Posts

MEMEX - Measuring Manufacturing Excellence Logo

MEMEX Engages Sophic Capital for Capital Markets Services

/in

BURLINGTON, ON – (January 11, 2016) ­­– MEMEX Inc. (MEMEX) (TSX VENTURE: OEE) announced today it has appointed Sophic Capital Inc. (Sophic Capital) as its Investor Relations (IR) firm. Sophic Capital is a comprehensive capital markets advisory firm for companies in the technology sector, and will focus on increasing investor awareness of MEMEX by developing a relevant communications strategy and introducing MEMEX to appropriate investment advisors, investment dealers, institutions and other financial professionals.

“We welcome Sophic Capital as our new IR partner to tell our story to its extensive base of institutional and retail investors,” said David McPhail, CEO of MEMEX. “Leading with our flagship software product, the MERLIN shop-floor-to-top-floor communications platform, MEMEX achieved 115% revenue growth in 2015. In 2016, we look forward to leveraging Sophic’s capital markets expertise to help communicate our growth strategy and Industrial Internet of Things (IIoT) technology roadmap to the entire investment community.”

“We are thrilled that MEMEX has selected Sophic Capital to execute its capital markets and investor relations strategies,” said Sean Peasgood, CEO of Sophic Capital. “According to research firm IDC, the Internet of Things market for manufacturing operations will grow to $98.8 billion by 2018. Growth will be driven by ongoing efforts to increase efficiency and link islands of automation – which is precisely MERLIN’s mission. MEMEX is quickly becoming a leader in manufacturing productivity software, and is well positioned for growth organically and through its partnerships with leading machine vendors and networking equipment manufacturers.  MEMEX has all of the characteristics that we look for in a quality, disruptive technology company and we look forward to communicating this to the investment community“.

MEMEX’s engagement with Sophic Capital is for a term of 12 months, subject to an automatic renewal for an additional 12 months, on a fee for services basis of $6,000 per month. In addition, Sophic has been granted options to purchase up to 250,000 shares of Memex at a price of $0.18 per share.  The options will vest quarterly in four tranches of 62,500 each during the term of the contract starting April 1, 2016 and will expire on the earlier of (i) 90 days after termination of the engagement and (ii) January 1, 2019. The options are governed by the provisions of the Company’s stock option plan and the policies of the TSX Venture Exchange.

ABOUT MEMEX INC.

MEMEX Inc. is a leading Industrial Internet of Things (IIoT) technology platform provider that connects to any machine and delivers real-time manufacturing productivity analytics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop floor to top floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE). It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect or hardware adapters for older machines. 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.

 

Contact Information

Sean Peasgood, Investor Relations

Sophic Capital Inc.

(416) 565-2805

Sean@SophicCapital.com

 

David McPhail, CEO

MEMEX Inc.
(519) 993-1114

David.McPhail@MemexOEE.com

 

Nathan Rudyk, VP Marketing

MEMEX Inc.
(613) 406-3939

Nathan.Rudyk@MemexOEE.com

 

 

 

MEMEX - Measuring Manufacturing Excellence Logo

MEMEX Inc. Releases Fiscal 2015 Year End Results with Record Annual Revenue 115% Higher Than the Previous Year

/in ,

Burlington, ON, Canada – December 17, 2015 – Memex Inc. (“Memex” or “the Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial results and operational highlights for its year ended September 30, 2015.

Financial Highlights for the Year Ended September 30, 2015:

Memex generated record revenue of $2.1 million, $1.1 million or 115% higher than the prior year.

Memex achieved record gross margin of $1.3 million, 200% higher than the prior year.

Unearned revenue of $582 thousand closed the year at a record high, $129 thousand or 28.5% higher than the previous high at September 30th 2014.

The Company showed a $2.4 million net and comprehensive loss for the year equating to a $0.030 loss per share.  This compares with a $2.1 million net and comprehensive loss and a $0.040 loss per share in 2014.

Memex qualified for up to $800 thousand in Government of Canada funding through FedDev Ontario’s Investing in Business Innovation (“IBI”) initiative.

Financial Highlights for the Quarter Ended September 30, 2015:

Memex generated quarterly revenue of $575 thousand, a $373 thousand or 179% increase when compared to Q4-2014, and $124 thousand more than Q3-2015.

The quarterly loss from operations of $600 thousand was down $153 thousand from $753 thousand for the same period a year ago, and $266 thousand less than the $866 thousand reported Q3-2015.

