MEMEX - IMTS 2018

MEMEX Inc. to Showcase MERLIN Tempus at IMTS 2018: The Next Generation of Data-Driven Manufacturing Software

BURLINGTON, ON / ACCESSWIRE / September 6, 2018 / MEMEX Inc. (“MEMEX” or the “Company”) (TSX-V: OEE) is proud to announce that it will be showcasing and demonstrating its latest release of MERLIN Tempus Enterprise Edition (EE) at the International Manufacturing Technology show (IMTS) 2018, being held at McCormick Place in Chicago. The show runs from September 10th through the 15th, and MEMEX will be located at booth 133368.

Developed utilizing the latest technology (HTML5, .NET, RESTful API’s), MERLIN Tempus’ real-time data collection capabilities can capture machine-generated information and real-time sensor data including alarm states, feed and speed rate overrides, as well as various other green-light metrics. This data can then be contextualized in a wide array of easy-to-read visual dashboards and KPI reports.

Tempus provides for easy navigation and has many enhanced features useful to production personnel, engineers, operators and managers for shop floor production operations, including role-based dashboards, Op-Step management functionality, priority and alternate machine routings, asset management, traceability, event manager pan and zoom, analytics, and advanced data source conditioning. The ‘enterprise edition’ allows for all this plus, with its new durable gateway architecture, allows for multi-plant operations across time zones. The EE also offers bi-directional communication to virtually all ERP systems.

“The 5-steps to success in Data-Driven Manufacturing are: Connect – Visualize – Analyze – Optimize – Monetize. MERLIN Tempus allows manufacturers to take control of this process and optimize operational efficiency at a whole new level.”, says David McPhail, CEO & President, MEMEX Inc., “This release of MERLIN is the most scalable and powerful plant monitoring software in the Company’s history.”

About MEMEX Inc.:

Established in 1992, MEMEX grew to be an industry leader in Industry Internet of Things (IIoT) through the development of MERLIN Tempus, an award-winning platform that delivers real-time, tangible increases in manufacturing productivity. MEMEX is on the leading edge of industry trends in computing power, machine connectivity, industry standards, advanced software technology, and manufacturing domain expertise.

Our persistent pursuit of innovative IIoT solutions led to a comprehensive understanding of the challenges manufacturers face. We made it our mission to, “successfully transform factories of today into factories of the future.” As the global leader in Machine to Machine (M2M) connectivity solutions, our hardware and software products create unparalleled visibility at all levels, from “Shop-Floor-to-Top-Floor.”

The MERLIN Tempus Suite provides effective quantification and management of Overall Equipment Effectiveness (OEE) by revealing hidden capacity using real-time objective data. Further, it offers sustainable benefits that enable world class OEE such as reducing costs, incorporating strategies for continuous LEAN improvement, and boosting bottom line financial performance. For more information, please visit: www.MemexOEE.com

For inquiries please contact:

Sean Peasgood, Investor Relations
647-977-9264
sean@sophiccapital.com

Rashi Rathore, Marketing Manager

905-635-1540

investor.relations@memexOEE.com

David McPhail, President & CEO

905-635-1540

investor.relations@memexOEE.com

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MEMEX Secures $650 Thousand in New Purchase Orders

Company Announces Appointment of New Director

BURLINGTON, ON / ACCESSWIRE / July 5, 2018 / Memex Inc. (“MEMEX” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today announced that in the month of June the Company secured more than $650 thousand in new (purchase) orders. Although June’s orders were primarily follow-on business from existing clientele, there were some new customer orders booked that have the potential to develop into significant future business.

“We are very pleased with the support shown by our current customer base and their continued willingness to expand MERLIN’s footprint within their manufacturing environments,” stated MEMEX President and CEO David McPhail. “June was a good month for business development, and we are continuing to see as much new business opportunity now as we did at the end of May.”

New Director Appointment

By unanimous resolution, on June 14th, MEMEX appointed Michael Christiansen to its Board of Directors. Mr. Christiansen is the Managing Director and Chief Financial Officer of Weild & Co., Inc., a Colorado-based leading network investment bank serving independent investment bankers and corporate issuer clients. Michael brings more than three decades of Senior Management, Advisory, and Director-level experience and has a diverse background that includes Technology, Digital Media, Pharmaceuticals, and Mining, as well as investment banking.

About MEMEX:

MEMEX was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300%. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

Sean Peasgood, Investor Relations
647-977-9264
sean@sophiccapital.com

Rashi Rathore, Marketing Manager
905-635-1540
investor.relations@memexOEE.com

David McPhail, President & CEO
905-635-1540
investor.relations@memexOEE.com

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.­­­­­­­­­­­­­­­­­­­­­

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Memex Inc. Releases Q2-2018 Financial Results

BURLINGTON, ON / ACCESSWIRE / May 24, 2018 / Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial highlights for the second quarter ending March 31, 2018. All results are reported in Canadian dollars. A complete set of the March 31, 2018 Consolidated Financial Statements and Management’s Discussion & Analysis has been filed at www.sedar.com.

