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Memex Inc. Releases Q1 – 2016 Results with Fourth Consecutive Quarter of Revenue Growth

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Burlington, ON, Canada – February 22, 2016 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial results and operational highlights for its first quarter of fiscal 2016 which ended December 31, 2015. All results are reported in Canadian dollars.

Financial Highlights for the First Quarter Ended December 31, 2015:

  • Memex generated record quarterly revenue of $614 thousand, $113 thousand higher than the same period in the prior year, and 7% higher than the fourth quarter of 2015. The Company also marked its fourth consecutive quarter of revenue growth.
  • Memex produced gross margin of $375 thousand, 27% higher than the same quarter in the prior year.
  • Unearned revenue of $482 thousand closed the quarter down $100 thousand from the Company’s record high of $582 thousand at the end of Q4-2015.
  • Memex’s sales force turned in $876 thousand in product bookings[i] for the quarter, 58% or $320 thousand more than Q4-2015.
  • The Company showed a $641 thousand net and comprehensive loss for the quarter equating to a $0.007 loss per share. This compares with a $461 thousand net and comprehensive loss in the same quarter last year, and a similar $0.007 loss per share.

Q1 Fiscal 2016 and Subsequent Operational Highlights:

  • Memex bolstered its sales and marketing infrastructure with the addition of a VP Marketing and three new US-based sales representatives. In January 2016 the Company also added a Director of Manufacturing Excellence to accelerate MERLIN adoption by larger high-potential existing customers.
  • On October 27-29 and November 3-5 at DISCOVER 2015 (Mazak Corporation’s Technology and Education event), MERLIN software along with hardware from information technology (IT) leader Cisco Systems, Inc. was showcased in an industry-first collaborative platform called SmartBox. The launch took place in front of metalworking managers and C-level executives. The co-promotion with Mazak and Cisco led to multiple media stories, blogs, and videos mainly in manufacturing trade press.
  • In December Memex received significant new orders from Aero Pacific Corporation in Placentia, CA. (30 MERLIN licenses and 28 MTConnect hardware adapters), and Homeyer Precision Manufacturing Co. in Marthasville, MO (23 licenses and 9 hardware adapters).
  • On January 18th, Memex was profiled in the National Post’s Entrepreneur section with the headline “Memex wins over industry giants.” The article explained how eight focused years of work on strategic partnerships resulted in successes with multinational giants Cisco and Mazak.
  • In February Memex received a substantial follow-on order from Kuss Filtration Inc. for 43 MERLIN licences as part of a multi-plant roll-out in the US, China, and Brazil. 

Management Commentary:

Memex’s President & CEO David McPhail stated, “The Industrial Internet of Things, or IIoT, represents the next industrial revolution, and Memex’s flagship software product MERLIN is planted squarely in the middle of this manufacturing mega-trend. Our latest quarterly results, representing our fourth consecutive quarter of growth strongly indicate that manufacturers around the world see the value of our unique combination of industrial connectivity and analytics to drive productivity and profit. I want to thank our customers for their trust and our employees for their hard work to achieve these results.”

About Memex Inc.

Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that delivers real-time manufacturing productivity analytics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

Ed Crymble, Chief Financial Officer

905-635-1540 ext. 110

ed.crymble@MemexOEE.com

Sean Peasgood, Investor Relations

416-565-2801

sean@sophiccapital.com

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.

[i] This non-IFRS financial measure is identified, defined and reconciled to the closest IFRS measure, revenue, within our Management’s Discussion and Analysis for the three month periods ended December 31, 2015 and 2014, in the section “Other Financial Measures.” That MD&A is available at www.sedar.com under our company profile.

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Kuss Filtration Purchases MERLIN IIoT Manufacturing Software for Factories in USA, China and Brazil

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Findlay, OH, USA – February 10, 2016 – MEMEX Inc. (TSX-V: OEE) is proud to announce that Kuss Filtration Inc., a global filtration product OEM, has purchased MERLIN Enterprise Edition for a multi-plant roll-out of Industrial Internet of Things (IIoT) software for manufacturing facilities in the USA, China, and Brazil. This sale includes 43 licenses of MERLIN and is a follow-on to a 10-license sale in June of 2015.

“Kuss is committed to quality through our operating management system and use of Six Sigma and Lean Manufacturing techniques, which has earned us the ISO/TS 16949 certification in addition to many awards and recognitions for design, innovation and product excellence,” said Kuss Filtration’s President and CEO Hasnain Merchant. “MEMEX’s MERLIN has proven itself, and now we intend to enhance our manufacturing excellence and profitability with MERLIN in three of our factories.”

“Kuss Filtration is a great example of a world-class company embracing the power of our MERLIN communications platform,” said MEMEX CEO David McPhail. “MERLIN proves that the Industrial Internet of Things isn’t a theory. IIoT is an implement-now competitive advantage for the smartest factories on the planet.”

