Arlington, Virginia--(Newsfile Corp. - October 29, 2024) - Edge Total Intelligence Inc. (TSXV: CTRL) (OTC Pink: UNFYF) (FSE: Q5i) ("edgeTI", "Company"), an awardee of an $950M IDIQ Contract with the US Air Force to enable Joint All Domain Command and Control (JADC2), provides a corporate update on its execution and growth readiness efforts as it seeks to lead the successful use and adoption of Digital Twins via its real-time operations platform, edgeCore, featuring embedded proven data-mesh capabilities.
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From Jim Barrett, CEO of EdgeTI:
"In my role, I'm continually driving the business and receiving constant updates. As the largest individual shareholder of EdgeTI, I realize the value of communicating this summary to investors and followers.
Reflecting on our execution and readiness for growth (this year), I'm going to focus on a few different milestones in this update. These milestones have prepared edgeTI for scale.
Here's a reminder of our most recent accomplishments.
- We completed a fully subscribed, non-brokered private placement with total proceeds of 4.25 million Canadian this September - our first financing since going public in January 2022. .
- We secured a $5 million US Dollar agreement with the United States Department of Veterans Affairs in April.
- We acquired blockchain ecosystem assets at the end of the third quarter.
- We landed a new government contract with the United States Department of Defense for "operational energy and innovation" towards what will be the world's largest and most ambitious composite digital twin.
- I personally was selected by the Forbes Technology Council to lead and voice a new member group focused on Digital Twins. We've also landed over 20 mentions in Gartner research regarding digital twins. Gartner is the largest technology analyst firm in the world whose readers and subscribers to their services are global decision makers around technology.
So, what are the five moves that we're going to do towards 2025 to increase revenue?
- We're going to drive new commercial business. Via channel growth, we're analyzing firms to advise us on this and we'll finalize that in the coming weeks. This will provide known paths and outcomes for our teams that can focus on both commercial and federal channels.
- We'll expand our federal marketing and advisory programs. We've had success in 2024, and we look forward to expanding both the people we are involved with and the programs that we'll be involved with.
- We're going to formalize our own Industry Advisory Council. This will emphasize both federal and commercial accounts.
- We're restructuring our existing debt to enable growth. We are extending the maturity (date) of our debt to minimize the impact on cash.
- We're going to increase industry analysis and awareness. We have a unique advantage with our proven data mesh and digital twin capabilities.
These five moves are not aspirational goals, they are already being acted on by both me and my staff.
Inside the OECIF Win
Looking at our earliest accomplishment this year, we secured a contract with the Office of the Deputy Assistant Secretary of Defense for Energy Resilience and Energy Optimization. Our mission is to show the availability of energy and the constraints of energy to the Department of Defense in real time.
Our forces face a significant logistical challenge due to the varied distances and sophisticated threat environments they encounter in the field. Our adversaries target supply chains, logistic networks, and advanced kinetic and digital assets. To engage these threats, the US must achieve decision dominance by integrating real-time situational awareness for all logistics functions: Fuel, supplies, equipment, and power.
A major challenge is the data that is often stored in redundant data silos, data warehouses, and data lakes across various agencies and coalition partners. The fragmentation of this data makes it difficult for war fighting communities. These range from special operations, C2ISR, and even combat functions. To overcome this, the Department of Defense initiated and funded the exercising of edgeCore to deliver real-time situational awareness of fuel and power statuses in operational theaters to overcome the perpetual limiting factor and tether of supplies.
Serving Our Veterans
The other initiative, a win that I spoke of, is the United States Department of Veterans Affairs. edgeTI received a five-year contract valued at $5,000,000 from the United States Veterans Administration. This (use case) provides greater insight into the performance of the Consolidated Mail Outpatient Pharmacy known as CMOP.
The pharmacy processes over 150 million outpatient prescriptions annually. The VA. provides approximately 80% of all patient or outpatient prescriptions to veterans. The processing of nearly 500,000 prescriptions per day. Every workday, more than 330,000 veterans receive a package of prescriptions fulfilled by CMOP in the mail.
edgeCore, our product, is leading real-time actionability and visibility into these operations. The VA has provided healthcare experiences to our veterans with much higher satisfaction, which means more reliable operations. We're leveraging this contract to expand our footprint within the VA in 2025.
2025 is All About Smart Expansion and Growth
In 2025, again, we are going to expand our commercial partners. This is going to drive new revenue streams in the coming year. We're building on the success we've seen in the federal space. We are going to do this through selected specialist channel partners to help expand the business.
We're implementing a special Advisory Board by the end of this year. This board will help identify high value opportunities using our existing relationships to expand and process additional opportunities both in the federal and commercial markets.
We're going to expand our market thought leadership position. This is through speaking engagements, which you can read about in our recent press releases. Notably, my involvement as the voice of Forbes Business and Technology Council (on Digital Twins) and our efforts with leading industry analysts like Gartner and Forrester assure our investors, current and future, understand the markets we are reaching.
We're launching an investor website. This can be found at https://ir.edgeti.com. This will feature investor materials and market content that we're creating, collecting, and putting forward.
I appreciate all of your interest in edgeTI, both current and future. I speak for of all of edgeTI when I say, 'we appreciate your support'. Thank you for the time today."
From the Board of Directors,
Jim Barrett
CEO and Chair
The content of letter is available via video here and on the new website at https://ir.edgeti.com/investors/ as are other investor materials
About edgeTI
edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore that unites multiple software applications and data sources into one immersive experience called a Digital Twin. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform's low-code development capability and composable operations. With edgeCore, customers can improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross-domain operations - helping them achieve the impossible.
Website: https://ir.edgeti.com
LinkedIn: www.linkedin.com/company/edgeti
YouTube: www.youtube.com/user/edgetechnologies
For more information, please contact:
Nick Brigman, Analyst and Press Relations
Phone: 888-771-3343
Email: ir@edgeti.com
Forward-Looking Information and Statements
Certain statements in this news release are forward-looking statements or information for the purposes of applicable Canadian and US securities law. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228109
SOURCE: Edge Total Intelligence Inc.
