Memex Partners With Production Process Through Reciprocal-Reseller Arrangements

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Burlington, ON, Canada – October 26, 2023 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE), a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today announced that it has entered into reciprocal reseller agreements with software developer Production Process.  These arrangements will see Production Process, headquartered in Jacksonville Beach, Florida, add MERLIN Tempus to its product offerings to its current and future scheduling software clientele, while Memex will promote Production Process’s proven Dynamic Scheduling software solution to its customers and prospects.

Production Process intends to discontinue supplying their ProductionAce™ hardware and software and introduce their customers to the advantages offered by Memex’s MERLIN Tempus Suite and connectivity components with integration to their scheduling application.

For MERLIN Tempus users, adding the ability to schedule orders using Dynamic Scheduling’s advanced algorithms will provide them the opportunity to maximize efficiency while receiving real time updates and feedback.

Both Memex and Production Process will benefit from the expansion of their product offerings and broadening of their respective product footprints without the need for further investment in development.   Sales and customer support cross training is anticipated to be completed by the end of the calendar year and both sales teams will start offering the combined product catalogue early in 2024.

Management Commentary:

“I see this partnership as a win for both Memex and Production Process customers who will be able to take advantage of this broadened manufacturing solution set,” Production Process COO, Brad Vigrass, commented, “as well as a win for both our organizations.  By tapping into each other’s user bases we will be able to generate additional revenue with limited additional selling costs.”

About Memex Inc.:

Established in 1992, Memex grew to be an industry leader in Industry Internet of Things (IIoT) through the development of MERLIN Tempus, an award-winning platform that delivers real-time, tangible increases in manufacturing productivity.  Memex is on the leading edge of industry trends in computing power, machine connectivity, industry standards, advanced software technology, and manufacturing domain expertise.

Our persistent pursuit of innovative IIoT solutions led to a comprehensive understanding of the challenge’s manufacturers face.  We made it our mission to, “successfully transform factories of today into factories of the future.”  As the global leader in Machine to Machine (M2M) connectivity solutions, our hardware and software products create unparalleled visibility at all levels, from “Shop-Floor-to-Top-Floor.”

The MERLIN Tempus Suite provides effective quantification and management of Overall Equipment Effectiveness (OEE) by revealing hidden capacity using real-time objective data.  Further, it offers sustainable benefits that enable world-class OEE such as reducing costs, incorporating strategies for continuous LEAN improvement, and boosting bottom-line financial performance.  For more information, please visit: www.MemexOEE.com

About Production Process:

For over 35 years, Production Process has been helping manufacturing companies optimize their production environment with intelligent communicating instruments with direct operator interaction, advanced scheduling software to optimize order workflow and provide real time feedback from the shop floor as well as full shop floor analytics. The ProductionAce™ product offers standard ERP integration and Dynamic Scheduling with real time feedback to provide effective efficiency and management of the plant floor. For more information, please visit: www.ProductionProcess.com

For Investor Inquiries Please Contact:

Ed Crymble, Chief Financial Officer

905-635-1540

investor.relations@memexOEE.com

 David McPhail, President & CEO

905-635-1540

investor.relations@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.

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Achieving Successful MERLIN Deployment: The Role of a Dedicated Champion and Committed Management

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We are thrilled to introduce you to the MERLIN Tempus platform, a powerful tool that can revolutionize your shop floor operations. To ensure a successful deployment, we have observed that having a dedicated champion selected from your ranks, along with unwavering support from management and all departments, is crucial. The champion will play a pivotal role in driving the implementation forward and achieving the desired outcomes. Below is an instructional guide on how to ensure a smooth and successful MERLIN deployment:

1. Pick and Enroll Machines:
– Create an ongoing multi-phase project plan to systematically select and enroll machines into MERLIN.
– Prioritize machines based on their criticality to value streams and operational efficiency.

2. Address Problematic Machines:
– Identify any problematic machines and create corrective action tickets for targeted improvements.
– Do not let issues curtail the overall deployment plan; address them in parallel with other activities.

3. Setup Views and Reports:
– Configure MERLIN to generate customized views and reports that align with the specific needs of your organization.
– Tailor the reports to provide actionable insights for different departments.

