Carl Data Solutions releases AGSM and Q1 – 2022 results as it readies new environmental monitoring products
VANCOUVER, BC, Nov. 29, 2021 – Carl Data Solutions Inc. (CSE:CRL, FSE:7C5, OTC:CDTAF) (“Carl Data Solutions” or the “Company”) is a leader in predictive analytics that leverage Artificial Intelligence and Machine Learning for compliance-driven Environmental Monitoring as a Service (“EMaaS”) and Smart City applications. Today the Company released the results of its Annual General and Special Meeting (“AGSM”) of shareholders held November, 24 along with financial results and operational highlights for its Q1 – 2022 quarter ended September 30, 2021.
Carl Data Solutions serves municipal and industrial infrastructure customers including the cities of Boston, Seattle and Toronto and mining giant Teck Resources Ltd. It also sells its solutions through engineering services integration partners like Kerr Wood Leidal Associates Ltd. and AECOM.
At its AGSM, Carl Data Solutions announced and demonstrated new products that build upon the Company’s existing FlowWorks real-time reporting and analytics software for municipal and industrial and infrastructure. These products are supplemented with intellectual property developed during Carl Data Solutions’ two-year engagement leading the Fresh Water Data Commons project for Canada’s Digital Technology Supercluster.
Currently being Beta-tested with large enterprise infrastructure customers across North America, the new products will be launched commercially over the course of 2022. They are:
EMaaS: EMaaS is Carl Data Solutions’ most advanced technology platform required by Smart City and industrial applications desiring the foresight of predictive analytics to protect compliance-driven infrastructure operations.
Driven by time-series data that is essential to understanding statistical anomalies, the Company’s EMaaS solution will be deployed to monitor environmental changes that affect critical infrastructure. EMaaS fuses on-site sensor-driven data with a myriad of third-party atmospheric, seismic and geographic data streams.
Auto QA/QC: Auto QA/QC is Carl Data Solutions’ latest Machine Learning (ML) technology for automatically cleaning and performing Quality Assurance (QA) and Quality Control (QC) on time-series data derived from sensors.
The automation aspect of Auto QA/QC detects and prevents bad sensor data from generating results or triggering alerts. At the same time, Auto QA/QC flags legitimate data anomalies that may require further investigation by infrastructure engineers.
Auto I&I: Auto I&I is Carl Data Solutions’ newest technology for Inflow & Infiltration required by municipal water treatment plants. Auto I&I detects storm events that match defined rainfall criteria.
Auto I&I also capitalizes on Auto QA/QC to prevent bad sensor data from distorting results. By automating I&I data gathering and reports, municipal water treatment engineers will quickly see which areas of their systems are most impacted by a storm event, and visualize real-time I&I metrics on a Geographic Information System (GIS) map.
AGSM results
- All proposed resolutions were passed at the Company’s Annual General and Special Meeting of shareholders.
- Jean Charles Phaneuf, Chris Johnston, Rick Sanderson, Kevin Ma and Vikas Ranjan were all re-elected as Directors of the Company.
- The Company adopted a new 20% rolling option plan to replace the previous 10% rolling plan.
- Baker Tilly WM LLP was re-appointed as auditor of the Company for the ensuing year.
Financial highlights for Q1 – 2022 ended September 30, 2021
- The Company recognized a Comprehensive Loss of $687,152 in Q1 – 2022, down from $1,078,080 in Q4 – 2021.
- The Company recognized Revenue of $380,970 in Q1 – 2022, down from $539,942 in Q4 – 2021.
- The Company’s Loans and Debentures totalled $506,899 in Q1 – 2022, up slightly from $503,577 in Q4 – 2021.
- Cash on Hand of $2,066,322 in Q1 – 2022 is down from $2,903,056 in Q4 – 2021. The Company estimates it has enough Cash on Hand to fund operations at current levels for a minimum of 1.5 years based on projected expenditures.
Operational highlights for Q1 – 2022
- On August 11, the Company announced CEO Jean Charles Phaneuf was appointed to the Board of Directors, replacing Greg Johnston. Johnston remains with the Company as its President and will take on roles in product evangelism, product management advisory and strategic business development.
- On August 11, Phaneuf also announced plans for a simplified corporate structure, working towards a single operating entity with an associated reporting structure led by the Company’s management team. The objective of the simplified structure is faster time to market on new products as well as more rapid progress on business development, sales and revenue results.
- On September 7, the Company announced it had added sales leadership talent with the addition of David Daniels as Vice President Environmental Monitoring as a Service (EMaaS) Sales. Daniels is a proven large enterprise solution executive with previous experience in senior roles at Microsoft Canada and Gartner.
Management commentary
Carl Data Solutions’ CEO Jean Charles Phaneuf stated, “In Q1 – 2022, our sales revenue reflected the previous quarter’s conclusion of our two-year engagement leading the Fresh Water Data Commons project for Canada’s Digital Technology Supercluster.”
He continued, “We progressed on our technology products build-out based on intellectual property created during the Supercluster project, streamlined our operational structure and added large enterprise sales strength to our business development team. As we undertook these initiatives we prudently managed cash to ensure the Company has ample resources to launch and create a new revenue stream from environmental monitoring products recently announced to go to market in 2022.”
About Carl Data Solutions Inc.
Carl Data Solutions Inc. is a leader in predictive analytics that leverage Artificial Intelligence (AI) and Machine Learning (ML) for compliance-driven Environmental Monitoring as a Service (EMaaS) and Smart City applications. Carl Data Solutions, through its subsidiaries Astra Smart Systems Corp. and FlowWorks Inc., helps clients analyze and model environmental data through a powerful end-to-end network of custom sensor arrays combined with SaaS based monitoring, reporting, and predictive modelling applications. Carl Data Solutions works with new cloud-based mass storage services and ML/AI analytical tools to provide the scalability required to effectively monitor very large amounts of data collected by both government and industry. The Company’s software suite saves clients time and money by aggregating information from any sensor or source to create a real-time decision support system with deep insights into how to protect infrastructure and assets. More information can be found at www.CarlSolutions.com.
For more information, please contact:
Nathan Rudyk
Director, Corporate Communications
+1 778 200 2093
Carl Data Solutions Inc.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on certain key expectations and assumptions made by the management of Carl Data Solutions, including the expectation of future higher growth. Although the Corporation believes that the expectations and assumptions upon which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can provide no assurance that they will prove to be correct. Any forward-looking statements contained in this press release are made as of the date of this press release. The Corporation disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
