OneBridge Teams Up with Phillips 66 to Develop Advanced Pipeline Integrity Management SAAS Solution

Edmonton, Alberta, Canada (January 12, 2018) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS, OTC:OSSIF) is pleased to announce that its wholly owned subsidiary, OneBridge Solutions, Inc. (“OneBridge”), has entered into a technology license and joint development agreement with Phillips 66 to create a comprehensive pipeline integrity management software application, by migrating Phillips 66’s current pipeline data management system (“PT-DMS”) to a cloud-based software-as-a-service (“SaaS”) solution and integrating Machine Learning and other Data Science technologies into the application (“Integrity Management Solution” or “IMP”). IMP will be designed to integrate transparently with OneBridge’s Cognitive Integrity ManagementTM (“CIM”) solution and is targeted for use globally by oil and gas pipeline operators.

“This development project with Phillips 66 represents an important milestone for OneBridge,” said Tim Edward, President. “Our vision at the outset was to develop a cloud application that enables pipeline operators to manage their pipeline assets as smart infrastructure.  CIM’s machine learning and data science components made achievement of this objective possible, and integration of these components to leverage the high level of industry expertise embedded in PT-DMS will further evolve our vision.”

“We are pleased and encouraged that Phillips 66 chose OneBridge to help advance their pipeline integrity platform” said Brandon Taylor, CTO of OneBridge.  “PT-DMS is one of the most comprehensive and sophisticated pipeline management solutions within the industry today, which will ease migration to the cloud and reduce time-to-market for IMP. Microsoft continues to provide strong technical, marketing and sales support for OneBridge products, and we will continue to leverage the latest Azure and data science technology in the development of IMP.  We are grateful for both Phillips 66’s and Microsoft’s collaborative efforts to assist us to create software to advance the pipeline industry’s collective objectives of operating cost reduction and zero pipeline failures.”

 

About the Integrity Management SaaS Program

 

PT-DMS is a comprehensive, on-premise software solution developed by Phillips 66 as a key tool to aid in its pipeline infrastructure management process. The software addresses numerous key functional areas including: assessment plan tracking; maintaining assessment attributes; integrity management process planning based on multiple tool technologies; planning and scheduling activities for internal engineers, field teams, and tool vendors; analyses of data integrity in compliance with API 1163 regulations, general industry standards, internal company policies and priorities; anomaly worklist tracking that accommodates specific actions on a per anomaly basis; and all reporting associated with these functions. PT-DMS also addresses supporting functions including data ingestion tools; GPS and data maintenance utilities; workflows; job process queues; integrated security; and other peripheral features and functions that further supplement data management and tasks addressed by PT-DMS.

Pursuant to the terms of the agreement, OneBridge will migrate PT-DMS onto Microsoft’s Azure Cloud Platform and Services to create IMP, which will be designed to integrate seamlessly with CIM. The development project will commence immediately, with the expectation to engage private preview customers to provide input and feedback commencing in calendar Q2 2018, with market commercial availability of the initial version of IMP projected to occur in calendar Q4 of 2018. OneBridge believes that CIM and IMP will provide compelling, comprehensive and cost-effective solutions for Tier 1 oil and gas pipeline operators that wish to accelerate their digital transformation, and also for Tier 2 and Tier 3 pipeline operators that typically engage outside consultants for integrity management services rather than allocate the significant resources required to internally develop complex software systems to manage their pipelines.

About OneSoft Solutions and OneBridge

OneSoft has developed software technology and products that have capability to transition legacy, on premise licensed software applications to operate on the Microsoft (NASDAQ “MSFT”) Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost-efficient subscription-based business model utilizing the Microsoft Azure Cloud Platform and Services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information. For more information regarding this announcement, refer to the Material Change report filed on www.SEDAR.com.

OneBridge develops and markets revolutionary new SaaS solutions that use data science and Machine Learning to conduct predictive analytics on big data for the Oil & Gas pipeline industry, which assists operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements.

Visit www.onebridgesolution.com for more information.

 

For more information, please contact

Dwayne Kushniruk, CEO

dkushniruk@onesoft.ca

(780) 437‐4950

Sean Peasgood, Investor Relations

Sean@SophicCapital.com

(416) 565-2805

 

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations, product creation revenues and profitability of the Company, the Company’s efforts to develop and commercialize the technology with the capabilities, and Phillips 66’s ability to use the technology, as described, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided for the purpose of delivering information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

In respect of the forward-looking information and statements, the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, its ability to complete projects to expected deadlines, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; human capital engagement and availability, ability to access sufficient financial capital from internal and external sources; and changes in legislation, including but not limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.

Neither the 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.

 

Another US-Based Fortune 500 Company Adopts Onesoft’s CIM Solution for Pipeline Integrity Management and Data Analytics

Edmonton, Alberta, Canada (January 11, 2018) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS, OTC:OSSIF) is pleased to announce that its wholly-owned subsidiary, OneBridge Solutions, Inc. (“OneBridge”), has entered into an agreement with another Fortune 500 company (the “Client”) to use Cognitive Integrity ManagementTM (“CIM”) as an integral component of its pipeline integrity management process. CIM is a SaaS solution that incorporates proprietary machine learning algorithms and other data science components of Microsoft Azure and cloud technologies to manage and conduct predictive analytics on big data pertaining to oil and gas pipelines.

“We are pleased that another customer who initially commenced using CIM on a pilot project trial basis has now transitioned to use CIM on an ongoing, commercial basis” said Tim Edward, President of OneBridge. “This corroborates our belief that machine learning and data science cloud technologies can deliver better data management and analytics than legacy solutions provide, and that incorporating CIM as an integral component of pipeline integrity management provides a high-value proposition for pipeline operators.”

