Alphinat Announces a Profit Before Non-Cash Charges of $21,937 and a Net Loss to $(5,848) for Fiscal 3rd Quarter Ended May 31, 2023

MONTREAL, QC / ACCESSWIRE / August 3, 2023 / Alphinat Inc. (TSXV:NPA) announces revenues of $393,621 for fiscal quarter ended May 31, 2023, as compared to $518,750 for quarter ended May 31, 2022 with a net loss to $(5,848) for the fiscal quarter ended May 31, 2023, compared to a net profit of $197,285 in the same period of fiscal 2022.

During the quarter ended May 31, 2023, Alphinat concentrated most of its commercial efforts on project deliveries for digital service to the public sector, partnerships, and license sales. SmartGuide low code software continues to be used by federal,agencies , state / provincial and municipal governments to create the best user experience and solution deliveries, gaining enhanced productivity.

Overview - SmartGuide® brings faster agile development with LIVEaiASSIST to the Cloud, Web and mobile leveraging Artificial Intelligence (AI) to further accelerate the creation of complex digital applications for public sector. Alphinat sells SmartGuide® software and SmartGuide solutions which are used for development and delivery of advanced digital services and secure portal solutions for governments to meet their citizens expectations for digital government.

In order to accelerate future growth, Alphinat has considerably broadened its horizons by now counting five main areas of solution deliveries:

1. SmartGuide® Grants and Contributions solution (SmartGrants.ca) was developed in conjunction with a federal department of the Canadian Government. This platform offers unparalleled productivity for federal, state and municipal clients creating calls for grants including financial program creations for applications, adjudication and payments;
2. SmartGuide® Portal Edition for Dynamics 365¹ (smartD365.com) has optimize the way that clients can now create and deploy online services on top of Microsoft Dynamics 365 CRM solutions. This offering is available in SaaS mode as well as on-premises;
3. SmartGuide® Green House Gas Registry solutions (SmartGHGR.ca) is a green fintech solution allowing governments and industry to work together in reducing the harmful effects of greenhouse gas. Alphinat currently has three provincial clients for our SmartGHGR.ca solution;
4. SmartGuide® Claims solutions (SmartClaims.ca) was developed in conjunction with a major IT consulting partner, which aims at offering unparalleled productivity to federal, state and municipal clients for financial claims applications, adjudication and settlements for financial compensation and class action settlements;
5. SmartGuide® CIVIC Portal, CIVIC Portal for Permits & Licensing (PermitSmart.ca) and SmartGuide® Municipal Cloud are Municipal Cloud and on-premises solutions front ending partner solutions and other digital services for improved user experience for both the cities and their citizens.

Alphinat's financial statements and Management's Discussion and Analysis for the period ending May 31, 2023, can be found on SEDAR+, at www.sedarplus.ca.

About Alphinat

Alphinat is a FINTECH company which develops software for governments and is actively used to serve over 50 million end-users of federal, state, and municipal digital services. Alphinat employs Artificial Intelligence and reduces the need to code, allowing managers to quickly deploy online solutions that easily integrate with existing systems.

At Alphinat, we enable people to easily develop and deploy secure digital service leveraging our SmartGuide low code development software. We provide those closest to an application's end-users with an easy-to-use no-code software development platform. At the same time, we're constantly working to reduce the need to code to make application development and maintenance simpler and less error prone.

So, whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps or engage us or one of our partners to do the work for you, we're here to help you deploy better applications in record time. Visit us at https://www.alphinat.com for more information. We look forward to hearing from you.

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regards to the Company's future performance constitute "constitute «forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed,they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward- looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results,performance or achievements of the Company to be materially different from any future results,performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company's capacity to increase acceptance of its products on the market, and to penetrate new markets; the potential existence of defects or undetected problems in the Company's products; the Company's ability to manage its growth; the Company's ability to compete with others;potential commitments; maintaining the Company's intellectual property rights and defending against litigation putting those rights in question;the Company's reliance on the knowledge of its key personnel; and the Company's access to sufficient capital to finance its future needs. This is a partial and non-exhaustive list of factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company.The Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Mr. Curtis Page
Chief Executive Officer
Alphinat Inc.
(514) 398-9799 ext. 225

[1] Dynamics 365 is a trademark of Microsoft Corporation

SOURCE: Alphinat Inc.