The Event Technology Awards are celebrating their tenth anniversary, recognizing the achievements of companies providing digital and technology solutions to the events industry.
VANCOUVER, British Columbia, Nov. 18, 2022 (Global Newswire) — phobia artificial intelligence company (FOBI: TSXV FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in delivering real-time data analytics through artificial intelligence to improve operational efficiency and profitability, is pleased to announce that their digital ticketing solution, CheckPoint, has won the 2022 Best Ticketing Technology Award at the Event Technology Awards of the Year. Now in its tenth edition, the Event Technology Awards recognize the achievements of companies providing digital and technology solutions to the events industry. They are very coveted and prestigious awards that have been won by some of the largest event technology companies in the world, so winning one is a major achievement for Fobi.
Integrity of the Event Technology Awards Recognition checking point, FOBI wallet pass based ticketing solution
Fobi’s CheckPoint digital ticketing solution is part of a complete event and venue management platform that delivers a superior customer experience for attendees and a superior management platform for event and venue managers.Chosen by Oscars and more for digital ticketing in ’94day Oscars, and visitor management and ticketing solutions at Nasdaq, Fobi has some very high profile clients who also recognize the integrity of Fobi’s solutions. In particular, the built-in ID verification that CheckPoint offers through AltID has been mentioned by many Fobi customers as a key feature that other digital ticketing and venue management solutions lack. Fobi believes that the importance of identity verification will grow significantly in the future and will become a must-have for any digital ticketing solution.
“This award is another great recognition and honor as we were recently named a constituent of the TSX Venture S&P 500 Composite Index. Third-party verification is always key, and this is yet another important validation of the value of our innovative solutions,” He says Rob Anson, phobia CEO.
The Company proposes that all 4,083,797 outstanding warrants to purchase common stock of the Company (the “Warrants”) concomitant with the 2019 Placing, following the non-brokered private placement placement that closed in November 2019 (the “2019 be exercised before the maturity date. Each warrant entitles its holder to acquire one common share of the Company (“Share”) at $0.35 each within thirty-six months of the date of issue. Most recently, between September 2022 and the expiration date, the last remaining 1,257,600 warrants were exercised for a total proceeds of $440,160 to the company.
Rob Anson, Chief Executive Officer and Director of Fobi, said: “The 100% conversion rate of the warrants not only strengthens our cash position, but it is a further solid vote of confidence for our long-term investors in these challenging markets .”
The Company also announced that it has entered into a stock-for-debt arrangement with a number of independent service providers, pursuant to which the Company has discharged $247,220 of its outstanding debt in exchange for the issuance of 555,551 shares of the Company’s common stock (“Shares”) at $0.445 each price (“debt discharge”). Liquidation of debt is subject to approval by the TSX Venture Exchange. There are no finder fees or commissions associated with debt settlement. [The Company is settling the indebtedness through the issuance of Shares to preserve cash and improve the Company’s balance sheet.]
To learn more about Fobi’s CheckPoint digital ticketing solution, click here.
To read the Oscars digital ticketing success story, click here.
This press release is available at phobia website.
To download the Fobi Investor Experience Wallet Pass for better access to investor information on Fobi, please visit download page.
about phobia
Fobi is a cutting-edge data intelligence company, helping our clients turn real-time data into actionable insights and personalized customer engagement to increase profits. Fobi’s unique IoT devices are able to seamlessly integrate into existing infrastructure to enable data connectivity across online and on-premises platforms, creating highly scalable solutions for our global clients. Fobi works with some of the largest companies in the world, delivering best-in-class solutions and operating globally in the retail, telecommunications, sports and entertainment, casino gaming, and hospitality and tourism industries.
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For more information, please contact:
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Foby AI Inc. |
Forby website: Forbes |
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Rob Anson, CEO |
Facebook: @ Fabin |
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Phone: +1 877-754-5336 ext. 3 |
Twitter: @ forby corp. |
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E-mail: ir@fobi.ai |
LinkedIn: @ Fabin |
Forward-Looking Statements/Information:
This press release contains certain statements that constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company’s control, including the effects of general economic conditions, industry conditions and competition from other industry participants, stock market volatility and the ability to obtain sufficient capital from internal and external sources. Although the company believes that the expectations contained in its forward-looking statements are reasonable, they are based on factors and assumptions about future events that may prove to be inaccurate. These factors and assumptions are based on currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may affect actual results or events and cause actual results or events to differ from those expressed, anticipated or implied in the forward-looking statements or events are materially different.Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance future plans, action, result, activity level or achievement.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 publicly update or revise any forward-looking statement, except as required by applicable law, regardless of as a result of new information, future events or otherwise. Forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the Company’s securities should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