The Client is a USA-based company, which together with its subsidiaries, is one of the largest petroleum product refiners, marketers and transporters in the United States. Its operations include multiple refineries, comprehensive terminal and transportation systems, extensive wholesale divisions and one of the largest chains of company-owned and operated retail gasoline and convenience stores within the USA. The Company’s major projects include significant investments in software and technology to streamline operations, reduce costs and provide for future growth. A plan to incorporate the Client’s use of CIM through calendar 2018 has been determined, which services will commence immediately.

About OneSoft Solutions and OneBridge

OneSoft has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft (NASDAQ “MSFT”) Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost-efficient subscription-based business model utilizing the Microsoft Azure Cloud Platform and Services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.

OneBridge develops and markets revolutionary new SaaS solutions that use data science and Machine Learning to apply predictive analytics to big data for the Oil & Gas pipeline industry, which assists operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements.

Visit www.onebridgesolution.com for more information.

 

For more information, please contact

Dwayne Kushniruk, CEO

dkushniruk@onesoft.ca

(780) 437‐4950

Sean Peasgood, Investor Relations

Sean@SophicCapital.com

(416) 565-2805

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations, product creation revenues and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided for the purpose of delivering information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

In respect of the forward-looking information and statements, the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, its ability to complete projects to expected deadlines, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; human capital engagement and availability, ability to access sufficient financial capital from internal and external sources; and changes in legislation, including but not limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.

Neither the 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.

 

OneSoft Engages in Pilot Program with Another Fortune 500 USA-Based Company

Edmonton, Alberta, Canada (December 5, 2017) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS, OTC:OSSIF) is pleased to announce that its wholly owned subsidiary, OneBridge Solutions, Inc. (“OneBridge”), has entered into a Pilot Program agreement with another U.S. based, Fortune 500 petroleum company, whose operations include refineries, retail marketing and transportation of oil and gas products (the “Client”), for evaluation of OneBridge’s Cognitive Integrity ManagementTM (“CIM”) SaaS solution.

“This Pilot Project confirms that another Tier 1 pipeline operator has recognized the value proposition of CIM and has committed to further explore CIM’s capabilities,” said Tim Edward, President of OneBridge Canada. “The initial feedback we’ve received is very positive, as this Client is highly committed to enhance and improve their internal systems and processes to detect threats to their pipeline infrastructure, in pursuit of a zero-failure objective.”

Brandon Taylor, CTO and President of OneBridge USA, added, “Since embarking upon marketing and sales initiatives with Microsoft in September 2017, we have identified potential sales opportunities involving approximately 375,000 miles of pipeline in the U.S. operated by Microsoft customers who are also OneBridge prospects. These miles represent a significant subset of the initial target market we are pursuing and we are encouraged by this first tangible result from our collaborative sales efforts with Microsoft.”

The initial revenue associated with this contract is a nominal fixed fee which recovers OneBridge costs associated with the project. OneSoft’s objective is to retain this Client as a commercial customer who uses CIM on an ongoing basis to produce recurring revenues as is expected from the Company’s SaaS business model.

About the Client

The Client is a USA-based company, which together with its subsidiaries, is one of the largest petroleum product refiners, marketers and transporters in the United States. Its operations include multiple refineries, comprehensive terminal and transportation systems, extensive wholesale divisions and one of the largest chains of company-owned and operated retail gasoline and convenience stores within the USA. The Company’s major projects include significant investments in software and technology to streamline operations, reduce costs and provide for future growth.

About the CIM Pilot Project

Pursuant to the terms of the arrangement, OneBridge will normalize the Client’s inline inspection (“ILI”) data for segments of its pipeline, ingest the data, map certain shape and ILI files, and align anomalies and calculate their growth rates. Using OneBridge proprietary Pattern Detection and Interacting Threats machine learning algorithms, the program is designed to detect threats using Predictive Analytics, while providing advanced business intelligence, graphical presentations, and reporting of the data that assists clients to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.

OneBridge utilizes proprietary Machine Learning algorithms, a single geo-spatial database, and predictive analytics applied to structured and unstructured big data on a highly scalable level that cannot practically be replicated through manual efforts, to provide pipeline companies with the functionality they require to safely operate, manage and maintain their pipeline infrastructure as smart assets. The OneBridge Cognitive Integrity ManagementTM solution is deployed as a software as a service (“SaaS”) solution leveraging Data Science, Azure Machine Learning, HoloLens, Microsoft Power BI Embedded and other components of the Microsoft Azure: Cloud Platform and Services.

About OneSoft Solutions Inc.

OneSoft Solutions Inc. has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft (NASDAQ: MSFT) Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost-efficient subscription-based business model utilizing the Microsoft Azure: Cloud Platform and Services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.

 

ON BEHALF OF THE BOARD OF DIRECTORS

ONESOFT SOLUTIONS INC.

Douglas Thomson

Chair

 

For more information, please contact

Dwayne Kushniruk, CEO

dkushniruk@onesoft.ca

(780) 437‐4950

 

Sean Peasgood, Investor Relations

Sean@SophicCapital.com

(416) 565-2805

 

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided for the purpose of delivering information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.

Neither the 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.

 

OneSoft to Present at the 10th Annual LD Micro Main Event Investors Conference in Los Angeles

LOS ANGELES, CA / ACCESSWIRE / November 29, 2017 / OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V: OSS, OTCQB: OSSIF) is pleased to announce that representatives from OneSoft and its wholly owned subsidiary, OneBridge Solutions, Inc. (“OneBridge”), will present the Company’s investment thesis to investors attending the 10th Annual LD Micro Main Event Conference in Los Angeles, California. Dwayne Kushniruk, OneSoft’s CEO, and Brandon Taylor, CTO and President of OneBridge USA, will host the presentation on Wednesday, December 6, 2017 at 10:00am PST. Mr. Kushniruk and Mr. Taylor are also booked for one-on-one meetings with potential investors during the three-day event.

