Zonetail Inc. Reports Q1 Results
Toronto, Canada--(Newsfile Corp. - May 24, 2019) - Zonetail Inc. (TSXV: ZONE) (the "Company" or "Zonetail") is pleased to report its financial and operational results for the first quarter ended March 31, 2019. These filings are available for review on the Company's SEDAR profile at www.sedar.com.
First Quarter 2019 Highlights:
Zonetail continues to drive sales for its mobile platform through strategic alliances and beneficial partnerships. During the quarter the Company announced the launch of its mobile platform for condominiums in partnership with the property management software company Shiftsuite, thus expanding access to the Company's mobile platform to upwards of 400 000 condo units throughout Canada.
The Company's net loss of $553,843 for the three months ended March 31, 2019, compared to $294,540 for the three months ended March 31, 2018 is primarily due to an increase in business development and salaries expense. Professional fees increased due to costs associated with the Company going public.
Interest and accretion decreased by $116,928 for the three months ended March 31, 2019. As the Company converted all convertible debentures during the year ended December 31, 2018, there was no associated interest and accretion expense in the three months ended March 31, 2019.
- Zonetail launched its hotel mobile platform in six additional US cities (Dallas, San Antonio, Austin, Houston, Orlando, and San Diego) in partnership with the Asian American Hotel Owners Association (AAHOA), the largest association of hotel owners in the world.
- The Company partnered with Bluedot, a leading provider of first-person location data, to improve personalized customer engagement through Zonetail's hotel and condo mobile platforms. Bluedot's technology provides real-time physical context along with tracking attribution, ROI, and increased analytics to Zonetail's suite.
- The Company formed a strategic partnership with SEL Global to explore business opportunities within the $2 Trillion-dollar Smart City marketplace. Zonetail's mobile platform, augmented by Sel Global's mobile advertising software, better connect clients to mobile customers as they move from point to point.
- The Company introduced a transaction based revenue stream, adding to its advertising revenue. This model is evident in its partnership with Foodora, the popular on-demand food pick-up and delivery service, where food pick-up and delivery for Canadian hotel guests and condo residents are personalized.
Zonetail Inc. (TSXV: ZONE) is a mobile platform for hotels and condominiums providing guests and residents access and interaction with building amenities and services as well as neighboring restaurants, stores, services, and attractions. Zonetail is partnered with AAHOA, the largest association of hoteliers in the world, representing over 25,000 hotels and 50% of the US market. Zonetail is also partnered with Shiftsuite, one of the largest property management system software providers to the condo industry in Canada, with approximately 2,000 condo buildings, representing an estimated 400,000 units. Zonetail has offices in Toronto, Ontario and San Dimas, California.
For more information please visit https://zonetail.com/
Mark Holmes, President and Chief Executive Officer
Telephone: (416) 583-3773 ext. 228
This press release contains forward-looking statements that relate to Zonetail's current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "aim", "estimate", "intend", "plan", "seek", "believe", "potential", "continue", "is/are likely to" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Certain matters discussed in this announcement contain statements, estimates and projections about the growth of Zonetail's business, potential distribution partnerships and/or clients, and related business strategy. Such statements, estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Factors or events that could cause our actual results to differ may emerge from time-to-time. Zonetail undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are based on certain assumptions and analysis made by Zonetail in light of its experience and perception of historical trends, current conditions and expected future developments and other factors Zonetail believes are appropriate, and, are subject to risks and uncertainties. Although Zonetail believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, prospective purchasers should not place undue reliance on these forward-looking statements.
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