4. Introduce MERLIN to Everyone:
– Organize workshops and training sessions to familiarize all personnel with MERLIN, its features, and benefits.
– Ensure that employees understand how to utilize the platform to enhance their productivity.

5. Collaboration with Each Department:
– Work closely with each department to understand their objectives and requirements.
– Guide them through the process of selecting, enrolling, configuring, and generating data to meet their goals.

Specific Activities for Each Department:

a. Production:
– Generate throughput reports and delivery reports for performance analysis.
– Validate and update product standard cycle time, setup time, and material conveyance time in the ERP system.
– Establish data-driven strategies to manage human resources effectively.

b. Quality:
– Capture and analyze quality data, focusing on reject information and first piece run-off inspection tracking.
– Implement RED Tag QC disposition ticketing for efficient quality management.
– Institute traceability measures to monitor and enhance product quality.

c. Maintenance:
– Utilize runtime/cut time accumulators and triggers to inform maintenance teams proactively.
– Integrate E-alerts or email messaging for rapid response to maintenance needs.
– Incorporate scheduled maintenance tickets into the MERLIN job scheduler.

d. Engineering:
– Introduce Continuous Improvement (CI) tools, including GEMBA view, MPMM, Multi-machine State Summary View, Plant View, and Tooling View.
– Utilize ticketing for effective CI project management and issue resolution.
– Evaluate part-to-part time for identifying minor stoppages and implementing improvements.

The Vital Role of a MERLIN Champion:

Gentlemen, it cannot be emphasized enough that the success of the MERLIN deployment heavily relies on having a dedicated champion to drive the initiative forward. The champion will be instrumental in coordinating efforts, resolving challenges, and ensuring that the platform is seamlessly integrated into your daily operations. With a committed champion and management buy-in, you can create the necessary momentum to achieve outstanding results with MERLIN.

In conclusion, all the activities mentioned above are indeed doable and well within the scope of the MERLIN platform. We encourage you to select a champion from your ranks and garner support from all departments to embark on this transformative journey successfully.

If you have any questions or require further assistance, please do not hesitate to reach out to our team. We are here to support you every step of the way.

MEMEX - Measuring Manufacturing Excellence Logo

Annual General Meeting 2023

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Memex Inc. Reports Q2-2022 Results

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BURLINGTON, ON / ACCESSWIRE / May 26, 2022 / Memex Inc. (“Memex” or the “Company”) (TSX-V:OEE), a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, released financial and operational highlights for its second quarter ending March 31, 2022. All results are reported in Canadian dollars. A complete set of its March 31, 2022 Condensed Interim Consolidated Financial Statements and Management’s Discussion & Analysis has been filed at www.sedar.com.

Summary financial highlights for the three-months ended March 31, 2022:

  • Revenue of $473 thousand versus $878 thousand in the year-ago quarter, a 46% decline which continues to be attributed in part to customer delays in delivery now anticipated to be completed in the third and fourth quarter of this year;
  • Bookingsi, totalled $425 thousand, a 51% decline from the $867 thousand in the year-ago period;
  • Finished the quarter with $933 thousand in project backlogii, up 81% from September 30, 2021;
  • Gross margin was 66.5% for the period compared to 83.1% for the year-ago period;
  • Cash consumed from operations (before changes in non-cash items) of $197 thousand was $391 thousand worse than the $194 thousand generated from operations in the year-ago period;
  • Loss from operations of $244 thousand versus $185 thousand income in the year-ago period;
  • Net and comprehensive loss of $279 thousand ($0.002 per share) was $420 thousand worse than the $141 thousand net and comprehensive income for the same period a year ago; and
  • $224 thousand in working capital (excluding unearned revenue) at March 31, 2022 is $485 thousand lower than the $709 thousand at September 30, 2021; cash on hand of $578 thousand is down 18% from the $709 thousand on hand at September 30, 2021.

