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News Release Digital Asset Direct

IGEN provides 2022 Year-End Results and 2023 Progress Updates

iGen Networks Corp.

McapMediaWire -- IGEN Networks Corporation (OTC: IGEN ) (CSE: IGN ), a leading innovator of solutions for the consumer automotive, fleet management, and supply-chain industries, today provides unaudited 2022 fiscal year-end financial results along with progress updates on key initiatives for 2023: For the year ended December 31, 2022, the Company recognized revenues of $318,016 an 18% increase from the previous year. Expenses for the year ended December 31, 2022, totaled $903,048 a decrease of $2,670,235 or 75%, from total expenses reported for 2021. Excluding stock-based compensation expense to our directors, operational expenses increased by 4% year-on-year. Total deferred revenue balance for year ended December 31,2022 was approximately $291,000 of which $136,000 will contribute to 2023 revenues. For the year ended December 31, 2022, the Company had a net loss of $907,598 (or ($0.00) per basic and diluted share) compared with a net loss of $3,428,937 (or ($0.00) per basic and diluted share) in 2021. Included in the net loss of $907,598, is $301,360 of other income related to the Company's gain on settlement of debt recognized in 2022. For the year ended December 31, 2022, the Company saw a net decrease in cash of $64,429. Cash used in operating activities was $978,056, an increase in cash used of 2% from the $962,960 net cash used in 2021. This was offset by net financings of $543,746 raised via private placements. During fiscal-year 2022, the Company shifted marketing focus from automotive dealerships to Credit Unions supported by Federal subsidy programs offering higher profit margins along with monthly and annual re-occurring revenues. Following the contract award for fleet management services granted by a major New York State County, the Company expanded its commercial asset management platforms with the integration of Prolog sourced technologies, a world leader in supply-chain and logistics consulting services. In addition to the renewed focus on Credit Unions and Government markets, IGEN filed Patent-Pending 17/850,250 to expand its patent portfolio to approximately 40 patent claims. Neil G. Chan, CEO of IGEN stated, "For 2023 our priorities and focus will be to leverage our exclusive channel relationships with the Association of Credit Unions Executives of Puerto Rico (ASEC), the County Executives of America, Michigan Credit Union League Service Corporation (MCULSC), and Hyperion Partners, a Master Agent for several wireless carriers in the US. We will also aggressively protect our patents along with a comprehensive review of the insurance industry and all major insurers who are billing their customers through measurement of driver behavior and performance." Intellectual Property Portfolio – as we complete our due diligence of the insurance industry and major insurers who are using driver scores as actuarial metrics for billing, protecting IGEN's patent rights will be the company highest priority in 2023. IGEN's intellectual property portfolio will focus on normalizing the "big data" elements that influence driving habits along with correcting gross errors in assessing driver performance and driver behavior. Reducing what the insurance industry refers to as "rating-errors" is the single biggest opportunity for insurance companies. With an estimated $8B of annual rating-errors attributed to demographics and historical driver data rather than actual driver data, IGEN technologies and patents will improve the accuracy of measuring driver performance and risk. With close to 40 patent claims as part of Patent No. 11,037,378 and Patent-Pending 17/850,250, IGEN's patent portfolio defines the "big data" elements essential for accurate measurements, regardless of the data source. Whether originating from mobile phones, third-party GPS devices installed in vehicles or directly from video cameras and sensors integral to electric vehicles (EV), accumulated data from a minimum of 1M access points will contribute to significant improvements in accuracy and measurement of driver performance. Consumer Product Brand focus for 2023 will market CUTrak and FamilyShield services to Credit Unions and their members through certified organizations representing specific regions across the US – namely the Association of Credit Union Executives of Puerto Rico (ASEC), comprised of approximately 90 Credit Unions and 1M members. In addition, with the successful deployment in the Upper Peninsula region, Michigan Credit Union League Service Corporation (MCULSC) is expected to expand CUTrak services amongst its members that represent approximately 80 Credit Unions located in seven districts. For each Credit Union program participant in 2023, revenue contributions are estimated to range from $48K to $120K annually per branch depending upon the number of car loans granted during the fiscal period. Commercial Fleets and Asset Management Brands Medallion GPS and Medallion PRO will be sold through our partnership agreements with Hyperion Partners and the County Executives of America (CEA). IGEN's recent award to provide Fleet Management Services to New York State Counties offers opportunity for Counties and State governments to manage their self-insured vehicles. Initial deployment for the first major County in New York State was completed in late 2022. Subsequent deployments with Counties in New York State are being finalized along with newly enlisted members for 2023. The opportunity base for IGEN Commercial Fleet Services with the CEA is estimated at 12,000 active commercial vehicles with a target market share of 30% for fiscal year 2023. About IGEN Networks Corporation IGEN Networks Corporation provides software solutions and consulting services for the consumer automotive, asset management, and supply-chain industries. The solutions enable customers to mitigate risk, improve driver safety, and increase productivity. IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTC Markets under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information, please visit: www.igennetworks.net Forward-Looking Statements This news release may contain forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities law. The terms and phrases "goal", "commitment", "guidance", "expects", "would", "will", "continuing", "drive", "believes", "indicate", "look forward", "grow", "outlook", "forecasts", "intend", and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by IGEN in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that IGEN believes are appropriate in the circumstances, including but not limited to statements regarding investment liquidity, financing options and long term goals of the Company, general economic conditions, IGEN's expectations regarding its business, customer base, strategy and prospects, and IGEN's confidence in the cash flow generation of its business. Many factors could cause IGEN's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; IGEN's reliance on key personnel; IGEN's ability to maintain and enhance its brand; and difficulties in forecasting IGEN's financial results, particularly over longer periods given the rapid technological changes, competition and short product life cycles that characterize the mobile application industry. These risk factors and others relating to IGEN that may cause actual results to differ are set forth in the under the heading "Risk Factors" in IGEN's periodic filings with the British Columbia Securities Commission and the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sedar.com or www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on IGEN's forward-looking statements. IGEN has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Contact: IGEN Networks Corporation Neil G. Chan info@igennetworks.net 1(855)912-5378 Contact Details IGEN Networks Corporation info@igennetworks.net Company Website https://www.igennetworks.net/

