VSBLTY Groupe Technologies Corp. (VSBY) Earnings Call Transcript & Summary

Hello, VSBLTY shareholders, and greetings from Vancouver, Canada. For those of you in Canada, let me take a quick moment to offer a belated happy Candidate Day to those of you in Canada. And for those of you in the U.S., may you enjoy the Independence Day tomorrow, have a restful and relaxing time. I wanted to provide a quick update via video because there's a lot going on in the company at the moment. The first thing I'd like to mention is that our 2022 audit is now complete, while made enormously more challenging due to the necessary reviews of our joint ventures, our international partnerships and our equity participation in multiple private companies. The audit is finally completed, and it is in time to meet the deadline, which because of the holiday is now before the open on Tuesday. The audit will result in some adjustments to revenue and a reclassification of certain amounts of revenue to deferred, but our growth year-over-year is still impressive. I'm just about to embark upon our trip to Mexico City, where we have a Winkel board meeting. And the discussions there are about what is the next territory that Winkel Media will be moving into. Interestingly, over the last several months, the metrics of the company revenue has grown significantly, validating the entire premise of the business, really underlining the opportunity that we have and the foundation that we poured with Winkel Media. And now the discussion is about what other marketplaces do we take these 3 partners, AB InBev, intelligence and visibility, what other markets can we now take this expertise into. I'm excited about some of the early conversations and some of the enormous impact this could have on us in a very short term. Speaking for a moment about the U.S. marketplace. Our team is focused on retail media in the U.S. as well. We've learned a great deal from the Winkel Media exposure, both good and bad, and we're replicating that idea and that concept here in the U.S. A particular note is a couple of weeks ago when we signed a letter of intent with Shelf Nine. Shelf Nine has 4,500 locations, mostly in the Northeast, but all through the U.S. We're working with them and collaborating with them on enhancing their retail media presence with computer vision, artificial intelligence and of course, programmatic capability, which is part of what we do in Winkel Media and of course, working with them to expand that footprint into other marketplaces where we have presence. Of course, we are continuing to work with our value partners on opportunities in the Middle East, Europe and Southeast Asia. Things are setting up to provide us a very interesting summer and fall at visibility. Strategic deployments along with new partnerships will expose us to several high-growth opportunities that we will leverage to continue to drive our leadership primarily but not exclusively in retail. We anticipate that this focus and momentum that we already have will result in proper valuation metrics being driven into our business. Thank you all for your time, more updates to come.