Fobi Ai Inc Stock Price, News & Analysis

Fobi AI has received a Cease Trade Order from regulatory authorities due to not filing their annual 2024 financial documents. CEO Rob Anson acknowledged the disappointing delay, explaining they didn't proactively file for a Management Cease Trade Order (MCTO) as they were confident in meeting the filing deadline. The company assures shareholders that management and auditors are working to complete the audit efficiently and maintain transparent communication. Updates will be provided as progress is made.

Fobi AI has provided a corporate update highlighting several key initiatives. The company has launched integrated payment processing within its event and ticketing platform, generating revenue through a 2.9% merchant fee and additional service charges. The company is restructuring Qples to optimize operations and align with the emerging 8112 digital coupon standard. Following participation in the Comcast SportsTech program, Fobi has gained new business prospects and investor interest. The company has also expanded its presence in equestrian show parks through the Tbird partnership and completed successful paid pilots in the transportation industry.

Fobi AI has been selected to represent Canadian AI technology at Asia Tech x Singapore (ATxSG) from May 29-31, 2024, at the Singapore EXPO. This selection is part of a delegation organized by the BC Government's Ministry of Jobs, Economic Development, and Innovation. ATxSG is Asia’s flagship tech event, showcasing the convergence of global tech leaders and innovations. Fobi's participation aims to raise awareness of Canadian tech in the APAC region, identify industry pain points, and connect with key industry players. The event presents opportunities for Fobi to enhance its market presence, attract new customers and investors, and forge strategic partnerships globally. Fobi CEO Rob Anson emphasizes the honor of representing Canada's advancements in technology and the potential for growth in the dynamic tech ecosystem of Asia.

Fobi AI has launched a new integrated event registration and digital ticketing platform, aiming to enhance user experience and expand revenue opportunities. The platform consolidates event registration, ticket purchases, memberships, and credentials into a single, streamlined interface accessible through Apple or Google wallets. This eliminates the need for physical tickets, reducing paper waste and enhancing security and convenience. A key feature is pass bundling, which allows bundling of event tickets with additional offerings like merchandise and food, providing a more enjoyable experience and new revenue streams.

CEO Rob Anson emphasized the company's commitment to driving new revenue streams and enhancing shareholder value through innovative technology. The new platform is designed to address client needs and set new standards in the event industry.

Fobi AI Inc. partners with Verifiction to enhance data verification and cyber security protection, aiming to revolutionize data verification and authentication in the digital landscape. The partnership will provide innovative solutions to verify the authenticity and ownership of digital assets, safeguarding against data manipulation, forgery, and unauthorized use.

Fobi AI Inc. announces the appointment of MNP LLP as their new Auditor, marking a positive step in ensuring efficient financial reporting. The Company has closed a transaction with Wallet Communications SL, issuing common shares subject to a hold period. Additionally, Paradox Public Relations continues to provide advisory and investor relations services as an arm's length party.

Fobi AI Inc. (FOBI:TSXV) has signed a data license agreement with Red Truck Beer Company to provide real-time consumer behavior insights. The partnership aims to enhance Red Truck's market position, optimize portfolio management, and improve operational efficiencies. Fobi's Data Exchange offers brands like Red Truck the ability to make data-driven decisions to meet customer expectations in a competitive market.