ONESOFT SOLUTIONS INC - OSSIF STOCK NEWS

OneSoft Solutions Inc. has partnered with Advisian to enhance pipeline integrity management through the use of their Cognitive Integrity Management (CIM) software-as-a-service. This agreement allows Advisian to deploy CIM globally for pipeline integrity projects, leveraging machine learning and data analytics.

The collaboration follows successful Production Trials in Australia and Europe, which confirmed the efficacy of CIM in managing pipeline risks and improving operational efficiency. This partnership aims to create ongoing consulting agreements and expand their market presence.

OneSoft Solutions reported Q1 2021 financial results with revenue of $953,916, down 42.9% from $1.67 million in Q1 2020. Gross profit declined to $708,000, a 47% decrease year-over-year. The net loss reached $994,000 compared to a profit of $27,000 a year earlier. The company received $2.8 million in advance payments, increasing deferred revenue. Despite higher operating expenses due to R&D investments, OneSoft maintains a healthy cash position of $7.4 million, with no debt, which supports its growth strategy.

OneSoft Solutions Inc. (OSSIF) has entered into a technology sharing agreement with C-FER Technologies to integrate C-FER's quantitative risk models into OneBridge Solutions' Cognitive Integrity Management (CIM) SaaS platform. This collaboration aims to enhance risk assessments for oil and gas pipeline operators, aligning with recent regulatory updates demanding advanced data management. C-FER will benefit from royalties and commissions from the integrated solution's sales, marking a significant step in digital transformation within the energy sector.

OneSoft Solutions Inc. (OSSIF) announced a multi-year agreement with a major U.S. pipeline company to integrate its Cognitive Integrity Management (CIM) software. This partnership aims to enhance integrity management practices and boost operational efficiency through data analytics and digital transformation. The client, an industry leader with a focus on safety and innovation, operates extensive pipeline infrastructure across multiple states. OneSoft's strategy includes leveraging machine learning to create cost-effective SaaS solutions for pipeline operators.

OneSoft Solutions reports a significant 50% revenue increase for the fiscal year 2020, totaling C$4.056 million, despite pandemic challenges. Annual recurring revenue rose 57%, driven by existing clients using their Cognitive Integrity Management (CIM) SaaS. However, the overall revenue growth fell short of expectations. The company retains a strong balance sheet with C$7.2 million in cash and no debt. Recent developments include new IP acquisition and active sales initiatives in multiple countries, indicating potential future growth.

OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) announced the acquisition of intellectual property from Michael Gloven, P.E. The acquired machine learning algorithms will enhance the Cognitive Integrity Management (CIM) software, improving data analytics for pipeline inspections. This aligns with regulatory standards and supports ongoing safety inspections. The transaction terms remain undisclosed but involved cash and share issuance. OneSoft is committed to leveraging this new technology to bolster its SaaS offerings in the pipeline management sector.

OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) has secured a multi-year agreement with a division of a Fortune 100 company to utilize its Cognitive Integrity Management (CIM) software-as-a-service for pipeline integrity management. Initially, CIM will manage about 30% of the Client's infrastructure, with plans for full deployment. The Client, a major player in the oil and gas sector with over $40 billion in revenue, validated CIM's effectiveness during a trial phase, aligning with its digital transformation strategy. Implementation is set to begin in January 2021.

OneSoft Solutions, a developer of cloud-based business solutions, reported Q3 2020 financial results with a revenue of $795,000, surpassing last year's $770,000. However, net losses increased to $999,000 from $664,000 in Q3 2019. Cash and investments totaled $8.2 million, and working capital was $6.8 million, with no debt. The company aims for a 50% year-over-year revenue increase despite pandemic-related delays. New sales leads and Production Trials are active, with expansion prospects in multiple global markets.

OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) has entered a Teaming Agreement with EMDAD LLC to market the Cognitive Integrity Management (CIM) software. This strategic collaboration aims to enhance pipeline management for oil and gas in the UAE and Middle East. OneBridge will provide technical and marketing support, while EMDAD offers engineering and implementation services. They will jointly present at the Abu Dhabi International Petroleum Exhibition & Conference from November 9-12, 2020, aiming to leverage key themes of technology and innovation.