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Prodigy Ventures Inc. Announces Record Q4 Revenue, Full Year Results

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Prodigy Ventures Inc. (TSXV: PGV) (“Prodigy” or the “Company“) today announced the results for the year and fourth quarter ended December 31, 2018.

“Prodigy continued its rapid revenue growth in 2018, with the greatest acceleration in the last half of the year.” said Tom Beckerman, Prodigy’s CEO. “Gross profit increases enabled the company to make additional R&D, sales and marketing expenditures to build for the future. Prodigy’s client base continues to expand beyond the banking sector and also into the USA, as the Company reduces revenue concentration and creates new, higher margin opportunities.”

Full Year 2018 Financial Results

  • Revenue for the year ended December 31, 2018 totalled $16,943,045 compared to $12,140,692 for the year ended December 31, 2017, an increase of 40%.
  • Gross profit for the year ended December 31, 2018 of $4,050,984 as compared to $3,599,780 for the year ended December 31, 2017, an increase of 13%.
  • Operating Expenses for the year ended December 31, 2018 of $3,782,792 as compared to $3,093,319 for the year ended December 31, 2017, an increase of 22%, primarily due to increases in staff costs.
  • Net Income for the year ended December 31, 2018 totalled $175,595 as compared to $347,528 for the year ended December 31, 2017, a decrease of 49%.
  • The Company had working capital of $2,688,268 as of December 31, 2018 compared to $2,292,644 as of December 31, 2017.

Fourth Quarter 2018 Financial Results

  • Revenue for the three-month period ended December 31, 2018 totalled $4,687,362 compared to $3,007,244 for the three months ended December 31, 2017, an increase of 56%.
  • Gross profit for the three-month period ended December 31, 2018 of $1,117,740 as compared to $797,247 for the three-month period ended December 31, 2017, an increase of 40%.
  • Operating Expenses for the three-month period ended December 31, 2018 of $1,108,179 as compared to $778,139 for the three-month period ended December 31, 2017, an increase of 42%.
  • Net Income for the three-month period ended December 31, 2018 totalled $1,418 as compared to $5,310 for the three-month period ended December 31, 2017, a decrease of 73%.

The complete audited financial statements and associated Management’s Discussion and Analysis are available under the Company’s profile at www.sedar.com or the Company’s website at www.prodigy.ventures.

Three months ended 
December 31

Year ended 
December 31

2018

$

2017

$

2018

$

2017

$

Revenue

4,687,362

3,007,244

16,943,045

12,140,692

Gross Profit

1,117,740

797,247

4,050,984

3,599,780

Expenses

1,108,179

778,139

3,782,792

3,093,319

Net and comprehensive income for the period

1,418

5,310

175,595

347,528

Net income per share – basic and diluted

0.00

0.00

0.00

0.00

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.

About Prodigy Ventures Inc.

Prodigy is an innovation company that has combined an enterprise technology services business – Prodigy Labs – with a Venture Builder business. The two businesses work together to create and deliver new enterprise and consumer platforms and apps using emerging technologies in mobile, video, secure ID, voice, blockchain, artificial intelligence, payments and augmented reality.

Prodigy has been ranked as the 9th fastest growing Canadian company on the 2018 Growth 500, Canadian Business’ Ranking of Fastest-Growing Canadian Companies. Prodigy has also been named as one of Canada’s fastest growing technology companies in the 19th, 20th and 21st annual Deloitte Technology Fast 50™ awards for demonstrating bold innovation, dedicated leadership and strong growth. In addition, Prodigy also ranked on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Prodigy has also been named to the prestigious Branham300 list for the second consecutive year. This ranking recognizes the financial performance of Canadian companies in the Information and Communications Technologies sector.

Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the Company’s expectations with respect to higher margin revenue opportunities. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2018, a copy of which is filed on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

 

SOURCE Prodigy Ventures Inc.

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Supply Chain Management Association Becomes Supply Chain Canada

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At its AGM yesterday, the Supply Chain Management Association™ announced its name change to Supply Chain Canada™. The association also launched a new website as part of an overall rebranding initiative.

“The new name and look are part of a transformation that we have undertaken as the association enters its second century,” said Christian Buhagiar, President & CEO of Supply Chain Canada. “Today’s supply chains are dynamic and fast-paced. The association for Canada’s supply chain professionals must reflect that.”

