Artificial intelligence and data are two of the faster-growing sectors at this point and it is perhaps not a surprise that investors are increasingly looking for options in those sectors. There are a number of listed companies that are involved in those sectors and one of those is Fobi AI Inc (TSX.V:FOBI) (OTCQB: FOBIF).
The stock is establishing a trading range after gaining approximately 60% in the past 3 months. On the TSX Venture Exchange in Canada, FOBI.V closed at C$0.38 on strong volume and in the US, the stock ended at $0.2883 on lighter volume.
The company is based out of Vancouver, Canada, and had been established back in 2017. The company provides artificial intelligence and data intelligence applications in real-time to businesses so as to bring in digital transformations. The company is a well-known data intelligence and tech firm in North America and Europe. It is also the biggest data aggregating firm in the tourism and hospitality industries in Canada.
The company had been in the news last week on April 11 when it announced that it had appointed David Nicholls as the new Vice President of Liquor Beverage. The company noted that the appointment of Nicholls was a major new addition to the senior management.
He would bring considerable credibility and industry-level experience to the role so that it is possible for Fobi AI to have a closer focus on its worldwide global liquor beverage strategy. Nicholls holds an experience of 15 years in advertising, leadership, and marketing at leading alcohol firms like Molson Coors and ABI among others.
Earlier in the month on April 5, the company announced that it had signed a new yearly North American licensing agreement with the firm ParcePal Logistics Inc.
As part of this licensing agreement, Fobi would provide its digital ID verification solution AtiD and its Wallet Pass platform. It is a one-year contract with provisions for auto-renewal and would bring in $55000 a year. Additionally, the company would earn $0.95 for each AtiD verification and $0.10 for each active pass per month.