OneSoft on Q1 2020 Company Performance, Impact of COVID-19/Oil Price Volatility and Goals for 2020

SNNLive caught up with Dwayne Kushniruk, CEO of OneSoft Solutions, Inc. (TSX-V: OSS) (OTCQB: OSSIF), via Zoom to discuss (Click the time stamp to jump to each answer, or watch it all):

OneSoft Solutions Inc. Reports Q1 2020 Results

183% Quarter-over-Quarter Revenue Increase, Positive Adjusted EBITDA, Positive Net Income, Strong Balance Sheet

Edmonton, Alberta, Canada (May 19, 2020) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V: OSS, OTCQB: OSSIF), a North American developer of cloud-based business solutions, is pleased to announce results for the financial quarter ended March 31, 2020 (Q1 of Fiscal 2020). Please refer to the interim unaudited condensed Consolidated Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the three months ended March 31, 2020 filed on SEDAR at www.sedar.com for more information.

Financial summary for Q1 ended March 31, 2020

The following table summarizes the first quarter ended March 31, 2020, compared to March 31, 2019:

Financial summary for Q1 ended March 31, 2020

  • Total revenue for the quarter ended March 31, 2020 (“Q1 2020”) was $1,675,486, a 183% increase over revenue of $592,302 in the comparative quarter of the prior year. Revenue consisted of $1,616,267 of annual recurring revenue (“ARR”) and $59,219 of Other Revenue, representing increases of 180% and 284%, respectively, over the comparative quarter.
  • Comprehensive income was $10,609 versus a Comprehensive loss of $967,391 for the comparable period in the prior year.
  • Adjusted positive EBITDA was $250,478 compared to negative EBITDA of $669,729 for the comparable period in the prior year.
  • On March 31, 2020, cash and short-term investments were $9.7 million ($10.5 million on December 31, 2019), working capital was $8.6 million ($8.2 million on December 31, 2019) and the Company has no debt.
  • OneSoft tracks revenues in three categories and various buckets, as was described on pages 9-10 of the Company’s Management Discussion and Analysis (“MD&A”) for the fiscal year ended December 31, 2019:
    • ARR includes revenue from SaaS Subscription, ILI Log Ingestion, Microsoft Azure and Specialized Functionality Module fees associated with the Company’s Cognitive Integrity ManagementTM (“CIM”) SaaS solution.
      • Other Revenue includes Proof of Concept (“POC”) and services revenue that typically is non-recurring.
      • There was no Software development project revenue in the current or comparative quarters.

The following chart summarizes some of the key financial revenue metrics followed by Management, with comparisons to prior periods, as described in the December 31, 2019 MD&A referenced above.

Operational Highlights for Q1 ended March 31, 2020

Highlights for Q1 include the following:

  • On February 13, 2020, the Company announced its Innovation Lab to collaborate with Microsoft [NASDAQ:MSFT], oil and gas (“O&G”) pipeline operators and select industry vendors. Innovation Lab, which is separate from the Company’s core operations, seeks to fast-track the creation and scaling of new ideas to advance digital transformation agendas through the Company’s revolutionary machine learning and data science technology using Microsoft’s Azure cloud computing platform and services. We are now investigating various potential business development alternatives with certain clients, prospective customers and industry experts and vendors, which may result in future joint initiatives that broaden the Company’s CIM functionality, intellectual property (“IP”) and total addressable market (“TAM”) potential.
  • On February 18, 2020, the Company announced the appointment of a senior O&G industry veteran as its new VP Sales, who will lead sales and marketing activities focused on senior personnel of our clients who typically drive digital transformation initiatives within their organizations.
  • On February 24, 2020, the Company attended PPIM 2020, the industry’s primary annual forum devoted exclusively to pigging for maintenance and inspection, pipeline integrity evaluation and repair, and presented (see video) a white paper profiling Statistical Analysis of Dig Operations to pipeline industry professionals. This white paper documents the high-value proposition of utilizing CIM to improve Repair Fraction effectiveness by optimizing dig selection criteria as part of integrity management processes.
  • The Company essentially completed the on-boarding processes in Q1 2020 for the new clients who adopted CIM in 2019, which contributed $0.709 million of revenue and reduced deferred revenue by the same amount.
  • Regarding product development, the Company continued to advance its SaaS products, IP and competitive moat during the quarter, including development of functionality that is considered foundational for future new products that we anticipate will address the segments of O&G pipeline infrastructure that are managed using Direct Assessment processes (rather than through collection of ILI data).
  • The Company continued to engage in various POCs with potential new clients in Q1 2020, which were in various stages of progress but not completed at the quarter end. The Company’s sales funnel is increasing and remains robust, with sales activities currently underway involving prospective new clients that collectively operate more than 100,000 miles of pipeline infrastructure.

Business Outlook

Business Disruption Due to Covid-19

While the extent of future potential business disruption due to Covid-19 cannot be known with any degree of certainty Management anticipates that business will be disrupted for at least part of 2020, but not overly threatening to the Company’s longer-term business and outlook. We believe that OneSoft is well-positioned to deal with this unusual business disruption as most of our clients and prospective customers have by now implemented procedures using on-line and video conferencing tools to minimize negative impacts caused by travel restrictions and lack of usual access to people, data and other resources they require to operate their businesses. We do not anticipate slow-down of product development or inability to service our clients, as our cloud-computing environment insulates us from the quarantine and disruptive work scenarios that have hampered businesses that depend on on-premise computing platforms and conventional office environments.

Our sales and business development activities started to return to a new “near normal” in mid-April, after prospective customers transitioned their business activities to on-line. We believe that Covid-19 may be a catalyst for future sales because some of our prospective customers now have a new appreciation for cloud computing and digital strategies that empower their employees to access critical data on-line using any web-connected device, especially while working remotely. Although we have encountered some delays in signing new clients, we anticipate that sales activities proceeding under the “new normal” conditions will ultimately be successful. Although timing and recognition of the revenue is unknown and not in our control, we expect to complete new sales in 2020.

