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Urbanimmersive Announces Its 2022 Second Quarter Financial Results

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SAINT-HUBERT, Quebec, May 26, 2022 (GLOBE NEWSWIRE) — Urbanimmersive Inc. (“Urbanimmersive,” the “Company” or “UI”) (TSV-V UI) (OTCQB: UBMRF) today announced select financial results and presents business highlights for its second quarter ended March 31, 2022. The financial statements and related management’s discussion and analysis (“MD&A”) can be viewed on SEDAR at https://www.sedar.com/.

HIGHLIGHTS

  • For its second quarter of 2022 (Q2-22), the Company generated total revenues of $2,182k compared to $982k for Q2-21, an increase of $1,200k or 122%;
  • For Q2-22, the Company sold 3,806 immersive 3D tours compared to 1,122 tours in Q2-21, an increase of 2,684 tours or 239%;
  • In an unfavorable real estate market, in particular with historical-low inventories and number of transactions down 20% over last year combined with high sales turnover, the Company managed to maintain its transactional photography service revenues at last year’s level while continuing to migrate its customers to a monthly subscription model;
  • Following the end of the low season as of March 31, 2022, the Company had liquidities totaling $1.2m, a similar level to December 31, 2021 ($1.3m);
  • During Q2-22, the Company has integrated the newly acquired real estate photography agencies into its business solution platform for photographers while developing and launching an innovative online ordering system along with a route optimization tool, an in-house photo editing service based in France and a centralized and automated payroll system for all its pay-per-job employees/freelancers.

SELECTED FINANCIAL INFORMATION

  Three-month
period ended
March 31,
2022
Three-month
period ended
March 31,
2021
Six-month
period ended
March 31,
2022
Six-month
period ended
March 31,
2021
  In thousands $ In thousands $ In thousands $ In thousands $
Revenues 2,182 982 3,177 1,880
COGS and direct charges 943 318 1,382 648
Gross margin
(before amortization)
1,192 664 1,748 1,232
Amortization 312 158 561 332
Operating expenses 1,508 595 2,376 1,121
EBITDA* (68) 153 (240) 262
Other expenses 128 461 163 1,660
Net income (loss) (981) (551) (1,578) (1,883)
Basic net income (loss) per share (0.02) (0.03) (0.04) (0.10)

* For Q2-22, EBITDA has been adjusted for business acquisition costs ($20k) and non-cash items with respect to share and share-based payments ($228k). For the first 6 months of 2022, EBITDA has been adjusted for business acquisition costs ($53k), restructuring costs ($60k) and non-cash items with respect to share and share-based payments ($275k). For Q2-21, EBITDA has been adjusted for non-cash items with respect to share and share-based payments ($84k). For the first 6 months of 2021, EBITDA has been adjusted for subsidiary incorporation costs ($17k), legal fees incurred for listing on the OTCQB market ($17k) and non-cash items relates to share and share-based payments ($152k).

ACHIEVEMENTS

“During the quarter, we put a lot of effort into integrating all the photography service businesses acquired over the past few months. This integration process notably includes the development and the launch of an online ordering system including a route optimization tool, an internal photo editing service in France and a retribution system for our pay-per-job employees and freelancers (photographers, 3D modelers and photo editors), all this in order to increase our productivity, allow the Company to track performance in real time and increase profitability generated for every single order. We also continued to improve our monthly subscription package including UiMeet3D and the migration of our photography service businesses into our integrated business solution for real estate photographers. We also continued to add some artificial intelligence into the production of our 3D tours and floor plans.

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All these significant improvements now allow Urbanimmersive Group to offer a very unique business solution for real estate photographers both in term of all its functionalities or its efficiency (productivity gains) and this, 100% managed in-house. The strong demand for our 3D tours and the success to date in the sale of our monthly subscription packages to real estate brokers further confirm our good strategic positioning and our unique competitive advantage. However, although we are still navigating in a seller’s real estate market combined with a number of listings and transactions near historical lows throughout North America and which directly impacts Urbanimmersive’s revenues, those recent significant progress give us full confidence on the promising future of the Group,” said Ghislain Lemire, President and CEO of Urbanimmersive.

The Company has also issued 113,829 shares at a price of $0.235 to some Officers and employees as variable compensation covering the most recent quarter.

TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.

Investor Video Conference Call

UI will be hosting a video conference to discuss those second quarter financial results and answer questions at 1p.m. (ET) on Thursday, May 26, 2022. To participate to the video conference, please use the following link: https://urbanimmersive.zoom.us/j/82214077104

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About Urbanimmersive

Urbanimmersive develops and commercializes real estate photography technologies and services focused on redefining industry visual content standards. The Company all-in-one platform enables high-volume photography businesses to increase operational productivity delivering feature-rich 3D tours and floor plans, leading-edge property websites and high-resolution AI-indexed images. The Company operating segments include software (SaaS), 3D photography equipment and, in a growing number of North American cities, technology-powered real estate photography service business units leading the industry photo-shoots standards transformation. Learn more at urbanimmersive.com.

