VANCOUVER, British Columbia--(BUSINESS WIRE)--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):
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 email@example.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.
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.