Posts

MEMEX @ Cisco Live 2016

Cisco Live Las Vegas is the destination for the education and inspiration you need to thrive in the world of digital business. Join thousands of technology innovators, IT visionary thought leaders and Cisco Partners, including MEMEX Inc. for a transformational experience that includes more than 1,000 education sessions, and numerous opportunities to build the connections that will fuel your personal and professional growth. The event offers:
  • five days of sessions and specialty programs on topics such as Cloud, Collaboration, Data Center, Mobility, Network Infrastructure, Security, SP, and SDN.
  • explore the latest solutions from Cisco and the industry’s top vendors in the World of Solution
  • Validate your skills with a free Cisco Certification exam.

Venue: Cisco Live, 3950 S Las Vegas Blvd, Las Vegas, Nevada 89119
Date: July 10 – 14, 2016
Time: 10:00 am – 5:00 pm Daily

Learn more about Cisco Live

Register for Cisco Live

Memex Completes Early Payout of BDC

Early Payout Eliminates Future Interest and Royalty Payments

Burlington, ON, Canada – June 29, 2016 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today announced it has completed the early settlement of its debt obligation to the Business Development Bank of Canada (the “BDC”).  Funding for the pay-out came primarily from the Company’s Senior Management and Directors, who have collectively exercised $196 thousand of $0.16 warrants that were set to expire.  The early pay-out removes uncertainty over the bonus interest payment, which would have been due at loan maturity (Feb 2018), and also halts royalty interest payments.

Settlement Summary

In exchange for repayment of the outstanding principal ($160 thousand), an interest rate differential payment of $8 thousand, and the negotiated bonus interest payment of $103 thousand, the BDC has agreed to release its security and conclude its lending arrangement with Memex.  That arrangement would have seen the Company continue to pay principal plus interest at 9% in addition to royalty interest (of 1% of each year’s annual sales) and the unknown future bonus interest (2.3% of the Company’s fair value) at the maturity of the loan.

About Memex Inc.

MEMEX Inc., the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the rapid adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate network, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

Ed Crymble, Chief Financial Officer

905-635-1540 ext. 110

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) accepts responsibility for the adequacy

 

Memex’s Senior Management and Directors Exercise Out-of-the-Money Warrants to Fund Anticipated Early Payout of BDC

Early Payout Reduces Future Interest and Royalty Payments

BURLINGTON, ON–(Marketwired – Jun 21, 2016) – Memex Inc. (“Memex” or the “Company”) (TSX VENTURE: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today announced it has come to an agreement in principal for the early settlement of its debt obligation to the Business Development Bank of Canada (the “BDC”). Funding for the pay-out will come primarily from Company’s Senior Management and Directors, who have collectively agreed to exercise $196 thousand of $0.16 warrants that were set to expire. The early pay-out removes uncertainty over the bonus interest payment, which would have been due at loan maturity (Feb 2018), and also halts royalty interest payments.

Settlement Summary
In exchange for repayment of the outstanding principal (currently $168 thousand) over the next three months, an interest rate differential payment of $9 thousand, and the negotiated bonus interest payment of $103 thousand, the BDC has agreed to release its security and conclude its lending arrangement with Memex. That arrangement would have seen the Company continue to pay principal plus interest at 9% in addition to royalty interest (of 1% of each year’s annual sales) and the unknown future bonus interest (2.3% of the Company’s fair value) at the maturity of the loan. Closing is subject to the execution of definitive documentation and is expected to occur on or about June 27, 2016.

Management Comment
“With our future potential we believed it was in the company’s and our investors’ best interest to negotiate the best outcome possible with the BDC right now,” expressed Company CFO Ed Crymble, in reaction to the decision to take out the BDC’s loan position. “The BDC’s bonus interest payment, which would have been based on Memex’s value at maturity, could have been for substantially more than what we agreed to today. Management as well as Company Directors backed up their decision and their belief in Memex’s future by agreeing to pay more than $40 thousand over current trading value with the exercise of their warrants.”

About Memex Inc.
MEMEX Inc., the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the rapid adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate network, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement. For more information, please visit:www.MemexOEE.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.

