Memex Inc. Receives Over $1 Million in Aggregate Purchase Orders Since Mid-December

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Includes $560,000 in New Business Since February 1

Burlington, ON, Canada – March 27, 2018 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, is pleased to announce that it has received approximately $560,000 in new purchase orders since February 1, 2018. An aggregate of six existing and four new customers make up these new purchase orders. This builds upon the previously announced $475,000 in purchase orders from mid-December through February 1, 2018, bringing the total purchase orders received since mid-December to over $1 million.

“In less than 100 days, we have generated more than $1 million in new purchase orders,” said MEMEX President and CEO David McPhail. “We’ve noticed an uptick in order flow and prospects due to changes in U.S. tax code, namely the lowering of corporate tax rates, the repeal of the alternative minimum tax, and immediate expensing of certain capital expenditures. As a result, we’re seeing manufacturers take advantage of these reforms to invest in IIoT solutions, and we anticipate follow-on orders to continue.”

In the fourth quarter of 2017, the National Association of Manufacturers Outlook Survey of 14,000 manufacturers found that industry optimism is at a 20-year high. Nearly 63% stated that      business tax reform would encourage their company to increase capital spending, and almost 58% said they would expand their businesses.

Allied Market Research forecasts that the $115 billion IIoT market of 2016 could grow to $197 billion by 2023 with manufacturing maintaining its leading position through the period. IDC sees a $189 billion market for manufacturing IoT with manufacturing operations and production asset management being focus areas.

MEMEX also announces that it has renewed its contract with Sophic Capital for capital markets services for one year. As part of these services, the Company has granted Sophic Capital 500,000 options at a $0.07 strike. The options will vest in equal tranches over a twelve-month period. 

About Memex Inc.:

Memex was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then Memex has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. Memex is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. Memex’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com

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

416-565-2801

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.

 

Memex Inc. Announces Over $475,000 in Aggregate Orders

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BURLINGTON, ON / ACCESSWIRE / February 1, 2018 / Memex Inc. (“MEMEX”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today announced that over the past 45 days it has received more than $475 thousand in new purchase orders. Three first-time clients contributed to these orders.

“We’re pleased that new and existing customers have seen the value provided by MEMEX’s MERLIN, Tempus,” said MEMEX CEO David McPhail. “We previously shared that we’re seeing increased interest in our IIoT centric data-driven manufacturing solutions, and this continues to be the case.”

SME and Modern Machine Shop Hosting MEMEX Webinars

On February 21st, 2018, at 2pm – 3pm EST, The Society of Manufacturing Engineers (SME) will host a webinar entitled “Data-Driven Manufacturing: A roadmap for achieving Operational Excellence.” To register for the webinar, please visit SME’s website at http://sme.advancedmanufacturing.org/r/AMM/d/resources

On March 7, 2018, at 2pm – 3pm EST, Modern Machine Shop will host a webinar entitled “Data-Driven Manufacturing: The Route to be a Top Shop.” To register for the webinar, please visit Modern Machine Shop’s website at https://www.mmsonline.com/webinars.

About MEMEX

MEMEX was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 percent. For more information, please visit: www.MemexOEE.com

Media Contact

Memex Inc.:
David McPhail, CEO
Phone: 519-993-1114
Email: David.McPhail@MemexOEE.com

Rashi Rathore, Marketing Manager
Phone: 905-635-3040 ext. 103
Email: Rashi.Rathore@MemexOEE.com

Investor Relations

Sean Peasgood, Investor Relations
Phone: 416-565-2805
Email: Sean@SophicCapital.com

Memex Inc. Releases Annual Financial Results

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BURLINGTON, ON / ACCESSWIRE / January 16, 2018 / Memex Inc. (”Memex” or the ”Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its annual financial and operational highlights for its fiscal year ended September 30, 2017. All results are reported in Canadian dollars.

