FOBI AI INC - FOBIF STOCK NEWS

Fobi AI Inc. (FOBI:TSXV, FOBIF:OTCQB) has partnered with Amazon Business to distribute its hardware and software solutions globally. This agreement allows Fobi to reach over 5 million businesses across nine countries, tapping into Amazon's extensive logistics and fulfillment capabilities. Fobi will launch its Fobi 3.0 IoT devices on Amazon Business soon, enhancing real-time data connectivity for clients. CEO Rob Anson highlighted the potential for increased revenue and growth in 2022 as a significant milestone for the company.

Fobi AI Inc. (FOBIF) announced its Q1 financial results, showing a significant revenue increase to $580,317 from $147,533 in Q4. Despite this growth, the net loss escalated to $4,468,214, mainly due to a non-cash stock-based compensation expense of $2,619,361. Cash reserves grew to $8.266 million, aided by the exercise of warrants and stock options, while accounts receivable rose to $1.2 million. CEO Rob Anson highlighted operational milestones and a strong growth trajectory as key achievements.

Fobi AI Inc. (FOBIF:OTCQB) has announced a virtual-only shareholder update webinar scheduled for December 2, 2021, from 9-10am PST. The event will be led by CEO Rob Anson and CFO Mark Lotz, focusing on the company’s latest financial performance, operational milestones, and future outlook. Pre-submitted and live questions will be addressed during the session, providing shareholders with important insights. Fobi specializes in data intelligence, helping clients convert real-time data into actionable insights, enhancing customer engagement across various industries.

Fobi AI (FOBIF) has secured a partnership with Caddle, Canada's largest mobile-first insights marketplace, enhancing its access to major clients like Walmart, Loblaws, and Sobeys. This agreement facilitates co-marketing efforts, leveraging first-party data to improve customer engagement and loyalty programs. As brands shift from third-party to first-party data strategies, the collaboration aims to reduce customer acquisition costs and optimize marketing efforts for CPGs. This partnership aligns with industry trends emphasizing the significance of reliable data.

Fobi AI Inc. (FOBIF) has achieved SOC 2 Type 1 certification, enabling it to better serve enterprise, government, and fintech sectors. This certification, validated by a CPA firm, underlines Fobi's commitment to data security and operational integrity. The significant investment in resources reflects its strategy to secure contracts with large entities, including federal and provincial governments, banks, and credit unions. With this achievement, Fobi aims to leverage opportunities in fintech and enhance its competitive advantage in 2022.

Fobi AI Inc. (FOBI:TSXV, FOBIF:OTCQB) has entered into an agreement to provide its Wallet pass based Venue Management solution for Sammy Hagar’s sold-out shows at The STRAT Hotel in Las Vegas. This deal will generate revenue through an initial setup fee and ongoing Wallet pass license fees. CEO Rob Anson highlighted this as a significant milestone, emphasizing Las Vegas as a prime opportunity for Fobi's technology.

Fobi AI Inc. (FOBIF) has partnered with the University of Nevada, Las Vegas (UNLV) to provide its CheckVax™ digital proof of vaccination system. This initiative aims to enhance the attendee experience by expediting entry to the Thomas Mack Center during basketball games while ensuring safety for fans, student-athletes, and staff. The deal includes an initial setup fee and ongoing license fees. The first men's basketball game of the season is set for November 10, enhancing fan engagement and generating revenue.

Fobi AI Inc. (FOBI:TSXV, FOBIF:OTCQB) has successfully acquired the PassWallet application and related assets from Quicket GmbH for €888,000. The transaction involved €355,200 in cash and 301,480 common shares. Since the last report, PassWallet downloads surged from 6 million to 7.28 million, with notable growth in European countries. This uptick aligns with the growing demand for mobile wallets, expected to expand at a CAGR of 20% from 2021-2026. CEO Rob Anson emphasizes optimism for continued growth amidst the shift towards contactless transactions.

Fobi AI Inc. (FOBIF) has partnered with the University of Nevada Athletics to implement its CheckVax™ proof of vaccination system, enhancing safety and streamlining entry for fans at basketball games. This collaboration will generate revenue through an initial setup fee and monthly licensing. The Lawlor Events Center, which holds 11,500 fans, requires a robust solution for vaccination verification. Notably, CheckVax™ is easy to use, secure, and facilitates multi-jurisdiction verification, positioning it as a superior option compared to competitors.