Alphinat Inc.
TSX VENTURE : NPA

Alphinat Inc.

December 18, 2015 15:02 ET

Alphinat Announces Its Results for Fiscal Year Ended August 31, 2015

MONTREAL, QUEBEC--(Marketwired - Dec. 18, 2015) - Alphinat Inc. (TSX VENTURE:NPA) announces its results for the fiscal year ended August 31, 2015.

At the beginning of the year under review, Alphinat has a sales presence in Toronto and Paris. During the third quarter of Fiscal 2015, the company proceeded to centralizing its sales structure in favour of a commercialization program centered on innovation and distribution partners. This action plan that started to deliver positive results as of the third quarter and is focused on three key objectives:

  1. Profitability: reduce expenses that are outside of headquarter operations;
  2. Quality: improve quality assurance of SmartGuide projects implemented by our clients and partners; and
  3. Innovation: finalize version 6 of SmartGuide that delivers additional productivity gains and agility to our clients for the development of their mobile web and Cloud applications.

Despite the early challenges we faced in 2015, Alphinat managed to meet important strategic objectives with the vertical packaging of three solutions built with SmartGuide. Two of these solutions, built by partners, are currently being commercialized in SaaS mode to municipalities and State level governments. Another solution, built by Alphinat, targets the financial services industry and will be the focus of a targeted SaaS commercialization campaign in 2016.

During the year under review, the Company has revised its criteria application for revenue recognition of license sales products as part of an agreement with a retailer. In light of its business practices with this retailer, it concluded that one of the criteria was not reached beyond doubt on some of the products license sales recorded during the year ended August 31, 2014. Consequently, the Company adjusted downward its licenses sales for the previous year, in the amount of $170,833 and increased the balance of its opening deficit of the same amount. This is explained by the fact that the increased scope of certain projects have lead to modified delivery terms.

For the 12-month period ended August 31, 2015, the Company recorded total revenue of $1,437,821 compared to $1,673,905 for the same period in 2014. The net loss for fiscal 2015 was $(395,592) or $(0.008) per (averaged outstanding) common share compared to a net loss of $(402,451) (restated) or $(0.008) per (averaged outstanding) common share in fiscal 2014.

Alphinat's financial statements and Management's Discussion and Analysis for the period ending August 31, 2015 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 a number of 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 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. 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