Sales Momentum is Accelerating Following the Completion of CIM 3.0

EDMONTON, AB / January 24, 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 November 30, 2018. Unless otherwise stated, all dollar amounts are Canadian dollars. Please refer to the interim unaudited Consolidated Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the three and nine months ended November 30, 2018 filed on SEDAR at for more information.


The following chart summarizes the third quarter ended November 30, 2018, compared to November 30, 2017:

  • Revenue for the quarter increased 95.4% year-over-year, from $260,343 to $508,732, primarily due to a near doubling of the Company’s revenues from Cognitive Integrity ManagementTM (“CIM”) solution.

  • Gross profit for the quarter increased 82.5% year-over-year, from $215,944 to $394,153. Gross margin remained strong at 77% this quarter as the Company continues to benefit from high software margins. 

  • Expenses for the quarter increased 30.7% year-over-year, due to additional staff hires, general and administrative expense, and increases in internal use Azure costs and sales and marketing expenses. Azure usage was cost-free in the comparative quarter last year, as the Company was still exhausting its USD $0.5 million Azure credit granted by Microsoft pursuant to the Company’s participation in Microsoft’s Accelerator program. 

  • The comprehensive loss for the quarter was $738,084 as compared to $629,229 in Q3 last year. 

  • Ended the quarter with $2.2 million of cash, no debt, and no outstanding warrants.

“Third quarter revenues nearly doubled year-over-year and we believe the Company is well-positioned to accelerate growth,” said Dwayne Kushniruk, OneSoft’s CEO. “We made important advancements during the quarter by engaging four prospective clients to participate in Cognitive Integrity ManagementTM (“CIM”) software trials and signing our first commercial client for CIM 3.0. Our product development work during the quarter resulted in completion of our more feature-rich CIM 3.0 solution, which in turn has led to the engagement of additional commercial clients. We expect cash to increase by approximately $1.5 million within the next month as a result of these and other developments.” 

On October 30, 2018, OneBridge won the prestigious 2018 ASTech Foundation award which included a $10,000 prize, for Outstanding Achievement in Energy and Environmental Innovation.


  • Focused on the Phillips 66 PT-DMS software development project, which we completed in December 2018.

  • Advanced CIM 3.0 marketing and sales efforts, both directly with prospective clients and collaboratively with our sales partners, Microsoft and WorleyParsons. 

  • On September 24, 2018, the Company engaged its first multi-year client for CIM 3.0 and subsequently released CIM 3.0 for general commercial availability on October 18, 2018.

  • As announced on September 17, 2018, the Company engaged four potential clients in software trial programs, who collectively operate 68,000 miles of oil and gas pipeline infrastructure in North America. 

  • Engaged a consulting firm to help the Company improve its sales processes, including comparing the value proposition of CIM solutions with systems currently used by prospective clients to maintain their pipeline assets. The objectives are to quantify and articulate the value that CIM, digital transformation, and cloud computing can provide to such clients, and to identify avoidable costs that use of CIM might prevent. This project may result in revised pricing for the Company’s solutions in the future.



The Company’s past research and development (“R&D”) activities and focus on early innovator and adopter clients is evolving to position the Company for growth. While revenue was minimal during the Company’s R&D phase, we anticipate that revenue growth will begin to accelerate as more clients adopt our solutions.

With four clients (including several Fortune 500 companies and one Super-major) now contracted to use our technology, we believe OneBridge solutions has achieved a milestone that will assist in the pursuit of greater wins with large companies. We are optimistic for near-term progress in this regard for several reasons:

  • As the experiences of our innovator and early adopter clients becomes known within the industry, and particularly considering those who are highly regarded as leaders in innovation by industry peers, reluctance to embrace our new technology solutions is anticipated to diminish. Whereas relatively few companies wish to incur risks associated with being first, the majority of companies tend to adopt once the value of new technology is proven by industry leaders.
  • A number of our prospective customers have been engaged in sales processes for many months and are approaching decision points. These interactions have provided valuable insight into a wide range of client operational strategies, as well as access to a vast amount of data, which has allowed us to refine our machine learning algorithms and thereby deliver continually enhanced functionality based on shared learning for clients. Analyses of data from multiple operators that represent a wide range of operational logistics is highly advantageous over single operator or single inspection tool datasets. Access to this data also gives us a competitive advantage over future potential competitive machine learning solutions. Our algorithms allow operators to retain their data confidentiality, while still benefiting from the shared learning that is gleaned across all operators’ data. We believe that this is a primary consideration that may eventually motivate even the pipeline operators who currently depend on in-house software systems to adopt CIM, as their analyses will only ever contemplate their own data, without access to benefits of shared learning.
  • We believe that being first to market with validation by industry leaders, collaboration with key technology and sales partners with global reach, and a strategy to continue to deliver cutting-edge technology solutions, collectively provide a significant competitive advantage that the Company will be able to leverage for the foreseeable future.

As announced in October 2018, Management has changed the Company’s year end from February 28 to December 31, to synchronize with common fiscal reporting periods for technology and oil and gas companies as well as to align our sales activities with customers’ budget cycles and better facilitate analysis of our Company amongst industry peers. For the 10-month fiscal year ending December 31, 2018, revenue is expected to quadruple over the prior fiscal year (comprising 12 months of operations), to exceed $4 million. This revenue bump results from the recognition of $2 million of deferred revenue previously recorded, additional revenue associated with the Polaris development project, and other sales. While the revenue bump is not all SaaS recurring revenue, it is conceivable that the Company may undertake similar development projects in the future which may produce similar revenue events.

As a result of these and other recent operational events, the Company expects cash to increase by $1.5 million, to approximately $3.3 million by the end of February 2019. Management’s objective is to achieve cash positive operations during calendar 2019 through on-boarding of new clients, and we anticipate the Company will not require further financings to fund the business plan as currently envisioned.

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:NASDAQ) 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 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 for more information.


Douglas Thomson

For more information, please contact

Dwayne Kushniruk, CEO

Sean Peasgood, Investor Relations 

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.

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