Regulatory Influence on OneSoft Future Sales is Positive

The global O&G pipeline infrastructure continues to age, and regulatory compliance for U.S. operators in particular, where OneSoft is currently focusing sales efforts, is becoming more stringent as mandated by the U.S. regulator, the Pipeline and Hazardous Materials Administration (“PHMSA”). We believe that existing regulatory and revised compliance requirements that will apply in the future are becoming more opportunistic for OneSoft. The new “Mega Rule” was scheduled to take effect on July 1, 2020 but some requirements were relaxed to December 31, 2020 in response to Covid-19 disruptions. The Mega Rule mandates, amongst other requirements, that pipeline operators adopt more sophisticated ILI data management and analyses capability, which is squarely in CIM’s sweet spot to address. More pipeline infrastructure will need to be operated within federal compliance standards in the future, including requirements to adopt ILI data analyses for these pipelines. Additionally, certain pipeline inspection and maintenance standards and operating guidelines pertaining to ILI data management and analysis that were only recommended practices in the past will become mandatory to maintain regulatory operational compliance in the future.

Pursuit of New Visions and Opportunities Through OneBridge Innovation Lab

The Company announced establishment of its Innovation Lab in February 2020, to collaborate with clients, prospective customers and industry experts and vendors in pursuit of new visions and opportunities.  We are investigating projects with several third parties with the objective of advancing them to a proof of concept stage, and potentially to full product development and commercialization. These projects have the potential to increase the Company’s total addressable market and generate incremental revenue by adding new functionality to the CIM platform and by launching CIM technology into new industries.

Sales and Revenue

Our highest priority in 2020 is to sign new clients using our “land and expand” growth strategy to expand our foundation and opportunity to increase future revenues. Management anticipates that ARR will double in 2020 over 2019, as a result of some current clients increasing use of our solutions by on boarding their regional affiliate operations, and through addition of new clients.  Management’s key objective is to focus on growing annual recurring revenue, as we believe this metric is a key factor used in determining the value of SaaS companies.

Corporate Development and Outlook

Management will continue to focus on increasing shareholder value, by advancing the Company’s intellectual property and by addressing the multiple factors that we believe enhance value for shareholders of SaaS companies. We will continue to improve awareness of our Company and investment opportunity by increasing our participation in various on-line investor and industry conferences, road show events (when those become practical to resume) and other initiatives that target Canadian and U.S. investors, particularly with those who have specific interest in microcap companies that focus on artificial intelligence, machine learning, SaaS, and environmental, social and governance themes.

Given the Company’s strong balance sheet with $9.7 million of cash and short-term investments, no debt, current cash burn rate and strong sales pipeline, we believe the Company is well-funded to pursue our business and strategies, with no requirement to raise additional capital.

Please refer to the MD&A for the quarter ended March 31, 2020 filed on SEDAR for further information and details.

NOTE:  OneSoft Solutions Inc. will hold its Annual and Special Meeting of shareholders on Wednesday, May 20, 2020 at 1:00 p.m. (Edmonton time; 3:00 p.m. Eastern Time) via webcast at https://global.gotowebinar.com/register/224279867 and telephone access at (647) 497-9386 using access code 922-536-798. Shareholders who wish to attend should plan to log in and register 15 minutes prior to the start of the meeting.

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
647-494-7710

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 deliver 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; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally, which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; 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 because 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.

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

OneSoft Solutions to Present at the Planet MicroCap Showcase Virtual Investor Conference 2020 on April 22, 2020

EDMONTON, AB / April 16, 2020 / OneSoft Solutions Inc. (the “Company” or “OSS”) (TSX-V:OSS, OTCQB:OSSIF), a North American developer of cloud-based business solutions, today announced that CEO Dwayne Kushniruk will be presenting at the Planet MicroCap Showcase 2020 on Wednesday, April 22 at 1:00 PM EST. Mr. Kushniruk will also host virtual 1-on-1 investor meetings throughout the day.

To access the live presentation, please use the following information:

Planet MicroCap Showcase Virtual Investor Conference 2020

Date: Wednesday, April 22, 2020
Time: 1:00 PM Eastern Time (10:00 AM Pacific Time)
Webcast: https://www.webcaster4.com/Webcast/Page/2059/34196

“We had a great year in 2019 during which we onboarded new clients, completed several software projects to enhance our solution, more than doubled recurring revenue over the prior year and significantly strengthened our balance sheet,” said OneSoft’s CEO Dwayne Kushniruk. “Our investigations in February at PPIM, our largest global conference, reaffirmed our belief that our solutions represent leading technology in our marketplace, with no direct competitors. Our innovative machine learning approach, combined with the extensive learnings we’ve aggregated by analyzing data from tens of thousands of miles of pipeline and more than 50 million features, continues to widen our competitive moat. Our sales pipeline remains very strong, bolstered by new U.S. regulatory requirements scheduled to take effect in mid-2020 which mandate pipeline operators to inspect more pipeline infrastructure and improve their data collection and analyses processes. I’d like to thank Planet MicroCap for hosting this online Showcase event which helps OneSoft to communicate, during this disruptive time, the status of our operations and prospects going forward.”

How to Book A Virtual Meeting with OneSoft Solutions

If you would like to book a 1-on-1 investor meeting with Mr. Kushniruk, please make sure you are registered for the virtual event here:
https://www.planetmicrocapshowcase.com/signup

1-on-1 meetings will be scheduled and conducted via private, secure video conference through the conference event platform.

If you can’t make the live presentation, all company presentations “webcasts” will be available directly on the conference event platform on this link under the tab “Schedule”: https://www.planetmicrocapshowcase.com/presenting-companies

About Planet MicroCap Showcase

Planet MicroCap Showcase brings together promising companies with well-known and influential microcap, investors, fund managers and newsletter writers for three days of company presentations, one-on-one meetings, and networking.

If you would like to attend the Planet MicroCap Showcase, please register here: https://planetmicrocapshowcase.com/signup

News Compliments of ACCESSWIRE.

For more information, please contact

Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
780-437-4950

Sean Peasgood, Investor Relations
Sean@SophicCapital.com
647-494-7710

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 deliver 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; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally, which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; 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 because 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.

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

OneSoft Solutions Inc. Reports Financial Results for the Year ended December 31, 2019

CIM Revenue More Than Doubles Year-over-Year; Balance Sheet Remains Very Strong

EDMONTON, AB / March 26, 2020 / OneSoft Solutions Inc. (the “Company” or “OSS”) (TSXV:OSS)(OTCQB:OSSIF), a North American developer of cloud-based business solutions, provides a business update and announces its financial results for the year ended December 31, 2019. Please refer to the Audited Consolidated Financial Statements, Management’s Discussion and Analysis (“MD&A”) and the Annual Information Form for the year ended December 31, 2019 filed on SEDAR at www.sedar.com for more information. Unless otherwise stated, all dollar amounts are Canadian dollars.

