AI/ML Innovations Inc. (formerly AIML Resources Inc.)
Climate Impact & Sustainability Data (2019-05-01 to 2020-04-30, 2021)
Reporting Period: 2019-05-01 to 2020-04-30
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- The Company has not generated any revenues and has negative cash flow from operations during the year ended April 30, 2020. As at April 30, 2020, the Company has a working capital deficit of $1,962,295 and an accumulated deficit of $24,800,701. The continued operations of the Company are dependent on its ability to generate future cash flows or obtain additional financing.
Mitigation Strategies
- Management is of the opinion that it has sufficient working capital to meet the Company’s liabilities and commitments as they become due, although there is a risk that additional financing may be required but will not be available on a timely basis or on terms acceptable to the Company.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2021
Environmental Metrics
Social Achievements
- Successful proof of concept deployment and findings for a study funded by The Bill and Melinda Gates Foundation on a research project to study ways to reduce pregnancy complications and mortality, by making healthcare more accessible using wearable solutions.
Climate Goals & Targets
Medium-term Goals:
- Develop next stage AI/ML platform assets using the University of Alberta AI-Hub Supercomputer system (6-12 months)
- Expand market & business development resources and processes to address USA market; and to create operation scaling capability (6-12 months)
Short-term Goals:
- Refine features and increase application identification modelling and refine biometrics digital processing and analysis with preliminary beta testing (0-6 months)
- Update user interface design and market testing with existing pilot clients (0-6 months)
Environmental Challenges
- Limited revenues, making continuing operations dependent on securing financing for product development, marketing, and ultimately, sustained revenue generation.
Mitigation Strategies
- Seeking additional funding for project development, while remaining cautious about potential economic downturns impacting the digital healthcare industry.