MEMEX Recognized as one of the Strongest Performing Companies on the TSX Venture Exchange

BURLINGTON, ON–(Marketwired – Feb 23, 2017) – Memex Inc. (“MEMEX” or the “Company”) (TSX VENTURE: OEE) announces today that it was recognized as a 2017 TSX Venture 50 Company. The TSX Venture 50™ are the 50 strongest performing companies (out of 1,643 listings) on the TSX Venture Exchange.

Memex was ranked 4th in the Technology category (out of 131 listings) based on a ranking formula which equally weights market cap, trading volume, and share price. To commemorate this achievement, CEO David McPhail will join other TSX Venture 50 representatives at a market opening ceremony on Friday, February 24th, 2017.

“It is an honour to be selected as one of the leading technology companies for the TSX Venture 50,” said David McPhail. “The award is a testament to our corporate vision, innovative product offerings, and execution in the growing Industrial Internet of Things market. We are well positioned in IIoT and are excited about our growth opportunity in 2017 and beyond. This achievement was made possible through the continued support and confidence MEMEX received from its employees, shareholders, customers, and other business partners.”

About TSX Venture 50:

The TSX Venture 50 is an annual ranking by the TMX Group of 50 upcoming companies on the TSX Venture Exchange. The list is determined by assigning equal weighting to share price appreciation, trading volume, and market capitalization growth. The companies in the list have results in key measures of market performance.

About MEMEX:

MEMEX was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products has enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com.

Media Contacts

Memex Inc.: David McPhail, CEO

Phone: 519-993-1114

Email: david.mcphail@MemexOEE.com

 

Rashi Rathore, Marketing Manager

Phone: 905-635-3040 ext 103

Email: Rashi.Rathore@MemexOEE.com

 

Investor Relations

Sean Peasgood, Investor Relations

Phone: 416-565-2805

Email: Sean@SophicCapital.com

Click here to download the 2017 TSX Venture 50 Winners

Memex Inc. Releases Q1-2017 Financial Results

Strong Cash Position to Weather Temporary Market Disturbance

Burlington, ON, Canada – February 17, 2017 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its first quarter financial and operational highlights for its 2017 fiscal year, which ended December 31, 2016. All results are reported in Canadian dollars.

Summary Financial Highlights for the First Quarter Ended December 31, 2016:

  • Memex reported revenue of $505 thousand, 18% lower than the same quarter a year ago;
  • Gross margin of 56.7% was down from 61.1% reported the same period a year ago;
  • Bookings[i] for the quarter were $393 thousand, down 55% from the same period a year ago;
  • The Company reported a net and comprehensive loss of $763 thousand for the quarter, equating to a $0.007 loss per share.  This compares with a $641 thousand net and comprehensive loss last year, and a similar $0.007 loss per share; and
  • At December 31, 2016, the Company had $3.79 million in current assets including $3.05 million in cash and $3.00 million in working capital.  Subsequent to year-end, Memex added $171 thousand to its cash reserves through 881 thousand exercised/redeemed Shares/Warrants.

Management Commentary:

“During the first quarter, Memex saw numerous pipeline opportunities and several customers delay investment leading into the U.S. election,” said David McPhail, President and CEO of Memex.  “As a result, we onboarded fewer prospects than anticipated, but we emphasize that our discussions continue as certainty forms around the administration’s manufacturing and trade policies. Memex’s cash position remains strong, easily allowing us to weather this temporary market disturbance.”

 

Q1 2017 and Subsequent Operational Highlights:

  • The Company closed 13 follow-on orders to expand existing Customer use of MERLIN, and engaged 5 new Customers in the first quarter of 2017.
  • The Company raised another $558 thousand through the issue of Common Shares (Option exercise/Warrant redemptions).
  • Based on its recent analysis of the global machine monitoring systems market, Frost & Sullivan recognized Memex Inc. with the 2016 Global Frost & Sullivan Award for Product Leadership.
  • MERLIN Tempus, the Company’s next generation IIOT platform is nearing First Customer Ship (FCS) Status (appox. 4 weeks).