“OneSoft is pleased to present our story to U.S.-based, microcap, tech institutions and investors at the LD Micro Main Event,” said Mr. Kushniruk. “Recent Company and industry catalysts within the U.S. led us to broaden our messaging, and LD Micro’s mix of institutional investors, family offices, and high-net worth individuals is a perfect marketing channel to engage new investors. We look forward to introducing our Company, discussing operational progress, and unveiling our expanding market opportunity with people new to our Company.”

The LD Micro Main Event is the largest independent conference for small and micro-cap companies in the USA and will feature 250 names presenting to an audience of over 1,000 attendees. In addition, there will be a variety of speakers and panelists discussing topics of interest to investors and issuers, along with coordinated evening events.

View OneSoft Solutions Inc.’s profile here: http://www.ldmicro.com/profile/OSS.V

News Compliments of Accesswire.

About OneSoft and OneBridge

OneSoft has developed software technology and products that have capability to transition legacy, on premise licensed software applications to operate on the Microsoft (MSFT) Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost-efficient subscription-based business model utilizing the Microsoft Azure: Cloud Platform and Services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.

OneBridge develops and markets revolutionary new SaaS solutions that use Machine Learning to conduct predictive analytics on big data and for the Oil & Gas pipeline industry, which assist operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.

ON BEHALF OF THE BOARD OF DIRECTORS

ONESOFT SOLUTIONS INC.

Douglas Thomson
Chair

For more information, please contact

Dwayne Kushniruk, CEO

dkushniruk@onesoft.ca
(780) 437‐4950
Sean Peasgood, Investor Relations

Sean@SophicCapital.com
(416) 565-2805

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided for the purpose of delivering information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.

About LD Micro

LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into several influential conferences annually.

In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector.

For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com/events for more information.

 

Source: OneSoft Solutions Inc. via LD Micro

Neither the 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.

SOURCE: OneSoft Solutions Inc

OneSoft Engages in Another Pilot Program with a Fortune 100 USA-Based Petroleum Company

Edmonton, Alberta, Canada (November 21, 2017) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS, OTC:OSSIF) is pleased to announce that its wholly-owned subsidiary, OneBridge Solutions, Inc. (“OneBridge”), has commenced a Pilot Program with a division of a U.S. based, Fortune 100 petroleum product refiner, marketer and transporter (the “Client”) for evaluation of OneBridge’s Cognitive Integrity ManagementTM (“CIM”) SaaS solution.

“We’re pleased that another Tier 1 pipeline operator has recognized CIM’s value proposition and has committed to further explore CIM’s capabilities,” said Tim Edward, President of OneBridge Canada. “According to PHMSA, the American pipeline regulator, a pipeline incident occurs almost daily in the United States. CIM’s machine learning capabilities may potentially uncover pipeline faults before failures occur, and detect threats with higher accuracy, increased speed, and at a far lower cost than the current default method, which largely involves manual spreadsheet analysis. Given the safety issues, negative publicity, large fines and lost revenues associated with failures, and that the pipeline industry has a stated goal of zero failures, interest in our CIM solution continues to grow.”

The initial revenue associated with this contract is a nominal fixed fee which recovers OneBridge costs associated with the project.

“We designed these Pilot Programs to give prospects the opportunity to evaluate the full functionality of our CIM solution within weeks,” said Brandon Taylor, CTO and President of OneBridge USA. “We cannot provide timing on when or if new clients will ultimately adopt CIM, however, initial feedback has been very positive.”

About the Client
The Client is a USA-based company, which together with its subsidiaries, is one of the largest petroleum product refiners, marketers, and transporters in the United States. Its operations include multiple refineries, comprehensive terminal and transportation systems, extensive wholesale divisions and one of the largest chains of company-owned and operated retail gasoline and convenience stores within the USA.

About the CIM Pilot Project
Pursuant to the terms of the arrangement, OneBridge will normalize the Client’s inline inspection (“ILI”) data for segments of its pipeline, ingest the data, map certain shape and ILI files, and align anomalies and calculate their growth rates. Using OneBridge proprietary Pattern Detection and Interacting Threats machine learning algorithms, the program is designed to detect threats using Predictive Analytics, while providing advanced business intelligence, graphical presentations, and reporting of the data that assists clients to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.
OneBridge utilizes proprietary Machine Learning algorithms, a single geospatial database, and predictive analytics applied to structured and unstructured big data on a highly scalable level that cannot practically be replicated through manual efforts, to provide pipeline companies with the functionality they require to safely operate, manage and maintain their pipeline infrastructure as smart assets. The OneBridge Cognitive Integrity ManagementTM solution is deployed as a software as a service (“SaaS”) solution leveraging Data Science, Azure Machine Learning, HoloLens, Microsoft Power BI Embedded and other components of the Microsoft Azure: Cloud Platform and Services.

About OneSoft Solutions Inc.
OneSoft Solutions Inc. has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft (NASDAQ: MSFT) Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost-efficient subscription-based business model utilizing the Microsoft Azure: Cloud Platform and Services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.

ON BEHALF OF THE BOARD OF DIRECTORS
ONESOFT SOLUTIONS INC.
Douglas Thomson
Chair

For more information, please contact
Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
(780) 437‐4950

Sean Peasgood, Investor Relations
Sean@SophicCapital.com
(416) 565-2805

Forward-looking Statements
This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided for the purpose of delivering information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.
Neither the 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.

