Hello everyone,
My name is Susan Bentley - it’s great to virtually meet you all - I will be helping out Predictiv AI and Michael Lende with the company’s Investor Relations program, including answering some of your questions regarding Predictiv AI, our news releases, and interviews.
I would like to take this opportunity to address some of the comments and questions we have received regarding our latest financial results on this board. As you are all aware it was a challenging quarter, and our financials came in under expectations. We acknowledge and understand your disappointment, but we are very excited and continue to be optimistic about the future despite the challenges faced thus far.
We have received some questions specifically regarding Thermal Pass revenue and share-based payments, which we believe should be addressed:
- ThermalPass Revenue: It is important to note that ThermaPass’ revenue is recorded on an equity basis, not on a consolidated basis, as such, the revenue from the sales of ThermalPass in the amount of $140,531 has been disclosed in note 10 of the financial statements and sales which were booked in Q4 will be disclosed in subsequent months.
- Share-based payments: In 2021 we disclosed our share-based payments and signing bonuses. To adhere to accounting standards we must disclose all share-based payments in dollar amounts. We want to assure all our investors, that management is utilizing all its non-cash items and tools to attract talent and retain services to assist the company in achieving positive results.
We have developed and executed new sales initiatives which are designed to yield desired results in the coming quarters. Although we are limited to what we can share now, we can disclose that we are in talks with large name companies who are impressed by both ThermalPass and Alert Fleet’s technology and the layer of protection and the safety measures our products offer. However impressive as ThermalPass and Alert Fleet’s technologies are, as newer technologies, the process to execute sales are taking longer than hoped, but we can assure you the sales teams are working diligently to generate revenues so that we can announce favourable sales updates in the coming quarters.
Thank you again for all your questions, comments and for engaging with us. We are dedicated to the success of Predictiv AI and as mentioned we continue to be excited for what the future holds for the company.