Tuesday, March 31, 2020

Breaking #Fintech News: Weyland Tech (OTCQX: $WEYL) (OTCQX: $WEYLD) Reports Revenue up 86% to Record $10.0 Million in Q4 2019, and up 53% to Record $34.6 Million for the Full Year; @weylandtechinc

Breaking #Fintech News: Weyland Tech (OTCQX: $WEYL) (OTCQX: $WEYLD) Reports Revenue up 86% to Record $10.0 Million in Q4 2019, and up 53% to Record $34.6 Million for the Full Year; @weylandtechinc

NEW YORK - March 31, 2020 (Investorideas.com Newswire) Weyland Tech, Inc. (OTCQX: WEYL) (OTCQX: WEYLD) a leading global provider of mCommerce platform-as-a-service (PaaS), reported results for the fourth quarter and full year ended December 31, 2019. All quarterly and yearly comparisons are to the same year-ago period unless otherwise noted.

Read this news featuring Weyland in full at https://www.investorideas.com/CO/WEYL/news/2020/03311RevenueUp.asp

Financial Highlights
·        Q4 2019 revenue, comprised of recurring subscription fees, totaled a record $10.0 million, up 11% from the previous quarter and up 86% from the year-ago quarter.
·        Full-year 2019 revenue increased 53% to a record $34.6 million.
·        Full-year 2019 gross profit increased 55% to $6.2 million, with gross margin improving 30 basis points to 18.0%
·        Cash and cash equivalents totaled $3.0 million at December 31, 2019.

Q4 2019 Operational Highlights
·        Increased adoption of the company's CreateApp mobile app solution for SMBs, which included new customers as well as existing customers subscribing to additional features and modules. The CreateApp user base, comprised of businesses across Southeast Asia, grew 47 percent last year to more than 360,000.
·        Entered agreement to acquire the assets and operations of the eCommerce technology company, Push Interactive, which closed on January 8, 2020.
·        Acquired 31% beneficial ownership of PT Weyland Indonesia Perkasa (WIP), owner and operator of the fast-growing AtozPay and AtozGo platforms. AtozGo™, a short distance food delivery service in Jakarta, Indonesia, addresses the need for a hyper-local, pedestrian-powered food delivery service that can make food delivery from local establishments quick and easy for office workers and urbanites. In the eight months since its launch, lunchtime deliveries have scaled to more than 100,000 customers.

Management Commentary
"For Q4 and the full year of 2019, our record topline performance was driven by continued growth in CreateApp subscription fees, with this due to the increasing adoption of our CreateApp Platform-as-a-Service by businesses in the markets we serve," commented Weyland Tech CEO, Brent Suen. "Excluding a recent change in the accounting for our R&D expense, expensing immediately versus amortizing, we would have been adjusted EBITDA positive for the fourth quarter."

"CreateApp, which enables businesses to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background, realized strong gains in 2019 in terms of new users and market expansion. Our CreateApp user base, which is mostly comprised of businesses across Southeast Asia and other select countries, grew 47% in 2019 to more than 360,000.

"This growth continues to be driven primarily by our highly-productive channel partners who have been introducing new customers, as well by existing customers subscribing to additional features and modules. We also continued to benefit from the overall positive trends in global markets toward e-Commerce, and for emerging markets the continued shift to m-Commerce.

"In February of this year we announced a new partnership with Indosat Ooredoo, Indonesia's second largest telecom provider, to launch a nationwide marketing campaign for CreateApp. We expect this partnership to greatly expand our market reach in Indonesia, especially where there is strong smartphone penetration and virtually no competition for DIY mobile app platforms like CreateApp.

"This campaign also presents up- and cross-sell opportunities for AtozPay, our fintech solution for businesses to go cashless in a market where 60% of the adult population is unbanked. The Indonesia market has the fastest adoption of mobile apps. It also has the largest and fastest-growing Internet economy, expected to grow at a 49% CAGR to more than $100 billion by 2025.

"CreateApp and our newly acquired U.S.-based business, Push Interactive, provide ‘e-Commerce enablement,' with this now more important than ever for enterprises and brands around the world. Key to our acquisition of Push is how it has provided Weyland, which historically has been focused on South East Asia, a well-established beachhead in North America. We believe this will allow us to attract new users to CreateApp and AtozPay more quickly and cost efficiently.

