NEW YORK, Dec. 29, 2023 /PRNewswire/ — FatBrain AI (LZG International, Inc., OTCMKTS: LZGI) (the “Company,” or “we”), the leader in powerful and easy-to-use AI solutions for enterprise stars of tomorrow, today provides an update for shareholders.
FatBrain AI is an AI-driven SAAS company (OTCMKTS: LZGI), co-founded by serial entrepreneur, Peter B. Ritz, and executive chaired by Michael T. Moe, founder of GSV and private investor in leading companies such as Meta, Twitter, Spotify, Coursera and Palantir.
The company has engaged Grassi & Co, associated with Moore Global Network Limited as the Company’s certifying accountant. They are tasked with completing the FY2023 corporate audit and bringing the financial filings current as soon as possible. The Moore Global Network is the 11th largest accountancy network in the world supported by 34,000 experts across 112 countries. The firm is well equipped to handle a multi-national business like FatBrain AI.
During the calendar first half of 2023 the company achieved nearly $30 million (unaudited) in revenue, including a single, multi-year $21.5 million deal with a ministry of digital transformation in Eurasia. During the second half of the calendar year growth accelerated, less this single deal, to project approximately $17 million (unaudited). FatBrain continues to deliver peer intelligence and hierarchical insights to connect the Government, Fortune 500, and SMEs with a variety of sector specific SaaS solutions, including working with a top ten global oil producer as a customer. The growth trajectory should continue moving forward. The company anticipates the first three months of calendar 2024 will generate approximately $10 million in revenue.
In addition to the recent partnership with Genius Group Limited (NYSE American: GNS), the company is in discussions with several other leading AI enterprises to pursue strategic growth and looks forward to sharing the outcome of these discussions shortly.
“While becoming current and getting relisted are our key priorities, FatBrain AI continues to gain traction with customers, to grow revenues and cash flow,” said Peter B. Ritz, co-founder and CEO of FatBrain AI. “We are confident that in 2024 we will deliver the communication flow and financial metrics demanded by our stakeholders and be recognized as a leader in the bourgeoning AI industry,” added Michael T. Moe, executive Chair of FatBrain AI.
About FatBrain AI (LZG International, Inc., OTCMKTS:LZGI)
FatBrain AI provides powerful and easy-to-use AI solutions to empower the enterprise stars of tomorrow to grow, innovate, and drive the majority of the global economy. FatBrain’s AI 2.0 technologies and advanced data services transform continuous learning, narrative reasoning, large language models, and cloud and blockchain technologies into auditable, explainable and easy to integrate AI solutions. FatBrain’s subscriptions allow all companies to deploy its advanced AI solutions quickly, easily, and securely behind their firewalls or via cloud. FatBrain’s global delivery includes 600+ team across design, development centers in the US, UK, India, and Kazakh Republic.
For more information, please visit: https://www.fatbrain.ai
Forward Looking Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on September 13, 2022. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All forecasts provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are based entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Contact
Brokers and Analysts:
Chesapeake Group
410-825-3930
[email protected]
SOURCE LZG International, Inc.
