Mr. Curtis Page reports

ALPHINAT ANNOUNCES A REDUCTION IN NET LOSS TO $(19,430) FOR FISCAL 2ND QUARTER ENDED FEBRUARY 28, 2023

Alphinat Inc. had revenues of $368,684 for fiscal quarter ended Feb. 28, 2023, an increase of 18.7 per cent as compared with $310,521 for second quarter fiscal 2022 with a decrease in net loss to $(19,430) for the fiscal quarter ended Feb. 28, 2023, compared with a net loss of $(85,157) in the same period of fiscal 2022.

During the quarter ended Feb. 28, 2023, Alphinat concentrated most of its commercial efforts on its partnerships and accelerating sales and delivery of digital service to the public sector. Furthermore, SmartGuide software continues being used by federal government departments and agencies, state/provincial and municipal governments to accelerating solution deliveries, enhance productivity gains, and user experiences.

In order to accelerate future growth, Alphinat has considerably broadened its horizons by now counting five main areas of solution deliveries:

1. SmartGuide grants and contributions solution was developed in conjunction with a federal department of the Canadian government. This platform offers unparallelled productivity for federal, state and municipal clients creating calls for grants including financial program creations for applications, adjudication and payments.
2. SmartGuide portal edition for Dynamics 365 has optimize the way that clients can now create and deploy on-line services on top of Microsoft Dynamics 365 CRM solutions. This offering is available in SaaS (software-as-a-service) mode as well as on premises.
3. SmartGuide green house gas registry solutions is a green fintech solution allowing governments and industry to work together in reducing the harmful effects of greenhouse gas. Alphinat currently has three provincial clients for this solution.
4. SmartGuide claims solutions was developed in conjunction with a major IT consulting partner, which aims at offering unparallelled productivity to federal, state and municipal clients for financial claims applications, adjudication and settlements for financial compensation and class action settlements.
5. SmartGuide Civic portal, Civic portal for permits and licensing and SmartGuide municipal cloud are municipal cloud and on-premises solutions front-ending partner solutions and other digital services for improved user experience for both the cities and their citizens.

The company delivers solutions to various federal, state/provincial agencies and municipalities across North America. In addition, the company continues to be involved in supporting its partners to ensure the delivery of solutions to government customers.

For the three-month period ended Feb. 28, 2023, the company recorded total revenue of $368,684 compared with $310,521 for the same period in 2022. The net losses for the quarter ended Feb. 28, 2023, amount to $(19,430) or (0.03 cent) per common share compared with net loss of $(85,157) or (0.2 cent) per common share for the same period ended Feb. 28, 2022.

Alphinat's financial statements and management's discussion and analysis for the period ending Feb. 28, 2023, can be found on SEDAR.

About Alphinat Inc.

At Alphinat, the company is driven by the passion to make application development easy for everyone and system interoperability issues a thing of the past. It enables people with the vision of how a finished application should look and behave to be a major part of the development process. After all, what better way to ensure a favourable outcome than to provide those closest to an application's end-users with a vested interest in its success throughout its development?

That is why it brings you new ways to empower the right people at the right time in the application development process. At the same time, it is constantly working to reduce the need to code to make application development and maintenance simpler and less error-prone.

So, whether you choose to develop your applications with the help of the company's low-code platform SmartGuide, kick-start your project using one of the company's prebuilt apps or engage it or one of its partners to do the work for you, Alphinat is here to help you deploy better applications in record time.

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