Note to reader: Effective in 2018, the Company changed its financial year-end from February 28 to December 31. The change in year-end resulted in the Company filing a one-time, ten-month transition year financial statement covering the period of March 1, 2018 to December 31, 2018. Subsequent to the transition year, the Company’s financial year is January 1 to December 31.

FINANCIAL RESULTS

(in $,000)’s, per share in $Year ended December
2019
Ten months ended
December 2018
Increase /
(Decrease)
 $$%
Revenue2,7124,328(37.3)
    
Gross Profit2,0104,143(51.5)
Comprehensive (loss) income(3,585)2951,316.3
Weighted average common shares
outstanding – basic (000)’s
108,974100,725 
Weighted average common shares
outstanding – diluted (000)’s
108,974105,120 
Per share:   
Comprehensive income (loss) – basic(0.03)0.00 
Comprehensive income (loss) – diluted(0.03)0.00 
    
Cash and short-term investments10,5122,015421.6
Working capital8,2212,419239.8

“2019 was a pivotal year for OneSoft, from several perspectives,” said Dwayne Kushniruk, CEO of OneSoft. “Recurring revenue more than doubled this year, we on-boarded four new clients, enhanced our IP, and strengthened our balance sheet significantly. Client satisfaction with our solutions is high, sales processes with potential new customers are actively underway and our sales funnel continues to grow. We have aggregated what we believe to be the industry’s widest and most integrated pool of integrity data coupled with vendor and technology-agnostic inline inspection results. This allows clients to leverage their historic asset and inline inspection data to make better data-driven decisions and potentially save millions of dollars in operational costs. We believe OneSoft is well-positioned, with first mover advantage and a strong competitive moat based on machine learning, data science and cloud computing on Microsoft’s Azure platform, to continue to increase our lead in assisting industry players with digital transformation.”

Mr. Kushniruk continued, “With the recent disruption of business caused by Covid-19, we are now witnessing some advantages of digital transformation for the industry. Interactions with our clients that have included CIM in their digital strategies confirm that they have been able to seamlessly shift to remote operations, allowing employees to access their systems and data in a secure manner while working from the safety of their homes. We look forward to the continued growth of our business in 2020 and sincerely thank all of our employees, clients and stakeholders for supporting our vision and objectives.”

HIGHLIGHTS OF FISCAL 2019

Highlights for Fiscal 2019 include the following:

  • Total revenue in Fiscal 2019 was $2.7 million, of which $2.5 million was annual recurring revenue (as defined in Fiscal 2020 Revenue Components on page 9 of the MD&A), more than double the $1.1 million annual recurring revenue generated in the ten months ended December 2018. In 2018, $3.0 million was earned from completing a software development project and no similar revenue occurred this year.
  • The increase in revenue occurred as a result of increasing the Company’s client count, from two as at December 31, 2018 to six clients as at December 31, 2019 that have entered into multi-year software-as-a-service (“SaaS“) usage agreements. The clients include one independent pipeline operator, four Fortune 500 companies and one industry Super-major1 who collectively operate 51,000 miles of oil and gas (“O&G“) pipeline infrastructure and now utilize the Company’s Cognitive Integrity ManagementTM (“CIM“) SaaS solution as the foundation for their pipeline integrity management processes.
  • OneSoft closed a bought deal financing on April 25, 2019 which generated $8.4 million (net of financing expenses) that is being used to accelerate business growth and research and development initiatives designed to increase the Company’s competitive moat. Approximately 75% of the capital raise was subscribed to by institutional investors.
  • Cash and short-term investments at Fiscal 2019 year-end increased to $10.5 million, from $2.0 million at December 31, 2018, giving the Company sufficient cash to execute its current business plan. The Company has no debt and $8.2 million of working capital.
  • The Company made significant progress in advancing its research and development (“R&D“) roadmap by developing and adding new software functionality and enhancements requested by users; a “Dig Management” software module which increases the footprint usage of CIM for clients; initial structure for Direct Assessment (pipelines for which inline inspection (“ILI“) data is not gathered); other enhancements to accommodate regulatory and security requirements and new tools to automate and scale on-boarding of new clients.
  • 3,922 inline assessments were ingested into CIM during Fiscal 2019, resulting in 142 new learnings of dig selection criteria and more than 52 million features, across all data analyzed to date. Active client users of CIM who typically spend most of their workday in the application increased from approximately 20 in 2018 to 167 in 2019.

1 Super-majors are considered to be the seven largest oil and gas pipeline companies world-wide.

HIGHLIGHTS SUBSEQUENT TO YEAR-END FISCAL 2019

The Company presented a “Repair Fraction” white paper at the Pipeline Pigging and Integrity Management (“PPIM“) conference held in Houston, Texas in February, 2020, the oil and gas pipeline industry’s primary global forum devoted exclusively to pigging for maintenance, inspection and integrity evaluation and repair. The Company was invited to present its first quantifiable study outlining the value proposition of clients using CIM, which demonstrates that the Repair Fraction of excavations for pipeline repairs identified by CIM can be greatly improved over determinations made by legacy solutions, thereby resulting in significant potential cost savings for pipeline operators.

BUSINESS OUTLOOK

Management believes that Fiscal 2019 was a successful year for OneSoft, from both operational and corporate perspectives. We doubled annual recurring revenues from 2018 (10 months) to 2019 (12 months), tripled our client base, developed new software functionality that increased our credibility and footprint in our market and developed tools to scale and automate the on-boarding of future clients. We also strengthened our balance sheet through a capital raise, enabling the Company to capitalize on its first mover advantage and increase our competitive moat. The combination of $10.5 million of cash and short-term investments on hand at Fiscal 2019 year end, no debt, $8.2 million in working capital, increasing and sticky annual recurring revenues and a strong sales pipeline collectively serve to support the Company’s growing future opportunities and reduces risk for shareholders as the business matures.

Based on the comprehensive validation processes conducted by high-profile clients who on-boarded in 2019; communications with prospective customers who are currently investigating or engaged in proof of concept trials; and numerous interactions with other industry professionals and vendors, we believe that awareness and credibility of our Company and CIM platform are continuing to gain momentum within the U.S. oil and gas pipeline industry. Management is focusing efforts to meet Fiscal 2020 objectives as follows.

From a revenue and sales perspective:

  • Our highest priority in 2020 is to sign new clients in pursuit of our “land and expand” growth strategy, as this effort will serve to increase our data ingestion and iterations of our algorithms, expanding our foundation and opportunity to increase revenues over the longer term.
  • We anticipate that annual recurring revenue will again double year over year in 2020, as a result of some of our current clients increasing use of our solutions by on-boarding their regional affiliate operations, and through addition of new clients.

