TYMLEZ Group Limited (“TYMLEZ” or the “Company”) (ASX:TYM) is pleased to provide the Appendix 4C for the March 2019 quarter, along with an operational update.
Key financial and operational details for the quarter are as follows:
- $189k in Cash Receipts for the March quarter
- $204k sales orders from 2018 to be recognised in 2019 not included in Q1 cash receipts
- $199k of new orders received in Q1 not yet reflected in Q1 cash receipts
- Strong balance sheet with cash of $3.338M as at 31st March 2019
- Continued growth in key customers and channel partners
TYMLEZ, a leading enterprise grade blockchain technology Company is pleased to report cash receipts of $189k for the March quarter. At the end of the period the Company also has $204k of sales orders from 2018 that will be recognised during the remainder of 2019. Additionally, the Company also received new orders for $199k in Q1 that have not yet been reflected in cash receipts for the period but are expected to be recognised in 2019.
Partner and Direct Customer Engagement continues to grow – use cases have increased to 28
TYMLEZ is selling application accelerators in four key categories;
- Document Sharing,
- Know Your Customer (KYC) onboarding and credential tracking,
- Tracking and Tracing digital assets and
- Loyalty Reward token exchange.
In addition, TYMLEZ direct engagement extends the functionality of our platform adding more and more application accelerators over time. The direct engagement sales effort creates a “pull effect” and we now have 28 use cases, an increase of 5 in the quarter.
TYMLEZ Partner Network expansion
During the period our partner network and geographic reach has continued to increase. We have seen growth in both our software suppliers and technology vendors. Our platform is complementary to SUSE, HPE and EPI Use as we have seen in our new and expanding South Africa network. Large partners like Boston Consulting (Platinion) and KPN also bring together large transformational projects and are equally a priority in our sales effort.
National South African Government contracts
The Company, in conjunction with BrightSolver Capital Ltd & Tymlez consulting partner Nascent Group, were awarded a national project with the South Africa National public sector entity as part of a three-year agreement, delivering technology enabled services to citizens.
The TYMLEZ Blockchain Platform has been selected as the foundation for securing and safeguarding the Personally Identifiable Information (PII) of anyone using a new South Africa National public sector service. This will be the largest Blockchain project for South Africa, and the TYMLEZ Platform ensures that the South African Government and associated national entities can easily deliver secure PII to any Public or Private Sector Stakeholders.
The Company also expanded the team in South Africa with the appointment of Marcus Mudd, who is now in charge of South Africa and will lead our business there to further accelerate growth of our business behind this great momentum.
The Company has been selected by The Australian Government Department of Industry, Innovation and Science to attend Austrade’s Mission to Consensus in New York in May 2019. TYMLEZ was selected as one of the 30 companies to receive funding to attend this important event. Companies were selected based on their Proof of Concept and preparedness to take advantage of business opportunities at Consensus. Applications were also reviewed under Austrade’s mission to contribute to the prosperity of Australia.
As we saw from IDC2 at the CIO Summit South Africa, Blockchain evolution is dependent on driving use cases and we believe TYMLEZ is leading the market in this at present.”
TYMLEZ Platform Product Updated to Version 2
The Company has finished the development of the new version 2.0 and this has now been released into a BETA program. The main features of the new release are the support of BFT (Byzantine FaultTolerant), improved user experience especially for Developers, and extended support for various deployment scenarios supporting Kubernetes, Docker and Vagrant. All existing business scenarios will be available like Tracking and Tracing, HR Onboarding, Secure Document Handling, Exchange of digital Ownership rights besides various technology updates.
Blockchain Addressable market $US176 Billion by 2025, $3.1 Trillion by 20301
TYMLEZ blockchain designed for business, creates a permanent record, secure and unalterable from a decentralised network structure enabling a unique asset to be transferred over the internet without the need for a middle-centralised agent. According to Gartner the addressable market for blockchain applications will grow from $US175 Billion in 2025 to $3.1 Trillion in 2030. TYMLEZ is well positioned in the short term to access this market through its growing partner ecosystem leveraging existing and new use cases.
About TYMLEZ (ASX:TYM):
Blockchain designed for business. TYMLEZ provides a highly scalable, multi-tenant, enterprise-grade smart contract blockchain platform which can be deployed in minutes and / or implemented via partners within an enterprise or across a consortium. We bring commercial grade blockchain technology to the enterprise. We do this by delivering a scalable platform which enables accelerated development, management, and deployment of enterprise blockchain applications.