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Report Link: Updated Research Report (Dated 11/21/2019)
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $3.50
Time Horizon: 12 Months
Rating Established: March 15, 2018
Price When Established: $4.00
Most Recent Report: November 21, 2019
Price When Issued: $1.55
Boxlight Announces Michael Pope as Chairman and CEO
On March 20, 2020, Boxlight Corporation (NASDAQ: BOXL) announced that Michael Pope has been named as its Chairman and Chief Executive Officer. The Company’s previous CEO and Chairman, Harold Bevis, accepted a position with another organization and has stepped down as an officer and director.
Prior to accepting the role of CEO and Chairman, Mr. Pope served as the company’s President since July 2015 and has been a director of the Company since September 2014. Mr. Pope served as Managing Director at Vert Capital, a private equity and business advisory firm, and its affiliates from October 2011 to October 2016, managing portfolio holdings in education, consumer products, technology and digital media. From May 2008 to October 2011, Mr. Pope was Chief Financial Officer and Chief Operating Officer for the Taylor Family in Salt Lake City, managing family investment holdings in the consumer products, professional services, real estate and education sectors. Mr. Pope holds an active CPA license and earned his undergraduate and graduate degrees in accounting from Brigham Young University.
The company received a notice from Nasdaq on January 23, 2020 notifying the Company it was not in compliance with Nasdaq’s majority independent board and audit committee requirements. Nasdaq has since granted the company an extension to comply on or before May 21, 2020. The Nominating and Governance Committee of the Boxlight’s Board of Directors is evaluating potential candidates and anticipates appointing the necessary number of independent directors during the time provided.
Boxlight Awarded District-Wide Contract to Equip Texas Schools
On February 27, 2020, Boxlight Corporation (NASDAQ: BOXL) announced that the Nederland, Texas Independent School District selected Boxlight to outfit hundreds of classrooms. The initial order for 70 ProColor interactive flat panel displays with MimioStudio educational software has been installed in four Elementary Schools and two Middle Schools. When Nederland completes its installation, the district will have close to 230 new 75" ProColor panels with MimioStudio software.
Boxlight Announces Harold Bevis as Chairman and CEO
On January 14, 2020, Boxlight Corporation (NASDAQ: BOXL) announced that Harold Bevis has been named its Chairman and Chief Executive Officer. Mark Elliott, who had served as Chairman and Chief Executive Officer since September 2014, will continue to serve the company in the role of Chief Commercial Officer and Director.
Prior to accepting the position of CEO and Chairman, Bevis served as an independent director on Boxlight’s board of directors since March 2018. Bevis has more than 25 years of business leadership experience, including 15 years serving as a chief executive officer.
Bevis served as president of OmniMax International, Inc., and president and chief executive officer of Xerium Technologies, Inc. Bevis has led or directed a total of eight businesses in six different industries, with more than 150 operating facilities in 22 countries. MBA from Columbia Business School. BS in Industrial Engineering from Iowa State University. Bevis is a member of the National Association of Corporate Directors and has served on the boards of six companies.
Boxlight and Central Technologies Selected by Shelby County Schools as Approved Providers of Interactive Panel Displays
On January 9, 2020, Boxlight Corporation (NASDAQ: BOXL) announced that Shelby County Schools in Tennessee have chosen Boxlight’s ProColor flat panel displays for use in its classrooms. The district has also selected technology solutions provider Central Technologies as its approved provider of Boxlight’s interactive flat panel displays. This contract is expected to generate $1M in revenue for Boxlight.
Boxlight to Outfit Entire South Carolina School District with Interactive Flat Panel Displays
On December 18, 2019, Boxlight Corporation (NASDAQ: BOXL) announced that South Carolina’s Anderson School District One plans to partner with Boxlight in outfitting hundreds of classrooms with the latest interactive education technologies. Reseller Howard Technology Solutions will spearhead the installations.
The initial order is for 150 Procolor interactive flat panel displays. After the initial installation is complete, the district will install 500 Procolor panels.
The decision by the district to replace existing interactive technologies with Boxlight’s followed an evaluation with a number of other vendors.
Boxlight Corporation, headquartered in Lawrenceville, Georgia, is a designer, producer, and distributor of interactive classroom technologies for the global education market.
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