Siyata Mobile is Ridiculously Undervalued, even Before the Big Sexy Merger Math

May 7, 2025

DENVER, Colo., May 07, 2025 (247marketnews.com)- As a standalone stock, Siyata Mobile (NASDAQ:SYTA) is a screaming buy, trading at a laughably low price to milestones achieved ratio.

Tack on Siyata’s $160 million Core Gaming merger? Now we’re talking ridiculously undervalued.

Before we go any further, let’s get something out of the way; undervalued is an overused term, but in this case, it’s actually downplaying reality.

Some of Siyata’s achievements in the $3.5 billion Push-to-Talk over Cellular (PoC) market include being what is believed to be the smallest device manufacturer to claw its way to stocked status with three of the four major U.S. cellular carriers*, an uphill battle won through gritty, multi-million-dollar investments. Siyata raised over $20 million, through dilutive offerings, to position the Company for these achievements.

Siyata is now beginning to reap massive expansion and marketing opportunities from that move; like T-Mobile (NASDAQ:TMUS) naming Siyata one, of six, “key partners” in its T-Priority 5G First Responder initiative and a $1 million development deal with a Fortune 100 telecom giant.

Seriously, $1M from a Fortune 100 telecom for a new product that they plan on launching Q1 2026 and SYTA’s under $1.20? Wall Street’s asleep!

However, the real play for Siyata’s shareholders is receiving an early venture capital round position in a proven winner, as the Core Gaming merger features a sexy special stock dividend mechanism, making SYTA criminally undervalued.

Core Gaming Merger: Sexy Merger Math and a Shareholder Jackpot

Siyata’s $160 million merger with Core Gaming, announced February 26, 2025, and slated to close this quarter, is a seismic value driver, thrusting SYTA into the $126 billion mobile gaming market. Core Gaming’s meteoric rise—from $13.2 million in 2021 revenue to a projected $240.8 million by 2026—earns a $185.9 million valuation from ValueScope, with a 3x-4x EV/Sales multiple implying a $722.4-$963.2 million combined entity by 2026. The merger’s special stock dividend, guaranteeing legacy shareholders at least 10% ownership within six months post-closing, is pure genius, offering jaw-dropping returns across four VWAP price (10 trading days before the record date) scenarios (assuming 5 million fully diluted shares):

$4 VWAP (Most Likely, nearly 300% from recent levels): $160M ÷ $4 = 40M shares to Core Gaming. Siyata’s ~5M shares yield ~10% of ~45M combined shares, with minimal dilution. At $850M valuation (~midpoint) ÷ 50M shares (post-financing), the stock hits ~$17, a ~15x return.

$8 VWAP (Plausible, over 600%): $160M ÷ $8 = 20M shares to Core Gaming. Siyata’s ~5M shares stay ~5M, owning ~20% of ~25M shares. At $850M ÷ 30M shares, the stock reaches ~$28, a 25+x return. February’s $7+ spike on the merger news and this morning’s reaction to New Century’s (NASDAQ:NCEW) MOU with Soradynamics support this scenario.

$1 VWAP (Less Likely): $160M ÷ $1 = 160M shares to Core Gaming. Siyata’s ~5M shares become ~17.8M (2.56 share dividend). At $850M ÷ 190M shares, the stock trades at ~$4.47, yielding ~$15.91/share (~14x return).

$0.50 VWAP (Least Likely): $160M ÷ $0.50 = 320M shares to Core Gaming. Siyata’s ~5M shares become ~35.6M (6.1 share dividend). At $850M ÷ 375M shares, the stock hits ~$2.27, yielding ~$16.16/share (~15x return).

As you can see, this dividend, detailed in the March 31, 2025, SEC Form 20-F, protects legacy shareholders, ensuring massive upside even at lower VWAPs prior to the record date. Even though this windfall is a secret to the vast majority of the street, you can see why the script should soon flip, making it a must for any portfolio.

ValueScope is among the best in the business and they looked under the hood, reviewed Core Gaming’s plans, and much more due diligence, before calculating Core Gaming’s current value and performance projections. ValueScope surely must place a high value on Core Gaming’s historical revenue performance, which reportedly grew from $13.2 million 2021, $38.9 million in 2022, $57.0 million in 2023, an estimated $80 million for 2024, and is expected to climb to $145.8 million this year.

Please review the ValueScope Report for further details.

Core Gaming’s 43 million monthly active users and AI-driven platform, compared to peers like AppLovin (NASDAQ:APP)(3x-5x sales) and Electronic Arts (NASDAQ:EA)(~4x), justify the premium valuation. Core’s 43 million monthly active users (MAUs), which is about 10% of Activision’s when Microsoft (NASDAQ:MSFT) paid $68.7 billion for the gaming company.

Core Gaming’s historical performance proves that the combined company will be in great hands, as Core Gaming CEO, Aitan Zacharin, is set to lead the combined company.

Undervaluation: A Screaming Buy

Siyata’s $1.10 price, with a ~4.8 million share float, is an insult to its triumphs: stocked status, a T-Mobile T-Priority partnership, a $1 million Fortune 100 telecom deal, and a $160 million Core Gaming merger.

SYTA at current levels is daylight robbery. Load up before the merger, if you want to position for the 10% ownership play in what should soon be a $850M beast for pennies!

*In addition to T-Mobile, AT&T (NYSE:T), Verizon (NYSE:VZ), and U.S. Cellular (NYSE:USM) are the big four major carriers.

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