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Genifi Announces Q2 2024 Results

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TORONTO, Aug. 27, 2024 /CNW/ – Genifi Inc. (formerly Prodigy Ventures Inc.) (TSXV: GNFI) (“genifi” or the “Company”) today announced its financial results for the three and six months ended June 30, 2024.

Second Quarter 2024 Financial Results

Revenue for the three months ended June 30, 2024 totalled $256,030 as compared to $493,534 for the three months ended June 30, 2023, a decrease of 48%.Gross profit for the three months ended June 30, 2024 of $127,813 as compared to $339,163 for the three months ended June 30, 2023, a decrease of 62%.Expenses for the three months ended June 30, 2024 of $270,161 as compared to $888,323 for the three months ended June 30, 2023, a decrease of 70%.Net loss from continuing operations for the three months ended June 30, 2024 of $104,032 as compared to a loss of $486,950 for the three months ended June 30, 2023.Income from discontinued operations net of tax for the three months ended June 30, 2024 of $82,898 as compared to $nil for the three months ended June 30, 2023.Net and comprehensive loss for the three months ended June 30, 2024 totalled $21,134 as compared to $486,950 for the three months ended June 30, 2023.The Company had working capital of $2,716,162 as of June 30, 2024 compared to $2,901,095 as of December 31, 2023.

Year-to-Date 2024 Financial Results

Revenue for the six months ended June 30, 2024 totalled $515,572 as compared to $990,578 for the six months ended June 30, 2023, a decrease of 48%.Gross profit for the six months ended June 30, 2024 of $252,150 as compared to $687,237 for the six months ended June 30, 2023, a decrease of 63%.Expenses for the six months ended June 30, 2024 of $606,389 as compared to $2,217,925 for the six months ended June 30, 2023, a decrease of 73%.Net loss from continuing operations for the six months ended June 30, 2024 of $265,670 as compared to $1,267,403 for the six months ended June 30, 2023.Income from discontinued operations net of tax for the six months ended June 30, 2024 of $82,898 as compared to $6,732,497 for the six months ended June 30, 2023.Net and comprehensive loss for the six months ended June 30, 2024 totalled $182,772 as compared to a net and comprehensive income of $5,465,094 for the six months ended June 30, 2023.

Three months ended
   June 30

 Six months ended
June 30

2024

$

2023

$

2024

$

2023

$

Revenue

256,030

493,534

515,572

990,578

Gross Profit

127,813

339,162

252,150

687,237

Expenses

270,161

888,323

606,389

2,217,925

Net (loss) from continuing operations

(104,032)

(486,950)

(265,670)

(1,267,403)

Income from discontinued operations net of tax

82,898

82,898

6,732,497

Net and comprehensive income (loss) for the period

(21,134)

(486,950)

(182,772)

5,465,094

Net income (loss) per share – basic and diluted :

   Continuing operations

(0.00)

(0.00)

(0.00)

(0.01)

   Discontinued operations

0.00

0.00

0.00

0.05

The complete unaudited financial statements and associated Management’s Discussion and Analysis are available under the Company’s profile at www.sedarplus.ca and the Company’s website at www.genifi.com.

About genifi inc.:

Genifi (formerly Prodigy Ventures) delivers Fintech innovation, with its cutting-edge platforms: IDVerifact for digital identity verification, and tunl.chat for generative AI chat.

Forward-Looking and Cautionary Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. Although genifi believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. The forward-looking information is based on certain assumptions, which could change materially in the future. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in genifi’s Management’s Discussion and Analysis for the three and six months ended June 30, 2024, a copy of which is filed on SEDAR+ at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, genifi does not intend, or assume any obligation, to update these forward-looking statements.

Neither 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.

SOURCE genifi inc.

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Huawei Launches Over 20 All-New Xinghe Intelligent Network Offerings to Amplify Industrial Intelligence

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SHANGHAI, Sept. 21, 2024 /CNW/ — During HUAWEI CONNECT 2024, Leon Wang, President of Huawei’s Data Communication Product Line, announced more than 20 all-new Xinghe Intelligent Network offerings globally at the summit themed “Xinghe Intelligent Network, Amplify Industrial Intelligence”. These purpose-built offerings contribute to an AI network ecosystem and help customers seize opportunities for intelligent development and maximize intelligent productivity.

With the development of AI technologies, the world is advancing from digital transformation to intelligent transformation. All industries are quickly adopting AI technologies to create new use cases, for example, self-driving cars, intelligent diagnosis and treatment, and intelligent train inspection. All of these are significantly improving the efficiency and experience of our work and daily lives.