Through the rebranding process, the association has also acquired a meaningful new logo and tagline, “Professionals advancing the future.”

The logo’s maple leaf design not only conveys our nationality; it also represents the connectedness of the supply chain, illustrating the networks and collaboration that are so essential to supply chain success, and the interconnectedness of the association’s federation, institutes and members. Its connected dots can be seen, as well, as the complex route of a global supply chain.

“Professionals advancing the future” succinctly communicates both the professional status of supply chain practitioners and their forward-looking perspective. It is intended to:

  1. Elevate the perception of supply chain practitioners as professionals, acknowledging the value they bring to their organizations and to the Canadian economy.
  2. Encompass the several ways that the association and its members “advance” – in their personal careers and knowledge, and for the profession, the country and the economy.
  3. Express the future focus of the association – with its emphasis on the development of skills and policies – and of the supply chain itself, now so focused on AI, blockchain, robotics, automation and so on.

The new website, now at www.supplychaincanada.com, is enhanced with a modern look and new functionality that enables location-based content for users across Canada.

These changes are not simply style enhancements. They are part of a larger plan to strengthen the association. Supply Chain Canada consolidates the organization’s brand across the country under a single name in every province and territory, removing any possible confusion from its federation structure. “The unity that this will ensure will help us improve recognition in the sector, and thereby provide stronger leadership to the Canadian supply chain community,” said Buhagiar.

The association’s transformation began in 2018 with a new vision and mission, as well as an ambitious three-year strategic plan. The new name and rebranding announced yesterday are part of a larger evolution that will continue over the next two years with the introduction of new and revised educational offerings, new initiatives to engage with industry, more value-added membership benefits and more.

 

SOURCE Supply Chain Canada

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Export Portal to Address Best Practices in Sustainable Trade Facilitation at the Asia-Pacific Trade Facilitation Forum

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Export Portal CEO Ally Spinu will be adding her take on the alignment of trade facilitation and sustainable development goals at a session at the 9th Asia-Pacific Trade Facilitation Forum (APTFF) in New Delhi.

“The Asia-Pacific region is a wealth of unexplored opportunities which lay deep in the communities of local businessmen and women that just need support in bringing their amazing products to the world to see and buy,” Ms. Spinu said. “I am looking forward to this event and being a part of the change that will help local businesses from this part of the world sell their products globally. I deeply believe that shifting attention to developing SMEs is the major change international trade and local economies have been waiting for.”

This year’s APTFF will focus on how digital and sustainable trade facilitation measures and practices can bring prosperity in the Asia-Pacific region. The forum will investigate opportunities from trade digitalization for sustainable progress of the area and challenges ahead in materializing such opportunities. APTFF will feature panel discussions as well as interactive and informative sessions. These sessions will allow participants to share experiences and perspectives on different aspects of trade facilitation, including trade finance, cross-border eCommerce and paperless trade, transit, innovative application of emerging technologies, and more. APTFF will bring relevant regional initiatives and implementation cases to each session, making it a unique opportunity to share knowledge and practical lessons. The forum will also include many side-events providing a more in-depth exploration of the pertinent trade facilitation issues.

“Agricultural products are the fastest category and industry growing within Export Portal, and I can say that is just natural that SMEs around the world are actively looking for new ways for selling their products around the world,” Ms. Spinu said. “The role of innovative technologies such as Export Portal is crucial in helping these SMEs integrate within the world supply chain of food with ease and at optimal costs. I want to explain the current issues existing within SMEs’ integration in international trade due to the high cost involved and how technology slowly but surely changes this.”

Export Portal’s trade goals align directly with the purpose of this session, as its international B2B trade platform is an affordable and all-encompassing solution for SMEs all over the world. The features that are available and being developed on Export Portal, such as the panel of experts (EP+), the educational hub (EPU), and data flow insights (EPI), provide SMEs with the resources they need to trade effectively on an international scale safely, securely, and efficiently.

The Digital and Sustainable Trade Facilitation for Regional Prosperity session is co-organized by ADB, ESCAP, Ministry of Commerce, India and Confederation of Indian Industry and will be held on Wednesday, September 18, from 9:00 to 10:45 AM.

