Posted by AGORACOM-JC
at 9:34 AM on Tuesday, December 1st, 2020
TORONTO, Dec. 01, 2020 – Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to report its financial results for the three and nine months ended September 30, 2020. The Company’s full Financial Statements and Management Discussion & Analysis (“MD&A”) are available at www.sedar.com . All amounts are reported in Canadian dollars unless otherwise stated.
Financial Highlights
The following table summarizes revenue and net income (loss) for the three and nine months ended September 30, 2020 and September 30, 2019.
Three monthsended September30, 2020
Three months ended September 30, 2019
Change
Percentage Change
Revenue
227,410
214,744
12,666
6%
Net Income
74,334
38,935
35,399
91%
Ninemonthsended September30, 2020
Nine months ended September 30, 2019
Change
Percentage Change
Revenue
1,124,081
526,714
597,367
113%
Net Income (Loss)
141,974
(467,322)
609,296
not meaningful
“In Q3 2020, BCF achieved positive net income and an increase in revenue compared with Q3 2019. This outcome was a direct result of increased client development activity as well as growing market acceptance of blockchain technology. The Company has five active clients in various project stages, and our pipeline is robust. We have also taken the opportunity to capitalize the business over the last few months. We are well positioned to continue expanding our consulting business and begin to explore product opportunities that take advantage of our significant expertise in the blockchain space,” said Dan Wasyluk, CEO of Blockchain Foundry.
Outlook
The Company continues to develop its suite of blockchain infrastructure technology products and build its blockchain development and advisory business.
On the product side, BCF is building core technology to enable highly scalable, low cost, high speed blockchain transactions (Z-DAG), allow users to incorporate multiple blockchain systems within the same project (Syscoin-Ethereum bridge), and initialize custom blockchain tokens (Spark Wallet). BCF’s technology infrastructure is suitable for a variety of use cases where speed, scalability, fees and security are important factors, including stablecoin projects, loyalty applications, digital identities, and remittance services.
On the advisory side, BCF endeavours to work with clients who share the same priorities and vision for what blockchain technology can achieve for governments, businesses and consumers. To date, BCF has worked with clients across industries including digital identity, financial services and token wallet and development infrastructure.
Q32020BusinessHighlightsand Subsequent Events
Entered into a blockchain development agreement with NIX Platform. The agreement has a duration of approximately 6 months and a value of approximately $60,000. For more information please see the Company’s press release dated September 1, 2020.
Entered into a blockchain development agreement with a GDPR compliance solution provider. The initial phase of the agreement has a duration of approximately 4 weeks and a value of approximately $50,000. For more information please see the Company’s press release dated October 5, 2020.
Entered into an agreement for a drawdown equity financing facility of up to $4 million over a 24-month period with Alumina Partners (Ontario) Ltd., a subsidiary of Alumina Partners LLC, a New York-based private equity firm. Subsequently, the Company has drawn down three tranches under this agreement for total gross proceeds of $450,000. For more information please see the Company’s press releases dated October 6, 2020; November 10, 2020; and November 30, 2020.
About Blockchain Foundry Inc.
Blockchain Foundry develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.
Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information.
Forward-looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BCF are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties, and contingencies. Many factors could cause BCF’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements.Although BCF has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. BCF disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Posted by AGORACOM-JC
at 7:42 AM on Tuesday, December 1st, 2020
Announced that it has signed an agreement with high-end Italian retailer Gruppo Coin (“Coin”) to provide short-term loans to Coin’s social-media-influencer online sales partners.
Coin (https://en.coin.it/), Italy’s largest chain of department stores, was one of the first foreign retailers to recognize and leverage the power of social media influencers to sell their products in the world’s largest retail market.
Chinese influencers are using popular social media platforms such as TikTok, Sina Weibo and WeChat to revolutionize online retail sales. They create entertaining shows broadcasted on the platforms during which they promote and sell products with which they are associated.
A show will typically cost $1,000 to $10,000 to produce, including promoting it to followers, detailing the products and the limited quantities available for the show in order to create a buzz and the FOMO (fear of missing out) factor with their followers
Montreal, Quebec–(December 1, 2020) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that it has signed an agreement with high-end Italian retailer Gruppo Coin (“Coin”) to provide short-term loans to Coin’s social-media-influencer online sales partners.
Coin (https://en.coin.it/), Italy’s largest chain of department stores, was one of the first foreign retailers to recognize and leverage the power of social media influencers to sell their products in the world’s largest retail market. Chinese influencers are using popular social media platforms such as TikTok, Sina Weibo and WeChat to revolutionize online retail sales. They create entertaining shows broadcasted on the platforms during which they promote and sell products with which they are associated.
A show will typically cost $1,000 to $10,000 to produce, including promoting it to followers, detailing the products and the limited quantities available for the show in order to create a buzz and the FOMO (fear of missing out) factor with their followers. On average, each influencer will produce about 250 shows per year. The average show typically lasts 3 to 4 hours and offers a variety of products. Top influencers are usually able to sell out their inventory of a particular product within the first 10 minutes of the product being presented. Many influencers have achieved celebrity status, and this is rapidly becoming the preferred way to sell a variety of products in China, from cosmetics to clothing to small appliances and everything in between. In addition to the cost of producing the shows, the influencers must provide their large retail partners with a deposit of 20% to 30% of the value of the products they expect to sell for each show. This is where Peak and the Cubeler Lending Hub come into the equation. With today’s announced agreement, Coin’s influencer partners will be eligible to have the cost of producing their shows, their required cash deposits and their entire product orders financed through the Lending Hub. Peak will earn its customary ~ 2% fee of the value of the loans provided for facilitating the transactions.
