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TrustBIX Inc. (TSXV: TBIXF) is an agricultural technology company based in Edmonton, Alberta. The company provides Gate to Plate® solutions to promote trust, reduce waste, and reward sustainable practices in the agri-food industry. TrustBIX recently announced financial results, highlighting a reduction in total operating expenses by 57% in Q1 2024 compared to the previous year. The company's core businesses include ViewTrak and indoor farming technologies, with a focus on operational efficiency and future growth.
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TrustBIX Inc. announced the cancellation of 20,000,000 common shares held in escrow, reducing the total outstanding common shares to 118,869,330. The Escrow Shares were to be released upon meeting specific conditions related to the acquisition of Insight Global Technology Inc., but as the conditions were not met, the shares were cancelled without any consideration. This event impacts the company's share structure and highlights the importance of meeting acquisition-related conditions.
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TrustBIX Inc. held its Annual General Meeting of Shareholders on April 18, 2024, where all proposed matters were approved. Shareholders fixed the number of directors at five, elected five directors, and re-appointed the Company's auditors. The Company expressed gratitude to shareholders for their participation and support.
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TrustBIX Inc. announces first orders for indoor farming technology, totaling $650,000 with a 25% gross margin. Annual fees of 5% of purchase price expected for automation and monitoring. Revenue recognition upon product delivery.
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TrustBIX Inc. signs an exclusive international territory reseller agreement with AgriPlay Ventures Inc., allowing Alberta Food Security Inc. to resell indoor farming technology globally. The 10-year Agreement aims to strengthen the partnership and leverage global relationships for mutual growth.
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TrustBIX Inc. (TBIXF) announces financial results for Q1 2024, showcasing a significant reduction in operating expenses and strategic changes to focus on key businesses. Revenue decreased by 29.7%, operating expenses by 57.4%, and non-cash operating expenses by 92.5% compared to Q1 2023.
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TrustBIX Inc. (TBIXF) has closed a non-brokered private placement, issuing 6,500,000 common shares at $0.01 per share for gross proceeds of $65,000. The company conducted the placement under various prospectus exemptions and the securities issued are subject to a hold period. The proceeds will be used for general working capital and business growth.
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TrustBIX Inc. (TBIXF) announced a 27.1% increase in revenue and a 24.4% decrease in net loss for the year ended September 30, 2023, compared to 2022. Operating expenses decreased by 21.4%, and non-cash operating expenses related to stock-based compensation and amortization and depreciation expense also decreased. The company's CEO, Hubert Lau, expressed satisfaction with the strategic changes and plans to continue executing the business plan in 2024.
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TrustBIX Inc. (TBIX) announces the approval of a grant of stock options to its directors, officers, employees, and consultants to purchase up to 8,400,000 common shares at an exercise price of $0.01 per share. The Options will vest over a period of three years and will expire if not exercised within that time frame.
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TrustBIX Inc. (TSXV: TBIX) announces a strategic shift in its product portfolio, including the phase-out of ViewTrak Market Master and Dealer Master software programs, representing 19% and 23% of total revenue, and an extension and amendment to its convertible debenture.
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TrustBIX Inc. (TSXV: TBIX) closed the second and final tranche of its non-brokered private placement, issuing 1,300,000 units at a price of $0.02 per unit for gross proceeds of $26,000. The company issued an aggregate of 4,500,000 units for gross proceeds of $90,000, with each unit comprised of one common share and one common share purchase warrant. Certain insiders participated in the private placement for an aggregate total of 550,000 units for gross proceeds of $11,000. The proceeds will be used for ongoing working capital and expenses associated with the completion of the acquisition of Alberta Food Security Inc.
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FAQ
What is the current stock price of Trustbix (TBIXF)?
The current stock price of Trustbix (TBIXF) is $0.0084 as of February 7, 2025.
What is the market cap of Trustbix (TBIXF)?
The market cap of Trustbix (TBIXF) is approximately 1.0M.
What solutions does TrustBIX provide?
TrustBIX offers Gate to Plate® solutions to enhance trust, reduce waste, and promote sustainable practices in the agri-food industry.
What were TrustBIX's financial results for Q1 2024?
In Q1 2024, TrustBIX saw a 57% reduction in total operating expenses compared to the previous year, signaling a strategic shift and focus on operational efficiency.
Which are TrustBIX's core businesses?
TrustBIX's core businesses include ViewTrak and indoor farming technologies, with an emphasis on global partnerships and sustainable solutions.
Where can I find TrustBIX's financial reports?
TrustBIX's financial results and Management's Discussion and Analysis (MD&A) can be accessed on the SEDAR+ platform at www.sedarplus.ca.
What is TrustBIX's vision for the agri-food industry?
TrustBIX aims to create a world where trust is paramount, waste is minimized, and sustainable practices are rewarded through innovative technologies and solutions.
Who is the CEO of TrustBIX?
Hubert Lau serves as the CEO of TrustBIX, leading the company's strategic initiatives and operational changes for future growth.
What recent partnership did TrustBIX announce?
TrustBIX recently signed an exclusive international territory reseller agreement with AgriPlay Ventures Inc., expanding its reach in the indoor farming technology sector.
How does TrustBIX utilize artificial intelligence in its operations?
TrustBIX leverages artificial intelligence and machine learning systems for automation and monitoring in indoor farming technology, enhancing operational efficiency and sustainability.
What distinguishes TrustBIX's technologies in the agri-food industry?
TrustBIX's award-winning technologies are trusted by local and international agri-food organizations, offering practical tools and solutions for sustainable practices.
What is TrustBIX's primary focus for future growth?
TrustBIX is committed to strengthening its core businesses, ViewTrak and indoor farming technologies, to drive innovation, operational excellence, and global expansion.
When was TrustBIX founded?
TrustBIX Inc. was founded in Edmonton, Alberta, to provide Gate to Plate® solutions for the agri-food industry, promoting trust and sustainability.
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