BOARDWALKTECH EXPANDS LICENSE, AGAIN, WITH MAJOR ACCOUNTING AND CONSULTING FIRM
CUPERTINO, Calif., Aug. 3, 2022 /CNW/ - (TSXV: BWLK) (OTCQB: BWLKF) - Boardwalktech Software Corp ("Boardwalktech" or the "Company"), the leading Digital Ledger Platform and enterprise software applications company, is pleased to announce it has expanded and increased its license and services contract with an existing customer – one of the top accounting and consulting firms with over 300,000 employees throughout the world.
Using the Boardwalktech Digital Ledger Platform, this customer has implemented a system for information and data management across a wide variety of their client engagements. This new system for managing data, aggregating information from disparate systems, and reporting and analytics greatly improves this customer's process for each client and leverages the key features of Boardwalktech's unique Digital Ledger platform.
The latest renewal of this license and services contract, first started in 2018, increases the annual recurring revenue by an additional $500,000 for the current fiscal year with margins in line with historical levels.
"This contract extension is yet another example of an existing license customer expanding the use of the Boardwalk Digital Ledger (BDL) platform across its enterprise. This customer continues to realize the great business benefits, ROI, and increasing value the platform is bringing to their entire ecosystem, which includes both customers and internal users. This is great validation of increased demand for our product and epitomizes the power of our land and expand strategy driving additional recurring revenue for Boardwalktech," said Andrew T. Duncan, CEO of Boardwalktech. "Aggregating information into a single source of truth – the Boardwalk Digital Ledger, with immutable history and auditability, dramatically improves information management, reduces risk, improves compliance and security while providing a much more robust and easier way to manage data across the entire enterprise."
Boardwalktech has developed a patented Digital Ledger Technology Platform currently used by Fortune 500 companies running mission-critical applications worldwide. Boardwalktech's digital ledger technology and its unique method of managing vast amounts of structured and unstructured data is the only platform on the market today where multiple parties can effectively work on the same data simultaneously while preserving the fidelity and provenance of the data. Boardwalktech can deliver collaborative, purpose-built enterprise information management applications on any device or user interface with full integration with enterprise systems of record in a fraction of the time it takes other non-digital ledger technology-based platforms. Boardwalktech is headquartered in Cupertino, California with offices in India and operations in North America. For more information on Boardwalktech, visit our website at www.boardwalktech.com.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such information and statements.
An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risk Factors" in the Company's filing statement dated May 30, 2018. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
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Released August 3, 2022