News Sep 24, 2021HBO is on the air with serious called THE LAST OF US using thermol technology.
Fever Detection/Thermal Scanning Market Traditionally thermal scanning technology was used in the medical, industrial or military industries, however due to the global threat posed by COVID-19, this technology has found new use as one of the front-line solution to detect fevers.
The developed mobile infrared thermal imaging screening systems can instantly screen for high fevers that may be caused by influenza and pneumonia in crowded areas. Its main features include non-contact quick body temperature screening, large area detection, long distance, smart alarm, high temperature measurement accuracy, fast response, infrared and visible image overlay measurement analysis. According to: • Yole Dveloppement, the Covid-19 virus has triggered a boom in the market for thermal technologies. Based on industry indicators, thermal imagers will be a USD$7.6 billion market, up 76% from 2019. Previous forecasts predicted a $4.5 billion market, 8% year-over-year. Yole said it expects that more than 1.5 million fever detection cameras will be deployed over the next four years. • Reportlinker, the Global Thermal Scanners Market size is expected to reach USD$6.7 billion by 2025, rising at a market growth of 10.3% CAGR (2020 – 2025)
Summary Description of Predictiv AI Inc. Predictiv AI Inc. (the “Company" or "PAI Inc.") is a software and solutions provider in the artificial intelligence and industrial IoT markets. It is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. The Company has two operational business units including Weather Telematics Inc. (“Weather Telematics” or “WTX”), and SMRT Labs Inc. (the “JV”). Weather Telematics is a data science company offering real-time advanced artificial intelligence based predictive road condition weather analytics for safer, connected and autonomous transportation. The JV, in partnership with Commersive Solutions Corp. (“Commersive”), a developer of integrated, point-of-sale technologies that create unique retail experiences, is focused on bringing its first product ThermalPassTM to the market. The JV is a jointly held company owned 51% by AI Labs Inc., a wholly owned subsidiary of PAI Inc. and 49% by Commersive. The head office, principal address and registered and records office of the Company are located at 151 Bloor Street West, Suite 609, Toronto, Ontario, Canada, M5S 1S4. PAI Inc. continues to execute on its strategy of being a strategic operator of emerging technology companies with innovative big data and industrial AI solutions. Since inception, the Company has incurred losses amounting to $22,133,381. During the period, PAI Inc. reported a net comprehensive loss of $125,393 (2020 – $400,835). As at July 31, 2021, the Company had working capital of $2,222 (2020 –deficit of $370,076). The ability of the Company to continue as a going concern is dependent upon generating profitable operations from its acquisitions and operations or obtaining equity and/or debt financings. All of these outcomes are uncertain and cast significant doubt over the ability of the Company to continue as a going concern. Corporate Highlights • On July 14, 2021, the Company announced its Board of Directors has appointed Jim Grimes, Chairman of Predictiv AI, as interim President and Chief Executive Office following Michael Lende’s resignation effective July 30, 2021. Business Highlights • On May 4, 2021, the Company’s JV SMRT Inc.’s product ThermalPass was assembled to its channel reseller partner MCL Sustainable Cleaning Solution’s bundle offering to help companies maintain a healthy office environment at an easy-to-acquire and affordable entry price. Weather Telematics Inc. On June 1, 2018, the Company completed the acquisition of Weather Telematics Inc (“WTX Inc.”), a data science company offering real-time advanced artificial intelligence based predictive road condition weather analytics for safer, connected and autonomous transportation. PAI Inc. acquired 100% of the issued and outstanding shares of WTX Inc. on the following terms: (i) $230,000 in cash paid at closing (ii) $300,000 in cash payable on the 6-month anniversary post-closing Predictiv AI Inc. (formerly Internet of Things Inc.) (TSX-V: PAI; OTC: INOTD; FSE:7IT) Management Discussion & Analysis 4 (iii) 631,313 of the Company’s treasury shares, with 50% or 1,893,939 shares to be released over three years in three equal tranches of 631,313 shares on the 12th month, 24th month and 36th month anniversaries post-closing. The 50% balance or 1,893,939 shares to be released on WTX Inc. achieving $8.2 million minimum net sales target over 36 months with pro-rata releases every six months. The total consideration was estimated as $1,225,075, of which $628,286 was allocated as intangibles and $821,492 was goodwill. In addition, the Company paid a finder’s fee in the amount of $48,000 in cash and in shares priced at $0.529 representing 145,379 common shares. Since PAI Inc. completed the acquisition of WTX Inc., it has been granted a patent from the European Patent Office for the mobile collection, analysis and processing meteorological data, originally filed in 2015. The patent of WTX Inc.’s existing hardware and software solutions enables the collection of granular data, in addition to providing the ability to license and protect its technology. WTX Inc. uses an AI (artificial intelligence) system, a proprietary mobile sensor network and a data fusion platform to generate its information. WTX Inc. has developed a unique set of meteorological data (based on hundreds of millions of miles of road weather data) that enables the company to make real-time hyperlocal road condition predictions. On February 28, 2019, the Company made a payment of $44,239 to the vendors of WTX Inc. In March 2019, the Company made payment of $6,900 to the vendor of WTX Inc. In June 2019, 12 months from the closing date, the Company made final payment of $98,802 to WTX vendors excluding $10,000 contingent funds and issued 3,472,222 shares to WTX’s vendors. In August 2019, the Company paid out $10,000 contingent funds withheld previously. If the transaction had taken place on February 1, 2018, it is estimated that the assets acquired had contributed incremental revenues and net loss before taxes of $333,536 and $(336,089) respectively, for the year ended January 31, 2019. In June 2021, 36 months from the closing date May 31, 2018, the Company issued 631,314 shares to WTX’s vendors. The Company also issued 150,693 common shares as performance shares to WTX’s vendors based on 36 months net sales of WTX Inc. of the Sales Target. WTX Inc. has been actively introducing new solutions into the marketplace, entering into multiple proof-of-concepts, and securing an agreement with a global automotive Tier 1 supplier. In March 2021, WTX Inc. formalized a strategic product integration partnership with Propel IT Inc. ("Propel"). The new partnership will significantly enhance available real-time data to which drivers and dispatchers can access. WTX's hyperlocal, advanced road weather hazard alert system warns drivers of impending dangerous conditions such as black ice, poor visibility and hydroplaning.