(TheNewswire)
Calgary, Alberta – TheNewswire - December 1, 2021 - nDatalyze Corp. (“NDAT” or the “Corporation”) (CSE:NDAT) (CNSX:NDAT.CN) is pleased to provide an update to its operations:
Reference Database ("RD") – our proprietary core asset. Data collection is now complete at >1250 records, each with EEG data and covering four age groups and two genders. The final small tranche of records (~50) will soon be loaded into the RD whereafter it will be available for licensing to researchers and application developers. This level and consistency of coverage provides for calculation of baselines that are a foundation of predictive probability analysis. In addition to baseline calculations, the RD includes hundreds of doctor-diagnosed mental conditions from numerous clinicians that may be used to assist prediction of the effects of drugs on persons with specified biometric/EEG signatures.
YMI - our consumer mHealth application consists of the RD, proprietary scoring algorithms from our Digital Mind Collective, the back-end, cloud-based, SQL and machine-learning ("ML") platform, the front-end graphical user interface, and a credit card payment system. The questionnaires, credit card payment system, front end interface, and frontend-to-backend communication protocols have now been tested and the ML supervision algorithms are now in testing/calibration. It is expected that the ability to accept a variety of cryptocurrencies as payment will be incorporated in the near future. Initial predictive testing has been encouraging and the beta system is expected to be open for pre-release registration and public comment prior to year-end, 2021. The version 1 release will address multiple (up to 10) common mental conditions with physical condition predictions expected later in 2022. Mental conditions are believed to offer the highest value and are being addressed first.
Marketing - the marketing research plan is in progress and is expected to be implemented during the YMI beta release. This plan is designed to provide feedback as to desired system presentation/functionality, marketing approach, market demographics and pricing. Plan completion is scheduled for Jan 31, 2022. The combination of the marketing research plan results and the public beta comments is designed to allow finalization of the YMI configuration before general public release, expected in early calendar Q1, 2022.
Financial position - nDatalyze Corp. exited Q3 (November 30) with ~$1.5 million in cash and no debt. Tight cash control continues.
James Durward, President, states: "Building complex systems like this from scratch is an intense and daunting task. Having to deal with over 1200 participants in just eight months while gathering EEG data during a limited 3 hour window per day is a testament to our project management and the dedication and work ethic of our data collection personnel; I thank them all for their outstanding effort. The same can be said for our machine-learning and interface development programmers who continue to work within our "tiger-team" approach to generate accelerated results at lower costs. I believe that had we engaged an outside contractor the costs would have been far higher and it would have taken far longer. I further believe that our ability to perform these functions internally has added significant value for our shareholders."
Extractor division – both CO2-based and alcohol-based extractors continue to contribute cash flow but sales are slower due to a variety of factors beyond our control. We believe that lack of US federal legalization is the cause of Google materially restricting our online advertising campaigns which has resulted in lower website traffic and slower sales. We also believe that the general covid malaise is a contributing factor. We are trying different approaches to mitigate these effects.
About nDatalyze Corp.:
nDatalyze Corp. generates technology-based, health-related solutions. The YMI division is developing a machine-learning based, online consumer mental health (“mHealth”) application and the MLdelic division is focusing on applying machine-learning to assist in the prediction of potential benefits associated with the use of entheogenic compounds within the mental health sector. Both YMI and MLdelic are based on the Corporation's proprietary Reference Database consisting of >1250 biometric records that include "same-time-of-day" EEG data. With installations worldwide, its Medxtractor division manufactures and sells small-scale bio-extractors that are used to extract compounds from a variety of botanical biomasses. While the Medxtractor division is currently generating cash flow, both YMI and MLdelic are in development and accordingly the Corporation cannot confidently predict if or when these applications will become cash flow generators.
FOR FURTHER INFORMATION, PLEASE CONTACT:
nDatalyze Corp.
James Durward, President and CEO
Telephone: (403) 689-3901
Email: jimd@ndatalyze.com
Website: www.ndatalyze.com
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Asian and international medical products market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of hemp and hemp-related products in Asia and elsewhere; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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