2018

Posera Announces the Appointment of Tom McCole as Chairman of the Board

TORONTO, ONTARIO — October 11, 2018 — Posera Ltd. (TSX: PAY) (“Posera” or the “Company”), a global provider of hospitality software and payment solutions, announced that effective today, Mr. Tom McCole has been appointed Chairman of the Board of Directors.

Mr. McCole has extensive industry experience including: mergers & acquisition, software development, payment gateways, merchant acquiring, retail/restaurant mobile POS, and aisle retail omni-commerce. Previously, as Director of Strategy and Partnerships reporting directly to the CEO of Heartland Payments, Mr. McCole was responsible for developing the restaurant management software acquisition rollup strategy for Heartland that led to Heartland’s acquisition of several notable hospitality point-of-sale systems such as Xpient, Digital Dining, PC America and Dinerware, and that eventually led to the sale of Heartland to Global Payment Systems for $4.3 billion USD in 2016. Numerous other merchant acquirers, private equity firms, and large merchant services providers have successfully emulated the Heartland point-of-sale system rollup strategy.

Mr. McCole is the President of POSophist Inc., a POS and payments technology go-to-market business development and strategy advisor in the United States, Canada, and Asia. Formerly, Mr. McCole was VP of Gateway Services for Hypercom (acquired by Verifone in the United States and Ingenico in Europe), VP of Mobile Payments for Transaction Network Services’ EVP for NBS (now known as Equinox – a Brookfield company), and the founder and CEO of Atomic Software (a payment software and gateway service which was ultimately acquired by Verifone).
Mr. McCole has been an independent director on Posera’s Board since January 2017. During that time Mr. McCole has provided access to many senior industry executives in the industry in addition to guidance and support to Posera’s management team in its effort to build and launch SecureTablePay in the US. Mr. McCole was also the Board member on the Posera team that led the successful divestment of the FingerPrints business.
Mr. McCole replaces Mr. Edwin Nordholm who had been appointed Interim Chairman in May 2018.
More information about Posera can be found on the company’s website at www.posera.com or under the company’s profile on SEDAR at www.sedar.com.

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About Posera
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the business operations, kitchen management, and payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 28th, 2018 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

Kevin Mills, Chief Financial Officer
Posera Ltd.
519.434.8017
ir@posera.com

AppSuite and Posera Announce a Partnership to Provide Comprehensive Cloud- Reporting Software for the Hospitality Industry

FONTANA, WISCONSIN and TORONTO, ONTARIO — Sept 20, 2018 — Posera Ltd. (TSX: PAY) (“Posera” or the “Company”), a global provider of hospitality point-of-sale (POS) software solution, Maitre’D, and AppSuite LLC, a leader in CRM solutions, have collaborated to bring to market a comprehensive hospitality business operations management and web-reporting software called DataBoard – Advanced Reporting.

The cross-platform solution securely brings the full breadth of Posera’s Maitre’D DataBoard reporting platform, formerly only available from within the Maitre’D branded console, to the cloud. DataBoard –Advanced Reporting allows for real-time alerts and extensive, multi-level reporting, from the POS, directly to a customer’s desktop or mobile devices.

“We’re very excited to announce the integration of a cloud-based, above-store, management solution,”said Dan Poirier, Chief Executive Officer at Posera. “Maitre’D DataBoard pairs perfectly with AppSuite’sfull-featured, current-day web-reporting services.”

With DataBoard – Advanced Reporting, merchants across the hospitality industry spectrum can access current-day business monitoring tools and reports that provide them with all the critical business performance metrics that ultimately impact profitability.

DataBoard – Advanced Reporting capabilities include: on demand and scheduled email reports, interactive data charting, multi-format data extracts, and multi-level sales reports – all accessible seamlessly on a desktop and on mobile devices such as phones or tablets.

“The new DataBoard – Advanced Reporting management solution is a testament to the strength of the combined industry experience, technology leadership, customer-focused solutions we have established between Posera and AppSuite,” said James Daleen, Chief Executive Office at AppSuite. “We are very proud to introduce this new cloud-based management solution to the market. This system is a perfectcomplement to our Cloud CRM and Ordering solution that is fully integrated to the Maitre’D POS. The newsolution provides dynamic reporting and analytics that the market is looking for in an easy to use responsive cloud application.”

DataBoard – Advanced Reporting is now available as a subscription service to all existing Maitre’Dcustomers, as well as a feature-rich add-on to current Maitre’D DataBoard users. This cloud-based application will be a powerful tool for restauranteurs, allowing them to proactively oversee and run restaurant operations in real-time, on-site and/or remotely.