"Push's eCommerce platform is highly synergistic to our existing m-Commerce technologies, including AtozGo, our hyper-local, ‘foot-powered' food delivery service operated by our AtozGo fintech subsidiary in Jakarta. We recently reported that the number of registered users for AtozGo reached more than 100,000. This major milestone was achieved within only eight months since AtozGo's official launch. Given the trending, we see AtozGo growing to 1 million users by year-end.

"AtozGo users are collectively generating an average of more than 15,500 delivery orders per day after hitting a high of 17,500. Orders declined about 10% due to the ongoing 14-day period of ‘social distancing' recommended by the government to slow the spread of the coronavirus, with this resulting in more people not commuting into the city and instead working from home. However, offsetting this has been an increasing percentage of orders for unprepared food and household supplies from local grocery and convenience stores.
"As we anticipated, our success with AtozGo has attracted the attention of other larger delivery service providers who traditionally operate in areas that require motorized delivery, and we've been involved in a number of ongoing discussions that could involve a potential buyer of AtozGo or a major partnership.

"The valuations of app-based food delivery services like AtozGo are highly favorable. If you look at the industry landscape, whether it's an Uber Eats or DoorDash, or even similar services in Southeast Asia like GrabFood or Go-Food, the average value per user is around $330. For AtozGo, this would imply a stand-alone valuation of around $33 million.

"CreateApp's subscription-based model and the advantages of digital customer interaction continue to drive business activity despite the problems created by the coronavirus. There is now a greater focus with consumers on buying things that don't require going out, but which you can order online and have it delivered to your door. As a result, we continue to expect growth in 2020, with our positive outlook aligned with industry analyst expectations for all e-Commerce- focused companies.

"We continue to work to elevate our profile in the financial community, since we believe the market valuation for a company like ours with $34.6 million in subscription-based revenue should garner a several times multiple in its price-to-revenue ratio. Publicly traded Software-as-a-Service and Platform-as-a-Service companies in our peer group typically trade at an average of around 10x revenues. Other microcap comparables trade at around 4x to 5x revenues on average, still considerably above our trading range. We expect the revenue and synergistic offerings of Push should drive our valuation even higher.

"We understand the benefit to our valuation of uplisting to a national exchange, and that such a listing would provide our investors with better trade execution and liquidity, as well as increase our visibility with retail and institutional investors. Near the end of February, we implemented a 1-for-13 reverse split of our common stock to allow our stock price to meet listing requirements. No one anticipated that so soon after that the spread of the coronavirus would hit the U.S. so hard and crush the financial markets. But we are continuing to advance the application process and hope to receive approval soon.

"To drive business growth and expansion, for the remainder of 2020 we will continue to focus on supporting our channel partners and enhancing our platform offerings. We expect margins to improve as we introduce more value-added services and increase our revenue base. We will also continue to evaluate a number of attractive merger and acquisition opportunities. We have the team and infrastructure to execute on our strategic business plan, but we also plan to continue to invest in our platform and people, with a focus on global expansion and user growth above all else. Given our momentum and proven differentiated products and strategies that address large and growing global markets, we anticipate finishing the year better and stronger than ever before.

"We came into 2020 with an annualized run rate of more than $48.6 million, or $60.6 million on a combined pro forma basis with Push. This compares to the $34.6 million in revenue for Weyland alone in 2019. In Q1 2020, we anticipate combined revenue of more than $15 million, with Push contributing to this more than $3 million. Given these results, we believe we remain on track for another year of double-digit organic growth, and triple digit acquisitive growth when factoring in the contribution of Push."

2019 Financial Summary
Revenue increased 53% to a record $34.6 million in 2019, as compared to $22.7 million in 2018. The increase was due to a push for market share for the CreateApp platform during 2019 in highly competitive emerging markets as well as new subscriptions sold to existing customers and subscriptions sold directly to new customers.

Gross profit increased 55% to $6.2 million or 18.0% of revenue compared to $4.0 million or 17.7% of revenue in 2018.

Total operating expenses increased 62% to $12.8 million from $7.9 million in 2018.

Net loss was $6.5 million or $(0.11) per basic and fully diluted share, compared to net loss of $4.1 million or $(0.14) per basic and fully diluted share in the same year-ago period.

At December 31, 2019, cash and cash equivalents totaled $3.0 million, compared to $0.7 million on December 31, 2018. The increase was primarily the result of proceeds from an equity offering.

Guidance
In Q1 2020, the company anticipates revenue of approximately $15 million, with the contribution of its new Push Interactive subsidiary totalling more than $3 million.