From a research and development (“R&D”) perspective:

  • With respect to maintaining our technological lead and competitive moat with machine learning IP, we intend to continue research and development of new modules for our CIM platform to increase our footprint of functionality that will support pipeline operators’ requirements and initiatives as they pursue digital transformation strategies.
  • To supplement our internal R&D efforts we intend to seek collaborative joint projects for our Innovation Lab with select clients, industry associations and third party industry vendors, to identify new synergistic white space opportunities to augment our intellectual property based on leveraging our machine learning, data science and cloud computing expertise.
  • We intend to continue to aggregate big data to advance our algorithms, increase our database of learnings for the industry and investigate potential new alternatives to monetize such learnings.
  • Based on our investigations at PPIM in February 2020, we believe we still have no direct competitors for our machine learning, cloud-based solution, and that our strategies and efforts will achieve our objective of increasing our competitive moat.

From a corporate perspective:

  • We intend to improve awareness of our Company and opportunity with U.S. investors by increasing our participation in various investor and industry conferences, road show events and other initiatives targeting potential investors who pursue artificial intelligence; machine learning; SaaS; and environmental, social and governance-associated investments in microcap companies.
  • Management will continue to operate the business with a strong focus on increasing shareholder value, by advancing the Company’s intellectual property and addressing the multiple factors that we believe tend to enhance value for SaaS companies.

Potential Business Disruption Due to Volatile Oil Price and Covid-19 Virus

Although it is difficult to predict future scenarios that OneSoft may need to contend with in Fiscal 2020 as a result of the depressed oil price and Covid-19 virus epidemic, we believe the Company is well-positioned to deal with unusual business disruption that started to unfold in early 2020.

  • With respect to depressed oil prices, our clients are midstream pipeline operators whose business is to transport oil and gas products and typically operate under long term contractual commitments based on fixed fee pricing for transporting products rather than pricing that fluctuates with the price of oil or gas. Product throughput must continue regardless of oil pricing volatility and assured revenues justify continuance of our clients’ integrity management and digital transformation strategies. Unlike upstream companies (oil and gas producers) whose capital and operating expenditure budgets are more closely linked with the price of oil and gas, we anticipate less disruption to our business with midstream clients as a result of volatile commodity pricing. Furthermore, PHMSA regulations that mandate periodic collection of ILI data for U.S. O&G pipeline infrastructure are still required, and it is possible that we may even benefit as a result of industry financial concerns if customers potentially accelerate their investigation and adoption of more efficient and cost-effective methodologies to improve financial operating metrics, which we believe our solutions deliver. As well, new PHMSA rules that are scheduled to be effective July 1, 2020 are anticipated to not only require operators to improve data gathering and analysis processes but to also assess more pipelines that are not currently subject to federal operational mandates, thus potentially expanding our U.S. addressable market.
  • With respect to Covid-19, most of our clients and prospective customers have by now implemented policies to minimize potential negative effects to operations, which impact travel and access to their employees for meetings. While face to face meetings with clients and prospective customers are currently restricted, we are well positioned to conduct meetings using on-line and video conferencing tools instead. Our Company has operated with remote home-based employees, rather than from a centralized office environment, since 2015. As a result, we do not anticipate slow-down of product development or expect material negative disruption to service our clients, as we are insulated from the potential quarantine and work stoppage scenarios that currently face businesses that use conventional office environments.

The extent of potential business disruption in Fiscal 2020 cannot be known with any degree of certainty. At this point in time, and given the information we have today, Management anticipates that business fallout from these factors will be disruptive for at least part of 2020, but not overly threatening to the Company’s longer-term business and outlook. We intend to closely monitor the situation and adjust as necessary as events unfold.

Fiscal 2020 Outlook

Given the Company’s priorities to focus on adding new clients, increasing data ingestion and analyses to augment our learnings database and accelerating new product development to increase our competitive moat and future opportunities, we expect to incur operational losses in 2020. Following the ramp-up of resource allocations to pursue these growth initiatives in 2019 the Company’s cash consumption in operations before the effect of changes in working capital accounts was $2,535,359, or an average of $633,840 per quarter. This cash consumption was offset by the generation of $2,711,126 cash from working capital accounts, of which $991,324 arose from deferred revenue as customers prepaid next year’s subscription to use CIM. Management believes they can, in part, finance a portion of the 2020 operational cash consumption in a similar manner.

Management’s current expectation, based on our sales pipeline, is to double revenue in Fiscal 2020 over the prior year, providing purchase decisions are not postponed due to unforeseen industry budget curtailments resulting from the commodity price volatility and Covid-19 disruptions. If such disruption were to occur, we believe the worst-case scenario will be a delay in achieving our objectives until more normal business conditions prevail. We also believe that such disruption would likely delay development funding for potential competing solutions, so potential risk to our competitive moat would not be significant during this period of disruption. In any event, we will continue to enhance our solutions and build stronger value for our Company and investors, and given the Company’s $10.5 million cash and short-term investments balance and current cash burn rate, we believe the Company is well-funded to pursue our business and strategies.

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
647-494-7710

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 deliver 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: the effects of the COVID -19 world pandemic and related effects on the North American global economy, crude oil price fluctuations, 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; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally, which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; 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 because 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.

LD MicroCap

OneSoft Solutions to Present at the 2020 LD Micro Virtual Conference

EDMONTON, CANADA / March 3, 2020 / OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS) (OTCQB:OSSIF) today announced that CEO Dwayne Kushniruk will be presenting at the third annual LD Micro Virtual Conference on Wednesday, March 4 at 8:20 AM PST / 11:20 AM EST.

You can access the live presentation at the following link: OneSoft Solutions Virtual Presentation.

“OneSoft Solutions has growing interest from investors because the Company’s attributes are of high interest in today’s investment climate. These include machine learning; cloud computing; a SaaS, recurring revenue business model; and the fact that our predictive analytics software supports Environmental, Social and Governance (“ESG”) activism by detecting threats to pipeline failures,” said Mr. Kushniruk. “LD Micro Virtual is an efficient way to reach many U.S. investors and provide a corporate update, especially following our recent attendance at the annual Pipeline Pigging and Integrity Management conference which draws the largest global audience of pipeline integrity professionals. We witnessed strong interest from customers and prospects at PPIM, and did not see a single competitive machine learning solution.”