Caution of Forward-Looking Statements

Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management estimates or opinions change.

For more information, please contact:

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Urbanimmersive Ghislain
Lemire President & CEO
514-394-7820 X 202
[email protected]

Simon Bédard, CA, CPA, CFA, MBA
Chief Financial Officer
514 394-7820 X 224
[email protected]

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Artificial Intelligence

Legal Operations Leaders and General Counsels to Discuss Business-Critical Challenges at Legal Operations Exchange 2024

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LONDON, Sept. 30, 2024 /PRNewswire/ — The Legal Operations Exchange is set to return to the Hilton Syon Park in London for its third edition this 4-5 December. Bringing together 60 Legal Operations Leaders and General Counsels for two days of learning, discussion and networking, attendees will discover new solutions to their unique challenges and gain insight on effectively leveraging data and technology for efficiency gains and positioning the legal team at the heart of the organisation.

Given the progress in data analytics and generative AI solutions, the call to modernise and innovate in-house legal departments has never been more pressing. As the stewards of this shift to a more efficient and future-facing legal department, legal operations teams must both understand the legal technology landscape while also mastering the softer skills needed to implement and manage change successfully.
The Legal Operations Exchange has been designed to address the complexities of improving in-house legal operations from all angles. Confirmed attendees at this year’s event include Legal Operations Directors, General Counsels and Heads of Legal from top-tier organisations such as The Access Group, L’Oreal and Arla. All participants have been selected to attend this invitation-only gathering based on their active requirements to innovate their legal department’s operations.  
A hallmark of the Legal Operations Exchange is its one-to-one business meetings which allow decision-makers who have pre-identified their specific challenges and investment areas to meet with relevant solution providers. With analysis by the Legal Operations Exchange revealing risk management, contract review and analytics, and document automation and generation as the top investment priorities of attendees so far, these bespoke, pre-scheduled meetings provide a dedicated platform for solution providers to demonstrate their capabilities to those actively seeking new solutions.
With nearly 10 hours of time dedicated to organic networking and pre-scheduled business meetings over the course of the two days, the event provides the opportunity for end users and solution providers alike to form new and lasting relationships. One previous attendee from Red Bull commented that: “The Legal Operations Exchange event was an excellent opportunity for networking. Its size was perfect – not too large, so you didn’t feel lost in the crowd, and not too small, so there was a diverse group of professionals to connect with. I found it incredibly easy to engage in meaningful conversations and build connections.”
The Legal Operations Exchange’s world-class, cross-industry speaker faculty is comprised of leading figures in the legal operations world, including Silke Engel, Director of Legal, Legal Operations and Technology at Coca Cola Europacific Partners, and Niklas Rahlmeyer, Head of New Business, Legal Operations and Services at E.ON.
For Legal Operations professionals, General Counsels and solution providers, the Legal Operations Exchange provides an unparalleled opportunity to form meaningful connections and share best practices for enhancing legal operations in today’s complex landscape. To secure your place or for more information on sponsorship opportunities, contact the Legal Operations Exchange team at [email protected] or visit our website here.
Contact: Kazia [email protected] 

View original content:https://www.prnewswire.co.uk/news-releases/legal-operations-leaders-and-general-counsels-to-discuss-business-critical-challenges-at-legal-operations-exchange-2024-302262399.html

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Tyne and Wear Fire and Rescue Service U.K. to Deploy Motorola Solutions’ Cloud-Hosted Control Room Solution

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New response system helps streamlining workflows, strengthening resilience and improving safety for more than 1 million people in Northeast England
LONDON, Sept. 30, 2024 /PRNewswire/ — Tyne and Wear Fire and Rescue Service has announced that it is strengthening its emergency response capabilities through a cloud-hosted Control Room Solution (CRS) from Motorola Solutions (NYSE: MSI). This move will foster digitalisation, streamline workflows and offer the agency the ability to better scale operations in critical situations such as flooding and wildfires, which have increased in frequency in the U.K. in recent years.