Conference Call
Weyland management will host a conference call to discuss its fourth quarter 2019 results tomorrow morning, followed by a question and answer period.

Date: Monday, March 30, 2020
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Toll-free dial-in number: 1-888-394-8218
International dial-in number: 1-323-701-0225
Conference ID: 6710935

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 8:00 p.m. Eastern time on the same day through April 13, 2020, as well as available for replay via the Investors section of the Weyland Tech website at weyland-tech.com/ir/.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 6710935

About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.

Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.

About the Use of Non-GAAP Financial Measures
Weyland management believes the use of adjusted EBITDA is helpful to assessing the company's financial performance. The company defines adjusted EBITDA as income before interest and financing expense, provision for income taxes, depreciation and amortization, stock-based compensation and acquisition expense.

Adjusted EBITDA is not a measurement of financial performance under generally accepted accounting principles in the United States or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the company's core business operating results and those of other companies, as well as providing an important tool for financial and operational decision making and for evaluating the company's own core business operating results over different periods of time.

The company's adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in the industry may calculate non-GAAP financial results differently, particularly related to non-recurring, or unusual items. The company's adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. The company does not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.

The company has not provided a reconciliation to nearest GAAP measure in this press release since the actual amount or range has not yet been determined, and it would require unreasonable efforts to report a reconciliation of this information to the nearest GAAP measure.

Important Cautions Regarding Forward-Looking Statements
This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.

Company Contact
Brent Suen, CEO
Weyland Tech Inc.

Media & Investor Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7566






Weyland Tech (OTCQB:WEYL) is a featured fintech stock on

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#Solar / #Cannabis News: SinglePoint, Inc. (OTCQB: $SING) Files Full Year and Fourth Quarter 2019 Financial Results; @_Singlepoint_


#Solar / #Cannabis News: SinglePoint, Inc. (OTCQB: $SING) Files Full Year and Fourth Quarter 2019 Financial Results; @_Singlepoint_

Reports Record Annual Revenue of $3,343,833 and Record Gross Profit of $990,777 for the Full Year ended December 31, 2019


SinglePoint Revenue Growth 2017 – 2019

Financial Highlights:
·        Full Year Revenue increased 189% to a record $3,343,833 million
·        Full Year Gross profit increased 269% to a record $990,777 thousand
·        Repaid Convertible note payable to investor (the "CVP Note") dated October 10, 2017

Operational Highlights:
·        Completed acquisition of Direct Solar America ("Direct Solar") in May 2019
·        Direct Solar strategically expanded coverage to multiple states.
·        Direct Solar Residential Business Unit achieved profitability in 2019
·        Added Commercial division to address emerging opportunities identified through strategic partnerships
·        Transitioned to a fully reporting public entity
·        Unveiled smokable hemp products at 2019 NACS show followed by the subsequent launch of our proprietary brand, 1606 Original Hemp

Phoenix, Arizona - March 31, 2020 (Investorideas.com Newswire) SinglePoint Inc. (OTCQB: SING) today reported audited financial results for the three and twelve months ended December 31, 2019. For the years ended December 31, 2019 and 2018, the Company had total sales of $3,343,833 and $1,154,671, respectively, representing an 189% increase in year over year gross revenue.


The primary driver of the revenue increase of$2,189,162 in revenues was due to the acquisition of Direct Solar in May 2019 representing six months of revenue through December 31, 2019. On a full-year unaudited pro forma basis Direct Solar America would have surpassed $4,000,000 in revenue as reported in the 2019 Annual Report. The Gross Profit was $990,777 for the year ended December 31, 2019, compared with a Gross Profit of $267,799 for the year ended December 31, 2018, representing a 269% increase for the year over year. The overall net loss decreased in 2019 as compared to 2018.

"The positive operational results in 2019 represent the commitment we have to our stakeholders to enhance revenues by executing on growth initiatives and acquisitions that we believe will continue to add value. We are ecstatic about the continued growth of SinglePoint and look forward to achieving significant growth through 2020. Through the acquisition of Direct Solar America, we have firmly established ourselves as a leading provider of residential solar concierge services, designed to assist customers with making the best choice based on their specific needs. Throughout 2019 and into 2020 Direct Solar has continued to grow revenue and expand its service footprint which now includes coverage in 25 states. Business development and expansion is continuing as contractors continue looking for solutions that increase their revenue and bottom such as those provided to them when they partner with the Direct Solar Residential Platform," according to Greg Lambrecht, Chairman and CEO of SinglePoint.

