Toronto, Ontario--(Newsfile Corp. - April 13, 2022) - RIWI Corp. (TSXV: RIWI) (OTC Pink: RWCRF) (the "Company" or "RIWI"), a global trend-tracking and prediction technology firm, reported its financial results for the year ended December 31, 2021. All figures are reported in U.S. dollars unless otherwise indicated. RIWI's financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS").
RIWI Highlights (in U.S. Dollars):
Financial Summary (in U.S. Dollars):
2021 | 2020 | |
Revenues | $4,135,701 | $4,580,738 |
Income before taxes | (627,149) | 927,115 |
Income tax (expense)/recovery | 86,581 | (270,581) |
Net income and comprehensive income | (540,568) | 656,534 |
"2021 was a transformative year for RIWI," said Greg Wong, RIWI's Chief Executive Officer. "We built a new leadership team, including a new CEO and CFO; we conducted a holistic business review that resulted in a new and focused recurring revenue business strategy; and we invested in developing our first subscription-based products in RIWI Alpha and the Compass Series of Indexes. The work we did in 2021 has given us a clear direction in 2022 and we expect that once we put the pieces in place to fully execute our strategy by the third quarter of this year, RIWI will enjoy a robust and healthy recurring revenue stream to build on every year," added Mr. Wong.
Business Strategy Update
RIWI's vision is to be the most trusted and transparent source of global data. As such, RIWI has embarked on a journey to evolve from a global survey company to a global data company that will leverage its unique, patented Random Domain Intercept Technology (RDIT) and other technologies to provide customers with their essential data needs. To support this evolution, RIWI has been developing more subscription-based products, such as the Compass Series of Indexes, which focuses on geopolitical risk, and RIWI Alpha-China, which provides data streams on trends in consumer purchase behaviour for luxury goods and electric vehicles in China.
RIWI Appoints Natasha Hsi as Vice President and General Manager of International Development
RIWI hired Ms. Natasha Hsi as Vice President and General Manager of the Company's International Development practice. Ms. Hsi will join the leadership team at RIWI to support the Company's global growth. The role of the General Manager is to lead the practice with a hands-on approach and drive sales, new product development and go-to market strategy for the growing practice area.
Ms. Hsi brings over 20 years of International Development and public health sector experience to RIWI, most recently as the Head of Business Development at International Initiative for Impact Evaluation, Inc. (3ie) based in Washington, DC. Throughout her career, Natasha has successfully led and won sales opportunities and managed teams on many contracts with deal sizes ranging from $10-$35 million, funded by the U.S. government, multi-lateral agencies, and private foundations. The hiring of Ms. Hsi was the result of an international search supported by Oxford HR. "I am thrilled to be joining RIWI at this critical time when it is more important than ever to understand and base decisions on timely and accurate sentiment data in the world," said Natasha Hsi.
"The entire RIWI team is excited to work with Natasha and to learn from her experience," said Greg Wong, CEO of RIWI. "Under Natasha's leadership, I have no doubt that both our International Development practice and RIWI as a whole will enter a rejuvenated phase of accelerated growth."
RIWI's audited annual Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2021 are available via RIWI's website at https://riwi.com and on SEDAR at www.sedar.com.
About RIWI
RIWI is a global trend-tracking and prediction technology firm. On a monthly or annual subscription basis, RIWI offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries - without collecting any personally identifiable data. https://riwi.com
RIWI CORP.
Signed: "Greg Wong"
Greg Wong, Chief Executive Officer
For more information, please contact [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION:
Information and statements contained in this news release that are not historical facts are "forward-looking information" within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and RIWI does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Company's expectations or beliefs regarding future events. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.
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