Selected Finacial Information_MEMEX_Q1 2017

About MEMEX 

Memex, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of, “Successfully transforming factories of today into factories of the future”, and encouraged by the accelerating adoption and success of MERLIN, Memex is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. Memex envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. Memex, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers Memex’s customers to effectively quantify and manage OEE, reduce costs, and incorporate strategies for continuous lean improvement.

 

For more information, please visit: www.MemexOEE.com

 

For investor inquiries please contact:

 

Ed Crymble, Chief Financial Officer

905-331-4343

ed.crymble@MemexOEE.com

 

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

 

 

Sean Peasgood, Investor Relations

416-565-2801

sean@sophiccapital.com

 

Neither the TSX Venture Exchange nor its Regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

[i] This non-IFRS financial measure is identified, defined and reconciled to the closest IFRS measure, revenue, within our Management’s Discussion and Analysis for the years ended September 30, 2016 and 2015, in the section “Other Financial Measures.”  That MD&A is available at www.sedar.com under our company profile.

Memex Inc. Releases Annual Financial Results

Record Annual Revenue and Gross Margin

BURLINGTON, ON–(Marketwired – Dec 15, 2016) –  Memex Inc. (“Memex” or the “Company”) (TSX VENTURE: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its annual financial and operational highlights for its fiscal year ended September 30, 2016. All results are reported in Canadian dollars.

Summary Financial Highlights for the Year Ended September 30, 2016:

  • Memex reported revenue of $2.91 million, 51% higher than a year ago;
  • Gross margin of 66.2% was up from 58.9% reported a year ago;
  • Bookingsi for the year were $3.42 million (with no comparative information available);
  • The Company reported a net and comprehensive loss of $2.81 million for the year, equating to a $0.028 loss per share. This compares with a $2.35 million net and comprehensive loss last year, and a $0.030 loss per share; and
  • At September 30, 2016, the Company had $4.16 million in current assets including $2.90 million in cash and $3.11 million in working capital. Subsequent to year-end, Memex added $464 thousand to its cash reserves through 2.33 million redeemed Warrants.

Management Commentary:

“2016 was a transition year where early adopters more fully understood the value of our data-driven manufacturing solutions. Additionally, customers expanded their current deployments of our platform, and new prospects were asking about enterprise wide deployment strategies,” said David McPhail, President and CEO of Memex. “At IMTS, we introduced a whole new range of next generation IIoT products, and we believe that these products will increase MERLIN’s value proposition in Cisco’s Connected Machines Strategy.”

2016 Fiscal Year End and Operational Highlights:

  • The Company issued 11.83 million shares in the fourth quarter of 2016 through the redemption of Warrants for total proceeds of $2.03 million.
  • The Company acquired 37 new customers and received 44 follow-on orders from existing customers during fiscal 2016.
  • Memex was featured at Cisco Live (Cisco’s annual technology conference), where Cisco revealed that Memex’s MERLIN platform would be part of Cisco’s Connected Machines portfolio of solutions. A key component of Cisco’s value proposition is that MERLIN facilitates the real-time calculation of Overall Equipment Effectiveness (OEE). Cisco demonstrated MERLIN’s integration in Cisco’s Connected Machines Strategy during IMTS 2016 while exhibiting in Memex’s booth.
  • Management finalized arrangements and completed the early payout of lender, Business Development Bank of Canada. The early payout eliminated future interest and royalty payments, and led to a one-time recovery adjustment of $74 thousand. Directors and Management provided most the funding to extinguish the debt by paying above market value (at the time) to redeem their expiring warrants.
  • The Company showcased a new league of next generation IIoT products. These included MERLIN Tempus, MERLIN Tempus EE, MERLIN FOEE, MERLIN MTC-One, MERLIN DNC and MERLIN Continuous Improvement Roadmap, which were launched during IMTS 2016. MERLIN OPTime, a free gateway to Real-Time manufacturing analytics, was launched at MC2 conference.
  • The Company was judged one of Canada’s “Top 20” hottest innovative public technology companies; the recipient of the Canadian Innovation Exchange (CIX) Top 20 Award. MERLIN, a next generation IIoT platform and MEMEX’s flagship product, received the 2016 Global Machine Monitoring Systems Product Leadership Award from Frost and Sullivan.