The success and rapid achievement of business unit profitability by the Direct Solar Residential Business Unit gave us confidence to support the creation of a separate business unit for commercial solar sales. The Direct Solar Commercial Business unit, established in the second half of 2019, quickly built a robust pipeline of small to mid-sized commercial deals that have the ability to generate immediate and long term revenue representing millions of dollars of combined annual and recurring revenue potential.

"I am extremely proud of the results driven by our senior management team in 2019. As a standalone entity, the Direct Solar America Residential Business Unit ultimately ended the year profitably, which is an incredible achievement for a start up in its first few months of operation. These profits were allocated to enable initial funding and startup costs for the Commercial and Capital Solar Business Units. As SinglePoint grows we will continue to seek out additional business opportunities internally and externally in the renewable energy sector," states Greg Lambrecht CEO SinglePoint.

In addition to the annual revenue growth results and operational improvements, the Company successfully re-paid a convertible investor note, (the "CVP Note") dated October 10, 2017, during the first quarter (Q1) of 2020. The Company and management will continue to find accretive ways to work with our investing partners to strategically eliminate outstanding notes in order to improve the balance sheet as we believe it is in the best interest of our shareholders. The Company’s fully reporting status will improve our ability to access the necessary growth capital through more traditional financing sources and it should be further enhanced by its entrance into multiple emerging business markets in conjunction with delivering consistent annual revenue growth as represented in the 2019 audited financial results.

About SinglePoint, Inc.
Founded in 2011 SinglePoint, Inc (OTCQB: SING) invests in and acquires brands and companies that will benefit from injection of growth capital and the sales and marketing expertise of SinglePoint. The company portfolio currently includes solar, hemp and technology applications. SinglePoint is working to grow the company to a multinational brand.

Connect on social media at:
For more information visit: www.SinglePoint.com

Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Corporate Communication
SinglePoint Inc.
888-OTC-SING
investors@SinglePoint.com
SinglePoint.com

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. For Disclosure purposes SinglePoint Inc (OTCQB: SING) is a paid  annual news and social media company on Investorideas.com.  More disclaimer info: 
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#AI News: VSBLTY (CSE: $VSBY.C) (OTC: $VSBGF) /RadarApp Commence Testing with Crowd Temperature Scanning in Mexico City Counties as #COVID19 Screening Tool; @vsbltyco

#AI News: VSBLTY (CSE: $VSBY.C) (OTC: $VSBGF) /RadarApp Commence Testing with Crowd Temperature Scanning in Mexico City Counties as #COVID19 Screening Tool; @vsbltyco

Philadelphia, PA - March 31, 2020 (Investorideas.com Newswire) VSBLTY Groupe Technologies Corp. (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) ("VSBLTY"), a leading retail software and technology company, and RadarApp, a Smart City Solutions provider, are now testing crowd temperature scanning as a tool to help identify potential at risk individuals and ultimately reduce the spread of disease. The testing was launched at the urging of Mexico City officials who are investing in the safety kits and integrated security program that is already proving successful in reducing crime.


As previously announced, the firms are installing thousands of security kits, powered by VSBLTY software, in the initial phase of the "Smart City" intelligent camera network program, RADAR. VSBLTY previously announced this deal to have a projected three-year value of $10M USD. In addition to a remarkable impact on crime reduction, VSBLTY is working with RadarApp to test the addition of infrared camera capability that enables temperature scanning of crowds in various locations along with a correlation to face capture.

The system being tested is a non-contact, real time camera technology that provides continuous monitoring for health and security personnel on a mobile app. A major objective of the program is to provide an efficient temperature screening tool for monitoring public spaces with the pre-emptive scanning of persons entering facilities such as restaurants, bars, schools, and hospitals. Also being explored is the application of this temperature monitoring capability to Mexico City buses and transit operations.

RadarApp Co-founder and CEO Rodrigo Calderon commented, "Temperature sensing camera capability is an important addition to the overall RADAR solution as it applies directly to the population we serve and the government authorities that are driving the deployment."

VSBLTY Co-founder and CEO Jay Hutton said, "It is hoped that the perfection and deployment of this technology will serve as a public screening tool to help identify individuals who may be a potential risk of spreading disease and assist in accelerating the safe return to normality we are all desperately seeking."