“We are delighted to be hosting our third virtual event in order to showcase some of the truly unique names in micro-cap,” said Chris Lahiji, President of LD Micro. “There are a many people and companies who are unable to attend our live events, due to any number of reasons, so we are happy to offer an additional way for companies to present to investors without taking a lot of time out of their day-to-day operations. While virtual events will never replace the experience of sitting in the same room as other humans, it is a great format for updating the investor community and getting increased exposure.”

The conference will be held via webcast and will feature over 40 companies in the small or micro-cap space.

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

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 an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event).

In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe.

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

For the presenting schedule, please visit: https://www.ldmicro.com/events.

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 (NASDAQ:MSFT) Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline 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.

For more information, please contact

Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
(780) 437‐4950

Sean Peasgood, Investor Relations
Sean@SophicCapital.com
(647) 494-7710

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 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.

Profiles powered by LD Micro – News Compliments of Accesswire

OneSoft Dig to Repair Ratio White Paper Presented at PPIM 2020 in Houston, Texas

Machine Learning Technology Measures Effectiveness and Cost Savings for Pipeline Digging Programs

EDMONTON, ALBERTA, CANADA / February 24, 2020 / OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS) (OTCQB:OSSIF) is pleased to announce that representatives from the Company’s wholly owned operating subsidiary, OneBridge Solutions Inc. (“OneBridge”), presented a white paper profiling Statistical Analysis of Dig Operations (the “Study”) to pipeline industry professionals at PPIM 2020, the industry’s primary forum devoted exclusively to pigging for maintenance and inspection, as well as pipeline integrity evaluation and repair. The white paper confirms the high value proposition of utilizing OneBridge’s technology and products.

The Study was compiled by OneBridge employees Dr. Yevgeniy Petrov, Jordan Dubuc, Michael H. Murray and Tim Edward and based on statistical analysis performed by OneBridge’s Cognitive Integrity Management (“CIM”) solution. Data used for the study involved 1,074 in-line inspection (“ILI”) runs conducted between 1991 and 2017, on pipelines with installation dates ranging from 1920 to 2016 and more than 23,000 digs that were performed between 1959 and 2019, resulting in 171 miles of pipeline excavations in aggregate.

Based on historic dig records, we determined whether a productive (i.e., a necessary dig) repair was performed or if the pipe was simply recoated without additional action taken (an un-necessary dig) to calculate the “Repair Fraction”, as an assessment of the overall effectiveness of a dig program. With some variations, the Repair Fraction for the data used in this study was mostly consistent between 40 to 60% of digs completed.

The capability of CIM to assess pit-to-pit anomaly growth over multiple ILI runs enables pipeline operators to measure effects of specific factors to improve the Repair Fraction through identification of opportunities to optimize dig selection criteria to improve integrity management decision-making. For example, anomalies with higher growth rates should merit a repair more often than those with low growth rates. Whereas the CIM pit-to-pit growth model does exhibit this trend, the “half-life”-based model that is used by certain operators today shows a flat or negative correlation between Repair Fraction and anomaly growth, indicating that the half-life model does not as accurately identify anomalies that are most risky or in need of repair.

The Study concludes that OneBridge’s new tools and methodologies made available through advances in data science and machine learning allow clients to improve their integrity management programs. With CIM’s structured approach to integrity management decision-making, more rigorous management and analysis of integrity data and the use of modern tools which leverage the computational power of the cloud provide significant opportunity for deeper analysis and inspection of integrity management programs. The types of analysis presented can guide operators toward a more effective integrity program and allocation of dig program funds, and also potentially reduce overall risk by improving the selection of prioritized digs.

“This is our first such quantifiable study that has been published and we are in process of developing additional models where the learnings will be shared across our customers from both a risk and financial perspective. This would not be possible without having first built our CIM platform to aggregate big data from our customers and prospects, which involves tens of thousands of miles of pipeline data and learnings from more than 50 million features,” said Tim Edward, OneBridge President. “Even a 1% delta in improving Repair Fraction is significant, and we believe our customers may see efficiency gains in the 10 or 20% range, which will greatly improve their risk and financial metrics through use of CIM.”

“This was our fourth attendance at PPIM, which has been an annual occurrence since we founded OneBridge,” said Brandon Taylor, President and COO of OneSoft. “We met numerous clients, prospective clients and partners during the week who have been monitoring our progress and considering adoption of our CIM platform. New technology alternatives are typically showcased at PPIM and we remain confident that we are leading in innovation for the industry and can continue to scale revenue and growth based on the solid product and business strategies that we have developed to date.”

The full Study report and video of the OneBridge PPIM presentation can be accessed by clicking on the links provided.

About PPIM

The white paper was presented as part of the Pipeline Pigging and Integrity Management (“PPIM”) conference program held in Houston, Texas February 17-21, 2020, the oil and gas pipeline industry’s primary forum devoted exclusively to pigging for maintenance and inspection, as well as integrity evaluation and repair. Established in 1989, PPIM is celebrated its 32nd anniversary in 2020, with a global attendee presence. For more information, visit www.clarion.org/ppim/ppim20/index.php.

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 [NASDAQ:MSFT] Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline 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.

For more information, please contact

Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
(780) 437‐4950

Sean Peasgood, Investor Relations
Sean@SophicCapital.com
(647) 494-7710

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 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 Innovation Lab

OneSoft Introduces OneBridge Innovation Lab to Collaborate with Microsoft, Clients and Partners to Reduce Pipeline Failures

EDMONTON, AB / February 13, 2020 / OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSXV:OSS)(OTCQB:OSSIF) is pleased to announce the establishment of the OneBridge Innovation Lab, an innovation center that will work with Microsoft, clients and partners to prove new data science, machine learning and predictive analytic models to advance the oil and gas (“O&G”) pipeline industry.

Working collaboratively with Microsoft [MSFT] and O&G pipeline operators, the Innovation Lab represents a comprehensive and bold approach to innovation wherein OneBridge can incorporate multidisciplinary expertise involving legacy and leading-edge technologies concerning pipeline data management, analytics and processes. OneBridge Innovation Lab is structured to fast-track creation and scaling of new ideas to advance digital transformation agendas, through deployment of revolutionary machine learning and data science solutions based on Microsoft’s Azure cloud computing platform and technologies.