OneSoft Solutions Engages Sophic Capital for Capital Markets Advisory Services

Edmonton, Alberta, Canada (November 16, 2017) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V: OSS; OTCQB: OSSIF) announced today that it has appointed Sophic Capital Inc. (“Sophic Capital” or “Sophic”) as its Investor Relations (IR) firm. Sophic Capital is a capital markets advisory firm and will focus on increasing investor awareness of OneSoft by developing a comprehensive communications strategy and introducing OneSoft to investment advisors, investment dealers, institutions, and other financial professionals.

“Sophic Capital demonstrated tremendous support for OneSoft, having visited us at a major pipeline conference in Houston earlier this year and have a deep knowledge base about our technology and markets,” said Dwayne Kushniruk, OneSoft’s CEO. “Now that OneSoft has some upcoming catalysts, we want to leverage Sophic’s relationships and expertise to communicate our story to investors.”

“OneSoft’s story hits many on-trend technology themes, including machine learning, artificial intelligence, and augmented reality,” said Sean Peasgood, CEO of Sophic Capital.  “The recent Phillips 66 contract validated OneSoft’s solution; our conversations with Microsoft illustrated the value proposition for Azure; we’re confident that management will close more deals within the energy pipeline industry. We want to thank OneSoft for selecting Sophic Capital, and we look forward to communicating their story to investors.”

OneSoft’s engagement with Sophic Capital is a 12-month term, on a fee-for-services basis of $7,000 per month. In addition, OneSoft has granted Sophic 600,000 options to purchase OneSoft shares at a price of $0.20 per share. The options will vest over 12 months and will expire on November 14, 2020.

About OneSoft Solutions Inc.

OneSoft Solutions Inc. has developed software technology and products that have capability to transition legacy, on premise licensed software applications to operate on the Microsoft Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost-efficient subscription based business model utilizing the Microsoft Azure: Cloud Platform and Services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.

 

For further information, please contact:

Dwayne Kushniruk, CEO

dkushniruk@onesoft.ca

(780) 437‐4950

 

Sean Peasgood, Investor Relations

Sean@SophicCapital.com

(416) 565 2805

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided for the purpose of delivering information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.

Neither the 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.

 

Onesoft’s Onebridge subsidiary engages in pilot program with progressive American pipeline company

Edmonton, Alberta, Canada (September 14, 2017) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS) is pleased to advise that its wholly owned subsidiary, OneBridge Solutions, Inc. (“OneBridge”), has commenced a Pilot Program for evaluation of OneBridge’s Cognitive Integrity Management SaaS solution by another US-based oil & gas pipeline operator (the “Client”).

Pursuant to the terms of the agreement, OneBridge will normalize the Client’s inline inspection (“ILI”) data for segments of its pipeline, ingest the data, map certain shape and ILI files, and align anomalies and calculate their growth rates. This Pilot Program is expected to advance development of our proprietary Pattern Detection and Interacting Threats machine learning algorithms, which are designed to detect threats to pipelines over time using Predictive Analytics, while providing advanced business intelligence, graphical presentations, and reporting of the data that operators require to manage their pipeline infrastructure.  Additional to the ILI data, the Client will also provide various external data sets (e.g., environmental information), which OneBridge will correlate to anomalies and other features to further enhance the functionality of the Cognitive Integrity Management solution.

Tim Edward, President of OneBridge, stated “We are excited about their commitment to this Pilot Program because this Client is fully committed to operate their pipeline business to the highest levels of responsibility and safety. We are also appreciative of their involvement to use, and assist us to further evolve our Cognitive Integrity Management solution. Their objective of reducing pipeline failures to zero aligns fully with our own vision for Cognitive Integrity Management and OneBridge.”

Brandon Taylor, OneBridge CTO added, “We look forward to working with their highly experienced integrity management personnel, who are clearly amongst the technology leaders in the industry. We intend to use Cognitive Integrity Management to validate their existing results and truth data. In addition, our data science team will use our Pattern Detection and Interacting Threat algorithms to identify whether Machine Learning can potentially expose threats that may not have previously been discovered.”

The Pilot Program, using a “succeed fast/fail fast” approach, will accommodate a full evaluation of Cognitive Integrity Management by the Client within weeks. The objective of the program is to allow the Client to utilize Cognitive Integrity Management as a key component of their integrity management process on a trial basis while using their own data, and then subsequently contract with them as a long-term commercial customer. The initial revenue associated with this contract is a nominal fixed fee which recovers OneBridge costs associated with the project. The potential exists that future recurring annualized SaaS revenue could increase to the low to mid six-figure range, should the Client adopt Cognitive Integrity Management for their long-term use.

About the Client

The Client is a subsidiary of one the largest private companies in the USA and owns or operates pipeline systems that transport crude oil, refined petroleum products, chemicals and natural gas liquids in multiple states. The Client has received various awards for outstanding safety and environmental practices, and is actively involved as a progressive industry leader to implement new technologies and practices that promote the safety of the public, its employees, and the environment.

About OneBridge Solutions, Inc.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc. (“OneBridge”), is currently focused on the U.S. Oil & Gas pipeline market, which management estimates represents 60% of the global addressable market for the Company’s products. OneBridge develops and markets revolutionary new software as a service (“SaaS”) solutions for the Oil & Gas pipeline industry which assists operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements.

 

OneBridge utilizes proprietary Machine Learning algorithms, a single geo-spatial database, and predictive analytics applied to structured and unstructured big data on a highly scalable level that cannot practically be replicated through manual efforts, to provide pipeline companies with the functionality they require to safely operate, manage and maintain their pipeline infrastructure as smart assets. The OneBridge Cognitive Integrity Management solution provides Data Normalization, Cognitive Learning, and Business Intelligence and Visualization, all of which is deployed as a SaaS solution leveraging Data Science, Azure Machine Learning, HoloLens, Microsoft Power BI Embedded and other components of the Microsoft Azure: Cloud Platform and Services. Visit www.onebridgesolutions.com for more information.

