Over $3 million in revenue
$1.6 million earned in AI and big data solutions
$2.6 million earned in healthcare services
16,390,500 shares were purchased by the Company in Q1 2023
Toronto, Canada, May 30, 2023 – Datametrex AI Limited (the "Company" or "Datametrex'') (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) is pleased to announce the first quarter (“Q1 2023”) financial results for the Company. The Company has filed its financial statements (“FS”) and management discussion and analysis (“MD&A”) on SEDAR for the three months ending on March 31, 2023 (“Q1 2023”).
The Company reported revenue of over $3 million, which includes $1,643,156 earned from AI and technology solutions and $2,189,061 earned from healthcare services. The Company reported an EBITDA and adjusted EBITDA of ($115,589).
For the three months ended March 31, 2023, the Company has purchased a total of 12,604,000 common shares of the Company for an aggregate amount of $1,210,677 through the Normal Course Issuer Bid (NCIB) share buyback program. During the period, a total of 16,390,500 common shares were returned to the treasury and cancelled.
Despite utilizing funds to exercise the NCIB, the Company continues to retain a substantial cash position of more than $5 million, alongside total assets worth $33,410,413.
Summary of NCIB Share Buyback Program
In 2022, the Company spent $2,040,650.71 to cancel 17,807,500 shares.
In Q1 2023, the Company spent a total of $1,210,677 to cancel an additional 16,390,000 shares.
In 2023, to date, the Company spent a total of $1,210,677 to cancel 16,390,000 shares.
Overall the Company spent $3,251,328 to cancel 34,198,000 shares.
The following financial information from the financial results for the three months ending on March 31, 2023, and Management Discussion & Analysis (“MD&A”) are available for review on SEDAR.
Please refer to the Q1 2023 filing in its entirety, which is available under Datametrex’s profile at www.sedar.com.
The Company has made significant strides towards implementing its growth strategy and evolving Datametrex further into the healthcare industry. As such, the Company reinvested its profits into the acquisition of Imagine Health Centres and purchased over $3 million in shares of the Company through the NCIB, which contributes to the decrease in cash.
The Company would like to note that the recent loss in the Profit and Loss report is not a result of operations, but rather attributed to the expenses related to the amortization and depreciation of various intangible assets, as well as a decrease in the share price of invested companies.
The following table summarizes revenue, net loss, EBITDA*, and adjusted EBITDA*
All figures are in Canadian dollars unless otherwise noted.
Q1 Highlights and Recent Developments
Nexalogy Environics Inc. (“Nexalogy”) and AnalyticsGPT
Recently, Nexalogy announced the completion of the second milestone of the $40 million AI project aiding Canadian cybersecurity. As part of this significant achievement, Nexalogy is preparing to enter phase 3 of the project. The Company will provide further details on this exciting development in an official news release, subject to approval, offering valuable insights into the future of Canadian cybersecurity.
The recent introduction of AnalyticsGPT has sparked global interest in Nexalogy's offerings. Members of the Company's management team recently attended the Canadian AI Business Delegation Expo in Korea. This opportunity allowed the Company to showcase its latest software to various companies, demonstrating how AI can optimize businesses of all sizes. The event garnered international attention and reinforced Nexalogy's position as a notable player in the AI industry. Due to the increased demand, Nexalogy and Datametrex have begun expanding their positions in Seoul.
Nexalogy continues to collaborate closely with businesses through the AnalyticsGPT beta program to expand and refine its cutting-edge software. By leveraging the power of AI, the team at Nexalogy aims to optimize business operations on various scales. As a testament to the software's effectiveness, the Company is actively inviting more partners to join and witness the transformative potential of AI firsthand as time permits.
A preview of AnalyticsGPT can be seen here:
Medi-Call Inc. (“Medi-Call”)
Medi-Call reports an 11% increase in subscribers, boasting 432 subscribers to date compared to the last report, which garnered a total of 389 subscribers in May, representing a 38% increase from April’s report of 281 subscribers.
Imagine Health Centres (“Imagine Health”)
Imagine Health continues to strengthen its presence in the healthcare industry as the Company works towards the upcoming expansion with the opening of a third clinic in Vancouver. As the Company reaches the final stages of preparation, the new clinic aims to enhance access to quality healthcare services for residents in the Vancouver area.
The addition of the Vancouver clinic marks a significant milestone for the Company as it strengthens its commitment to delivering exceptional care and innovative medical solutions. The clinic will offer a comprehensive range of services, tailored to meet the diverse healthcare needs of the local community.
Simultaneously, management is actively exploring the potential of opening a fourth clinic in Ontario. The Company sees this expansion as a strategic opportunity to extend its reach and positively impact more lives.
Datametrex Electric Vehicle Solutions (“DMEVS”)
DM EVS announced a new partnership with Rewatt Power, which allows the Company to accrue the federal Clean Fuel Regulation (CFR) credit, a Canada-wide government incentive credit to a greener, pollution-free environment, and the Low-Carbon Fuel Standard (LCFS) credit. Leveraging these incentives allows DM EVS to deploy its EV services while maximizing earnings and profit.
