Technology

Biotricity Produces Largest Inventory in its History to Meet Accelerated Demand

Published

1 year ago

December 27, 2024

Company Receives Capital Needed from its Term Lender and Existing Investors to Reach Profitability without any need for future financing.

REDWOOD CITY, Calif., Dec. 27, 2024 /PRNewswire/ — Biotricity Inc. (OTCQB: BTCY) (“Biotricity” or the “Company”), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, today announced that it has completed a series of financings that bolster the Company’s financial health, reduce execution risk, and provide it with the necessary resources to achieve profitability.

Company has all the capital needed to achieve profitability with no need for any future financing.

Dr. Waqaas Al-Siddiq, Biotricity’s Founder & CEO, explains: “While continuing on our mission to produce transformative healthcare technologies, we have demonstrated a strong commitment to growth and operational efficiency through innovation, automation and financial discipline, driving revenue and margins on our path to profitability. We also recently announced the significant achievement of positive Free Cash Flow, one of the key metrics towards profitability is Free Cash Flow. In so doing, we received an added vote of confidence from our investors and our largest term lender.”

As disclosed within the financial filing of our most recent quarter, the Company added $811 thousand dollars of capital in the form of promissory and convertible promissory notes, thereby more than matching $635 thousand of additional term loan proceeds from its term loan lender. The term loan lender also provided interest relief through the capitalization of $945 thousand due on the Company’s pre-existing term loan.

Al-Siddiq added: “This capital support has allowed the Company to invest in its largest manufacturing order to date, which will allow it to fulfill anticipated sales orders in calendar 2025. This support and the added revenue that will flow from selling the additional inventory and the connected SaaS-based technology sales that those will generate, provides the Company with enough capital to augment its positive Free Cash Flows and achieve its goal of full profitability within the next calendar year. Stated differently, Biotricity has all the inventory and cash resources to achieve profitability without any need for future financing.

“The most exciting part of our story is that we have achieved economies of scale and efficiencies so that as revenues grow, our expenses will grow at a much lower pace. Our proprietary AI workflow engine has already improved our operational capacity by 50% with an expected further improvement of 15%. This translates to significantly reduced operational expense increases.”

We expect further operational improvements as we continue to enhance and improve our proprietary AI systems. Our next generation AI cloud will improve COGS across our entire SaaS business by 5% post FDA clearance, providing an additional boost to future profits.

About Biotricity Inc.
Biotricity is reforming the healthcare market by bridging the gap in remote monitoring and chronic care management. Doctors and patients trust Biotricity’s unparalleled standard for preventive & personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The Company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com.

Non-GAAP Measures
Free Cash Flow is a non-generally accepted accounting principle (“non-GAAP”) measure that represents the cash that the Company generated from its operations after deducting cash used on operating expenses and any capital asset spending. Unlike other accounting measures such as earnings or net income, this measure of profitability excludes non-cash expenses, but includes spending on any capital assets, as well as changes in working capital on the Company’s Balance Sheet. Free Cash Flow therefore represents the cash that the Company has generated that is available to repay creditors and pay interest or dividends to lenders and investors.

We provide non-GAAP financial information to enhance the understanding of Biotricity’s GAAP financial information; it should be considered by the reader in addition to, but not instead of, the financial statements prepared in accordance with GAAP. We believe that providing these non-GAAP measures in addition to the GAAP measures allows management, investors and other users of our financial information to more fully and accurately assess business performance. The non-GAAP financial information presented may be determined or calculated differently by other companies and may not be directly comparable to that of other companies.

Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” “project,” or “goal” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company’s future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company’s inability to expand the Company’s business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s failure to implement the Company’s business plans or strategies. These and other factors are identified and described in more detail in the Company’s filings with the SEC. There cannot be any assurance that the Company will ever become profitable. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

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SOURCE Biotricity

Technology

Robinson Nuclear Plant receives approval from U.S. Nuclear Regulatory Commission to continue operating until 2050

Published

41 minutes ago

April 23, 2026

License extension supports growing energy demand, helps keep customer costs as low as possibleExtended operation provides significant economic benefits for Pee Dee region

Editor’s note: Visit the Duke Energy News Center for downloadable B-roll and high-resolution images of Robinson Nuclear Plant.