Summary Financial Highlights for Fourth Quarter Ended September 30, 2016:

  • Memex reported revenue of $806 thousand, 40% higher than the same period in the prior year;
  • Gross margin of 72.0% was up from 67.3% reported in the same quarter a year ago;
  • Bookingsi were $811 thousand, up 46% from the same quarter a year ago; and
  • The Company showed a $726 thousand net and comprehensive loss for the quarter equating to a $0.007 loss per share. This compares with a $500 thousand net and comprehensive loss in the same quarter a year ago, and a $0.005 loss per share.

Selected Financial Information

Three-month period ended
Sep 30
Year ended
Sep 30
(Canadian dollars – in thousands except per share and margin%) 2016 2015 Change 2016 2015 change
Revenue 806 575 + 40% 2,910 1,929 + 51%
Bookingsi 811 556 + 46% 3,415 Note 1
Gross margin % 72.0 67.3 + 7% 66.2 58.9 + 12%
Operating expenses 1,296 987 + 31% 4,867 3,542 + 37%
Cash utilized in operating activities2 659 467 + 41% 2,720 2,076 + 31%
Net and comprehensive loss for the period (726) (500)  45% (2,805) (2,353) 19%
Basic and diluted loss per share – period (0.007) (0.005)  39% (0.028) (0.030) + 8%

1. Memex only began collecting bookings data July 1, 2015, comparable information is not available.

2. Before changes in non-cash working capital balances.

As at September 30
(Canadian dollars – in thousands except WC ratio)
2016 2015
Cash on hand 2,899 3,316
Current assets 4,156 4,219
Total assets 4,639 4,745
Current liabilities 1,047 990
Working capital* 3,109 3,229
Working capital ratio** 3.97 to 1 4.26 to 1
Backlogi 848 409

* Working Capital = current assets – current liabilities
** Working Capital ratio = current assets / current liabilities

About Memex Inc.

Memex, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of, “Successfully transforming factories of today into factories of the future”, and encouraged by the accelerating adoption and success of MERLIN, Memex is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. Memex envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. Memex, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers Memex’s customers to effectively quantify and manage OEE, reduce costs, and incorporate strategies for continuous lean improvement.

For more information, please visit: www.MemexOEE.com

Neither the TSX Venture Exchange nor its Regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

i This non-IFRS financial measure is identified, defined and reconciled to the closest IFRS measure, revenue, within our Management’s Discussion and Analysis for the years ended September 30, 2016 and 2015, in the section “Other Financial Measures.” That MD&A is available at www.sedar.com under our company profile.

For investor inquiries please contact:
Ed Crymble, Chief Financial Officer

905-331-4343

ed.crymble@MemexOEE.com

 

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

 

 

Sean Peasgood, Investor Relations

416-565-2801

sean@sophiccapital.com

Memex MME Icon logo 2 colour white interior TM

Memex Inc. Presenting at the LD Micro “Main Event” Investor Conference

BURLINGTON, ON / ACCESSWIRE / December 1, 2016 / Memex Inc. (“MEMEX”) (TSX VENTURE: OEE) announced today that its Chief Executive Officer, David McPhail, will present at the 9th annual LD Micro Main Event Investor Conference on Tuesday, December 6, 2016 at 2:30pm Pacific Time at the Luxe Hotel in Los Angeles, California. Mr. McPhail will also meet with investors.

“Our presentation at a recent U.S.-based conference generated significant interest and resulted in numerous meetings. I am excited to share the MEMEX story with investors at the LD Micro conference,” said Mr. McPhail. “We believe the quality and breadth of tech companies attending the LD Micro Investor Conference will attract like-minded investors with whom our story will resonate.”

