NEW YORK, NY / ACCESSWIRE / January 23, 2023 / FatBrain AI (LZG International, Inc., OTCQB:LZGI) (the "Company," or "we"), the leader in powerful and easy-to-use AI solutions for economic stars of tomorrow, issued a shareholder update from CEO Peter B. Ritz. The shareholder update is included in its entirety below and can be found on FatBrain AI's website at www.FatBrain.AI.
Dear Fellow Shareholders of FatBrain AI (LZG International, Inc., OTCQB: LZGI):
On behalf of LZG International, Inc.'s ("LZGI" or "FatBrain AI") Board of Directors, our global solutions team and our clients, we are grateful and delighted to have you as a shareholder, a valued part of the FatBrain AI family.
I am pleased to share this update on where we stand and how we plan to advance as a business. I look forward to providing a similar update on a regular basis going forward.
We are in the next phase of FatBrain AI business evolution, integrating businesses we acquired with focus on AI solution development and delivery. Our assets now include over 480 developers and engineers, a subscription software AI enablement platform, and a delivery operation spanning three continents.
We are reporting over $6.9M in quarterly revenue, Sep-Nov 2022, reflecting a 184% Q/Q increase, with 81% gross margins Jun-Nov 2022. In Dec 2022, we gained over $6M in monthly revenue, while also paying down to zero a $1.7M working capital line.
We are focused on building one global team, integrating all our acquisitions into a scalable platform for organic growth. While we don't have plans for new acquisitions as we unify operations, we are tracking a $281M pipeline in new acquisitions across 21 businesses which score high on our accretive AI Solutions scale.
The market for AI Solutions is growing, estimated at US$119.78B in 2022 and expected to hit US$1,597.1B by 2030 with a registered CAGR of 38.1% from 2022 to 2030. We have tripled investments into innovation, R&D and AI data solutions. This includes plans to commercialize the regional cloud and SME marketplace in specific geos, as well as FatGPT™ offerings for SMEs, building on the demand highlighted by Open AI's ChatGPT and Microsoft. For example, using our FatGPT™ AI solution business owners could in seconds gain key insights across all their SaaS data such as, "what is the most profitable product purchased by my best clients?" or "which five clients owe the most money?" or "who can work the night shift next Thursday?"
Our mission is to become the world's leading provider of AI solutions for emerging business stars of tomorrow. We greatly appreciate the confidence you have shown in us to date and we look forward to earning your continued support.
With kindest personal regards,
Peter B. Ritz
Co-founder and CEO
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on September 13, 2022. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are based entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
About FatBrain AI (LZG International, Inc., OTCQB:LZGI):
FatBrain AI provides powerful and easy-to-use AI solutions to empower the star enterprises of tomorrow (SMEs) to grow, innovate, and drive the majority of the global economy. FatBrain's AI 2.0 technologies and advanced data services transform continuous learning, narrative reasoning, cloud and blockchain technologies into auditable, explainable and easy to integrate AI solutions. FatBrain's subscription model allows all companies to deploy its advanced AI solutions quickly and easily, securely utilizing them on premises behind their firewalls or via cloud. FatBrain's global footprint includes design and development centers in the US, India, Kazakhstan and the UK.
For more information, please visit: https://www.fatbrain.ai
SOURCE: Lotus Ventures, Inc.