April 03, 2023 07:35 AM Eastern Daylight Time

Mask Acquires RARA in Big Bet on Web3 Social Protocols

Mask Network

Mask Network is thrilled to announce the acquisition of the team behind RARA, the social curation protocol. As part of the Mask ecosystem of Web3 social builders, the team will continue building apps and developer tools for RARA. “Pronounced ‘Rah rah!’ like a cheer, the goal of RARA’s protocol […] is to give a voice to a world of curators,” the Loud Paper published one year ago. "We're making it easier for people to bring their likes and interests everywhere with them on the Internet just like their NFTs," explained RARA founder Lawson Bae. "By opening up the curation graph for NFTs and moving away from centralized algorithms, we will create new opportunities for social network builders and help create a more personalized Internet where every voice can find its community.” Founded in 2017, Mask aims to build an easy-to-use bridge from Web 2.0 to the Web 3.0-era decentralized apps. Mask has been one of the earliest community members of the Bluesky protocol founded by Jack Dorsey and the Mask team is the maintainer of the most active instances of Mastodon. With funding of US$100 million, Mask has strategically invested in decentralized social networks, infrastructure, and creative content to feed its ambition of becoming the Web 3 social conglomerate building for the first billion people in Web3. "When we first saw RARA, our team was impressed by their innovative approach to letting third-parties store additional data on NFTs. So every person’s curation and comment travels with the NFT,” said Suji Yan, Founder of Mask. “It fits our Mask’s dream to liberate people from control of one company and one app. Ultimately we want to achieve a new and open internet through building and growing the decentralized social network ecosystem.” With RARA, social network and other NFT app builders can: Add live and historical commentary for NFTs with reactions, comments, and tags across all Web3 apps; Introduce new people to Web3 with free soulbound collectibles for curating called RA! like tokens; and Personalize social feeds and NFT recommendations based on each person’s likes. "Being able to engage with an NFT just like a tweet is critical to the future of the aggregated Web2 and Web3 feed in our app," said Terrence Wu, Eco Product Lead at Firefly, Mask’s newest mobile app. “We are excited to be one of the first to integrate RARA into our app while we are still in private beta.” “Joining the Mask team is everything a builder dreams about,” said Bae. “Created by builders, mission and funding to think big, and ethos aligned - for the people, by the people. It’s like we were already friends and building together all along.” About Mask Mask Network is a leader in the vibrant decentralized social network ecosystem. In 2019, Mask extension started supporting Twitter users with secure, decentralized social messaging, payment networks, file storage and sharing upon the current mainstream social media networks. As a Top 100 Market Cap project, Mask strategically invests in decentralized social networks, infrastructure, and creative contents with the goal of making Web3 more accessible to all. Learn more at mask.io. About RARA RARA is a protocol for adding social commentary to Non-Fungible Tokens (NFTs) on social apps and NFT marketplaces. Developed by RARA Social Inc, the RARA social curation protocol enables anyone to add reactions, comments, and tags to any NFT in any Web3 app. With the release of v2.0 of the protocol, all curation is now free with all curation data stored permanently on-chain and generates a free RA! Like Token, soulbound memories for curators. Learn more at rara.social. Mask Network is thrilled to announce the acquisition of the team behind RARA, the social curation protocol. The extended team is actively building a vibrant decentralized social network ecosystem for the first billion people in Web3. Contact Details Mask Network Media Contact media@mask.io Company Website https://mask.io/

