Welcome!

News Feed Item

Alphinat Announces its Results for the Quarter Ended February 28, 2014

MONTREAL, QUEBEC -- (Marketwired) -- 04/17/14 -- Alphinat Inc. ("Alphinat") (TSX VENTURE: NPA), a leader in innovative Software for the Smart Enterprise™, announces its results for the quarter ended February 28, 2014.

During the quarter under review, Alphinat has focused its efforts on nurturing and expanding its distribution channels and on diversifying its geographic and industry sector presence.

Alphinat has continued to make strong headway into partnerships for enterprise license sales, OEM agreements as well as for launching SaaS services. We have seen significant uptake in sales with partners, with a growing number of installed clients in various geographies and industry sectors. Furthermore, during the period under review, Alphinat has been involved in the implementation of SmartGuide with clients in various vertical markets.

During the quarter under review, Alphinat has seen OEM sales by partner CSDC continue to progress with the addition of clients in the USA and in Canada. During the same period, a large municipality in France ordered additional SmartGuide licenses. SaaS sales by partner Vicrea have also continued to increase at a steady pace.

During the period under review, Alphinat received an order for delivery of a SaaS-based solution from a private sector enterprise.

The Workplace Safety and Insurance Board of Ontario (WSIB) and a client in Saskatchewan have confirmed the renewal of their respective annual software maintenance contracts.

In January 2014, the Company finalized a contract renewal with an agency of the government of France that allows France's SGMAP organization (Secretariat General de Modernisation de l'Appareil Public), the leading agency of the government of France for State Modernisation, to continue to leverage SmartGuide and SmartGuide PaaS Edition to deliver citizen-centric e-government services. The contract has been renewed for three years with an option for a fourth year. This new contract puts Alphinat in a direct relationship with the SGMAP and allows the client to acquire additional software licenses, annual maintenance and associated professional services.

Profit before financing expenses and amortization amount to $14,160 for the quarter ended February 28, 2014. The loss for the 3-month period ended February 28, 2014 is $27,782 or $0.001 per outstanding common share compared to a profit of $144,945 or $0.003 per outstanding common share for the corresponding period in 2013.

Alphinat's financial statements and Management's Discussion and Analysis for the quarter ending February 28, 2014 can be found on SEDAR, at www.sedar.com.

Additionally, Alphinat announces the issuance of 198,989 Bonus Shares as set forth in the Management Proxy Circular dated January 29, 2014. On August 7, 2013, as announced in its press releases, the Corporation closed the first tranche of a private placement consisting of Class A Units, each comprising a Class A Debenture accompanied by one Bonus Common Share per dollar of Class A Debenture subscribed and Class B Units, each comprising a Class B Debenture accompanied by one Bonus Common Share per dollar of Class B Debenture subscribed.

The Class A Debentures bear interest at 10% annually with interest payable quarterly and mature on September 30, 2017. They are redeemable by the Corporation on or after September 30, 2015. They were offered at their face value. The Class A and Class B Debenture holders have the right to convert the debentures at the principal amount plus any unpaid accrued interest into the next equity issue of the Corporation. In the event that the issue was offered at a discount to market the Class B Debenture holders are not be entitled to any discount. Conversion of debentures will be conditional to prior TSX Venture Exchange's approval and the conversion price will be based on market price at the time of conversion.

The Class B Units, including a Class B Debenture substantially identical to the Class A Debenture, were offered exclusively to Alphinat secured lenders (the "Secured Lenders") who advanced $500,000 (the "Secured Indebtedness") to the Corporation in October 2011. The Units were offered in the context of a Debt Settlement whereby in consideration of the cancellation of the Secured Indebtedness which bore interest at a substantially higher rate than the Class B Debenture, and the removal of the security for the Secured Indebtedness, the Corporation issued Class B Debentures having a value of 120% of the Secured Indebtedness being settled. The premium was offered in view of the importance of foregoing described benefits to the Corporation. In addition, the Secured Lenders were entitled to receive one Bonus Common Share per dollar of Class B Debenture subscribed, of which 154,761 Bonus Common Shares have been issued at closing and the remaining 198,989 Bonus Common Shares, will be issued only upon approval by the shareholders at a special meeting of the shareholders. In addition, the Secured Lenders were entitled to receive one Bonus Common Share per dollar of Class B Debenture subscribed, of which 154,761 Bonus Common Shares have been issued at closing and the remaining 198,989 Bonus Common Shares were to be issued only upon approval by the shareholders at a special meeting of the shareholders. The annual and special meeting of shareholders was held on February 26, 2014.

About Alphinat

Software for the Smart Enterprise™ providing agility to leverage existing IT assets and lower costs.

Alphinat develops, markets and supports software technology that enables non-technical managers to configure and deploy form based Web and mobile applications and utilities that helps organizations and governments better serve clients whether they are looking to deploy on premise or in the Cloud. This technology uses sophisticated data organization and processing software to automate interactions between systems, employees, clients, suppliers and partners. The software seamlessly integrates into complex environments permitting a high level of collaboration in delivering user-centric services while leveraging existing IT assets. It provides efficient and cost-effective solutions to clients at both the time of acquisition and on an ongoing basis.

Alphinat technology could also be 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 and CCFL Capital's ability to find subscribers in connection with the proposed private placement. This is only one of the 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. 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.

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.

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

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
If you haven’t heard yet, CollabNet just put out some very big news for managing and gaining value from DevOps. We introduced CollabNet DevOps Lifecycle Manager (DLM) — a platform designed exclusively for providing a single pane of glass, dashboard, and traceability views across your DevOps toolchain and processes from planning to operations and that can be traced back to planning and development.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
"MathFreeOn.com is a line coding platform for engineers and scientists. When they want to solve an engineering problem and they have to use software - they have to pay a lot of money for licenses - but with MathFreeOn you don't have to pay a lot of money. Just go to our site and write the code and you can check the result right away," explained Simon Lee, CMO of MathFreeOn, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Cla...
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...