MONTREAL (Quebec), April 29, 2015
Alphinat Inc. (TSXV: NPA) announces its results for the quarter ended February 28, 2015.
The quarter review was characterized by increased efforts and investments in business development in the private sector, notably with an approach demonstrating significant productivity gains using SmartGuide for organizations aiming at migrating internal applications from legacy environments to modern platforms capable of delivering Web and Mobile applications from a single development base.
Alphinat’s focused efforts on the private sector since the beginning of the current fiscal year is showing great potential. Subsequent to the date of the quarter under review, Alphinat has been asked to submit proposals for companies in Canada and in the USA for major modernisation projects.
During the quarter under review, Alphinat signed a partnership agreement for the resale and delivery of SmartGuide with a company in Western Canada. This partner serves clients in the public sector (provincial and municipal), in healthcare and in the private sector.
Partner initiated discussions during the quarter under review subsequently lead to Alphinat signing an agreement for the resale and delivery of SmartGuide with a company that works mainly with the Federal government of Canada as well as with Canadian financial institutions.
Commercial activities initiated during the quarter under review subsequently lead to the sale by a partner of a SmartGuide license to a ministry of the Government of Canada, our second client at the Canadian Federal government. OEM partner CSDC Systems also ordered SmartGuide licenses for three additional clients. Furthermore, Alphinat recently received an order for a new project with a major airport operator.
For the 3-month period ended February 28, 2015, the Company recorded total revenue of $198,818 compared to $513,870 for the same period in 2014. For the 3-month period ended February 28, operating expenses amounted to $425,394 in 2015 compared to $499,710 in 2014. The loss for the period ended February 28, 2015 amounted to $(270,330) or $(0.005) per outstanding common share compared to a loss of $(27,782) or $(0.001) per outstanding common share for the 3-month period ended February 28, 2014.
Alphinat’s financial statements and Management’s Discussion and Analysis for the quarter ending February 28, 2015 can be found on SEDAR, at www.sedar.com.
At Alphinat, we are driven by the passion to make application development easy for everyone. It always struck us as odd that the people with the vision of how a finished application should look and behave would only be involved at the start of the process. After all, what better way to ensure a favourable outcome than to provide those closest to an application’s end-users with a vested interest in its success throughout its development?
That’s why we bring you new ways to empower the right people at the right time in the application development process. At the same time, we’re constantly working to reduce the need to code in order to make application development and maintenance simpler and less error-prone.
So whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps or engage us or one of our partners to do the work for you, we’re here to help you deploy better applications in record time. Visit http://www.alphinat.com for more information. We look forward to hearing from you.
Certain statements in this document, including those which express management’s expectations or estimations with regard to the Company’s future performance, constitute “forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company’s Annual Report.