Summary Financial Highlights for the Year Ended September 30, 2017:

  • Memex reported a $3.98 million net and comprehensive loss for the year ended September 30, 2017 on $2.01 million in revenue equating to a $0.034 loss per share. This compares with a $2.81 million net and comprehensive loss on $2.91 million in total revenue for the year ended September 30, 2016, and a $0.028 loss per share;
  • Bookingsi for the year totalled $2.37 million versus $3.42 million a year ago;
  • Backlogii at September 30, 2017 was $1.31 million, up $464 thousand from $848 thousand a year ago;
  • Gross margin percentage for the fiscal year was 55.4%, down from the 66.2% last year;
  • Cash consumed from operating activities (before changes in working capital balances) was $3.69 million for the year, up $969 thousand from $2.72 million a year ago; and
  • The Company had $2.79 million in working capital including $3.46 million in cash at year end, relative to $3.11 million in working capital and $2.90 million in cash at the end of fiscal 2016.

Management Commentary:

”Fiscal 2017 was a challenging year for Memex,” said President and CEO David McPhail. ”Uncertainty surrounding the tax policy during the U.S. election extended well into mid-2017 for our targeted customers. Our sales ramp through the back half of 2017 was slower than anticipated. Although I am disappointed with our results, we continue to get positive feedback from our customers around MERLIN’s value proposition and feature set. As the largest shareholder, I remain confident in the positioning of our product, the significant funnel of interested customers and can assure you we are working to turn around our financial performance in 2018. I would like to thank our loyal shareholder base over the last year as we worked through the more challenging than anticipated market conditions.”

2017 Fiscal Year End Operational Highlights:

  • The Company successfully closed an equity financing for more than $2.85 million in (gross) proceeds through the sale of 17.8 million units at $0.16 (a share and half warrant) on September 26, 2017;
  • In Q3 the Company secured its largest ever single-customer project, SEW Eurodrive, worth more than $450 thousand dollars for a plant-wide MERLIN implementation at one of this customer’s locations; and
  • The Company restructured its sales management and delivery procedures during the year, including hiring a VP of Sales and the adoption of SalesForce to better mine Memex’s existing U.S. Pipeline, develop new markets and growth opportunities and to better monitor the Company’s sales development activities.

Summary Financial Highlights for the Fourth Quarter Ended September 30, 2017:

  • Memex reported revenue of $626 thousand, 22% lower than the same quarter a year ago;
  • Gross margin of 66.4% was down from 71.9% reported the same quarter a year ago;
  • Bookings[i] for the quarter were $364 thousand (net of a $129 thousand lost order), down 55% from the same quarter a year ago; and
  • Memex reported a net and comprehensive loss of $881 thousand for the quarter, equating to a $0.008 loss per share. This compares with a $726 thousand net and comprehensive loss in Q4 last year, and a $0.007 loss per share.

Selected Financial Information:

 

Three-months period ended

September 30

 

  

Year ended

September 30

 
(Canadian dollars – in thousands except per share and margin%) 2017 2016 Change  

 

 2017 2016 Change
Revenue 625 806 –    22% 2,008 2,910 –    31%
Bookingsi 364 811 –   55% 2,370 3,416 –    31%
Gross margin % 66.4 71.9 55.4 66.2
Operating expenses 1,284 1,296 –     1% 5,083 4,867 +      4%
Cash utilized in operating activities1 779 659 +  18% 3,389 2,720 +    36%
Net and comprehensive loss for the period (881) (726) +  21% (3,984) (2,805) +    42%
Basic and diluted loss per share – period (0.008) (0.007) +  15% (0.034) (0.028) +    24%
  1. Before changes in non-cash working capital balances.
 

As at

(Canadian dollars – in thousands except WC ratio)

 

 September 30, 2017 September 30, 2016  

 
Cash on hand 3,458 2,899
Current assets 4,104 4,156
Total assets 4,522 4,639
Current liabilities 1,313 1,047
Working capital* 2,791 3,109
Working capital ratio** 3.13 to 1 3.97 to 1
Backlogii 1,311 848

*   Working Capital = current assets – current liabilities

**  Working Capital ratio = current assets / current liabilities

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 September 30, 2017 and 2016, in the section “Other Financial Measures.”  That MD&A is available at www.sedar.com under our company profile.

About Memex Inc.:

Memex was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then Memex has proved itself a pioneer in IIoT time and again. The company is committed to its mission of ”successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. Memex is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. Memex’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 percent. For more information, please visit: www.MemexOEE.com

For investor inquiries, please contact:

Ed Crymble, Chief Financial Officer
905-331-4343
ed.crymble@MemexOEE.com

David McPhail, President & CEO
519-993-1114
david.mcphail@MemexOEE.com

Sean Peasgood, Investor Relations
416-565-2801
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) accept responsibility for the adequacy or accuracy of this release.

