowers us to create lasting impacts on economies and build a future-ready digital ecosystem.”

Gary Wojtaszek, Vice-Chairman of the Board and former President and CEO of CyrusOne, stated: “The formation of DayOne marks a pivotal moment for the industry. Backed by a forward-thinking board and an exceptional leadership team, DayOne is set to redefine digital infrastructure and establish new benchmarks in the sector.”

Operating across key markets such as Singapore, Johor (Malaysia), Batam (Indonesia), Greater Bangkok, Hong Kong SAR, and Tokyo, DayOne combines deep local expertise with a global vision to meet the growing demands of hyperscalers and enterprises. Its innovative strategies, such as the SIJORI market creation, integrate the strengths of Singapore, Johor, and Batam to deliver interconnected, scalable, low-latency, and sustainable digital infrastructure solutions.

DayOne’s competitive edge lies in its ability to anticipate market demands and deliver customer-centric solutions. With a focus on innovation, the company consistently sets industry benchmarks in speed, scalability, and execution. Its sustainability efforts include cutting-edge cooling technologies, renewable energy adoption, and green building designs aimed at reducing environmental impact and enhancing operational resilience.

Looking ahead, DayOne envisions a future where digital infrastructure fuels economic transformation and accelerates global connectivity. By integrating sustainability with advanced technology, DayOne is poised to drive innovation and empower industries worldwide.

About DayOne

DayOne is a data center pioneer that develops and operates next-gen digital infrastructure for industry leaders who demand reliable, cost-effective and quickly scalable solutions.

Our cutting-edge facilities empower hyperscalers and large enterprises to achieve rapid deployment and enhance connectivity, driving transformative engagement and innovation as we shape the future of industries. DayOne’s data centers are located across key markets, including Singapore, Johor (Malaysia), Batam (Indonesia), Greater Bangkok, Hong Kong SAR, Tokyo, and beyond.

Headquartered in Singapore, DayOne’s leadership team draws on over two decades of industry experience and a track record of building Asia’s largest data center business. With DayOne, they have created the SIJORI (Singapore, Johor, and Riau Islands) market as a global data center hub.

As demand for strategically located and customized data centers rises, DayOne’s entrepreneurial spirit, customer-first strategy, deep local partnerships, and agile executional capabilities uniquely position us to power the growth ambitions of leading hyperscalers and large enterprises around the world.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dayone-launches-as-an-independent-global-data-center-pioneer-following-series-b-funding-closure-302340665.html

SOURCE DayOne Data Centers

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Altice USA (Optimum) Has Dropped MSG Networks, Depriving Local Fans of Hundreds of Live, Exclusive Games of Their Favorite Teams

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Knicks, Rangers, Islanders and Devils Coverage on MSG Networks is Dark for Optimum Subscribers

For More Information, Please Visit KEEPMSG.COM

NEW YORK, Jan. 1, 2025 /PRNewswire/ — Despite MSG Networks’ extensive efforts to reach an agreement, Altice USA has dropped MSG Networks from its Optimum channel lineup in the tri-state area, leaving passionate Knicks, Rangers, Islanders and Devils fans out in the cold this winter.   

MSG Networks issued the following statement:

“As a last-ditch effort to save their struggling business at the expense of subscribers, Altice is trying to charge their customers more and give them less. They just raised prices – nearly 50% for current Optimum subscribers and 70% for new Optimum subscribers (after expiration of a promotional offer) for the package that had included MSG Networks – and cut access to the Knicks, Rangers, Islanders, Devils and more on MSG Networks.  We offered Altice a number of fair and reasonable proposals that called for Altice to pay us less than last year. Altice rejected all of them, including our offer to keep MSG Networks on the air while we continued to try to reach a deal.  We remain ready to negotiate in good faith.”

In addition:

The previous Optimum Core TV package – which included MSG Networks and includes other sports channels – increased from $95 to $140/month, nearly a 50% increase.Now, following Altice’s introduction of its new packages just a few weeks ago, the most “affordable” new package that had offered MSG Networks prior to the drop is $160/month – that is almost 70% more than what Optimum customers paid before.MSG Networks offered Altice the same fair and reasonable terms that other major providers accepted. And now Altice’s own customers are paying the price to bolster Altice’s bottom line with dramatic price hikes and unreasonable proposals to programmers.Optimum subscribers are encouraged to visit KEEPMSG.COM for more information, including on how switch providers or to find other options for watching MSG Networks’ award-winning programming.NBA and NHL telecasts appearing on MSG Networks regularly rank as some of the most-watched cable programs in the region. 

