Toronto, Ontario--(Newsfile Corp. - November 10, 2023) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex'') announces that pursuant to the review by the Ontario Securities Commission ("OSC") of the Company's continuous disclosure and a request from OSC staff in connection therewith, the Company has made corrective disclosure with respect to the management's discussion and analysis ("MD & A") for the year ended December 31, 2022 and the interim period ended March 31, 2023.
Corrective disclosure was requested by OSC staff in connection with the Company's MD & A in order to improve the Company's disclosure and specifically to:
enhance disclosure about the Company's current business operations;
provide updates on prior news releases;
provide additional discussion on revenues and direct costs;
discuss factors that have caused variations in financial reporting;
include an analysis of the Company's liquidity; and
include an analysis of the Company's capital resources. The amended disclosure relates to the Company's MD & A and no revisions have been made to the relevant financial statements.
Pursuant to OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors ("SN 51-711"), the Company has filed amended and restated versions of the MD & A on SEDAR+ (www.sedarplus.ca). As a result of the refiling of the MD & A, the Company will be placed on the public list of Refiling and Errors in accordance with SN 51-711 for a period of three years from the date of filing.
The amendments to the Company's MD & A include a discussion of how the Company's various business lines generate revenue, types of insurance and licenses required by the Company's businesses, the Company's strategic direction and associated risk factors. The Company has also included additional breakdowns of revenue generated from Nexalogy and Datametrex Korea, and attribution of revenue to the COVID-19 business. Additionally, the Company provides discussion detailing how the Company's acquisitions affect liquidity and the Company's capital resources is included.
Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, machine learning, and 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
Marshall Gunter, CEO Email: email@example.com Tel: 514-295-2300
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 statement, including but not limited to the proposed spin-out transaction. 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.