Alphinat Announces 87% Increase in Q3 Year-Over-Year Earnings of $197,285 for the Quarter Ended May 31, 2022


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MONTREAL, QC / ACCESSWIRE / July 27, 2022 / Alphinat Inc. (TSXV:NPA) announces a profit of $197,285 for the quarter ended May 31, 2022

During the quarter under review, Alphinat concentrated its efforts on maintaining and expanding its distribution channels and on diversifying its offer. In order to accelerate its future growth, Alphinat has considerably broadened its horizons by now counting five main areas of solution delivery:

  1. smart guide® Grants and Contributions Solution (www.SmartGrants.ca) was developed in collaboration with a federal department of the Canadian government. This platform provides unparalleled productivity for federal, state, and municipal clients in creating grant appeals, including financial program creations for applications, decisions, and payments;
  2. smart guide® Portal Edition for Dynamics 365[1] (www.smartD365.com) has optimized how customers can now build and deploy online services on top of Microsoft Dynamics 365 CRM solutions. This offer is available in SaaS mode as well as on site;
  3. SmartGuide® GreenHouse Gas Registry solutions (www.SmartGHGR.ca) is a green financial technology solution for governments and industry to work together to reduce the harmful effects of greenhouse gases. Alphinat currently has three provincial clients for our SmartGHGR.ca solution;
  4. smart guide® Claims solutions (www.SmartClaims.ca) was developed in conjunction with a leading IT consulting partner, which aims to deliver unparalleled productivity to federal, state and municipal clients for financial claims applications, financial compensation adjudications and settlements, and class action settlements ;
  5. smart guide® CIVIC Portal, CIVIC Portal for Permits and Licenses (www.PermitSmart.ca) and Smart Guide® Municipal Cloud are municipal and on-premises cloud solutions, front-end partner solutions and other digital services for an enhanced user experience for cities and their citizens.

During the quarter under review, the Company sold additional SmartGuide Version X SaaS licenses for a major SmartGuide® GreenHouse Gas Registry project to a province through a partner. Alphinat was also commissioned to upgrade another province to our SmartGuide Version X for one of their main permit portals.

For the 3-month period ended May 31, 2022, the Company recorded total revenues of $548,750 compared to $495,796 for the same period in 2021, mainly due to an increase in sales of software solutions related to a provincial greenhouse gas registry solution.

For the quarter ended May 31, 2022, net income was $197,285 or $0.003 per share. Net income for the period ended May 31, 2021 was $105,251 or $0.0017 per outstanding common share.

Alphinat’s financial statements and management’s report for the quarter ended May 31, 2022 are available on SEDAR at www.sedar.com.

About Alphinat

At Alphinat, we are driven by a passion to make app development easy for everyone. It has always struck us as odd that people with a vision of how a finished application will look and behave are only involved at the beginning of the process. After all, what better way to ensure a favorable 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’re bringing you new ways to empower the right people at the right time in the app development process. At the same time, we constantly strive to reduce the need for coding in order to simplify application development and maintenance and reduce the risk of errors.

So whether you choose to develop your applications using our low-code SmartGuide® platform, launch your project using one of our pre-built applications, or contact us or contact l partner to do the work for you, we’re here to help you deploy better applications in record time. Visit https://www.alphinat.com for more information. We look forward to hearing from you.

Forward-looking statements

Certain statements contained herein, including those that express management’s expectations or estimates regarding the future performance of the Company, constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based on a number of estimates and assumptions; although management believes them to be accurate at the time they are made, they are inherently subject to significant business, economic and competitive risks and uncertainties. We advise readers that these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements. expressed or implied. in these forward-looking statements. A number of factors could cause actual results to differ materially from those described in the forward-looking statements. These include, but are not limited to, the Company’s ability to increase market acceptance of its products and enter new markets; the potential existence of undetected defects or problems in the Company’s products; the Company’s ability to manage its growth; the Company’s ability to compete with others; potential commitments; maintain the Company’s intellectual property rights and defend against litigation involving these rights; the Company’s dependence on the knowledge of its key personnel; and the Company’s access to sufficient capital to fund its future needs. This is a partial and non-exhaustive list of factors that could affect any of our forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements. This notice applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any person expressing them on behalf of the Company. The Company undertakes no obligation to publicly update these forward-looking statements, whether to reflect new information, future events or other circumstances. The risks and uncertainties facing the Company are described in more detail in the Company’s annual report.

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.

For more information, please contact:

Mr. CurtisPage
President and CEO Alphinat Inc.
(514) 398-9799 ext. 225

[1] Dynamics 365 is a trademark of Microsoft Corporation

THE SOURCE: Alphinat, Inc.

See the source version on accesswire.com:
https://www.accesswire.com/710064/Alphinat-Announces-an-Increase-of-87-in-Its-3rd-Quarter-Year-Over-Year-Profit-of-197285-for-the-Quarter- Completed May 31, 2022

Melissa C. Keyes