Toronto, Ontario--(January 18, 2022) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce that the Company currently has approximately $20M in cash and cash equivalent (marketable securities) on the balance sheet.
Over the last few quarters, the Company has had strong positive cash flow from its operations, which is attributed to the current strong balance sheet. The cash balance is twenty times what it was valued in the same period of 2019. It is currently equivalent to approximately $0.056 per share with the Company's current market cap of approximately $85M.
Datametrex believes there will be continuous growth in revenue and profitability from its operations, which will generate stronger positive cash flow for the Company in 2022, resulting in a stronger balance sheet and cash position. The entire team at Datametrex is fully dedicated to maximizing the share value for our shareholders.
"We are pleased with the great start to the year as we continue to make every effort to improve revenue and find efficiencies from the efforts made over the years. We look forward to delivering on greater cash flow in 2022," said Marshall Gunter, CEO of the Company.
"As we continue to grow the revenue and look to expand the Company, we will also focus on operating as efficiently as possible, as it will allow us to meet the Company's objectives and produce value for our investors," said Andrew Ryu, Chairman of the Company.
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (http://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, 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.
For further information, please contact:
Andrew Ryu - Chairman
Marshall Gunter - CEO Phone: (514) 295-2300 Email: firstname.lastname@example.org
Neither the TSX Venture Exchange nor it's 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. 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.