Restaurant merchants interested in this new software solution can contact Posera at 1 800 465 2400, or sales@posera.com.

More information about Posera can be found on the company’s website at www.posera.com or under the company’s profile on SEDAR at www.sedar.com.

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About AppSuite

AppSuite LLC was founded in 2010 and lead by its CEO, James Daleen with a 25-year track record of success building and operating both public and private technology companies. The company serves the food and beverage and hospitality industries worldwide and is committed to providing customers unparalleled value through its comprehensive portfolio of solutions including: customer intelligence, mobile apps, 1-1 marketing, rewards, loyalty, gift, online ordering, as well as delivery and driver management.

James Daleen, Chief Executive Officer AppSuite LLC
561.208-6406 ext. 101
Learn more at www.appsuitecrm.com

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the business operations, kitchen management, and payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application;Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standaloneproduct. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Kevin Mills, Chief Financial Officer
Posera Ltd.
519.434.8017
ir@posera.com

Posera Announces Second Quarter 2018 Financial Results

Toronto, ON – August 14th, 2018 – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of hospitality software and payment solutions, today announced its financial results for the three and six months ended and June 30th, 2018.

During the three months ended June 30, 2018, Posera reported total revenues of $2.4 million compared to total revenues of $2.7 million in the prior quarter. Year-to-date, for the six months ended June 30, 2018, total revenues increased 0.1% to $5.1 million when compared to the six months ended June 30, 2017.

The Company is pleased to report growth of 6.9% in its recurring revenues for the first six months of fiscal 2018, to over $1.4 million, compared to the first six months of fiscal 2017. The Company’s gross profit percentage, was relatively flat at 41%, compared to 42% in the same period in 2018, notwithstanding the growth in the Kitchen Display Systems (KDS) business, which typically has lower margins as it is more hardware intensive. Management continues to be encouraged in the growth of the KDS product line, particularly in growth of KDS sales to non-Maitre’D customers, with sales of 248 KDS units in Q2 2018, a growth of 28% over the same period last year.

Normalized EBITDA improved by 6% between the consecutive quarters, to a loss of $0.5 million, as result of lower costs of inventory and lower operating expenses. Posera recognized a net loss from continuing operations² for the three months ended June 30, 2018 of $0.9 million, an improvement of 2% from the three months ended March 31, 2018.

  1. Total Revenue excludes the discontinued operations for the FingerPrints transaction as previously discussed on Page #4 of the Company’s Management Discussion and Analysis (MD&A) for the three and six-months ended June 30, 2018.
  2. Normalized EBITDA adjusted to exclude discontinued operations: Posera’s management defines Normalized EBITDA adjusted for discontinued operations as EBITDA adjusted for discontinued operations above less certain one-time non-recurring expenditures, and non-cash stock-based compensation expense.

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Quarterly Highlights

  • Total revenues¹ for the three-months ended June 30, 2018 was $2,352,937 compared to $2,954,903 for the three months ended June 30, 2017 and compared to $2,742,337 for the three months ended March 31, 2018;
  • Total revenues¹ for the six months ended June 30, 2018 was $5,095,274 compared $5,088,415 for the six months ended June 30, 2017;
  • Recurring revenues¹ for the three months ended June 30, 2018 were $735,423, an increase of 8% compared to $680,852 for the three months ended June 30, 2017, and an increase of 9% compared to $675,559 for the three months ended March 31, 2018;
  • Net loss² for the three months ended June 30, 2018 was a loss of $902,438, a 2.4% improvement compared to $924,709 for the three months ended June 30, 2017, and a 1.6% improvement compared to $917,082 for the three months ended March 31, 2018;
  • Normalized EBITDA² loss for the three months ended June 30, 2018 was a loss of $512,181, compared to a positive normalized EBITDA of $102,832 for the three months ended June 30, 2017, and compared to a normalized EBITDA loss of $547,177 for the three months ended March 31, 2018; and
  • Normalized EBITDA² loss for the six months ended June 30, 2018 was a loss of $1,059,358, compared to a normalized EBITDA loss of $754,888 for the six months ended June 30, 2017.
  1. Amount presented applies the retrospective presentation for discontinued operations for the FingerPrints transaction as discussed in the Company’s MD&A on Page #4 for the three and six-months ended June 30, 2018.
  2. Presentation of these amounts include the results from discontinued operations as discussed on Page #4 of the Company’s MD&A for the three and six-months ended June 30, 2018.

