Fobi AI Inc - FOBIF stock
About Fobi AI[edit]
Fobi.AI (OTC: FOBIF, TSX.V FOBI) began operations in its current iteration in June of 2019 and is based out of Vancouver, British Columbia, Canada. The company was formerly known as Loop Insights Inc., before changing its name to Fobi in 2018. At its core, Fobi provides data analytics solutions to enterprise customers through its cloud-based APIs that can be integrated directly into existing sites and platforms. Fobi is aiming to be a leader in the field of digital transformation by providing its customers the ability to analyze data in real-time to improve operational efficiencies and increase customer engagement through technology. Fobi trades on both the Canadian Venture Exchange as well as the US OTC markets.[1]
Products[edit]
Fobi offers several software solutions for which it charges an implementation fee in addition to recurring subscription revenues. It's PassPro and PassCreator software allows companies to provide its customers with membership services that directly integrate into digital and mobile wallets. Qples is a mobile-based coupon service where companies can directly deliver new and exclusive offers directly to their clients.[2]
During the COVID-19 pandemic, Fobi was active in establishing new technology that will help shape the future of event management. CheckPoint is a new software that digitizes registration, ticketing, and entries for attendees directly through their smartphones. AltID is a mobile wallet integration that holds verifiable credentials for identity management. Fobi also partnered with Draganfly Innovations to provide a technology that integrates rapid vital sign testing and results for your event management services.[2] Fobi’s products and services are used in a number of different industries including casino and gaming, sports and entertainment, hospitality, and retail.
PulseIR[edit]
In April of 2022, Fobi announced the launch of a wholly owned subsidiary called PulseIR which will work to digitize investor relations for the capital markets. PulseIR will leverage Fobi’s Investor Pass software while also utilizing its artificial intelligence and mobile wallet technologies.[3]
Partnerships[edit]
Fobi.AI has partnered with some of the largest names in the retail and eCommerce industries including Shopify (NYSE:SHOP), Lightspeed (NYSE:LSPD), Oracle (NYSE:ORCL), and Block. It also works directly with global brands like MGM Resorts International and the NCAA governing body.[2]
Fobi was one of four Canadian companies selected to participate in the Comcast NBCUniversal’s 2024 SportsTech Accelerator program. The accelerator program entails customized programming for startups to enhance their go-to-market and business strategies, particularly emphasizing scalability for enterprise readiness. Additionally, participating companies gain access to mentors affiliated with renowned sports brands such as the Premier League, PGA TOUR, NASCAR, and NBC Sports.[4]
Funding[edit]
A private placement announced in February, 2022 was expected to generate funding of C$2,000,000 by issuing approximately 28.5 million units at of price of C$0.07 per unit. Each unit will include one share and one warrant with an exercise price of C$0.14.[5] The placement was completed and increased to at total of 34,905,498 units with funding of $2,443,384.94.[6]
- ↑ Yahoo Finance. FOBI Stock Profile. Retrieved on 3/22/2024.
- ↑ 2.0 2.1 2.2 Fobi AI Investor Deck. Retrieved on 3/22/2024.
- ↑ Globe Newswire. Fobi Incorporates And Launches New Wholly Owned Subsidiary PulseIR. April 29, 2022.
- ↑ betakit. Canada lead the pack with the highest number of companies in the global cohort. February 26, 2024. ?Archive link.
- ↑ Globe Newswire. ***February 28, 2024 - Redistribution of prior news release dated February 2, 2024 for wide dissemination*** Fobi AI Announces Private Placement of Units for Aggregate Gross Proceeds of Up To C$2,000,000. February 28, 2024.
- ↑ Yahoo Finance. Fobi AI Announces Completion of Fully Subscribed Upsized Non-Brokered LIFE Offering and & New Non-Brokered Placement. February 28, 2024.
OTC Symbol: FOBIF | OTC Tier: OTCQB
