[Podcast] Tackling Downtime and Inefficiencies with Software

Turning to software over paper reports does more than just save trees. Chris Mahar, Associate Editor of Manufacturing Engineering, talks with David McPhail, President and CEO of Memex Inc., about how manufacturers can utilize technology to improve efficiency, reduce downtime and boost productivity and profits across their business. Leveraging software to solve elusive waste in any facility.

Jergens Inc. Initiates a Plant-Wide Roll-Out of MERLIN Tempus

BURLINGTON, ON / ACCESSWIRE / November 6, 2019 / Memex Inc. (“MEMEX” or the “Company”) (TSXV:OEE) a leader in Industrial Internet of things (IIoT) manufacturing productivity software, announces that Jergens Inc. (“Jergens”) has purchased MERLIN Tempus Enterprise Edition for deployment in their Cleveland, Ohio facility. This order will see 11 machines integrated to Memex’s software platform in the first phase of what is anticipated to be a plant-wide adoption of MERLIN Tempus EE.

“Jergens is committed to a digital transformation strategy that will ensure we continue to produce the best workholding solutions, specialty fasteners and lifting products in the industry,” said Matt Schron, Jergens’ General Manager. “With the latest in IIoT software and hardware tools from MEMEX compiling and analysing our real-time production data, we will ensure our plant operates with optimum efficiency.”

“Continuous increasing adoption of MERLIN Tempus is a testament how valuable MERLIN Tempus is to the manufacturing sector and recognition of the tremendous benefits offered by MERLIN Tempus,” said David McPhail, CEO & President, MEMEX Inc. “Jergens is at the forefront of manufacturers adopting digital transformation strategies to optimize their operations, and MEMEX’s MERLIN Tempus fills the void of automating and accurately measuring overall equipment effectiveness. Our pipeline remains robust, and we are optimistic about our role and prospects as manufacturers undergo their Industry 4.0 transitions.”

About Jergens:

Since our founding Jergens has grown to comprise 3 distinct business units: Workholding Solutions, Lifting Solutions and Specialty Fasteners. Building on its reputation of uncompromising quality standards, Jergens is committed to helping its customers achieve leaner, more profitable manufacturing, and continues to add products and engineered solutions for an integrated approach to “Manufacturing Efficiency.”

Today, you’ll find our workholding, fasteners and hoist rings at work in just about every industry on every continent. And our innovative engineered solutions like the Ball Lock® Mounting System have changed the way manufacturers worldwide think about productivity.

Our US based manufacturing is headquartered right here in our 130,000 sq. ft. Cleveland, OH facility, guaranteeing you high quality, competitive pricing and immediate availability (or fast turnaround times on special items). We are a big user of our own products and can set up lean cells to accommodate lot sizes from 1 to 10,000, thanks to our own tooling components and engineered products like the Ball Lock® Mounting System. So, when it comes to lean manufacturing, we practice what we preach here at Jergens…Manufacturing Efficiency.

About MEMEX:

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 challenge’s 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 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

Forward-Looking Statement

The statement relating to the future delivery of products/services “…of what is anticipated to be a plant-wide adoption of MERLIN Tempus EE” is a forward-looking statement. However, there is no guarantee that any contemplated order will be placed or that if placed the Company could complete delivery. No forward-looking statements 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 statement is 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 this forward-looking statement to reflect subsequent information, events, or circumstances

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.

Primetals Technologies USA LLC Follow-On Purchase Order

BURLINGTON, ON / ACCESSWIRE / October 29, 2019 / Memex Inc. (“MEMEX” or the “Company”) (TSX-V:OEE) a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announces a follow-on Purchase Order from Primetals Technologies, a steel industry joint-venture between Mitsubishi Heavy Industries (MHI) and Siemens. The follow-on order is for a full plant roll-out of MERLIN Tempus Enterprise Edition at the company’s Sutton, MA facility over the next two years. Primetals Technologies has several additional plants, which may also see future MERLIN deployment after success with the current project. Primetals Technologies has been a customer of MEMEX since deploying its MERLIN DNC software back in 2017.

“We’re very pleased to expand our relationship with Primetals Technologies, a global provider of technology and services for the metals industry,” said David McPhail, CEO & President, MEMEX Inc. “Digital transformation of the steel industry (and manufacturing in general) is trending upwards as interest continues to grow for IIoT-centric, data-driven manufacturing solutions. We saw evidence of this in the record bookings we announced along with our third quarter financial results. MEMEX’s MERLIN Tempus has clearly demonstrated the ability to scale and uncover costly inefficiencies with both small and large manufacturers, and we look forward to demonstrating MERLIN’s expanded features not just to Primetals Technologies but to all of our valued customers and prospects.”

