This document corrects and replaces the press release issued earlier today. “1,780,500 Shares” has been changed to “17,807,500 Shares“. A fourth bullet point has also been added: “During the nine months ended September 30, 2022, the Company repurchased 17,807,500 common shares of the Company for $2,040,350 by NCIB.” The updated release follows below:
- $9.2 million in revenue earned during Q3 and over $27.5M revenue in nine months.
- Significant increase in AI and Tech revenue of over $3.78M in nine months, up 16% vs. $3.25M in the previous year.
- Significant increase in Q3 net income of over $961K, up 464% compared to the previous year.
- During the nine months ended September 30, 2022, the Company repurchased 17,807,500 common shares of the Company for $2,040,350 by NCIB.
Toronto, Ontario–(Newsfile Corp. – November 22, 2022) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to report its financial results for the third quarter. The Company has filed its financial statements (“FS“) on SEDAR and related management discussion and analysis (“MD&A“) for the quarterly results ending September 30, 2022 (“Q3 2022“).
Q3 and nine months 2022 Financial Highlights:
For the three months ended September 30, 2022 (Q3-2022), the Company reported revenue of $9,202,894, net income of $961,922 and EBITDA of $2,699,239. For the nine months ended September 30, 2022 (Q3-YTD), revenue was $27,544,338, net income of $2,791,511, and EBITDA of $5,965,145.
The Company continues to hold a strong cash and marketable securities position of approximately $13 million after deploying over $2 million for the Company’s Normal Course Issuer Bid. As of September 30, 2022, 17,807,500 Shares have been purchased for cancellation under the NCIB. The Company spent a total of $2,040,350.71. The Company holds over $53.8 million in total assets.
The following financial information from the financial results September 30, 2022, and Management Discussion & Analysis (“MD&A“) are available for review on SEDAR.
Please refer to the Q3 2022 filing in its entirety, which is available under Datametrex’ profile at www.sedar.com.
Financial highlights for three months, ended September 30, 2022 (“Q3”):
The following table summarizes revenue, net income, ETBITDA* and adjusted EBITDA*
All figures are in Canada dollars unless otherwise noted.
|September 30, 2022||September 30, 2021||% Of Change|
|Net Income/(loss) per share – basic||0.002||0.001||+100%|
In the last few months, the Company has achieved great success with its NexaSMART Artificial Intelligence (“AI“) and machine learning (“ML“) technology, bringing in over $2.4 million in AI contracts from multiple Korean and Silicon Valley technology companies and over $100K in purchase orders for its Operating System Calibration Management and Monitoring System (“SysMind“).
The great return from the Company’s AI business is due to management’s land and expand strategy which has navigated Datametrex to execute multiple business deals, land contracts and expand business lines with its clientele. Additionally, the Company continues to work on the second phase of the $40 million AI project with the Canadian government to help aid in the defense of Canadian cyber security initiatives. Most recently, the company’s wholly-owned subsidiary Nexalogy Environics Inc. (“Nexalogy“), the powerhouse and core of the Company’s NexaSMART AI, announced it is working on an AI driven mental health detection tool which will focus on depression and anxiety detection.
With an abundance of developments in the Company’s core business in AI, the latest update includes a new President of Nexalogy to bring a more acute focus within the AI business and grow all operations to a new level field.
Medi-Call Inc., (“Medi-Call“), the Company’s wholly-owned telehealth subsidiary, has made progress in the last month announcing it has signed three (3) distribution agreements for its telehealth services with International Student agencies. This new partnership will help grow Medi-Call’s patient base and subscribers. Due to the current Canadian healthcare crisis that has been flooding the news for the last year, Medi-Call plans to focus on growing its volume of patients and subscribers, and fill the gap for patients who are subjected to long wait times for services and unable to receive accessible healthcare.
Datametrex EV Solutions (“DM EVS“), the Company’s wholly-owned Electric Vehicle (“EV“) subsidiary announced back in October that it has commenced its roadside assistance and mobile charging vehicle in British Columbia for EV consumers and is currently servicing EV consumers on film and production sites. Currently, the operations team is working on developing EV charging stations around B.C. and will be available for consumers to use in the new year.
