TORONTO, ON / ACCESSWIRE / July 12, 2021 / DigiMax Global Inc. (the "Company" or "DigiMax") (CSE:DIGI), a Company that provides artificial intelligence and cryptocurrency technology solutions to individuals and SME's, is pleased to provide a corporate review for Q2 and an outlook for the Company in Q3.
Despite a substantial erosion in share prices for all developing companies involved in the crypto industry, DigiMax has emerged from Q2 of 2021 stronger than ever and is now gaining solid traction in all of the projects it has entered into. The primary objective of the Company from here forward is to grow revenue and EBITDA and the Company is progressing on plan to make this happen.
In its first month of Operation, the new CryptoHawk produced significant gains for subscribers using the product's Price Trend Indicators. For those trading long and short, CryptoHawk produced a 25.9% gain before transaction costs for BTC, against a 7% price drop loss over the month for BTC; and a 13.2% gain before transaction costs for ETH against a 15% loss in market price of ETH for the month.
At the end of Q1, the Company provided its outlook for Q2 and we are pleased to report we have made substantial progress on almost all milestones, and it has achieved additional ones.
Q2 Outlook announced April 5, 2021
The Company is starting the second quarter having internally advanced several of its new initiatives that should start to be completed in the near future. Shareholders can expect to see several milestones achieved in the coming quarter including:
- Substantially increased subscriber numbers for CryptoDivine - with the introduction of the new product CryptoHawk, marketing efforts were deferred until after the launch and this goal was pushed to after the launch - numbers are now steadily increasing
- Several new valuable functions being added to CryptoDivine - the new product CryptoHawk has many enhancements over the original CryptoDivine including improved predictive capabilities, reduced numbers of alerts being sent, better graphics and better historical tracking. The Advanced system allows much more useful trading tolls and tips for active and experienced traders.
- Additional customer and partner relationships for PPI - PPI is undergoing trials by several police forces in Canada and the US and is now being reviewed by a growing number of large corporate enterprises as well
- One or more new accretive business ventures or acquisitions - DigiMax acquired a 15% interest in Kirobo and acquired the crypto currency artificial intelligence technology from Delphi technologies
- One or more additional Directors - Michael Kron, a Chartered Public Accountant in Canada with a great deal of crypto experience, was appointed as Chair of the audit committee
Details regarding a new SaaS platform offering to commence in Q3 - this is under development and will be announced soon
Additional Milestones not listed in the April 2021 Outlook include:
- Announcement of the formation of a Cayman based Crypto Hedge Fund
- Launch of a completely new brand, CryptoHawk to replace the original CryptoDivine product
DigiMax starts Q3 concentrating almost entirely on growing revenues in each of its business segments including CryptoHawk, PPI, and Navee Predict (https://datanavee.com/business-1/). Two new revenue sources are expected to be added before the end of the quarter including the commencement of the Crypto Fund and the announcement of a new, non-crypto investor prediction product that utilizes similar AI technology to predict price movements. The milestones expected to be accomplished include:
- Announcement of new collaboration partners for CryptoHawk
- Addition of Price Trend Outlook for several additional crypto currencies available through the advanced subscription of CryptoHawk
- Addition of Alt-Coin Radar which highlights new crypto coins not already in the top 100 coins by market cap that have the potential to produce above average returns, also made available through the advanced subscription of CryptoHawk
- Commencement of trading of Cayman Crypto Fund
- Introduction of a new Artificial Intelligence based subscription service outside of crypto currencies for both retail and institutional investors
Kirobo continues to grow at a rapid pace with its Kirobo Undo product having recently surpassed US$1 billion of transactions having been made by third parties. The Undo feature allows anyone who needs to transfer any type of crypto currency to recall a transaction that is made in error, and to require passwords from the recipients before the recipient can collect the transfer. This feature adds incredible security in the Decentralized Finance world that has seen a pause in overall market adoption specifically due to the risk of transfers being made in error. Kirobo completely eliminates this problem.
DigiMax acquired 15% ownership of Kirobo in early May 2021 at a market cap for Kirobo of US$27 million. DigiMax elected to not exercise an option to acquire an additional 15% in exchange for DigiMax shares as it was decided it would be too dilutive to existing DigiMax shareholders.
DigiMax Global Solutions is a technology Company committed to unlocking the potential of disruptive technologies by providing advanced financial, predictive, and cryptocurrency solutions across various verticals. DigiMax is an official IBM Watson partner and the Company's engineering team has extensive experience in Machine Learning, Neural Language Processing, Artificial Intelligence, Big Data and Cryptocurrency technology.
The Company's Projected Personality Interpreter (PPI) solution is currently used by various organizations including 17 law enforcement agencies that are gaining comparative insights for better hiring decisions, reducing employment attrition, and improving workplace culture.
The Company's SAAS platform CryptoDivine allows cryptocurrency investors to simplify their decision making, reduce risk, exploit market volatility and improve investing performance. The Company's proprietary AI engine analyzes millions of data points per hour to spot relevant patterns and generate accurate price trend predictions.
To learn more, visit our website www.digimaxglobal.com.
President & CEO
Cautionary Note Regarding Forward-looking Statements
This press release contains 'forward-looking statements or information'. 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 in this press release include, among others, statements we make regarding information about future plans, expectations and objectives of the Company.
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. The Company may not actually achieve its plans, projections, or expectations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. 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: 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, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, consumer sentiment towards the Company's products and services, failure of counterparties to perform their contractual obligations, government regulations, competition, loss of key employees and consultants, and general economic, market or business conditions, the impact of technology changes on the products and industry, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
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