INEO Tech Corp's Latest Corporate Update Webinar is Now Live

Rhea-AI Summary

INEO Tech Corp. (TSX-V: INEO, OTCQB: INEOF) announced a significant increase in its sales pipeline, now exceeding $40 million in annual recurring revenue. This growth is attributed to active pilot programs with large retail chains across various sectors, including groceries and pharmacies. INEO expects to report record revenue growth of nearly 90% in Q4-2022 compared to Q4-2021. The company has successfully engaged over 30 major brands using its digital advertising solutions, enhancing advertising fill rates significantly. A corporate update webinar recording from July 27, 2022, is now available on their website.

Positive

• Sales pipeline exceeds $40 million in annual recurring revenue.
• Expected revenue growth of nearly 90% in Q4-2022 compared to Q4-2021.
• Active pilot programs with large retail chains across diverse industries.
• Over 30 major and numerous smaller brands utilizing INEO Media Network.

Negative

• None.

• INEO's sales activities are accelerating with the Company's sales pipeline climbing to over $40 million in annual recurring revenue.

SURREY, BC, Aug. 11, 2022 /PRNewswire/ -  INEO Tech Corp. (TSX-V: INEO) (OTCQB: INEOF) (the "Company" or "INEO"), the innovative developer and operator of the INEO Media Network, a digital advertising and analytics solution for retailers, is notifying investors that the recording of the INEO Corporate Update Webinar from July 27, 2022 has been posted to the Company website at www.ineosolutionsinc.com.

INEO previously announced the Company is expecting to deliver another quarter of record revenue in Q4-2022, with growth approaching 90% over Q4-2021.  In addition, the size of the INEO sales pipeline has grown to over $40 million in annual recurring revenue, based on the potential full contract value with retail chains who have currently installed, or committed pilot installations. 

In the webinar video, INEO's CEO Kyle Hall states, "INEO will typically receive anywhere from $500 to $1,000 per month per store. The range in revenue depends on the number of INEO Welcoming Systems, INEO Welcoming Duo's, INEO Media Players or INEO GATE systems installed at the store. Our (sales) pipeline represents over 7,000 locations through direct and Prosegur partner channels..…we have only included chains in our pipeline where we have either a contract, a pilot or a committed pilot.  The gross pipeline is much, much bigger than $40 million annual revenue if we included retail chains that are interested but have not yet committed to a pilot."

Also in the webinar video, Mr. Hall and Chairman and President Greg Watkin discuss how INEO's business is accelerating with active pilots and commitments with large retail chains representing a broad spectrum of industries including grocery, apparel, wholesale club, hardware, department store and pharmacy chains. Additionally, INEO's advertising fill rates have increased tremendously on the INEO Media Network. INEO has had over 30 major brands or advertisers, and many more smaller ones, who have utilized the power of the INEO Media Network.

Webinar Video Details:

To view the video of the INEO Corporate Update Webinar, please visit the INEO website at:

https://www.ineosolutionsinc.com/news-and-events/ineo-corporate-update-webinar-july-27-2022 

INEO Tech Corp.

Per:      "Kyle Hall"
Kyle Hall, Chief Executive Officer and Director

About INEO Tech Corp.        

INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., operates the INEO Media Network, a digital advertising and analytics solution for retailers.  INEO's patented technology integrates and monetizes digital screens with theft detection sensor gates at the entrance of retail stores.  The Company's cloud-based platform uses IoT (Internet of Things) and AI (Artificial Intelligence) technology to deliver customized digital advertising to each retail location based on the demographic mix, such as age and gender, of customer traffic at each location.  The Company also deploys the INEO Welcoming Network technology through a SaaS-based solution to larger retail chains.  INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol "INEO" and on the OTCQB-Venture Market under the symbol "INEOF".

For more information please visit:

Website:          www.ineosolutionsinc.com 
LinkedIn:         www.linkedin.com/company/ineosolutions 
Facebook:       www.facebook.com/ineosolutionsinc 
Instagram:       www.instagram.com/ineosolutionsinc 
Twitter:            www.twitter.com/INEOsolutions 

Future-Oriented Financial Information

To the extent any forward-looking statements in this press release may constitute future-oriented financial information or financial outlooks within the meaning of securities laws, such information is being provided to demonstrate the potential financial performance of INEO and readers are cautioned that this information may not be appropriate for and should not be used for any other purpose and that they should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out below under "Forward-Looking Statements".

Forward-Looking Statements

Investors are cautioned that, except as disclosed in the disclosure document, any information released or received with respect to the Company may not be accurate or complete and should not be relied upon.  Trading in securities of the Company should be considered highly speculative.

This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. This news release uses words such as "may", "would", "could", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", and other similar expressions to identify forward-looking information. Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements and accordingly, should not be read as guarantees of future performance or results.  There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information.  Other factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed on SEDAR, including the Company's most recent annual and interim Management Discussion and Analysis and Financial Statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except to the extent required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE INEO Tech Corp.

FAQ

What is the current sales pipeline value for INEO Tech Corp. (INEOF)?

INEO Tech Corp.'s sales pipeline has climbed to over $40 million in annual recurring revenue.

When is INEO Tech Corp. expecting to report record revenue growth?

INEO Tech Corp. expects to report record revenue growth of nearly 90% in Q4-2022 compared to Q4-2021.

What types of companies are included in INEO Tech Corp.'s sales pipeline?

INEO's sales pipeline includes large retail chains in sectors such as grocery, apparel, hardware, and pharmacies.

Where can I find the recording of INEO's Corporate Update Webinar?

The recording of INEO's Corporate Update Webinar from July 27, 2022, is available on their website.

How many brands are utilizing INEO's digital advertising solutions?

INEO has engaged over 30 major brands, along with many smaller ones, using its INEO Media Network.