- Fourth Quarter 2020 sales of $142,374, almost double Second
Quarter 2020; Adjusted total Fourth Quarter income is expected to
be $472,167, compared to $357,733 in Q3;
- Forecasted 2020 cumulative income to be $1,236,000;
- Forecasts reflect the full view of investment and growth
strategy;
- Michael Robinson, CEO, Ynvisible Interactive Inc. to Host
Financial Update Webinar on April 28, 2021; and
- Ynvisible Interactive Inc. and ALMAX Electronic Interface
Solutions signed a Transfer Agreement for North American and
Chinese commercial production of a Temperature Threshold Indicator
tag.
Ynvisible Interactive Inc. (the "Company" or "Ynvisible") (TSXV:
YNV, OTCQB: YNVYF, FRA: 1XNA) is pleased to provide the following
corporate update (all dollar amounts are expressed in Canadian
dollars):
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210419005998/en/
Reported Income 2018-2020 (Graphic:
Business Wire)
Ynvisible is forecasting the following financial results for the
period of October 1, 2020, to December 31, 2020 ("Q4") as compared
to its most recently reported period of July 1, 2020, to September
30, 2020 ("Q3") and the period from April 1, 2020, to June 30, 2020
("Q2" ):
- The Company is forecasting Q4 sales of $142,374 and Q4 cost of
sales of $85,184 compared to reported Q3 sales of $108,442 and Q3
cost of sales of $90,750, and Q2 sales of $77,264 and Q2 cost of
sales of $33,093.
- Operating expenses are expected to be $1,400,000 in Q4,
compared to $1,125,119 in Q3, from $1,312,990 in Q2.
- Adjusted for income from other sources, including prototype
projects and EU co-funded project grants, is expected to be
$472,159 for Q4, compared to $357,733 for Q3, compared to $300,791
reported in Q2.
The Company is continuing to see steady growth in income from
clients. With the financial forecasts announced today, the Company
forecasts cumulative revenue for 2020 to be $1,236,000.
"Our forecasts recognize that Ynvisible's 2020 revenue comes
from a mix of funded research, development, prototyping, and
contract manufacturing services. This provides a holistic view of
our investment and growth strategy as an emerging technology firm,"
commented Darren Urquhart, CFO of Ynvisible.
"In 2020, we took bold operational steps to realize the
transformation from a primarily contracted research organization
into an integrated manufacturer and solutions provider, with a
dedicated sales team," added Michael Robinson, CEO of
Ynvisible.
"As we fulfill EU-funded commitments, we see income from
development, prototyping, and contract manufacturing services
continuing to increase in the short-term. Our focus continues to be
delivering recurring revenue based on excellent customer service,
better supporting our Americas-based customers to integrate
Ynvisible's display technology into fulfilling demands for
differentiated and value-added IoT solutions," Mr. Robinson
continued.
"Our acquisitions of Consensum and rDot in 2019 and first-half
2020 are bearing fruit in second-half 2020. We focused on growing
customers, winning development and prototyping contracts, and
vertically connecting our operations. These are the critical
foundations to continued revenue growth and recurring revenue in
2021, 2022, and beyond," said Jani-Michael Kuusisto, Sr. VP of
Ynvisible Ventures. "Further, EU-funded engagements allow us to
reinforce critical ecosystem partnerships while providing a
pipeline of mid and long-term innovations."
The guidance provided herein has been approved by management on
April 19, 2021. The Company will file its Q4 financial statements
and MD&A on or before April 30, 2021 and will update these
financial results then.
TECHNOLOGY TRANSFER AND MANUFACTURING PARTNERSHIP
Ynvisible Interactive Inc. and ALMAX have partnered to bring
sensing cold chain, logistics and Human Machine Interface (HMI)
solutions to market for distributors and end customers. Ynvisible
and ALMAX have signed a Transfer Agreement for North American and
Chinese commercial production of a Temperature Threshold Indicator
tag.
Ynvisible will supply ALMAX with ready-made electrochromic
displays, in volume roll-to-roll format, for ALMAX integration.
