Fintech
CORRECTION FROM SOURCE: Datametrex Reports Record Financial Results
![](https://thefintechbuzz.com/wp-content/uploads/2020/09/datametrex-receives-second-covid-19-order-from-film-tv-production-company.jpg)
This document corrects and replaces the press release issued earlier today. The error occurred where it stated that the Company completed the Sale of Medi-Cali Inc. (“Medi-Cali”) where it should have said, “Concierge Medical Consultants Inc. (“Concierge”)“. The updated release follows below:
Toronto, Ontario–(Newsfile Corp. – November 29, 2021) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to report the record achievement in the history of the Company. Datametrex has filed on SEDAR its financial statements (“FS“) and related management discussion and analysis (“MD&A”) for the nine month financial results ending September 30, 2021 (“Q3 2021”). All currency is in Canadian dollars, unless otherwise stated.
The following is selected financial information for the three-month financial results ending September 30, 2021, along with comparative results. Please refer to the Q3 2021 Filing in its entirety, which is available under Datametrex’s profile at www.sedar.com.
Q3 2021 Financial Summary
The Company’s financial performance immensely improved in the third quarter compared to Q3 2020, and was attributed by growth across its COVID-19 sales and its related services with the film and production industry and uptake in its health technology business.
The Company reported nine months gross revenue of $40,315,888 compared to $7,626,121, gross profit of $19,309,184 compared to $2,344,489, EBITDA of $13,670,390 compared to ($1,443,617), Adjusted EBITDA of $16,940,830 compared to $8,630, and net earnings of $10,580,779 compared to ($2,057,779) in Q3 2020. The Adjusted EBITDA reflects the Company’s operations, excluding non-cash items.
“We are pleased with the financial results we have delivered in nine months of 2021 and remain optimistic in our outlook with a calculated progress in the current operating environment as we move through the remainder of 2021. We continue to expect a profitability upturn and notable free cash flow. We also continue working on winning the $40M contract, and it is our belief that we should be able to share the good news in the near future,” commented Marshall Gunter, CEO of Datametrex.
Financial Highlights for financial results ended September 30, 2021 (Q3):
Q3 2021 (9 months) | Q3 2020 (9 months) | % of difference | Q3 2021 (3 months) | Q3 2020 (3 months) | % of difference | |
Revenue | $40,315,888 | $7,626,121 | 429% | $10,821,697 | $4,862,325 | 123% |
Gross Profit | $19,309,184 | $2,344,489 | 724% | $3,021,838 | $1,160,482 | 160% |
Net Earnings | $10,580,779 | ($2,041,592) | 618% | $170,294 | ($695,803) | 124% |
EBITDA | $13,670,390 | ($1,490,579) | 1,017% | $1,420,179 | ($466,935) | 404% |
Adjusted EBITDA | $16,940,830 | ($38,332) | 44,295% | $1,420,179 | $141,062 | 907% |
Earning per Share | $0.034 | ($0.008) | 525% | $0.001 | ($0.003) | 133% |
* Note: EBITDA ( non- IFRS measures) is calculated as Net Loss adjusted for 1. Income taxes, 2. Depreciation and amortization, and 3. Interest and accretion. Adjusted EBITDA (non-IFRS measures) is calculated as EBITFA adjusted for share based compensation.
Non-IFRS financial measures do not have standardized meaning prescribed by IFRS 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-IFRS financial measures please refer to the Company’s Management Discussion and Analysis for the nine months ended September 30, 2021.
“I am extremely proud of our whole team and we continue to experience growth as a result of our growing and diversified portfolio. The future prospects of Datametrex continue to build along with our growing customer base and we look forward to continue executing our business plan for the growth of the Company,” commented Andrew Ryu, Chairman of Datametrex.
The Company’s asset also improved significantly.
Q3 2021 | Q3 2020 | Dollar Change | Percent Change | |
Total Assets | $38,623,133 | $9,959,936 | $28,663,197 | 287.8% |
Total Liabilities | $7,285,573 | $5,160,708 | $2,124,865 | 41.2% |
Q3 Business Highlights and Subsequent Events
- The Company’s revenue increased by 122.6% in Q3 2021 compared to Q3 2020 bringing in over $10.82M in revenue.
- The Company has cash and marketable securities of $12,915,840.
- Company has entered into a $250,000 contract with a Canadian tech company on an Artificial Intelligence (“AI”) contract and received the first 50% payment on August 23, 2021.
- Datametrex AI Limited received further Purchase Orders for approximately $750,000 CAD from LOTTE Data Communication Co., Ltd. and LOTTE Hi-Mart Co., Ltd., and the Shinhan Financial Group.
