Mr. Curtis Page reports

ALPHINAT ANNOUNCES A PROFIT BEFORE NON-CASH CHARGES OF $21,937 AND A NET LOSS TO $(5,848) FOR FISCAL 3RD QUARTER ENDED MAY 31, 2023

Alphinat Inc. had revenues of $393,621 for fiscal quarter ended May 31, 2023, as compared with $518,750 for quarter ended May 31, 2022, with a net loss to $5,848 for the fiscal quarter ended May 31, 2023, compared with a net profit of $197,285 in the same period of fiscal 2022.

During the quarter ended May 31, 2023, Alphinat concentrated most of its commercial efforts on project deliveries for digital service to the public sector, partnerships and licence sales. SmartGuide low-code software continues to be used by federal, agencies, state/provincial and municipal governments to create the best user experience and solution deliveries, gaining enhanced productivity.

Overview: SmartGuide brings faster agile development with LiveaiAssist to the cloud, Web and mobile leveraging artificial intelligence (AI) to further accelerate the creation of complex digital applications for public sector. Alphinat sells SmartGuide software and SmartGuide solutions, which are used for development and delivery of advanced digital services and secure portal solutions for governments to meet their citizens expectations for digital government.

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 unparalleled 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 (1) has optimized the way that clients can now create and deploy on-line services on top of Microsoft Dynamics 365 CRM (customer relationship management) 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 the SmartGHGR solution;
4. SmartGuide claims solutions was developed in conjunction with a major IT (information technology) consulting partner, which aims at offering unparalleled 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.

Alphinat's financial statements and management's discussion and analysis for the period ending May 31, 2023, can be found on SEDAR+.

About Alphinat Inc.

Alphinat is a fintech (financial technology) company that develops software for governments and is actively used to serve over 50 million end-users of federal, state and municipal digital services. Alphinat employs artificial intelligence and reduces the need to code, allowing managers to quickly deploy on-line solutions that easily integrate with existing systems.

Alphinat enables people to easily develop and deploy secure digital service leveraging its SmartGuide low-code development software. Alphinat provides those closest to an application's end-users with an easy-to-use no-code software development platform. At the same time, the company 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 Alphinat's low-code platform, SmartGuide, kickstart your project using one of the company's prebuilt apps, or engage Alphinat or one of its partners to do the work for you, Alphinat is here to help you deploy better applications in record time.

(1) Dynamics 365 is a trademark of Microsoft Corp.

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