On April 14, 2021, Carl Data Solutions (CSE: CRL) updated the market on its recent milestones and future objectives.
A developer of Big-Data-as-a-Service (BDaaS)-based solutions and Industrial Internet-of-Things (IIoT) applications – CRL saves clients time and money by aggregating information from any sensor or source to create a real-time decision support system.
CRL has been steadily building revenue, from $1.2 million in 2017, to $1.6 million in 2018, to $3.2 million in 2019, to $5.5 million in 2020.
Three months ago, CRL announced the hiring of a new CEO, Mr. Jean-Charles Phaneuf – who has a track record in investment banking and tech development, involving M&As, SaaS VoIP and artificial intelligence (AI).
As the new CEO, Phaneuf declared that CRL was “on the cusp of unlocking substantial value for its shareholders with all the technical ingredients to capitalize on its suite of predictive AI technology.”
“My top priority in the first 100 days is to clean up the balance sheet,” Phaneuf confirmed to Equity Guru’s Jody Vance, “Too much debt from my point of view, and I want to resolve that.”
“The last 90 days has been like training for a marathon,” stated Phaneuf in the April 14, 2021 update, “We announced an oversubscribed Private Placement of $5,601,288, a $2,000,000 Line of Credit, $250,000 in Convertible Debentures, and converted $1,491,000 of corporate debt.”
During Phaneuf’s tenure, CRL has hired new senior executives in business development, corporate marketing, technical operations, and product management.
Carl Data Solutions is at the nexus of what Deloitte Global calls “The Big Four” of Industry 4.0 technologies:
- Internet of Things
- Artificial Intelligence
- Big Data/Analytics
- Cloud Infrastructure
CRL provides industry and government customers with solutions that “collect, cleanse, organize, store and analyze time-series data in mission-critical applications like Environmental Monitoring as a Service (EMaaS).
During Phaneuf’s 3-month tenure, CRL signed two strategic partnerships:
- A partnership with Smart IoT Technologies to provide high-quality sensors used in conjunction with Carl Data Solutions’ existing IIoT technology to provide EMaaS to new and existing customers.
- A partnership with Think-QA to expand Carl Data Solutions’ role in the Renewable Energy sector by providing value-added services to Think-QA’s existing solar and wind farm customers.
“Now we’re ready to run at peak performance,” stated Mr. Phaneuf.
CRL’s current objective is to “increase cross-sell and upsell opportunities with existing market segments comprised of Water, Sewage, Solid Waste Management and EMaaS.
CRL’s 2021 projected milestones:
- Expand current solutions to Smart Cities by selecting early adopters of Internet of Things (IoT), time-series data, Machine Learning and Artificial Intelligence. Leverage Carl Data Solutions’ current customer base of over 100 cities to attain this goal.
- Expand current solutions to new Smart Connected Spaces by building strategic partnerships in the IIoT sector.
Forecasts by Statista suggest that the IoT market will grow to around $1.6 trillion by 2025.
“After 90 days, we are on track and aligned with the growth plan we laid out,” Phaneuf stated, “Our short-term objective was to implement the Carl Data Solutions cornerstones: finance, people, partners and processes that we can build upon”.
“Going forward, we can focus on growth, create advanced solutions for our customers and enhanced value for our shareholders,” added Phaneuf.
In the April 14, 2021 news release, Carl Data stated that all new market opportunities “will undergo a disciplined evaluation process that ensures maximum profitability”.
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SOURCE Global Stocks News