View Memex Inc.’s profile here: http://www.ldmicro.com/profile/OEE.V

About LD Micro

LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event).

In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe.

For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com/events for more information.

About MEMEX

MEMEX, the developer of MERLIN, an award winning IIot technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of, “Successfully transforming factories of today into factories of the future”, and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs, and incorporate strategies for continuous lean improvement.

Media Contact
Memex Inc.:
David McPhail, CEO
Phone: 519-993-1114
Email: david.mcphail@MemexOEE.com

Rashi Rathore, Marketing Manager
Phone: 905-635-3040 ext 103
Email: Rashi.Rathore@MemexOEE.com

Investor Relations
Sean Peasgood, Investor Relations
Phone: 416-565-2805
Email: Sean@SophicCapital.com

“Our Product Generates Over 300% IRR,” Says Memex’s CEO

Memex’s Merlin platform measures overall equipment effectiveness

SmallCapPower was at the Canadian Innovation Exchange’s Public Investor Day in November and had an exclusive chat with David McPhail, President and CEO of Memex Inc. (CVE:OEE). The Company’s main product, Merlin, is both a software and hardware platform product that uses three metrics to calculate overall equipment effectiveness (hence their stock symbol) and generates nearly 50% productivity improvement. Find out how Merlin helps to generate over 300% internal return rate of capital, and OEE’s plans to solidify its position as a market leader in North America.

 

Click here to watch the video interview 

“Our Product Generates Over 300% IRR,” Says Memex’s CEO

SmallCapPower was at the Canadian Innovation Exchange’s Public Investor Day in November and had an exclusive chat with David McPhail, President and CEO of Memex Inc. (CVE:OEE). The Company’s main product, Merlin, is both a software and hardware platform product that uses three metrics to calculate overall equipment effectiveness (hence their stock symbol) and generates nearly 50% productivity improvement. Find out how Merlin helps to generate over 300% internal return rate of capital, and OEE’s plans to solidify its position as a market leader in North America.

MEMEX Inc. Discusses IIoT Market, Growth Drivers, Goals and Milestones for 2016-2017 in New SNNLive Interview

LOS ANGELES, Nov. 17, 2016 /PRNewswire/ — StockNewsNow.com, The Official MicroCap News Source™, today published SNNLive Video Interview with David McPhail, President and CEO of MEMEX Inc. (TSX-V: OEE), the developer of MERLIN, an Industrial Internet of Things (IIoT) technology platform that delivers manufacturing productivity in Real-Time, according to the company’s website (see here: www.memexoee.com). The video interview was recorded on Monday, October 24th, 2016 at The MicroCap Conference 2016 in Philadelphia, PA.

Click the following link to watch the SNNLive Video Interview on StockNewsNow.com:

MEMEX Inc. – Developer of IIoT Technology Platform Delivering Manufacturing Productivity in Real-Time

You can follow Stock News Now on FACEBOOK, TWITTER, LINKEDIN, YOUTUBE, and STOCKTWITS

Please review important disclosures on our website at: http://stocknewsnow.com/legal.php#disclaimer

About MEMEX Inc.

MEMEX, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on corporate networks, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.

For more information and company description, please visit: www.memexoee.com

About StockNewsNow.com

StockNewsNow.com is a microcap financial news portal that features news and insights from the microcap and emerging growth financial community. StockNewsNow.com is a multimedia destination hub for information about microcap and emerging growth public and private companies, market events, news, bulletins, stock quotes, expert commentary and company profiles that feature SNN-produced video like SNNLive CEO video interviews, as well as their latest news and headlines. Users can engage directly and share the information provided through social media.

Follow the companies YOU want to know more about; read and watch content from YOUR favorite microcap, emerging growth financial experts; register to attend financial conferences of YOUR choosing; find microcap and emerging growth financial professionals that YOU may be looking for – all here on StockNewsNow.com.