April 03, 2023 07:00 AM Eastern Daylight Time

News Release

Ecoterra Crypto Presale Launches with Plans for Sustainable Web3 Recycle-to-earn App

Finance News

Ecoterra, a Web3 platform for promoting sustainability and fighting back against climate change, launched its presale and raised more than $28,000 in its first 24 hours. This eco-friendly platform aims to reward individuals and businesses for recycling while simultaneously incentivizing investment in alternative energy and tree planting projects. It’s one of the most promising blockchain-based solutions to the global issue sustainability and can be a pillar in the fight against climate change. During Stage 1 of the presale, investors can buy Ecoterra’s native ERC-20 token, $ECOTERRA, at a price of $0.004 USDT. That represents a 150% discount from the anticipated list price of $0.01. Recycle-to-earn app rewards users for green actions At the heart of Ecoterra is its innovative recycle-to-earn Web3 app. This incentivizes individuals and businesses to recycle plastic and aluminum packaging materials by paying them for each item they save from the landfill. To start earning, users simply need to scan the barcode of the items they’re planning to recycle. Ecoterra’s app contains a database of materials and will show users the reward for each item. It also has an interactive map to help users find the nearest recycling center. Once users deposit their recyclables, they can take a photo of their receipt using the Ecoterra app. Ecoterra will then credit $ECOTERRA rewards directly to the user’s wallet. Ecoterra users can also earn rewards for other green activities. For example, individuals who have solar panels installed on their home can take a photo of their electric bill and earn $ECOTERRA. Visit Ecoterra Presale Feedback loop for green investment $ECOTERRA offers appreciation potential for investors who want to hold onto it, but the Ecoterra platform encourages re-investing it in sustainability projects. The app offers a carbon offset marketplace where users can spend $ECOTERRA on carbon credits, tree planting efforts, or solar and wind energy investments. They can also spend $ECOTERRA to support education initiatives that teach the next generation about the importance of protecting the planet. The result is a sustainable feedback loop in which users recycle, earn $ECOTERRA, and then support green projects that cut greenhouse gas emissions. Crypto analysts are very bullish about this model and the long-term demand it creates for $ECOTERRA. Recyclables marketplace keeps packaging out of landfills The Ecoterra app also includes a business-to-business marketplace where companies can buy recycled materials in bulk. Purchasing managers can search and filter to find the recycled materials that fit their needs. Companies can also post orders and requests for speciality materials. Businesses can purchase recycled goods directly through the app using $ECOTERRA, Bitcoin, or fiat. This is a major advance in making it easier for companies to source recycled materials and keep their spent packaging out of landfills. Visit Ecoterra Presale Impact profiles spotlight sustainable businesses Companies can also benefit from Ecoterra thanks to the app’s public impact profiles. Consumers can see how much a company has recycled, how much $ECOTERRA it has invested in green projects, and their overall impact in the fight against climate change. This is a significant competitive advantage for eco-friendly businesses. Ecoterra empowers consumers to choose companies that match their values and care about the environment. In addition, companies can track their own packaging materials and see whether they’re being recycled by individual Ecoterra users. The analytics dashboard enables businesses to see whether specific packaging is more difficult to recycle and make changes to further reduce their carbon footprint. Presale offers a chance to lock in the lowest price for $ECOTERRA The Ecoterra presale offers investors, eco-friendly companies, and NGOs a chance to support the environment and lock in the lowest price for $ECOTERRA. The presale has allocated 50% of the total supply of 2 billion tokens and is split into 9 stages. The price will rise from $0.004 USDT in Stage 1 to $0.01 USDT in Stage 9. The presale has a hard cap of $6.7 million. Ecoterra promises to redefine how businesses approach recycling and incentivize greater investment in sustainability. $ECOTERRA is available at the Stage 1 presale price for 18 days or until tokens sell out. Visit Ecoterra Presale DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article. Contact Details Finance News Alex Brown alex@financenews.com

