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Edge Total Intelligence Inc. reports news on its real-time digital twin and decision intelligence software for defense, enterprise, industrial, and mission-critical operations. Company updates often center on edgeCore™, a platform that unifies operational telemetry, workflows, analytics, AI, enterprise applications, and legacy systems into a real-time operational intelligence layer across on-premises, cloud, and hybrid environments.
Recurring developments include Oracle Cloud Infrastructure compatibility, contract renewals, defense maritime and aviation awards through the Australian business unit, and financial results tied to procurement cycles, liquidity, and capital-structure activity. News also covers completed technology acquisitions and licensing, expansion into maritime and industrial markets, and governance changes connected to leadership and capital markets readiness.
Edge Technologies Inc. has secured a contract to deploy its edgeCore™ platform for the Idaho Environmental Coalition, enhancing real-time situational awareness and decision-making as part of the Idaho Cleanup Project. The contract, announced on March 1, 2023, is a continuation of edgeTI’s collaboration with various U.S. defense entities, which underscores its expertise in environmental management. The IEC's mission includes safe and efficient cleanup operations at the Idaho National Laboratory (INL) site, aimed at reducing environmental liabilities while protecting human health.
Edge Total Intelligence Inc. (OTC: UNFYF) announced on February 21, 2023, the grant of stock options totaling 1,767,500 common shares to its management, employees, and directors. These options are exercisable at C$1.03 per share for five years, with vesting split into thirds over two years. This plan is subject to the approval of the TSX Venture Exchange. Additionally, edgeTI clarified its partnership with Independent Trading Group (ITG) for market-making services, emphasizing that ITG is utilizing its own funds and shares for executing trades. The company's focus remains on enhancing its real-time digital operations solutions.
Edge Technologies, a subsidiary of Edge Total Intelligence (OTC: UNFYF), was recognized as a Sample Vendor for Digital Twins in the Gartner Emerging Tech Impact Radar 2023. This report highlights the fusion of emerging technologies and their influence on hybrid experiences in physical and virtual spaces. CEO Jim Barrett emphasized that this recognition is a strong start to 2023, aiming to enhance client automation journeys through innovative software solutions. Additionally, Gartner's research serves as guidance for tech leaders on emerging technology trends, emphasizing the importance of product development and investment.
Edge Total Intelligence Inc. (OTC: UNFYF) announces a three-year renewal contract with a major global Human Capital Management leader. This renewal marks almost a decade of partnership, showcasing the company's sustained relationship with Fortune 100 clients. The company's innovations in intelligent automation and application connectivity have significantly contributed to customer satisfaction. EdgeTI aims to enhance situational awareness and drive data-driven actions through its edgeCore™ software, which promotes profitability and efficiency by integrating siloed systems.
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Edge Total Intelligence Inc. has amended its debt facilities to ease cash flow pressures. The company increased its line of credit from $1.74 million to $5.1 million, extending the maturity to January 20, 2026, with an interest rate rising to 8%. A partial repayment of $3 million was made on the existing note with Salem Investment Partners, which reduced its interest rate from 12% to 6% and extended the maturity to January 1, 2024. Additionally, amendments to convertible promissory notes with management extended the maturity to 2025 and reduced the interest rates. The overall changes are expected to reduce annual interest expenses by $313,000.
edgeCore Platform Recognized by Gartner
On January 19, 2023, Edge Total Intelligence (edgeTI) announced its recognition as a Representative Vendor in Gartner's "Market Guide for Technologies Supporting a Digital Twin of an Organization". This acknowledgment highlights edgeTI’s strength in operational excellence and performance management within manufacturing logistics.
The edgeCore platform empowers organizations to enhance digital transformation, reduce costs, and improve efficiency through its real-time digital operations software.
Edge Total Intelligence Inc. (OTCQB: UNFYF) has engaged Independent Trading Group for market-making services, aiming to enhance liquidity for its common shares on the TSX Venture Exchange. The initial term of the agreement is three months, with a monthly fee of CAD$5,000. In a separate move, edgeTI has ended its engagement with Sophic Capital for investor relations, effective December 15, 2022. These strategies are part of the company’s efforts to strengthen its market presence and operational efficiency.
Edge Total Intelligence has awarded an additional 89,935 stock options to Sophic Capital, enhancing their partnership for capital market strategies and investor relations. These options, exercisable at $0.72 each, follow a previous allocation of 100,000 options at $0.62. Both options will vest quarterly over a year, with a maximum validity of five years. The agreement revamps the company’s investor engagement strategy, which is crucial for maintaining visibility in the market. EdgeTI operates in real-time digital operations, supporting enterprises in enhancing their operational capabilities.
Edge Total Intelligence Inc. (OTC: UNFYF) reported a 10% decrease in total revenue for Q3-2022, reaching $908,064, attributed to a shift in professional services. However, subscription revenue showed slight growth at $795,698. The company secured key contracts, including a $950 million contract with the U.S. Air Force and a Basic Ordering Agreement with NATO, enhancing its operational outlook. Despite the challenges posed by global market conditions and rising interest rates affecting decision cycles, edgeTI is focusing on debt restructuring and U.S. government operations to regain growth.