March 31, 2022
TORONTO – Deepspatial (CSE:DSAI)(OTCQB:DSAIF) (“Deepspatial” or the “Company”), an outcome based artificial intelligence (AI) company, enabling organizations to enhance their decision making capabilities by leveraging the power of data andAI, today provided a business update as it works towards meeting strategic business development, technology, and innovation initiatives.
“Over the last few months, we’ve received positive response to our AI-driven platform from large Enterprise and Government organizations and we are pleased to report that we’ve received several contracts spanning across several industries.” Said Dr. Rahul Kushwah, CEO of Deepspatial.
“We expect significant growth in booked revenue in the coming quarters as we continue to execute meaningful contracts and engage in lucrative opportunities in our sales pipeline.”
Dr. Kushwah continued, “Our team is working diligently towards augmenting with our clients following successful pilot projects. Deepspatial’s solutions are evidently needed in industries like retail enterprise, education, agriculture, and infrastructure as we’ve seen with our current customers – and we plan to be the go-to-solution for AI-driven insights and decision making for more industries and sectors around the globe.”
· Approximately $100,000 in booked revenue from January 2022 to March 2022.
· Strong sales pipeline with significant revenue potential consisting of new Sectors and Government opportunities.
· Patent portfolio expansion with five additional US patents anticipated to be filed in the next Quarter.
· Expansion of data-science and technology team to meet forecasted project deadlines and new client orders.
Deepspatial (CSE:DSAI) (OTCQB:DSAIF) is an outcome based artificial intelligence company, enabling organizations to enhance their decision-making capabilities by leveraging the power of data and AI. Fromfinding the most efficient supply chain routes to knowing where to develop next, Deepspatial’s AI-driven platform enables its clients to visualize what’s going on, predict what’s coming, analyze data, and optimize processes to make smarter decisions for a better future. For more information, visit www.Deepspatial.ai and follow us on Twitter, Instagram or LinkedIn.
Caution regarding Forward LookingInformation:
THE CANADIAN SECURITIES EXCHANGEHAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE.
This news release may containforward-looking statements and information based on current expectations. Thesestatements should not be read as guarantees of future performance or results ofthe Company. Such statements involve known and unknown risks, uncertainties andother factors that may cause actual results, performance or achievements to bematerially different from those implied by such statements. Although suchstatements are based on management’s reasonable assumptions, there can be noassurance that such assumptions will prove to be correct. We assume no responsibilityto update or revise them to reflect new events or circumstances. The Company’ssecurities have not been registered under the U.S. Securities Act of 1933, asamended (the “U.S. Securities Act”), or applicable state securitieslaws, and may not be offered or sold to, or for the account or benefit of,persons in the United States or “U.S. Persons”, as such term isdefined in Regulations under the U.S. Securities Act, absent registration or anapplicable exemption from such registration requirements. This press releaseshall not constitute an offer to sell or the solicitation of an offer to buynor shall there be any sale of the securities in the United States or anyjurisdiction in which such offer, solicitation or sale would be unlawful.Additionally, there are known and unknown risk factors which could cause theCompany’s actual results, performance or achievements to be materiallydifferent from any future results, performance or achievements expressed orimplied by the forward-looking information contained herein, such as, but notlimited to dependence on obtaining regulatory approvals; the ability to obtainintellectual property rights related to its technology; limited operatinghistory; general business, economic, competitive, political, regulatory andsocial uncertainties, and in particular, uncertainties related toCOVID-19;risks related to factors beyond the control of the company, includingrisks related to COVID-19; risks related to the Company’s shares, includingprice volatility due to events that may or may not be within such party’scontrol; reliance on management; and the emergency of additional competitors inthe industry.
All forward-looking informationherein is qualified in its entirety by this cautionary statement, and theCompany disclaims any obligation to revise or update any such forward-lookinginformation or to publicly announce the result of any revisions to any of theforward-looking information contained herein to reflect future results, eventsor developments, except required by law.
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