CHARLOTTE, N.C., April 23, 2026 /PRNewswire/ — The U.S. Nuclear Regulatory Commission (NRC) has renewed the operating license for Duke Energy’s Robinson Nuclear Plant for an additional 20 years, extending the plant’s ability to deliver reliable energy until 2050.

Robinson, located in Hartsville, S.C., provides enough energy to power 570,000 homes and plays an important role in protecting reliability and affordability for customers as regional electricity demand continues to grow.

What they’re saying

South Carolina Gov. Henry McMaster: “South Carolina’s energy needs continue to rise, and extending Robinson Nuclear Plant’s operating license preserves a reliable, affordable source of nuclear energy our state depends on. This plant ensures we have the power needed to support jobs and strengthen communities across the Pee Dee region.”Congressman Russell Fry (SC-07): “For 50 years, Robinson Nuclear Plant has been the backbone of South Carolina’s nuclear fleet. The extension of its license is monumental for the Pee Dee and allows Duke Energy to continue providing affordable, reliable electricity to homes and businesses in the region. This renewal is a win for families in the Pee Dee, Robinson Nuclear Plant’s employees and Darlington County as a whole.”Steven Capps, chief nuclear officer for Duke Energy: “Extending the operating life of this proven asset helps us deliver low-cost, always-on electricity for customers while supporting jobs and energy security for the region. Robinson’s subsequent license renewal reflects the strength of our safety culture and the rigorous work our teams do every day to support our communities.”

Why it matters

Duke Energy’s nuclear fleet provides about 51% of customers’ energy needs in the Carolinas, making nuclear energy an essential component of the company’s diverse generation portfolio.License renewal extends the use of cost-effective generation, resulting in significant savings for customers over time.Extended operation sustains significant economic benefits for Darlington County and the broader Pee Dee region.

Robinson by the numbers

Delivers 759 megawatts (MW) of electricity, powering nearly 570,000 homes.Nearly 500 high-paying jobs supported.$1.7 billion in equipment upgrades completed.Approximately $28 million in annual local tax contributions.

Go deeper

U.S. nuclear facilities are licensed by the NRC. The process to renew a license requires a comprehensive analysis and evaluation to ensure the plant can safely be operated for the period of extended operation.Robinson’s original 40-year operating license was granted by the NRC in 1970, making it one of the first commercial nuclear power plants in the Southeast. Robinson’s initial license was renewed for an additional 20 years of operation until 2030, and the subsequent license renewal allows for continued operations until 2050.Robinson is the second Duke Energy nuclear facility to receive approval for subsequent license renewal, following Oconee Nuclear Station in 2025. Duke Energy plans to seek subsequent license renewal for all 11 operating units across its nuclear fleet.For more background and updates on the subsequent license renewal process, visit Duke Energy’s subsequent license renewal webpage.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.

More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.

Contact: Mikayla Kreuzberger
24-Hour: 800.559.3853

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SOURCE Duke Energy

Technology

Cin7 Appoints Sheldon Cummings as Chief Executive Officer

Published

41 minutes ago

April 23, 2026

Seasoned SMB technology leader joins to drive AI-powered growth for inventory and commerce platform

DENVER, April 23, 2026 /PRNewswire-PRWeb/ — Cin7, a leading inventory management and connected commerce platform for small and mid-sized businesses (SMBs), today announced the appointment of Sheldon Cummings as Chief Executive Officer, effective April 20th. Sheldon succeeds Ajoy Krishnamoorthy, who is stepping down after leading the company through a significant period of product investment, global expansion, and customer growth.

I’m thrilled to be joining Cin7 at such a defining moment for both the company and the future of commerce.

“Leading Cin7 over these past few years has been one of the most rewarding experiences of my career,” said Ajoy. “I am proud of the work that we’ve done to improve the product, unite our global team, and deepen our connection with our customers. I’m confident that Sheldon is the right leader for Cin7’s next phase and I look forward to watching this team take the business to the next level.”

Sheldon brings more than 25 years of experience scaling technology businesses that serve small and mid-sized businesses. He most recently served as President and General Manager of the Corporate Business Unit at Smarsh. Prior to Smarsh, he served as Chief Operating Officer of Mailchimp, leading revenue, strategy, and operations across one of the world’s most widely used SaaS platforms for small businesses. He has also held senior leadership roles at Intuit, including Vice President of Sales, where he contributed to scaling go-to-market engines for SMB and Mid-Market focused products.