Summary Financial Highlights for the Three-months Ended March 31, 2018:

  • Memex reported $764 thousand in revenue during the second quarter, up 120% from the $348 thousand in the year-ago quarter and up 111% from last quarter;
  • Gross margin was 71% during the quarter compared to 32% in the year-ago quarter and 43% last quarter, the significant improvement in margins this quarter was due to the increase in sales and flat direct labour cost;
  • Net and comprehensive loss was $511 thousand ($0.004 per share) compared to a $1.26 million loss ($0.011 per share) in the year-ago quarter, and $985 thousand ($0.007 per share) last quarter;
  • Bookingsi for the quarter were $633 thousand versus $573 thousand during Q2-2017 and $660 thousand last quarter;
  • Cash consumed from operating activities (before changes in working capital balances) was $416 thousand for the current period, an improvement of $756 thousand from the same period a year ago and better than the $901 thousand consumed last quarter, and;
  • The Company had $1.43 million in working capital including $1.78 million in cash at March 31, 2018, as compared with $1.87 million in working capital and $2.46 million in cash at December 31, 2017.

Summary Financial Highlights for the Six-months Ended March 31, 2018:

  • Memex reported $1.13 million in revenue for the six-months ended March 31, 2018 compared to $853 thousand in total revenue in the same period a year ago (a 32% increase);
  • Gross margin was 62% for the period compared to 47% for the year-ago period, primarily due to higher sales volume;
  • Bookingsi for the period totalled $1.29 million versus $966 thousand in the same period a year ago, a 34% increase;
  • Net and comprehensive loss for the period was $1.50 million ($0.011), compared to $2.03 million ($0.018) for the same period a year ago.

Management Commentary:

“I am pleased with both the sequential and year-over-year improvement in revenue and bookings in Q2, but we still have more work to do,” said Memex President and CEO David McPhail. “Following a few challenging quarters, we are starting to see a strong reversal in sales opportunities with more motivated prospects than ever before. While we continue to invest in targeted customer market outreach and will be showcasing our technology at IMTS 2018 in Chicago this coming September, we are now focusing on closing advanced sales opportunities.”

Selected Financial Information:

 

Three-months period ended
March 31
Six-months period ended
March 31
(Canadian dollars – in thousands except per share and margin%)
2018
2017
Change
2018
2017
Change
Revenue
764 348 + 120 % 1,126 853 + 32 %
Bookingsi
633 573 + 10 % 1,292 966 + 34 %
Gross margin %
71.1 32.1 + 121 % 62.0 46.7 + 33 %
Operating expenses
1,041 1,362 – 24 % 2,168 2,435 – 11 %
Cash utilized in operating activities1
416 1,172 – 65 % 1,317 1,904 – 31 %
Net and comprehensive loss for the period
(511 ) (1,263 ) – 60 % (1,497 ) (2,025 ) – 26 %
Basic and diluted loss per share – period
(0.004 ) (0.011 ) – 64 % (0.011 ) (0.018 ) – 37 %

 

1. Before changes in non-cash working capital balances.

 

As at
(Canadian dollars – in thousands except WC ratio)
March 31,
2018
September 30,
2017
Cash on hand
1,775 3,458
Current assets
2,632 4,104
Total assets
3,004 4,522
Current liabilities
1,206 1,313
Working capital*
1,426 2,791
Working capital ratio**
2.18 to 1
3.13 to 1
Backlogii
1,388 1,311

 

* Working Capital = current assets – current liabilities
** Working Capital ratio = current assets / current liabilities

Outlook:

Strategic cost saving initiatives implemented in March 2018, which included reducing Senior Management salaries as well as corporate overhead, are already yielding benefits. This is evident in the Company’s second quarter results and should help to produce better financial results in future quarters.

Based upon current backlogii of $1.39 million at March 31, 2018, Memex anticipates recognizing between $500 to $750 thousand in revenue for its third quarter of fiscal 2018, in addition to several larger projects moving towards completion but not anticipated to be completed in Q3. Management is still targeting a cash flow break-even run rate in the fourth quarter of fiscal 2018.

About Memex Inc.:

Memex was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since its inception Memex has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. Memex is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. Memex’s software and hardware IIoT solution enables customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com

Forward-Looking Statements:

The statements “…Memex anticipates recognizing between $500 and $750 thousand in revenue for its fiscal Q3-2018…” and “Management is still targeting a cash flow break-even run rate in the fourth quarter of fiscal 2018” are forward-looking statements. The intention was to communicate management’s interpretation of the Company’s backlog and the effect that their cost cutting initiatives will have on future financial results. These forward-looking statements are based upon bookings the Company has already received from its Customers that are supported by purchase orders, as well as from management’s best estimate of future bookings to be generated and converted into revenue beyond the end of the third quarter of fiscal 2018. These statements also consider internally prepared future forecasts of Company performance and take into account the spending reductions implemented since the end of December 2017. However, there is no guarantee that revenues will fall within management’s projections or if actual cost cutting initiatives can or will be maintained or will have the anticipated effect, or if other factors may prevent the Company from achieving revenue growth, a cash flow break even run rate or profitability at any point in the future. These forward-looking statements are subject to material risk factors such as anticipated future bookings not materializing, bookings not converting into revenue as quickly as management anticipates, or at all, and that unforeseen costs may be incurred delaying profitability beyond management’s expectations or achieving profitability at all. In addition, these forward-looking statements are subject to various unknown material risks and uncertainties, many of which are beyond the ability of the Company to control or predict. Such forward-looking information represents Management’s reasonable judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The aforementioned forward-looking statements are made as of the date of this press release and, except as required by applicable securities legislation, MEMEX assumes no obligation to update publicly or revise these forward-looking statements to reflect subsequent information, events, or circumstances.

