Company has received payments of CDN $425,000 from clients from Jan 1, 2024 - March 31, 2024
Company has invoiced clients for CDN $860,000 from Jan 1, 2024 - March 31, 2024
TORONTO, ON / ACCESSWIRE / April 11, 2024 / Deepspatial Inc. (CSE:DSAI)(OTCQB:DSAIF) ("DeepspatialAI" or the "Company"), an outcome-based artificial intelligence company, enabling organizations to enhance their decision-making capabilities by leveraging the power of data and AI, is proud to announce a significant milestone in its financial growth and market presence for the first quarter of 2024. Between January 1 and March 31, 2024, the Company has received a total of CDN$425,000 in payments from clients for the contracts awarded, demonstrating a significant leap in the Company's financial strength and market trust.
Furthermore, the Company has successfully invoiced CDN$860,000 for its innovative solutions during this period, signaling a robust demand for its state-of-the-art AI-driven offerings. These financial achievements underscore Deepspatial AI's pivotal turning point in its operational success and financial stability.
A Pivotal Milestone in Deepspatial AI's Journey
"We are witnessing a remarkable period in our journey," said Dr. Rahul Kushwah, CEO of Deepspatial AI. "The financial highlights of the first calendar quarter of 2024 (our 3rd quarter) reflect not just our ability to attract significant contracts but also our clients' confidence in our technology and our team's dedication. It's a clear indication of our market position and the effectiveness of our solutions in delivering impactful results."
Strategic Expansion through Advanced Sales Pipeline
Deepspatial AI continues to strengthen its market position with an advanced sales pipeline that includes significant government contracts across multiple verticals. These upcoming announcements are set to further solidify the Company's reputation and footprint in the AI and GIS sectors.
"Our advanced sales pipeline, especially with the inclusion of government contracts, marks a strategic expansion of our services and solutions," added Kushwah. "It demonstrates the versatility and reliability of our AI technologies in meeting the diverse needs of both public and private sectors. We are excited about the opportunities ahead and are committed to sustaining this momentum."
About Deepspatial Inc.
Deepspatial is an outcome based artificial intelligence company, enabling organizations to enhance their decision-making capabilities by leveraging the power of data and AI. From finding the most efficient supply chain routes to knowing where to develop next, Deepspatial'sAI-driven platform enables its clients to visualize what's going on, predict what's coming, analyze data, and optimize processes to make smarter decisions for a better future. For more information, visit www.Deepspatial.ai and follow us on Twitter, Instagram or LinkedIn.
Caution regarding Forward Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19;risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.
Contacts
For more information, please contact:
Investor Relations
Corey Matthews
Investors@deepspatial.ai
Chief Exeuctive Officer
Dr. Rahul Kushwah
Rahul@deepspatial.ai
Tel: (877) 475-1538
SOURCE: DeepSpatial Inc.
View the original press release on accesswire.com