Additionally, DM EVS has also announced that its roadside EV charging service is now open for Vancouver residents for a membership fee of $20 a month, which includes roadside assistance and a maximum charge of 7kW.
Nexalogy Environics Inc. (“Nexalogy”)
As AnalyticsGPT prepares to enter its final testing phases, the team is diligently working to fine-tune the software and ensure its seamless integration into various business environments. This rigorous testing process aims to optimize the performance and reliability of AnalyticsGPT, guaranteeing a superior experience for customers. The Company is excited to announce its plans to transition AnalyticsGPT from testing to customer conversion, marking a significant step towards the official launch of the software this fall.
In line with the upcoming launch, AnalyticsGPT is developing comprehensive price plans to cater to the diverse needs of its customers. These pricing options will offer flexibility and scalability, empowering businesses to leverage the power of AI-driven analytics.
To further expand its customer base, the Company will introduce new in-depth demos and videos, showcasing the software's capabilities and illustrating its real-world applications. As different aspects of the product become declassified, AnalyticsGPT will provide comprehensive insights into its functionalities, enabling businesses to make informed decisions about integrating AI-driven analytics into their operations.
The official launch of AnalyticsGPT this fall signifies a significant milestone for the Company. With its advanced technology and customer-centric approach, AnalyticsGPT is poised to help businesses harness the power of AI for data analysis and decision-making.
Datametrex Healthcare Division Spinoff
The Company continues to work on merging Medi-Call and Imagine Health Centres, as its own independent entity. This strategic move will create a powerful healthcare entity, consisting of a hybrid model of brick-and-mortar clinics and virtual services, with the goal of being able to offer an integrated healthcare solution under one clinic.
The spinoff will result in a boost in the Company’s balance sheet post-endemic as it acquires shares of the new entity. Management plans to launch this development within the next 12 months.
Medi-Call Inc. (“Medi-Call”)
Medi-Call continues its ongoing commitment to serve accessible healthcare to British Columbia residents and is dedicated to serving the needs of international students. The Company remains focused on expanding its services within BC and actively working on the remainder of the contracts with international student agencies throughout Q3. These new contracts are set to create a significant surge in users, further solidifying Medi-Call's position as a trusted healthcare provider.
Imagine Health Centres (“Imagine Health”)
Imagine Health continues to serve patients with multidisciplinary healthcare services. As the Company gears up to open a third clinic, the Company is focused on expanding its innovative healthcare solutions and adding new wellness services to its two (2) existing clinics which further expands services that offer physiotherapy, IV Vitamin Therapy treatment, acupuncture, and much more.
Datametrex Electric Vehicle Solutions (“DMEVS”)
DM EVS is making significant strides in its operations as the Company plans to leverage its new partnership with Rewatt Power to capitalize on EV financial incentives which drive operational efficiency, ultimately maximizing profitability. With the new partnership in place, DM EVS is set to enter the hospitality sector. Currently, the Company is actively engaged in discussions with three prominent hotels to install and operate EV chargers on-site. This move not only broadens DM EVS's market reach but also provides convenient charging solutions for EV drivers in the hospitality industry.
Looking ahead, DM EVS remains committed to its charging station installation project, focusing on hospitals, street malls, and the hospitality sectors. By expanding its presence in these public spaces, the Company aims to enhance accessibility for EV drivers, further supporting the growth of sustainable transportation.
“These exciting advancements set the stage for a remarkable journey ahead, as we continue to transform industries and make a lasting positive impact. We remain steadfast in our commitment to driving innovation, delivering exceptional solutions, and creating meaningful change in the markets we serve,” said Marshall Gunter, CEO of the Company.
“The next few months will be a transformative phase for our Company. Our healthcare division is set to soar as we open new clinics and make progress on the spin-off. DM EVS operations are already underway with developments in the pipeline. Additionally, our AnalyticsGPT software is nearing its consumer launch. These upcoming developments across all sectors position us for improved growth,” said Charles Park, COO of the Company.
Datametrex AI Limited is a technology-focused Company with exposure to artificial intelligence, GPT technology, machine learning, and telehealth and has recently entered the electric vehicle (EV) market. Datametrex’s mission is to develop innovative tools and solutions that facilitate the adoption of new standards of protocols using artificial intelligence and health diagnostics. Leveraging these technologies enables companies to proactively address issues related to supply chain management and enhance their overall operational efficiency with predictive and preventive technologies. In addition to the Company’s existing portfolio of technologies, the Company recently ventured into the electric vehicle (EV) market, reflecting its commitment to sustainability and clean energy.
Datametrex prides itself on its forward-thinking approach and the ability to develop progressive solutions that address the most pressing challenges facing businesses today. Datametrex is committed to supporting clients in achieving their goals and helping them stay ahead of the curve in an ever-changing business landscape.
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, please visit https://www.youtube.com/watch?v=ApFk3sWAXtg.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Tel: 416-901-5611 x 204
Marshall Gunter, CEO
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.