“We’ve been studying this space for months, identifying some of the top influencers and brand ambassadors on China’s top social media platforms,” commented Peak China CEO Liang Qiu. “We now have a network of almost 55,000 influencers, each either with their own e-Shops or affiliated with at least one e-Shop, over 120M combined followers and a proven track record of being able to effectively move products. With a network of followers more than 3 times larger than the entire Canadian population, we believe we’re well positioned to talk to virtually any retailer or brand around the world to offer an effective gateway into the Chinese retail space,” concluded Mr. Qiu.
“One of Peak’s objectives has always been to serve as a bridge that connects North American investors and businesses to China,” said Peak CEO Johnson Joseph. “We’ve been working very hard behind the scenes for quite a while now on a way to help Canadian businesses either do more business in China or gain access to the Chinese market. Although the agreement announced today is not with a Canadian company, it certainly sets the stage for us to sign similar agreements with Canadian retailers. Our network of influencers is already excited about the prospects of selling ice wine and a variety of uniquely Canadian products not typically available in China. By capitalizing on the power of social media, I think we’re once again proving our ability to innovate and think outside the box when it comes to the many ways in which we can use the Lending Hub for the benefit of small businesses and entrepreneurs.”
Wall Street Reporter’s NEXT SUPER STOCK Livestream – December 3, 2020
Peak will be a featured presenter at Wall Street Reporter’s NEXT SUPER STOCK livestream conference on Thursday, December 3, 2020 at 12:30pm EST. CEO Johnson Joseph will discuss Peak’s agreement with Gruppo Coin, what it means for the Company going forward from an international standpoint and answer investor audience questions. Those interested can click the following link to register and join the livestream: Next Super Stock Livestream Registration.
About Peak Fintech Group Inc.:
Peak Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: http://www.peakfintechgroup.com
For more information, please contact:
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 [email protected]
Peak Fintech Group Inc. Johnson Joseph, President and CEO 514-340-7775 ext.: 501 [email protected]
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Posted by AGORACOM
at 7:27 AM on Tuesday, December 1st, 2020
St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN)(OTC:SXOOF) (FSE:85G1) is pleased to announce that it has signed a Binding Letter of Intent with Altair International (US-OTC: ATAO) pursuant to which St-Georges has agreed to provide access to its patent pending lithium processing technology for lithium-in-clay mineral deposits, and also agreed to jointly develop a patentable electric vehicle battery recycling industrial process.
In return for the access to the lithium processing technology and as part of their contribution in the development of patentable intellectual property in regard to EV Battery Recycling, Altair will issue 2,000,000 common shares at signature of this Binding LOI. The company will also commit to 2 subsequent share issuance of 2 million shares each, the first at the filing of a joint patent application in regards to the battery recycling R&D effort and the second at the start of an Industrial Pilot Plant demonstrator of the battery recycling process. If all milestones are completed, a total of 6 million common shares of Altair will be issued in favor of St-Georges.
Altair will also make a total of US $300,000 cash payments to St-Georges. A first payment of US $150,000 on or before April 1st, 2021 and a second payment of US $150,000 on or before August 1st, 2021. Both companies will contribute equally to the battery recycling research & development effort and to the design and construction of a battery recycling industrial pilot-plant circuit in St-Georges contracted installations in Quebec.
Royalties
On Altair Nevada Lithium Project
The Parties will establish a 5% royalty stream on the commercial output of the Nevada Property for the whole mine life period. This royalty will be transferable at the discretion of St-Georges or its successors. It will be opposable to any successors of Altair as a lien on the mining assets. St-Georges and Altair will negotiate a right of first refusal in favor of Altair. The royalty, to be negotiated within the guidelines of the “Royalty Formula”, will take the form of a Net Revenue Interest or Net Revenue Return (“NRR“).
Based on the location of the lithium-in-clay mineral project of Altair, 20% of the established NRR will be assigned to Iconic Minerals (TSX-V: ICM) based on current active agreements between the two companies.
On the Commercial Recycling of EV Batteries
The parties will establish a mutually beneficial partnership royalty stream on the commercial implementation and output of the battery recycling technology. The proportionate ownership will be transferable at the discretion of St-Georges, Altair or its successors.
The parties agreed to enter into a long form Definitive Agreement on or before February 5, 2021. Definitive agreement will be subject to review by regulatory authorities.
The companies expect to issue additional information in the coming weeks regarding the joint battery recycling technology development effort.
Vilhjalmur Thor Vilhjalmsson, St-Georges’ President & CEO commented: “(…) With the continued work of our research and development team, it is a great pleasure to team up with Altair to take this process further. The SX team has been looking at alternative methods, including using our proprietary technology in recycling EV batteries. We can see this as an opportunity to further broaden the scope of our developments and welcome the partnership. This will also enable us to finetune the Nevada operations already in place with Iconic Minerals over the forthcoming years (…)”
Leonard Lovallo, President of Altair, commented that “We believe that the lithium extraction and purification processes which St-Georges has developed have the potential to reshape the economics of the lithium mining sector, and we are incredibly excited to have partnered with them on this endeavor. As the demand and marketplace for lithium continues to expand with the ever-increasing popularity of EV vehicles across the globe, the scope and applications of the technologies which we are partnering with St-Georges on will only increase.”
