INSURAGUEST TECH INC - ISGIF STOCK NEWS

InsuraGuest Technologies, Inc. closed its Rights Offering with 65,048,925 rights exercised, generating approximately $813,111 in gross proceeds. Douglas Anderson, the guarantor, received a warrant to purchase 311,209 common shares. Mr. Anderson now holds a total of 52,852,605 common shares, representing 31% of the total outstanding shares. The company is revolutionizing insurance delivery through its proprietary software platform.

InsuraGuest Technologies, Inc. appoints Paul Skene as a new director, a veteran in Utah's commercial real estate industry, bringing valuable experience to the company. The appointment follows the resignation of former board member Christopher J. Panos. InsuraGuest Technologies is an insurtech company focused on serving the hospitality industry.

InsuraGuest Technologies, Inc. announced a Rights Offering for its Common Shares, with a subscription price of $0.0125 CAD per share. The offering includes a Standby Purchase Agreement with the company's Director and CEO, Douglas Anderson, ensuring a minimum total proceeds of $425,000 CAD. Anderson will purchase common shares at the Rights Price and receive a bonus warrant for additional shares. The Rights Offering will be used for various purposes, including repayment of debt and marketing costs.

InsuraGuest Technologies announces a new alliance with SIA Group to provide Hospitality Liability coverage to hotel clients. This partnership aims to transfer small property and medical claims to reduce risk and lower insurance premiums. Hotel operators can charge guests a nominal fee of $4.95 per night for coverage, generating additional revenue. InsuraGuest's solution integrates with around 82 property management systems, enhancing claims management. This strategic move is intended to expand InsuraGuest’s reach among SIA's 500+ hospitality customers.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) reported its quarterly results for the period ended September 30, 2022. The company achieved revenues of $81,405, a significant increase from $40,726 in the same quarter of 2021, attributable to its new vacation rental insurance service. Gross margin was $54,612, up from $32,185 a year prior. Notably, the comprehensive loss narrowed to $190,991 from $598,950. Decreased operating expenses were linked to effective cash flow management and a reduction in marketing costs.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) reported a 253% revenue growth for the fiscal year ending June 30, 2022, as it continues to expand its insurtech software offerings. The company doubled its vacation rental property clients and launched new products, contributing significantly to its growth. Despite not adding new hotels, InsuraGuest is engaging with hotel groups and focusing on sales and marketing to drive further expansion. The company acknowledges competition in the insurtech space but remains optimistic about its growth trajectory.

InsuraGuest Technologies has formed a strategic marketing agreement with Lodgify, a leading vacation rental software provider. Under this partnership, InsuraGuest's subscription-based vacation rental insurance products will be offered to Lodgify's U.S. users, including hosts and property management companies using platforms like Airbnb and VRBO.

This collaboration aims to enhance property safety and insurance accessibility. InsuraGuest's President highlights the significance of expanding their reach in the short-term rental market via this partnership.

InsuraGuest Technologies (TSXV:ISGI)(OTCQB:ISGIF) has launched a new subscription-based insurance product for the Vacation Rental/Short Term Rentals market. This innovative offering enables property owners and managers to select coverage options for under $1 a day, with 24/7 coverage that can be adjusted seasonally. The product includes unique primary no-fault medical coverage for guests. The company aims to reach a broader audience, including the 1.7 million U.S. rental properties without property management systems, enhancing their market presence.