MEMEX Inc. Discusses IIoT Market, Growth Drivers, Goals and Milestones for 2016-2017 in New SNNLive Video Interview with StockNewsNow.com

LOS ANGELES, Nov. 17, 2016 /PRNewswire/ — StockNewsNow.com, The Official MicroCap News Source™, today published SNNLive Video Interview with David McPhail, President and CEO of MEMEX Inc. (TSX-V: OEE), the developer of MERLIN, an Industrial Internet of Things (IIoT) technology platform that delivers manufacturing productivity in Real-Time, according to the company’s website (see here: www.memexoee.com). The video interview was recorded on Monday, October 24th, 2016 at The MicroCap Conference 2016 in Philadelphia, PA.

Click the following link to watch the SNNLive Video Interview on StockNewsNow.com:

MEMEX Inc. – Developer of IIoT Technology Platform Delivering Manufacturing Productivity in Real-Time

You can follow Stock News Now on FACEBOOK, TWITTER, LINKEDIN, YOUTUBE, and STOCKTWITS

Please review important disclosures on our website at: http://stocknewsnow.com/legal.php#disclaimer

About MEMEX Inc.

MEMEX, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on corporate networks, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.

For more information and company description, please visit: www.memexoee.com

 

About StockNewsNow.com

StockNewsNow.com is a microcap financial news portal that features news and insights from the microcap and emerging growth financial community. StockNewsNow.com is a multimedia destination hub for information about microcap and emerging growth public and private companies, market events, news, bulletins, stock quotes, expert commentary and company profiles that feature SNN-produced video like SNNLive CEO video interviews, as well as their latest news and headlines. Users can engage directly and share the information provided through social media.

Follow the companies YOU want to know more about; read and watch content from YOUR favorite microcap, emerging growth financial experts; register to attend financial conferences of YOUR choosing; find microcap and emerging growth financial professionals that YOU may be looking for – all here on StockNewsNow.com.

MEMEX Wins CIX Top 20 Award

BURLINGTON, ON–(Marketwired – Nov 15, 2016) – Memex Inc. (“MEMEX” or the “Company”) (TSX VENTURE: OEE) announces that the Company is the recipient of the Canadian Innovation Exchange (CIX) Top 20 Award. MEMEX was selected as one of Canada’s “Top 20” hottest innovative public technology companies. Hundreds of company profiles were reviewed and the winners were chosen by a selection committee comprised of technology experts and investors from across the country. CEO David McPhail will be making a presentation at the CIX Public Investor Day on the afternoon of November 23, between 4.00 – 4.40 pm, in Toronto at the MaRS Discovery District.

“It is an honour to win a CIX Top 20 award and be recognized as a leading Canadian innovator,” said Mr. McPhail. “I would like to thank CIX for organizing the public investor day and allowing MEMEX to share its story with investors.”

About the Canadian Innovation Exchange:

The Canadian Innovation Exchange (CIX) is a showcase for great Canadian innovation while catalyzing strategic relationships and transactions across this dynamic sector. Its objective is to bring together the key leaders and protagonists of technology-based innovation in order to learn from each other and to showcase and celebrate the tremendous innovative products, services and technologies that exist today and are providing the fuel for our economy to grow. The CIX is over three days, CIX FinTECH on Nov 21, Canadian Innovation Exchange on Nov 22 and CIX Public Investor Day on Nov 23.

About MEMEX:

MEMEX, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement. For further information, visitwww.MemexOEE.com

Media Contact                                                                                 

Memex Inc.:

David McPhail, CEO

Phone: 519-993-1114

Email: david.mcphail@MemexOEE.com

 

Rashi Rathore, Marketing Specialist

Phone: 905-635-3040 ext 103

Email: Rashi.Rathore@MemexOEE.com

 

Investor Relations

Sean Peasgood, Investor Relations

Phone: 416-565-2805

Email: Sean@SophicCapital.com