Business
Zonetail Inc. Reports Q1 Results
Toronto, Canada--(Newsfile Corp. - May 24, 2019) - Zonetail Inc. (TSXV: ZONE) (the "Company" o...
About this update from Zonetail, Inc.
[{"type":"text","content":"Zonetail Inc. Reports Q1 ResultsToronto, Canada--(Newsfile Corp. - May 24, 2019) - Zonetail Inc. (TSXV: ZONE) (the \"Company\" or \"Zonetail\") is pleased to report its financial and operational results for the first quarter ended March 31, 2019. These filings are available for review on the Company's SEDAR profile at www.sedar.com.First Quarter 2019 Highlights:Zonetail continues to drive sales for its mobile platform through strategic alliances and beneficial partnerships. During the quarter the Company announced the launch of its mobile platform for condominiums in partnership with the property management software company Shiftsuite, thus expanding access to the Company's mobile platform to upwards of 400 000 condo units throughout Canada.The Company's net loss of $553,843 for the three months ended March 31, 2019, compared to $294,540 for the three months ended March 31, 2018 is primarily due to an increase in business development and salaries expense. Professional fees increased due to costs associated with the Company going public.Interest and accretion decreased by $116,928 for the three months ended March 31, 2019. As the Company converted all convertible debentures during the year ended December 31, 2018, there was no associated interest and accretion expense in the three months ended March 31, 2019.Subsequent Events:Zonetail launched its hotel mobile platform in six additional US cities (Dallas, San Antonio, Austin, Houston, Orlando, and San Diego) in partnership with the Asian American Hotel Owners Association (AAHOA), the largest association of hotel owners in the world.The Company partnered with Bluedot, a leading provider of first-person location data, to improve personalized customer engagement through Zonetail's hotel and condo mobile platforms. Bluedot's technology provides real-time physical context along with tracking attribution, ROI, and increased analytics to Zonetail's suite. The Company formed a strategic partnership with SEL Global to explore business opportunities within the $2 Trillion-dollar Smart City marketplace. Zonetail's mobile platform, augmented by Sel Global's mobile advertising software, better connect clients to mobile customers as they move from point to point.The Company introduced a transaction based revenue stream, adding to its advertising revenue. This model is evident in its partnershi...