Alphinat Announces a Profit of $131,282 Before Non-Cash Items Resulting in a net Profit of $40,064 for the Quarter Ended November 30, 2019

MONTREAL, Jan. 16, 2020 (GLOBE NEWSWIRE) --

Alphinat Inc. (TSXV: NPA) announces a profit of $40,064 for the quarter ended November 30, 2019.

During the quarter under review, Alphinat has focused its efforts on expanding its distribution channels, licenses sales and on diversifying its offerings.

In order to accelerate future growth, Alphinat has considerably broadens its horizons by now counting three main areas of solution development:

1. SmartGuide Portal Edition for Dynamics 365¹, has optimized the way that clients can now create and deploy online services on top of Microsoft Dynamics 365 CRM solutions. This offering is available in SaaS mode as well as on-premises;
    
2. SmartGuide Municipal Cloud aims at offering unparalleled productivity to municipalities. Municipalities will be able to choose from a catalogue of pre-built applications, further accelerating the speed at which they can deploy citizen-centric services. These services include service requests, permitting and licensing as well as numerous other citizen-facing services and internal applications.
    
3. SmartGuide CIVIC Portal for Amanda² is a derivative of the Municipal Cloud solution front ending a partner solution for an improved user experience for both the client cities and their citizens be it on-premises on in a secure-cloud offering.

The company pursues its commercialization efforts with partners at various departments and agencies of North American governments being federal, state and municipalities levels. Furthermore, the company continues to be involved in supporting its partners delivering solutions to government clients.

Alphinat is pursuing its partnership strategy with consulting firms and systems integrators to promote and ensure resale and delivery of SmartGuide, as well as with independent software vendors for OEM agreements and with other partners for SaaS services. Management believes that these agreements will helpcontinue to reduce the sales cycle of the company’s products while giving it additional exposure to new potential clients.

For the 3-month period ended November 30, 2019, the Company recorded total revenue of $407,360 compared to $240,706 for the same period in 2018. The net income for the period ended November 30, 2019 amounted to $40,064 or $0.001 per outstanding common share compared to earnings of $(50,748) or $(0.001) per outstanding common share for the 3-month period ended November 30, 2018.