MERLIN is an IIoT shop-floor-to-top-floor communications platform that connects industrial machines and provides manufacturing analytics in real time. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE). It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols, or MERLIN hardware adapters for older machines.

About Kuss Filtration Inc.

Kuss Filtration manufactures exceptional filtration products with unparalleled quality and innovation. The company has over 60 years of experience providing air and liquid filtration solutions to a diverse global market. Today Kuss Filtration is comprised of six locations in the U.S. Brazil, Europe and China strategically placed to service its growing global customer base.

About MEMEX Inc.

MEMEX is a leading Industrial Internet of Things (IIoT) technology platform provider that delivers manufacturing productivity analytics. MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE). It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines. For more information, please visit: www.MemexOEE.com.

Media Contacts

Kuss Filtration Inc.

Hasnain Merchant, President & CEO

Phone: +1 (419) 425-7233

Email: Hasnain.Merchant@KussFiltration.com

MEMEX Inc.
David McPhail, CEO

Phone: +1 (519) 993-1114

Email: david.mcphail@MemexOEE.com

Nathan Rudyk VP Marketing

Phone: +1 (905) 635-1540 ext. 216

Email: nathan.rudyk@MemexOEE.com

Sophic Capital Inc.                                                                                                          

Sean Peasgood, Investor Relations

Phone: +1 (416) 565-2805

Email: sean@sophiccapital.com

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.

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American Manufacturing Leader Herb Homeyer Introduces IIoT Software to his factory with MERLIN Enterprise Edition

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FOR IMMEDIATE RELEASE

Marthasville, MO, USA – January 12, 2016 – MEMEX Inc. (TSX-V: OEE) is proud to announce that Homeyer Precision Manufacturing Co. has purchased MERLIN Enterprise Edition for a plant roll-out of Industrial Internet of Things (IIoT) software in Marthasville, MO. The sale includes 23 licenses of MERLIN for Overall Equipment Effectiveness (OEE) and Direct Numerical Control (DNC), plus 9 MERLIN MTConnect hardware adapters for legacy CNC manufacturing machines.

Homeyer Precision Manufacturing is led by its President Herb Homeyer, who is also Chairman of the Board of The National Tooling and Machining Association (NTMA). A passionate business leader, he founded his company in 1990 with a belief in the power of American manufacturing — and a commitment to bring a new level of service to his industry.

“The Industrial Internet of Things, or IIoT, is a powerful trend, and MERLIN makes IIoT real by equipping industrial machines with the necessary interfaces for connecting, collecting, and analyzing manufacturing data in real-time,” said Homeyer. “Our manufacturing team did their homework before choosing MERLIN. One of the things that most impressed us is how no machine is left behind regardless of make or vintage, and MERLIN’s ability to implement quickly on our factory floor without costly integration services or associated time-lags. With this real-time visibility, we look forward to a significant boost in Overall Equipment Effectiveness, or OEE.”

“We are honored to be implementing MEMEX’s IIoT technology in the factory of a visionary manufacturing leader like Herb Homeyer,” said MEMEX CEO David McPhail. “With a correct focus on achieving business value versus simply counting connected devices, IIoT represents no less than the next industrial revolution. The previous three industrial revolutions were mechanization powered by steam engines in the 1800s, mass production powered by electricity and the assembly line in the early 1900s, and automation powered by computers in the late 1900s. Ushering in the fourth industrial revolution, IIoT is powered by the Internet and software applications like MERLIN.”

MEMEX’s flagship software product, MERLIN, is an IIoT shop-floor-to-top-floor communications platform that provides manufacturing analytics in real time. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE). It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols, or MERLIN hardware adapters for older machines.

About Homeyer Precision Manufacturing Co.

Homeyer Precision Manufacturing serves many different industries from aerospace and defense to oil and gas and energy production. At a time when many high-tech jobs are moving overseas, the company continues to grow in the USA — delivering precision parts for some of the world’s most demanding advanced manufacturing companies for 25 years. Homeyer has achieved this thanks to its ongoing investments in leading edge manufacturing equipment and technology, and its commitment to bringing on the most talented, dedicated, and highly skilled employees for every job.

About MEMEX Inc.

MEMEX is a leading Industrial Internet of Things (IIoT) technology platform provider that delivers manufacturing productivity analytics. MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE). It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect other protocols or MERLIN hardware adapters for older machines. For more information, please visit: www.MemexOEE.com.

Media Contacts

Homeyer Precision Manufacturing Co.

Gretchen Homeyer, Director of Employee, Customer, & Community Relations

Phone: +1 636-433-2244
Email: ghomeyer@homeyertool.com

MEMEX Inc. 
David McPhail, CEO
Phone: 519-993-1114
Email: david.mcphail@MemexOEE.com

Nathan Rudyk VP Marketing
Phone: 905-635-1540 ext. 216
Email: nathan.rudyk@MemexOEE.com

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.