“Through our Cognitive Integrity ManagementTM (“CIM”) clients, prospects, and reseller partners, we’re continually learning about new white space opportunities that can advance industry efficiencies through the application of new technologies and processes,” said Tim Edward, OneBridge President and Visionary. “Most of these parties that are pursuing a digital strategy have already established internal innovation labs to investigate next generation technology initiatives, but have limited experience in leveraging machine learning and data science for their solutions. This is where our expertise comes in. Along with Microsoft, our customers and prospects have expressed interest in leveraging our CIM platform and expertise as part of their strategies. We believe this is highly opportunistic to expand our footprint of mission critical solutions for the industry, as well as to potentially spring-board OneBridge into new markets such as water and sewer.”

OneBridge will be unveiling its Innovation Lab to industry participants at the upcoming Pipeline Pigging and Integrity Management Conference and Exhibition (“PPIM”) conference, the O&G industry’s primary forum devoted exclusively to pigging for maintenance and inspection, as well as integrity evaluation and repair. Established in 1989, PPIM is celebrating its 32nd anniversary in 2020, with a global attendee presence.

“We believe that PPIM provides an ideal opportunity to formally launch our Innovation Lab strategy,” said Brandon Taylor, OneSoft President and COO. “We intend to solicit ideas from multiple industry experts and develop prototype solutions using “Test Fast, Learn Fast, Scale Fast” methodologies which can then be incorporated into the CIM roadmap, with a view to accelerating commercial availability timelines for such new applications.”

OneBridge Innovation Lab operates as a division of the Company’s wholly owned subsidiary, OneBridge Solutions Inc. (“OneBridge”). Parties with interest in learning more or joining the OneBridge Innovation Lab are encouraged to email innovationlab@onebridgesolutions.com.

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] Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline 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.

For more information, please contact

Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
(780) 437‐4950

Sean Peasgood, Investor Relations
Sean@SophicCapital.com
(647) 494-7710

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 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.

SOURCE: OneSoft Solutions Inc.

OneSoft Solutions Inc. Reports Results for the Nine Months ended September 30, 2019

Year to Date Revenue 115% Higher Than Last Year Edmonton,

Edmonton, Alberta, Canada (November 21, 2019) – OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V: OSS, OTCQB: OSSIF), a North American developer of cloud-based business solutions, is pleased to announce its financial results for the three and nine months ended September 30, 2019 (“Q3 2019”). Please refer to the interim unaudited condensed Consolidated Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the three and nine months ended September 30, 2019 filed on SEDAR at www.sedar.com for more information.

Effective in 2018, the Company changed its financial year-end from February 28 to December 31. The information presented in this News Release is for the three and nine months ended September 30, 2019 (the “current period”) and for August 31, 2018 (the “comparative period”).

FINANCIAL SUMMARY FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2019 AND AUGUST 31, 2018.

FINANCIAL HIGHLIGHTS OF Q3 2019

Financial highlights for the third quarter ended September 30, 2019 (“Q3 2019”) include the following:

  • Revenue for the current quarter nearly doubled year over year, from $389,007 for the 3-month period ended August 31, 2018 to $770,099 for the period ended September 30, 2019. The revenue increase is due to increased usage of the Company’s software solutions by more clients in 2019, augmented by an increase in services revenue arising from assistance provided to a major client that commenced implementing CIM in April 2019.
  • Revenue associated with the Company’s Cognitive Integrity ManagementTM (“CIM”) software-as-a-service (“SaaS”) solution in the nine months ended September 30, 2019 was $2.1 million, as compared to $1.3 million revenue generated in the ten months ended December 2018, approximately 80% of which was derived from two clients who collectively analyzed approximately 13,000 miles of pipeline data.
  • Cash at quarter-end this year was $11,293,424, up from $2,015,428 at December 31, 2018, giving the Company ample cash to execute its current business plan.
  • The Company has no debt and $9,052,958 of working capital.

OPERATIONAL HIGHTLIGHTS OF Q3 2019:

Operational highlights for the third quarter ended September 30, 2019 (“Q3 2019”) include the following:

  • The Company’s commercially contracted client list increased during 2019, from two clients as at December 31, 2018 to six clients as at September 30, 2019, and now include one independent pipeline operator, four Fortune 500 companies, and one industry Super-major. These clients collectively operate approximately 51,000 miles of oil and gas pipeline infrastructure for which we anticipate data will be loaded into CIM on a staged timing basis.
  • On July 22 and 23, 2019, the Company and Microsoft held a workshop entitled “Digital Transformation: Making Pipeline Failures a thing of the Past” at the Microsoft Training Center in Houston. The purpose of the event was to educate attendees regarding Microsoft’s cloud computing strategy and to demonstrate OneSoft’s CIM platform. Personnel from three of OneSoft’s clients and OneSoft personnel demonstrated CIM and hosted a workshop that allowed prospective clients to experience CIM as a user. We believe this event allowed us to present CIM in a very compelling manner, particularly because our clients’ personnel who use CIM on a daily basis presented it to their industry peers, from a software user perspective. Several sales leads are now in process of various follow-up actions, and we are optimistic that we will gain new clients as a result of this event.
  • In accordance with prior communiques, the Company progressed a number of initiatives during the quarter to accelerate research and development (“R&D”) efforts, to maintain our first-mover advantage regarding machine learning software for the O&G pipeline industry and to increase our competitive moat. Market research was conducted to assess demand for new CIM companion products and discussions are ongoing with several parties who may potentially collaborate with OneSoft in furtherance of certain future projects. Several new personnel were hired, including Edmonton-based software developers and Houston-based senior sales and other customer-facing personnel who are ideally situated to cater to our USA-based clients and prospects.

SUBSEQUENT TO QUARTER-END

  • OneSoft began the process of validating the assumptions that drive our value calculations with some of our clients, prospects and reseller partners, and certain industry-published metrics. We believe that the current CIM costs are small compared with the overall value realized by clients, and that the Company may be justified in commanding higher pricing for CIM
  • OneSoft announced its first upstream oil and gas pipeline pilot with a Fortune 100 company that also operates midstream and downstream divisions and whose midstream division adopted the use of CIM in early 2019.
  • On October 2-4, 2019, the Company exhibited at the Pipeline Technology Forum in Houston, Texas. Attendance at this event generated interest from several pipeline companies, which we believe will result in future business for the Company.
  • The Company also presented at the Microcap Rodeo Investor Conference in Austin, Texas on October 15-16, 2019, which provided a venue to meet new investor groups who typically engage with oil and gas (“O&G”) companies. Follow-up with several parties from this event are ongoing. An interview conducted during the seminar can be viewed here.

