- Datametrex AI (TSXV:DM), a beaten down microcap stock, is announcing new changes to its business to boost revenue, improve cash flow and streamline operations
- These include an emphasis on its outperforming healthcare and Korean technology divisions, and a move away from AnalyticsGPT
- Datametrex develops innovations in technology, healthcare and artificial intelligence
- Datametrex stock (TSXV:DM) is down by 87.50 per cent year-over-year
Datametrex AI (TSXV:DM), a beaten down microcap stock, is announcing new changes to its business to boost revenue, improve cash flow and streamline operations under new CEO Charles Park’s focus on opportunities in healthcare and AI & technology.
Healthcare expansion
Based on solid revenue, with emphasis on its Alberta clinics, Datametrex has decided to hold off on spinning out its healthcare division.
The company is planning on opening new clinics in 2024 “to leverage the division’s success and resilience in the current economic climate,” according to a news release.
It is also progressing with the addition of wellness centers within existing clinics, embracing a more comprehensive healthcare experience to add value for patients and practitioners alike.
Bolstering the Korea Technology Division
The news release notes that Datametrex’s Korean AI & technology division “continues to strengthen its market presence and boost its profitability, notably achieving preferred vendor status with major multinational conglomerates, such as the likes of Lotte, as well as acquiring new clients in untapped sectors, such as the energy and financial industries.”
Management will explore new opportunities to actualize the division’s “strong international growth potential” backed by its achievements across diversified industries.
Strategic shifts toward shareholder value
Datametrex’s more narrow focus on performing divisions represents its transformation from a growth story to a company focused on balance sheet appeal and ultimately shareholder value creation.
To expedite this transformation, the company is also moving away from cybersecurity subsidiary Nexalogy’s “erratic government contracts, which have historically shown poor performance and negatively impacted the company’s financials with a substantial negative cash flow.” It has also paused work on AnalyticsGPT, its predictive analytics tool, but is looking into avenues to repurpose the patented technology within the e-gaming industry.
“Our strategic refocus on healthcare and AI & technology, in line with our deep and narrow strategy, is a decisive step towards creating a more streamlined and financially robust operation,” Charles Park, Datametrex’s CEO, said in a statement. “By targeting sectors where we have strong potential and minimizing financial burn, we are setting the stage for sustainable growth and long-term profitability. Leveraging my extensive experience in the e-gaming space, we are also exploring various opportunities in this sector, which we believe will open new avenues for growth and innovation. We are dedicated to this path, confident that it will lead to enhanced value for our stakeholders.”
The news follows the company’s divestment from its electric vehicle division and the replacement of former CEO, Marshall Gunter.
Datametrex develops innovations in technology, healthcare and artificial intelligence that enhance operational efficiencies and business outcomes.
Datametrex stock (TSXV:DM) last traded at C$0.015 per share. The stock is down by 87.50 per cent year-over-year.
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