Bullet feedback from 3 December webinarMissed the first 7 minutes - tech glitch - or so (if anyone can provide insight would be welcome) but captured the follow main points from the webinar, which ended at 1418 hrs. Unless I missed it in the first few minutes, did not get an update on the status of the RS.
All-in-all DM has
A LOT on its plate but going in the right direction. Financials are improving. Contracts are piling up, partnerships and M&A opportunities are being explored. Should expect to see improved PR in coming months.
Meeting Notes (Main points) Joined 1337 hrs…tech glitch
Marshall's introductory points:
1. AI (missed initial part)
Nato: more to follow but progressing nicely. A lot of news shortly
2. COVID
- Working in several verticals. Most active is tv and film industry.
- Large ongoing 20 M$ contract (I speculate Disney, Netflix).. Largest contract ever signed by company. This particular contract really validated DM so this opened the door to many other companies. The interest unfolds throughout Q4. Are in discussion with several other similarly large companies. Coming in rapidly.
- Other verticals. South AMerica, oversees etc are continuing more slowly. And expect to continue for at least another year.
- Beyond these, expanded sales oversees (Middle East, Africa, Europe,. Hoping to release PR shortly.
3. PR.
On NR delays issue. Trying to get info out asap within TSX regulations, before these are issued. Although these cause delays, it works in everyone’s favour at the end of the day. Because it confirms everything is legit.
4. OTC listing.
In final approval stage. Providing additional review feedback. Passed review and in final stages for OTC. So positive since will open up access to US markets/investors.
Ended 1344.
5. Main Q&A (not comprehensive or if addressed above)
- AI. On issue of shareprice and PR. 1) Growing as AI company. Continuing to build business in a) public sector - govt: Nexalogy SMART. Private sector: And and expand in Korea. Bringin model to Canada/.US, where will expand. 2) PR. Actively working on PR and should hear more in next couple of months.
- Marshall doesn't know why sp drops after NRs.
- Q. August 2020 indicated kits agreements coming but nothing heard since then. A. For the US one this is still ongoing. Caribbean. In process with PAHO (Pan American Health Organization) who are deciding how they’ll proceed as a group. NB. Always lots of this in the pipeline.
- Q. Despite record Q3 cash flow was negative. A. Operations streamlined quite a bit over past months (i.e. building ops in Vancouver and Toronto) to ramp up COVID film industry. Reasons for negative cashflow. Lost money in Q1 and Q2. Then needed to procure equipments (capital expenditure) and 3. Company paid out accounts payable. Reasons for negative cash flow. Since capital expenditure money already spend, next Quarter should be much stronger. Dec 31 ‘19 and 800,000$ receivable. only had 120,000$ cash but +1M$ 31 Sept $2M receivables.. So cash position much better.
- Q. Realtionaship between MDA and Nexalogy. A. Co-bid on next portion of IDEAS. Combined at govt request. Bid ongoing. Several meetings took place this week.
- Q. Relationship btw ScreenPro and DM. A. DM Not allowed to do certain things due to TSX (i.e concierge - lab tests, collections etc). These are covered by ScreenPro - which buys all tests through DM.
- Q. How many test conducted weekly. A. Over 5,000 weekly right now.
- Biggest sector expanding into is the private sector in Canada/US and oversees )Brazil, Lithuania etc): Airlines, Auto industries etc.
- Q. Planned expansion in Europe in other languages with Nexalogy SMART.? A. YES. More info very shortly.
- Q. Nexalogy SMART. When is it announced? A. Very shortly. In weeks, not months.
- Q. What are approx revenues to date from film contract. In the millions?. A. Can’t provide details
- Q. What will be focus after C-19 test kits? A. AI (i.e. Samsung) even with covid. Looking to expand. Looking at M&A to move into other sectors of AI space.
- Q. Listing on US exchange? If so when? A. Moving process along for OTCQB and working on BTC eligibility.
- Q. Business relationship with airlines (i.e. AC)? A. Eveyone saw tweet (AC). Everyone trying to move on (i.e. to go to Hawaii etc). DM cleared as a partner to provide that type of testing.
- Q. What HC approval process so long? A. Unknown. DM not only ones facing same challenges. They continue asking questions (HC).
- DM involved in airline industry to provide rapid tests. More to follow.
- Q. Approached to partner with other companies to collaborate on AI? A, Yes. Possible announcements coming in next few months. Always exploring that in Canada, US and Europe. As these mature, they will be announced.
- Q. Expectations for BOD? A. Guidance. Mentorship. To be available and actively contribute and help senior management with ops and direction of company.
- Q, Plan to expand to other cities for testing in Canada, US, South America, Europe? A. Currently working all across Canada (BC - Quebec). Looking at expanding to US also but will be announced in PR when anything of impiortance.
- Q. Nexaolgy AI expanding to medical? A. Yes, actively looking into that. Still too early to explain but yes, things are looking into right now.
- Q. 7-11 deal update? A. Interesting deal because its doing RPA. DM provided layer to rapidly prototype (try ideas) to explore ideas (yeah, nay very rapidly). More to be announced as headways take place.
- Q. M&A plans? A. Looked at a few i.e, esports, complimenting DM systems with structured data systems, point of sale, structured verticals (i.e. auto, airline industry data).
- Q. PR strategy 2021? A. Being put in place right now. Engaging in foreign and local markets. Want people to take story and run with it.
- Q. With vaccines incoming, still a need for testing? A. Don’t know of any medical community or military expecting testing to stop within upcoming year given it will be so long to immunize everyone.
Ended 14:18