AI / ML INNOVATIONS INC - AIMLF STOCK NEWS

AI/ML Innovations announced a non-brokered private placement offering up to 16,500,000 units at $0.05 per unit to raise up to $850,000. Each unit includes one common share and one warrant. Warrants are exercisable into common shares at $0.10 per share within three years, with a potential acceleration clause. The funds are intended for working capital. The placement is subject to Canadian Securities Exchange approval and includes a finder's fee. AI/ML Innovations focuses on AI and ML in digital health, holding significant stakes in Health Gauge, Tech2Heal, and AI Rx Inc.

AI/ML Innovations (CSE:AIML, OTCQB:AIMLF, FWB:42FB) has launched TheNeuralCloud.com through its subsidiary NeuralCloud Solutions. This Neural Net as a Service (NNaaS) platform offers healthcare providers, device developers, and researchers access to advanced neural networks for analyzing cloud-based biometric data. The platform's first service is a proprietary ECG Neural Net, capable of detailed beat-to-beat labeling for ECGs up to 48 hours, covering around 170,000 heartbeats. This enhancement aims to provide critical insights into cardiovascular health and other conditions, potentially improving healthcare outcomes. CEO Paul Duffy expressed excitement over this subscription-based service, which offers unparalleled access to neural network technologies.

AI/ML Innovations Inc. (AIML) has finalized the acquisition of cutting-edge technology from Naiad Lab, a deal completed on June 3, 2024. The acquisition includes Naiad's proprietary Long ECG Neural Net (L-ECG NN) for detailed cardiovascular insights and the Neural Network Store (NNStore), a subscription-based AI analysis platform.

Key aspects of the acquisition include AIML issuing 6.7 million common shares valued at $335,000 to Naiad and creating a new subsidiary to manage the assets. Additionally, AIML will pay a royalty to Naiad based on revenue generated from the L-ECG NN technology and has granted 700,000 stock options to Naiad's management. The deal involves contingent shares that convert to common shares if certain milestones are met, including FDA approval and revenue targets.

This strategic acquisition aims to enhance AIML's portfolio and position it at the forefront of AI-driven healthcare innovations.

AI/ML Innovations has launched The Neural Net Store, an online commercial portal offering flexible, affordable access to its AI-driven healthcare solutions. The NNStore features products like the Follow Your Heart suite for Blood Pressure measurement and a Long ECG Neural Network analytical tool. Users can access these tools via downloadable APIs for integration into third-party applications or through a cloud-based Neural Net Service (NNaaS). This service is designed to eliminate barriers in adopting AI solutions in healthcare, offering options for both infrequent and frequent users, including developers and healthcare organizations. The introduction of the NNStore aims to facilitate easier implementation of AI technologies, thereby driving innovation in healthcare.

AI/ML Innovations has announced an agreement with Moonshot, appointing Paul Duffy as CEO. The contractual agreement includes a $125,000 signing bonus in shares, another $125,000 in shares on the second anniversary, and annual retention fees of $250,000 and $300,000 over two years, payable quarterly in shares. Additionally, Moonshot receives options to purchase up to 1.5 million shares at $0.20 each, vesting in three installments contingent on specific milestones. The issuance of shares and options requires Canadian Securities Exchange approval.

AI/ML Innovations has announced the formation of a new subsidiary, NeuralCloud Solutions. This subsidiary aims to capitalize on the convergence of the global smart sensor market and the digital health industry by monetizing recently acquired assets from Naiad Labs. The smart sensors market, valued at USD 52.4 billion in 2023, is expected to reach USD 160.3 billion by 2030. The global digital health market, valued at USD 217 billion in 2022, is projected to reach USD 1,592 billion by 2032. NeuralCloud will focus on delivering personalized health intelligence through advanced sensor technologies and AI. Esmat Naikyar has been appointed as President and Chief Product Officer of NeuralCloud.

AI/ML Innovations Inc. introduces its proprietary Long ECG Neural Net technology, reducing labeling of long ECGs from days to minutes. The technology offers high accuracy, depth, and insight into cardiac data, catering to cardiologists, researchers, and pharmaceuticals. With over 100 million ECGs performed annually in the USA, this innovation aims to revolutionize ECG analysis, potentially detecting and predicting cardiovascular diseases. The company plans for FDA approval, online access, and accelerating diagnoses and predictions.

AI/ML Innovations Inc. has entered into a binding Letter of Intent to acquire strategic healthcare assets from Naiad Labs Inc., including a Long ECG Neural Net that reduces reading time to under 5 minutes. The acquisition involves issuing 6,700,000 Common Shares valued at $469,000 to Naiad, creating a new operating subsidiary, paying a streaming royalty, and granting stock options to Naiad management. The deal is non-arm's length due to AIML's Interim CPO's association with Naiad Labs. The closing is subject to due diligence and regulatory approvals, aiming for completion by May 30, 2024.