Alphinat Inc.
TSX VENTURE : NPA

Alphinat Inc.

January 24, 2017 20:15 ET

Alphinat Announces a Profit of $259,243 for the Quarter Ended November 30, 2016

MONTREAL, QUEBEC--(Marketwired - Jan. 24, 2017) - Alphinat Inc. (TSX VENTURE:NPA) announces a profit of $259,243 for the quarter ended November 30, 2016.

The quarter under review has seen an acceleration in sales with OEM partners, both for OEM licenses as well as Enterprise licenses of SmartGuide. The Enterprise license of SmartGuide allows clients to deliver e-services that connect into multiple back-end systems, therefore insuring a more streamlined user experience.

The company continues to be involved with delivery of projects with various agencies of Canadian federal government. These projects have led to further discussions with current and prospective clients and partners.

For the 3-month period ended November 30, 2016, the Company recorded total revenue of $603,985 compared to $380,850 for the same period in 2016. The earnings for the period ended November 30, 2016 amounted to $259,243 or $0.005 per outstanding common share compared to earnings of 30,983 or $0.001 per outstanding common share for the 3-month period ended November 30, 2015.

Also, Alphinat Inc. announces the issuance, on January 23, 2017 of stock options representing a total of 1,758,544 common shares to Directors and employees of the Company. The exercise price on the options, which expire on November 30, 2021, is $0.12.

Alphinat's financial statements and Management's Discussion and Analysis for the period ending November 30, 2016 can be found on SEDAR, at www.sedar.com.

About Alphinat

Alphinat is the creator of SmartGuide®, a next generation application development and deployment productivity toolset providing agility to leverage existing IT assets and lower costs for a one-stop delivery tool of Web and mobile enterprise applications from any back-end system.

Alphinat has been appointed by technology company peers to associate member at the Smart Cities Council (www.smartcitiescouncil.com).

Alphinat technology is also used in the healthcare, banking, insurance, telecommunications and other sectors, in modernising, automating and rendering cost-effective various business processes at a fraction of the cost associated with conventional customized solutions. For more details about Alphinat or its software suite, please visit www.alphinat.com.

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regards 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. These include, but are not limited to, the Company's capacity to increase acceptance of its products on the market, and to penetrate new markets; the potential existence of defects or undetected problems in the Company's products; the Company's ability to manage its growth; the Company's ability to compete with others; potential commitments; maintaining the Company's intellectual property rights and defending against litigation putting those rights in question; the Company's reliance on the knowledge of its key personnel; and the Company's access to sufficient capital to finance its future needs. This is a partial and non-exhaustive list of factors that could bear on any of our 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. 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.

Neither 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.

Contact Information

  • Mr. Philippe Lecoq
    Chief Executive Officer
    Alphinat Inc.
    (514) 398-9799 ext 222