Sheldon joins Cin7 at a pivotal moment as AI reshapes how businesses manage inventory, fulfill orders, and connect their commerce operations. Already deeply invested in AI, Cin7 is positioned to lead the transformation by delivering smarter, faster, and more connected capabilities to its customers around the world.

“I am thrilled to be joining Cin7 at such a defining moment,” said Sheldon Cummings. “Cin7 has built something genuinely valuable. It has real product depth, a passionate global team, and a large market still full of opportunity. There is a compelling opportunity to become the intelligent commerce platform for SMB and Mid-Market product sellers across the globe. To be the one that harnesses the power of AI to help businesses operate better and grow faster. I am excited to partner with this team to chase that opportunity and to continue delivering the innovation our customers deserve.”

Cin7 serves thousands of businesses worldwide, helping them manage inventory, streamline operations, and connect their sales channels through a single, powerful platform. With teams in the United States, United Kingdom, New Zealand, Australia, Sri Lanka, the United Arab Emirates, India, and the Czech Republic, Cin7 operates as a truly global business with a local commitment to every market it serves.

About Cin7

Cin7 is the leading inventory management and connected commerce platform for small and mid-sized product businesses. Cin7 helps growing brands manage inventory, automate workflows, and connect their sales channels, from e-commerce to wholesale to retail, in one powerful, easy-to-use platform. With over 8,500+ customers in over 100 countries processing over 125 million orders annually, Cin7 is a global business on a mission to make commerce simpler, smarter, and more connected for product sellers everywhere. For more information, visit www.cin7.com.

Media Contact

Karla Fleege, Cin7, 1 509-413-0025, pr@cin7.com, www.cin7.com

View original content:https://www.prweb.com/releases/cin7-appoints-sheldon-cummings-as-chief-executive-officer-302752187.html

SOURCE Cin7

Technology

ShareRing, TKC and Transformational Launch Thailand’s First National Trust Infrastructure for Verifiable Credentials, with Production Rollout Starting June 2026

Published

41 minutes ago

April 23, 2026

A three-party alliance between ShareRing, publicly listed digital infrastructure provider TKC, and Thailand digital transformation firm Transformational will deliver the country’s first integrated Verifiable Credential and Digital Document Wallet infrastructure, anchored on ShareRing’s Privacy KYC technology.

BANGKOK, April 23, 2026 /PRNewswire-PRWeb/ — Turnkey Communication Services PCL (TKC), in partnership with Transformational and ShareRing, today announced a strategic alliance to launch Thailand’s first integrated Verifiable Credential and Digital Document Wallet infrastructure, bridging the trust gap between government and private sector transactions.

We are building the trust layer that the whole country runs on.

“This partnership is about establishing a ‘National Trust Infrastructure,’ which is a critical national policy direction,” said Mr. Sayam Tiewtranon, CEO of TKC. “TKC’s role is to merge our existing infrastructure with global technology standards to drive widespread adoption in alignment with MDES and ETDA. We aim to reduce costs and increase transparency without burdening existing systems, while ensuring future international connectivity.”

Thailand’s Digital Paradox: Connectivity vs. Physical Friction

Despite a 95 percent internet penetration rate, the transactions that matter most, proving where you live, verifying a professional qualification, or applying for a loan, still require a physical visit and photocopies. “In 2026, citizens are still taking half-days off work to manage paperwork at service counters that close at 3 PM,” said Khun Ariya Banomyong, CEO of Transformational, and former Country Head of Google Thailand and Managing Director of LINE Thailand. “What Thailand lacks is a shared infrastructure layer connecting verified documents to real transactions.”

The High Cost of Unverifiable Documents

Reliance on paper documents leaves citizens and businesses vulnerable. “Paper documents are the ‘weakest link’ in the trust chain; easy to forge and impossible to verify,” Mr. Ariya added. “Once data is on paper, you lose control. For businesses, scanned affidavits prove nothing without independent verification, exposing them to massive risks, from unauthorized directorship changes to fraudulent contracts. Nationally, the cost is measured in hundreds of billions of baht in untraceable educational loan portfolios and public services.”

The Solution: Digital Document Wallet plus Verifiable Credential

The alliance introduces a Digital Document Wallet infrastructure, acting as a “Digital Twin” for critical documentation. Powered by ShareRing’s blockchain technology, already deployed in multiple international markets, the platform supports a wide array of Verifiable Credentials. It is designed to accommodate professional licences, employment certifications, company affidavits, academic transcripts and other identity documents as they transition into the ecosystem.

