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MedBright AI Investments Inc. (MBAIF) is a cutting-edge artificial intelligence company specializing in healthcare technology solutions. The company focuses on developing AI-powered tools for hospitals and outpatient care facilities to enhance patient outcomes and streamline operational processes. With a team of experienced data scientists and healthcare professionals, MBAIF is at the forefront of revolutionizing the healthcare industry.
CIBT Education Group Inc. (TSX:MBA)(OTCQX:MBAIF) has received approval from the Toronto Stock Exchange for a normal course issuer bid (NCIB) to repurchase up to 3,423,000 common shares at a maximum cost of $3,000,000. This represents approximately 4.999% of its issued shares as of March 16, 2022. The NCIB is set to run from March 21, 2022 to March 20, 2023, with the aim of enhancing shareholder value amidst current market prices perceived as undervaluing the company.
CIBT Education Group Inc. (MBAIF) announced the results of its recent annual general meeting, where all nominated directors were successfully elected. Key voting results include:
- Morris Chen: 99.73% in favor
- Toby Chu: 91.57% in favor
- Tony David: 99.41% in favor
- Derek Feng: 99.41% in favor
- May Hsu: 99.41% in favor
- Troy Rice: 99.41% in favor
- Shane Weir: 99.43% in favor
CIBT Education Group Inc. (MBAIF) reported strong financial performance for Q1 F2022, with total revenues reaching $17.07 million, marking a 19% increase compared to the previous year. Notably, educational revenues from Sprott Shaw College surged by 8% while international college revenues skyrocketed 209%. Rental revenues also rose by 145%, contributing to overall EBITDA growth of 16%. Despite a slight decrease in net income attributable to shareholders, the company maintains a solid balance sheet with total assets up 1% to $526.43 million.
CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) reported its annual financial results for fiscal year ended August 31, 2021, with total revenues at $60.87 million, marking a 3% decline from the prior year. However, net income surged 209% to $5.18 million, while net income attributable to shareholders climbed 283% to $4.7 million. The income per share rose 250% to $0.07. The company successfully raised over $8.4 million in equity and completed $171 million in financing, amidst ongoing pandemic challenges.
CIBT Education Group has reported significant advancements in its education services following the post-pandemic economy's reopening. The company has launched new programs, including Dental Assistant and Cybersecurity, complementing its existing 130 programs. In fiscal 2021, it achieved a 24.5% increase in student registrations and a 30% rise in tuition revenue. The international education sector is recovering, with strong demand expected for English as a Second Language (ESL) courses. Additionally, CIBT has committed $500,000 in scholarships to support vulnerable youth.
CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) has reported positive trends in its academic assets and real estate investments. Enrollments at Sprott Shaw College are rising as Canada opens its borders to international students. GEC Education Mega Center has received rezoning approval, with a $300 million budget. Occupancy rates for GEC properties are at 90-100%, and rental rates have returned to pre-COVID levels. The company is negotiating multiple real estate transactions and plans to develop over 1.14 million square feet in fiscal 2022.
CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) announced its flagship project, GEC Education Mega Center, was featured in The Globe and Mail. This recognition enhances the company’s visibility in the education sector. CIBT, operating since 1994, manages a real estate portfolio exceeding $1.5 billion and provides services to over 11,000 students annually through its various educational subsidiaries.
CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) acknowledges delays in the Atmosphere Project in Richmond, B.C., which may face court proceedings due to halted funding. CEO Toby Chu stated the company will pursue all avenues to meet the project’s goals, citing positive opportunities in Vancouver's real estate market. CIBT, a significant education and academic real estate firm, has a portfolio exceeding $1.5 billion and assists over 11,000 students annually. Updates on the Atmosphere Project's status are expected in the coming weeks.
CIBT Education Group reported its Q3 2021 results, showing a 14% increase in net income attributable to shareholders, amounting to $6.755 million, and a 13% rise in basic earnings per share to $0.09. Total revenues for the nine-month period were $44.8 million, slightly declining by 4% year-over-year. Notably, educational revenues from Sprott Shaw College increased by 7%, while real estate development revenues surged 224%. The company’s total assets grew by 15% to $518.7 million. The CEO noted an anticipated revenue boost due to increased student registrations and high booking volumes for rental facilities.
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