May 27, 2020

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Tech News Buzz: Lynn Zhao joins Socket Mobile (NASDAQ:SCKT) as Vice President of Finance and Administration, Secretary and Chief Financial Officer

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Socket Mobile, Inc. (NASDAQ:SCKT) stock identified change of 81.48% away from 52-week low price and recently located move of -14.93% off 52-week high price. It has market worth of $14.75M. SCKT stock has been recorded 15.66% away from 50 day moving average and 17.97% away from 200 day moving average. Moving closer, we can see that shares have been trading 7.25% off 20-day moving average.

Socket Mobile, Inc. (NASDAQ:SCKT), an innovative provider of mobile productivity solutions, declared that Lynn Zhao, 50, has been appointed to the position of Vice President of Finance and Administration, Secretary and Chief Financial Officer.  Ms. Zhao has served as the Company’s Controller since January 2015 and was appointed as Vice President and Controller in September 2017. She has served as a member of the Company’s Executive Leadership team since her appointment as Vice President and Controller.  Ms. Zhao previously served as the Company’s General Accounting Manager from December 2000 through January 2015.  Ms. Zhao holds an MBA degree from San Jose State University and a Bachelor of Science degree in chemistry from Xiamen University in China.  Ms. Zhao was previously nominated by the Nominating Committee of the Company’s Board of Directors to stand for election as a management member of the Board of Directors at the Company’s annual meeting of stockholders to be held on May 22, 2019.

Kevin Mills, President and CEO said “We are delighted to appoint Lynn as CFO, after having provided Socket Mobile with 19 years of financial leadership in increasingly responsible leadership positions. We believe Lynn is the right person to build the financial organization for the growth we expect to achieve in the coming years”.

David Dunlap, 76, has served as CFO since 1995 and is scheduled to retire on June 30, 2019. Mr. Dunlap will continue to serve as a member of the Board of Directors and will continue to actively work with the Company as a consultant following his retirement.

Kevin Mills, President and CEO said “We would also like to recognize Dave’s 24 years of service and his tremendous contributions to the company, including bringing the company public in 1995, compliance with Sarbanes-Oxley and numerous other achievements.  We look forward to continuing to work with him as both a board member and consultant, and wish him health and happiness in his retirement”.

The Technology sector company, Socket Mobile noticed change of -3.16% to $2.45 along volume of 17607 shares in recent session compared to an average volume of 11.16K. The stock observed return of 6.06% in 5 days trading activity. The stock was at 25.00% over one month performance. SCKT’s shares are at 28.95% for the quarter and driving a -13.72% return over the course of the past year and is now at 63.33% since this point in 2018.

The average volatility for the week at 9.17% and for month was at 6.49%. There are 6.02M shares outstanding and 4.45M shares are floated in market. Right now the stock beta is 0.36.

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