TSX Venture Exchange
Symbol
"DM"
TORONTO, April 30, 2018 /CNW/ - Datametrex AI Limited
(the "Company" or "Datametrex") (TSXV: DM, FSE:
D4G) is pleased to announce its 2017 audited annual
consolidated financial statements, notes hereto, and management's
discussion and analysis in respect of the annual consolidated
financial statements.
Andrew Ryu, CEO and Chairman of
the Company commented: "We are very pleased with what we have
achieved in 2017. We have met key milestones that include the
Reverse Take-Over transaction (the "RTO"), the acquisition
of Nexalogy Environics, and the investment in our joint venture
company, Graph Blockchain Limited. We have also secured key assets
and a strong team with our acquisition of Ronin Blockchain in early
2018. We are now in position to reap the benefits of the
investments we have made, drive top and bottom-line growth and
leverage the synergies that we are seeing across our different
verticals."
The filings, along with additional information regarding the
Company, are available on SEDAR at www.sedar.com.
Financial Highlights
The following table summarizes revenue, net loss, EBITDA and
Adjusted EBITDA for the year ended December
31, 2017 and period from September 7,
2016 (date of incorporation) to December 31, 2016:
|
Year
ended
|
September
7
|
|
December
31,
|
to December
31,
|
|
2017
|
2016
|
|
$
|
$
|
|
|
|
|
Revenue
|
228,019
|
10,409
|
|
Net
Loss
|
(5,319,339)
|
(173,212)
|
EBITDA*
|
(5,239,222)
|
(173,057)
|
Adjusted
EBITDA*
|
(3,244,101)
|
(136,440)
|
Adjusted
EBITDA per share
|
(0.044)
|
(0.007)
|
"2017 was a year of aggressive growth and investment. Our top
line benefited from the Nexalogy acquisition, with Pro Forma
consolidated full year revenue of $1.5
million. We have also incurred $1.4
million of Reverse Take Over and Acquisition related costs
which are one-time in nature and therefore non-recurring," said
Jeffrey Stevens, President and COO
of the Company.
Datametrex has achieved the following in fiscal 2017:
- Completed a successful RTO to list on the TSX Venture
Exchange;
- Closed on $7.9 million in gross
proceeds through two private placement financing offerings;
- Closed on a $6.3 million
acquisition of Nexalogy Environics;
- Listed on the Frankfurt Stock Exchange;
- Invested $0.2 million in its
joint venture company, Graph Blockchain Limited.
Andrew Ryu, CEO and Chairman of
the Company also commented: "We will continue to pursue
opportunities that create shareholder value utilizing our Big Data,
Artificial Intelligence, and Blockchain platforms. We see
tremendous potential in these sectors and we are highly optimistic
about our ability to position ourselves for growth as these
industries gain momentum and opportunities begin to
materialize."
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with
exposure to four exciting verticals. Big Data, collecting data from
retail point of sales environments. Artificial Intelligence and
Machine Learning through its wholly owned subsidiary, Nexalogy
(www.nexalogy.com). Implementing Blockchain technology for secure
Data Transfers through its joint venture company, Graph Blockchain
(www.graphblockchain.com). Industrial scale Cryptocurrency Mining
through its wholly owned subsidiary, Ronin Blockchain Corp
(www.roninblockchain.com).
Additional information on Datametrex is available at:
www.datametrex.com
To stay informed about Datametrex, please join our Investor
Group on 8020
Connect http://bit.ly/2fPUNwF for all
upcoming news releases, articles comments and questions.
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.
EBITDA and Adjusted EBITDA
Management believes that EBITDA and Adjusted EBITDA are
effective measures for analyzing the performance of the Company.
The term "EBITDA" refers to earnings before deducting interest,
taxes, depreciation and amortization. The Company calculates
Adjusted EBITDA as earnings before deducting interest and
accretion, taxes, depreciation and amortization, listing expense,
other reverse take-over fees, acquisition related costs, and share
based compensation. "EBITDA" and "Adjusted EBITDA" are both
non-GAAP measures. The Company believes that Adjusted EBITDA is
useful additional information to management, the Board and
investors as it provides an indication of the operational results
generated by its business activities prior to taking into
consideration how those activities are financed and taxed and also
prior to taking into consideration asset depreciation and
amortization and it excludes items that could affect the
comparability of our operational results and could potentially
alter the trends analysis in business performance. Excluding these
items does not necessarily imply they are non-recurring, infrequent
or unusual. Adjusted EBITDA is also used by some investors and
analysts for the purpose of valuing a company. Investors are
cautioned that Adjusted EBITDA should not be construed as an
alternative to operating earnings or net earnings determined in
accordance with IFRS as an indicator of the Company's financial
performance or as a measure of the Company's liquidity and cash
flows. Adjusted EBITDA does not take into account the impact of
working capital changes, capital expenditures, debt principal
reductions and other sources and uses of cash, which are disclosed
in the consolidated statements of cash flows.
Forward-Looking Statements
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities laws, including
statements regarding the timing and completion of any blockchain
related activities as the subsidiary is newly incorporated and has
no current operations. Forward-looking information is not a
guarantee of future performance or results, since it involves risks
and uncertainties. There is no assurance that forward-looking
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in
forward-looking statements. Some of the factors on which the
forward-looking statements are premised include (but are not
limited to) the lack of material changes to general economic,
market and business conditions. Except as required by law, the
Corporation does not assume and expressly renounces any obligation
to update any forward-looking information, which is only applicable
on the date on which it is given.
SOURCE Datametrex AI Limited