(TheNewswire)
Toronto, ON – TheNewswire - March 24, 2022 - NTG Clarity Networks Inc.(TSXV:NCI); (OTC:NYWKF) ; NTG Clarityis pleased to announce a corporate update and that it has received tenpurchase orders (POs) from new and existing customers in the MiddleEast. Five of the POs are against previously announced FrameAgreements.
As of the publishing of this release, NTG has a backlogof $10.38 Million CAD of unbilled amounts in POs on hand to becompleted in 2022. This is in addition to already invoiced amounts inJanuary and February. This put us in a healthy position to continueour profitability going forward and contributes to the growth of ourorganization. Additionally, we are expecting to renew severalcontracts with major customers that are coming up for renewal withinthe next six months.
We have recently received the following POs:
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3 POs worth $577K CAD against the $3.5M, one-yearrenewable Framework Agreement announced January 11, 2022. These arefor outsource and offshore resources with a leading bank in the GulfRegion.
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A PO worth $235K CAD to provide annual product supportservices for our NTS software installed at a major telecom operator inthe Middle East.
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2 POs worth $132K CAD to provide technical resources toa multinational system integrator.
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2 POs worth $22K CAD to provide professional servicesto a new customer in the medical sector in the Middle East. The workstarts immediately and is expected to be completed in 2months.
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A PO worth $10K CAD to provide an offshore resource toan existing customer in the transportation sector. The work startsimmediately and is expected to be completed in 2 months.
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2 POs worth $29K CAD to provide professional servicesto an existing customer in the telecom sector in the Middle East. Thework starts immediately and is expected to be completed in 2months.
In response to these POs and the general increase in demand for ourservices, we continue to strengthen and expand our Egypt OffshoringCentre in order to position ourselves as a leading provider ofoffshore services across many different industry sectors.
In February 2022, we participated in Mobile World Congress (MWC) inBarcelona Spain. The conference gave us a chance to present ouroutsource and offshore services – as well as our previouslyannounced digital toolbox software product (NTGapps) – toprospective customers and channel partners. We are following up onthese opportunities and are looking forward to marketing NTG’sservices and products to a wider audience.
Our offerings are gaining a lot of recognition from our customers forbeing tier-1 and top quality while also being competitively priced.This recognition is translating into new business, and we are proudthat many of our new customers come from referrals and strongrecommendations from our existing customers who praise the quality ofour products and services.
Finally, we are on track to publish our audited 2021 financialstatements by the required deadline of May 2, 2022.
About NTG Clarity NetworksInc.
NTG Clarity Networks’ vision is to be a global leaderin providing networking solutions. As a Canadian company establishedin 1992, NTG Clarity has delivered networking, IT and network enabledapplication software solutions to network service providers and largeenterprises. More than 350 network professionals provide design,engineering, implementation, software development and securityexpertise to the industry’s leading network service providers andenterprises.
Forward Looking Information
Certain statements in this release, other thanstatements of historical fact, are forward looking information thatinvolves various risks and uncertainties. Such statements relating to,among other things, the prospects for the company to enhance operatingresults, are necessarily subject to risks and uncertainties, some ofwhich are significant in scope and nature.
These uncertainties may cause actual results to differfrom information contained herein. There can be no assurance that suchstatements will prove to be accurate. Actual results and future eventscould differ materially from those anticipated in such statements.These and all subsequent written and oral forward looking statementsare based on the estimates and opinions of the management on the datesthey are made and expressly qualified in their entirety by thisnotice. The Company assumes no obligation to update forward lookingstatements should circumstances or management's estimates or opinionschange.
The TSX Venture Exchange does not accept responsibilityfor the adequacy or accuracy of this release.
For Further Information:
Kristine Lewis, President, NTG Clarity NetworksInc.
Ph: 905-305-1325
Fax: 905-752-0469
Email: klewis@ntgclarity.com
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