“Primetals Technologies is investing in a new state-of-the-art manufacturing plant in Sutton, MA, that will incorporate the latest in advanced technology including Industry 4.0 software and hardware tools from MEMEX,” said Bill Wheeler, Director of Operations. “We had a great experience when we initially adopted MEMEX’s MERLIN DNC software, which made choosing their IIoT product an easy decision for this expansion.”

About Primetals Technologies:

Primetals Technologies, Limited headquartered in London, United Kingdom is a worldwide leading engineering, plant-building and lifecycle services partner for the metals industry. The company offers a complete technology, product and service portfolio that includes integrated electrics, automation, digitalization and environmental solutions. This covers every step of the iron and steel production chain, extending from the raw materials to the finished product – in addition to the latest rolling solutions for the nonferrous metals sector. Primetals Technologies is a joint venture of Mitsubishi Heavy Industries (MHI) and Siemens. Mitsubishi-Hitachi Metals Machinery (MHMM) – an MHI consolidated group company with equity participation by Hitachi, Ltd. and the IHI Corporation – holds a 51% stake and Siemens a 49% stake in the joint venture. The company employs around 7,000 employees worldwide. Further information is available on the Internet at www.primetals.com.

About MEMEX:

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 challenge’s 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 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

Forward-Looking Statement

The statement relating to the future delivery of products/services “Primetals Technologies has several additional plants which may also see future MERLIN deployment after success with the current project” is a forward-looking statement. However, there is no guarantee that any contemplated order will be placed or that if placed the Company could complete delivery. No forward-looking statements 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 statement is 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 this forward-looking statement to reflect subsequent information, events, or circumstances

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.

Canadian Made – Usinatech Adopts MEMEX’s MERLIN Tempus

Burlington, ON, Canada – October 16, 2019 – Memex Inc. (“MEMEX” or the “Company”) (TSXV: OEE) a leader in Industrial Internet of things (IIoT) manufacturing productivity software, announces the installation of MERLIN Tempus Enterprise Edition platform and the integration of 40 manufacturing machines at Usinatech Inc.’s manufacturing facility in Melbourne, Quebec. Success with this initial implementation could see Usinatech, a world-class precision metal parts machining and manufacturing company, connect additional machines in Canada as well as deploy MERLIN to its Mexican operations.

“Although MEMEX is proudly Canadian, the Company has continuously generated the majority of its revenue through clientele in the United States,” said David McPhail, CEO & President, MEMEX Inc. “This is MEMEX’s largest Canadian installation project since going public in 2013, and we’re confident that Usinatech’s adoption of MERLIN Tempus will provide an efficiency advantage as they compete in the global market. We’re proud to contribute to a Canadian, data-driven manufacturing success story.”

“Usinatech has a history in applying the most advanced manufacturing techniques to produce the best machined parts in the industry,” said Usinatech President, Rudy Pelletier. “We are now embarking on a digital transformation strategy with the latest in advanced technology including the implementation of Industry 4.0 software and hardware tools from MEMEX. For us this will mean a digitally connected plant with real-time information and analytics to ensure our plant operates at optimum efficiency.”

About Usinatech Inc.:

Usinatech is a world-class precision metal parts machining and manufacturing company. With five integrated, high efficiency plants in Canada and Mexico, Usinatech has been providing precise answers for Sports RV, Aerospace, Automotive, Defense and Agricultural Equipment since 1986. Known for excellence in high volume, high quality production of complex parts and assemblies, we believe in investing in our people and in the best technology to get the best answers for our clients.

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 challenge’s 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 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

Forward-Looking Statement

The statement relating to the future delivery of products/services “…could see Usinatech, a world-class precision metal parts machining and manufacturing company, connect additional machines in Canada as well as deploy MERLIN to its Mexican operations” is a forward-looking statement. However, there is no guarantee that the contemplated order will be placed or that if placed the Company could complete delivery. No forward-looking statements 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 statement is 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 this forward-looking statement to reflect subsequent information, events, or circumstances

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.

MEMEX closed for Thanksgiving

MEMEX will be closed on Monday, 14th October 2019 to observe Thanksgiving

Normal hours will resume Tuesday, 15th October 2019

MEMEX Extends Auto industry Penetration

Burlington, ON, Canada – October 10, 2019 – Memex Inc. (“MEMEX” or the “Company”) (TSXV: OEE), a global leader in Industrial Internet of things (IIoT) manufacturing productivity software, announces that a truck parts facility of a top 15 global vehicle manufacturer has licensed MEMEX’s MERLIN Tempus Enterprise Edition. This order extends MEMEX’s reach in the automotive manufacturing industry and is the Company’s largest order in the sector following a deployment with a wholly owned R&D subsidiary of a big 3 automotive manufacturer earlier this year.

