Fobi Ai Inc Stock Price, News & Analysis

Fobi AI Inc. (FOBI:TSXV, FOBIF:OTCQB) has partnered with Kai Medical to implement a rapid Covid testing system for the Galaverse event in Las Vegas held on December 11-13, 2021. Through a consulting agreement, Fobi generated revenue by facilitating the testing process, allowing attendees to receive results via their mobile phones. This system, which delivers results in about 10 minutes, showcases Fobi's agility and innovation. Furthermore, the technology developed can be repurposed for other events, emphasizing its potential in various sectors, including travel and hospitality.

Fobi AI Inc. (FOBIF:OTCQB) has been appointed as the Health and Safety Technology Provider for the RSPA Inspire Conference, occurring from January 23-26, 2022, in Clearwater Beach, FL. This partnership will enable Fobi to implement its CheckVax™ solution, facilitating digital vaccination and testing verification for event attendees. The agreement generates revenue through initial setup and licensing fees. Fobi aims to support the retail sector's recovery from COVID-19 challenges by showcasing its innovative solutions to industry leaders at the conference.

Fobi AI Inc. (FOBIF) has entered a strategic partnership with Janam Technologies to enhance customer engagement and operational efficiency through innovative mobile wallet and hardware solutions. This collaboration targets industries such as sports, hospitality, and retail, providing advanced NFC ticketing solutions for events and venues. The initial rollout occurred at NCAA Division I basketball tournaments, and future offerings include an employee ID management solution and a loyalty program. This partnership aims to streamline access control, combat fraud, and improve the customer experience.

Fobi AI Inc. (FOBIF) has entered a non-binding LOI to acquire 100% of Passworks, a European digital wallet company, enhancing its footprint in the wallet pass industry. This acquisition follows Fobi's previous purchases of Passcreator and PassWallet, emphasizing its strategic goal of becoming a global leader in this sector. The transaction is expected to close by late December 2021 or early January 2022, pending due diligence and approvals. Passworks’ significant clientele, including Hugo Boss and Catalina, will provide immediate revenue and opportunities for cross-selling other Fobi solutions.

Fobi AI Inc. (FOBI:TSXV, FOBIF:OTCQB) has partnered with Amazon Business to distribute its hardware and software solutions globally. This agreement allows Fobi to reach over 5 million businesses across nine countries, tapping into Amazon's extensive logistics and fulfillment capabilities. Fobi will launch its Fobi 3.0 IoT devices on Amazon Business soon, enhancing real-time data connectivity for clients. CEO Rob Anson highlighted the potential for increased revenue and growth in 2022 as a significant milestone for the company.

Fobi AI Inc. (FOBIF) announced its Q1 financial results, showing a significant revenue increase to $580,317 from $147,533 in Q4. Despite this growth, the net loss escalated to $4,468,214, mainly due to a non-cash stock-based compensation expense of $2,619,361. Cash reserves grew to $8.266 million, aided by the exercise of warrants and stock options, while accounts receivable rose to $1.2 million. CEO Rob Anson highlighted operational milestones and a strong growth trajectory as key achievements.

Fobi AI Inc. (FOBIF:OTCQB) has announced a virtual-only shareholder update webinar scheduled for December 2, 2021, from 9-10am PST. The event will be led by CEO Rob Anson and CFO Mark Lotz, focusing on the company’s latest financial performance, operational milestones, and future outlook. Pre-submitted and live questions will be addressed during the session, providing shareholders with important insights. Fobi specializes in data intelligence, helping clients convert real-time data into actionable insights, enhancing customer engagement across various industries.

Fobi AI (FOBIF) has secured a partnership with Caddle, Canada's largest mobile-first insights marketplace, enhancing its access to major clients like Walmart, Loblaws, and Sobeys. This agreement facilitates co-marketing efforts, leveraging first-party data to improve customer engagement and loyalty programs. As brands shift from third-party to first-party data strategies, the collaboration aims to reduce customer acquisition costs and optimize marketing efforts for CPGs. This partnership aligns with industry trends emphasizing the significance of reliable data.

Fobi AI Inc. (FOBIF) has achieved SOC 2 Type 1 certification, enabling it to better serve enterprise, government, and fintech sectors. This certification, validated by a CPA firm, underlines Fobi's commitment to data security and operational integrity. The significant investment in resources reflects its strategy to secure contracts with large entities, including federal and provincial governments, banks, and credit unions. With this achievement, Fobi aims to leverage opportunities in fintech and enhance its competitive advantage in 2022.