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MEMEX Inc. Accessibility Policy

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Commitment to accessibility

Memex is committed to accommodating persons with disabilities. We do our best to make sure that our policies, practices, and procedures promote dignity, inclusion, equality and opportunity for persons with disabilities.

Staff training

We ensure that our employees are trained to consider persons with disabilities. Our training includes how to accommodate visitors with disabilities to our offices and how to help people use our goods, publications, and services.

Communications and information

We will do our best to communicate with you in a way that meets your needs. We will use plain language in our documents and publications where we can. We will respond to your questions, comments, and requests in a timely way.

We will make our best efforts to provide our information and publications in accessible formats upon request. Contact accessibility@memexOEE.com or call 905-635-1540.

Assistive devices or Support Persons

You may bring a support person or assistance device if necessary. Please contact the AODA Administrator so that we can accommodate you accordingly.

Service animals

You may bring a service animal to our offices.

Requesting an accommodation

To ask for an accommodation or help using or accessing any publication, good, or service, you can contact us via e-mail at accessibility@memexOEE.com or call 905-635-1540, and we will arrange appropriate assistance. Please give us as much notice as you can.

Feedback

To comment on how we provide access to our offices, goods, publications, and services, contact:

Linda Keown – AODA Administrator

105-3425 Harvester Rd.

Burlington ON, L7N 3N1

Tel: 905-635-1540 email: accessibility@memexOEE.com

 

We reply to all requests, comments, and complaints. If we can’t respond immediately, we will provide you information on when you may expect a reply.

 

 

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MEMEX Inc. Releases Fiscal 2015 Year End Results with Record Annual Revenue 115% Higher Than the Previous Year

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Burlington, ON, Canada – December 17, 2015 – Memex Inc. (“Memex” or “the Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial results and operational highlights for its year ended September 30, 2015.

Financial Highlights for the Year Ended September 30, 2015:

Memex generated record revenue of $2.1 million, $1.1 million or 115% higher than the prior year.

Memex achieved record gross margin of $1.3 million, 200% higher than the prior year.

Unearned revenue of $582 thousand closed the year at a record high, $129 thousand or 28.5% higher than the previous high at September 30th 2014.

The Company showed a $2.4 million net and comprehensive loss for the year equating to a $0.030 loss per share.  This compares with a $2.1 million net and comprehensive loss and a $0.040 loss per share in 2014.

Memex qualified for up to $800 thousand in Government of Canada funding through FedDev Ontario’s Investing in Business Innovation (“IBI”) initiative.

Financial Highlights for the Quarter Ended September 30, 2015:

Memex generated quarterly revenue of $575 thousand, a $373 thousand or 179% increase when compared to Q4-2014, and $124 thousand more than Q3-2015.

The quarterly loss from operations of $600 thousand was down $153 thousand from $753 thousand for the same period a year ago, and $266 thousand less than the $866 thousand reported Q3-2015.

Operational Highlights for the Year:

Memex sold its flagship software product, MERLIN, to 32 new manufacturing enterprise customers in Canada, Mexico, the United States and Australia including Lynch Fluid Controls Inc., Koss Aerospace Ltd., Industrial B&S de Mexico SA de CV, FM Industries Inc., ANCA Pty Ltd., The Oilgear Company and Milwaukee Electric Tool Corporation.

In August 2015 Memex was invited by Mazak Corporation, a global machine tool leader, to join its exclusive Value Inspired Partner (VIP) program. Memex is the only such partner offering software in its category.

Memex acquired the intellectual property and other related assets of Dostek Incorporated and engaged its President, Doug Struthers, in the role of Merlin Direct Numerical Control (DNC) Architect to bolster Merlin’s DNC product capabilities.

Commencing January 2015 Memex focused its own Partner Channel program on relationships and future business potential with three of its largest partners: Mazak, Okuma, and Mazak Optonics.

Management Commentary:

Memex’s President & CEO David McPhail stated, “We are very proud of our accomplishments during fiscal 2015, and our team is focused on achieving even greater growth. More than 90% of manufacturers today run their factories without IIoT software and our job is to turn them on to MERLIN’s well-documented return on investment.  I commend each and every one of our employees for their contributions to this record year. And all of us want to thank our new and existing manufacturing customers for placing their trust in us as they take advantage of MERLIN software’s productivity promise.”

Memex’s Vice President of Sales John Rattray stated, “We have expanded MERLIN’s global customer footprint, continued investment in the development of our direct sales and partner channels, and achieved success with key partners. As well as customer expansion, we have immense potential within our existing install base.  All of this progress is reflected in the numbers reported. The Industrial Internet of Things is a desirable concept to many advanced manufacturing firms. To MERLIN customers however, it’s an achievable, real-time reality with fast payback.”​

About Memex Inc.

Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that connects to any machine and delivers real-time manufacturing productivity metrics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE). It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect or hardware adapters for older machines. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

Ed Crymble, Chief Financial Officer

905-635-1540 ext. 110

ed.crymble@MemexOEE.com

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.