BUSINESS OUTLOOK

OneSoft continues to make good progress, in accordance with Management’s objectives and expectations. Since completing the April 2019 financing, additional personnel have been hired to accelerate sales and marketing activities, and R&D initiatives. We believe that our decision to raise additional capital to fund Company growth and accelerate advancement of our intellectual property (“IP”) will ultimately benefit all of our stakeholders, by expanding our first mover technological advantage and competitive moat and increasing our future market and revenue opportunities.

Commercializing CIM and Increasing Scalability to Onboard New Clients
The Company’s main operational objective in 2019 has involved advancement of CIM’s commercialization by onboarding four new CIM clients contracted in 2019. We believe growth is dependent upon determination and development of methodologies to scale additions of new clients in the future. As with deployment of any new technology, we encountered challenges. The three key issues we faced related to (a) historic data, much of which has required a significant amount of effort from both clients’ and OneBridge personnel to cleanse and re-format for ingestion into CIM; (b) numerous procedural and change management issues encountered in transitioning legacy integrity management processes (“IMP”) to fully digital systems and processes; and (c) determining how to incorporate and adapt the unique IMP used by individual clients into a horizontal single SaaS solution that addresses all clients’ functionality and process requirements. Resolution of these challenges required changes being made to the CIM solution and the development of numerous tools and processes to automate the onboarding of new clients. Our largest client (as measured by miles of pipeline operated) has required approximately seven months to reach the stage of initial implementation sign-off, prior to their commencement of user acceptance testing which is expected to require a further half year.

While the onboarding of new technology and adoption of new IMP processes has presented challenges for both our clients and Company personnel, this has provided an opportunity for OneSoft to develop and implement strategies to automate the implementation of CIM for future clients. Although the Company was only partially compensated for data cleansing and other service work associated with implementing CIM for these initial commercial clients, we anticipate that tools and efficiencies that were developed may help to increase services margins with future new clients, as a result of better automation of the onboarding process. We believe this experience represents an important step to increase our scalability to add new clients and reseller partners, and currently estimate that our consulting time and efforts might reduce significantly for future clients of similar size and scope to clients we added in 2019 that are members of Fortune 100 and 500 lists.
Three key factors that determine our revenue growth include the pace at which clients load data onto our CIM platform; the scheduling of pipeline inspections which drive variable elements of revenue; and the pace of adoption of our solutions by new clients. We believe that sales and revenue may be positively influenced by two recent positive developments – the October 1, 2019 announcement of new regulatory operational requirements by PHMSA; and OneSoft’s inclusion of sales metrics based on CIM cost/value that can be targeted at clients’ senior management teams (rather than targeting only the integrity management team), as discussed below.

  1. New Regulatory Operational Requirements Are Expected To Be Beneficial

    The Pipeline and Hazardous Materials Safety Administration (“PHMSA”), the USA pipeline industry regulator, has published a new compliance rule (2019-20458) which is currently scheduled to take effect on July 1, 2020. This rule essentially mandates two new key requirements for O&G pipeline operators that we believe will be beneficial to the Company’s future opportunities. Firstly, O&G pipeline operators will need to collect, interpret and manage more data, which we believe our solutions are well-poised to address for clients. Secondly, certain gathering pipeline infrastructure that was previously exempt from certain operating requirements will be required to operate under certain new PHMSA regulations when the rule takes effect, similar to what our current (mid-stream) clients are addressing with CIM. We believe these new compliance requirements will effectively increase our total addressable market (“TAM”) within the USA, because more pipeline will need to be operated in compliance with PHMSA mandates.

    We believe that both of these factors are beneficial to OneSoft because our CIM platform essentially addresses these requirements today with our “first mover” technology and functionality advantages, unlike legacy solutions that serve the industry today.

  2. Modeling CIM Cost/Value Metrics May Support Future Pricing Increases

    As a result of sales research that OneSoft has been conducting during the past year, we are now developing metrics that we believe will be able to more precisely quantify the value that our clients can expect to achieve once they adopt CIM. Post quarter end, we began the process of validating the assumptions that drive the value calculations with some of our clients, prospects and reseller partners, and certain industry-published metrics. These calculations incorporate not only what is applicable to integrity management functions, but also consider several other factors that affect our clients holistically throughout their organization. These factors include number of pipeline excavations (“digs”) conducted annually, the number of digs where refurbishment or repair of the pipeline was positively found to be necessary (versus digs that were determined to not be actually required following excavation and inspection), resulting calculation of “dig/repair ratios”; costs per dig, for engineering, maintenance and repairs; barrels per day of product throughput lost due to shutdown of the pipeline during dig/repair events; revenue per barrel metrics for the pipeline, and certain other factors that contribute to the overall efficiencies of the IMP processes.

    These metrics are collectively necessary to determine the benefits of using the CIM platform from a corporate overall cost/benefit perspective. Such analysis is not offered by legacy software solutions because of siloed data management practices typically used by pipeline operators today. For example, integrity management department personnel have little insight regarding associated workload costs incurred by other departments of their company, or revenue loss metrics that might occur as a result of pipelines being shuttered for repairs and maintenance. Our vision is to evolve our CIM platform with capability to ultimately aggregate, analyze and provide such business logistics, including certain quantifiable financial benefits. Based on preliminary estimated metrics from a sample of our CIM clients (which are anecdotal only at this point and not yet validated), and providing our assumptions are valid, we believe that we will be able to demonstrate significant cost savings for pipeline operators who adopt CIM in place of legacy solutions and practices.

    We believe that the current CIM costs are small compared with the overall value realized by clients, and that the Company will be justified in commanding higher pricing for CIM (i.e., bolster revenue potential) in the future than is currently being charged to clients, once we are in the position of being able to disclose validated cost/value metrics. We believe this may have the desired effect of accelerating buying decisions and may potentially result in longer term SaaS contracts once buying decisions are made. We expect to validate and finalize the CIM cost/value metrics by the end of Q1, 2020.

Advancement of CIM Platform and IP
OneSoft has developed and commercialized the first machine learning solution (to our knowledge) for the O&G pipeline industry, which has now been validated by several US-based industry leaders. Some of our Fortune 100 and 500 clients have by now had opportunity to experience the advantages of machine learning, data science and cloud computing technologies that legacy systems and processes cannot replicate. We are now collaborating with these clients and certain industry partners to enhance our CIM platform by adding functionality that we believe might augment our future revenue opportunities. Our business strategy mandates that, regardless of the contributions or funding for projects that may be provided or paid by third parties, OneSoft intends to own all the IP that arises from such collaborations. Our objective is to continue to develop horizontal SaaS functionality, i.e., that which is typically required by most pipeline operators regardless of where they operate globally.