Lithium Processing Technology Update
St-Georges technical team is now ready to initiate work aimed at optimizing the purification process of its lithium process and recuperation technology. The objectives are to minimize chemical losses, optimize total process recovery and optimizing the value of the byproducts. The company also intends to validate multiple resources and assure the selectivity of lithium recovery works on different types of resources.
Multiple initiatives will be run in parallel with the company’s strategic partners and suppliers. This effort should lead to a complete metallurgical simulation to size and price equipment. St-Georges is committed to utilizing multiple laboratories in parallel in order to protect intellectual proprietary processes and to accelerate IP extension.
St-Georges contractors have completed the preparation of a spodumene concentrate sourced from a Quebec based mineral resources and the company is now ready to initial leaching tests in a pilot plant environment. The company is expecting material recently prepared from the Bonnie Claire Project in Nevada from its partner Iconic Minerals. The company expects to run a complete pilot mining processing circuit on reception of the material. This next development effort should establish the recuperation and purification parameters needed specifically for that project as well as the final tweaked chemical recipe for the resin used to coat the lithium balls used in the last recuperation and refining stage.
ON BEHALF OF THE BOARD OF DIRECTORS
“Vilhjalmur T. Vilhjalmsson”
VILHJALMUR THOR VILHJALMSSON President & CEO
About St-Georges
St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls all the active mineral tenures in Iceland. It also explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on the Quebec’s North Shore.
Posted by AGORACOM-JC
at 7:25 AM on Tuesday, December 1st, 2020
ImagineAR™ Elves Help Interactive 3D Santa Come into Homes Easily
Using the free ImagineAR™ app on their phones, parents can bring a life-sized talking 3D Santa directly from the North Pole into their living rooms for photos and videos.
NORTH POLE, Dec. 1, 2020 – ImagineAR Inc. (CSE: IP) (OTC: IPNFF) Santa Claus knows how important it is to keep children and families safe and healthy, so for the first time ever, he will enter homes of good little boys and girls via their parents’ smartphones, rather than chimneys. Using the free ImagineAR™ app on their phones, parents can bring a life-sized talking 3D Santa directly from the North Pole into their living rooms for photos and videos.
“Yes, it’s true,” said Santa. “The elves at ImagineAR and I wanted to bring some early holiday cheer to children this year, since social distancing has stopped my visits to shopping malls, stores and special events. We wanted to make sure children could still have their yearly photo with me and could even dance with me in their very own homes,” the jolly one said.
Inspired by the distraught 5-year old daughter of a fellow elf, ImagineAR head elf Alen Paul Silverrstieen and his team got to work. “This little girl wanted to visit Santa before the holidays and while she understood it wasn’t safe, it broke Santa’s heart,” said Silverrstieen. “The big guy was quite clear- make it so parents, grandparents and friends can use their smartphone to bring him directly into the homes of children everywhere for photos. We went a step further with Santa’s magic- using the free ImagineAR app and from the phone, folks can even record video of Santa Claus dancing with their little ones in front of their very own trees to share with family and friends!” he announced proudly.
To have Santa drop in to your home, just download the free ImagineAR app in the IOS App Store or Google Play on your mobile device, select “AR Near Me”, select your preferred Santa experience from the bottom of the screen, and Santa will magically appear right in front of you through your phone. The ImagineAR app has multiple Santa experiences to choose from. “In case a half-eaten cookie and empty glass of milk aren’t enough, we can even provide parents with photographic ‘proof’ that Santa was in their home on Christmas Eve stealthily with his big bag of toys,” whispered Silverrstieen.
“I’m an old guy, set in my ways,” chuckled Santa. “Don’t tell anyone, but I’ll likely still use chimneys, too. But my ImagineAR elves have really outdone themselves..Wishing everyone a very merry Christmas! Ho! Ho! Ho!”
About ImagineAR ImagineAR Inc. (CSE: IP) (OTC: IPNFF) is an augmented reality (AR) platform, ImagineAR.com, that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage videos, information, advertisements, coupons, 3D holograms and any interactive content all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The AR Enterprise platform supports both IOS and Android mobile devices and upcoming wearable technologies.
For more information or to explore working with ImagineAR, please visit www.imagineAR.com .
We encourage you to do your own due diligence and ask your broker if ImagineAR Inc. (cse: IP) is suitable for your particular investment portfolio*.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward-looking information is based on certain key expectations and assumptions made by ImagineAR’s management. Although ImagineAR believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because ImagineAR can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and ImagineAR disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
As the name implies “PropTech” is a combination of two words and stands for “property technology.” As simple as that is, the implementation and importance of PropTech is anything but.
Like every other industry on the planet that is incorporating technology to create greater efficiencies and experiences, the commercial real estate market is no different and is seeing the rapid adoption of;
Artificial Intelligence
Machine learning
Big data
Internet of Things (IoT Sensors)
Cloud computing
To create cost savings by reducing and even eliminating existing costs, create greater efficiencies for the operation and maintenance of real estate assets, as well as, improve the design of new builds.
