Fobi Ai Inc Stock Price, News & Analysis

Fobi AI Inc. (FOBIF) has secured a significant $10 million licensing agreement with BevWorks Brands Inc. The five-year contract, signed on March 24, 2023, allows Fobi to leverage its AI and data solutions to enhance BevWorks’ operational efficiency. Fobi will generate $10 million in revenue from this deal, recognized over the contract's duration. The partnership aims to help BevWorks streamline its operations and innovate within the beverage sector. Fobi’s technology will provide real-time data insights, enabling more data-driven decision-making for BevWorks, reinforcing Fobi's growth strategy in high-value industries.

Fobi AI Inc. (FOBI:TSXV, FOBIF:OTCQB) has announced the granting of a USA patent for its IoT hardware, which includes valuable technologies such as crypto processing, digital receipt storage, and universal loyalty rewards programs. CEO Rob Anson emphasizes that this patent enhances the company's value and creates new business opportunities through organic license fees. The hardware enables receipt capture, sales analytics, and personalized marketing without complicating PCI compliance. The patent's success is expected to support pending applications in Canada and Europe, reinforcing Fobi’s position as a leader in AI and data intelligence.

Fobi AI Inc. (FOBIF) has announced a new contract between its subsidiary PulseIR and ParcelPal Logistics, generating $120,000 in revenue over one year. This deal highlights PulseIR's role in providing real-time communication channels for companies lacking substantial marketing resources. ParcelPal, known for its logistics solutions, including last-mile delivery across various sectors, emphasized the importance of this partnership for enhancing investor relations. Additionally, Fobi has granted 1,350,000 stock options to its directors and officers, set at an exercise price of $0.39, vesting immediately and expiring in five years.

Fobi AI Inc. (FOBIF) has announced a new reseller agreement with bBIG Communications that aims to enhance its Qples coupon platform. This partnership is crucial for digitally transforming the U.S. military market, serving over 1.4 million active and 16.5 million retired military families. The collaboration will allow bBIG to utilize Qples for print-at-home and AI Universal Digital Coupons. Additionally, a prior referral partnership for Fobi's Passcreator service further strengthens this relationship, providing opportunities to expand into the military sector. Fobi's digital verification solution, AltID, will also aid in securely verifying military memberships.

Fobi AI Inc. (FOBI:TSXV, FOBIF:OTCQB) has filed its second quarter 2023 interim financial statements and management discussion on SEDAR. A webinar hosted by CEO Rob Anson, CFO Annie Chan, and CRO Colby McKenzie is scheduled for March 2, 2023, at 9:00 am PST/12:00 pm EST to discuss the interim financial results. Investors can submit questions in advance. Fobi, established in 2017, leverages AI and data intelligence to provide digital transformation solutions, aiming to enhance customer experiences while promoting sustainability by reducing paper and plastic waste.

Fobi AI Inc. (FOBI:TSXV) announced the appointment of Colby McKenzie as the new Chief Revenue Officer (CRO) to drive growth and revenue potential. McKenzie, previously co-founder of Enlighten and VP at Weedmaps, brings expertise in corporate development and M&A strategies. His experience spans multiple sectors, reinforcing Fobi’s commitment to enhancing its revenue streams through a focus on strategic licensing and joint ventures. CEO Rob Anson emphasized McKenzie’s fit for the role, noting his ability to scale platforms and applications effectively.

FOBI AI Inc. (TSXV: FOBI, OTCQB: FOBIF) has entered a revised share purchase agreement to acquire Passworks S.A., a European digital wallet and mobile marketing firm, for €500,000, paid in common shares. The acquisition aims to enhance FOBI's position in the mobile wallet market and provide access to key clients like Hugo Boss and Catalina Marketing. An additional €50,000 may be payable in shares if revenue targets are met within a year. The deal involves a one-year service agreement for the vendor, with a monthly fee of €10,000. Closing is subject to TSXV approval. Common shares issued will be subject to a four-month hold period.

Fobi AI Inc. (FOBIF) has partnered with TELUS to launch a multi-phase digital transformation project for Predator Ridge, a premier resort in British Columbia. This initiative will begin with a new digital credential program, allowing the resort to enhance member and guest experiences through a secure digital wallet platform. The deal promises one-time revenue from an annual license and ongoing recurring revenue from a subscription model. The project supports ESG goals by reducing plastic membership cards and aims to help Predator Ridge improve customer engagement and loyalty through real-time data insights.

Fobi AI Inc. (FOBIF) has announced a reseller agreement with SMS PROMO, a company with over 30 years of experience in traditional promotions and couponing. This agreement marks the launch of the first reseller partnership for Qples by Fobi, allowing SMS PROMO's clients, which include several Tier 1 CPG brands, to access Qples' technology for print-at-home and digital coupons. The combined expertise of both companies aims to transform the coupon industry, supported by a market growth projection from $4.7 billion in 2020 to $29.7 billion by 2031, reflecting a compound annual growth rate of 18.6%.