Alphinat Announces a Profit of $160,597 for Fiscal Year Ended August 31, 2023

MONTREAL, QC / ACCESSWIRE / November 4, 2024 / Alphinat Inc. (TSXV:NPA.H) announces a unaudited profit of $160,597 for the fiscal year ended August 31, 2023.

During fiscal 2023, Alphinat has concentrated most of its commercial efforts on its partnerships and sales in the public sector. Furthermore, SmartGuide continues being used by federal government departments & agencies, state / provincial and municipal governments.

Our teams are involved in a variety of strategic projects with very short delivery delays, demonstrating the level of productivity that SmartGuide offers our clients and partners. At Alphinat, we are constantly looking for ways to enhance user experience and interoperability of client IT infrastructures.

SmartGuide allows the IT department to focus on the infrastructure, technical conventions, connections to existing systems and security while business subject matter experts expand on that foundation to convert their knowledge and know-how into citizen-centric online services. SmartGuide has many times demonstrated that it offers our clients and partners the lowest Total Cost of Ownership ("TCO") compared to custom coded solutions.

In order to accelerate future growth, Alphinat has six main areas of solution deliveries:

1. SmartGuide ® Grants and Contributions solution ( www.SmartGrants.ca ) was developed in conjunction with a federal department of the Canadian Government. This platform offers unparalleled productivity for federal, state and municipal clients creating calls for grants including financial program creations for applications, adjudication and payments;

2. SmartGuide ® Portal Edition for Dynamics 365¹ ( www.smartD365.com ) has optimize the way that clients can now create and deploy online services on top of Microsoft Dynamics 365 CRM solutions. This offering is available in SaaS mode as well as on-premises;

3. SmartGuide® Green House Gas Registry solutions ( www.SmartGHGR.ca ) is a green fintech solution allowing governments and industry to work together in reducing the harmful effects of greenhouse gas. Alphinat currently has three provincial clients for our SmartGHGR.ca solution;

4. SmartGuide® Claims solutions ( www.SmartClaims.ca ) was developed in conjunction with a major IT consulting partner, which aims at offering unparalleled productivity to federal, state and municipal clients for financial claims applications, adjudication and settlements for financial compensation and class action settlements;

5. SmartGuide ® CIVIC Portal, CIVIC Portal for Permits & Licensing ( www.PermitSmarter.ca ) and SmartGuide ® Municipal Cloud are Municipal Cloud and on-premises solutions front ending partner solutions and other digital services for improved user experience for both the cities and their citizens.

6. SmartProfile (www.smartprofile.ca) a secure Single Sign On solution is now a standalone solution, built on SmartGuide it provides industry leading flexible for full integration and end-user satisfaction.

During 2023, our R&D team has continued to improve SmartGuide and SmartGuide derivative products such as SmartProfile in order to support the growing ambitions of our clients and partners all while supporting our own strategic growth. We added class actions and financial claims automation processing to our repeatable solutions offerings and are marketing these solutions with an IT consulting partner.

The team delivers solutions to various federal, state / provincial agencies and municipalities across North America and Europe. In addition, the company continues to be involved in supporting its partners to ensure the delivery of solutions to government customers.

For the 12-month period ended August 31, 2023, the Company recorded unaudited total revenue of $1,480,227 compared to $1,651,704 for the same period in 2022. The net earnings for fiscal 2023 amount to $160,597 or $0.0025 per common share compared to net earnings of $112,751 or $0.002 per common share in fiscal 2022.

Alphinat's unaudited financial statements and Management's Discussion and Analysis for the period ending August 31, 2023 can be found on SEDAR, at www.sedar.com.

About Alphinat

At Alphinat, we are driven by the passion to make application development easy for everyone and system interoperability issues a thing of the past. We enable people with the vision of how a finished application should look and behave to be a major part of the development process. After all, what better way to ensure a favorable outcome than to provide those closest to an application's end-users with a vested interest in its success throughout its development?

That's why we bring you new ways to empower the right people at the right time in the application development process. At the same time, we're constantly working to reduce the need to code in order to make application development and maintenance simpler and less error prone.

So, whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps or engage us or one of our partners to do the work for you, we're here to help you deploy better applications in record time. Visit us at www.alphinat.com for more information. We look forward to hearing from you.

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regards to the Company's future performance constitute «forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward- looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company's capacity to increase acceptance of its products on the market, and to penetrate new markets; the potential existence of defects or undetected problems in the Company's products; the Company's ability to manage its growth; the Company's ability to compete with others; potential commitments; maintaining the Company's intellectual property rights and defending against litigation putting those rights in question; the Company's reliance on the knowledge of its key personnel; and the Company's access to sufficient capital to finance its future needs. This is a partial and non-exhaustive list of factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. The Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.

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.

For further information please contact:

Ms. Mahtab Abbasigaravand
Chief Executive Officer
Alphinat Inc.
(514) 398-9799

¹Dynamics 365 is a trademark of Microsoft Corporation

SOURCE: Alphinat, Inc.