Cautionary Statement Regarding Forward-Looking Statements

All statements included in this press release that address future events are forward-looking statements. For example, statements related to the early pay-out of the BDC loan are forward-looking statements. While Memex and the Company have come to an agreement in principal for the early settlement of the Company’s debt obligation to the BDC, completion of that transaction is subject to the execution of definitive documentation and there can be no guarantee that the parties will execute such definitive documentation or that closing will occur on or about June 27, 2016 or at all. Further, statements related to the future potential of the Company or the Company’s fair value at the maturity of the loan are forward-looking statements. There can be no guarantee regarding the future potential of the Company or the Company’s fair value at the maturity of the loan. These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company. These statements require the Company to make assumptions the Company believes are reasonable but that are subject to inherent risks and uncertainties. These risks include several of the factors discussed further under the “Risks and Uncertainties to the Company” section of the Company’s most recent interim MD&A available under the Company’s profile at www.sedar.com including risks related to: the Company’s history of losses and the ability to achieve or sustain profitability; the fact that the IIoT is a relatively new market; there being no assurance that cash flow from operations or debt or equity financing will be available to implement the Company’s growth strategy; the ability of the Company to retain key personnel; competition; protection of the Company’s intellectual property; failure to manage growth; and difficulties associated with sales forecasting, These risk factors are interdependent and the impact of any one risk or uncertainty on a particular forward-looking statement is not determinable. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized. These forward-looking statements are made as of the date of this press release. Except as required by applicable securities legislation, the Company assumes no obligation to update publicly or revise any forward-looking statements to reflect subsequent information, events, or circumstances.

For investor inquiries please contact:
Ed Crymble
Chief Financial Officer
905-635-1540 ext. 110
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

To read the complete article click here

David McPhail at OptiSaw West

David McPhail will be presenting at OptiSaw West. OptiSaw is a time-effective and affordable learning and networking opportunity for those driving the future of sawmilling in your operation. The focus is on the future of optimization and automation in our industry, including challenges and opportunities on the cutting edge of this side of the industry.

Date & Time: Tuesday, 14 June 2016 from 8:30 AM to 3:30 PM (PDT)

Venue : Sheraton Vancouver Airport Hotel
7551 Westminster Highway
Richmond, BC V6X 1A3
Canada

For further information and registration click here 

 

Trending now – Smart Manufacturing

There is no IIoT without Real-Time data. True Shop – Floor – to – Top – Floor connectivity can :

  •  Enhance all facets of manufacturing using evidence based Real-Time data collected from each machine and discreet process
  • Increase throughput & ensure efficient reporting  directly to and from ERP
  • Drive the circle of  continuous improvement & lean manufacturing
  • Create tangible, compelling business outcomes

Discover the award winning IIoT Real-Time manufacturing analytic solution by MEMEX; MERLIN, your key to the digital factory of the future.

 

Memex Inc. Releases Q2 – 2016 : Results Investment in Sales Infrastructure Paying Off

Burlington, ON, Canada – May 16, 2016 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial results and operational highlights for its second quarter of fiscal 2016 which ended March 31, 2016. All results are reported in Canadian dollars.

Financial Highlights for the Second Quarter Ended March 31, 2016:

·         Memex generated quarterly revenue of $571 thousand, 42% or $169 thousand, higher than the same period in the prior year, and 7% lower than Q1-2016.

·         Memex 53.4% gross margin for the quarter ($305 thousand in gross profit), was down 3.3% from the same quarter a year ago and 7.7% from Q1-2016. A higher hardware to software sales mix in the current quarter accounts for the decline.

·         Unearned revenue of $536 thousand closed the quarter up $54 thousand from December 31, 2016’s close and was $46 thousand off its highest level of $582 thousand at September 30, 2015.

·         Bookings[i] for the quarter were $833 thousand, down 5% from the prior quarter, but up 50% or $276 thousand from Q4-2015.

·         The Company showed a $991 thousand net and comprehensive loss for the quarter equating to a $0.01 loss per share.  This compares with a $512 thousand net and comprehensive loss in the same quarter last year, and a $0.007 loss per share.

·         At the end of the Q2 the Company had more than $3.0 million in current assets including more than $2.2 million in cash and $2.1 million in working capital.

 

Q2 Fiscal 2016 and Subsequent Operational Highlights:

  • In February, Memex received a substantial follow-on order from Kuss Filtration Inc. for 43 MERLIN licences as part of a multi-plant roll-out in the US, China, and Brazil. Memex also generated 5 new customer orders, and more than ten follow on orders from existing customers in the quarter.
  • Memex’s CEO and CTO were recognized by Smart Manufacturing Magazine as two of the top 30 advanced manufacturing visionaries.
  • In April, Memex launched MERLIN OPTime, a free downloadable real-time dashboard for manufacturing analytics.
  • In April, Sun Hydraulics Corp. placed an 89 machine follow-on order for MERLIN MES Enterprise Edition Software, after an 11 machine initial phase.

 

Management Commentary:

Memex’s President & CEO David McPhail said, “We continue to see strong interest in MERLIN with both follow-on orders from existing customers and new customers buying our solutions. Our investment into sales and marketing is paying off with substantial revenue gains over prior periods, and no reason not to expect the trend to continue.”

 

About Memex Inc.

Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that delivers real-time manufacturing productivity analytics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines. For more information, please visit: www.MemexOEE.com

 

For investor inquiries please contact:

 

Ed Crymble, Chief Financial Officer

905-635-1540 ext. 110

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) accepts responsibility for the adequacy or accuracy of this release.

[i] This non-IFRS financial measure is identified, defined and reconciled to the closest IFRS measure, revenue, within our Management’s Discussion and Analysis for the three and six month periods ended March 31, 2016 and 2015, in the section “Other Financial Measures.”  That MD&A is available at www.sedar.com under our company profile.

MEMEX Inc. Leadership Recognized Amongst Top 30 Advanced Manufacturing Visionaries

BURLINGTON, ON–(Marketwired – May 12, 2016) – MEMEX Inc. (TSX VENTURE: OEE) is excited and proud to announce that Society of Manufacturing Engineers (SME), in its inaugural issue of Smart Manufacturing magazine, has recognized David McPhail, CEO of MEMEX Inc., and Dave Edstrom, CTO of MEMEX Inc., amongst the top 30 Advanced Manufacturing Visionaries.

According to Smart Manufacturing Magazine, the top 30 Advanced Manufacturing Visionaries list is a representation of who’s who in the smart manufacturing world. They all have made significant contribution towards developing tools and techniques that have made the Industrial Revolution 4.0 a reality.

Smart Manufacturing magazine recognizes David McPhail, CEO of MEMEX Inc. for his relentless work towards creating solutions that help North American manufacturers solve tangible issues such as efficiency and sustainability of manufacturing operations. Adding further to the delight of MEMEX Inc., Smart Manufacturing magazine also applauds the work of Dave Edstrom, CTO of MEMEX Inc., in the field of developing MTConnect® an open, royalty-free standard to get information from machinery applications to enable increased productivity.

“Both Dave and I are really honored to be a part of this esteemed list, not just as individuals but also as developers of MERLIN, the Industrial Internet of Things (IIoT) communication platform that promises manufacturing excellence,” says David McPhail, CEO of MEMEX Inc. “Visionaries create the window into the future but it is the strength and dedication of their team that turns those ideas in reality. MEMEX Inc. as a team is in the business of taking our visions and turning them into revolutionary IIoT products.”

About MEMEX Inc.

MEMEX Inc., the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the rapid adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate network, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.

Contact Information
Media Contact
MEMEX Inc.:
David McPhail, CEO
Phone: 519-993-1114
Rashi Rathore, Communication Coordinator
Phone: 905-635-3040 ext 103

Another Win for MEMEX — Sun Hydraulics Corp. Adopts MERLIN

SARASOTA, FL–(Marketwired – May 13, 2016) – MEMEX Inc. (TSX VENTURE: OEE) is proud to announce that Sun Hydraulics Corp. (NASDAQ: SNHY) has issued a Purchase Order for an additional 89 of their machines to be equipped with MERLIN MES Enterprise Edition software.

Sun Hydraulics arrived at this decision after experiencing the optimization opportunities offered by MERLIN during a pilot in which MERLIN was installed on 11 of their machines. The 100 machine multi-plant roll-out is phase 1 of a larger IIoT initiative to ensure efficiency and profitability of operations at Sun Hydraulics Corp.

“Recognition of the value that MERLIN creates by industry leaders like Sun Hydraulics Corp. pushes MEMEX towards developing more innovative solutions that successfully transform factories of today into factories of the future,” says David McPhail, CEO MEMEX.

About Sun Hydraulics Corp.

Sun Hydraulics is a leading designer and manufacturer of high-performance screw-in hydraulic cartridge valves and manifolds that control force, speed and motion as integral components in fluid power systems.

From its inception in 1970 and a public company since 1997, Sun sells its products globally, primarily through independent distributors, to diverse markets of mobile and industrial equipment and machinery manufacturers. Sun has been committed to being the leader in its field. They offer products that advance customers’ businesses, improving the safety and performance of the machinery in which they are used.

About MEMEX Inc.

MEMEX Inc., the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the rapid adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate network, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.

Contact Information
Media Contact
MEMEX Inc.:
David McPhail, CEO
Phone: 519-993-1114
Rashi Rathore, Communication Coordinator
Phone: 905-635-3040 ext 103

Two New Devices Focus on Securely Accessing Data in Legacy Machines

April 202016 | Brett Brune | Smart Manufacturing magazine

A trio of Mazak, Memex and Cisco is beginning to sell SmartBox, a device meant to securely manage manufacturing data—information on axes, spindles, temperatures, cutting times, downtimes and part counts, for starters—culled from machines that have been laboring in a sort of silence for decades. At the same time, a pairing of Forcam and Wago plans to release a similar device it calls the PFC100 Industrial MTConnect device before July.