March 31, 2023 02:20 PM Eastern Daylight Time

News Release

DeeLance Crypto Presale Launches to Bring Freelancing & Recruiting to Web3

Finance News

Web3 freelance and recruitment marketplace DeeLance launched its presale, raising more than $27,000 in its first 24 hours. This disruptive new platform seeks to revolutionize how companies hire contract employees and freelancers. Thanks to DeeLance’s use of blockchain technology, it’s simpler, faster, and cheaper to hire the right person for every job than ever before. Early investors have 15 days remaining to lock in the lowest price for DeeLance’s native ERC-20 token, $DLANCE. The project is planning an initial exchange offering at a list price of $0.035, representing a 40% increase from today’s presale price. DeeLance takes aim at the $761 billion recruitment industry DeeLance is making waves among analysts and investors because the potential size of its disruption is enormous. The global human resources (HR) and recruitment services industry is worth an estimated $761 billion according to research firm IBISWorld. DeeLance is going toe-to-toe right from the start with publicly traded companies like Upwork and Fiverr. However, DeeLance brings significant advantages for employers and freelancers compared to these legacy recruitment platforms. First, DeeLance makes it significantly cheaper to hire. Its 2% fee for employers is the lowest of any existing marketplace. Its 10% fee for freelancers is also highly competitive. On top of that, DeeLance doesn’t hold up payments for days on end. The platform’s blockchain-backed escrow accounts protect both employers and workers from loss, but release funds instantly once work is transferred and approved. Payments can be made in cryptocurrency as well as fiat, ensuring that there are no payment delays or costly foreign exchange fees. Visit DeeLance Presale Leveraging NFTs to manage ownership over work One of the biggest challenges that existing freelance marketplaces face is transferring ownership from contract workers to employers. Contracts rarely specify who gets to keep the intellectual property rights associated with any piece of content. DeeLance cuts through the confusion by tokenizing work as NFTs. When an employer purchases work such as a piece of written content or software code, they receive an NFT representing their ownership over that work as a deliverable. This ensures that there are never questions about who owns a piece of content and there are no limits on how companies can use the work that they’ve paid for. DeeLance metaverse offers new ways to work and hire Alongside its Web3 marketplace, DeeLance is developing the first metaverse built specifically for recruitment and freelancing. The DeeLance metaverse is an integral part of this platform, not an afterthought to take advantage of the latest trends. In DeeLance’s metaverse, employers looking to hire and freelancers looking for work will be able to interact freely as avatars. Employers can set up offices to hold meetings and interviews or even purchase virtual advertising to supercharge their hiring process. Freelancers can advertise their services and network with clients to encourage repeat work. The $DLANCE token plays an essential role in this metaverse. While contracts on DeeLance can be paid in fiat or a variety of major cryptocurrencies, offices and advertising in the DeeLance metaverse can only be purchased with $DLANCE. This means that employers and freelancers who purchase $DLANCE during the presale can lock in a discount on future office space and advertising in the DeeLance metaverse. It’s an investment not only in $DLANCE itself, but also in the future of their own businesses. Visit DeeLance Presale Limited opportunity to invest in the future of hiring DeeLance is bringing together blockchain, NFTs, and the metaverse to redefine how companies hire and how freelancers find work. It offers a major leap forward over existing recruitment platforms and holds competitive advantages in price, transparency, and speed. Investors, employers, and freelancers can lock in the lowest price for the $DLANCE token during the first stage of the project’s presale. For a limited time, $DLANCE is priced at $0.025 USDT. The price will increase to $0.027 in Stage 2 of the presale and to $0.030 in Stage 3. The presale has allocated 30% of the total $DLANCE supply and has a hard cap of $6 million. Investors can purchase $DLANCE through the DeeLance presale site using Ethereum (ETH), Tether (USDT), or a credit card via Transak. Visit DeeLance Presale DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article. Contact Details Finance News Alex Brown alex@financenews.com

