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Datametrex Reports Record Quarter

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TORONTO, Nov. 28, 2019 (GLOBE NEWSWIRE) — Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM) (FSE: D4G) (OTC: DTMXF) today released its financial results for the third quarter ended September 30, 2019. The Company’s cash position improved significantly, $812,853 compared to $66,296 in the previous quarter. In this quarter, the Company reported revenues of $1,683,985 compared to $589,648, up by 186%. For the nine months operations, the Company reported revenues of $2,559,068 compared to $1,872,944, up by 37%. Operating costs were significantly reduced, $1,034,071 compared to $2,192,822 in the third quarter, down by 53%.

“In Q3 2019, the Company achieved key milestones and made significant strides in strengthening its AI platform and offering.  Increased sales and significant reduction in operating costs attributed substantial improvement in the bottom line,” said Marshall Gunter, the Chief Executive Officer of the Company.

Further commenting on the Q3 2019 results, Jeff Stevens, President of the Company stated “Datametrex was recently featured on CTV for its latest findings. The company’s proven technology sees tremendous opportunity across the North American and Asian markets where it is gaining wide acclaim. These markets have the potential to drive strong revenue across a variety of multinationals.”

“We are pleased with the improvements year over year and remain committed to increasing sales. Reducing costs and streamlining operations will position the Company for continued growth. The article published by Nicole Bogart of CTV further validates and substantiates our technology in the cyber security sector,” says Marshall Gunter, CEO of the Company.

Highlights for Q3 2019:

  • The Company was successful in securing the second contract of a multi phase R&D program through the Department of National Defence’s Innovation for Defence Excellence and Security (IDEaS) program with a value of approximately $945,094.
  • The Company was successful in software licencing contract with GreenInsightz Limited for the use of its proprietary Nexalogy’s Artificial Intelligence software platform for a value of approximately $1 million in cash and shares.
  • The Company was successful in securing another contract with a division of Lotte for approximately $1,000,000.
  • The Company participated in NATO Research Task Group in Paris, France.
  • Promoted Marshall Gunter to Chief Executive Officer.

Financial Highlights

The following table reconciles income from operations to EBITDA and Adjusted EBITDA for the three and nine months ended September 30, 2019 and September 30, 2018:

  Three months ended Sep. 30,
    Nine months ended Sep. 30,
 
  2019     2018     2019     2018  
$     $     $     $  
Revenue   1,683,985     589,648       2,559,068     1,872,944  
Net loss   (695,803 )   (15,236,076 )    (2,612,556 )   (18,165,683 )
EBITDA*   (539,115 )   (14,350,712 )    (2,092,871 )   (15,709,824 )
Adjusted EBITDA*   (539,115 )   (1,422,731 )    (2,092,871 )   (1,565,323 )
EBITDA per share*   (0.002 )   (0.072 )     (0.009 )   (0.079 )
                       

* Note: EBITDA and Adjusted EBITDA are non-GAAP/IFRS figures. “EBITDA” represents net income plus income tax, finance expense and depreciation. “Adjusted EBITDA” represents EBITDA plus share-based compensation and one-time costs. “Adjusted Net Income” represents net income plus one-time finance expenses.

The Company believes that Adjusted EBITDA is useful additional information to management, the board and investors as it provides an indication of the operational results generated by its business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and amortization and it excludes items that could affect the comparability of our operational results and could potentially alter the trends analysis in business performance. Excluding these items does not necessarily imply they are non-recurring, infrequent or unusual. Adjusted EBITDA is also used by some investors and analysts for valuing a company. Investors are cautioned that Adjusted EBITDA should not be construed as an alternative to operating earnings or net earnings determined in accordance with IFRS as an indicator of the Company’s financial performance or as a measure of the Company’s liquidity and cash flows. Adjusted EBITDA does not take into account the impact of working capital changes, capital expenditures, debt principal reductions and other sources and uses of cash, which are disclosed in the consolidated statements of cash flows.

Non-GAAP financial measures do not have standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. Specific items may only be relevant in certain periods. For reconciliation of non-GAAP financial measures please refer to the Company’s Management Discussion and Analysis for the period ended June 30, 2019.

The financial statements, notes to the financial statements and Management’s Discussion and Analysis for the nine-month period ended September 30, 2019 are available on SEDAR at www.sedar.com.

About Datametrex AI Limited

Datametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com).

Additional information on Datametrex is available at: www.datametrex.com

For further information, please contact:

Jeffrey Stevens – President
Phone: (647) 777-7974
Email: jstevens@datametrex.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. The Company is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Datametrex cannot assure investors that actual results will be consistent with these forward looking statements and Datametrex assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

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Calian Adopts Shareholder Rights Plan

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OTTAWA, Dec. 12, 2019 (GLOBE NEWSWIRE) — Calian Group Ltd. (TSX: CGY) today announced that it has adopted the 2020 Shareholder Rights Plan (the “Rights Plan”).  The Company’s prior 2010 Shareholder Rights Plan expired in 2019.  

The Rights Plan, which is effective immediately but is subject to shareholder approval, will help to better ensure that all shareholders are treated fairly and receive equal treatment in the face of an unsolicited take-over bid for the Company.  Shareholders will be asked to confirm the Rights Plan at the Annual and Special Meeting of Shareholders to be held on February 6, 2020 and the Rights Plan will need to be reconfirmed by shareholders every three years after that. If this confirmation is not received, the Rights Plan will terminate. 

At the close of business today, one right will be issued and attached to each common share of the Company outstanding at such time and a right will also automatically attach to each common share issued hereafter for as long as the Rights Plan remains in effect. The rights will automatically attach to the common shares and no further action will be required by shareholders.