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: Maitre’D®, a point of sale system which offers a robust and
comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; KDS, a Kitchen Display System that is now available as a standalone product; and SecureTablePay®, an EMV compliant pay-at-the-table application.
Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 28th, 2018 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

For more information:
Kevin Mills, Chief Financial Officer
1.519.434.8017
ir@posera.com

www.posera.com

Posera Announces Annual Meeting Results

Toronto – June 26th, 2018 – (TSX : PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, is pleased to announce the results of the Company’s 2018 annual meeting of shareholders (the “Meeting”) held in Toronto, Ontario on June 25, 2018. Posera is listed on the TSX under the symbol “PAY”.

At the Meeting, all director nominees listed in the Company’s management information circular dated May 24th, 2018 were elected as directors of the Company. The detailed results of the vote by ballot are as follows:

In addition, at the Meeting, shareholders reappointed PricewaterhouseCoopers LLP, as auditors of the Company.

The Company also has posted the presentation from the annual meeting of shareholders on its Company website www.posera.com in the Investor Relations section.

The formal report of voting results with respect to all matters voted upon at the Meeting was filed on SEDAR at www.sedar.com.

 

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s  full  service  solutions  include:  SecureTablePay®,  an EMV  compliant  pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

 

Forward-Looking Statements

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 28th, 2018 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For more information:

Kevin Mills, Chief Financial Officer

1.519.434.8017

kmills@posera.com

www.posera.com

Shift4 Payments and Posera Announce Merchant Services Solution for Restaurants

The Integrated Payment Solution Will Provide Added Value for Restaurateurs

ALLENTOWN, Pa. and TORONTO – June 21, 2018– Shift4 Payments, the leader in secure payment processing solutions, and Posera Ltd. (TSX:PAY), a leading provider of software solutions for the hospitality industry, today announced they have expanded their EMV-certified integration to include a full merchant services offering. This integrated payment solution now provides Posera customers with everything they need to process fast, reliable and secure payments, all for the lowest total cost.

Shift4’s complete payment solution is integrated into Posera’s full-featured Maitre’D point-of-sale solution to provide users with a secure payment gateway, P2PE-enabled EMV devices and full merchant services. This all-in-one solution combines all the pieces of the payment process into a single, all-inclusive program for a superior payment experience.

“We are very proud to partner with Posera to deliver our complete payment solution to their customers,” said Jared Isaacman, CEO of Shift4 Payments. “Maitre’D users can now benefit from a fully integrated payment solution that delivers superior security, reliability, speed and functionality while reducing total costs and streamlining the payments process.”

“Our integration with Shift4 Payments already allows us to offer our merchant customers the most advanced and secure payment technologies,” said Dan Poirier, CEO of Posera Ltd. “The addition of the merchant services program now makes it possible to reduce their costs even further while enjoying many new benefits.”

Restaurant operators interested in this new solution can contact Shift4 Payments at 800.265.5795 or sales@shift4.com.

More information about Posera can be found on the company’s website at posera.com or under the company’s profile on SEDAR at sedar.com.

About Shift4 Payments

Shift4 Payments is the leader in secure payment processing solutions, powering the top point-of-sale and software providers across numerous verticals, including Food & Beverage, Hospitality, Lodging, Gaming, Retail, and e-Commerce. This includes the company’s Harbortouch, Restaurant Manager, POSitouch, and Future POS brands, as well as over 300 additional software integrations in virtually every industry. With eight offices across the U.S. and Europe, 7,000 sales partners, and three state-of-the-art data centers, the company securely processes over 1 billion transactions annually for nearly 200,000 businesses, representing over $100 billion in payments each year. For additional information, visit www.shift4.com.

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Media Contacts

Nate Hirshberg
AVP, Marketing
Shift4 Payments
888.276.2108 x1107
nhirshberg@shift4.com

Kevin Mills
Chief Financial Officer
Posera Ltd.
519.434.8017
ir@posera.com

Posera and POS Portal Announce their Distribution Partnership for SecureTablePay Across the U.S.

TORONTO, ON – Posera Ltd. (TSX: PAY), a leading provider of software solutions for the hospitality industry, and ScanSource, Inc. (NASDAQ: SCSC), a global provider of technology products and solutions, announced today a partnership that makes POS Portal, a ScanSource Company, the primary distribution partner of Posera’s pay-at-the-table solution, SecureTablePay®.

SecureTablePay makes it possible for customers to pay their restaurant bill directly at the table via easy, efficient, secure, and EMV-compliant transactions, while enhancing the customer experience. This solution allows the server to perform all functions of completing the payment transaction directly at the table – including pulling up the check, accepting and authorizing payment, and closing the table with full reconciliation to the point-of-sale (POS). As customers’ credit and debit cards never leave their possession, SecureTablePay also improves security and fraud protection.