March 31, 2023 02:12 PM Eastern Daylight Time

To Empower Developing Countries by Blockchain Technology, MetaBank Announces Strategic Solutions at Oxford

MetaBank

Singapore-based MetaBank made its debut at the Blockchain Education Summit and Digital Civilisation conference held at Oriel College in Oxford University on 28th March 2023. MetaBank's CEO and COO shared the company's mission and latest case studies in Lao PDR. The company's core focus is to help developing countries transition to blockchain and digital civilisation, aiming to empower individuals and businesses worldwide. Founded by a team of bankers, lawyers, and researchers, MetaBank is committed to shaping the world by leveraging blockchain technology, particularly for developing countries in Asia. Developing countries in Southeast Asia, such as Lao PDR and Cambodia, have a lower economic development rate and poor infrastructure that have put their famous cultural heritage, such as Angkor Wat and the town of Luang Prabang, at risk. By applying blockchain technology, MetaBank aims to bring greater economic growth, helping these countries to achieve leapfrog development. MetaBank has developed innovative strategic solutions centred around blockchain technology, featuring three core pillars aimed at revolutionising the digital space. The first of these pillars is Digital Financial Inclusion, prioritising the provision of digital financial services to everyone, regardless of their income, social status, or location. Secondly, the Sustainable Digitisation pillar advocates for the fair and sustainable use of digital technologies to promote environmental responsibility and equitable access. The third pillar, the Digital Trust Ecosystem, prioritises secure and trustworthy digital interactions through cutting-edge technologies, policies, and practices. Blockchain technology is integral to achieving these objectives and enables improvements in digital identity, supply chain management, public services, transparency, and corruption reduction. MetaBank also uses blockchain technology to promote cultural heritage preservation and economic exchange through NFTs. Frank Sui, founder and CEO of the company, said, "I founded MetaBank to help eradicate poverty and give everyone a chance to live a better life." As an exclusive strategic partner for the Lao PDR government, MetaBank operates a national-level digital transformation project, using blockchain-powered digital assets as a viable solution to preserve the heritage of Buddhism in Lao PDR. LaoBuddhist.DAO will use NFTs to digitally promote Lao Buddhist culture around the world, create digital economic income, and increase foreign exchange reserves. The Luang Prabang Token (LPT) was issued based on the Lao national blockchain technology to improve the tourist experience by providing simple and convenient payment methods, thus preserving the national cultural heritage while promoting local economic development. MetaBank's ultimate mission is to provide financial services to those who are unbanked or underbanked. By using blockchain-based systems, local people can access financial services without needing a bank account. These projects allow people in developing countries who lack access to traditional banking systems to engage in economic activity and participate in the global economy. MetaBank's innovative solutions are set to shape the future of digital transformation and empower individuals and businesses worldwide. About MetaBank MetaBank is a company that is focused on driving digital inclusion and accelerating the transition to a digital civilisation. The company leverages blockchain technology to provide innovative solutions and financial services, particularly in developing countries in Asia. For more information, visit their website at www.MetaBank.com.sg. For Media Enquiries: press@metabank.sg Contact Details DeThings Jasmine jasmine@dethings.com Company Website https://www.metabank.com.sg/