About OneSoft Solutions Inc.

OneSoft Solutions Inc. has developed software technology and products that have capability to transition legacy, on premise licensed software applications to operate on the Microsoft Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost-efficient subscription based business model utilizing the Microsoft Azure: Cloud Platform and Services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.

 

ON BEHALF OF THE BOARD OF DIRECTORS

ONESOFT SOLUTIONS INC.

Douglas Thomson

Chair

 

For more information, please contact

Dwayne Kushniruk, CEO

dkushniruk@onesoft.ca (780) 437‐4950

 

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided for the purpose of delivering information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

 

In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the efficacy of its software, the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

 

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.

 

Neither the 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.

 

 

 

OneSoft’s OneBridge subsidiary contracts with Phillips 66

Edmonton, Alberta, Canada (September 12, 2017) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS) is pleased to advise that its wholly owned subsidiary, OneBridge Solutions, Inc. (“OneBridge”), has contracted with Houston-based Phillips 66, a diversified Fortune 500 energy manufacturing and logistics company, for commercial use of OneBridge’s Cognitive Integrity Management (“CIM”) SaaS solution.

OneBridge’s relationship with Phillips 66 began in mid-2016 when Phillips 66 engaged as an early adopter to provide input and feedback for development of CIM.  This occurred as part of the Company’s private preview program that followed its software development sprint at Microsoft’s Accelerator program for Machine Learning and Data Science, held between February and June, 2016.  OneBridge was one of 9 companies selected from 721 applicants world-wide to participate in the Seattle Accelerator, and the only company chosen from the oil and gas pipeline industry.

During the course of the private preview program, Phillips 66 provided 845 inline inspection data files stored in various formats collected between 1993 and 2016, representing approximately 300 segments totaling 9,700 miles of pipeline, along with “truth” data as determined by Phillips 66 using their conventional manual processes.  This truth data served as a benchmark for comparison and validation of the data analyses performed by CIM. Using Machine Learning technology, CIM automatically ingested and normalized the data, which logged 8.8 million features, with a high alignment success rate and at a speed that greatly exceeded standard manual times.

The entire process of data ingestion, normalization and alignment of data for such a project typically takes under 2 hours using CIM, as compared to more than 10 work weeks of effort using conventional manual processes. Additionally, while manual processes typically address less than 5% of the pipeline data, CIM analyzes 100% of the data, thus provides capability for operators to manage their pipeline assets as smart infrastructure. CIM, using our proprietary Machine Learning algorithms, applies predictive analytics to inline inspection big data to identify potential threats to pipelines, thus assists oil and gas pipeline operators to attain their objective to achieve zero pipeline failures.

Tim Edward, President of OneBridge, stated “We are very appreciative of the assistance that Phillips 66 has provided to accelerate CIM development for general commercial use. Our vision for OneBridge, which is disruptive to current methodologies and practices used today, passed an important milestone test when Phillips 66, one of the most progressive pipeline operators in the world, was able to confirm that results from validation digs performed to verify CIM analyses were sufficiently compelling for them to adopt CIM as a key tool to detect threats to their pipeline infrastructure.”

Brandon Taylor, OneBridge CTO added, “Phillips 66’s mandate is to refine and improve its asset integrity programs for pipelines and facilities across its enterprise, and to maintain the highest level of accountability for governance and regulatory compliance. We believe that the evaluation work that was completed during the past year and incorporation of CIM as a key component of Phillips 66’s future integrity management processes represents a significant step forward in fulfilling their mandate. We look forward to continued collaboration with Phillips 66 personnel to enhance Pattern Detection, Interacting Threats and planned future functionality of CIM, to address more of the industry’s requirements that are best managed with new cloud technologies.”

The initial term of the agreement is through December 2018, with provisions for renewal through 2024. CIM usage fees will be invoiced monthly based on the number of miles of pipeline data ingested into CIM and will also include charges for Microsoft Azure platform usage and other reimbursable expenses as they occur. The annualized revenue associated with this contract is anticipated to be in the low 7 figure range when the Client completes the loading of all their pipeline data into CIM.

About OneBridge Solutions Inc.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc. (“OneBridge”), is currently focused on the U.S. Oil & Gas pipeline market, which management estimates represents 60% of the global potential revenue for the Company’s products. OneBridge develops and markets revolutionary new software as a service (“SaaS”) solutions for the Oil & Gas pipeline industry which assists operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements.

OneBridge utilizes proprietary Machine Learning algorithms and a single geo-spatial database to conduct predictive analytics on structured and unstructured big data on a highly scalable level that cannot be practically replicated through manual efforts, to provide pipeline companies with the functionality they require to safely operate, manage and maintain their pipeline infrastructure as smart assets. The OneBridge Cognitive Integrity Management (“CIM”) solution provides Data Normalization, Cognitive Learning,  Business Intelligence and Visualization in a SaaS solution that leverages Data Science, Azure Machine Learning, HoloLens, Microsoft Power BI Embedded and other components of the Microsoft Azure: Cloud Platform and Services. Visit www.onebridgesolutions.com for more information.

About OneSoft Solutions Inc.

OneSoft Solutions Inc. has developed software technology and products that have capability to transition legacy, on premise licensed software applications to operate on the Microsoft Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost efficient subscription based business model utilizing the Microsoft Azure: Cloud Platform and Services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.

 

ON BEHALF OF THE BOARD OF DIRECTORS

ONESOFT SOLUTIONS INC.

