- Currently, supplying COVID-19 Tests for thirteen film productions launched in Vancouver, with additions in Montreal, and Toronto.
- Currently executing over 4000 tests per week.
- Top-line revenue estimates from the current work is approx. $20 million.
Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the "Company" or "Datametrex") is pleased to update its shareholders on the growth of film and television production COVID TESTING. As Film and Television studios continue to expand productions throughout Canada, Datametrex is being requested by its current clients to take on more coronavirus testing for their portfolio of productions across the country.
The Company has also been approached by additional film and studio companies for Datametrex to assist with fulfilling the studio with their own testing needs. Based on these current contracts, and additional opportunities for testing services which the Company is pursuing and in discussions for, management believes that the Company is on track to achieve approximately 4,000 tests per week, based on current operations Datametrex, current cost and revenue model, would result in revenue of approximately $20 million over the next 28 weeks. There can be no assurance or guarantee that this revenue amount will result for the Company.
The global film and video market is expected to decline from $252.9 billion in 2019 to $244.4 billion in 2020 at a compound annual growth rate (CAGR) of -3.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $284 billion in 2023.
Marshal Gunter, CEO, said, "I must first say thank you to the entire team at Datametrex along with the medical and lab professionals for their tireless work at the company. We are ramping up our business to meet increasing demand and our expectation based on what we are seeing in the market is to execute on approximately 10,000 tests per week on a progressive basis. We are witnessing a paradigm shift within the film industry. With the advent of movie theaters being closed in numerous regions around the globe due to government enforced shut downs by coronavirus, film and television companies rely more on at-home streaming services to maintain a robust revenue model. Content production is key to this and Canada is a major platform for content development. The demand remains high for qualified medical professionals from the private sector to be on site, and in the lab, ensuring complete and timely delivery of coronavirus tests supplied by Datametrex." He continued, "with our growing revenue model, we remain committed to our shareholders and will announce further developments with additional conference calls and press releases in the coming weeks."
Datametrex AI Limited is a technology-focused with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex's mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, Company provides progressive solutions to support the supply chain. Additional information on Datametrex is available at www.datametrex.com.
For further information, please contact:
Marshall Gunter - CEO
Phone: (514) 295-2300
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Certain statements including in this news release contain "forward-looking information" or constitute "forward-looking statements" within the meaning of applicable securities laws. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy, including the dollar amount of revenue anticipated as disclosed in this press release.
Forward-looking statements or information are based on current expectations, estimates and projections that involve several risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. These risks and uncertainties may cause actual results to differ materially from the forward-looking statements or information.
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