“This client plans to showcase MERLIN’s capabilities in two separate plants – one in North Carolina and one in Mexico – and positive results could turn this order into full plant roll-outs at both facilities,” said David McPhail, CEO & President, MEMEX Inc. “Historically, we have concentrated the majority of our sales efforts within the aerospace and defence industry; and by leveraging these client’s results and ROI, we were able to sign this deal in what has been a difficult sector for externally developed data-driven manufacturing solution providers to penetrate. A clear example of an auto manufacturer choosing to focus on their core manufacturing capabilities rather than developing a software solution in-house.”

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 that 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 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

Forward-Looking Statement

The statement relating to the future delivery of products/services “…positive results could turn this order into full plant rollouts at both facilities” is a forward-looking statement. However, there is no guarantee that the contemplated order will be placed or that if placed the Company could complete delivery. No forward-looking statements 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 statement is 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 this forward-looking statement to reflect subsequent information, events, or circumstances

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.

Memex Inc. Reports Q3-2019 Results Record Quarterly, YTD Bookings & YTD Revenue Reported

Burlington, ON, Canada – August 29, 2019 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released financial and operational highlights for its third quarter of 2019 ending June 30, 2019. All results are reported in Canadian dollars. A complete set of June 30, 2019 Consolidated Financial Statements and Management’s Discussion & Analysis has been filed at www.sedar.com.

Summary financial highlights for the three-months ended June 30, 2019:

  • Memex reported revenue of $916 thousand for the three-month period, as compared to $650 thousand in the same period a year ago (a 41% increase);
  • Bookingsi for the period totalled $1.094 million, a new quarterly high, versus $1.039 million in the same period a year ago, a 5% increase;
  • The Company finished the period with $1.567 million in project backlogii, $467 thousand more than at September 30, 2018;
  • Gross margin was 74% for the period compared to 64% for the year-ago period;
  • Cash consumed from operations in Q3-2019 (before changes in non-cash items) was $184 thousand, equating to $426 thousand or 70% less consumed than the same period a year ago;
  • Net and comprehensive loss for the period was $254 thousand ($0.002 per share), compared to $687 thousand ($0.005 per share) for the same period a year ago; and
  • The Company had $501 thousand in working capital, including $967 thousand in cash at June 30, 2019, as compared with $723 thousand in working capital and $1.048 million in cash at September 30, 2018.

Operational and other highlights:

  • The Company’s Q3 bookings of $1.094 million set a new benchmark, exceeding the Company’s previous record of $1.042 million recorded in Q1 this year. Reported year-to-date bookings of $2.980 million was also Company best nine-month start to a year, exceeding the prior benchmark by over $375 thousand.
  • Year-to-date revenue of $2.319 million was a nine-month best, exceeding the previous high by more than $200 thousand.
  • The Company finalized a collection of new customer orders worth over $300 thousand in total from a Tier 1 Automotive supplier during the quarter. Although successful in a variety of manufacturing sectors, the orders with this customer represents Memex’s largest foray into the Auto sector thus far.
  • Through fiscal 2019, Memex has focused on converting previously generated customer leads into sales. Year-to-date results reflect that conversion success, and also provided a $172 thousand reduction in YTD marketing spend. Reduced attendance at tradeshows in favour of lower cost on-line marketing campaigns and thought leadership events were key factors, although the Company will be attending the Canadian Manufacturing Trade Show (“CMTS”) in Mississauga this September.

Management commentary:

“Our success in converting sales funnel prospects into revenues is demonstrated by our record bookings, 31% year-to-date revenue growth over 2018, and backlog worth almost $1.6 million,” said Memex CEO David McPhail. “I am pleased that our focus on re-tooling our sales process has paid off and yielded these results.  Looking ahead we have good visibility on a growing funnel of new business opportunities and anticipate several new orders to close in the coming quarters.”

Summary financial highlights for the nine-months ended June 30, 2019:

  • Memex reported revenue of $2.319 million for the nine-month period, a new nine-month high, as compared to $1.776 million in the same period a year ago (a 31% increase);
  • Bookingsi for the period totalled $2.980 million – a record nine-month start for the Company, versus $2.331 million in the same period a year ago, a 28% increase;
  • Year-to-date (YTD) Gross margin was 71% compared to 63% for the year-ago period;
  • Cash consumed from operations in YTD-2019 (before changes in non-cash items) was $751 thousand, equating to $1.176 million or 61% less consumed than the same period a year ago; and
  • YTD Net and comprehensive loss was $934 thousand ($0.007 per share), compared to $2.183 million ($0.016 per share) loss for the same period a year ago.

