MONTREAL, April 28, 2020 (GLOBE NEWSWIRE) -- Alphinat Inc. (TSXV: NPA) announces a loss of $57,549 for the quarter ended February 29, 2020.
During the quarter under review, Alphinat has focused its efforts on nurturing and expanding its distribution channels and on diversifying its offering.
In order to accelerate future growth, Alphinat has continued to invest in packaging SmartGuide along three and added a fourth major areas of focus:
- SmartGuide® Portal Edition for Dynamics 3651, which will be available in early 2018, will optimize the way that clients create and deploy online services on top of Microsoft Dynamics 365. This offering will be available in SaaS mode as well as on premises;
- SmartGuide Municipal Cloud aims at offering unparalleled productivity to municipalities. Municipalities will be able to choose from a catalogue of pre-built applications, further accelerating the speed at which they can deploy citizen-centric services. These services include service requests, permitting and licensing as well as numerous other citizen-facing services and internal applications.
- SmartGuide® CIVIC Portal for Amanda™2 is a derivative of the Municipal solution front ending a partner solution for an improved user experience for both the client cities and their citizens in the permits and reporting applications.
- Rapidly develop and deploy of critically needed triage and data capture solutions to help reduce the spread of COVID-19 by reducing in person contact and assist to reduce the occurrence and time of in person visit to points of testing and care. We are working with partners in order to ensure these services are available and highly accessible in multiple languages and leveraging voice recognition to maximize services to all stakeholders.
During the quarter under review, the Company sold new SmartGuide license to a department of the Government of Canada and to a major state of Texas city. It also added to it backlog of professional services for a Canadian provincial client and as well for an agency and a department of the Government of Canada.
The company has pursued its commercialization efforts with various department and agencies of the Canadian government, state/provincial governments and municipalities in North America. Furthermore, the company continues to be involved in supporting its partner deliver solutions to government clients.
Alphinat intends to pursue its partnership strategy with consulting firms and systems integrators for resale and delivery of SmartGuide, with independent software vendors for OEM agreements and with other partners for the launch of SaaS services. Management believes that these agreements will help reduce the sales cycle of the company’s products while giving it additional exposure to potential clients.
For the 3-month period ended February 29, 2020, the Company recorded total revenue of $290,993 compared to $220,840 for the same period in 2019. For the quarter ended February 29, 2020, a loss before financial expenses and depreciation amount to ($29,570) The net loss for the period ended February 29, 2020 amounted to $(57,549) or $(0.0009) per outstanding common share compared to a loss of $(149,077) or $(0.0025) per outstanding common share for the 3-month period ended February 28, 2019.
Alphinat's financial statements and Management's Discussion and Analysis for the quarter ended February 29, 2020 can be found on SEDAR, at www.sedar.com.
The company has now more than 10 federal departments and agencies that have or are benefiting from the speed and agility of digital service delivery leveraging SmartGuide® Enterprise licenses. “This continues to be our benchmark milestone for ourselves and our partners.” says Denis Michaud, Alphinat Chief Solutions and Security Officer.
About Alphinat
At Alphinat, we are driven by the passion to make interoperable application development easy for everyone. It always struck us as odd that the people with the vision of how a finished application should look and behave would only be involved at the start of the process. After all, what better way to ensure a favourable outcome than to provide those closest to an application’s end-users with a vested interest in its success throughout its development?
That’s why we bring you new ways to empower the right people at the right time in the application development process. At the same time, we’re constantly working to reduce the need to code in order to make digital service development and maintenance simpler and less error prone.
So, whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps solutions or engage us or one of our partners to do the work for you, we’re here to help you deploy better applications in record time. Visit https://www.alphinat.com for more information. We look forward to hearing from you.
Forward-looking statements
Certain statements in this document, including those which express management's expectations or estimations with regards to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, by necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company's capacity to increase acceptance of its products on the market, and to penetrate new markets; the potential existence of defects or undetected problems in the Company's products; the Company's ability to manage its growth; the Company's ability to compete with others; potential commitments; maintaining the Company's intellectual property rights and defending against litigation putting those rights in question; the Company's reliance on the knowledge of its key personnel; and the Company's access to sufficient capital to finance its future needs. This is a partial and non-exhaustive list of factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. The Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.
Neither the 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.
For further information please contact:
Mr. Curtis Page
Chief Executive Officer Alphinat Inc.
(514) 398-9799 ext 225
1 Dynamics365 and D365 are registered trademarks of Microsoft Corporation
2 Amanda™ is a registered trademark of Calytera.