March 31, 2023 11:56 AM Eastern Daylight Time

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FBS Ends Ultimate Trading Birthday with The Mercedes-Benz Raffle

FBS

FBS has concluded its Ultimate Trading Birthday promotion with a thrilling raffle of exciting prizes, including a luxurious Mercedes-Benz CLA-Class, premium gadgets, and more. This year, FBS celebrated its 14th birthday with a promotional event that invited traders of all levels to join the community and win guaranteed gifts. With the Mercedes-Benz CLA-Class as the grand prize, participants had a chance to test their luck in the raffle. From February 9 to March 9, over 100 000 traders joined the FBS Ultimate Trading Birthday promo. Each trader who purchased the first five tickets won a personal consultation with an FBS analyst as one of the guaranteed gifts. The consultation would provide valuable insights and effective strategies to improve trading performance. But the excitement didn't end there, as the raffle of big prizes followed soon after. On March 17, FBS announced the winners of the raffle, with a lucky client from Malaysia taking home the coveted Mercedes-Benz CLA-Class. Traders from various countries, including Indonesia, Thailand, Philippines, Vietnam, Brazil, Japan, Nigeria, and more, also won luxurious gadgets like phones, laptops, earphones, and more. FBS will prepare and deliver all prizes to the winners. Winners were announced by Andreas Thalassinos, a top trading expert, who hosted the livestream. Andreas is famous for his knowledge and charisma, while brokers from around the world respect him as a trading professional. FBS chose Andreas as one of the most trusted trading experts to host a raffle where traders of all levels of experience have an equal chance of winning. Also, it was inspiring for winners to receive their prizes from a top expert. To find the full list of the winners, visit the FBS website If you missed out on this promotion, don't worry, FBS has other exciting promotions you can join, with a new charity promotion set to launch soon. ----------------------------------------------------------------------------------------------------------------------- FBS is an international brand present in over 150 countries. Independent companies united by the FBS brand are devoted to their clients and offer them opportunities to trade Margin FX and CFDs. FBS Markets Inc. – license IFSC/000102/310 Tradestone Ltd. – CySEC license number 331/17, FCA temporary permit 808276 Intelligent Financial Markets Pty Ltd – ASIC Licence number 426359 Contact Details PR FBS +357 25 123212 support@fbs.com Company Website https://first-step-in-trading.com/?utm_source=fxstreet&utm_medium=press_release&utm_campaign=thai_success_story

March 31, 2023 10:20 AM Eastern Daylight Time

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Ink Finance: Maximum Flexibility In An Ever-Changing World

Ink Finance

By Johnny Rice, Benzinga Ink Finance helps empower DAO – decentralized autonomous organizations – creators to build and maintain their DAOs with ease, security, and flexibility. In today’s environment, flexibility is paramount. Regulations are coming – many high profile lawsuits in the space are currently pending – and the ability to stay ahead of these and adjust on the fly is a necessity for success. Ink Finance’s platform offers a plug and play approach with critical features like KYC and governance all with premium security. Learn more here: https://www.benzinga.com/markets/cryptocurrency/23/02/30705417/decentralized-not-deregulated-the-future-of-defi-is-changing-following-onslaught-of-lawsui Ink Finance is a DAO governance toolset, enabling all kinds of ecosystems to establish governance economy, manage internal finance, and connect with DeFi investors everywhere, through a no-code user experience. As a Financial SaaS built on blockchain, Ink Finance has the most comprehensive financial engineering tools to support on-chain issuance, settlement, clearing, and analysis of Non-Fungible Financial Products.Ink Finance is backed by heavy weight eco builders such as Republic Crypto and DeFi Alliance, partnered with cutting-edge solution providers such as Humanode, Astra, SolvFinance, Polytrade and deBridge, etc. Contact Details Camille Zhang camille.zhang@ufit.live

March 31, 2023 09:25 AM Eastern Daylight Time

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AmpliTech Reports FY 2022 Results; Beats Revenue Guidance and Reports Record 267% YoY Annual Revenue Increase to $19.4 Million

Amplitech Group, Inc.