Douglas Thomson

Chair

For more information, please contact

Dwayne Kushniruk, CEO

dkushniruk@onesoft.ca (780) 437‐4950

 

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided for the purpose of delivering information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; the efficacy of its software; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition;  ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the  United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.

Neither the 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.

 

 

 

OneSoft Solutions Inc. Provides Business Update and Reports Financial Results for the Three Months Ended May 31st, 2017

Edmonton, Alberta, Canada (July 27, 2017) – OneSoft Solutions Inc. (the “Company” or “OSS”) (Canada TSX-V: OSS; USA OTCQB: OSSIF, a North American developer of cloud-based business solutions announces its financial results for the three months ended May 31, 2017.

Financial results are summarized as follows:

Q1 Fiscal 2018 Operational Highlights

Our Cognitive Integrity Management (“CIM”) and HoloLens solutions were demonstrated at the annual Pipeline Pigging and Integrity Management (“PPIM”) tradeshow held in Houston, Texas between February 27 and March 3, 2017. On March 29, 2017, OneBridge presented its solutions at a Pipeline Asset Management Workshop hosted by Microsoft at their Technology Center in Houston, which was attended by senior managers from approximately 30 companies who are responsible for pipeline integrity roles including integrity management, maintenance, data science, analytics and information technologies. OneBridge presented from a tradeshow booth at the Banff 2017 Pipeline Workshop from April 3-6, 2017 which focused on various aspects of the oil and gas pipeline industry, including regulatory and standards development; corrosion; integrity, and emergency preparedness and response. Microsoft sales teams worked collaboratively with us by donating computer hardware, personnel and other resources which assisted our presence at these venues. We consider these activities as being successful in that they raised awareness of the OneBridge solution, allowed us to make important industry contacts and initiated interest with service organizations which could lead to subscriptions to use our product at some future date.

In the quarter, the Company added to its operational capabilities by hiring additional software development staff, data scientists, and a marketing director whom together we believe will reduce our development timelines and increase our sales and marketing effectiveness.

On March 6, 2017, certain insiders sold some of their shares and used a portion of the sale proceeds to exercise warrants to replace the shares sold, which raised $1,822,389 for the Company without incurring any dilution for other shareholders. The Company completed listing its shares on the U.S. OTCQB market in May 2017 to provide a venue for U.S. citizens to trade the Company’s shares.

The three months ended May 31, 2017 (“Q1 Fiscal 2018”) was the first full quarter wherein revenue generation from the Company’s CIM product was recorded following its commercial market release in January 2017. Revenue for the quarter was $223,093, of which $210,593 was derived from a CIM SaaS subscription, versus $102,528 in the same quarter last year, none of which was due to CIM. Gross profit was $206,255 this quarter versus $85,311 in the comparative quarter last year. $284,705 of costs met the criteria for capitalization as software development costs as compared to $309,435 this period last year. The net loss for the quarter was $500,745 versus $404,473 in the comparative prior year quarter.

Financial outlook for fiscal 2018 and progress in Q1 2018

We continue to focus on the US market with its 2.7 million miles of oil and gas transmission pipeline infrastructure of which approximately 600,000 miles is our initial target market, as these are the sections of pipelines that are accessible by inline inspection tools and have, or could have, ILI data. OneBridge’s commercial pricing of CIM for Fiscal 2018 is at a fixed fee of USD $60 (or CAD $78, assuming a currency exchange premium of 30%) per data mile for one year of service. Azure computing fees are incremental to CIM charge out rates. Cost of goods sold, with the possible exception of staff salaries allocated to direct costs, are expected to remain low for the foreseeable future. In Fiscal 2018, these will be near zero due to Azure costs being offset by unused Azure credits previously granted by Microsoft, and less than 10% of revenue thereafter.

In our Q4, Fiscal 2017 MD&A (published on SEDAR on June 1, 2017), we provided a summary of our revenue and cash expense targets for our fiscal year ending February 28, 2018 (the “Fiscal 2018 Budget”), along with key factors and assumptions made by Management. The following table provides updated disclosure regarding the Company’s Fiscal 2018 Budget and achievement of stated objectives in Fiscal 2018 Q1 ended May 31, 2017.

Objectives stated for the Fiscal 2018 Budget published in the Feb. 28, 2017 MD&A Updates as at May 31, 2017
Management’s stated cash generation objective is to invoice sufficient data miles of CIM subscriptions to pay the majority portion of our cash expenses prior to working capital requirements and to continue increasing the capabilities of CIM by developing additional functionality. Management’s budgetary forecast for the three months ended May 31, 2017 (“Q1 2018”) included in the Fiscal 2018 Budget was achieved. In the quarter, a new data base schema was initiated for CIM to allow the addition of new features. New functionality added during the quarter was the ability to mark pipeline segments as having been repaired, the ability to project corrosion growth 10 years into the future and the ability to export data from the system. Improvements were also made to the algorithms that align the features of multiple pipeline assessment data sets.
Revenue Scenario 1 Using the charge out rate of USD $5.00 per pipeline data mile per month plus Pilot Project and Azure usage fees, revenue of $3,018,000 is projected to be generated, providing the full 359,505 cumulative data miles are invoiced. Under this scenario, cash of $858,000 will be consumed in the year, comprised of a $150,000 cash loss (pre-software capitalization), $594,000 for working capital purposes and $114,000 for computer upgrades and additions. Revenue Scenario 2 – Lower level of SalesOnly 259,753 cumulative data miles are invoiced due to a lower attainment of new customers and our second private preview customer using CIM for a reduced level of mileage than assumed in Revenue Scenario 1. Using the same billing rate per mile and Pilot Project fees as stated above, the invoiced mileage would generate revenue of $2,120,000. Cash expenses would be unchanged from Scenario 1 of the Fiscal 2018 Budget and revenue less cash expenses would leave a shortfall of $1,048,000. Capital assets purchases would be unchanged and working capital requirements would reduce to $396,000. The Company would consume cash of $1,558,000 in the year. After conversion of warrants as stated below, the Company would end the fiscal year with cash of $1,517,000. In Q1 2018, cumulative data miles invoiced, rate per mile and revenue invoiced were achieved in accordance with Fiscal 2018 Budget expectations. As at the quarter end, contract negotiations were underway with one private preview customer and one Pilot Project customer, and sales processes were underway with additional potential customers whom we believe will engage in Pilot Projects to use CIM for their operations. We continue to attempt to engage a second private preview customer to use CIM on a commercial basis, which has not yet occurred as at the quarter end. Expenses were less than those budgeted in the Fiscal 2018 Budget. Cash generated in the first quarter of 2018 was $91,000 higher than that budgeted primarily due to less cash being consumed for working capital purposes than budgeted. 

