OneSoft Solutions Inc. Reports Q2 2023 Results for Fiscal 2023 - Seite 3

Management believes that the Company has sufficient cash on hand to fund additional product development and that this change to the Fiscal 2023 business plan will result in reducing the lead time for revenue from new products that are currently being developed.

BUSINESS OUTLOOK

Management is pleased that the first six months of Fiscal 2023 2023 has progressed in accordance with expectations and is optimistic that the second half of Fiscal 2023 will continue to evolve as planned. We believe that sales and revenue growth will continue into the foreseeable future based on three relevant factors: (a) the Company's solutions are continually receiving stronger validation as CIM use increases and user experiences are shared amongst industry participants; (b) our pipeline of prospective customers continues to grow; and (c) our competitive moat continues to grow, evidenced by the fact that we do not encounter any solutions that are competitive with CIM capabilities in our sales activities, other than legacy third party products or software applications that have been developed for internal use by some of the larger pipeline companies. We are encouraged that our customer base and pipeline miles under CIM use continues to increase and that some large pipeline operators, such as our latest customer addition, have chosen to use CIM rather than continue to pursue in-house software development.

Sales efforts are currently underway with prospective customers in North and South America and Australia and several customers have initiated efforts to expand use of our solutions to their international operating divisions and acquired operations. OneSoft is poised to achieve approximately 50% revenue growth in Fiscal 2023 over Fiscal 2022. With a strong balance sheet, sufficient cash on hand, a strong base of hallmark customers who generate recurring revenues and the ongoing sales activities, we believe there will be no requirement to raise additional capital to execute current business and operational plans.

Q2 2023 EARNINGS WEBCAST / CONFERENCE CALL

OneSoft's CEO Dwayne Kushniruk, President & COO Brandon Taylor and CFO Paul Johnston will host a live webcast on Thursday, August 17, 2023 at 11:00am ET to review the results, provide Company updates, and answer investor questions following the presentation. Webcast / Conference call details are as follows:

DATE: Thursday, August 17, 2023
TIME: 11:00am ET (8:00am PT)
WEBCAST: Webcast Link

OPTIONAL PARTICIPANT TELEPHONE NUMBERS: