DigiMax Provides Shareholder Update
Monday, January 6, 2020 4:15 PM
TORONTO, ON / ACCESSWIRE / January 6, 2020 / DIGIMAX GLOBAL SOLUTIONS (CNSX:DIGI) (the "Company" or "DigiMax") is pleased to provide the following brief update for its shareholders and other interested parties.
As alluded to in prior Press Releases, DigiMax is pleased to report that its gross revenue for November and December 2019 exceeded $100,000. This revenue comprises approximately 60% success fees and 40% consulting fees and both types of fees are expected to grow at a steady pace for the foreseeable future.
As part of ongoing changes resulting from the recently announced Board changes, the Company is consolidating its operations by reducing costs through several measures, while expanding its efforts into those activities that generate revenues and profitability. These efforts include, reducing flat monthly consultant fees to zero and only paying such fees from revenues being generated, eliminating travel to trade shows and other locations unless immediate revenue will result, and consolidating social media and other costs associated with its on-line presence into a single service provider at much lower costs than previously being incurred.
Please note in the Contact section of this Press Release that these changes have resulted in a change of contact email addresses.
The Company is also reviewing two immediate opportunities to enter into some form of collaboration or joint venture that can have a positive and immediately accretive impact on revenue and profitability. No guarantee can be made that the company will complete these agreements but good opportunities continue to arise to help the Company grow it revenues.
Further, upon regulatory approval, the Company expects to launch its on-line Issuer and Investor information platform service in the near term.
DigiMax is based in Toronto and is the first global company in the Digital Security space to be both publicly listed (listed on the Canadian Securities Exchange-symbol: DIGI) and to be approved by OSC in Ontario, Canada as an 'Exempt Market Dealer'.
DigiMax is currently seeking to become a registered dealer in several other countries and is developing a state-of-the-art platform with its partners to provide qualified investors preferred access to high quality digital security offerings in the rapidly growing Digital Security market. DigiMax also assists companies to raise capital through traditional forms of securities.
The Company has a highly qualified management team with extensive experience in global financial and capital markets, combined with a rapidly expanding global presence with joint venture partnerships already established in such important geographies as USA, Hong Kong, Indonesia, Malaysia, England, Singapore, Korea and Malta with discussions or negotiations underway in several more.
President & CEO
Cautionary Note Regarding Forward-looking Statements
NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
This press release contains "forward-looking statements". Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding changing the Company's name.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: shareholders approving the change of name to DigiMax, the adequacy of our cash flow and earnings, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the App Platform described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE: DigiMax Global Solutions