RIWI Corp. (RWCRF) reports developments as a market research platform and global trend-tracking and prediction technology firm. The company offers clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests on monthly or annual subscription terms across global markets. Recurring updates cover IFRS financial results, AI-powered survey and data-collection capabilities, synthetic data generation using Random Domain Intercept Technology, integration of acquired research assets, working-capital financing, stock option grants, transfer-agent changes and board governance matters.
RIWI Corp (TSXV: RIWI) (OTC Pink: RWCRF) has secured a new agreement with an international research organization for data analytics services. The contract is valued at $1.29 million CAD for the first 12 months, with an optional second year that could bring total new revenues to $2.65 million CAD plus applicable taxes. This agreement extends a previously announced contract from November 3, 2023. A Company Director will receive a 5% commission for their role in securing and developing this client relationship.
RIWI Corp. (TSXV: RIWI) (OTC Pink: RWCRF) has signed a Share Purchase Agreement to acquire TheoremReach Inc., a survey monetization platform. This acquisition, valued at $2.4 million USD, is RIWI's largest to date and is expected to strategically grow their platform, providing greater access to survey respondents worldwide and driving both top line and EBITDA growth.
TheoremReach, founded in 2014, had approximately $3.9 million USD in revenue and $433,000 USD of adjusted EBITDA in 2023. The acquisition includes an initial payment of $1.75 million USD, with the remaining $650,000 USD subject to adjustments and payable by October 10, 2025. An additional $1 million USD earn-out may be paid based on 2025 performance targets.
RIWI also announced a debt financing arrangement of approximately $1.1 million USD, led by members of RIWI's management team. The promissory notes will bear interest at 12% per annum with a four-year term.
RIWI Corp. (TSXV:RIWI)(OTC:RWCRF), a market research and global trend-tracking firm, will present at the Planet MicroCap Showcase: VANCOUVER 2024 on September 26, 2024, at 2:30 PM PST. CEO Greg Wong will host the presentation and answer questions. The event, in association with Small Cap Discoveries, offers a platform for RIWI to engage with investors through a live presentation and 1x1 meetings.
Investors can access the live webcast at 5:30 PM Eastern Time via the provided link. Those interested in booking 1x1 meetings or attending the showcase should register on the event website. The conference will be held at the Fairmont Waterfront Vancouver, with all company presentations available on the event platform under the 'Agenda' tab for those unable to attend live.
RIWI Corp. (TSXV: RIWI) (OTC Pink: RWCRF) reported its Q2 2024 financial results. Key highlights include:
- Revenue increased 10.5% to $1,026,112 compared to Q2 2023
- Net loss improved by 32.9% to $108,826 compared to Q2 2023
- Acquired majority assets of CoolTool Inc., enhancing platform capabilities
- Signed 16 new client contracts, including 9 new customers
- Delivered first marketing-related market research projects
- Achieved back-to-back quarters of over $1 million USD in revenues
The company's transactional revenue segment was impacted by new data quality measures. RIWI is developing an AI-powered platform to address industry fragmentation and ensure data quality, positioning itself for long-term success.
RIWI Corp. (TSXV: RIWI, OTC PINK: RWCRF) announced its Q1 2024 financial results. The company recorded $1,135,847 in revenue, a 5.4% decrease from Q1 2023. Net income was $27,087, compared to a net loss of $127,944 in the same period last year. Operating expenses reduced significantly to $1.14M from $1.35M.
RIWI acquired CoolTool Inc.'s assets and has begun integrating its platform, expecting initial deals to close in Q2 2024. The company signed 19 new contracts and onboarded 8 new clients. Investments in marketing and data quality improvements were highlighted. RIWI's management anticipates consistent profitability within the 2024 fiscal year.
RIWI Corp. granted 544,936 stock options to executives at CAD $0.75 per share, expiring in 2029.
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