Operational Highlights for the Year:

Memex sold its flagship software product, MERLIN, to 32 new manufacturing enterprise customers in Canada, Mexico, the United States and Australia including Lynch Fluid Controls Inc., Koss Aerospace Ltd., Industrial B&S de Mexico SA de CV, FM Industries Inc., ANCA Pty Ltd., The Oilgear Company and Milwaukee Electric Tool Corporation.

In August 2015 Memex was invited by Mazak Corporation, a global machine tool leader, to join its exclusive Value Inspired Partner (VIP) program. Memex is the only such partner offering software in its category.

Memex acquired the intellectual property and other related assets of Dostek Incorporated and engaged its President, Doug Struthers, in the role of Merlin Direct Numerical Control (DNC) Architect to bolster Merlin’s DNC product capabilities.

Commencing January 2015 Memex focused its own Partner Channel program on relationships and future business potential with three of its largest partners: Mazak, Okuma, and Mazak Optonics.

Management Commentary:

Memex’s President & CEO David McPhail stated, “We are very proud of our accomplishments during fiscal 2015, and our team is focused on achieving even greater growth. More than 90% of manufacturers today run their factories without IIoT software and our job is to turn them on to MERLIN’s well-documented return on investment.  I commend each and every one of our employees for their contributions to this record year. And all of us want to thank our new and existing manufacturing customers for placing their trust in us as they take advantage of MERLIN software’s productivity promise.”

Memex’s Vice President of Sales John Rattray stated, “We have expanded MERLIN’s global customer footprint, continued investment in the development of our direct sales and partner channels, and achieved success with key partners. As well as customer expansion, we have immense potential within our existing install base.  All of this progress is reflected in the numbers reported. The Industrial Internet of Things is a desirable concept to many advanced manufacturing firms. To MERLIN customers however, it’s an achievable, real-time reality with fast payback.”​

About Memex Inc.

Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that connects to any machine and delivers real-time manufacturing productivity metrics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE). It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect or hardware adapters for older machines. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

Ed Crymble, Chief Financial Officer

905-635-1540 ext. 110

ed.crymble@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.

Memex Automation Closes $3.9 Million Private Placement

/in

Burlington, ON, Canada – June 3, 2015 – Astrix Networks Inc., operating as Memex Automation (TSX-V:OEE) (“Astrix,” “Memex” or the “Company”), is pleased to announced that, subject to receipt of final acceptance of the TSX Venture Exchange, it has closed its previously announced non-brokered private placement (the “Private Placement”). Pursuant to the Private Placement, Astrix issued 25,865,433 units at a price of $0.15 per unit for aggregate gross proceeds of $3,879,815.  Each unit (a “Unit”) is comprised of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase warrant.  Each whole Warrant comprised of two half warrants  (a “Warrant”) entitles the holder to purchase one Common Share at a price of $0.25 per share at any time prior to 5:00 p.m. EDT on June 2, 2017.  The net proceeds of the private placement will be used for general working capital to advance the Company’s business plan.

The Company engaged Primary Capital Inc. (“Primary”) to manage the Private Placement. The Company has paid finders’ fees to Primary and other brokers equal to 8% of the proceeds raised via brokers ($273,384 in finders’ fees). The Company has also issued broker warrants (the “Broker Warrants”) equal to 8% of the number of Units sold via brokers (1,822,560 Broker Warrants).  Each Broker Warrant entitles the holder to purchase one Unit at a price of $0.15 at any time prior to 5:00 p.m. EDT on June 2, 2017. 

The Common Shares and Warrants issued in connection with the Private Placement will be subject to a four-month hold period from the closing date, as prescribed by the TSX Venture Exchange and applicable securities laws.  The Private Placement may close in one or more tranches. 

About Memex Automation:

Astrix Networks Inc., (TSX-V:OEE), operating as Memex Automation, provides award-winning software to measure Machine to Machine (M2M) productivity and Overall Equipment Effectiveness (“OEE”) in real-time. MERLIN (Manufacturing Enterprise Real-time Lean Information Network) generates OEE metrics for each machine in every plant. MERLIN is used by leading machine tool companies as a complete shop floor communications platform. For more information, please visit: www.memex.ca.

Media Contacts

Leanne Rattray, Communications Specialist
Phone: 905-635-1540 ext. 103
Email: leanne.rattray@memex.ca

David McPhail, CEO
Phone: 519-993-1114
Email: david.mcphail@memex.ca

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.

To see the full press release, please click here.