IMPACT OF COVID-19
The COVID-19 pandemic has served to significantly increased the demand for PropTech in the commercial real estate market as follows:
The need for solutions to get workers back into workplace buildings and offices. Specifically, the need to identify bacteria and viruses in indoor air quality, as well as, the ability to sanitize immediately and effectively.
The need to create even greater cost savings and efficiencies for real estate owners that will continue suffering losses until workers significantly return to the workplace.
WHY UNIVERSAL PROPTECH (UPI:TSXV)?
Whereas many companies are just now trying to capitalize on the opportunities presented in the current and massive future of PropTech, Universal PropTech Inc. (“UPI”) a diversified investment platform delivering healthy building solutions and services for building developers, owners and operators in Canada. More than just lip service, UPI has been successfully delivering its PropTech solutions for years, with revenues over the last 3 years as follows:
2017 – $13.8M
2018 – $13.7M
2019 – $15.9M
Headquartered in Toronto, UPI has offices across Canada including Halifax,Montreal, and Ottawa.
COMPANY HIGHLIGHTS
Used in Federal Government facilities for over 40 years
Provides real estate managers turnkey HVAC Building Controls design, equipment, installation and ongoing operations and maintenance services for Industrial, Commercial, Institutional and Multi-residential customers
Already possesses under-utilized IP in building controls to add in additional monitoring inputs and equipment controls
Diverse revenue streams via products, installations and ongoing
Key strategic partnerships afford the ability to monitor real-time utility meters, key BAS and systems data in a building.
Team has the capability to make sense of this data and apply advanced web tools to make recommendations to fine tune a building, saving from 5% to 15% of a facilities energy spend without capital expenditure
VCI offers the depth and breadth of Building Automation Systems (BAS) knowledge and products from the likes of Siemens and Honeywell to support building automation systems
COVID-19 STRATEGY
As businesses return to the office, property managers must think about the design and safety of their buildings for occupants. Traditional cleaning methods are ineffective at preventing transmission. UV technology is able to sanitize all surfaces free from pathogens. UPI is capitalizing on this opportunity by building and acquiring UV technology as it is the best in the market to administer and integrate it into healthy buildings in Canada.
Posted by AGORACOM-JC
at 4:19 PM on Monday, November 30th, 2020
Q3 2020 revenue increased by 32% over Q2 2020
Adjusted EBITDA of $848,249 reported for Q3 2020 compared to $206,435 for the same quarter in the prior year
Adjusted EBITDA for the nine months ended September 30, 2020 was $1,492,252 compared to $707,263 for the same period in the prior year
Revenue for Q3 2020 was $3.01 million down from $3.27 million in Q3 2019, and year to date totalled $8.05 million down from $10.86 million for the comparative period in the prior year
TORONTO, ON / November 30, 2020 / Kontrol Energy Corp.(CSE:KNR, OTCQB:KNRLF, FSE:1K8) (“Kontrol” or “Company”) a leader smart buildings and smart cities through IoT, Cloud and SaaS technology announces its financial results for the nine months ended September 30, 2020.
A complete set of Financial Statements and Management’s Discussion & Analysis will be filed on SEDAR (www.sedar.com) on November 30, 2020. A call to discuss the financial results has been scheduled for Monday, November 30, 2020 at 4:30pm (EST).
“We had a significant improvement in the third quarter against an ongoing challenging backdrop as businesses continue to deal with the impact of COVID-19,” says Paul Ghezzi, CEO. “In addition, the Company achieved further advancements in the development of the Kontrol BioCloudTM viral and air-borne pathogen detection technology during the third quarter of 2020.”
Highlights
Q3 2020 revenue increased by 32% over Q2 2020
Adjusted EBITDA of $848,249 reported for Q3 2020 compared to $206,435 for the same quarter in the prior year
Adjusted EBITDA for the nine months ended September 30, 2020 was $1,492,252 compared to $707,263 for the same period in the prior year
Revenue for Q3 2020 was $3.01 million down from $3.27 million in Q3 2019, and year to date totalled $8.05 million down from $10.86 million for the comparative period in the prior year
Cash flow from operating activities for the nine months ended September 30, 2020 was $531,675
On August 1, 2020 Kontrol completed the acquisition of New Found Air (“NFA”), a building energy solutions business
Capital management activities during Q3 and subsequent to the quarter have strengthened the balance sheet (see below)
BioCloudTM product development continued at a rapid pace through the third quarter (see below)
Active capital management and balance sheet strengthening
Options and warrants converted into common shares:
Approximately 4.2 million options and warrants were exercised in Q3 and up to date of this press release (average exercise price was $0.73 per share)
Proceeds from options exercise
Q3 2020: $653,000
October 1, 2020 to date of this press release: $224,000
Proceeds from warrants exercise
Q3 2020: $1,404,000
October 1, 2020 to date of this press release: $805,000
Convertible debentures converted into common shares
Approximately 3.2 million common shares were issued in connection with convertible debenture conversions to common shares in Q3 and up to date of this press release
2024 convertible debenture conversion to common shares
Q3 2020: $866,000
October 1, 2020 to date of this press release: $143,000
Conversion price was $0.80 per share
2023 convertible debenture conversion to common shares
Q3 2020: $0
October 1, 2020 to date of this press release: $988,000
Conversion price was $0.50 per share
2020 debenture and 2022 debenture
The Company announced a non-brokered private placement for gross proceeds of $5,800,000, allowing existing holders of 2020 debentures to exchange for 2022 debentures maturing on October 31, 2022
Subscription proceeds are currently being processed in connection with the new 2022 debenture and the extension will be reflected in Q4 and the Company’s December 31, 2020 annual financial statements
Cash position
The Company’s cash balance as at September 30, 2020 was $3,065,995 compared to $644,313 as at December 31, 2019 for a net cash increase of $2,421,682. While proceeds from options and warrants exercise were significant contributors to the net cash increase, management is equally pleased with cash flow that was generated from operating activities of $531,675 for the year to date period.
