Scryb Reports Financial Results for Q1 2025

Toronto, Ontario--(Newsfile Corp. - March 4, 2025) - Scryb Inc. (CSE: SCYB) ("Scryb'' or the "Company") announced it has filed financial results for its first quarter ended December 31, 2024 ("Q1 2025").

Q1 2025 Financial Highlights

• Total Assets: $13.5 million, a 54% increase from $8.8 million in the previous quarter

• Investment in Cybeats Technologies Corp.: Scryb holds approximately 63 million shares, representing ~49% of Cybeats' outstanding shares

• Cybeats Accounting Separation: Reported a $9.3 million gain due to a change of accounting for Cybeats, which has shifted to a standalone equity basis

• Gain on Asset Sale: $1.36 million gain from the sale of Scryb's stake in the Fionet Rapid Response Group ("FRR") joint venture, a mobile healthcare software platform¹

• Cash and Receivables: $2.2 million, including $1.7 million in receivables primarily from the FRR divestiture and the associated revenue royalties

• Investment in Glow Lifetech Corp.: Holds over 16 million shares representing ~10% of the outstanding shares which have a market value of approximately $1.2 million

• Recent Financing: Raised over $1.1 million in a financing round led by Plaza Capital in January 2025

• Investment in AI: Recent launch of Raidian, an AI business designed to address emerging AI regulations and enhancing AI compliance, safety, and trust-aligning with the rapid demand for AI risk management solutions

"Scryb's assets are valued at $13.5 million-280% greater than its market cap of $4.8 million when trading at a price of $0.015 per share," said James Van Staveren, CEO of Scryb. "We are dedicated to unlocking shareholder value and effectively communicating our potential to investors. With a strong balance sheet and efficient capital management, Scryb is well-positioned to capitalize on both existing ventures as well as on new opportunities."

Cybeats Operational and Market Updates

Cybeats continues to demonstrate strong enterprise adoption, with multi-year agreements and increasing Annual Recurring Revenue (ARR). Given its expanding market presence, Scryb has increased its stake through private placements and open-market purchases, reinforcing its confidence in Cybeats' long-term value creation.

• Total contract commitments exceed $7 million (2024), up 84% from $3.8 million in the previous period (2023). The vast majority of contract commitments entail annual recurring revenue (ARR)