TSX Venture Exchange
Symbol "DM"
TORONTO, Aug. 30, 2018 /CNW/ - Datametrex AI Limited (the
"Company" or "Datametrex") (TSXV: DM, FSE:
D4G) is pleased to announce its 2018 second quarter financial
results. The Company has generated revenue of approximately
$1.8M in the second quarter of 2018,
an increase of 2,887% compared to the same period last year and 46%
compared to the prior quarter.
"We are thrilled with our 2018 second quarter results, achieving
record revenues. We were also able to operate at close to break
even on an EBITDA basis. We look forward to the continued growth
opportunities ahead as we capitalize on this momentum," says
Andrew Ryu, CEO and Chairman of the
Company.
The filings, along with additional information regarding the
Company, are available on SEDAR at www.sedar.com.
Financial Highlights
The following table reconciles income from operations to EBITDA
and Adjusted EBITDA for the three and six months ended June 30, 2018 and June 30,
2017:
|
Three months ended
June 30,
|
|
Six months ended
June 30,
|
|
2018
$
|
|
2017
$
|
|
2018
$
|
|
2017
$
|
Revenue
|
1,809,829
|
|
60,597
|
|
3,053,208
|
|
100,517
|
Net
loss
|
(1,042,458)
|
|
(1,114,016)
|
|
(2,929,607)
|
|
(1,459,756)
|
EBITDA*
|
(206,724)
|
|
(1,112,926)
|
|
(1,359,112)
|
|
(1,458,199)
|
Adjusted
EBITDA*
|
(131,469)
|
|
(329,848)
|
|
(142,592)
|
|
(675,121)
|
Adjusted
EBITDA per share*
|
(0.001)
|
|
(0.006)
|
|
(0.001)
|
|
(0.013)
|
Datametrex has achieved the following:
- Recognized revenue in the amount of $3.1
million for the six-month period, of which $1.8 million was earned in the second quarter,
compared with $0.1 million earned
during the first six months of last year;
- Achieved a net loss per share of $0.005 for the quarter, compared with
$0.021 during the same period last
year;
- Net cash flow used in operating activities was $0.3 million for the quarter, compared with
$1.3 million during the same period
last year;
- Increased its stake in Graph Blockchain Limited, an associate
company of Datametrex, to 29.97% as of June
30, 2018.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with
exposure to four exciting verticals. Big Data, collecting data from
retail point of sales environments. Artificial Intelligence and
Machine Learning through its wholly owned subsidiary, Nexalogy
(www.nexalogy.com). Implementing Blockchain technology for secure
Data Transfers through its joint venture company, Graph Blockchain
(www.graphblockchain.com). Industrial scale Cryptocurrency Mining
through its wholly owned subsidiary, Ronin Blockchain Corp
(www.roninblockchain.com).
Additional information on Datametrex is available at:
www.datametrex.com
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Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
EBITDA and Adjusted EBITDA*
Management believes that EBITDA and Adjusted EBITDA are
effective measures for analyzing the performance of the Company.
The term "EBITDA" refers to earnings before deducting interest,
taxes, depreciation and amortization. The Company calculates
Adjusted EBITDA as earnings before deducting interest and
accretion, taxes, depreciation and amortization, listing expense,
other reverse take-over fees, acquisition related costs, and share
based compensation. "EBITDA" and "Adjusted EBITDA" are both
non-GAAP measures. The Company believes that Adjusted EBITDA is
useful additional information to management, the Board and
investors as it provides an indication of the operational results
generated by its business activities prior to taking into
consideration how those activities are financed and taxed and also
prior to taking into consideration asset depreciation and
amortization and it excludes items that could affect the
comparability of our operational results and could potentially
alter the trends analysis in business performance. Excluding these
items does not necessarily imply they are non-recurring, infrequent
or unusual. Adjusted EBITDA is also used by some investors and
analysts for the purpose of valuing a company. Investors are
cautioned that Adjusted EBITDA should not be construed as an
alternative to operating earnings or net earnings determined in
accordance with IFRS as an indicator of the Company's financial
performance or as a measure of the Company's liquidity and cash
flows. Adjusted EBITDA does not take into account the impact of
working capital changes, capital expenditures, debt principal
reductions and other sources and uses of cash, which are disclosed
in the consolidated statements of cash flows.
Forward-Looking Statements
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities laws. Forward-looking
information is not a guarantee of future performance or results,
since it involves risks and uncertainties. There is no assurance
that forward-looking statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in forward-looking statements. Except as required by
law, the Company does not assume and expressly renounces any
obligation to update any forward-looking information, which is only
applicable on the date on which it is given.
SOURCE Datametrex AI Limited