The Company’s cash balance on day of this press release was approximately $3,800,000.
Q3 2020 and Year to Date Financial Summary
Financial Results
Three months ended
Nine months ended
(unaudited)
Sept 30, 2020
Sept 30, 2019
Sept 30, 2020
Sept 30, 2019
Revenue
$
3,012,386
$
3,266,270
$
8,047,477
$
10,856,816
Gross profit
$
1,601,830
$
1,709,248
$
4,315,650
$
5,465,008
Net loss
$
(193,541
)
$
(692,175
)
$
(1,305,904
)
$
(1,968,653
)
Basic and Diluted EPS
$
(0.01
)
$
(0.02
)
$
(0.04
)
$
(0.07
)
Add for adjusted EBITDA reconciliation:
Amort. and depreciation
$
538,159
$
486,187
$
1,490,017
$
1,355,686
Finance expense
$
250,346
$
272,458
$
816,742
$
779,277
Share based compensation
$
227,274
$
72,686
$
455,386
$
462,576
Acquisition related expenses
$
26,011
$
67,279
$
36,011
$
78,377
Adjusted EBITDA*
$
848,249
$
206,435
$
1,492,252
$
707,263
Kontrol BioCloudTM
The Company has made important progress on its BioCloud TM technology including the receipt of various certifications and filing of trademarks and patents. As part of our ongoing strategy to manage capital and accelerate towards the production of BioCloud the Company is working with various third-party suppliers and contract manufacturers. BioCloud TM product development costs incurred for the current year to date period and up to the time of this press release was approximately $615,000. The Company’s cash position and resources available are sufficient to commence the production of BioCloud TM.
* Adjusted EBITDA is a non-IRFS financial measure. The Company defines Adjusted EBITDA as net income or loss before interest, income taxes, amortization, and depreciation, share based compensation, and acquisition related expenses.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in smart buildings and smart cities through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by reviewing its profile on SEDAR at www.sedar.com
Posted by AGORACOM-JC
at 4:04 PM on Monday, November 30th, 2020
SPONSOR: Imagine AR Inc. (IP:CSE) (IPNFF:OTCQB) is an Augmented Reality platform that allows businesses to easily launch AR campaigns. Clients Include: NBA Sacramento Kings, Mall of America, AT&T Shape and The Basketball Hall of Fame. ImagineAR and NFL Alumni Academy recently signed a 5 year partnership agreement. The company was selected by Canadian pharmacy chain Shoppers Drug Mart to deliver Immersive AR Conference Experience and if that’s not enough, Imagine AR just signed its second La Liga team to provide AR experiences for fans. Learn More.
The future of live sport – how brands can make an impact with new digital possibilities
We’ve seen the already growing appetite for virtual event counterparts accelerate during the lockdown period.
Our consumer research found that football fans in the UK are now three times more likely to find the prospect of augmented reality (AR) replays and stats exciting, with younger fans more likely to use these technologies in the near future.
By: Mark Melling, Verizon Media
Digital fan experiences like the NFL’s ‘Watch Together’ synchronised livestream are reinventing the way in which consumers enjoy live sports content.
The absence of live sport throughout the COVID-19 pandemic has been felt strongly by fans like me across the globe. From the pre-game rituals, half-time debrief with friends and the atmosphere within the stadium, fans have been missing out on the communal and experience-led aspect of a physical game.
In response to this, we’ve adapted our strategy and looked at new and innovative ways we can elevate the sports fan experience as well as focusing on the entertainment sector more broadly.
We’ve seen the already growing appetite for virtual event counterparts accelerate during the lockdown period. Our consumer research found that football fans in the UK are now three times more likely to find the prospect of augmented reality (AR) replays and stats exciting, with younger fans more likely to use these technologies in the near future.*
This demonstrates how fans are starting to see the value these technologies bring, and so will be more likely to continue using them to enhance the digital experience – even when live sporting events start-up again.
More broadly, the expectation for consumers is that most offline events will have some sort of digital twin and be augmented by tech in some way. We’re already starting to see this amongst the younger generation, with 83% of UK millennials claiming they expect their digital experiences and interactions with brands online to be seamless, innovative, and to enhance what’s happening in the real world.*
The convergence of online and offline
These sorts of insights have been integral in driving our strategy and the platforms we use moving forward – highlighting the importance of exploring the convergence of online and offline.
As part of this, it’s been important for us to consider two key streams: live events with virtual integrations and virtual events with live integrations. The former will be vital for sport as virtual elements can be incorporated to enhance the offline experience.
For example, better quality video streaming, immersive experiences and real-time virtual reality (VR) and AR overlays that will allow viewers to watch the game from multiple angles – including cameras on the players and referees, so that fans can get a point of view shot and feel more involved in the action.
COVID-19 has been instrumental in accelerating demand for these types of experiences. And technology can help to create communal experiences for viewers, even when they are unable to attend the physical venue to watch the game with friends and family under current lockdown restrictions.
