Fobi Ai Inc Stock Price, News & Analysis

Fobi AI Inc. (FOBIF) has partnered with the University of Nevada, Las Vegas (UNLV) to provide its CheckVax™ digital proof of vaccination system. This initiative aims to enhance the attendee experience by expediting entry to the Thomas Mack Center during basketball games while ensuring safety for fans, student-athletes, and staff. The deal includes an initial setup fee and ongoing license fees. The first men's basketball game of the season is set for November 10, enhancing fan engagement and generating revenue.

Fobi AI Inc. (FOBI:TSXV, FOBIF:OTCQB) has successfully acquired the PassWallet application and related assets from Quicket GmbH for €888,000. The transaction involved €355,200 in cash and 301,480 common shares. Since the last report, PassWallet downloads surged from 6 million to 7.28 million, with notable growth in European countries. This uptick aligns with the growing demand for mobile wallets, expected to expand at a CAGR of 20% from 2021-2026. CEO Rob Anson emphasizes optimism for continued growth amidst the shift towards contactless transactions.

Fobi AI Inc. (FOBIF) has partnered with the University of Nevada Athletics to implement its CheckVax™ proof of vaccination system, enhancing safety and streamlining entry for fans at basketball games. This collaboration will generate revenue through an initial setup fee and monthly licensing. The Lawlor Events Center, which holds 11,500 fans, requires a robust solution for vaccination verification. Notably, CheckVax™ is easy to use, secure, and facilitates multi-jurisdiction verification, positioning it as a superior option compared to competitors.

Fobi AI, a leader in data intelligence, has announced a virtual shareholder update call scheduled for November 1, 2021, from 9-10 am PDT. The call will be hosted by CEO Rob Anson and CFO Mark Lotz, covering year-end financial results, milestones, M&A, and future expectations. Investors can submit questions in advance to ir@fobi.ai. This event aims to enhance shareholder engagement and provide insights into the company’s financial health and strategic direction. Interested participants can register for the call through a provided link.

FOBI AI Inc. (TSXV: FOBI) (OTCQB: FOBIF) has reported significant business milestones, including a robust balance sheet and increased revenue announcements. The company is entering new verticals and has seen a surge in investor interest. FOBI successfully secured key hardware components amid a global chip shortage and launched innovative software applications. Key partnerships with Shopify, Lightspeed, and Hedera Hashgraph were highlighted, alongside successful M&A activities involving Qples and PassWallet, aimed at expanding revenue streams and market presence.

Fobi AI Inc. (FOBIF) announced a new partnership with REVEL^XP, focusing on enhancing fan engagement in collegiate and professional sports. The deal includes an initial setup fee for each event and licensing revenue for digital Wallet passes distributed to fans. Fobi's technology will improve navigation and communication for fans attending premium hospitality events at select NCAA Div. 1 schools. The sports event market is projected to grow significantly, reaching $32B USD by 2025, highlighting the potential for increased revenues through this partnership.

Fobi AI Inc. (TSXV: FOBI, OTCQB: FOBIF) announced the completion of its acquisition of Qples on October 13, 2021, following TSXV approval. The total purchase price of US$3,151,385 will be partially paid in cash (US$2,120) and through the issuance of 1,222,551 common shares at a price of $3.24 CAD per share. Qples can earn up to US$1,000,000 based on revenue generated from the acquired assets in 2022. Additionally, Fobi will loan Qples US$294,405.28 to repay an existing loan. The acquisition aims to enhance Fobi's capabilities in real-time data analytics.

Fobi AI Inc. (FOBIF) has signed a service agreement with Empower Clinics to incorporate its Wallet Pass technology into Empower's Kai Care COVID-19 Testing product. This integration aims to provide a secure digital experience for COVID-19 test scheduling and result verification. It offers clients the ability to download test results directly to their mobile wallets, enhancing user engagement. Additionally, Fobi will earn revenue from each Wallet Pass downloaded and share in new advertising revenues generated through this service.

Empower Clinics Inc. has entered into a Service Agreement with Fobi AI Inc. to integrate Fobi's Wallet pass technology into Empower's Kai Care COVID-19 testing product. This partnership aims to enhance digital customer experience by allowing users to securely receive their test results directly on their mobile wallets. The integration is timely due to rising demand for digital health verification. The collaboration is expected to create new revenue streams through customer engagement and advertising opportunities. Empower anticipates increased market share in the growing COVID-19 testing market.