 

Warrant Financings under Revenue Scenario 1Management believes that $4,050,000 will be raised from exercise of the share purchase warrants currently outstanding due to their average exercise price of $0.13 being less than the price of the Company’s shares in the publicly traded markets and due to the warrants expiry date in February and March of 2018. Warrant Financings under Revenue Scenario 2 

Due to lower revenue, only 50% of the outstanding warrants may be exercised, generating cash of $2,983,000

Cash received from warrants exercised during the quarter was $1,907,680. Management’s Fiscal 2018 Budget forecasts for exercise of Warrants remains unchanged as at Fiscal 2018 Q1 ended May 31, 2017.
Expenses in $000’s (for both Revenue Scenarios 1 & 2), Year ending Feb. 28, 2018. Salaries & Benefits 2,702 General & Administrative 387Sales & Marketing 375

Non-cash expense: stock compensation costs (295)

Total cash expenses 3,168

Revenue less cash expenses (150)

Note: Revenue is expected to increase monthly during the year while expenses will be essentially unchanged each quarter.

Expenses in $000’s for Q1 2018. Direct costs – salary allocation 12
Salaries & Benefits 659

General & Administrative 162

Sales & Marketing 74

Non-cash expense: stock compensation costs (102)

Total cash expenses 805

Revenue less cash expenses (582)

Fiscal 2018 Q1 ended May 31, 2017 essentially met our operational budget expectations.

Business outlook

We are actively engaged in discussions and actions with multiple potential new customers. As is often the case with the adoption of disruptive technologies, our two main challenges appear to be long sales cycles which we anticipate may be six months or more and the reluctance to embrace a new solution to replace legacy practices.

To address these challenges, OneBridge created a Pilot Project program to allow prospective customers to use CIM on a trial basis by submitting their data for a portion of their pipeline and using CIM to quickly analyze and report on it so they can experience first-hand the value proposition of using CIM. Pricing for a Pilot Project participant has been set within the typical financial authorization levels of integrity management personnel, to reduce sales cycles and to expedite the onboarding of new customers using CIM. We believe the value proposition of using CIM, once demonstrated with a customer’s specific data, will be highly compelling and lead to quicker acceptance by new customers to use our product. We further believe that once key industry participants who have used our solution share their CIM user experience with their peers, which typically occurs at industry gatherings, work-shops and conventions, our CIM solution will gain traction as a credible alternative to less effective and efficient legacy solutions used by industry today.

It is our belief that the combination of: (i) OneSoft’s alignment with Microsoft cloud deployment strategies; (ii) our deep domain expertise with respect to the pipeline industry and development expertise regarding cloud computing; (iii) the high degree of interest and motivation of oil and gas pipeline customers to improve their safety practices; and (iv) the need for hazardous pipeline operators to comply with increasingly stringent operational, safety and regulatory requirements are compelling factors that have potentially positioned the Company for significant future growth and opportunity. We believe that our solutions are ideally poised to provide the comprehensive and cost-effective functionality that our potential customers are seeking. We also believe that legacy systems in use today are not able to replicate the capabilities that our cloud-based solutions that leverage big data and machine learning data science can provide.

Our corporate development strategy continues to encompass investigation and pursuit of initiatives that foster value creation for our shareholders, including synergistic joint ventures and potentially merger and acquisition scenarios.

Please review the Management’s Discussion and Analysis and Condensed Consolidated Financial Statements for the three months ended May 31, 2017 on SEDAR (www.sedar.com) for more detailed information regarding the Company’s results.

Grant of stock options

On July 25, 2017, the Company granted 275,000 stock options to the Directors and Officers of the Company as a result of their reappointment following the Annual General Meeting of the shareholders. 325,000 stock options were also granted to senior executives as part of their compensation. All options have a strike price of $0.27 per share, vest 50% on grant date and 50% on the anniversary date, and will expire in five years if not exercised.

ON BEHALF OF THE BOARD OF DIRECTORS 
ONESOFT SOLUTIONS INC.
Douglas Thomson
Chair

For more information, please contact:
Dwayne Kushniruk, CEO
dkushniruk@onenfp.com
780-868-9507