- Datametrex AI Limited received additional Purchase Orders for approximately $950,000 CAD from Lotte Data Communication Co., Ltd., Samsung Electronics Co., Ltd., and the Shinhan Financial Group.
- The Company remains approximately 9% shareholder of Graph Blockchain (CSE: GBLC)
- On August 4, 2021, Datametrex announced it had passed the second round of scrutiny in a Canadian AI bid. The anticipated value of the contract is approximately $40 million. The binding bid remains subject to meeting all criteria on technical merit and ability to deliver in accordance with the bid procedures and deadlines.
- On November 12, 2021, the Company completed the sale of Concierge Medical Consultants Inc. (“Concierge”) by selling 100% of the issued and outstanding share capital of the company to ScreenPro Securities Inc. (CSE: SCRN), an arm’s length publicly held company, incorporated under the laws of the Province of British Columbia. As a result of the acquisition, the Company received 36,000,000 SCRN shares.
Outlook
Despite a significant market slowdown due to the pandemic, the Company anticipates continued growth in business and improve its balance sheet with strong cash position. The Company continues focusing on expanding and improving its AI businesses, with the Company expecting to see significant growth in both its existing cybersecurity AI verticals and new health technology verticals that the Company is building on.
Unfortunately, even with populations being vaccinated, and as the contagious Delta variant continues to circulate, there is clear and mounting evidence that people are coming down with breakthrough COVID-19 infections. Testing and contact tracing is a COVID-19 preventative action that will continue for years to come. Only 29.6% of the world population have received at least one dose of a COVID-19 vaccine, and 15.2% are fully vaccinated.
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). Datametrex’s mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, Company provides progressive solutions to support the supply chain.
For additional information on Datametrex and other corporate information, please visit the Company’s website at www.datametrex.com.
For further information, please contact:
Marshall Gunter – CEO
Phone: (514) 295-2300
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement on mutually acceptable terms or complete the Transaction in the manner contemplated herein, if at all, that the due diligence of any of the parties will be satisfactory, or that the parties will obtain any required board, shareholder, third-party and/or regulatory or other governmental approvals, if any. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
NON-IFRS FINANCIAL MEASUREMENTS
The Company has included non-IFRS performance measures throughout this press release, including (a) Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”); (b) Adjusted EBITDA which is EBITDA adjusted for the gain (loss) on change in fair value of the Company’s investment properties and the gain (loss) on change in fair value of derivative instruments; and (c) Book Value per Share which is calculated as equity attributable to Datametrex AI Limited shareholders divided by total common shares outstanding at the end of the reporting period. These non-IFRS financial measurements do not have any standardized meaning as prescribed by International Financial Reporting Standards (“IFRS”) and are therefore unlikely to be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Management uses EBITDA metrics to measure the profit trends of the business units and segments in the consolidated group since it eliminates the effects of financing decisions. Certain investors, analysts and others utilize these non-IFRS financial metrics in assessing the Company’s financial performance. These non-IFRS financial measurements have not been presented as an alternative to net income or any other financial measure of performance prescribed by IFRS. Reconciliation of non-IFRS measures has been provided throughout the Company’s MD&A, as applicable, filed under the Company’s profile on www.SEDAR.COM.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105183
Fintech
How to identify authenticity in crypto influencer channels
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Modern brands stake on influencer marketing, with 76% of users making a purchase after seeing a product on social media.The cryptocurrency industry is no exception to this trend. However, promoting crypto products through influencer marketing can be particularly challenging. Crypto influencers pose a significant risk to a brand’s reputation and ROI due to rampant scams. Approximately 80% of channels provide fake statistics, including followers counts and engagement metrics. Additionally, this niche is characterized by high CPMs, which can increase the risk of financial loss for brands.
In this article Nadia Bubennnikova, Head of agency Famesters, will explore the most important things to look for in crypto channels to find the perfect match for influencer marketing collaborations.
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Comments
There are several levels related to this point.
LEVEL 1
Analyze approximately 10 of the channel’s latest videos, looking through the comments to ensure they are not purchased from dubious sources. For example, such comments as “Yes sir, great video!”; “Thanks!”; “Love you man!”; “Quality content”, and others most certainly are bot-generated and should be avoided.
Just to compare:
LEVEL 2
Don’t rush to conclude that you’ve discovered the perfect crypto channel just because you’ve come across some logical comments that align with the video’s topic. This may seem controversial, but it’s important to dive deeper. When you encounter a channel with logical comments, ensure that they are unique and not duplicated under the description box. Some creators are smarter than just buying comments from the first link that Google shows you when you search “buy YouTube comments”. They generate topics, provide multiple examples, or upload lists of examples, all produced by AI. You can either manually review the comments or use a script to parse all the YouTube comments into an Excel file. Then, add a formula to highlight any duplicates.