 

SOURCE Export Portal

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MIT-IBM Watson AI Lab Convenes Top Researchers for Second Annual AI Research Week

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The MIT-IBM Watson AI Lab (NYSE: IBM) is hosting its second annual AI Research WeekSeptember 16-20, in Cambridge, MA. The five-day conference will explore leading themes in today’s field of AI including neurosymbolic computing and semantic reasoning in machine learning, AI security and safety, inclusive design of AI for all communities, trustworthy and explainable AI, and industry applications of AI.

The MIT-IBM Watson AI Lab is a joint research effort to drive fundamental advances in artificial intelligence. Since its founding in 2017, the lab has become an integral component of IBM’s AI Research strategy and is spearheading 48 AI-related research projects.

WHO:
Dario Gil (Director, IBM Research), joined by top AI researchers:

  • Yoshua Bengio (A.M. Turing Award Winner and Pioneer of AI and Deep Learning)
  • Josh Tenenbaum (Professor, Dept. of Brain and Cognitive Sciences, MIT)
  • Laura Shulz (Dept. of Brain and Cognitive Sciences at MIT, Primary Investigator of the MIT Early Childhood Cognition Lab)
  • Roger Levy (Associate Professor, Dept. of Brain and Cognitive Sciences at MIT, Director of the Computational Psycholinguistics Laboratory)

Additional discussions will feature David Cox (IBM Director, MIT-IBM AI Watson Lab), Lisa Amini (Director, IBM Research Cambridge), and Antonio Torralba (MIT Director, MIT-IBM AI Watson Lab), addressing key topics including: progress of the MIT-IBM AI Watson Lab to date and future goals; transitioning AI research to industry; and self-supervised learning of AI.

The conference will also showcase research and thought leadership from scientists and students affiliated with Massachusetts Institute of Technology; the University of California, San Diego; the University of Maryland, Baltimore County; the University of Illinois, Urbana-ChampaignBoston UniversityRensselaer Polytechnic Institute; the University of Montreal; the University of Massachusetts, Amherst; and the Cambridge and Boston community.

WHAT:
AI Research Week is a technical conference featuring top AI thought leaders from around the world sharing the latest insights on the field of AI. The five-day gathering will also consist of panels, workshops, networking and mentorship all geared towards forging new ideas and discussion around advancements in AI.

WHEN & WHERE: 
September 16-20, 2019, times for events vary. AI Research Week events will be held at MIT and IBM in Cambridge, MA. While many events will occur at the MIT Samberg Conference Center, 50 Memorial Dr, Cambridge, MA 02142, it is best to check the schedule for specific event locations and times.

Conference highlights:

Monday, September 16: Kick-off the week with a poster and networking session where researchers from the MIT-IBM Watson AI Lab and IBM’s AI Horizons Network of university collaborators will showcase projects underway that are shaping the future of AI.

The afternoon will feature a round robin event designed to help match various student communities in the Boston area with a mentor, specifically those in Latinx, BlackinAI, Women in Machine Learning, and LGBTQ. This session will include 15 tables, each with a different topic, and mentors from IBM, as well as other speakers from AI Research Week, designed to connect students with a mentor.

Tuesday, September 17: Yoshua Bengio, full professor and head of the Montreal Institute for Learning Algorithms (MILA), University of Montreal, and Dario Gil, Director of IBM Research, begin the AI Horizons Colloquium with a Welcome Address, followed by a full day of talks and discussion featuring AI experts from academia and industry.

NOTE: The Colloquium (all day) will be livestreamed here.

Other Colloquium speakers include:

  • Saska Mojsilovic, head of AI Foundations, IBM Research and Co-Director of IBM Science for Social Good, will discuss how people can begin to trust AI.
  • Collin Stult, Professor of Electrical Engineering and Computer Science Institute for Medical Engineering and Science and MIT faculty at Harvard-MIT Division of Health Sciences and Technology Cardiologist, will discuss whether useful machine learning will be used clinically in the near future.

Wednesday, September 18: The NASA ISS Program Science Office and the ISS U.S. National Laboratory, along with IBM Research, will launch a unique opportunity to learn about the International Space Station. Guests will be able to speak with representatives and researchers about the future of AI intersecting with the future of research in space. The event also includes a competition and special session where researchers and students can pitch “ISS meets AI” project ideas to a panel of space experts from NASA, the ISS, IBM, and MIT.

 

SOURCE IBM

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