BROSSARD, QUEBEC -- (Marketwired) -- 07/09/13 -- DIAGNOS inc. ("DIAGNOS", "We" or "the Corporation") (TSX VENTURE: ADK), a leader in the use of artificial intelligence and advanced knowledge-extraction techniques, announces sales bookings of $2.610M for the first quarter of fiscal year 2014 ended June 30, 2013.
First quarter was filled with positive events that drove the signing of four contracts in our natural resources (CARDS) division. Majority of revenues from these bookings will be recognized over the period in which the services are rendered. The services are scheduled to be rendered during the quarters ending September 30, 2013 and December 31, 2013.
Since 2006, DIAGNOS demonstrated the efficacy of his proprietary Computer Aided Resource Detection System (CARDS) for base metals, precious metals and kimberlites projects. Several clients have validated our targets with success such as:
-- Puma Exploration discovered new copper targets in February of 2013 (up to 6.9% cu) in the region south of Turgeon Cu-Zn deposit, in the province of New Brunswick,-- Creso Exploration discovered, within 10 days of exploration work in September 2011, gold sample assays up to 20.1 g/t, on targets identified by DIAGNOS CARDS technology in Ontario,-- Metanor Resources discovered, within only six days of exploration work in November 2010, impressive results of gold in a new undiscovered zone located 2km west of Bachelor mine in the region of Abitibi, Quebec,-- Spider Resources and KWG Resources discovered new kimberlite in June 2010 in the Ring of fire in Ontario, and,-- Ste-Genevieve Haiti (SGH) found impressive results of copper (between 6.21% and 9.51% cu) and gold (42.7 g/t) in Haiti in February 2008 and in October 2007.
Also, worth mentioning, CODELCO (the world's largest copper producer) has signed a second service agreement in September 2012 for the use of CARDS in Chile. In March 2013 DIAGNOS sold its first royalty agreement to Everton Resources (Everton) for 2,000,000 shares of Everton and 500,000 stock options of Everton.
CARDS is a state of the art computer system that uses the latest Artificial Intelligence and pattern recognition algorithms to analyze very large digital data sets to identify new potential resource targets. CARDS can be applied to several sectors of prospecting, such as diamond, gold, zinc, copper, Graphite, PGM and others.
In DIAGNOS healthcare division, our contract with Novartis UAE is well on track with several thousand patients screened across the United Arab Emirates in collaboration with over a dozen healthcare providers. Business development efforts continue in the Middle East with the aim of further expansion for the program. The CARA (Computer Aided Retinal Analysis) suite of applications allows the different participants in the diabetic retinopathy screening process to make better informed decisions and extend cost-effective care to a larger patient population. "During the first quarter of fiscal year 2014 DIAGNOS' Healthcare business unit focused on continued business development efforts internationally, including development of relationships with prospective clients, governments, NGOs, as well as presence at various medical conferences and events driving awareness of our platform and programs. We have also continued refining the CARA technology platform including continued improvement and testing of algorithms, completion of a new multilingual web site and launched of Spanish and Vietnamese screening interfaces. We also continue to execute our international regulatory strategy. These efforts resulted in greater product awareness among targeted audiences, along with continued growth of a robust sales pipeline which our sales team is actively working on to materialize into sales", said Peter Nowacki, DIAGNOS' Vice-President, Healthcare.
Founded in 1998, DIAGNOS is a publicly traded Canadian corporation (TSX VENTURE: ADK), with a mission to commercialize technologies combining contextual imaging and traditional data mining thereby improving decision making processes. DIAGNOS offers products, services, and solutions to clients in a variety of fields including healthcare, natural resources, and entertainment.
This document contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please visit our website at www.diagnos.com or the SEDAR website at www.sedar.com.
Andre Larente, President
Bid Capital Markets