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INEO Tech Corp. develops technology at the intersection of in-store retail media and loss prevention. Through INEO Solutions Inc., the company operates the INEO Media Network, a digital signage and retail analytics platform, and INEO Retail Media, which sells and manages advertising across in-store screens. Its patented integration of Electronic Article Surveillance pedestals with digital displays is designed to combine theft protection and media revenue within store entrance infrastructure.
Company news commonly covers commercial activity, customer and partner development, production readiness, advertising-network expansion, reseller and licensing matters, board and shareholder meeting updates, investor conference participation, and capital actions involving its common shares. INEO is headquartered in Surrey, British Columbia, and trades on the TSX Venture Exchange and the OTCQB.
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INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) reported its fiscal third quarter financial results for the period ended March 31, 2023. The company generated revenue of $398,730, a 19% increase compared to the same period last year. However, gross profit decreased to $157,116 from $203,550, with gross margin dropping to 39.40% from 60.66%. Net loss for the quarter was $709,852 or $0.01 per share.
INEO has expanded its Welcoming System deployments to over 18 states across the United States with major retail partners. The company introduced an RFID-enabled version of its Welcoming System and added the Welcoming Greeter to its product suite. INEO is focusing on accelerating roll-out plans, optimizing operations, and implementing cost-saving initiatives for sustainable growth.
INEO Tech Corp. (TSXV: INEO; OTCQB: INEOF) has announced the successful installation of its Welcoming System in over 70 retail locations across 18 states in the U.S. for its Major Retail Partners. This deployment, part of the company's 2023 expansion plans, is expected to generate several million customers monthly at these sites. The Welcoming System integrates digital advertising and Electronic Article Surveillance technologies, allowing retailers to showcase targeted ads while enhancing theft protection. CEO Kyle Hall expressed satisfaction with the progress, noting they are ahead of schedule for future rollouts. Major cities included in the deployment are New York, Los Angeles, San Francisco, and Chicago.
INEO Tech Corp. (TSXV: INEO, OTCQB: INEOF) will participate in the RILA Asset Protection Conference from April 30 to May 3, 2023, held in Denver, CO. The conference, hosted by the Retail Industry Leaders Association, gathers over 1,000 retail asset protection leaders for discussions on workforce safety and emerging technology. Kyle Hall, CEO of INEO, will attend and demonstrate the INEO Welcoming System at the Prosegur Security booth (#600) located at The Gaylord Rockies Resort & Convention Center. This event highlights INEO's innovative digital advertising solutions and analytics for retailers, showcasing their patented technology that integrates digital screens with theft detection.