EdgeTI also Reports Issuance of Warrants and Marketing Services Contract
Arlington, VA, USA, May 30, 2023 (GLOBE NEWSWIRE) — Edge Total Intelligence Inc. (“edgeTI”, “Company”, “We”, or “Our”) (TSXV: CTRL, OTCQB: UNFYF, FSE: Q5i), the leader in real-time digital operations software, today announced its financial results for the three months ended March 31, 2023 and reported progress in its growing adoption of AI, Automation, and Digital Twin solutions.
“First quarter was a return to growth as edgeTI saw its customers embrace longer-term contracts, new prospects open new markets, partners grow new business, and industry analysts cover our company,” said Jim Barrett, CEO of edgeTI. “Our platform has an important role to play in customer adoption of AI and automation solutions — more importantly, organizations are realizing they need to accelerate and deliver real value from their AI and automation investments while connecting their people via situational awareness at the speed of relevance”
First Quarter 2023 Highlights
New Buying Signals Regarding Data Play to EdgeTI Strengths
Within AI, Automation, and Digital Twin solutions, which industry and market analysts anticipate growing at an impressive 40% CAGR through 2030, the Company reports increased demand signals around Data Mesh (coined by Zhamek Dehghani) and Data Fabric (an earlier approach to reach and interact with data at its authoritative source) as more organizations are resonating with the approaches’ more efficient use of data across wider audiences.
“Our edgeCore™ platform and previous versions of our software have always been devoted to reaching source data and expanding use according to security and privacy policies. edgeCore aligns with Data Mesh’s additional principles of treating data as a product, enabling self-service, and promoting shared governance,” said Jim Barrett, CEO. “We also see a similar trend with Application Mesh, where different workflows and interactions come together to enhance the user experience, speed-up tasks, and make information more useful. Our approach of integrating data and applications is crucial in today’s digital twins and hyperautomation eras. Our discussions with multiple organizations confirm that a combined view of data and applications is what organizations need to simplify the complexities of operations.”
The Company also reports that its Board approved the issuance of the 75,000 warrants at C$0.05 a share on 25 May 2023 as part of the related party transaction to convert the Credit Facility with Lotus Domaine (detailed in the Financials and MD&A) as originally specified in the term sheet for the debt to shares transaction and subsequent to 4E reporting and filing with the Exchange.
The Company also discloses that Edge Total Intelligence Inc. has engaged Creative Direct Marketing Group Inc. for marketing services. CDMG will, as appropriate, create campaigns, magalogs, e-mail series, search and social ads, and native and display ads for physical and digital mediums, set up and manage remarketing campaigns, and bring attention to the business of the company in consideration of $500,988 (U.S.). The promotional activity will occur by print and digital media during the third quarter of 2023.
edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore™ that unites multiple software applicates and data sources into one immersive experience. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform’s low-code development capability and composable operations. With edgeCore, customers improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross-domain operations — helping them achieve the impossible.
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Forward-Looking Information and Statements
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