About MSG Networks

MSG Networks, a pioneer in sports media, owns and operates two award-winning regional sports and entertainment networks (MSG and MSG Sportsnet) and MSG+, a direct-to-consumer and authenticated streaming offering (included in the Gotham Sports App), that serve the nation’s number one media market, the New York DMA, as well as other portions of New York, New Jersey, Connecticut and Pennsylvania. The networks feature a wide range of compelling sports content, including exclusive live local games and other programming of the New York Knicks, New York Rangers, New York Islanders, New Jersey Devils and Buffalo Sabres, as well as significant coverage of the New York Giants and Buffalo Bills. This content, in addition to a diverse array of other sporting events and critically acclaimed original programming, has established MSG Networks as the gold standard in regional sports. MSG Networks is part of the Sphere Entertainment Co. (NYSE: SPHR).

Contact: Dan Schoenberg (dan.schoenberg@msg.com)

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/altice-usa-optimum-has-dropped-msg-networks-depriving-local-fans-of-hundreds-of-live-exclusive-games-of-their-favorite-teams-302340808.html

SOURCE Sphere Entertainment Co.

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CES 2025: viaim Unveils Smart Office Tools RecDot and NoteKit with Exclusive Limited-Time Early Access

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The brand’s early bird event gives professionals the chance to be the first to experience an unprecedented office experience with exclusive discounts and surprises.

SINGAPORE, Jan. 1, 2025 /PRNewswire/ — viaim, an AI technology hardware company deeply rooted in the smart office sector, is ushering in a new smart office era with its mission to create AI that eliminates repetitive office tasks, enabling business professionals to focus on collaboration, innovation, and more meaningful work. The Company’s upcoming debut at CES 2025 will see the launch of its RecDot AI Work companion earbuds and NoteKit desktop AI recorder that can simplify workflows. viaim AI offers advanced features to enhance productivity and convenience. Its AI assistant analyzes meeting minutes, extracts key points, and generates summaries and to-do lists, simplifying post-meeting tasks.

Empowering business professionals around the world to work smarter and more efficiently, RecDot supports real-time transcription and translation for on-site, call, and audio-video recordings. With translation capabilities in 13 languages, it ensures seamless communication and 48dB deep noise reduction isolates background noise effectively, customizable for various scenarios. Additionally, the 36-hour charging box battery life offers up to 9 hours per use and provides one hour of use with just a 5-minute charge. viaim’s products can streamline meeting workflows and the real-time transcription, translation, and summarization features simplify tasks and improve focus, making it ideal for multinational or foreign-language meetings. 

Additionally, the sleek-like-a-pen NoteKit desktop AI recorder plugs directly into a laptop without the need to connect earbuds or additional drivers. It utilizes dual microphones for omnidirectional sound pickup to record audio independently and can clearly capture human voices within five meters and can be independently controlled through physical buttons. It supports transcription of live and audio and video conference recordings, supports recognition and translation of 13 languages, and can provide external subtitles for foreign language videos.

To celebrate the launch, viaim invites users to participate in its exclusive early bird event from January 1 to January 6, 2025. Don’t miss your chance—register now on viaim’s official website (store.viaim.ai) to secure discounts of up to $25 and enter for a chance to win a RecDot valued at $249 ,Time is limited, so act fast and elevate your workplace efficiency with viaim’s latest innovations!

Jane Doe,CMO of viaim said: “Professionals face growing challenges in efficiency and communication, especially with frequent meetings, remote collaboration across time zones, and multilingual needs. Traditional tools fall short, reducing productivity. viaim addresses these pain points, and this launch marks a key step toward smarter workplace solutions.”

Discover viaim at CES 2025 and join the immersive experience at Booth 36709, LVCC South Hall 2, from January 7 to 10. Explore live product demonstrations, engage in expert-led discussions, and enjoy exclusive offers.  Learn how RecDot and NoteKit can transform your workday and unlock new levels of productivity.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/ces-2025-viaim-unveils-smart-office-tools-recdot-and-notekit-with-exclusive-limited-time-early-access-302340576.html

SOURCE VIAIM

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