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Biotricity, News

Biotricity announces reverse stock split

Biotricity Inc. (Biotricity) today announced that it will effect a reverse stock split of its common stock.  Biotricity expects its common stock to begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the commencement of trading on July 3, 2023.  The reverse stock split was approved by the Board of Directors of the Company and is intended to increase the per share trading price of the Company’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.


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Healthcare, News

Seaspring signs definitive agreement for joint venture with Asep Inc. for regulatory approval and commercialisation of sepsis diagnosis technology in Bahrain and MENA

Pursuant to the signing of a Letter of Intent (LOI) in December 2022, Seaspring W.L.L. (“Seaspring”) and Asep Medical Holdings Inc. (“Asep Inc.” or the “Company”) have signed a definitive agreement (“agreement”) for a joint venture to advance regulatory approval and commercialization of the Company’s sepsis diagnosis technology (SepsetER TM) in the Kingdom of Bahrain and the Middle East and North Africa (MENA).  The terms of the definitive agreement include the formation of a 50/50 joint venture (name to be determined) whereby Seaspring will contribute the capital required (a near-term estimate of USD $5 million that is open-ended
and subject to change) by the joint venture to conduct its business operations (regulatory approval, sales and distribution) and Asep Inc. through its subsidiary Sepset Biosciences Inc., will provide the licensing rights for the use of the SepsetER technology in the Kingdom of Bahrain, Algeria, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen.


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News, Wedge Networks

Wedge Networks announces general availability of its innovative, Continuous Learning Analytics and Threat Intelligence Engine, WedgeIQ™ Nucleation Edition at Asia Tech Singapore

Wedge Networks (Wedge) today announced the General Availability (GA) of WedgeIQ™ Nucleation Edition, an innovative, continuous machine-learning based Security Operations, Incident, and Event Management (SIEM) and analytics engine, at Asia Tech x Singapore, Asia’s premier tech event.  Developed as a licensable component of the advanced WedgeARP™ software platform, WedgeIQ™ Nucleation Edition offers a potent response to today’s pressing cybersecurity challenges, particularly the increasingly sophisticated, never-before-seen malware that outmaneuvers current defense systems where Wedge’s patented continuous AI engines are continuously learning to respond to such attacks.


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Biotricity, News

Biotricity reaches $13M revenue run rate in April 2023 on accelerating growth

Biotricity Inc. (Biotricity) today reported that it reached a record $13 million annualized revenue run rate in April,  further extending its growth by over eight percent from the $12 million run rate it announced for March 2023.  In its Corporate Impact Report published earlier this month, Biotricity described both “better patient outcomes and substantial cost savings” for patients using its devices.


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News, Wedge Networks

Wedge Networks teams up with Edgecore Networks to offer next-generation network security WedgeCND™ Add-on now available on Edgecore ecCLOUD

Wedge Networks Inc. (“Wedge”) today announced that Edgecore Networks, a leading provider of traditional and open network solutions for enterprises, data centers, and telecommunication service providers, has partnered with Wedge Networks to offer a next-generation network security solution to its customers. Wedge Networks’ Wedge Cloud Network Defense (WedgeCND™), is a cloud-managed security service designed to provide comprehensive security protection.

 


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Biotricity, Financial Results

Biotricity reaches $12M revenue run rate in March with promising future growth ahead

Biotricity Inc. (Biotricity) reported that it reached a record $12 million annualized revenue run rate in March 2023.  Based on preliminary month-to-date results and internal projections, the Company remains excited regarding potential top line revenue growth in April and the current quarter (Q4FY23) as it maintains optimized investment in R&D, sales and marketing. The Company attributed its strengthening financials to the growing sales of its product line of remote cardiac monitors spanning consumers to cardiologists, the ramp up of its subscription-based recurring service revenues, and the early success of its recently expanded distribution strategy.


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