Click here to view: MEMEX Q4 Year End 2017 MDA

Click here to view: MEMEX Q4 30Sep2017 Financial Statements 

 

MEMEX @ FABTECH

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FABTECH is North America’s largest metal forming, fabricating, welding and finishing event with over 50,000 attendees and 1,700 exhibiting companies. FABTECH provides a convenient ‘one stop shop’ venue where you can meet with world-class suppliers, see the latest industry products and developments, and find the tools to improve productivity, increase profits and discover new solutions to all of your metal forming, fabricating, welding and finishing needs.

MEMEX will be demonstrating the MERLIN Tempus platform, talking about improving Overall Equipment Effectiveness (OEE) and answering your questions about Data-Driven Manufacturing.

Date: November 6-9, 2017

Location: Booth C41526, McCormick Place, Chicago, IL USA

Learn more & Register Now

MEMEX @ SOUTH-TEC

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SOUTH-TEC 2017 is designed to give manufacturers the means to discover and acquire the tools needed to drive the next evolution of their industry. SOUTH-TEC creates a greater opportunity to engage first-hand with world-class suppliers and identify solutions needed – from development to final production.

CEO of MEMEX, David McPhail, will be presenting in SME’s Smart Manufacturing Hub.

MEMEX will be demonstrating the MERLIN Tempus platform, talking about improving Overall Equipment Effectiveness (OEE) and answering your questions about Data-Driven Manufacturing.

Date: October 24-26, 2017

Location: Booth 1932 & Smart Manufacturing Hub,

TD Convention Center, Greenville, South Carolina

Learn More & Register Now

Memex Inc. Participating at SOUTH-TEC & the NTMA Fall Conference

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BURLINGTON, ON / ACCESSWIRE / October 12, 2017 / Memex Inc. (”MEMEX”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today announced that it will be presenting the Company’s Data-Driven Manufacturing vision to SOUTH-TEC attendees in Greensville, South Carolina, from October 24 through 26, 2017 at SME’s Smart Manufacturing Hub, as well as exhibiting at booth number 1932.

Additionally, MEMEX will be participating at the NTMA Fall Conference from October 24 – 27 in San Antonio, Texas, where MEMEX President and CEO, David McPhail, will be part of the Ignite Session, ”Job Shops of the Future: Present vs. Future – Expectations of the Job Shop.” Earlier this month, MEMEX also participated in, and presented at, the IMPACT Manufacturing fall summit in Chicago, held on October 1 – 4 2017.

”Over the past few months, MEMEX has had increased manufacturer interest in MERLIN Tempus’ capabilities to uncover hidden operational value,” said Mr. McPhail. ”SOUTH-TEC, IMPACT, and the NTMA Fall Conference are industry leading events and great opportunities to present our manufacturing technology to prospective customers. We’re excited and proud to showcase MEMEX’s MERLIN Tempus to manufacturers that are actively seeking to reduce operating costs and boost productivity in their facilities.”

About SOUTH-TEC

SOUTH-TEC draws manufacturing suppliers, distributors, and equipment builders from across North America and around the world – bringing them together in Greenville, South Carolina. With hundreds of exhibiting companies, attendees can find all the latest technologies and services – plus the experts who build them – ready to demonstrate solutions that can help them grow their business. Visitors can make side-by-side comparisons, discover integrated equipment, hear about industry trends and forecasts, and leverage their purchasing power. For more information, please visit http://www.southteconline.com/.

About MEMEX

MEMEX was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then, MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of ”successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 percent. For more information, please visit: www.MemexOEE.com.

Media Contact

Memex Inc.:
David McPhail, CEO
Phone: 519-993-1114
Email:David.McPhail@MemexOEE.com

Rashi Rathore, Marketing Manager
Phone: 905-635-3040 ext. 103
Email:Rashi.Rathore@MemexOEE.com

Investor Relations

Sean Peasgood, Investor Relations
Phone: 416-565-2805
Email:Sean@SophicCapital.com