We intend to capitalize upon our data-as-a-service (“DaaS”) approach, wherein we expect to monetize learnings from pipeline associated data derived by our proprietary algorithms. To date we have analyzed tens of thousands of miles of pipeline data, involving learnings from more than 40 million data points. We believe this represents the most extensive aggregation of data and learnings collected by anyone in the O&G pipeline industry to date. We further believe that our CIM platform and capability to accelerate further data aggregation is well ahead of potential competitors, thereby serving to increase our competitive moat.

Our vision is to become the “ERP system” for O&G pipeline companies which involves integrating our initial CIM integrity management solution with complementary functionality modules, including enhanced risk management, Xbox style 3-D graphics and certain financial applications that collectively will improve decision making by incorporating large and varied data sets that have historically not been able to be used, but which the CIM platform can accommodate.

R&D efforts conducted in Fiscal 2019 have mostly been dedicated to advancing commercialization and scalability of CIM. We anticipate that new R&D development sprints will commence in Q4 of 2019 or Q1 of 2020, and recognition of revenue associated with future development sprints will not likely occur before the latter part of Fiscal 2020.

We believe that in 2019 and 2020, CIM SaaS recurring revenue, based on current functionality and pricing, will more than double over the respective prior year. This is based on the increasing loading of data and CIM usage by our current clients, and our expectation that we will gain new clients that are currently engaged in our sales processes.

Given that the Company accelerated investment in new product development and sales efforts in 2019, we expect to incur operational losses in 2019 and perhaps 2020; however, the Company is well-funded (through fiscal 2022, based on current operating metrics and revenue assumptions) to pursue accelerated development, marketing and sales initiatives. We believe the Company’s strategies, business, technology and operational plans will ultimately result in increasing shareholder value through achievement of two key objectives – advancing our technological lead and competitive moat, and increasing market potential and revenues.


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
647-494-7710


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 deliver 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; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally, which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; 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 because 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.


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

OneSoft Solutions Inc. Pilots First Upstream O&G Client

EDMONTON, AB / November 7, 2019 / OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSXV:OSS)(OTCQB:OSSIF) is pleased to announce that its wholly owned subsidiary, OneBridge Solutions Inc. (“OneBridge”) has received its initial order for use of the Company’s Cognitive Integrity ManagementTM (“CIM”) software-as-a-service (“SaaS”) solution from an upstream oil and gas (“O&G”) client. This latest sale was made to a Fortune 100 company whose midstream division adopted the use of CIM in early 2019, and also operates upstream and downstream divisions.

To date, all CIM pilots and licenses have been granted to midstream operators, or to midstream operations of integrated O&G enterprises. This transaction represents the first opportunity for the Company to pilot the concept of adapting CIM for use in the upstream O&G market segment.

“This sale pioneers the opportunity to sell CIM into markets beyond the midstream segment, as was originally envisioned when we first developed the software,” said Tim Edward, President of OneBridge. Brandon Taylor, OneSoft President and COO, added, “This justifies the decisions we made earlier this year to raise additional capital to accelerate R&D efforts, to evolve CIM from a solution to a platform, and to advance our economic consumption SaaS business model. As we add more functionality to address more customer requirements for different segments of the O&G market, we expect future revenue potential to increase accordingly. We are especially pleased that one of our current clients has made the decision to expand the use of CIM into other segments of its business operations.”

Upstream, Midstream and Downstream Oil & Gas Market Segments

The petroleum industry is divided into three major segments: (1) upstream, the exploration and production sector; (2) midstream, wherein crude oil, natural gas and natural gas liquids are processed, stored, marketed and transported; and (3) downstream, which includes refineries, petrochemical plants, distribution, retail outlets and natural gas distribution companies. Historically, all of the Company’s business associated with CIM has been derived from the midstream segment.

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] Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline 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.

For more information, please contact

Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
(780) 437‐4950

Sean Peasgood, Investor Relations
Sean@SophicCapital.com
(647) 494-7710

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 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.

Fastest Growing Company 2019

OneSoft Solutions Inc. Places No. 58 on the Globe and Mail’s 2019 Ranking of Canada’s Fastest-Growing Companies

Three-Year Revenue Growth of 955

EDMONTON, AB / September 30, 2019 / OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSXV:OSS)(OTCQB:OSSIF) is pleased to announce it placed number 58 on the inaugural Globe and Mail’s Report on Business ranking of Canada’s Top Growing Companies, with three-year revenue growth of 955%.

Launched in 2019, the Canada’s Top Growing Companies ranking program aims to celebrate entrepreneurial achievement by identifying and amplifying the success of growth-minded, independent businesses in Canada. It is a voluntary program; companies had to complete an in-depth application process in order to qualify. In total, 400 companies made the ranking this year, collectively achieving average three-year revenue growth of 511%.

The full list of 2019 winners, and accompanying editorial coverage, is published in the October issue of Report on Business magazine-out now-and online at www.tgam.ca/TopGrowing.

“We created the Canada’s Top Growing Companies program because we believe there is much Report on Business readers can learn from the successes of the country’s best entrepreneurs,” says Derek DeCloet, Editor of Report on Business and Executive Editor at The Globe and Mail. “We’re excited to be telling their stories.”

“The 400 companies on the inaugural Report on Business ranking of Canada’s Top Growing Companies ranking demonstrate ambition, innovation and tremendous business acumen,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “Their contributions to the economy help to make Canada a better place, and warrant commendation.”

“We are pleased that OneSoft has again been recognized as a business leader in Canada,” says CEO Dwayne Kushniruk. “This achievement reflects the strong dedication of our team and the advancements we’ve made to assist oil and gas pipeline operators achieve their objective of zero pipeline failures, using our revolutionary machine learning technology that operates on cloud computing.”

About The Globe and Mail

The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With our award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.6 million readers every week in our print or digital formats, and Report on Business magazine reaches 1.8 million readers in print and digital every issue. Our investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family

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 [NASDAQ:MSFT] Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., develops and markets revolutionary new SaaS solutions that use Data Science and Machine Learning to apply predictive analytics to big data, which assist Oil & Gas pipeline 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.

For more information, please contact

Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
(780) 437‐4950
Sean Peasgood, Investor Relations
Sean@SophicCapital.com
(647) 494-7710

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 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.