TORONTO, ONTARIO – May 29th, 2018 – Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) is pleased to announce its 2018 first quarter. The Company has generated revenue of approximately $1.24M in the first quarter of 2018, an increase of 3,015% compared to the same period last year.
“We are very pleased with our 2018 first quarter results. I am proud to see all of our hard work pay off in the form of significant increase in Year over Year revenue. The team has done a tremendous job positioning the Company for growth and we remain focused on continuing the positive 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.
The following table summarizes revenue, income from operations, EBITDA* and Adjusted EBITDA* for the three months ended March 31, 2018 and three months ended March 31, 2017:
Datametrex has achieved the following in the first quarter of 2018:
- Recognized revenue in the amount of $1.24 million;
- Increased its stake in Graph Blockchain, with a net investment of $0.7 million on the balance sheet as at March 31, 2018;
- Completed the acquisition of Ronin Blockchain Corp. and related mining rights, positioning the Company as a potential leader in the cryptocurrency mining space. The Ronin acquisition purchase price is being amortized over a period of 5 years
Andrew Ryu, CEO and Chairman of the Company also commented: “We will continue to aggressively expand our market share and presence in all of our key verticals. We are working tirelessly on several exciting opportunities in the big data, artificial intelligence, blockchain and cryptocurrency mining sectors to create value for our shareholders.”
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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For further information, please contact:
Jeffrey Stevens – President & COO
Phone: (647) 400-8494
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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.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements regarding the timing and completion of any blockchain related activities as the subsidiary is newly incorporated and has no current operations. 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. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the lack of material changes to general economic, market and business conditions. Except as required by law, the Corporation 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.