Boardwalktech Signs New Fortune 500 Multinational Consumer Products Company

Rhea-AI Summary

Boardwalktech Software Corp (OTCQB: BWLKF) has secured a significant contract with a multinational consumer products company, valued at USD $150,000. This contract involves the implementation of their specialized Digital Ledger Platform to manage regulatory labeling, packaging, and compliance for global products. The deployment aims to simplify compliance across various markets, enhancing efficiency and time-to-market. Boardwalktech anticipates expanded applications within the Client’s operations, potentially increasing recurring revenue in the coming year.

Positive

• Secured a contract worth USD $150,000 with a Fortune 500 multinational consumer products company.
• Potential for expanded applications in the client's operations, leading to increased recurring revenue.

Negative

• None.

Boardwalk Digital Ledger selected to manage regulatory labelling, packaging, and compliance

CUPERTINO, Calif., Feb. 16, 2020 /PRNewswire/ - (TSXV: BWLK) (OTCQB: BWLKF) Boardwalktech Software Corp ("" or the "Company"), the leading Digital Ledger platform and enterprise software applications company, is pleased to announce it has signed a new major U.S.-based, multinational consumer products customer (the "Client") and executed a license to implement its proprietary Boardwalk Digital Ledger Platform. This initial contract is for USD $150,000 and currently includes the deployment of one application. Boardwalktech anticipates expansion of applications across other areas of the Client's business over the next year which will drive additional recurring revenue.   

Boardwalktech's platform is being used by the Client to manage local regulatory labelling, packaging and production compliance for products sold globally. Packaging, labelling, and compliance standards vary throughout different markets even when delivering the same product. For every consumer products company, ensuring that delivered products meet specific standards is of critical importance to confirm and track that they are in compliance with regulatory laws within the jurisdiction. Furthermore, branding and messaging must be consistent from a marketing perspective when delivering products in different regions.

"There is a lot of complexity in today's consumer products markets managing packaging, labeling and local compliance across thousands of products manufactured and distributed globally even in the best of times, let alone in the midst of a global pandemic," said Andrew T. Duncan, CEO of Boardwalktech. "Boardwalktech's proprietary Digital Ledger Platform, is uniquely suited to rapidly deliver integrated, collaborative solutions for managing a variety of compliance requirements across a wide variety of external parties, internal processes and applications. The Boardwalktech Platform allows for seamless collaboration between hundreds of vendors, partners and stakeholders around the world allowing for faster information flow, improved time to market, and increased sales – critical for companies to remain competitive in the consumer products market."

About Boardwalktech Software Corp.

Boardwalktech has developed a patented Digital Ledger Technology Platform used by Fortune 500 companies running hundreds of live mission-critical applications worldwide. Boardwalktech's patented digital ledger technology and its unique method of managing vast amounts of structured and unstructured data is the only platform on the market today where multiple parties can effectively work on the same data simultaneously. Boardwalktech can deliver a collaborative purpose-built enterprise information management application on any device or user interface with full integration with enterprise systems of record in a fraction of the time it takes other non-digital ledger technology-based applications.

Boardwalktech is headquartered in Cupertino, California with offices in India and operations in North America. To learn more about Boardwalktech and its capabilities, please visit www.boardwalktech.com.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, information concerning the Offering (including the completion of any additional tranches of the Offering) and the use of the proceeds raised under the Offering.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.

An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risk Factors" in the Company's filing statement dated May 30, 2018. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

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.

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SOURCE BoardwalkTech

FAQ

What is the recent contract secured by Boardwalktech (BWLKF)?

Boardwalktech has signed a contract worth USD $150,000 with a multinational consumer products company to implement its Digital Ledger Platform.

How will Boardwalktech's platform benefit its new client?

The platform will help manage regulatory labeling, packaging, and compliance, improving efficiency and aligning with regional standards.

What are the future prospects for Boardwalktech following this contract?

Boardwalktech anticipates expanding applications in its client's operations, which may increase recurring revenue over the next year.