Forward-looking Statements

This Press Release contains historical information, descriptions of current circumstances and statements about potential future developments and anticipated financial results, performance or achievements of the Company. The latter statements, which are forward-looking statements, are presented to provide guidance to the reader but their accuracy depends on several assumptions and are subject to various known and unknown risks and uncertainties. Forward-looking statements are included under the headings, “Business Outlook” and “Financial Outlook for Fiscal 2018 and Progress in Q1 2018”, When used in this Press Release, such statements may contain such words as “may,” “will,” “intend,” “should,” “expect,” “believe,” “outlook,” “predict,” “remain,” “anticipate,” “estimate,” “potential,” “continue,” “plan,” “could,” “might,” “project”, “targeting” or the negative of these terms or other similar terminology. Forward looking information in this Press Release includes, without limitation, statements regarding funding requirements. These statements are based on management’s current expectations regarding future events and operating performance, are based on information currently available to management, speak only as of the date of this Press Release and are subject to risks which are referenced on page 16 of the Management Discussion and Analysis for the year ended February 28, 2017 and in the Company’s other public filings on the Canadian Securities Administrators’ website at www.sedar.com (“SEDAR”) and as updated from time to time, and would include, but are not limited to, dependence on market economic conditions, sales and margin risk, acquisition and integration risks, competition, information system risks, risks associated with the introduction of new products, product design risk, environmental risks, customer and vendor risks, credit risks, currency risks, tax risks, risks of legislative changes, risks relating to remote operations, key executive risk and litigation risks. In addition, there are numerous risks associated with an investment in the Company’s common shares, which are also further described in the “Risks and Uncertainties” section referenced on page 16 of the Management Discussion and Analysis for the year ended February 28, 2017, and as updated from time to time, the Company’s other public filings on SEDAR. These risks and uncertainties may cause actual results to differ materially from those contained in the statements. Such statements reflect management’s current views and are based on certain assumptions. Some of the key assumptions include, but are not limited to: assumptions regarding the performance of the Canadian and the United States economies; interest rates; exchange rates; capital availability; the amount of the Company’s cash flow from operations; tax laws; laws and regulations relating to the protection of the environment; and capital spending requirements or planning in respect thereto, including but not limited to the performance of any such business and its operation. They are, by necessity, only estimates of future developments and actual developments may differ materially from these statements due to several known and unknown factors. Investors are cautioned not to place undue reliance on these forward-looking statements. All forward-looking information in this Press Release is qualified by these cautionary statements. Although the forward-looking information contained in this Press Release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Certain statements included in this Press Release may be considered “financial outlook” for purposes of applicable securities laws, and such financial outlook may not be appropriate for purposes other than this Press Release.

The forward-looking statements contained in this Press Release are made as of the date of this report, and should not be relied upon as representing management’s views as of any date subsequent to the date of this report. Except as required by applicable law, the Company undertakes no obligation to publicly update or otherwise revise any forward-looking statement, whether because of new information, future events, or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

OneSoft Solutions Inc. presents at MicroCap Investors Conference in Toronto and qualifies for the AITC

Edmonton, Alberta, Canada (July 7, 2017) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V: OSS, OTCQB: OSSIF) is pleased to announce that the Company was one of 35 microcap public companies that presented to interested potential investors at the MicroCap Investor Conference held in Toronto on June 27, 2017. Approximately 150 investors and analysts attended the event, wherein OneSoft management presented a 30 minute overview of the Company to an open audience and conducted one-on-one meetings throughout the day with certain potential investors who were seeking more information about the Company.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., has created a software solution which assists oil and gas pipeline companies to save lives, protect the environment and reduce costs by helping those companies identify and prioritize segments of their pipelines that need refurbishment and repair before pipeline failures occur. Led by Tim Edward and Brandon Taylor, Presidents of Canadian and US OneBridge operations, respectively, and assisted by a highly trained team of software developers and data scientists, OneBridge has developed software on the Microsoft cloud platform that uses machine learning, predictive analytics and big data to align and analyze features from pipeline in-line inspection data sets and presents the analyses and insights in a highly intuitive and insightful manner that cannot be practically replicated without such cloud computing technologies.

“We were highly encouraged by the response we received from potential investors, who appeared to understand and appreciate the new technology concepts that we have embraced to develop our Cognitive Integrity Management, or CIM, solution” commented Dwayne Kushniruk, CEO of OneSoft. “Most attendees also commented positively about our participation in the Microsoft Accelerator program and our ongoing collaborative working relationship with Microsoft, which they believe generates a high degree of credibility and differentiation of OneSoft from other compelling small cap technology opportunities”.

Alberta Investor Tax Credit (“AITC”) Program

OneSoft has received approval from the Alberta Government to raise up to $4,034,550 of new equity capital, under conditions set out in section 37 of the Investing in a Diversified Alberta Economy Act designed to spur economic diversification and job creation. The Company’s eligibility in the AITC program should be of high interest to Alberta investors who currently own share purchase warrants previously issued by the Company, and whom we believe may be encouraged to exercise their warrants to acquire shares. Warrant holders who file Alberta tax returns may qualify to receive tax credits equal to 30% of the amount invested to exercise warrants to acquire new shares in the Company. Investors must meet various conditions to qualify for this tax credit as outlined in the AITC legislation.

About OneSoft Solutions Inc.

OneSoft Solutions Inc. has developed software technology and products that have the capability to transition legacy, on-premise licensed software applications to operate on the Microsoft Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost-efficient subscription based business model utilizing the Microsoft Cloud platform and services, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.

About OneBridge Solutions Inc.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., is developing revolutionary new applications for the Oil & Gas pipeline industry, which we believe will be able to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements. OneBridge utilizes proprietary Machine Learning algorithms and a single geo-spatial database that accommodates pipe-centric, structured and unstructured big data, with the capability to address the key functions that pipeline companies require to manage, operate and maintain their pipelines. OneBridge’s Cognitive Integrity Management (“CIM”) solution is deployed as a SaaS solution leveraging Data Science, Azure Machine Learning, HoloLens, Microsoft BI and other components of the Microsoft Cloud platform and services. Visit www.onebridgesolutions.com for more information.

ON BEHALF OF THE BOARD OF DIRECTORS
ONESOFT SOLUTIONS INC.
Douglas Thomson
Chair

For more information, please contact
Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
(780) 437‐4950

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided to delivering information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to several factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by Canadian securities law.

Neither the 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.