CALGARY, ALBERTA, May 7, 2020, ICEsoft Technologies Canada Corp. (the “Corporation” or the “Company” or “ICEsoft”) is pleased to announce its consolidated financial results for the years ended December 31, 2019 and 2018. Detailed results and Management’s discussion and analysis are now available on SEDAR.
Annual highlights are as follows:
- ICEsoft’s new Voyent Alert! service is now used by 86 Canadian municipalities as of December 31,
2019, 125 Canadian municipalities as of April 30, 2020.
- The Company continues to deploy capital to achieve Voyent Alert! sales traction
- The Company completed a restructuring and capital raise subsequent to year end that has reduced
balance sheet liabilities by $1.2 million and increased cash by a further $1.2 million.
- ICEsoft continues to operate with a burn of approximately $50,000 CAD per month
“We are excited about the traction we are seeing with our new Voyent Alert! Notification Service. Customer feedback continues to be exceptional and we are currently experiencing a 100% renewal rate on all our municipal clients. We look forward to its anticipated contribution to our top and bottom lines.” stated Brian McKinney, President and CEO.
About ICEsoft Technologies Canada Corp.
ICEsoft Technologies Canada Corp. is a software-as-a-service (“SaaS”) company. ICEsoft’s newest product Voyent Alert! is an affordable Community Alerting Service specifically designed to meet the needs of small to medium sized municipalities, regional governments and campuses. The flexible platform serves the dual purpose of alerting and advising residents during a critical incident as well as providing targeted day-to-day communication services.
For more information, please contact:
Chief Executive Officer