LEVEL 3
It is also a must to check the names of the profiles that leave the comments: most of the bot-generated comments are easy to track: they will all have the usernames made of random symbols and numbers, random first and last name combinations, “Habibi”, etc. No profile pictures on all comments is also a red flag.
LEVEL 4
Another important factor to consider when assessing comment authenticity is the posting date. If all the comments were posted on the same day, it’s likely that the traffic was purchased.
2. Average views number per video
This is indeed one of the key metrics to consider when selecting an influencer for collaboration, regardless of the product type. What specific factors should we focus on?
First & foremost: the views dynamics on the channel. The most desirable type of YouTube channel in terms of views is one that maintains stable viewership across all of its videos. This stability serves as proof of an active and loyal audience genuinely interested in the creator’s content, unlike channels where views vary significantly from one video to another.
Many unauthentic crypto channels not only buy YouTube comments but also invest in increasing video views to create the impression of stability. So, what exactly should we look at in terms of views? Firstly, calculate the average number of views based on the ten latest videos. Then, compare this figure to the views of the most recent videos posted within the past week. If you notice that these new videos have nearly the same number of views as those posted a month or two ago, it’s a clear red flag. Typically, a YouTube channel experiences lower views on new videos, with the number increasing organically each day as the audience engages with the content. If you see a video posted just three days ago already garnering 30k views, matching the total views of older videos, it’s a sign of fraudulent traffic purchased to create the illusion of view stability.
3. Influencer’s channel statistics
The primary statistics of interest are region and demographic split, and sometimes the device types of the viewers.
LEVEL 1
When reviewing the shared statistics, the first step is to request a video screencast instead of a simple screenshot. This is because it takes more time to organically edit a video than a screenshot, making it harder to manipulate the statistics. If the creator refuses, step two (if only screenshots are provided) is to download them and check the file’s properties on your computer. Look for details such as whether it was created with Adobe Photoshop or the color profile, typically Adobe RGB, to determine if the screenshot has been edited.
LEVEL 2
After confirming the authenticity of the stats screenshot, it’s crucial to analyze the data. For instance, if you’re examining a channel conducted in Spanish with all videos filmed in the same language, it would raise concerns to find a significant audience from countries like India or Turkey. This discrepancy, where the audience doesn’t align with regions known for speaking the language, is a red flag.
If we’re considering an English-language crypto channel, it typically suggests an international audience, as English’s global use for quality educational content on niche topics like crypto. However, certain considerations apply. For instance, if an English-speaking channel shows a significant percentage of Polish viewers (15% to 30%) without any mention of the Polish language, it could indicate fake followers and views. However, if the channel’s creator is Polish, occasionally posts videos in Polish alongside English, and receives Polish comments, it’s important not to rush to conclusions.
Example of statistics
Wrapping up
These are the main factors to consider when selecting an influencer to promote your crypto product. Once you’ve launched the campaign, there are also some markers to show which creators did bring the authentic traffic and which used some tools to create the illusion of an active and engaged audience. While this may seem obvious, it’s still worth mentioning. After the video is posted, allow 5-7 days for it to accumulate a basic number of views, then check performance metrics such as views, clicks, click-through rate (CTR), signups, and conversion rate (CR) from clicks to signups.
If you overlooked some red flags when selecting crypto channels for your launch, you might find the following outcomes: channels with high views numbers and high CTRs, demonstrating the real interest of the audience, yet with remarkably low conversion rates. In the worst-case scenario, you might witness thousands of clicks resulting in zero to just a few signups. While this might suggest technical issues in other industries, in crypto campaigns it indicates that the creator engaged in the campaign not only bought fake views and comments but also link clicks. And this happens more often than you may realize.
Summing up, choosing the right crypto creator to promote your product is indeed a tricky job that requires a lot of resources to be put into the search process.
Author
Nadia Bubennikova, Head of agency at Famesters
Fintech
Central banks and the FinTech sector unite to change global payments space
![central-banks-and-the-fintech-sector-unite-to-change-global-payments-space](https://thefintechbuzz.com/wp-content/uploads/2024/04/51859-central-banks-and-the-fintech-sector-unite-to-change-global-payments-space.jpg)
The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.
Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.
Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).
At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.
The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.
As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.
Source: fintech.globa
The post Central banks and the FinTech sector unite to change global payments space appeared first on HIPTHER Alerts.
Fintech
TD Bank inks multi-year strategic partnership with Google Cloud
![td-bank-inks-multi-year-strategic-partnership-with-google-cloud](https://thefintechbuzz.com/wp-content/uploads/2024/04/51861-td-bank-inks-multi-year-strategic-partnership-with-google-cloud.jpg)
TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.
The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.
This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.
TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.
Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.
TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.
Source: fintechfutures.com
The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.
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