Boardwalktech Signs Significant Contract With Leading Professional Services Firm
CUPERTINO, CA, July 18, 2018 /CNW/ - (TSXV: BWLK) - Boardwalktech Software Corp. ("Boardwalktech"), a leading enterprise blockchain software company, is pleased to announced that it has signed a significant contract with a multinational professional services and tax firm to deploy its patented blockchain digital ledger data management platform. The contract begins this quarter and involves an annual subscription license, plus professional services work to enable enterprise applications. With this new contract, Boardwalktech's existing customers/users now include two of the "Big Four" accounting firms, plus 25 of the Fortune/Global 500 companies.
By engaging Boardwalktech on this solution, this new customer will be able to digitally transform their existing, sophisticated tax applications without having to re-platform which will minimize disruption to their existing engagement models while providing them a comprehensive digital transformation result providing scale, security, centralized data management, integration with other systems, and an on-ramp to the emerging blockchain technology.
"With this new contract, Boardwalktech has added its second "Big Four" accounting firm customer who is using our technology for its mission critical applications, which is both a significant endorsement regarding the uniqueness of our patented digital ledger blockchain technology and will contribute to future revenue," said Andrew T. Duncan, President and CEO of Boardwalktech Software Corp.
Digital ledger-based data, where information is arranged within a grid and the position and order of the data conveys business meaning, has historically posed a challenge for digital transformation efforts. Boardwalktech's patented positional cell data management technology, first offered to market in 2007 as a digital ledger database and now referred to as a blockchain digital ledger, is uniquely capable of digitally transforming and scaling grid-based digital enterprise information exchanges which today are done inefficiently with great risk most often in legacy desktop environments like Microsoft Excel.
In connection with its June 11, 2018 listing on the TSX Venture Exchange, Boardwalktech has engaged Grit Capital Advisory ("Grit Capital") to provide investor relations and shareholder communications services. Grit Capital has been engaged to assist with engaging the investment community; coordinating investor roadshows and shareholder meetings, key messaging and preparing and distributing news releases. Under the terms of the Agreement, Grit Capital will receive $8,000 CAD per month for an initial 6 months. The Agreement also provides for a fee of $50,000 in restricted stock units to be vested equally over a three-year period; Grit Capital does not own any shares in the Company.
About Boardwalktech Software Corp.
Founded in 2004, Boardwalktech has developed a patented digital ledger technology that allows for multi-party collaboration and verification on a trusted, shared, secure, and private information cloud. Our Boardwalk Enterprise Blockchain data management platform allows rapid blockchain application development on many platforms using any user interface, supporting "smart contract" business logic, integration with legacy systems and an easy method of connecting all participants (through Boardwalk virtual machines) enabling the exchange of secure and validated digital business information.
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.
Forward-Looking Information and Statements
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.
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.
For further information: Charlie Glavin, Boardwalktech, Inc., 650-618-6163, firstname.lastname@example.org; Investor Relations: Joanna Longo, 416-575-6965, email@example.com
Released July 18, 2018