The rights issued under the Rights Plan become exercisable only when a person, including any party related to it or acting jointly with it, acquires or announces its intention to acquire 20% or more of the Company’s outstanding common shares without complying with the ‘Permitted Bid’ provisions of the Rights Plan. Subject to certain conditions set out in the Rights Plan, should such an acquisition occur, each right would, upon exercise, entitle a rights holder, other than the acquiring person and related persons, to purchase common shares of the Company at a substantial discount to the market price at the time. Certain holdings of common shares, such as positions held by investment managers, trust companies for managed accounts and pension plans will not trigger the Rights Plan unless the holders are participating in making a take-over bid for the Company. Under the Rights Plan, a Permitted Bid is a bid made to all shareholders that is open for not less than 105 days and satisfies certain other conditions set out in the Rights Plan.

The 2020 Shareholder Rights Plan was not adopted in response to, or in anticipation of, any specific effort to acquire control of the Company and the Company is not aware of any such pending or contemplated proposals.   The 2020 Shareholder Rights Plan is not aimed at blocking bids, but is designed to ensure that all shareholders are treated fairly and equally and to allow the Company an ability to properly evaluate any offer and maximize value for shareholders.

The form of Rights Plan adopted by the Company is consistent with the current practice and the forms of shareholder right plans adopted by other Canadian public companies. The Rights Plan has been conditionally approved by the Toronto Stock Exchange subject to ratification by shareholders as described above and certain other customary conditions.

A complete copy of the Rights Plan will be filed with Canadian Securities Administrators and will be available at www.sedar.com.

About Calian
Calian employs over 3,300 people in its delivery of diverse products and solutions for private sector, government and defence customers in North American and global markets. The Company’s diverse capabilities are delivered through four segments: Advanced Technologies, Health, Learning and Information Technology. The Advanced Technologies segment provides innovative products, technologies and manufacturing services and solutions for the space, communications, defence, nuclear, government and agriculture sectors. The Health segment manages a network of more than 1,800 health care professionals delivering primary care and occupational health services to public and private sector clients across Canada. Learning is a trusted provider of emergency management, consulting and specialized training services and solutions for the Canadian Armed Forces and clients in the defence, health, energy and other sectors. The Information Technology segment supports public- and private-sector customer requirements for subject matter expertise in the delivery of complex IT and cyber security solutions. Headquartered in Ottawa, the Company’s offices and projects span Canada and international markets.

For investor information, please visit our website at www.calian.com or contact us at ir@calian.com

Kevin Ford    Patrick Houston    Media inquiries: 
President and Chief Executive Officer      Chief Financial Officer   Simon Doyle
613-599-8600    613-599-8600    613-599-8600 x 2205

—————————————————————————–
DISCLAIMER

Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

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Datametrex to Pay Certain Debt and Services With Shares

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TORONTO, Dec. 12, 2019 (GLOBE NEWSWIRE) — Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) announces that it has made application to the TSX Venture Exchange (“TSXV”) to pay $454,000 of debt with common shares of the Company at a deemed issue price of $0.05 per common share.  All creditors to which the foregoing relates have entered into debt settlement agreements with the Company and have agreed to accept common shares in lieu of cash.

The Company has also made application to the TSX-V to pay for certain advertising services with common shares being provided to the Company by AGORACOM.  The advertising services agreement with AGORACOM is for a period of one year and the Company is required to pay AGORACOM five $12,000 payments throughout the year for a total of $60,000, payable in common shares of the Company at a deemed issue price equal to the greater of (a) $0.05; and (b) the market price at the time of issue.

Issuance of any shares for debt or services is conditional upon the Company receiving final approval from the TSX-V.  Upon receipt of TSX-V approval, the first payment of $12,000 will be made to AGORACOM in common shares at a deemed issue price of $0.05.  All common shares issued either for debt or for services will be subject to a hold period of four months and a day following the date of issue.

About Datametrex

Datametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com).

For further information, please contact:

Jeff Stevens – President
Phone: (416) 482-3282
Email: jstevens@datametrex.com

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws.  All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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Domo Named Best Company to Work for by Utah Business Magazine for Eighth Consecutive Year

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SILICON SLOPES, Utah, Dec. 12, 2019 (GLOBE NEWSWIRE) — Domo (Nasdaq: DOMO) today announced that it has been named a Best Company to Work For by Utah Business magazine for the eighth consecutive year.

Garnering data from an extensive vetting process anchored by anonymous employee surveys, Utah Business magazine once again chose to recognize Domo as a leader in corporate culture and employee satisfaction in the Large Companies category.

Beyond its decidedly innovative benefits program, Domo provides its employees with the opportunity to create and deliver transformative technology that quickly, easily and securely puts data to work across organizations of all sizes.

Domo, along with all of the 2019 Best Companies to Work For winners, is featured in Utah Business magazine’s December edition. For more information about Domo’s one-of-a-kind culture or to apply for a career at Domo, visit: https://www.domo.com/company/careers.

For a list of Domo’s honors, visit https://www.domo.com/company/accolades.

About Domo
Domo’s mission is to be the operating system for business, digitally connecting all your people, your data and your systems, empowering them to collaborate better, make better decisions and be more efficient, right from their phones. Domo works with many of the world’s leading and most progressive brands across multiple industries including retail, media and entertainment, manufacturing, finance and more. For more information about Domo (Nasdaq: DOMO), visit www.domo.com. You can also follow Domo on TwitterFacebook and LinkedIn. 

Domo is a registered trademark of Domo, Inc.

Contact
Domo, Inc.
PR@domo.com

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