TORONTO, Dec. 10, 2015 /CNW/ - Breaking Data Corp. (the "Company") (TSX VENTURE: BKD) is pleased to provide an update.
Corporate Name Change
On September 9, 2015 the Company announced a name change to Breaking Data Corp. in order to better reflect our direction and emphasize our core strengths as a leader in semantic and natural language processing ("NLP") technology used to extract "breaking" news from social networks. The Company's strategic opportunities lie in many vertical markets which can greatly benefit from real-time information, news and notifications obtained from social media. To that end the Company is currently exploring opportunities in multiple verticals where our technology can produce profound and valuable results for consumer and business products as well as enterprise solutions.
Since the introduction of the Company's BreakingSports App in early 2015, the growth and usage has continued to rise with over 800,000 downloads to date. In addition, last month the app delivered over 50 million notifications and over 300,000 unique pieces of news. The app has been exceptionally well received by key influencers in professional sports, fantasy sports and sports wagering sectors, all of whom are hungry for real time social media news and information on players and teams. Our technology has proven to deliver the fastest breaking news alerts customized by the user, in an automated fashion. Over the course of the last several months our app has "broken" key sports news regarding trades, injuries, lineup and roster changes, in most cases, faster than any existing sports app. These results can be vital to those in the industry as well as fantasy and sports wager players alike. Moreover, the technology is machine driven and uses semantic and NLP intelligence to distill key information out of the massive flood of social media noise that occurs daily.
Industry insiders are taking notice and the Company continues to explore several avenues and opportunities to establish strategic relationships and revenue generating integration that will allow our technology platform to flourish in the sports vertical.
Multiple Market Verticals
In recent months, the Company is pleased to report that new pilot projects have begun and while they do produce some moderate revenue in the near term, more importantly they continue to validate the Company's growth strategy and value propositions to various new and potential partners. To that end, most recently the Company has been engaged to build and license a proprietary enterprise solution for a world leading large multinational technology company which includes 2 phases consisting of web based customized search tool in phase 1 and a visualization of entities in phase 2.
In addition, the Company is in advanced discussions to integrate its NLP and sematic search capabilities with other companies in different verticals. There is no assurance at this time that opportunities in the pipeline will materialize into revenue generating agreements for the Company; nevertheless; these unsolicited strategic projects that are in discussion and/or negotiation stages, continue to validate the wide range of interest and potential value of the Company's technology platform.
The Company continues to work with Tabcorp Holdings Limited (ASX: TAH), a world leading wagering company, to offer a new version of BreakingSports app to the Australian market. This mutually exclusive agreement is important to the Company as it will provide Breaking Data with a new revenue stream and an annual guaranteed minimum payment. While the progress since signing the agreement has moved slower than originally anticipated, both parties are fully engaged and working towards completing the customized Australian BreakingSports app and we expect to deliver the app to the Australian market, with a coordinated marketing effort in 2016.
Appointment of New Director
The Company is pleased to announce the appointment of Rajiv "Roger" Rai to its board of directors. Roger, a huge sports fan, is highly immersed into the North American sports industry at the executive level. He brings a seasoned level of sports industry expertise and connections that are directly aligned with the Company's growth strategy.
"We are excited and fortunate to be able to utilize Roger's immense sports related network and industry advice," said Marvin Igelman, CEO of Breaking Data Corp. "Roger knows how to bring key relationships in the sports vertical to our Company and is one of biggest fans of the BreakingSports app. His board participation will certainly be advantageous."
Roger is the Managing Director, E. S. ROGERS Enterprises. In his capacity as Managing Director at E. S. Rogers Enterprises Roger advises Edward Rogers, the representative controlling shareholder of Rogers Communications, on business development, revenue development, partnership development, talent development and sports. Roger is also the President of R3 Concepts Inc., a company that acts as a basis for investments he makes and consulting services he provides. He is also currently is an advisor to Chobani, Inc., a retail food services company. Roger sits on the Board of Directors for CONSTANTINE Enterprises Inc., a privately held real estate Company, based in Toronto, with operations in Canada and the Bahamas. He is a founder and on the board of the ONEXONE Foundation, a charitable organization focused on global child welfare.
Roger will be replacing Keith Yokomoto, who is moving on to pursue other interests. The Company would like to thank Keith for his years of participation and support and wishes him the best moving forward.
The Company announced that it has issued 2.45 million share purchase options to 4 directors of the board and 3 key members of management. This is the first grant of options to board and management in 2 years and is instrumental to obtain and retain key personnel. Each option is exercisable at $0.25, vests over 24 months and expires in 5 years.
About Breaking Data Corp.
Breaking Data Corp. is a technology provider of semantic search, machine learning and natural language processing ("NLP"). The Company's newest app, BreakingSports, utilizes semantic machine learning and NLP to track social media in a fully automated, real-time manner for significant sports information and events and distributes summarized information through real-time push notifications to consumers. The Company also enables mobile application providers to generate revenue into their apps via its "Poynt-Enabled" SDK and owns Poynt, a local mobile search app. Find out more at breakingdatacorp.com.
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.
Cautionary and Forward-looking Statements - Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of Sprylogics to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in Sprylogics' other continuous disclosure filings, which are available at www.sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
SOURCE Breaking Data Corp.
For further information: Breaking Data Corp., David Berman, CFO, (905) 761-9200, Ext. 21, [email protected], www.breakingdatacorp.com