ALMAX has begun production of the temperature tag, customized with
the ALMAX logo and graphics.
Also ALMAX has produced 200 production-ready demonstrators
integrating Ynvisible electrochromic displays into ALMAX
electronics, customized with the ALMAX logo and contact
information.
Founded in 2000, ALMAX is owned by two experienced membrane
switch and interface application ME & EE professionals from the
United States. ALMAX specializes in prototyping through volume
production, making it easy to get customers' products to market.
ALMAX owns two factories in China and one in the USA with highly
trained engineers and assemblers in all locations. ALMAX is ISO
9001, ISO13485, & IATF 16949 certified.
ALMAX is a global Printed Electronic and HMI manufacturer
headquartered in Kirkland, Washington, USA, specializing in keypads
(resistive or capacitive), complex electronic interface assemblies,
smart keypads, backlighting, and precision circuit printing.
"I am very excited about this new partnership with Ynvisible.
The temperature tag is only the beginning of integrating our
technologies to provide custom Human Machine Interface assemblies.
Ynvisible's thin and flexible electrochromic display technology
allows both companies to provide solutions previously more
difficult to manufacture, much thicker and cost-prohibitive,"
stated Alan Burk, President of ALMAX. "We can now integrate a
printed display for a complete solution."
"ALMAX has a 20-year track record of meeting customers'
aesthetic, environmental, mechanical, and electrical requirements
with the high quality, customer service and competitive prices,"
added Tommy Hoglund, VP Global Sales & Marketing Ynvisible
Interactive Inc. "Our partnership provides end-customers a clearer
path to manufacture and launch and enables value-added white label
solutions to the broader market."
For more information, please contact Alan Burk, President ALMAX
alan.b@almaxeis.com or Tommy Hoglund, VP Global Sales &
Marketing Ynvisible Interactive Inc. Tommy.Hoglund@ynvisible.com.
Additional information on ALMAX is available at
www.almaxeis.com.
ABOUT YNVISIBLE INTERACTIVE INC. Ynvisible aims to be a leading
company in the emerging printed and flexible electronics sector.
Given the cost and power consumption advantages over conventional
electronics, printed electronics are a key enabler of mass adoption
of the Internet of Things ("IoT") and smart objects. Ynvisible has
the experience, know-how and intellectual property in
electrochromic materials, inks, and systems. Ynvisible's
interactive printed graphics solutions solve the need for ultra-low
power, mass deployable, & easy-to-use electronic displays and
indicators for everyday smart objects, IoT devices, and ambient
intelligence (intelligent surfaces). Ynvisible offers a mix of
services, materials and technology to brand owners developing smart
objects and IoT products. Additional information on Ynvisible is
available at www.ynvisible.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael Robinson," CEO, Ynvisible Interactive Inc.
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.
Forward-Looking Statements This news release contains
forward-looking statements. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. All statements, other than statements of
historical fact, that address activities, events or developments
the Company believes, expects or anticipates will or may occur in
the future, including, without limitation, statements about the
Company's forecast of sales, cost of sales, operating expenses and
income from other sources; the Company's business strategy, plans
and outlooks; the future financial or operating performance of the
Company; and future marketing and operating plans are
forward-looking statements. Forward-looking statements are subject
to a number of risks and uncertainties that may cause the actual
results of the Company to differ materially from those discussed in
the forward-looking statements and, even if such actual results are
realized or substantially realized, there can be no assurance that
they will have the expected consequences to, or effects on, the
Company. Factors that could cause actual results or events to
differ materially from current expectations include, among other
things: the impact of COVID-19; risks and uncertainties related to
additional costs being subsequently identified and the allocation
of costs between reporting periods; and the possibility that the
actual financial results will not be consistent with the Company's
expectations. Actual results may differ materially from those
currently anticipated in such statements. Readers are encouraged to
refer to the Company's public disclosure documents for a more
detailed discussion of factors that may impact expected future
results. The Company undertakes no obligation to publicly update or
revise any forward-looking statements unless required pursuant to
applicable laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210419005998/en/
Investor Relations Elyssia Patterson +1 778-683-4324
ir@ynvisible.com
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