SPARC AI INC - EGTTF STOCK NEWS

EYEfi Group Technologies (CSE:EGTI) (OTCPink:EGTTF) announced a significant order exceeding $100,000 from Telstra Corporation for its EYEfi Cloud Automated Incident Management system, utilized by the Victorian Government’s Department of Transport. The system processes over 3,000 road incidents monthly, with VicRoads reporting a 28% increase in incident management vehicles. EYEfi is exploring partnerships for global expansion, alongside its ongoing collaborations with distributors such as Anixter and Fujitsu. Currently, shares are trading at $0.34.

EYEfi Group Technologies (CSE:EGTI)(OTC PINK:EGTTF) announced a new order exceeding $100k for its EYEfi Cloud Automated Incident Management product from Telstra Corporation, servicing the Victorian Government's Department of Transport. The order follows a 28% growth in the fleet of Incident Management Vehicles, processing over 3000 road incidents monthly. EYEfi's solution enhances real-time incident visibility and automates workflow processes. Further sales updates are anticipated with multiple contracts nearing finalization.

EYEfi Group Technologies (CSE:EGTI)(OTC PINK:EGTTF) has received a significant order from Melbourne Water Corporation for an Axis Q8742-E camera combined with EYEfi's SPARC technology. This order, valued at $52,000, enables real-time fire location detection over 60km without the need for triangulation or GPS. EYEfi anticipates further orders this quarter, including from the Victorian Government. Additionally, the company is finalizing contracts with other government departments for technological upgrades and new capabilities in EYEfi Cloud.

EYEfi Group Technologies has secured AUD $250,000 in funding to boost sales for its upcoming EYEfi Cloud Connect product. The funds will be used specifically for targeted sales activities. A 12-month Convertible Note Agreement with 10% interest was signed, with a conversion price of CAD$0.38 and penalties for late repayment. The company also issued 592,105 Warrants at an exercise price of CAD $0.40, expiring in two years. This moves EYEfi closer to converting 40,000 issued licenses into recurring revenue.

EYEfi Group Technologies Inc. has signed a major distribution agreement with Anixter for its EYEfi Cloud Connect product in the Asia Pacific region, including Australia. This partnership enhances EYEfi's sales reach and support, positioning the company for revenue growth with the product's formal launch on December 1, 2022. EYEfi Cloud Connect, a cloud-based video service, aims to provide customers with effective monitoring solutions, yielding subscription-based revenue for EYEfi. CEO Simon Langdon expressed optimism about the collaboration and its potential for both organizations.

EYEfi Group Technologies has retained Hybrid Financial Ltd. for a 12-month period starting November 8, 2022, to enhance its market and brand awareness within the investment community. Hybrid will comply with all applicable securities laws and Canadian Securities Exchange policies during its engagement. EYEfi specializes in spatial technology and IIoT sensor hardware, providing solutions that connect devices and manage deployments via a secure cloud platform. This partnership aims to broaden EYEfi's reach and visibility among investors.

EYEfi Group Technologies has issued its first batch of 40,000 EYEfi Cloud Connect licenses to various distributors, with end-customer pricing set between $11 to $13 per camera per month. This marks a significant milestone in their sales strategy, supported by partners like Axis Communications and distributors such as Dicker Data. The activation process is streamlined through a QR code included with each camera. CEO Simon Langdon expressed confidence in scaling revenue quickly due to this efficient sales model.

EYEfi Group Technologies (CSE:EGTI)(OTC PINK:EGTTF) announced the official launch of EYEfi Cloud Connect (ECC) on November 21, 2022, following a successful pre-launch in August at ASIAL. The company reported strong interest from large customers and distributors, indicating significant demand. EYEfi's partnership with Axis Communications has facilitated the onboarding of major distributors, enhancing market access. EYEfi Cloud Connect offers a subscription model, allowing customers to connect and monitor Axis cameras remotely, improving security.

EYEfi Group Technologies (OTCPink: EGTTF) reported a significant 41% year-over-year revenue growth from its partnership with Telstra Corporation, Australia's largest wireless carrier. The company continues to enhance its services, particularly with the Victorian Government Department of Transport and VicRoads, leading to an expanded fleet of incident management vehicles. Additionally, EYEfi achieved a 52% revenue increase year-to-date with Melbourne Water Corporation, utilizing its EYEfi SPARC technology for bushfire monitoring. Shares are currently trading at $0.40.