New License from Workflow-tech Company plus a
Fourth License with Global Consumer Products client
CUPERTINO, Calif., June 1, 2023
/CNW/ - Boardwalktech Software Corp ("Boardwalktech" or the
"Company"), (TSXV: BWLK) (OTCQB: BWLKF) the leading Digital Ledger
platform and enterprise software applications company, is pleased
to announce that it has both added another new customer to its list
of growing clients while securing a fourth license with an existing
global customer. These client expansions reflect the ongoing
success of Boardwalktech's "land and expand" strategy and includes
multiple additional applications to be run on the Boardwalk Data
Management platform.
- Nintex is a Washington
State-based workflow and process automation technology
company and is projected to deploy multiple applications on the
Boardwalktech platform to optimize its operational data management
and augment the digital transformation of its clients.
- Estee Lauder, New-York based global consumer product
company, is deploying its fourth license with Boardwalktech, which
now includes applications targeting various areas ranging from
inventory management to operational continuity to new product
launches.
Incremental revenue from these contracts is expected to exceed
$200,000 in the next twelve months,
over $100,000 of recurring revenue in
the first year, adding to the existing annual recurring revenue
("ARR") in subsequent years for these customers. While the Company
cannot disclose specifics of the respective deals due to the
confidential and competitive nature of these agreements, they are
projected to have similar margins in line with other recent deals
and those reported in the Company's financial reports.
"We continue to make excellent progress on our land and expand
program increasing annual recurring revenues as more customers
continue to see value from and increase usage of the Boardwalk
Platform," said Andrew T. Duncan,
CEO of Boardwalktech. "We are equally pleased to welcome another
new customer in the technology sector, who have recognized the
benefits of the Boardwalk Data Platform to help them improve
workflow data management, streamlining several of their internal
processes which will deliver a terrific and measurable ROI".
About Boardwalktech Software
Corp.
Boardwalktech has developed a patented Digital Ledger Technology
Platform currently used by Fortune 500 companies running
mission-critical applications worldwide. Boardwalktech's digital
ledger technology and its unique method of managing vast amounts of
structured and unstructured data is the only platform on the market
today where multiple parties can effectively work on the same data
simultaneously while preserving the fidelity and provenance of the
data. Boardwalktech can deliver collaborative, purpose-built
enterprise information management applications on any device or
user interface with full integration with enterprise systems of
record in a fraction of the time it takes other non-digital ledger
technology-based platforms. Boardwalktech is headquartered in
Cupertino, California with offices
in India and operations in
North America. For more
information on Boardwalktech, visit our website at
www.boardwalktech.com.
Forward-Looking Information and
Statements
This press release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation and may also contain statements that may constitute
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Such forward-looking information and statements are not
representative of historical facts or information or current
condition, but instead represent only the Company's beliefs
regarding future events, plans or objectives, many of which, by
their nature, are inherently uncertain and outside of the Company's
control. Generally, such forward-looking information or statements
can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or may contain statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken",
"will continue", "will occur" or "will be achieved".
By identifying such information and statements in this manner,
the Company is alerting the reader that such information and
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance, or achievements of the Company to be
materially different from those expressed or implied by such
information and statements.
An investment in securities of the Company is speculative and
subject to several risks including, without limitation, the risks
discussed under the heading "Risk Factors" in the Company's filing
statement dated May 30, 2018.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in the forward-looking information and forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended.
In connection with the forward-looking information and
forward-looking statements contained in this press release, the
Company has made certain assumptions. Although the Company believes
that the assumptions and factors used in preparing, and the
expectations contained in, the forward-looking information and
statements are reasonable, undue reliance should not be placed on
such information and statements, and no assurance or guarantee can
be given that such forward-looking information and statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information and
statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release, and the Company does not undertake to update
any forward-looking information and/or forward-looking statements
that are contained or referenced herein, except in accordance with
applicable securities laws. All subsequent written and oral
forward- looking information and statements attributable to the
Company or persons acting on its behalf is expressly qualified in
its entirety by this notice.
Neither 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.
View original
content:https://www.prnewswire.com/news-releases/boardwalktech-lands-new-client-and-fourth-license-expansion-with-existing-customer-301839994.html
SOURCE BoardwalkTech