“Our third quarter reflects strong results in our cash position, improved net income and fantastic results from our operations in AI and healthcare. Nexalogy and our AI initiatives are expanding rapidly with ongoing contracts. With the recent news of our new Nexalogy President, Medi-Call contracts with International Student Agencies and the deployment of DM EVS, Datametrex is entering the new year with many exciting opportunities to take the Company to greater heights,”said Marshall Gunter, CEO of the Company.
Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, machine learning, telehealth and has recently entered the electric vehicle (EV) market. Datametrex’s mission is to provide tools and solutions 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, the 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.
To learn more about how our AI is used in Cyber Security, Telehealth and EV, visit: https://www.youtube.com/watch?v=ApFk3sWAXtg.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Email: [email protected]
Tel: 416-901-5611 x 204
Marshall Gunter, CEO
Email: [email protected]
Neither 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.
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. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145270
Nagad’s Digital Bank on cards, Sadaf to lead the side
Nagad, Bangladesh’s leading Mobile Financial Service (MFS) provider, is gearing up to establish the much-anticipated digital bank, as it is going to secure a licence from the Bangladesh Bank within a couple of months.
Sadaf Roksana, a co-founder and executive director of Nagad Ltd., has been entrusted with the responsibility of leading her company’s transformative venture that will bring greater convenience to the lives of millions of Bangladeshis, reducing their reliance on traditional brick-and-mortar banks.
The MFS provider earlier applied to secure a digital bank licence following the central bank’s call for applications through its website. The Bangladesh Bank also formulated necessary guidelines to widen and accelerate financial inclusion, which will also create jobs for young IT workers.
The world’s fastest mobile money carrier is going to venture into the digital banking era at a time when the financial landscape across the globe is fast evolving towards digitalisation, driven by technological advancements and changing consumer preferences.
Taking on the new assignment, Sadaf, a seasoned financial executive with a remarkable track record in the fintech industry, is poised to steer Nagad’s digital bank towards success. Once Nagad gets the digital bank licence, it will provide its consumers with innovative and convenient banking solutions.
“We are very excited that we are going to introduce digital banking services to the people of Bangladesh within a couple of months,” Sadaf said, adding, “This endeavour aligns perfectly with our vision of enhancing financial inclusion and ensuring easy access to all financial services also at affordable prices.”
Nagad is already well-equipped to launch a digital bank. It will start serving customers soon after getting the licence, Sadaf assured.
Under its digital banking platform, Nagad will introduce many new services, such as single-digit and collateral-free loans for small informal businesses and farmers who now are to take loans from moneylenders even at 40% interest rate per day, she pointed out.
“Thus, we will encourage them to come under financial inclusion, thus putting their money into the formal channel,” she expressed her optimism.
To assess one’s creditworthiness, Nagad has created an AI-based credit rating system that will analyse all transactions-related data available on public domains using one’s NID and mobile number, Sadaf Roksana added.
As Nagad goes ahead with its plans, all eyes will be on Sadaf Roksana and her team as they will embark on this exciting journey towards a more digitised and inclusive financial future for the country.
SOURCE Nagad Limited
Newly inaugurated Yashobhoomi (IICC Dwarka) to host Trescon’s DATE 2023 with Finance Minister Smt. Nirmala Sitharaman amongst the dignitaries
Excitement surrounds Trescon’s Digital Acceleration & Transformation Expo (DATE) as the Honorable Finance Minister Smt. Nirmala Sitharaman confirms to speak at the event and highlight India’s financial innovation and FinTech revolution. The inaugural expo, scheduled for 23-24 November 2023 at the newly inaugurated Yashobhoomi (IICC Dwarka) in New Delhi, is set to be a grand spectacle, representing India’s enthusiastic stride towards its technological dreams, inspired by Prime Minister Narendra Modi.
