Datametrex Provides Business Update
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Toronto, Ontario--(Newsfile Corp. - February 1, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce a significant reorientation based on its deep and narrow strategy, to focus on the Healthcare and AI & Technology sectors, coupled with a robust financial restructuring aimed at streamlining operations and improving cash flow.
Expanding Healthcare Division
The Company has achieved notable success in its Healthcare division, particularly with its clinics in Alberta, contributing to the Company's decision to re-evaluate the spin-out of this division. The Calgary and Edmonton clinics have set a standard in efficient, physician-led Healthcare delivery and have consistently generated solid revenue. With new locations set to open in 2024, this growth is part of a deliberate strategy to leverage the division's success and resilience in the current economic climate.
The ongoing development of wellness centers within the existing clinics marks a strategic enhancement, with anticipated synergistic effects alongside the medical wing and pharmacy. This integration of services under one roof not only underscores the Company's commitment to comprehensive Healthcare but also provides added convenience and value, appealing to patients, Healthcare professionals, and the general public alike.
Enhancing the Korea Technology Division
In Korea, the AI & Technology division continues to strengthen its market presence and boost its profitability, notably achieving preferred vendor status with major multinational conglomerates, such as the likes of Lotte, as well as acquiring new clients in untapped sectors, such as the Energy and Financial industries.
These achievements highlight the Company's capability to deliver quality services and adapt to diverse market needs. The Company's Korean operations reflect its strong international growth potential and its ability to establish and maintain significant business relationships in competitive markets.
Strategic Shifts and Financial Management
As part of its comprehensive financial restructuring, the Company is implementing several key strategic shifts. This includes a strategic move away from Nexalogy's erratic government contracts, which have historically shown poor performance and negatively impacted the Company's financials with a substantial negative cash flow. While the Company has also paused development work on AnalyticsGPT, it still preserves Nexalogy's patented core technology, and is actively seeking opportunities to repurpose the technology within the private sector, most notably the e-gaming industry.
These decisions are driven by a commitment to focus on sectors with higher growth potential and stability. Simultaneously, the Company plans to replicate its successful strategies, as demonstrated in the Korean market, replacing the vacated space from Nexalogy's government work with more promising, stable, and profitable ventures.
Future Outlook
CEO Charles Park reflects on these changes: "Our strategic refocus on Healthcare and AI & Technology, in line with our 'deep and narrow' strategy, is a decisive step towards creating a more streamlined and financially robust operation. By targeting sectors where we have strong potential and minimizing financial burn, we are setting the stage for sustainable growth and long-term profitability. Leveraging my extensive experience in the e-gaming space, we are also exploring various opportunities in this sector, which we believe will open new avenues for growth and innovation. We are dedicated to this path, confident that it will lead to enhanced value for our stakeholders."
About Datametrex
Datametrex is an innovative leader in Technology Solutions, Artificial Intelligence and Healthcare. The Company excels in delivering tools and solutions that enhance operational efficiencies and business outcomes. With a commitment to innovation, Datametrex is dedicated to supporting enterprises by setting a new standard for business protocols through cutting-edge technology. For more on Datametrex, please visit our YouTube channel and Company website.
For More Information
Charles Park, CFA
Chief Executive Officer & Director
cpark@datametrex.com
(416) 901-5611 x203
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.
Forward-Looking Statements
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements, including but not limited to the proposed spin-out transaction. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196424
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