LZG International Inc, dba FatBrain AI ($LZGI) Shareholder Update
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The engagement of Grassi & Co for the FY2023 corporate audit by FatBrain AI indicates a strategic move towards transparency and compliance, which could enhance investor confidence. The partnership with a reputable firm like Moore Global Network suggests thoroughness and reliability in financial reporting. The reported revenue growth, particularly the $21.5 million deal, signifies a robust sales performance and potential market penetration. However, investors should consider the impact of such large, one-off deals on sustainable revenue streams. The projected revenue for the first quarter of 2024 at $10 million suggests a positive outlook, but it is essential to analyze the consistency of these figures post-audit.
FatBrain AI's collaboration with significant players like a top ten global oil producer and a ministry of digital transformation exemplifies its capability to cater to diverse sectors, which is indicative of its scalability and adaptability in the AI SAAS market. The strategic discussions with other leading AI enterprises could lead to partnerships that may bolster market presence and drive innovation. However, the competitive landscape of the AI industry must be considered, as the entry of new competitors or technological advancements could alter market dynamics. It is also crucial to monitor customer acquisition costs and retention rates to assess long-term growth sustainability.
The process of becoming current with financial filings and relisting is a complex legal endeavor that FatBrain AI is undertaking. It requires adherence to stringent regulatory standards that govern publicly traded companies. The outcome of this process can significantly affect the company's legal standing and its ability to attract institutional investors. While this move is usually seen as a positive step towards corporate governance, it is essential to remain cognizant of the legal challenges and costs associated with such regulatory compliance.
FatBrain AI is an AI-driven SAAS company (OTCMKTS: LZGI), co-founded by serial entrepreneur, Peter B. Ritz, and executive chaired by Michael T. Moe, founder of GSV and private investor in leading companies such as Meta, Twitter, Spotify, Coursera and Palantir.
The company has engaged Grassi & Co, associated with Moore Global Network Limited as the Company's certifying accountant. They are tasked with completing the FY2023 corporate audit and bringing the financial filings current as soon as possible. The Moore Global Network is the 11th largest accountancy network in the world supported by 34,000 experts across 112 countries. The firm is well equipped to handle a multi-national business like FatBrain AI.
During the calendar first half of 2023 the company achieved nearly
In addition to the recent partnership with Genius Group Limited (NYSE American: GNS), the company is in discussions with several other leading AI enterprises to pursue strategic growth and looks forward to sharing the outcome of these discussions shortly.
"While becoming current and getting relisted are our key priorities, FatBrain AI continues to gain traction with customers, to grow revenues and cash flow," said Peter B. Ritz, co-founder and CEO of FatBrain AI. "We are confident that in 2024 we will deliver the communication flow and financial metrics demanded by our stakeholders and be recognized as a leader in the bourgeoning AI industry," added Michael T. Moe, executive Chair of FatBrain AI.
About FatBrain AI (LZG International, Inc., OTCMKTS:LZGI)
FatBrain AI provides powerful and easy-to-use AI solutions to empower the enterprise stars of tomorrow to grow, innovate, and drive the majority of the global economy. FatBrain's AI 2.0 technologies and advanced data services transform continuous learning, narrative reasoning, large language models, and cloud and blockchain technologies into auditable, explainable and easy to integrate AI solutions. FatBrain's subscriptions allow all companies to deploy its advanced AI solutions quickly, easily, and securely behind their firewalls or via cloud. FatBrain's global delivery includes 600+ team across design, development centers in the US, UK, India, and Kazakh Republic.
For more information, please visit: https://www.fatbrain.ai
Forward Looking Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on September 13, 2022. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are based entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Contact
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SOURCE LZG International, Inc.
FAQ
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