Selected financial information:

   

Three-months periods ended

June 30

 

   

Nine-months periods ended

June 30

 

(Canadian dollars – in thousands except per share and margin%) 2019 2018 Change  

 

2019 2018 Change
Revenue 916 650 +    41%   2,319 1,776 +    31%
Bookingsi 1,094 1,039 +      5%   2,980 2,331 +    28%
Gross margin % 74.3 63.7 +    17%   71.4 62.6 +    14%
Operating expenses 889 1,088      18%   2,520 3,256      23%
Cash utilized in operating activities1 184 610     70%   751 1,927     61%
Net and comprehensive loss for the period 254 687     63%   934 2,183     57%
Basic and diluted loss per share – period (0.002) (0.005)     59%   (0.007) (0.016)     57%
  1. Before changes in non-cash working capital balances.

 

 

 

As at

(Canadian dollars – in thousands except WC ratio)

 

June 30,  2019 September 30, 2018  

 

       
Cash on hand 967 1,048          
Current assets 2,185 1,964          
Total assets 2,491 2,319          
Current liabilities 1,684 1,241          
Working capital* 501 723          
Working capital ratio** 1.3 to 1 1.58 to 1          
Backlogii 1,567 1,100          

*   Working Capital = current assets – current liabilities

**  Working Capital ratio = current assets / current liabilities

 

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 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 June 30, 2019 and 2018, in the section “Other Financial Measures.”  That MD&A is available at www.sedar.com under our company profile.

Memex Inc. Joins Siemens’ MindSphere Partner Program

Wednesday, June 5, 2019 7:00 AM

Burlington, ON, Canada – June 05, 2019 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today announced that the Company has joined Siemens’ MindSphere Partner Program as a Silver Partner. The MindSphere Partner Program is Siemens’ partner program for Industrial IoT (Internet of Things) solution and technology providers. As a Silver Partner, Memex can work to accelerate the adoption of Industry 4.0 in industrial enterprises leveraging MindSphere.

MindSphere® is the cloud-based, open IoT operating system from Siemens that connects products, plants, systems and machines, enabling businesses to harness the wealth of data generated by the IoT with advanced analytics.

This partnership will enable MindSphere customers to use MERLIN Tempus™ to connect their machines and physical infrastructure to the digital world and translate the wealth of data they produce into business results. MERLIN Tempus, an award-winning Data-Driven Manufacturing MES platform, is an integral launchpad into the IIoT/Industry 4.0 universe that connects and embraces an array of factory-floor devices. It is highly scalable for all operations and manufacturing genres and requires zero programming or custom integration. The MERLIN Tempus easy-to-read visual dashboards are web-enabled and user configurable. They provide actionable information via reports for machine operators, factory managers, engineers, production managers, continuous improvement managers, and senior management. The comprehensive dataset from real-time eventing, job related processing and process data that the MERLIN Tempus application can capture will help them increase productivity and efficiency across their business.

MERLIN Tempus is expected to be available as a MindSphere application in June 2019. The latency problems experienced by many cloud solutions is virtually eliminated by the deployment of a MERLIN Tempus Gateway server which also provides store and forward capability in the event of internet disruption. MERLIN Tempus incorporates a full featured Operator Portal alongside the automated data collection to ensure comprehensive identification of machine and operation states, part non-conformity, checklists, job information, maintenance events and sixteen critical KPIs applied to machine, operator, jobs, shifts and dates. This rich dataset enables MindSphere users to employ other MindSphere ecosystem applications to further drive machine learning, advanced analytics and predictive algorithms.

Management commentary:

“We are pleased with our mutually beneficial relationship with Siemens,” said Memex CEO David McPhail, “and we are confident that our MES platform will provide a rich experience through both MERLIN Tempus directly and through the data collected by MERLIN Tempus feeding into any MindSphere application within the MindSphere ecosystem.” Mr. McPhail went on to comment, “this relationship benefits from almost a decade of real-world successful deployments of MERLIN Tempus and its predecessor product.”

“Together with Memex, now a partner in the MindSphere ecosystem, we can help manufacturers realize the benefits of digital transformation with Industrial IoT,” said Florian Beil, Head of Sales for MindSphere at Siemens PLM Software. “Memex’s solution can empower our joint customers with real-time actionable shop floor information, enabling them to achieve increased productivity and profitability.”

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

Note: A list of relevant Siemens trademarks can be found here.

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

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.