As a result, everyone working within the sports industry – from production and distribution to branding and marketing – has had to adjust their strategy and adapt to bringing digital experiences to the forefront. Much of this technology was already in the pipeline but the global pandemic has accelerated plans due to the need to shift to digital overnight.
NFL partnership: ‘Watch Together’
One of the ways we helped to improve the digital fan experience within the sports industry was through our recent partnership with the NFL to launch ‘Watch Together’.
The new platform consists of a co-viewing experience that enables fans to video chat on their phones whilst watching live games in the Yahoo Sports App in the US. Watch Together for NFL Live on Yahoo Sports will give fans the ability to invite up to three family and friends to watch live local and primetime NFL games on their phones through a synchronised livestream, creating an interactive, virtual experience that lets viewers feel like they are watching the game together.
On top of this, the new Yahoo Sports game centre experience offers fans the ability to see graphical replays of key NFL game plays in near real-time using its proprietary Next Gen Stats player tracking data. The NFL is the first launch partner for Watch Together, but it could easily be replicated across the whole sport sector and demonstrates the digital capabilities for consuming live events.
These viewing experiences will be game-changers moving forward, even post-pandemic, and will more intrinsically link the offline and online element of live events. This is an incredible opportunity for brands to test themselves. And marketers should be thinking about their engagement strategies now to establish themselves in this evolving world, taking hold of the unique digital opportunities that are arising.
Supercharging the experience with 5G
This is also where 5G can make a real impact – supercharging the fan experience through rich, real-time and immersive experiences. It will enhance existing technologies and help to cater for the increased demand for online events, while also elevating offline experiences in the future.
For example, e-commerce, social interaction and video replays in between games are all currently available but can be heightened, personalised and delivered in real-time at scale through the connectivity that 5G will enable.
Brands can tap into these opportunities by thinking creatively about ways to bring together the online and offline elements in a meaningful way that will connect with consumers. For live sports – and indeed live entertainment events more broadly – we can expect interactive and immersive experiences to become the norm, with fans looking for new ways to watch the game from their homes.
Brands that do not adapt and help to drive these unique experiences risk being left behind as we hurtle towards a more digitised future.
Posted by AGORACOM-JC
at 3:39 PM on Monday, November 30th, 2020
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UK to invest in AI and cyber as part of major defense spending hike
The UK has announced a massive boost in defense spending — £16.5 billion ($21.8BN) over four years, the biggest such spending bump for 30 years — in what prime minister Boris Johnson has described as a “once in a generation modernization” of the UK’s armed forces and “the end of the era of retreat” on funding for defense.
Overall the UK prime minister said the spending hike will create 40,000 jobs, adding that it will cement the country’s position as the biggest military defense spender in Europe and the second largest in NATO after the US.
Johnson said the focus for investment will be on cutting edge technologies that can “revolutionize” warfare — implying a major role for artificial intelligence and sensor-laden connected hardware in “forging our military assets into a single network designed to overcome the enemy”, as he put it in a statement to parliament, setting out the first conclusions from an the (ongoing) review of security, defense, development and foreign policy.
“A soldier in hostile territory will be alerted to a distant ambush by sensors or satellites or drones instantly transmitting a warning using artificial intelligence to device the optimal response and offering an array of options — from summoning an air strike to ordering a swarm attack by drones, or paralyzing the enemy with cyber weapons,” Johnson told the House of Commons today, speaking via video conference as he continues to self isolate following a coronavirus contact.
“New advances will surmount the old limits of logistics,” he went on, fleshing out the rational for spending on upgrading military technology. “Our warships and combat vehicles will carry directed energy weapons — destroying targets with inexhaustible lasers. And for them the phrase out of ammunition will become redundant.”
“Nations are racing to master this new doctrine of warfare and our investment is designed to place Britain among the winners,” he added.
The review sets out at least £1.5BN extra — and £5.8BN total — spending on military R&D which Johnson said would be “designed to master the new technologies of warfare”.
There will also be a new R&D center set up with a dedicated focus on artificial intelligence, he added.
An RAF Space Command center is also in the works — with the aim of launching British satellites including the UK’s first rocket from Scotland in 2022.
While the airforce will get new fighter system that Johnson specified will incorporate AI and drone technology.
He also confirmed the existence of a National Cyber Force — a joint unit consisting of personnel from the UK’s intelligence agencies and military personnel which runs cyberops targeting terrorism, organized crime and hostile foreign state actors.
He suggested the hike in military spending on emerging technologies will filter down into wider societal tech gains, telling MPs: “The returns will go far beyond our armed forces — from aerospace to autonomous vehicles — these technologies have a vast array of civilian applications, opening up new vistas of economic progress.”
Responding to Johnson’s statement, the leader of the opposition, Keir Starmer, welcomed the announcement of increased spending for defense and the armed forces — but accused the government of issuing another “press release without a strategy” — pointing out that successive Conservative governments have eroded defense spending over the past ten years.
“This is a spending announcement without a strategy. The government has yet again pushed back vital parts of the integrated review and there’s no clarity over the government’s strategic priorities,” said Starmer, going on to query how the spending hike would be funded, given the economic crunch facing the UK as a result of the pandemic — asking whether it will require tax rises or cuts to public spending elsewhere, such as to the international development budget.
Starmer also raised the awkward matter of the Russia report — wondering why Johnson’s government has not acted on the “urgent” national security risks identified there.