Investor Relations
MarketSmart Communications Inc.
+1-877-261-4466
info@marketsmart.ca

CHF Capital Markets
Cathy Hume, CEO
+1-416-868-1079, x231
cathy@chfir.com

CONTACT: Linda Rosanio
609-472-0877lrosanio@vsblty.net

About VSBLTY (www.vsblty.net)
Headquartered in Philadelphia, VSBLTY (CSE: VSBY) (Frankfurt:5VS) (VSBGF) is the world leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS- based audience measurement and security software that uses artificial intelligence and machine learning.

FORWARD LOOKING STATEMENT
This news release contains forward-looking statements, including statements regarding the Offering and the future price of the Shares on the Canadian Securities Exchange, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and which are described in the Company's public filings available under its profile at www.sedar.com. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as required by Canadian securities laws.

LINDA ROSANIO
VSBLTY, INC
609-472-0877
LROSANIO@VSBLTY.NET

VSBLTY Groupe Technologies Corp. (CSE: VSBY) is a featured Tech / AI stock on Investorideas.com


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure: VSBLTY is a paid PR, news and social media client on Investorideas.com as of March 1, 2019  https://www.investorideas.com/About/Disclaimer.asp
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Monday, March 30, 2020

The #AIEye: Windfall Geotek (TSXV: $WIN.V) Announces EagleEye #Drone for #AI-Driven Mining Exploration and Datametrex AI (TSXV: $DM.V) Working with US Gov’t on #COVID19



The #AIEye: Windfall Geotek (TSXV: $WIN.V) Announces EagleEye #Drone for #AI-Driven Mining Exploration and Datametrex AI (TSXV: $DM.V) Working with US Gov’t on #COVID19

Global AI in Manufacturing Market to Reach $27 Billion by 2027



Point Roberts WA, Vancouver BC – March 30, 2020  – Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today’s edition of  The AI Eye-  watching stock news, deal tracker and advancements in artificial intelligence.

Listen to today’s podcast:



Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence

Stocks discussed: (TSXV:WIN) (TSXV:DM)

Windfall Geotek Inc. (TSXV:WIN) has announced the launch of EagleEye, described as “a drone-based solution for AI-driven digital exploration in mining.” The company plans to partner “with operators of leading surveying companies to obtain geophysical data and generate potential drill targets using drones, modified sensors, and the CARDS (Computer Aided Resources Detection System) AI software system.” Michael Fontaine, President and CEO of Windfall Geotek, commented:

"Our new services have allowed us to bring to market the survey, sensor, and AI-driven software for digital exploration. Our ability, in the mining sector, to find targets is directly tied to the quality of the source data we receive from our customers. EagleEye will allow us to work more closely with our customers, generating a better return for their investors with our CARDS AI-generated targets.

Datametrex AI Limited (TSXV:DM) is working with agencies in the U.S. government on social media relating to COVID-19. Datametrex AI CEO Marshall Gunter explained:

“We are thrilled to be working with the US Government on this very important issue. We recently completed work for Democracy Labs on #disinformation in social media regarding #covid19 and #coronavirus and secured a relationship with Carnegie Mellon University IDeaS. Both announcements assisted in getting Nexalogy in front of the Government Agencies for this current opportunity in the United States. The solid foundation we have built over the past years with our Canadian Government clients like  DRDC, the Canadian Military and NATO have positioned Datametrex to be able to provide military grade solutions for today's social media challenges.”

Global AI in Manufacturing Market to Reach $27 Billion by 2027

A report from Meticulous Research finds that the global AI in Manufacturing market is expected to reach $27 billion by 2027 with a compound annual growth rate (CAGR) of 39.7 percent in the forecast period. An excerpt from the report description outlines the heavy metals and machine segment of the market:

Based on industry vertical, the automotive sector commanded the largest share of the overall AI in manufacturing market in 2019. However, the heavy metals & machine manufacturing sector is projected to grow with the fastest CAGR during the forecast period. In order to remain competitive, attract new talent, and retain knowledge from an aging workforce, the metal and material manufacturing companies are increasingly adopting  smart technologies like Artificial Intelligence (AI). The factors such as growing need to optimize the production line, reduce unplanned downtime, improve operational productivity, reduce cost, and create synergies across the facility fuels the adoption of AI in metal and materials manufacturing sector. Moreover, the core focus of AI in metals is managing continuous production processes to ensure equipment reliability and consistency. This means using AI in areas like tracking, predicting and managing quality, and eliminating variability by learning from historical data.

Sam Mowers, Investorideas.com


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