DATE’s vision is not just to gaze into the future but to actively shape it, offering a rare confluence for government, enterprises, tech companies including startups and discerning global investors. With a dynamic setup featuring five main themes, three conference tracks for in-depth discussions, and multiple exhibition zones for tech showcase, DATE offers a glimpse into both current and future tech trends.
“Technology is shaping our world and enabling better governance in India. Hosting the inaugural DATE 2023 in India is a testament to our digitization efforts and reflects our commitment to national advancements and ambitions under our leader Shri Narendra Modi,” said Shri Tejasvi Surya, Honorable Member of Parliament and an advisory board member of DATE.
Shri Yaduveer Krishnadatta Chamaraja Wadiyar, Chairperson of Cyberverse, a Strategic Partner of DATE 2023, said, “DATE isn’t just an event; it’s the essence of India’s tech aspirations and its journey towards a brighter, digital future. With our Finance Minister joining the line-up of dignitaries and speakers, the event is well poised to bring the FinTech community together and augment our overall digital ecosystem.”
“DATE is our commitment to catalyze India’s digital evolution, bringing together innovation, expertise, and limitless possibilities,” said Mohammed Saleem, Founder & Chairman of Trescon. “This event is the essence of India’s tech aspirations and its journey towards a brighter, digital future,” he added.
Naveen Bharadwaj, Group CEO of Trescon, the organiser of DATE added, “We are honored to welcome Hon’ble Minister Smt Nirmala Sitharaman at DATE 2023 and eager to learn about some of the impactful initiatives being led by her as we mobilise the key tech community, showcasing cutting edge technologies, introducing startups to global investors and fueling India’s entrepreneurial spirit.”
Entrepreneurs continue to be drawn to India, aiming to revolutionize the narrative of digital transformation. Segments including esports, cybersecurity, robotics, augmented and virtual reality, the metaverse, and more are witnessing a continual upward trend as startups enter the markets and redefine the digital landscape.
DATE 2023’s objective is beyond mere envisioning; it’s about realization. Boasting over 100 global speakers and 3,000 participants, DATE 2023 promises enlightening insights into the latest tech trends, opportunities, challenges, and practical success stories. It aims to be the place-to-be for top decision-makers, tech leaders, CIOs, CTOs, and other experts from various sectors across India.
To further enhance India’s digital transformation journey, the Software Technology Parks of India (STPI)’s support serves as a key driver that will accelerate India’s digital transformation journey. Their association with DATE underscores the shared commitment towards building a robust innovation ecosystem.
In addition to STPI, DATE 2023 is proud to welcome Innovation Mission of Punjab, Goa Technology Association, Data Security Council of India (DSCI), Gujarat Electronics and Software Industries Association (GESIA), and Federation of IT Associations of Gujarati (FITAG) as valuable association partners. Their collaboration fortifies DATE’s mission to foster digital innovation and transformation in India.
For more info or to register for DATE, please visit www.datewithtech.com.
TONIK NAMED BEST CUSTOMER SERVICE DIGITAL BANK
Tonik Digital Bank is proud to announce its recognition as the Philippines’ Best Customer Service for 2023, cementing its status as the number one digital bank for customer service in the country.
Tonik thanks its radically different approach from the get-go, as customer service is not just an aspect of their operations, it is their very essence incorporated in every level of the organization.
“Tonik is proud to be recognized for our customer service by none other than our consumers,” says Mila Bedrenets, Chief Growth Hacker of Tonik Digital Bank. “This award is important for us, as this validates the dedication and passion that we have poured into providing the best banking experience to all our customers.”
The recognition comes from an independent survey launched by Statista, a globally established company publishing brand top lists in cooperation with high-profile media partners. For the Philippines, Statista partnered with Philippine Daily Inquirer, the nation’s leading broadsheet.
Statista surveyed a vast sample of 11,000 Filipino customers who have either made purchases, used services, or gathered information about products or services in the past three years.
BANKING ON THE VOICE OF CUSTOMERS
Tonik stands out from other banking institutions in such a way that customer service is a collaborative effort across all its teams.
From its agents up to members of its senior management, the bank integrates agility and care in listening to customer feedback to further enhance its app, making sure that every interaction leads to a better overall banking experience.
