$ITOX 10-Q puts the lie to all of the conjecture
· Our Structural Health Monitoring business continues to gather momentum, having signed a contract extension with a New England State’s DOT for Bridge Monitoring.
"That contract to monitor 3 bridges is several years old and was extended because the work had not been completed or produced conclusive results. It has not led to any new business." THIS IS A LIE.
· We continue to secure significant and supportive funding.
"Looks like next step will be default. And then bankruptcy." THIS IS A LIE.
· We have hired a new full time Machine Learning Engineer, to expand our focus on the Artificial Intelligence (AI) and Machine Learning (ML) aspects of our business.
"one full time employee". THIS IS A LIE.
We believe the underlying strengths of the Company are still in place: an experienced leadership team; contributions of our new Machine Learning Engineer, a PhD level Machine Learning Algorithms specialist; and strong execution on contracts to date. Those completed contracts to date have produced two successful pilot programs: one on manufacturing operations for our Fortune 500 Pharma customer, and a pilot with a full year of data collection and analysis on our structural health monitoring program for a New England state’s DOT – which has now led to a bridge monitoring contract extension. Our continued focus on high potential growth markets (specifically Biotech, Pharma, and Medical Device Operations, as well as Structural Health Monitoring), have yielded numerous prospects for future growth.
It is anticipated that revenue will be generated in the second quarter of 2022 that will exceed total revenue of 2021. We further expect revenue in the second half of 2022 to exceed the total revenue of 2021. In total, we expect that total revenue for 2022 will exceed that of 2019. This is due to the hard work of the past year that has resulted in two successful pilots, in two of our key target industry verticals. We now have data and algorithms to build strong use cases and marketing collateral that can be leveraged to extend contracts with current customers and win additional contracts with new customers in all targeted industry segments. Also, the strength of the collaboration agreements with both Aingura IIoT, S.G. and Aretas Sensor Networks have substantially bolstered financial stability, added talent breadth and depth, and complimentary industry segment experience. Furthermore, the continued liquidity of our stock has attracted funding opportunities, and access to additional capital has and will enable funding of business development, staff augmentation, and inorganic growth opportunities. Combined with our underlying strengths: experienced leadership; savvy technological talent, and operational execution excellence; we believe these revenue goals are achievable.
"has never produced any meaningful revenue." THIS IS A LIE.