For investor inquiries please contact:

Ed Crymble, Chief Financial Officer
905-635-1540
investor.relations@memexOEE.com

David McPhail, President & CEO
905-635-1540
investor.relations@memexOEE.com

Sean Peasgood, Investor Relations
647-977-9264
sean@sophiccapital.com

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.

i & ii These non-IFRS financial measures are identified, defined and reconciled to their closest IFRS measures, revenue and unearned revenue, within our Management’s Discussion and Analysis for the periods ended March 31, 2018 and 2017, in the section “Other Financial Measures.” That MD&A is available at www.sedar.com under our company profile.

 

Click here to view: Memex-Q2 2018 MDA

Click here to view: Memex-Q2 2018 Financial Statements

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Memex Inc. Receives Over $1 Million in Aggregate Purchase Orders Since Mid-December

Includes $560,000 in New Business Since February 1

Burlington, ON, Canada – March 27, 2018 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, is pleased to announce that it has received approximately $560,000 in new purchase orders since February 1, 2018. An aggregate of six existing and four new customers make up these new purchase orders. This builds upon the previously announced $475,000 in purchase orders from mid-December through February 1, 2018, bringing the total purchase orders received since mid-December to over $1 million.

“In less than 100 days, we have generated more than $1 million in new purchase orders,” said MEMEX President and CEO David McPhail. “We’ve noticed an uptick in order flow and prospects due to changes in U.S. tax code, namely the lowering of corporate tax rates, the repeal of the alternative minimum tax, and immediate expensing of certain capital expenditures. As a result, we’re seeing manufacturers take advantage of these reforms to invest in IIoT solutions, and we anticipate follow-on orders to continue.”

In the fourth quarter of 2017, the National Association of Manufacturers Outlook Survey of 14,000 manufacturers found that industry optimism is at a 20-year high. Nearly 63% stated that      business tax reform would encourage their company to increase capital spending, and almost 58% said they would expand their businesses.

Allied Market Research forecasts that the $115 billion IIoT market of 2016 could grow to $197 billion by 2023 with manufacturing maintaining its leading position through the period. IDC sees a $189 billion market for manufacturing IoT with manufacturing operations and production asset management being focus areas.

MEMEX also announces that it has renewed its contract with Sophic Capital for capital markets services for one year. As part of these services, the Company has granted Sophic Capital 500,000 options at a $0.07 strike. The options will vest in equal tranches over a twelve-month period. 

About Memex Inc.:

Memex was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then Memex has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. Memex is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. Memex’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

Rashi Rathore, Marketing Manager

905-635-1540

investor.relations@memexOEE.com

 

David McPhail, President & CEO

905-635-1540

investor.relations@memexOEE.com

 

 

Sean Peasgood, Investor Relations

416-565-2801

sean@sophiccapital.com

 


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.

 

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Memex Inc. Announces Over $475,000 in Aggregate Orders

BURLINGTON, ON / ACCESSWIRE / February 1, 2018 / Memex Inc. (“MEMEX”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today announced that over the past 45 days it has received more than $475 thousand in new purchase orders. Three first-time clients contributed to these orders.

“We’re pleased that new and existing customers have seen the value provided by MEMEX’s MERLIN, Tempus,” said MEMEX CEO David McPhail. “We previously shared that we’re seeing increased interest in our IIoT centric data-driven manufacturing solutions, and this continues to be the case.”

SME and Modern Machine Shop Hosting MEMEX Webinars

On February 21st, 2018, at 2pm – 3pm EST, The Society of Manufacturing Engineers (SME) will host a webinar entitled “Data-Driven Manufacturing: A roadmap for achieving Operational Excellence.” To register for the webinar, please visit SME’s website at http://sme.advancedmanufacturing.org/r/AMM/d/resources

On March 7, 2018, at 2pm – 3pm EST, Modern Machine Shop will host a webinar entitled “Data-Driven Manufacturing: The Route to be a Top Shop.” To register for the webinar, please visit Modern Machine Shop’s website at https://www.smeresources.org/.

About MEMEX

MEMEX was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 percent. For more information, please visit: www.MemexOEE.com

Media Contact

Memex Inc.:
David McPhail, CEO
Phone: 519-993-1114
Email: David.McPhail@MemexOEE.com

Rashi Rathore, Marketing Manager
Phone: 905-635-3040 ext. 103
Email: Rashi.Rathore@MemexOEE.com

Investor Relations

Sean Peasgood, Investor Relations
Phone: 416-565-2805
Email: Sean@SophicCapital.com