A Three-Party Architecture

The alliance is designed around three complementary roles. TKC provides the national infrastructure footprint and institutional reach into Thai state-owned enterprises. Transformational leads enterprise and government delivery, translating national policy direction into operational rollout. ShareRing contributes the production Privacy KYC technology stack, already live in multiple international markets. ShareRing also holds a strategic equity stake in Transformational, aligning commercial incentives across delivery and technology beyond a standard vendor relationship.

What Institutions Actually Buy: Sovereign Issuance

The commercial offering at the core of the alliance is what ShareRing calls Sovereign Issuance. A government agency, university, regulator or large enterprise issues its own verifiable digital documents, from its own infrastructure, under its own seal. The end user holds the document on a personal device, gives explicit consent before anything is shared, and reveals only what the verifier requires through Zero-Knowledge Proofs. Verification happens in real time, cryptographically, without the verifier ever needing to contact the issuer. Trust stays with the real authority, the issuer, rather than with a centralised intermediary.

Compliant with Global Security Standards (Private and Secure by Design)

The platform is built on privacy-first global standards, with User Consent at its core. It is W3C Verifiable Credential compliant, DIATF certified and ISO 27001:2022 accredited, and aligned with GDPR, Thailand’s PDPA and the Australian Privacy Act. Implementation is being tracked against the emerging OpenID for Verifiable Credentials (OID4VC) interoperability layer being shaped by ETDA.

“By utilizing Zero-Knowledge Proof (ZKP) and Self-Sovereign Identity (SSI), we ensure users verify information without exposing sensitive data,” said Mr. Tim Bos, Co-Founder and Co-CEO of ShareRing. “No information is accessed without explicit user consent, ensuring only the owner holds the access keys to their digital identity.”

From Policy to Implementation

The alliance focuses on providing enterprise-ready solutions to bridge the gap between policy and execution:

Seamless connectivity via SDKs and APIs for immediate integration into existing legacy systems.Sovereign issuance infrastructure enabling organisations to securely issue their own verifiable digital documents.Real-time verification to eliminate manual delays and fraudulent documentation risks.

“We are building the trust layer that the whole country runs on,” said Mr. Rohan Le Page, Founder and Co-CEO of ShareRing. “By deploying W3C-compliant and ISO-accredited technology, we are providing Thailand with an infrastructure built for global interoperability and international business expansion.”

Implementation Roadmap

“We are already in execution,” said Mr. Piya Jirapapongsa, Deputy Managing Director (Operations) at TKC. “Our first deployment goes live with a major state-owned enterprise in June 2026, followed by digital credential issuance for a network of Thai universities in August 2026, with active discussions underway across financial services, hospitality, and public administration.”

A Blueprint for the Region

Thailand is the first national-scale deployment of the alliance’s model. The partners intend the same architecture, a national infrastructure anchor, a locally credible delivery partner, and a W3C compliant identity and credential stack, to serve as a template for broader South East Asian rollout, with regional conversations already active.

For further project enquiries, please contact Mr. Ekkapol Promratanapong, Digital Product Director, TKC, who leads this initiative.

About Turnkey Communication Services PCL (TKC)

TKC is Thailand’s full-service digital infrastructure provider, covering telecommunications, cybersecurity, and digital solutions for government and large enterprises. Led by CEO Sayam Tiewtranon, the company focuses on building infrastructure that is resilient, secure, and compatible with international standards, supporting the country’s transition to a digital economy.

About Transformational Co., Ltd.

Digital transformation consultancy, working with corporate clients and state-owned enterprises, specialising in digital document trust infrastructure and verifiable credential solutions. Led by CEO Ariya Banomyong.

About ShareRing

ShareRing is a Privacy KYC and Verifiable Credential platform operating across multiple international markets. W3C Verifiable Credential compliant, DIATF certified, and ISO 27001:2022 accredited, ShareRing’s infrastructure is built for institutional scale. The company operates ShareLedger, a Cosmos-based Layer 1 calibrated for identity workloads, and ships the ShareRing Me consumer wallet and ShareRing Link enterprise SDK. ShareRing holds a strategic equity stake in Transformational Co., Ltd.

Media Contact

Rohan Le Page, ShareRing, 61 438094075, marketing@sharering.network, https://www.sharering.network

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SOURCE ShareRing