The report, by parliament’s intelligence and security committee, found the UK lacks a comprehensive and cohesive strategy to respond to the cyber threat posed by Russia and other hostile states that are deploying online disinformation and influence ops to target democratic institutions and values.
It also sounded the alarm about how much Russian money is finding its way into UK political party coffers.
“The prime minister speaks of tackling global security threats, improving cyber capability — and that is all welcome, and we welcome it — but four months after the intelligence and security committee published its report concluding that Russia posed… an immediate and urgent threat to our national security,” noted Starmer.
Replying, Johnson dodged all Starmer’s questions — branding his criticisms “humbug [that] takes the cake” and opting to attack the Labour leader for having served under the party’s former leader, Jeremy Corbyn, who did not support increasing UK defense spending.
Posted by AGORACOM-JC
at 3:24 PM on Monday, November 30th, 2020
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Top 5 Esports industry trends that you should know heading into 2021
The Esports industry is on the boom for the last few years and here the top 5 esports industry trends you should know in 2021
The Esports industry trends are on the blast for a significant long time now. Numerous speculators have just researched this million-dollar industry. On the off chance that you are additionally wanting to make enormous speculation, at that point esports can without a doubt bring you to benefit.
The esports business was esteemed at $906 million out of 2019 wherein it is relied upon to turn into a billion-dollar industry by 2020. At no other time, esports has been in feature than in this pandemic. Esports is huge, it has got all that you can consider; from esports betting, marketing, publicizing, advanced substance, and much more. Electronic Sports or esports has hit the spot looking to the consideration it got from the individuals around the world. The two novices and experts are helping in forming the new business patterns identified with esports.
Esports has just made its put in the standard and is good to go to become enormous. It has become an alluring specialty for speculators now. Numerous large brands have just become a piece of this. Also, understanding the current esports patterns is significant for every individual who is related to the esports business, straightforwardly, or by implication. Having earlier information about the market patterns of esports is similarly as significant as realizing the informational collections of the space.
Regardless of whether you are a game advancement organization or a non-endemic brand who is further hoping to contribute his/her well-deserved cash. Watching out for the change of the worldwide esports market can assist you with getting bits of knowledge about esports industry measurements and permits you to comprehend your esports crowd better.
In this article you will perceive how esports can enable your business to ascend the stepping stools of progress, here are the main 5 patterns in the esports market for 2020 that you should know to increase the value of your business.
Brand Investments
This is the start! As esports keep on developing, shrewd players will keep up with them as a brand in this way giving more substance to their buyers. Shirts, shoes, and gear, all must now be covered under the enormous brand names.
Conventional games don’t have the degree for brand publicizing yet esports, it is covering everything. The esports crowd is all insane consequently allowing the brands a chance to drive deals and assemble client reliability. PepsiCo’s Brisk was among the principal financial specialists who supported the Rocket League Championship Series. Before long, famous brands like Mastercard, Intel, Mercedes Benz, Puma, Nike, Adidas, Coca-Cola, and numerous others joined the race.
Brands are discovering esports as an occasion to pull in another crowd. What’s more, sponsorships can be an ideal method to accomplish that. Since individuals will in a general change to various brands so effectively and rapidly because of dependability and verification, esports is giving these brands an occasion to make brand mindfulness among the individuals from various geologies.
Anyway, what are the brands that have as of late put resources into esports?
Jaguar has as of late marked a multi-year sponsorship manage Gen.G Sports, a South Korean esports association.
Louis Vuitton, a French extravagance house has additionally declared its cooperation with Riot Games. LV will plan virtual things for games like League of Legends which the players will purchase with genuine cash.
BMW has likewise made a stupendous move in its advertising financial plan for esports.
Taking a gander at the information over, it’s almost certain that the brands are putting resources into esports as they are more likely than not examined the outcomes.
Virtual Reality
The virtual universe of esports is more alluring than the one in reality. It carries more inventive occasions to the individuals who need to make occupations. Furthermore, to guarantee a superior gaming experience, individuals are discovering approaches to use innovation in esports. Prior to the items can be moved with the snap of a catch, computer-generated reality has made it conceivable to encounter it truly. This is the intensity of augmented reality that has made esports players move as well as has given them new space to investigate esports.
This physical to PC communication has permitted players to stand up from their situate and appreciate the game alongside really encountering the field of the game. How energizing it is that even while sitting in your own room you can really go in the game, giving you an extreme spectating experience.
Analysts have additionally discovered that augmented simulation can bring back the genuine endurance, quality, and perseverance in the players that were seen during actual games, for example, baseball and boxing. Consequently, helps in improving their psychological and actual wellbeing too. Carrying these customary wearing exercises to the extent of augmented reality will change the manner in which individuals take a gander at esports.
With this, esports fans are searching for ways, for example, AR or VR that can furnish them with an exciting client experience. Not simply the client experience, VR can drive the promoting in esports easily consequently offering occasions to the advertisers.
Esports Gambling V/s Sports Gambling
Esports is simply not going to be bound to the rivalries, it is significantly more past that. Where individuals are investigating and exploring different avenues regarding different parts of esports, betting remaining parts consistent.
Obviously, the games wagering industry is flourishing hard to stay in the line yet taking a gander at the current situation, esports betting will before long remove the games betting world. Today, individuals can almost wager on everything from governmental issues to film stars and so forth. Esports that has just got a huge crowd and can’t get away from the betting game.