McapMediaWire - AmpliTech Group, Inc. (NASDAQ: AMPG ) a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite, 5G, and other communications networks and a worldwide distributor of packages and lids for integrated circuit assembly, and designer of complete 5G/6G systems, today announced financial results for year ended December 31, 2022. The company will host an investor call on Monday, April 10 th at 4:00 PM EST. Investor Earnings Call Details Date/Time: Monday, April 10th at 4:00 pm EST Dial-in Number: 1-833-630-0019 (domestic) or 1-412-317-1807 (international) Online Replay/Transcript: Audio file and call transcript will be posted to AmpliTech’s news page when available. Investor Questions: May be submitted to investors @amplitechgroup.com prior to or during the call Full Year 2022 Highlights Revenue increased 267% to $19,394,000 in FY’22 compared to $5,275,000 in FY’21. FY’ 22 gross profit grew to $8,925,000, an almost 7-fold increase from FY’ 21 gross profit of $1,293,000. The gross profit margin increased by 2150 basis points to 46.0% compared to 24.5% a year ago. FY’22 net loss was $677,000 compared to a FY’21 net loss of $4,759,000, a positive swing of approximately $4.1 million. The net loss includes a one-time revenue earnout of approximately $816,000 as a result of Spectrum’s beating sales expectations for the years 2021 and 2022. It is important to note that without this earnout payment, the Company would have been profitable. As of December 31, 2022, cash and equivalents totaled $13,290,000 and working capital was $20,331,000, which is sufficient capital for AmpliTech to fund all of its strategic growth initiatives. AmpliTech experienced great success at trade shows such as Satellite 2022, IMS 2022, the AOC 2022, and the APS March Meeting 2022, achieving positive customer engagement and setting company records at each event for the number of meetings with new and existing customers. Customers have begun to sample AGMDC’s new MMIC chip products which have received very positive praise and feedback. Forward-Looking Update MMIC chips, or ICs, have been released to customers for testing and are expected to begin generating revenue in Q2 2023. Management expects sustained profitability going into 2023. Team is increasing sales exposure through enhanced strategic partnerships with sales representatives and distributors globally. Management Commentary Fawad Maqbool, Founder and CEO of AmpliTech, commented, “We are pleased to announce AmpliTech's annual results, with a remarkable 267% year-over-year increase in revenue. Our seamless integration of Spectrum Semiconductor and the successful launch of new initiatives, such as AGMDC’s industry leading LNAs in MMIC form and TGSS’s managed 5G system integration consulting service, demonstrate our unwavering commitment to innovation and growth. This is a continuation of our strategy to focus on increasing top-line revenue with high-margin products, which we are projecting will lead to increased bottom-line income later this year. Additionally, our industry-leading low noise amplifiers, now available in MMIC form, boast unparalleled signal-to-noise ratios, the central metric that defines the quality of an amplifier as well as the entire receiver. Our team’s relentless drive to solve engineering challenges underscores our dedication to providing cutting-edge technology to our clients. While we closely monitor the current economic situation, we are pleased to report that, at this time, we continue to have strong demand for our industry leading products. The gross profit margin’s impressive increase from 24.5% to 46.0% reflects our team’s efficiency and long-term planning strategy. As we celebrate these financial and operational milestones, we remain cognizant of the challenges posed by the lack of performant communication infrastructures. At AmpliTech, our mission is to empower companies to build the communications infrastructure that will fuel the future of technology – from AR/VR platforms and high-performance Quantum computing to 5G/6G networks providing satellite internet and beyond. Although there is still much work to be done across various industries - including satcom, telecom (5G), high-performance computing, defense, and aerospace - to achieve the connectivity speeds required by emerging technologies, we recognize the immense potential for innovation and are dedicated to developing solutions that address these challenges, enabling faster and more efficient communication systems. By continuously pushing the boundaries of communications technology, we aim to play a pivotal role in shaping the future of these industries and facilitating the realization of their full potential,” concluded Mr. Maqbool. About AmpliTech Group AmpliTech Group, Inc. designs, develops, manufactures, and distributes state-of-the-art radio frequency (RF) microwave components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. In December 2021, AmpliTech completed the purchase of the assets and operations of Spectrum Semiconductor Materials Inc. a global specialty distributor of semiconductor components based in San Jose, CA. AmpliTech has a 13+ year track record of developing high performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of our focused team's unique skills, experience and dedication, which enables us to deliver superior solutions, faster time to market, competitive pricing, excellent customer satisfaction and repeat business. For more information, please visit www.amplitechgroup.com. Safe Harbor Statement: This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: the lingering impact of the COVID-19 pandemic on the Company’s supply chain, revenues and overall results of operations, the Company's ability to execute its business plan as anticipated; trends affecting the Company's financial condition or results of operations; and the Company's growth strategy and operating strategy. The words "may" "would" "will" "expect" "estimate" "anticipate" "believe" "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, all of which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising, these forward-looking statements, except as required by applicable law. Corporate Social Media Twitter: @AmpliTechAMPG Instagram: @AmpliTechAMPG Facebook: AmpliTechInc Investor Social Media Twitter: @AMPG_IR StockTwits: @AMPG_IR Company Contact: Shan Sawant, Director of Communications AmpliTech Group, Inc. Investors@amplitechgroup.com Investor Relations Contact: Kirin Smith, President PCG Advisory, Inc. ksmith@pcgadvisory.com www.pcgadvisory.com Contact Details AmpliTech Group, Inc. Investors@amplitechgroup.com Company Website http://www.amplitechgroup.com/