Proposed Private Placement for Memex Automation Oversubscribed; To be Increased to Approximately $3.9 Million

/in

Burlington, ON, Canada – June 1, 2015 – Astrix Networks Inc., operating as Memex Automation (TSX-V:OEE) (“Astrix,” “Memex” or the “Company”), is pleased to announced that its previously announced non-brokered private placement has received subscriptions for an amount significantly greater than the originally contemplated offering size of $2,500,000. As such, the Company has decided to increase the offering to be for aggregate gross proceeds of not more than $3,900,000 (the “Private Placement”). Pursuant to the Private Placement, Astrix will issue up to 26,000,000 units at a price of $0.15 per unit.  Each unit (a “Unit”) is comprised of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase.  Each whole Warrant, comprised of two half warrants (a “Warrant”), entitles the holder to purchase one Common Share at a price of $0.25 per share at any time prior to 5:00 p.m. EST on the date that is twenty-four months following the closing date of the Private Placement.

In connection with the Private Placement, the Company has entered into an agreement with Primary Capital Inc. “Primary”) whereby they will manage the Private Placement. The Company will pay finders’ fees on certain subscriptions to Primary and any other brokers, equal to 8% of the proceeds raised via brokers and issue broker warrants (the “Broker Warrants”) equal to 8% of the number of Units sold.  Each Broker Warrant entitles the holder to purchase one Unit at a price of $0.15 at any time prior to 5:00 p.m. EST on the date that is twenty-four months following the closing date of the Private Placement.

The Common Shares and Warrants issued in connection with the Private Placement will be subject to a four-month hold period from the closing date, as prescribed by the TSX Venture Exchange and applicable securities laws.  The Private Placement may close in one or more tranches.  The closing of the Private Placement is subject to receipt of subscription agreements from suitable investors and receipt of TSX Venture Exchange approval.

About Memex Automation:

Astrix Networks Inc., (TSX-V:OEE), operating as Memex Automation, provides award-winning software to measure Machine to Machine (M2M) productivity and Overall Equipment Effectiveness (“OEE”) in real-time. MERLIN (Manufacturing Enterprise Real-time Lean Information Network) generates OEE metrics for each machine in every plant. MERLIN is used by leading machine tool companies as a complete shop floor communications platform. For more information, please visit: www.memex.ca.

Media Contacts

Leanne Rattray, Communications Specialist
Phone: 905-635-1540 ext. 103
Email: leanne.rattray@memex.ca

David McPhail, CEO
Phone: 519-993-1114
Email: david.mcphail@memex.ca

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.

To see the full press release, please click here.

Astrix Networks Inc. reports record revenue for the six-month period ended March 31, 2015

/in

Burlington, ON, Canada – May 14, 2015 – Astrix Networks Inc. (“Astrix”), operating as Memex Automation (“Memex”) (TSX-V: OEE), the global leader of manufacturing M2M productivity software, released its financial results and operational highlights for its second quarter ended March 31, 2015.

Astrix generated record revenue of $1.03 million for the six months ended March 31, 2015, compared to $576,000 for the six-month period ended March 31, 2014. This represents a 79% increase year over year.

Gross profit for the six-months ended March 31, 2015 totaled $651,000 compared to $368,000 for the six-months ended March 31, 2014. This represents an increase of $283,000 or 77% from the prior year period.

Net loss for the six-months ended March 31, 2015 was $973,000 as the company continued building out its sales force and latest product development. This compares to a loss of $651,000 for the six-months ended March 31, 2014.

Highlights from Q2 2015

  • Reported revenue of $490,000, a 21.5% year over year increase.
  • Orders (excluding component sales) received in the quarter totaled $486,000, an increase of 94% year over year.
  • 15 new customer wins, 4 through partner distribution channels, in the quarter vs. 5 customer wins in the same period last year.
  • First complete plant installation win in Mexico at Industrial B&S.
  • Received approval for up to $800,000 of interest free government financing through FedDev Ontario (Investing in Business Innovation Program) just after quarter end.  Proceeds will be used to fund and commercialize the Company’s latest version of MERLIN.

Company President, David McPhail, provided comment on Astrix continuing to build on its record revenue levels. “We are thrilled with the volume of orders that keep coming in, and the continuing customer adoption of our MERLIN shop floor communication platform strategy.  Orders received since quarter-end are also very encouraging.”

About Memex Automation:

Memex Automation provides award winning software to measure Machine to Machine (M2M) productivity and Overall Equipment Effectiveness (“OEE”) in real-time. MERLIN (Manufacturing Enterprise Real-time Lean Information Network) generates OEE metrics for each machine in every plant. MERLIN is used by leading machine tool companies as a complete shop floor communications platform. For more information, please visit: www.memex.ca.

Media Contacts

Leanne Rattray, Communications Specialist
Phone: 905-635-1540 ext. 103
Email: leanne.rattray@memex.ca

David McPhail, CEO
Phone: 519-993-1114
Email: david.mcphail@memex.ca

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.

To see the full press release, please click here.