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Datametrex Reports 2017 Financial Results

TSX Venture Exchange 
Symbol "DM"

TORONTO, April 30, 2018 /CNW/ - Datametrex AI Limited (the "Company" or "Datametrex") (TSXV: DM, FSE: D4G) is pleased to announce its 2017 audited annual consolidated financial statements, notes hereto, and management's discussion and analysis in respect of the annual consolidated financial statements.

Andrew Ryu, CEO and Chairman of the Company commented: "We are very pleased with what we have achieved in 2017. We have met key milestones that include the Reverse Take-Over transaction (the "RTO"), the acquisition of Nexalogy Environics, and the investment in our joint venture company, Graph Blockchain Limited. We have also secured key assets and a strong team with our acquisition of Ronin Blockchain in early 2018. We are now in position to reap the benefits of the investments we have made, drive top and bottom-line growth and leverage the synergies that we are seeing across our different verticals."

The filings, along with additional information regarding the Company, are available on SEDAR at www.sedar.com.

Financial Highlights

The following table summarizes revenue, net loss, EBITDA and Adjusted EBITDA for the year ended December 31, 2017 and period from September 7, 2016 (date of incorporation) to December 31, 2016:


Year ended

September 7


December 31,

 to December 31,


2017

2016


$

$





 Revenue

228,019

10,409


 Net Loss

(5,319,339)

(173,212)

 EBITDA*

(5,239,222)

(173,057)

 Adjusted EBITDA*

(3,244,101)

(136,440)

 Adjusted EBITDA per share

(0.044)

(0.007)

 

"2017 was a year of aggressive growth and investment. Our top line benefited from the Nexalogy acquisition, with Pro Forma consolidated full year revenue of $1.5 million. We have also incurred $1.4 million of Reverse Take Over and Acquisition related costs which are one-time in nature and therefore non-recurring," said Jeffrey Stevens, President and COO of the Company.

Datametrex has achieved the following in fiscal 2017:

  • Completed a successful RTO to list on the TSX Venture Exchange;
  • Closed on $7.9 million in gross proceeds through two private placement financing offerings;
  • Closed on a $6.3 million acquisition of Nexalogy Environics;
  • Listed on the Frankfurt Stock Exchange;
  • Invested $0.2 million in its joint venture company, Graph Blockchain Limited.


Andrew Ryu, CEO and Chairman of the Company also commented: "We will continue to pursue opportunities that create shareholder value utilizing our Big Data, Artificial Intelligence, and Blockchain platforms. We see tremendous potential in these sectors and we are highly optimistic about our ability to position ourselves for growth as these industries gain momentum and opportunities begin to materialize."

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, 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.

SOURCE Datametrex AI Limited


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