The advent of the intelligent era is driving networks into intelligent ones. Huawei has been making joint efforts with partners to lead research and practices of intelligent networks. That’s why Huawei constantly upgrades its Xinghe Intelligent Network offerings to help customers grasp opportunities for intelligent development, build new intelligent network infrastructure, and maximize intelligent productivity in the intelligent era. Key highlights include the following:

Xinghe Intelligent Campus focuses on AI-enabled, experience-centric campus network construction, ensuring zero freezing for audio and video applications, zero degradation on services, and zero waiting for interactions.Xinghe Intelligent WAN introduces a wide range of intelligent technologies to intelligently schedule millions of flows and precisely optimize service experience.Xinghe Intelligent Fabric adopts the AI Turbo engine to improve network throughput, enhancing foundation model training efficiency.Xinghe Intelligent Network Security integrates AI technologies into network security detection, accurately and rapidly identifying threats.

To support network solutions in various scenarios, Huawei released more than 20 featured offerings globally. Examples include the industry’s first 100 Tbps fixed-form Ethernet data center switch, the industry’s first 51.2 Tbps liquid-cooled fixed-form data center switch, the industry’s first AI router, high-quality 10 Gbps campus switches and Wi-Fi 7 APs, Intelligent SASE Branch Security Solution, and the industry’s first IP Autonomous Driving Network Solution. All these offerings are designed to help customers with greater business returns.

As the intelligent era calls for intelligent networks, Huawei will continue to drive the development of intelligent networks and upgrade its Xinghe Intelligent Network products and solutions, ultimately helping global customers to stride towards the intelligent era and reap more benefits.

View original content to download multimedia:https://www.prnewswire.com/news-releases/huawei-launches-over-20-all-new-xinghe-intelligent-network-offerings-to-amplify-industrial-intelligence-302254757.html

SOURCE Huawei

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HUAWEI CONNECT 2024 | Huawei Unveils the Brand-New Xinghe Intelligent Fabric Solution, Powering the AI Era

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SHANGHAI, Sept. 21, 2024 /PRNewswire/ — At HUAWEI CONNECT 2024, over 300 industry leaders, experts, and scholars gathered for the data center network session themed “Xinghe Intelligent Fabric, Powering the AI Era.” The event featured discussions on the evolution and technological advancements of data center networks. During the session, Arthur Wang, President of Data Center Network Domain at Huawei’s Data Communication Product Line, introduced the newly upgraded Xinghe Intelligent Fabric solution. This cutting-edge solution aims to establish a data center network characterized by one map for intelligent operations and maintenance (O&M), one network for diverse computing, and one platform for simplified deployment, providing a robust network infrastructure to support enterprises’ digital and intelligent transformations.

In his keynote speech, Arthur Wang outlined the emerging trends in data center network development. He emphasized that in the AI era, data center networks require both a “brilliant brain” and “resilient bones.” The newly launched Xinghe Intelligent Fabric solution is designed to deliver a powerful network infrastructure tailored for the AI era, featuring:

One Map for Intelligent O&M: Zero Management Concerns

Huawei’s exclusive network digital map enables rapid cross-data center and cross-vendor fault identification within minutes. Additionally, the NetMaster network large model facilitates AI-driven O&M, eliminating manual intervention and ensuring zero management concerns.

One Network for Diverse Computing: Zero Service Interruptions

The Xinghe Intelligent Fabric supports various application scenarios, including intelligent computing, general-purpose computing, and storage. The innovative Network Scale Load Balancing (NSLB) algorithm increases network throughput to 95% and boosts AI training efficiency by over 10%. With the exclusive iReliable three-level fast switchover capability, it achieves sub-millisecond switchover, guaranteeing zero service interruptions.

One Platform for Simplified Deployment: Zero Configuration Errors

By employing digital twins to simulate networks in advance and verify configurations post-deployment, the solution ensures 100% accuracy in network changes. By harnessing network-security convergence capabilities, AI creates an intelligent security matrix to analyze millions of security policies, achieving zero configuration errors.

Looking ahead, Huawei will continue to collaborate with industry partners to enhance research and innovation in data center networks, promote intelligent upgrades, and create greater value for the industry.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/huawei-connect-2024–huawei-unveils-the-brand-new-xinghe-intelligent-fabric-solution-powering-the-ai-era-302254753.html

SOURCE Huawei

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Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif

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NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.

On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.

As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace  a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”

Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.

Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt. 

Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.

“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.

We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cultivating-a-culture-of-peace-international-day-of-peace-statement-by-education-cannot-wait-executive-director-yasmine-sherif-302254413.html

SOURCE Education Cannot Wait

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