BOARDWALKTECH SOFTWARE CP - BWLKF STOCK NEWS

Boardwalktech Software Corp (TSXV: BWLK, OTCQB: BWLKF) will present at the LD Micro Main Event on October 13, 2021, at 12:30 PM PST, in Los Angeles. CEO Andrew T. Duncan will lead the session, aiming to boost awareness of the company's digital ledger innovations and ongoing collaborations with Fortune 500 clients. The multi-day event, running from October 12-14, will feature around 150 companies presenting virtually. A recording of the presentation can be accessed here.

Boardwalktech Software Corp (BWLKF) announced a second application delivery for an existing North American Fortune 500 client, projected to generate over US$150,000 in initial annual revenue, primarily from recurring licenses. This application will enhance product formula tracking and management, crucial for global distribution. It aims to improve supply chain efficiency and reduce formulation errors. This follows an initial application launched in February 2021, enhancing regulatory compliance in packaging and labeling. This expansion demonstrates Boardwalktech's growing partnership within the client’s business units.

Boardwalktech Software Corp. (BWLKF) announced an expanded agreement with Sekisui Specialty Chemicals America (SSCA) to enhance its Sales & Operations Execution (S&OE) application. This follows a previous contract signed in April 2020. The upgraded application aims to improve demand-supply balance, offering automated processes that enhance visibility and customer satisfaction. SSCA's Director of Strategic Planning highlighted the necessity for operational transparency in today’s market. The expansion is expected to positively affect SSCA's supply chain processes, enhancing overall business results.

Boardwalktech Software Corp. reported its financial results for the fiscal year ending March 31, 2021, showing a 58% reduction in net loss to $(2.4) million. Revenue from SaaS licenses grew 10% year-over-year, despite total revenue declining to $4.3 million due to legacy contracts. The company ended the year with $3.1 million in cash and completed a 100% debt paydown. Adjusted EBITDA improved by 35% to $(1.7) million. The sales pipeline has increased to over $9 million.

Boardwalktech Software Corp (BWLKF) has expanded its relationship with a Fortune 10 technology company by introducing a new capacity planning and supply chain application on its Digital Ledger Platform. This marks the first recurring revenue application for the client, with prospects for further applications across various departments. The new system is expected to enhance global data management and improve decision-making processes. CEO Andrew T. Duncan noted that this aligns with the company’s strategy to grow its tier-1 customer base and ensures immediate ROI for clients.

Boardwalktech Software Corp announced a significant contract with a major California-based social media company to implement new data management and supply chain applications using its Digital Ledger Platform and Radius Control Tower Insight technology. The initial revenue is projected at USD $200,000, with expectations for growth into recurring revenue as more applications are integrated. This partnership aims to enhance data visibility and decision-making processes across the client's value chain, emphasizing Boardwalktech's unique capability to manage unstructured data effectively.

Boardwalktech Software Corp (TSXV: BWLK, OTCQB: BWLKF) announced the full forgiveness of its US$700,100 Payroll Protection Program (PPP) loan from the U.S. Small Business Administration. This forgiveness, confirmed by the SBA, allows the company to exclude the forgiven amount from taxable income. The funds were exclusively used for payroll during the permitted 24-week period following loan origination. The loan, initiated under the CARES Act to support small businesses during the pandemic, was unsecured with a nominal interest rate of 1%.

Boardwalktech Software Corp. reported its financial results for Q3-FY21, with revenues of $1.1 million, flat from the previous quarter but down from $1.2 million year-over-year. SaaS license revenue rose 7%, countered by a 51% drop in legacy contract revenues. Annualized Recurring Revenue remained stable at $3.5 million. Despite challenges, the sales pipeline grew to over $8 million. Gross margin improved to 86.6%, while the adjusted EBITDA loss narrowed by 37% to $(0.4) million. The company anticipates exceeding $5 million in ARR by Spring 2021.

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.