Summary financial highlights for the six-months ended March 31, 2022:

  • $974 thousand in revenue was a 33% decline from the $1.45 million in the year ago period (which was the highest ever 6-month result);
  • Bookingsi totalled $1.39 million versus $1.35 million in the same period a year ago, a 3% increase;
  • Gross margin was 71.8% compared to 80.6% for the year-ago period;
  • Cash consumed from operations of 2022 (before changes in non-cash items) of $328 thousand was $437 thousand less than the $109 thousand generated in the first six months of fiscal 2021; and
  • Net and comprehensive loss of $457 thousand ($0.003 per share) was $468 thousand worse than the $11 thousand in income generated for the same period a year ago.

Management commentary:

“Delays in customer deliveries affected our top-line revenue and overall results,” said Memex CEO David McPhail. “However, we have re-organized our service delivery process, better positioning the Company to return to profitability. More prospects and customers are investigating onshoring strategies and enquiring about how Memex can improve potential future costs.”

Selected financial information:

For the
Three-months periods ended
March 31
Six-months periods ended
March 31
(Canadian dollars – in thousands except per share and margin%)
 2022 2021 Change 2022 2021 Change
Revenue
 473 878 – 46 % 974 1,448 – 33 %
Bookingsi
 425 867 – 51 % 1,385 1,345 + 3 %
Gross margin %
 66.5 83.1 – 20 % 71.8 80.6 – 11 %
Operating expenses
 558 544 + 3 % 1,085 1,077 + 1 %
Cash provided (utilized) in operations1
 (197 ) 194 – 202 % (328 ) 109 – 401 %
Net & comprehensive income (loss) – period
 (279 ) 141 – 298 % (457 ) 11 – 4255 %
Basic & diluted income (loss)/share – period
 (0.002 ) 0.001 – 290 % (0.003 ) 0.000 – 3833 %
  1. Before changes in non-cash working capital balances.
As at
(Canadian dollars – in thousands except WC ratio)
 March 31, 2022 September 30, 2021
Cash on hand
 $ 578 $ 709
Current assets
 968 1,139
Total assets
 1,336 1,569
Current liabilities
 1,926 1,305
Working capital* (excl. unearned rev)
 224 709
Working capital ratio**
 1.3 to 1 2.65 to 1
Backlogii
 $ 933 $ 515

* Working Capital = current assets – current liabilities less unearned rev

** Working Capital ratio = current assets / current liabilities less unearned rev

About Memex Inc.:

Established in 1992, Memex grew to be an industry leader in Industry Internet of Things (IIoT) through the development of MERLIN Tempus, an award-winning platform that delivers real-time, tangible increases in manufacturing productivity. Memex is on the leading edge of industry trends in computing power, machine connectivity, industry standards, advanced software technology, and manufacturing domain expertise.

Our persistent pursuit of innovative IIoT solutions led to a comprehensive understanding of the challenge’s manufacturers face. We made it our mission to, “successfully transform factories of today into factories of the future.” As the global leader in Machine to Machine (M2M) connectivity solutions, our hardware and software products create unparalleled visibility at all levels, from “Shop-Floor-to-Top-Floor.”

The MERLIN Tempus Suite provides effective quantification and management of Overall Equipment Effectiveness (OEE) by revealing hidden capacity using real-time objective data. Further, it offers sustainable benefits that enable world-class OEE such as reducing costs, incorporating strategies for continuous LEAN improvement, and boosting bottom-line financial performance. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

Ed Crymble, Chief Financial Officer

905-635-1540

investor.relations@memexOEE.com

 David McPhail, President & CEO

905-635-1540

investor.relations@memexOEE.com

Sean Peasgood, Investor Relations
647-977-9264
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.

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i & ii These non-IFRS financial measures are identified, defined and reconciled to their closest IFRS measures, revenue and unearned revenue, within our Management’s Discussion and Analysis for the periods ended March 31, 2022, and 2021, in the section “Other Financial Measures.” That MD&A is available at www.sedar.com under our company profile.

MEMEX - Industry 4.0

[Blog] What’s a micro-stop, and how is it important to you?

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MERLIN Tempus provide this level of comprehensive flexibility right out of the box. The ability of a system to infer a state based on occurring states and standards removes a level of operator dependence. The antiquated operator-centric data collection approach is inherently inaccurate because events are recorded after the fact and are usually very subjective. Realtime operator classifications of machine impacting states are faster, simpler, controlled and accurate because the machine initiates the state change based on an autonomous event and applied logic.

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