Alphinat Announces a Reduction in Net Loss to $(19,430) for Fiscal 2nd Quarter Ended February 28, 2023

MONTREAL QC / ACCESSWIRE / April 27, 2023 / Alphinat Inc. (TSXV:NPA) announces revenues of $368,684 for fiscal quarter ended February 28, 2023, an increase of 18.7% as compared to $310,521 for 2^nd quarter fiscal 2022 with a decrease in net loss to $(19,430) for the fiscal quarter ended February 28, 2023 compared to a net loss of $(85,157) in the same period of fiscal 2022.

During the quarter ended February 28, 2023, Alphinat concentrated most of its commercial efforts on its partnerships and accelerating sales and delivery of digital service to the public sector. Furthermore, SmartGuide software continues being used by federal government departments & agencies, state / provincial and municipal governments to accelerating solution deliveries, enhance productivity gains and user experiences.

In order to accelerate future growth, Alphinat has considerably broadened its horizons by now counting five main areas of solution deliveries:

1. SmartGuide® Grants and Contributions solution (www.SmartGrants.ca) was developed in conjunction with a federal department of the Canadian Government. This platform offers unparalleled productivity for federal, state and municipal clients creating calls for grants including financial program creations for applications, adjudication and payments;
2. SmartGuide® Portal Edition for Dynamics 365¹ (www.smartD365.com) has optimize the way that clients can now create and deploy online services on top of Microsoft Dynamics 365 CRM solutions. This offering is available in SaaS mode as well as onpremises;
3. SmartGuide® Green House Gas Registry solutions (www.SmartGHGR.ca) is a green fintech solution allowing governments and industry to work together in reducing the harmful effects of greenhouse gas. Alphinat currently has three provincial clients for our SmartGHGR.ca solution;
4. SmartGuide® Claims solutions (www.SmartClaims.ca) was developed in conjunction with a major IT consulting partner, which aims at offering unparalleled productivity to federal, state and municipal clients for financial claims applications, adjudication and settlements for financial compensation and class action settlements;
5. SmartGuide® CIVIC Portal, CIVIC Portal for Permits & Licensing (www.PermitSmart.ca) and SmartGuide® Municipal Cloud are Municipal Cloud and on-premises solutions front ending partner solutions and other digital services for improved user experience for both the cities and their citizens.

The company delivers solutions to various federal, state / provincial agencies and municipalities across North America. In addition, the company continues to be involved in supporting its partners to ensure the delivery of solutions to government customers.

For the 3-month period ended February 28, 2023, the Company recorded total revenue of $368,684 compared to $310,521 for the same period in 2022. The net losses for the quarter ended February 28, 2023 amount to $(19,430) or $(0.0003) per common share compared to net loss of $(85,157) or $(0.002) per common share for the same period ended February 28, 2022.

Alphinat’s financial statements and Management’s Discussion and Analysis for the period ending February 28, 2023 can be found on SEDAR, at www.sedar.com.

¹ Dynamics 365 is a trademark of Microsoft Corporation

About Alphinat

At Alphinat, we are driven by the passion to make application development easy for everyone and system interoperability issues a thing of the past. We enable people with the vision of how a finished application should look and behave to be a major part of the development process. After all, what better way to ensure a favorable outcome than to provide those closest to an application’s endusers 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 us at https://www.alphinat.com for more information. We look forward to hearing from you.

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.

For further information please contact:

Mr. Curtis Page Chief Executive Officer
Alphinat Inc.
(514) 398-9799 ext. 225

SOURCE: Alphinat, Inc.