SmartBox uses I/O links to connect machines and produces MTConnect code in real time. It can use an adapter board from Memex and must be connected to a Cisco router, John Rattray, VP of sales and marketing at Memex, said in an interview with Smart Manufacturing magazine at the MC2 conference in Dallas. It can also use Memex’s factory- and machine-shop-floor-monitoring software, Merlin, to map existing signals and analyze and correlate the data so shops and plants can use it to improve productions.

Companies in the aerospace, defense and medical industries welcome the Cisco router requirement because it assuages their network security concerns, he added.

“We’re talking about IP connections in terms of Ethernet connections,” Rattray said. “You don’t need to have all the security in there to make the connection work. However, one customer of ours, DP Tool in New York, had experienced a situation where a guy who was maintaining a machine put in a USB stick into it and a virus on this USB stick spread to the company’s manufacturing network and whole admin network. It cost the company an enormous amount of effort and grief to get that fixed. You can run without security switches. But smart manufacturers are recognizing we need to secure and lock down our shop floor networks.”

The SmartBox has a “level three” managed switch that will shut the device down automatically if a USB stick comes its way or someone unplugs a particular Ethernet connection, Rattray added.

The emerging device from Forcam and Wago has a combined MTConnect adapter and agent inside the device, as well as a built-in security firewall for cybersecurity, Forcam USA Inc. CEO Mohamed Abuali said. He demonstrated a simulation model at MC2, saying it cost less than the trio’s device.

The Forcam/Wago product will cost less than $1,000, he said. And the Mazak/Memex/Cisco device will cost $4,000 on the low end but could be used on four machines, Mazak President Brian Papke said.

Companies using legacy CNCs will soon be able to choose between bolting their new data-retrieving device together with a Cisco network router or a “quicker solution that can connect to any network,” Abuali said. “The alternative [to these two options] is you have to retrofit the machine and upgrade the controller, which can cost thousands of dollars. In many cases, you cannot even retrofit.”

Both devices are intended to help manufacturers around the world connect their machines securely to a network. About 14.5 million machines still lack connectivity, Rattray said.

Of course, the idea is to then analyze the data to make the best decisions possible about manufacturing and machining processes. And some of those decisions can be made without human involvement, to be sure: “For instance, if a temperature sensor starts to rise above a threshold limit, the machine can send an alert and notify people before it fails,” he added.

Merlin lets companies “take data and make it manageable,” said Papke, who serves on the board for MTConnect. Otherwise, companies end up with “digital exhaust.”

“Forcam wants to define real-time production—from any machine of any age,” Abuali said. “That’s a critical state.”

Memex Chief Technology Officer Dave Edstrom is “very pleased to see more of these type boxes come out—because, as the saying goes, a rising tide lifts all ships,” he said.

But he couldn’t stop himself from making a quick comparison with the offering from Forcam/Wago: “The integration of what Mazak is doing with the SmartBox, with Memex and Cisco—making it easier to connect—will resonate very well with manufacturing. You don’t have to sell someone on Memex’s ability to connect anything. And you don’t have to sell anyone on Cisco’s ability to network a lot of devices together and do it securely. So that’s why we think SmartBox is a game-changer.”

Click here to read the complete article

Memex Inc. (OEE) has Products Revolutionizing the Industrial Internet of Things

Stephen L Kanaval |

Overall Equipment Effectiveness is maybe not a phrase you hear that often, but if you manage a shop or a work site, you know exactly what it means. It means that your machines on your floor are running at peak performance. Memex Inc. (OEE) understands this so well that they made it their stock symbol. So, how does Memex do this? The company has created a manufacturing execution system called MERLIN OEE. The MERLIN OEE system is connected directly to the machines on the floor and offers live results and a constantly updating dashboard of metrics. Memex’s MERLIN OEE is all about a company using the machines that they have and making them better by finding the hidden areas of profit loss.

The creation of this unique system has allowed Memex to have four straight quarters of revenue growth. Meme produced a gross margin of $375,000, which was 27% higher than the same quarter in 2015 (cited from press release here). The industrial internet of all things is coming, and if you read Equities.com frequently you know that there are disruptive products out there. Memex is one of these companies that understands how to bridge the last twenty years with the next fifty years. The MERLIN OEE takes older machines and adapts them with software and shows areas where the machine can be improved. These analytics can save companies a lot of money. As a matter of fact here is what Memex says about that:

MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines

Memex has important alliances with Cisco and Mazak. In addition, the MERLIN OEE has been proven in plants like Milwaukee Tool, Magellan Aerospace, Aero Pacific, and many more. And just think, there are over 16 million Computerized Numerical Control (CNC) machine tools installed world wide, what do you think Memex could do for all those companies with its machine monitoring software?

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

 

To see the article please click here