ONESOFT SOLUTIONS INC - OSSIF STOCK NEWS

OneSoft Solutions announced a multi-year agreement with a Fortune 50 oil and gas client to deploy its Cognitive Integrity Management (CIM) platform for pipeline integrity management. This collaboration aims to enhance the client's digital transformation, leveraging machine learning and data science for improved operational efficiencies and cost reductions. The client, recognized for low-carbon fuel production, operates several renewable and petroleum facilities globally. OneSoft anticipates this partnership will yield substantial benefits as both parties advance their commitment to innovation and safety.

OneSoft Solutions Inc. announced the commercial release of its Corrosion Management System (CMS) through its subsidiary, OneBridge Solutions Canada Inc. The CMS is a software-as-a-service tool designed for oil and gas pipeline operators to manage internal corrosion (IC) threats effectively. Developed over 8 months, this system utilizes data analytics and machine learning on the Microsoft Cloud to enhance pipeline integrity management. The CMS aims to lower operational costs associated with IC while providing actionable insights for preventative measures. A webinar will demonstrate CMS on July 13, 2022.

OneSoft Solutions has announced the acquisition of Bass Engineering's Integrity Management operations, effective July 1, 2022. This acquisition includes key intellectual property and software assets related to risk management, specifically aimed at high consequence areas in pipeline operations. OneSoft plans to transition these operations into a software-as-a-service model, leveraging cloud technology for enhanced data management and risk assessment. The total payment includes $375,000 in cash and 1,828,125 shares over three years. This move aims to enhance OneSoft's offerings and accelerate market plans.

OneSoft Solutions (TSX-V:OSS, OTCQB:OSSIF) reported financial results for Q1 2022, showing a 34.2% revenue increase to $1,280,000 compared to Q1 2021. Gross profit was $897,000, representing 70% of sales. However, the net loss widened to $1,064,000, driven by investments in product enhancements. With cash and receivables of $7.4 million and no debt, management believes they are well-positioned for future growth. Deferred revenue surged 321% to $3.8 million, reflecting new contracts.

OneSoft Solutions Inc. conducted its Annual General and Special Meeting on May 3, 2022, achieving a quorum with 69,253,896 common shares voted, representing 58.5% of outstanding shares. All resolutions outlined in the Management Information Circular were approved. Subsequently, the company granted 900,000 stock options to various directors and senior executives, with each receiving 100,000 options at a strike price of $0.345. The options vest 50% at grant and anniversary dates and expire after five years if unexercised.

OneSoft Solutions Inc. (OSSIF) announced its participation in the Planet MicroCap Showcase 2022 on May 4, 2022, in Las Vegas. President and COO Brandon Taylor will present and hold 1-on-1 investor meetings. The company ended 2021 with 7 new multi-year clients, maintaining a strong balance sheet and an active customer pipeline. Taylor emphasized OneSoft's competitive edge by leveraging machine learning and cloud computing over competitors using outdated systems. A webcast of the presentation will be available for those unable to attend.

OneSoft Solutions Inc. (OSSIF) reported its financial results for Fiscal 2021, highlighting a revenue increase to $4.44 million from $4.06 million in 2020. The fourth-quarter revenue saw a remarkable rise of 24.3% year-over-year. Despite a net loss of $3.89 million, cash and short-term investments totaled $5.51 million. The Company successfully signed seven new customers, driving its growth strategy. Management anticipates strong client relationships will bolster future revenue, sustained by a solid balance sheet and ongoing product development.

OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) has announced a significant partnership with a large US-based cooperative that will adopt its Cognitive Integrity Management (CIM) software-as-a-service (SaaS) solution. Following thorough due diligence, the cooperative aims to optimize pipeline integrity and data management. The CIM production trial demonstrated that it could reduce the need for pipeline excavations and inspections compared to legacy analytics, potentially lowering maintenance costs. This move underscores OneSoft's commitment to innovative data management in the oil and gas sector.

OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) and ENTEGRA LLP have announced a partnership to integrate OneSoft's Cognitive Integrity Management (CIM) software into ENTEGRA's inspection services for oil and gas pipelines.

This collaboration aims to enhance data analysis capabilities, utilizing machine learning to improve pipeline integrity assessments. ENTEGRA will have exclusive access to CIM, allowing for efficient comparison of historic inspection data. The initiative is expected to bolster ENTEGRA's innovative approach while providing superior services to their customers.