March 31, 2023 09:00 AM Eastern Daylight Time

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Commercial Bakery With Its Feet In Two Leading Global Markets Gets Ready For NASDAQ IPO

Benzinga

By David Willey, Benzinga Chanson International Holding, a company that manufactures and sells baked goods, beverages and seasonable products through chain stores in the United States and China, is gearing up for an initial public offering (IPO) in the U.S. The company anticipates IPOing with 3 million Class A ordinary shares at a public offering price of $4 per share. The company will list on NASDAQ under the ticker CHSN and expects to commence trading on March 29, 2023. Chanson Holdings expects to raise approximately $15 million in aggregate gross proceeds from the IPO, before expenses. It expects the offering to close on or around March 31, 2023, provided there is satisfaction of the customary closing conditions. Money raised by the IPO will go toward opening new stores in the U.S. The company has positioned itself at the heart of the baked goods market, with bakeries in both the US and China. The global bakery product market size was $497.5 billion in 2022 and is expected to be $625.9 billion by 2028, with a compound annual growth rate (CAGR) of 3.7% during the forecast period. The U.S. and the Chinese retail baked goods markets were the largest in the sector, being worth $67 billion and $34 billion respectively in 2020, while the Chinese market is forecasted to jump 53% to $53 billion by 2025. IPO To Further Strengthen International Position Though Chanson International is headquartered in the Cayman Islands, its bakeries are located in the U.S. and China, with 33 stores for its baked goods across China, as well as two in New York City. The company anticipates opening seven new stores in China, as well as eight new US stores this year. The company expects to have 50 stores in total by this year. Funds raised by the IPO will go towards opening stores in the US. According to their investor presentation, the company made $8.5 million in revenue and $4.1 million in profit in the first half of 2022, for a gross margin of 48.5%. The company manufactures and distributes a range of bakery products and savory food as well as seasonal products and in-house beverages that combined make up its over 700 products. Some stores also include eat-in services, offering 131 menu items and bakery products. Chanson International has sophisticated distribution channels in both China and the US, including digital platforms, third-party platforms and delivery partners. In China, it has an added level of product stickiness through its membership card initiative, and as of December 2022 the company had around 582,000 members. Other companies in the bakery market include Hostess Brands (NASDAQ: TNWK) and Ephiphany Cafe, a subsidiary of Starfleet Innotech, Inc. (OTC: SFIO). This article was originally published on Benzinga here. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

March 31, 2023 09:00 AM Eastern Daylight Time

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