The 40 Million contract will be the IDEaS Program !1. DM announced on July 20, 2020, that it has successfully completed the third milestone of a multi-phase Department of National Defence Innovation for Defence Excellence and Security (IDEaS) research and development program in Canada. The Company will receive approximately $208,800.00 CAD for Component 1b Milestone 3 to further develop Nexalogy SMART, Social Media Automated Reporting Technologies, while enhancing its Fake News and Narrative Detection technologies.
2. DM announced on Dec. 09, 2020 that it has completed the IDEaS program Component 1b Milestone 4, as well as the launch of Nexalogy's Social Media Automated Reporting Technologies ("SMART"). The Company will receive approximately $218,000.00 CAD for the Component 1b Milestone 4. Combined, the total for all Milestones in Component 1b is approximately $945,000.00 CAD.
3. DM announced on Aug. 04, 2021, that it has passed the second round of scrutiny in a Canadian AI bid. The value of the contract is approximately $40 million.