ZenaTech, Inc. (Nasdaq: ZENA) (FSE: 49Q) ("ZenaTech"), a technology
company specializing in AI (Artificial Intelligence) drone
solutions and enterprise SaaS (Software-as-a-Service) solutions,
announces that it has entered into an agreement to acquire Ecker
Capital LLC, the holding company for warehouse management software
companies InterlinkONE Inc. and Interactive Systems Inc., from
ZenaTech’s affiliated company Ameritek Ventures Inc. (OTC: ATVK).
The acquisition of these two software companies will provide
important functionality for integration with its ZenaDrone IQ Nano
AI drone solution, enabling autonomous inventory management for
warehouse and logistics customers. This transaction also further
expands ZenaTech’s portfolio of SaaS software solutions and
customer base and is expected to add to recurring revenues.
Combined operating income for the acquired companies were $354K on
revenue of $678K for the first nine months of 2024, and $386K on
revenue of $949K for FY 2023. The acquisition is subject to any
shareholder and regulatory approvals that may be required.
“This acquisition will add more recurring revenue to ZenaTech,
as well as provide additional functionality to our ZenaDrone IQ
Nano AI drone solution for autonomous inventory management. We look
forward to introducing these ground-breaking solutions to warehouse
and logistics customers in the US and globally. We believe this
dramatically improves decision making and efficient operations by
being able to assess and manage physical inventory cost-effectively
by the hour instead of once every quarter as often done. This
can easily result in inventory cost savings in the millions of
dollars a year for multi-warehouse facility customers,” said CEO
Shaun Passley, Ph.D.
Interactive Systems, Inc.
Provides software that helps manage all aspects of warehouse
day-to-day operations including inventory management, e-commerce,
order processing, and supports handheld devices for warehouse
workers. The solution also features customized interfaces to
automation and a variety of material handling equipment.
InterlinkONE, Inc.
Provides warehouse management solutions for maintaining multiple
warehouses on different platforms and integrating them with
associated applications for ERP, ecommerce and finance, such as
WooCommerce, Salesforce, Zapier and QuickBooks.
The ZenaDrone IQ Nano is a 10x10-inch indoor drone designed to
perform regular and frequent inspections such as bar code or RFID
scanning in inventory management, facility maintenance inspections,
security monitoring, 3D indoor mapping and other applications
inside a warehouse, distribution, or plant facility. The IQ Nano is
designed for autonomous use featuring integrated sensors,
high-quality cameras, and data collection and analysis. Weighing
1.5kg and with a flight time of up to 20 minutes before utilizing
the automatic battery charging station, it is designed for hovering
stability and for safety with obstacle avoidance capabilities. View
video showing the IQ Nano in test flight here.
About ZenaTech
ZenaTech (Nasdaq: ZENA) (FSE: 49Q) is a technology company
specializing in AI drone solutions and enterprise SaaS solutions
for mission-critical business applications. Since 2017, the company
has leveraged its software development expertise and grown its
drone design and manufacturing capabilities through ZenaDrone, to
innovate and improve customer inspection, monitoring, safety,
security, compliance, and field service processes. With over 100
enterprise software customers using branded solutions in law
enforcement, government, and industrial sectors, and drones being
implemented in these plus agriculture, defense, and logistics
sectors, ZenaTech helps drive exceptional operational efficiencies
and cost savings. The company operates through six offices in North
America, Europe, and UAE, and a growing global partner network.
About ZenaDrone
ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and
manufactures autonomous business drone solutions that can
incorporate machine learning software, AI, predictive modeling, and
other software and hardware innovations. Created to revolutionize
the hemp farming sector, its specialization has evolved to
multifunctional drone solutions for industrial surveillance,
monitoring, inspection, tracking, and process automation
applications. Currently the Zenadrone 1000 drone is used for crop
management applications in agriculture and for critical field cargo
applications in the defense sector, and the IQ Nano indoor drone is
used for inventory management in the warehouse and logistics
sector.
This press release does not constitute an offer to sell or
the solicitation of an offer to buy any securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Contacts for more information:
Company, Investors and Media:Linda
MontgomeryZenaTech312-241-1415investors@zenatech.com
Investors:Michael MasonCORE IRinvestors@zenatech.com
Safe Harbor
This press release and related comments by management of
ZenaTech, Inc. include “forward-looking statements” within the
meaning of U.S. federal securities laws and applicable Canadian
securities laws. These forward-looking statements are subject to
the safe harbor provisions under the Private Securities Litigation
Reform Act of 1995. This forward-looking information relates to
future events or future performance of ZenaTech and reflects
management’s expectations and projections regarding ZenaTech’s
growth, results of operations, performance, and business prospects
and opportunities. Such forward-looking statements reflect
management’s current beliefs and are based on information currently
available to management. In some cases, forward-looking information
can be identified by terminology such as “may”, “will”, “should”,
“expect”, “plan”, “anticipate”, “aim”, “seek”, “is/are likely to”,
“believe”, “estimate”, “predict”, “potential”, “continue” or the
negative of these terms or other comparable terminology intended to
identify forward-looking statements. Forward-looking
information in this document includes, but is not limited to
ZenaTech’s expectations regarding its revenue, expenses,
production, operations, costs, cash flows, and future growth;
expectations with respect to future production costs and
capacity; ZenaTech's ability to deliver products to the market
as currently contemplated, including its drone products including
ZenaDrone 1000 and IQ Nano; ZenaTech’s anticipated cash needs
and it’s needs for additional financing; ZenaTech’s intention
to grow the business and its operations and execution
risk; expectations with respect to future operations and
costs; the volatility of stock prices and market conditions in
the industries in which ZenaTech operates; political,
economic, environmental, tax, security, and other risks associated
with operating in emerging markets; regulatory
risks; unfavorable publicity or consumer
perception; difficulty in forecasting industry
trends; the ability to hire key personnel; the
competitive conditions of the industry and the competitive and
business strategies of ZenaTech; ZenaTech’s expected business
objectives for the next twelve months; ZenaTech’s ability to
obtain additional funds through the sale of equity or debt
commitments; investment capital and market share; changes
in the target markets; market uncertainty; ability to
access additional capital, including through the listing of its
securities in various jurisdictions; management of growth
(plans and timing for expansion); patent
infringement; litigation; applicable laws, regulations,
and any amendments affecting the business of ZenaTech.
Forward-looking statements are based on certain assumptions and
analyses made by the management of ZenaTech in light of its
experience and understanding of historical trends and current
conditions and other factors management believes are appropriate to
consider, which are subject to risks and uncertainties. Although
ZenaTech’s management believes that the assumptions underlying
these statements are reasonable, they may prove to be incorrect,
and actual results may vary materially from the forward-looking
information presented. Given these risks and uncertainties
underlying the assumptions made, prospective purchasers of
ZenaTech’s securities should not place undue reliance on these
forward-looking statements.
Further, any forward-looking statement speaks only as of the
date on which such statement is made, and, except as required by
applicable law, ZenaTech undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made or to reflect the
occurrence of unanticipated events. New factors emerge from time to
time, and it is not possible for management to predict all such
factors and to assess in advance the impact of each such factor on
ZenaTech’s business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statement.
Potential investors should read this document with the
understanding that ZenaTech’s actual future results may be
materially different from what is currently anticipated.
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