Bedrenets mentions that at this day and age of social media, identifying customer pain points are simple, and that it is just a matter of learning to listen and act on them quickly to address and resolve any concerns.
“I am [literally] sending screenshots of customer complaints to fellow top managers daily, just so everyone is duly aware of customer pain points,” Bedrenets said. “Once the specific complaint is addressed, we also make sure that the same issue will not be experienced by other customers.”
Tonik also utilizes the fastest possible flow of communication across all its teams to address customer issues and concerns and employs tools to effectively alleviate customer pain points.
“The ‘Voice of Customer’ unit is not a side structure for us, nor is it buried in a deeper level of our organization. We make sure that is very much present in our management committee front and center, as we understand that the more you care about customer experience, the less you will need to care about good sales performance,” Bedrenets added.
The Bangko Sentral ng Pilipinas (BSP)-licensed digital bank also goes the extra mile by proactively informing its customers of both internal and external service improvements, changes, as well as scheduled downtimes, which may affect their app experience. This transparent communication ensures that customers are informed and updated, fostering trust and reliability.
As they continue to revolutionize the digital banking landscape in the Philippines, Tonik Digital Bank invites customers to experience banking that is truly centered around their needs, values, and aspirations.
- 2023 Global Business and Law Conference held in Beijing
- Office of the Executive Committee of the WMC: Anhui Strengthens Scientific and Technological Innovation Capacity to Attract Multinational Enterprises
- Savory and Partners: Surge in demand for second passports as displacement fears at a high
- The First Exhibition at Ray Waterhouse’s New Gallery and Modern Fine Art presents EDWARD POVEY, HUMAN: October 5 – November 3, 2023 in New York
- The Office of the Executive Committee of the WMC Released the List of “Top 500 Chinese Manufacturing Enterprises in 2023”
- Asian International Arbitration Centre and SOAS University of London, Arbitration and Dispute Resolution Centre sign MoU to promote best practice in arbitration
- Revolutionary Cancer Treatment Advances Promise Brighter Future Amid Federal Funding Uncertainty
- Takeda Receives Positive CHMP Opinion Recommending Approval of Lanadelumab for Routine Prevention of Recurrent Attacks of Hereditary Angioedema (HAE) in Patients Aged 2 years and Older
- 67% of larger hospitality operators are unhappy with their current tech stack: insights unveiled in new research report from Vita Mojo
- Ghana launches USD 550 billion Energy Transition and Investment Plan for achieving net-zero emissions, creating 400,000 jobs by 2060
- World Investment Forum to incentivize global investment in sustainable development
- Anhui Targets Rapid Expansion into a Leading Smart and Green Manufacturing Hub
- Xinhua Silk Road: China services trade fair provides huge opportunities for global businesses
- IDTechEx Asks, Will LCDs Be Replaced in VR
- 134th Canton Fair’s Launched Promotion Activities in Italy, Hungary, and Austria, Bringing Upcoming Exhibition Highlights to Local Business Representatives
Fintech2 weeks ago
Praxis Tech posts record growth of 23% in approved transactions in August with its payment orchestration solution
Fintech2 weeks ago
Broadridge Announces International Launch of its Next-Gen Digital Investor Communications Platform
Fintech2 weeks ago
Mastercard and Paysend expand global partnership to enhance cross-border payments for SMEs
Fintech PR2 weeks ago
Lyvia Group acquires Arc Consulting, strengthening their position in the Polish tech- and ERP sector
Fintech PR2 weeks ago
Composition of Kamux’s Shareholders’ Nomination Board
Fintech PR2 weeks ago
BANK INDONESIA, TOGETHER WITH THE MINISTRY/AGENCIES, PROMOTES INDONESIAN MODEST FASHION ON THE GLOBAL STAGE
Fintech PR2 weeks ago
Seadrill Limited Initiates Previously Announced Share Repurchase Program
Fintech PR2 weeks ago
CLIMATE CRISIS FINALLY TAKES CENTRE STAGE IN GLOBAL POLITICS