Company Also Provides Update on Account Additions and Warrant Exercises
Toronto, Ontario--(Newsfile Corp. - November 25, 2020) - Killi Ltd. (TSXV: MYID) (OTCQB: MYIDF), a global leader in data and consumer privacy, announces the filing of the Financial Statements and Management Discussion and Analysis (MD&A) for the three and nine-month period ending September 30, 2020.
"The third quarter was the first period where our sole focus was the Killi platform. Our product has transitioned from a predominantly 'active' earning environment for our users to one that is passive, allowing our users to 'set it and forget it' and make money from the sale of their data," commented Killi Founder and CEO Neil Sweeney, "We also continued with the scaling of our account and user base which we believe will result in new and recurring revenue streams in the future, while also completing several corporate initiatives including the upgrading of our stock listing in the US to the OTCQB, and the strengthening of our balance sheet with a significant number of warrant holders exercising their warrants early. We continue to make great progress on achieving the Company's goal of being the global leader in consumer privacy. We look forward to updating shareholders on our progress in early December."
Account Additions, Launch of the Killi Paycheck and Warrant Exercise Update
As of this news release date, the Company has added a further 25 million accounts to the Killi backlog via a new partnership that the company will look to process through its proprietary consent framework over the coming quarters. These account additions bring the total available accounts inside of Killi to approximately 55 million across the five countries it serves. For more clarity regarding accounts, once an account has been created inside of Killi, the Company then contacts each one directly, notifying them, and encouraging them to opt into other income-earning opportunities. Upon opting-in, the Company then recognizes such accounts as "active users," and the account owners can then receive the Killi Paycheck, a weekly guaranteed payment based on the total data that each consumer chooses to share. The Killi Paycheck is the only program in the world that pays users a weekly guaranteed payment for the use of their data, often referred to as Universal Basic Income or a Data DividendTM.
With stricter privacy regulations sweeping the globe, specifically, the passing of CPRA in California on November 4th; a more stringent privacy policy that builds on its predecessor the California Consumer Privacy Act (CCPA), as well as the introduction in Canada of the Canadian Personal Privacy Act (CPPA), the movement to place the consumer at the heart of privacy and data collection continues to grow around the world. This is the thesis that Killi has been building since its launch two years ago, not coincidentally on the first day that GDPR, the privacy policy that governs Europe, was implemented. The result of this move towards compliant consented consumer data has had an impact amongst Fortune 500 brands, agencies, and platforms to increasingly look to replace current data partners with data that has a clear line of compliance with the consumer. This shift represents a positive catalyst for the growth of Killi as well as for increased payments to consumers in the future.
In addition to the account additions, the Company's balance sheet remains strong after receiving total proceeds of just over $1.6 million from the exercise of 32 million common share purchase warrants. The Company would like to remind warrant holders of the accelerated expiry date as per the press release dated November 9, 2020.
Filing of Financial Statements and Shareholder Call
The Company has filed the interim unaudited condensed Consolidated Financial Statements and MD&A for the three and nine months ended September 30, 2020, on SEDAR at www.sedar.com.
As the Company has done in recent quarters, an investor call in early December will be scheduled to discuss the outlook for the operations of the Company as well as answer any specific questions from shareholders.
Option Grant
The Company also announces that it has granted stock options to an officer of the Company to purchase up to an aggregate of 200,000 common shares (the "Options") under the Company's stock option plan. The Options will vest over three years and will be exercisable for five years from the date of grant at an exercise price of $0.125 per share. The Options grant is subject to the approval of the TSX Venture Exchange (the "TSXV").
About Killi
Killi is a consumer privacy ecosystem that allows consumers to take back control of their consumer data from those who have been collecting it and selling it unbeknownst to them.
Killi is currently available online or via iOS or Android in five countries (US, Canada, Singapore, Australia, and New Zealand). Killi pays users automatically every week a Paycheck for the use of their data, making Killi the only company in the world paying consumers guaranteed cash weekly for the use of their data.
Killi is also the creator of uaretheproduct.io, a consumer-facing website that allows consumers to determine their data's value as sold by large technology platforms. To determine the value of your data visit uaretheproduct.io and select the platforms that you currently use.
To learn more about the Killi Paycheck and its Fair-Trade DataTM program, please visit https://killi.io/earn.
Download Killi here.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Elinesky, CFO
+1-416-904-2725
Neither the TSXV nor its Regulation Services Provider (as defined in the TSXV Manual) accept responsibility for this news release's adequacy or accuracy.
Forward-Looking and Other Cautionary Statements
the Company's plans to scale its business; the addition of new revenue streams; the Company's listing on the OTCQB and the effects thereof; the addition of new accounts to the Killi ecosystem and the potential impact of the same on Killi's business; the purchasing of the data offered by Killi by other companies; Killi's revenue stream; the implementation of stricter data regulations across the globe and the impact on Killi's business; the grant of the Options and TSXV approval of the same; and, the Company's strategic plans for the rest of 2020. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management. They are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to: that owners of the data may opt to have their data excluded from the Killi ecosystem; the Company may not be successful in acquiring data and adding accounts to the Killi ecosystem; changes to privacy regulations may limit Killi's ability to monetize the data; companies may not continue to purchase data from Killi; Killi may not be able to monetize the data or successfully use the data for emails to MAID or for audience segment purchases; the Company may not be able to broaden its exposure to the US investment community; the Company may not be able to scale its business; the Company may not become the global leader in consumer privacy; the Company may not be successful in obtaining opt-in from the new accounts and add new users to the Killi ecosystem; the Company may not introduce any new products or features; the TSXV may not approve the grant of the Options; the ability of the Company to implement its growth strategy; the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company's operations and economic activity in general; and the risks and uncertainties discussed in our most recent annual and quarterly reports filed with the Canadian securities regulators and available on the Company's profile on SEDAR at www.sedar.com, which risks and uncertainties are incorporated herein by reference. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company does not intend and undertakes no obligation to update any forward-looking statements to reflect, in particular, new information or future events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68932
