1st quarter resultsBeing the eternal optomist we have two positive takeaways. $70K better revenue from last year's 1st quarter and 'only' a $57K loss this quarter than last year's 1st quarter of $149K. AND doesn't seem like COVID is making a big impact on it's overall business.......GLTA
Alphinat Announces a Loss of $57,549 for the Quarter Ended February 29, 2020
|
Source: Alphinat Inc. multilang-release
MONTREAL, April 28, 2020 (GLOBE NEWSWIRE) -- Alphinat Inc. (TSXV: NPA) announces a loss of $57,549 for the quarter ended February 29, 2020.
During the quarter under review, Alphinat has focused its efforts on nurturing and expanding its distribution channels and on diversifying its offering.
In order to accelerate future growth, Alphinat has continued to invest in packaging SmartGuide along three and added a fourth major areas of focus:
- SmartGuide® Portal Edition for Dynamics 3651, which will be available in early 2018, will optimize the way that clients create and deploy online services on top of Microsoft Dynamics 365. This offering will be available in SaaS mode as well as on premises;
- SmartGuide Municipal Cloud aims at offering unparalleled productivity to municipalities. Municipalities will be able to choose from a catalogue of pre-built applications, further accelerating the speed at which they can deploy citizen-centric services. These services include service requests, permitting and licensing as well as numerous other citizen-facing services and internal applications.
- SmartGuide® CIVIC Portal for Amanda™2 is a derivative of the Municipal solution front ending a partner solution for an improved user experience for both the client cities and their citizens in the permits and reporting applications.
- Rapidly develop and deploy of critically needed triage and data capture solutions to help reduce the spread of COVID-19 by reducing in person contact and assist to reduce the occurrence and time of in person visit to points of testing and care. We are working with partners in order to ensure these services are available and highly accessible in multiple languages and leveraging voice recognition to maximize services to all stakeholders.
During the quarter under review, the Company sold new SmartGuide license to a department of the Government of Canada and to a major state of Texas city. It also added to it backlog of professional services for a Canadian provincial client and as well for an agency and a department of the Government of Canada.
The company has pursued its commercialization efforts with various department and agencies of the Canadian government, state/provincial governments and municipalities in North America. Furthermore, the company continues to be involved in supporting its partner deliver solutions to government clients.
Alphinat intends to pursue its partnership strategy with consulting firms and systems integrators for resale and delivery of SmartGuide, with independent software vendors for OEM agreements and with other partners for the launch of SaaS services. Management believes that these agreements will help reduce the sales cycle of the company’s products while giving it additional exposure to potential clients.
For the 3-month period ended February 29, 2020, the Company recorded total revenue of $290,993 compared to $220,840 for the same period in 2019. For the quarter ended February 29, 2020, a loss before financial expenses and depreciation amount to ($29,570) The net loss for the period ended February 29, 2020 amounted to $(57,549) or $(0.0009) per outstanding common share compared to a loss of $(149,077) or $(0.0025) per outstanding common share for the 3-month period ended February 28, 2019.
Alphinat's financial statements and Management's Discussion and Analysis for the quarter ended February 29, 2020 can be found on SEDAR, at www.sedar.com.
The company has now more than 10 federal departments and agencies that have or are benefiting from the speed and agility of digital service delivery leveraging SmartGuide® Enterprise licenses. “This continues to be our benchmark milestone for ourselves and our partners.” says Denis Michaud, Alphinat Chief Solutions and Security Officer.
About Alphinat