nDatalyze to focus on revenues and Reference Database expansion – May 10, 2024

NEWS RELEASE

 

nDatalyze Corp. (“NDAT” or the “Corporation”) (CSE:NDAT) (OTC:NDATF) to focus on revenues and Reference Database expansion.

 

Calgary, Alberta – May 10, 2024

For Immediate Release – nDatalyze Corp. (“NDAT” or the “Corporation”) (CSE:NDAT) (OTC:NDATF) ) wishes to announce that, after careful consideration, it has decided to conclude its collaboration with the Canadian Mental Health Association (CMHA), effective immediately. Despite initial plans being in place for some time, unforeseen administrative delays at CMHA have unfortunately prevented the commencement of the study and the Corporation has determined that the projected timeline for the study’s completion is no longer feasible. It’s important to note that no data exchange occurred, and NDAT did not incur any expenses related to the CMHA as the study had not yet begun. The allocated funds for this study will be redirected to our general working capital account while the Corporation explores database expansion with a US institution that will align with our recent acquisition of MindBalanced Inc. and its US operations. The clinical study conducted in collaboration with York University, focusing on DNA integration into the YMI Reference Database, continues.

James Durward, CEO/CTO states: “It’s very important that we focus on two things going forward: revenue growth through our Mindbalanced subsidiary, and the continued expansion our purpose-specific proprietary Reference Database. While large language models like ChatGPT are very effective for general purpose tasks, they’re trained on very noisy, internet-based data, and this can lead to poor quality results when dealing with complex technical issues. As famed computer scientist Peter Norvig states “More data beats better algorithms, but better data beats more data”, and this reflects our opinion that clean, consistent data is key to high-quality results. This is why we built our Reference Database in the first place.”

An informative article about the value of quality databases can be seen at Why proprietary data is the linchpin of AI Disruption.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

James Durward, CEO&CTO

Email: [email protected]

nDatalyze Website: www.ndatalyze.com

YMI Website: ymihealth.ca

 

ABOUT MINDBALANCED INC.:

Mindbalanced’s vision is to redefine mental healthcare through an integrative, personalized approach leveraging cutting edge technology and non-invasive treatment protocols. By harnessing evidence-based data we aim to predict and enhance mental wellbeing, taking into account individual predispositions and environmental factors thereby fostering healthier and more fulfilling lives for all.

 

ABOUT YMI:

YMI uses evidence-based, objective data from whole life experiences to predict individual mental states over time and applies this knowledge towards a fuller understanding of how mental health develops, and how to improve mental wellbeing. YMI combines supervised machine-learning with a proprietary Reference Database to predict an individual’s predisposition toward a variety of common mental conditions, both current and forward in time. YMI is poised to revolutionize mental health diagnoses while ensuring a sustainable revenue stream. By strategically addressing the causes of misdiagnosis, establishing credibility through clinical studies, and targeting key markets, YMI aligns both societal impact and financial success.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.