- Fobi AI (FOBI) provides a corporate update on its pilot programs, as well as its LOI with All Net LLC and its partnership with Empower Clinics
- The company has completed two pilot programs with TELUS Corporation
- Fobi will provide All Net LLC with a custom technology stack that will power the AllNet Resort and Arena Project in Las Vegas
- Fobi has been working with BDG Sports on revenue-generating project opportunities following discovery and pilot implementation programs for Covid-19 testing
- Fobi has finalized commercial terms and entered into a service and reseller agreement with Empire Clinics
- Fobi AI is a data intelligence company that turns real-time data into actionable insights and personalized customer engagement
- Fobi AI Stock (FOBI) opened trading at C$0.47
Fobi AI (FOBI) provided updates on its pilot programs, as well as its LOI with All Net LLC and its partnership with Empower Clinics.
The company is engaged in pilot programs with various clients on an ongoing basis. These pilot programs are generally undertaken for no consideration in order to show the value of Fobi’s products to clients. While not all of these pilot programs are revenue-generating at this time, some may amount to material agreements from a revenue standpoint, and others may provide non-quantifiable business opportunities. Such opportunities include the collection of valuable information to allow Fobi to identify solutions and product opportunities. Insights gained from pilot programs also assist Fobi in developing marketing strategies and testing new products.
The company has completed two pilot programs with TELUS Corporation, allowing Fobi to showcase its suite of products. Upon completion of these pilot programs, the company was approved by TELUS to upgrade from the Telus Marketplace to a full procurement partner. The procurement agreement provides TELUS with wholesale pricing for Fobi’s products and for TELUS to resell Fobi’s products. Since signing the procurement partnership, TELUS has begun selling Fobi’s products to TELUS customers, which has resulted in TELUS securing revenue-generating commercial contracts. TELUS continues to work on several new opportunities in both government and private sectors opportunities for Fobi’s products and services.
Fobi previously announced an LOI with respect to a project with All Net LLC, under which the company will provide a custom technology stack that will power the AllNet Resort and Arena Project to be constructed in Las Vegas.
The company previously announced initial discovery and pilot implementation programs with BDG Sports for Covid-19 testing. As a result of the successful completion of these pilot programs, the company has been working with BDG Sports on revenue-generating project opportunities. Fobi has generated revenue through such programs in the form of event license fees and active wallet pass fees.
Fobi continues to work on a pilot program with Senor Frogs in Las Vegas. The company has worked closely with this key group in order to add additional features and functionality to applicable Fobi products. Through the course of the pilot program, the company has identified potential revenue opportunities such as monthly SaaS fees and supplier-funded marketing and engagement programs.
Fobi has finalized commercial terms and entered into a service and reseller agreement with Empire Clinics. As a result of the company’s partnership with Empower, Fobi has earned non-material revenues, including, but not limited to, custom development, setup, and wallet pass fees. Folbi continues to work with Empower to identify further sales opportunities.
Fobi conducted a pilot program with Maplin, which has since expired. The company benefited from the Maplin pilot program by leveraging its findings to secure commercial revenue-generating agreements with digital payment, POS and e-commerce companies Square, Lightspeed and Shopify.
Fobi AI is a data intelligence company that turns real-time data into actionable insights and personalized customer engagement.
Fobi AI Inc. (FOBI) opened trading at C$0.47.