Toronto, Ontario--(Newsfile Corp. - February 3, 2025) - AnalytixInsight Inc. (TSXV: ALY) (OTCQB: ATIXF) ("AnalytixInsight", or the "Company") is pleased to announce that the board appointed Glenn Goucher and Richard Greco to the board of directors. During the fiscal year ended 2024, two board member resignations resulted in vacancies on the board of directors. Richard Greco is returning to the board of directors having served as an independent director of the Company from 2014-2016 and also being a co-founder of Marketwall Srl, AnalytixInsight's portfolio business in Italy.
Mr. Greco is an American businessman, educator, former United States Government official, and long-standing trustee of educational, cultural, and civic institutions. In 2004, Mr. Greco was appointed by President George W. Bush and confirmed by the United States Senate as the nation's 19th Assistant Secretary of the Navy (Financial Management and Comptroller). In this role, he was the chief financial officer of the Department of the Navy, responsible for an annual budget of more than $130 billion. Richard Greco is currently the president and chairman of the Board of The Montfort Academy, a highly ranked, not-for-profit classical curriculum Catholic high school he founded in the Archdiocese of New York.
Mr. Greco was conferred Knighthood of the Italian Republic and is the recipient of the Ellis Island Medal of Honor. Mr. Greco holds an M.B.A. in finance from The University of Chicago, an M.A. in American Foreign Policy from The Johns Hopkins University, and a B.S. in Chemistry from Fordham University.
The Company is also pleased to welcome Glenn Goucher to its board of directors. Glenn was most recently President of CDS and CDCC, fully owned subsidiaries of the TMX Group that are responsible for clearing, settlement and depository functions for the Canadian cash and derivatives markets. He is a globally recognized expert in market infrastructure who has been at the forefront of the evolution of post trade in the post credit crisis environment. Prior to these roles, he led the Montreal Exchange derivative market business development and operations functions.
Before joining the TMX Group, Glenn managed business development activities for a major Canadian bank with a focus on Exchange traded derivatives, and he was a portfolio manager at a provincial pension plan responsible for fixed income and derivative investments. Glenn is an engineer, with an MBA who has also completed his CFA.
"We are thrilled to welcome both Richard Greco and Glenn Goucher to the Board of Directors of AnalytixInsight and we look forward to their contributions as we build a stronger, technology-driven future for our company and stakeholders," said Natalie Hirsch, Interim President & CEO.
AnalytixInsight would also like to announce that it has cancelled 725,000 outstanding stock options (the "Options") that were issued due to an administrative error, and which are not in compliance with the Company's option plan (the "Plan"). On May 1, 2023, the Company issued 200,000 Options that did not include a valid vesting schedule so the participant had no ability to exercise those Options. On March 11, 2024, the Company issued 925,000 Options, of which 400,000 Options have since been cancelled, at an exercise price of $0.085. However, the Plan stipulates that the minimum exercise price for Options must not be below $0.10. The Company recognizes that in both issuances the Options were granted due to administrative error, and not at the fault of the participants. The Company is pleased to announce the issuance of 725,000 restricted share units ("RSUs") to replace the Options that were issued due to an administrative error to the Chief Executive Officer, Chief Financial Officer and an advisor in recognition of the dedication that these key members have provided to the Company. The RSUs will vest twelve months from the date of issuance.
ABOUT ANALYTIXINSIGHT
AnalytixInsight is a data analytics and enterprise software solutions provider. AnalytixInsight develops and markets cloud-based platforms providing financial content, company analysis and stock research solutions to the financial services industry. AnalytixInsight holds a 49% interest in MarketWall S.R.L., a developer of fintech solutions for financial institutions in Italy.
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.
Certain statements contained in this news release constitute "forward-looking information" within the meaning of applicable securities laws and the respective policies, regulations and rules under such laws ("forward-looking statements"). These forward-looking statements generally are identified by words such as "anticipate", "expect", "intend", "will" and similar expressions, although not all forward-looking statements contain these identifying words. Specific forward-looking statements in this news release include, but are not limited to, the cancellation of Options and grant of RSUs to certain individuals. Although the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this news release including, without limitation, general business, economic, competitive, geopolitical and social uncertainties; the Company's technology and revenue generation; risks associated with operation in the technology sector; the Company's ability to successfully develop a go-forward strategy, raise capital, and extract value from MarketWall; foreign operations risks; the risk that funding options are not available to the Company, on reasonable terms or at all, to address its funding needs; the receipt of necessary regulatory, court, and corporate approvals to pursue funding options; the risk that the previously disclosed court-ordered inspector may uncover unexpected issues and/or the investigation may not be completed in a timely manner or at all, the risk that the issues to be addressed by the previously disclosed interim orders and the court-ordered inspector are not resolved in a timely manner or at all, and other risks inherent in the technology industry. Additionally, there are uncertainties inherent in forward-looking information, including factors beyond the Company's control. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary note. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
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