With the effect of COVID-19 on the games betting industry, analysts and specialists have seen an abrupt decrease in sports betting exercises and the end of conventional gambling clubs. In spite of the fact that there are games and occasions that actually hold bookmakers and punters, there has been an abrupt expansion in Esports betting.
Numerous game wagering programming advancement organizations have shafted to make esports wagering programming and items to stay serious on the lookout. New companies and business firms are searching for stages that are solid and comprehend the requirement for esports purchasers.
In spite of the fact that esports wagering items are far less evolved when contrasted with the conventional games wagering, bookmakers are investigating the universe of esports and contrasting it with the unpredictability with that of the esports. As indicated by Narus Advisors and Eilers and Krejcik Gaming, the most popular esports titles can be somewhat confounding to the esports speculators to comprehend. Then again, “the large three”, CS: GO, League of Legends, and Dota 2 all in all reports 85% of the esports wagering pattern. Different esports that are popular in esports betting incorporate starcraft-2, Call of Duty, and numerous others.
Wagering on esports is completely another idea for the amateurs. The change of wagering through an advanced reality where no actual fascination will happen would have its own repercussions. Yet, glancing forward in the coming years, more online esports wagering networks will be made and esports betting may take the state of sports betting outperforming it.
Expansion of the network
The development of esports will likewise bring about the extension of the organization. Expanding viewership will be one of the main elements to drive income development. It includes both infrequent watchers and customary watchers.
In 2018, there were 200 million successive watchers and 165 esports fans who dedicatedly viewed their most loved esports. As indicated by Statista, by 2023, there are 300 million continuous watchers who are required to watch esports around the world.
Newzoo has additionally given information around the esports viewership that predicts the yearly development rate will go up by 14% before the finish of 2021. Also, they anticipated that there will be 307 million periodic watchers while 250 million esports fans adding the absolute to 557 million watchers before the finish of the very year.
Along these lines, information from the greatest two information firms from the specialty has just given a thought regarding the colossal development in viewership of esports around the world. Also, there is no uncertainty that taking a gander at the current circumstance, it is, at any rate, going to take a delay.
Esports viewership is legitimately identified with the attention to it. An ever-increasing number of individuals are finding out about esports. The excursion from two or three thousand to a couple million was not harsh as esports spread broadly like fire in the woods.
The numbers proceed to develop and by 2019 roughly 1.5 billion individuals were at that point familiar with esports. Also, this was conceivable due to the live streaming stages that performed esports industry examination at the extremely beginning stage and had begun to communicate live occasions and matches of esports.
Prior there were relatively few offices to the esports networks to stream their most loved esports because of information speed and different conditions. Be that as it may, with the headway in innovation, it made it workable for them to welcome individuals from various topographies to appreciate viewing their most loved esports.
As indicated by Streamlabs, Twitch and Youtube together have over 1.13 million dynamic clients. In this way, these numbers are sufficient to state that esports has just crossed enormous numbers in making client drawing in content with loads of exercises on the streaming stages and the numbers will develop to an ever-increasing extent.
Jerk has as of late dispatched a devoted catalog for esports lovers.
These bits of knowledge will clearly help organizations and new companies to think the correct way of taking a gander at the current esports market development and pattern in the esports business. A portion of these patterns are certainly going to show and some may set aside more effort to create overall. Be that as it may, generally, every one of them will assume a part in raising esports to another level. Promoters who are as yet arranging can make the most of this chance, as there are countless brands who have just made up their psyches to support distinctive esports occasions.
In the wake of breaking down the esports markets and patterns, it is certain that esports is unquestionably not halting in the coming years. Financial specialists can receive a lot of rewards in the quickly developing scene of esports. Along these lines, this is truly going to be the time of a lot of chances for the ones who are intending to put resources into esports.
Everyone will be entertained
Esports has the ability to take close by the rising excitement of the crowd. Esports isn’t just about the experts who win a great many dollars in opposition however even to the beginners who are taking a make a plunge in this brilliant universe of esports. As is the solid energy the esports watchers who take ordinary subsequent meet-ups on matches and occasions in this manner adding to the viewership.
From beginners to experts, card sharks, watchers, esports will engage all the lives. The developing portable network of esports players has additionally crossed the records. Portable esports have likewise become principally a significant piece of esports.
An investigation shows that around 70-80 % viewership of esports is coming from men, and there is still an extension for the ladies to enter the ever-developing industry. The esports network will develop this year at a quick rate. The developing number of online esports devotees and players worldwide will surpass the previous numbers in the coming years. With in-game live talk alternatives, brand influencers, gatherings, and numerous different choices will lead gamers to join an ever-increasing number of conversations prompting a bigger gathering of network individuals.
Different online media stages and discussions, for example, Reddit are making client drawing in substance to interface players from over the world. These people group will prepare for new gaming encounters making esports more intelligent and engaging the esports players and lovers.
As per Echarts, Arena of Valor is the most popular esports game on versatile played worldwide in the year 2019 followed by PUBG Mobile. The headway in versatile innovation will prompt more number of esports lovers. Newzoo reports that Mobile esports produced 50 million live viewership hours from Sept to Nov 2019—around multiple times more than a similar period in 2018.
Posted by AGORACOM-JC
at 2:33 PM on Monday, November 30th, 2020
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