“Our objective is to create one of the safest communities in the country,” said Phil Clark, Area Manager for mobilising and digital transformation at Tyne and Wear Fire and Rescue Service. “We are amongst the fastest responding fire and rescue services in the U.K. for dwelling fires with an average response time of 5 minutes 58 seconds.”
“We will continue to invest in new technologies and plan to offer other fire and rescue services the opportunity to join our newly created control room solution,” said Area Manager Clark. “In doing so, we’ll be able to seamlessly exchange information during joint operations, increase scalability to accommodate varying demand levels, and foster greater cooperation and faster responses in critical situations. Our relationship with Motorola Solutions will enable us to realise and deliver our operational vision, which will ultimately help to save lives and put Tyne and Wear Fire and Rescue Service at the forefront of Control Room technology in the U.K.”          
Every day, more than 1 million people rely on Tyne and Wear Fire and Rescue Service, who operate 17 community fire stations in Northeast England. Their responsibilities across the community include responding to primary and secondary fires, road traffic collisions, civil emergencies, water and structural rescues and delivering fire safety advice to residents and businesses.
The browser-based CRS enables staff to access the control room by securely logging on from any location to set up mobile command posts or provide remote support for incidents. The new platform will integrate Motorola Solutions’ CommandCentral Evidence software for storing and securely handling control room voice recordings, unifying critical communications and data in one platform, while also linking to the appropriate cases.
“Demand on the fire and rescue service has evolved over the years, and emergency services continue to respond to a wide range of complex incidents,” said Fergus Mayne, U.K. and Ireland country manager at Motorola Solutions. “Our cloud-hosted CRS solution benefits Tyne and Wear Fire and Rescue Service with an intuitive and unified response system that integrates all communications into one efficient and resilient work environment.”
About Motorola Solutions
Motorola Solutions is solving for safer. We build and connect technologies to help protect people, property and places. Our solutions enable the collaboration between public safety agencies and enterprises that’s critical for a proactive approach to safety and security. Learn more about how we’re solving for safer communities, safer schools, safer hospitals, safer businesses – safer everywhere – at www.motorolasolutions.com.
Tyne and Wear Fire and Rescue Service
Tyne and Wear Fire and Rescue Service leads the operational delivery of fire and rescue, including public protection, emergency prevention and resilience for the five local authority areas of Gateshead, Newcastle, North Tyneside, South Tyneside and Sunderland. 
The fire service operates from 17 community fire stations across Tyne and Wear, with our stations, employees and appliances strategically placed across the region to ensure efficient and effective response to fire and rescue emergencies. www.twfire.gov.uk 
Photo – https://mma.prnewswire.com/media/2517802/TWFRS_Control_Room.jpg
 

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Heimdal and emt Distribution Aim to Dominate the Middle East Cybersecurity Market

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COPENHAGEN, Denmark and DUBAI, UAE, Sept. 30, 2024 /PRNewswire/ — Heimdal and emt Distribution announce a strategic partnership that combines Heimdal’s advanced cybersecurity solutions with emt Distribution’s deep market expertise.

The collaboration will deliver sophisticated yet user friendly products to the Middle East. With Heimdal offering the widest cybersecurity stack in the world, and emt Distribution being the region’s leading distributor, the partnership is well-positioned for success.
Together, they are committed to educating the market on how strategic consolidation, training, and strong vendor relationships will maximize value.
Bringing a new dynamic to the market
Under this partnership, the two parties have promised to:
Roll out Heimdal’s Patch Management solution right away, as it’s a clear improvement over existing tools in the market.Provide local hosting in the United Arab Emirates by 2025, offering compliant, high-performance cloud services tailored to regional needs.Drive new technology adoption with pioneering tools, like the Threat Hunting and Action Center, along with emt Distribution’s market know-how.Offer easy-to-use technology, hands-on training, and show how a SOC can close security gaps while boosting profits.M Mobasseri, Co-Founder and CEO of emt Distribution META: “As we work closely with many cybersecurity experts and CISOs, we consistently encounter a range of challenges, particularly the complexity of managing numerous platforms. These platforms not only require specialized expertise but are also resource-intensive and costly.”
“Having known Heimdal for many years, I’ve witnessed their substantial investments in addressing these challenges and their development of a comprehensive cybersecurity platform that meets the critical needs of customers in the region.”
“Together with Heimdal, we are striving to integrate best-of-breed technologies into a unified platform, with plans for local hosting in 2025 to ensure compliance for businesses of all sizes. In addition, we are excited to announce special terms for our channel partners, aimed at maximizing their growth and profitability.”
Jesper Frederiksen, CEO of Heimdal, commented on the announcement: “Heimdal is pleased to announce a strategic partnership with emt Distribution, the leading security distributor in the Middle East. This collaboration comes in response to the rapidly growing demand for advanced cybersecurity solutions across the region.”
“By joining forces with emt Distribution, Heimdal aims to leverage their extensive network of resellers to provide cybersecurity solutions to organizations throughout the Middle East. Our joint initiative will focus on empowering organizations to significantly reduce their cyber risk exposure through Heimdal’s easy-to-use and cost-effective security solutions and emt Distribution’s unparalleled market reach.”, he added.
About emt Distribution META
emt Distribution META is a channel company with over 30 years of experience in security distribution, offering cyber threat mitigation solutions for Enterprises, SMBs, and MSPs. Committed to selling through channel partners, emt supports a large reseller base and provides technical support and professional services.
For more information, visit emt Distribution.
About Heimdal
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For more information, visit Heimdal.
For further press information:
Madalina PopoviciMedia Relations [email protected] 
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/heimdal-security/r/heimdal-and-emt-distribution-aim-to-dominate-the-middle-east-cybersecurity-market,c4044480
The following files are available for download:
https://mb.cision.com/Main/22623/4044480/3028629.pdf
Heimdal and emt Distribution Partnership – Press Release
https://news.cision.com/heimdal-security/i/heimdal-and-emt-distribution-partnership,c3338145
Heimdal and emt Distribution Partnership
 

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