With a broad distribution channel, POS Portal will be instrumental in successfully deploying and supporting SecureTablePay in the U.S. market. “We always have an eye out for what’s happening next,” said Kevin Kent, Director of Channel Development for POS Portal. “Our channels have been asking for a pay-at-the-table solution that is easily integrated and includes a wide array of functionality,” said Kent.

Serving partners in the payments industry for almost 20 years, POS Portal is equipped to configure and deliver all the necessary hardware components for SecureTablePay. POS Portal also offers front-line support, troubleshooting, and replacement services for payments hardware regardless of the independent software vendor (ISV) or processor used.

“POS Portal is the ideal distribution partner for SecureTablePay as they have multiple key injection facilities across the U.S.,” said Akash Sahai, EVP, Strategy and Business Development for Posera. “SecureTablePay works with most leading payment processors and is integrated to 25 of the leading restaurant management systems. Given that POS Portal also works with the leading processors and ISVs, POS Portal is a perfect fit to distribute SecureTablePay,” added Sahai.

Certified with several leading processors, including Vantiv (now Worldpay), SecureTablePay allows restaurants to now adopt a next-generation solution that allows operators to upgrade card security, gain server efficiency, enhance patron experience, and limit chargebacks. As a partner with a proven track record of successfully helping payment innovators deliver cohesive solutions to market, POS Portal has made adopting SecureTablePay fast and easy.

About POS Portal
Since 2000, POS Portal has been changing the payments industry. As a leading distributor of credit card terminals and supplies, POS Portal is pioneering the way in logistics and distribution for secure payment devices. Having one of the most extensive libraries of injection keys and over 17 years of strategic relationships with gateways, processors, and terminal OEMs, POS Portal has the resources needed to always deliver secure devices preconfigured just the way our partners need them. With two Key Injection Facilities (KIF), POS Portal deploys devices direct to businesses nationwide. At POS Portal we’re committed to providing exceptional service to the point-of-sale industry through mutually beneficial, long-lasting relationships. In 2017, POS Portal was acquired by ScanSource, Inc. (NASDAQ: SCSC), a leading global provider of technology products and solutions. For additional information, please visit http://www.posportal.com or call 1-866-940-4POS (4767).

About Posera
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

For more information:
Kevin Mills, Chief Financial Officer
1.519.434.8017
ir@posera.com

www.posera.com

Brooke Turner, Product Marketing Manager
1.916.993.4241
bturner@posportal.com

Posera Announces Resignation of Executive Chair and Appointment of Interim Chair

Toronto, ON – May 22, 2018 – Posera Ltd. (TSX:PAY) (“Posera” or the “Company”), a leading provider of hospitality software and payment solutions, announced that effective today, Mr. Loudon Owen resigned asExecutive Chair of Posera. Mr. Owen, as Posera’s former Chief Executive Officer and then Executive Chair,lead the review of the Company’s operations following the departure of the former Chief Executive Officer of the Company, and oversaw the implementation of an updated business plan for the Company thatincluded an internal reorganization of the Company’s business divisions to make them sustainable and profitable, the divestiture of non-core operations, securing capital for the Company, and pursuing other strategic opportunities. The Board of Directors wishes to thank Mr. Owen for his leadership and initiative in advancing the business interests of Posera.

Mr. Owen’s resignation will permit him to focus on the business of DLT Labs Inc., a global leader in data management solutions for enterprises, powered by blockchain. Mr. Owen is the Chairman, CEO and a shareholder of DLT Labs. In October 2017, Posera announced that it had established a joint venture with DLT Labs to deliver Blockchain technology into the hospitality POS and payments ecosystem. The parties continue to work together in furtherance of their business relationship and may also explore other strategic opportunities. In that regard, on May 9, 2018, Posera announced that it had established a credit facility to provide financial resources and liquidity to DLT Labs for the purpose of accelerating its development efforts while providing Posera with an opportunity to participate in DLT Labs’ initiatives.

The Company has entered into a Transition Services Agreement with a company controlled by Mr. Owen to ensure an orderly transfer of responsibility for execution of the Company’s business plan and various initiatives being evaluated by the Company.

In conjunction with Mr. Owen’s resignation, Mr. Edwin Nordholm has been appointed Interim Chair of Posera. Mr. Nordholm, currently an independent director of the Board of Posera, is a business lawyer with extensive experience in corporate finance, mergers and acquisitions transactions and corporate restructuring. Currently, Mr. Nordholm is an Executive Vice President of Anthem Sports & Entertainment Corp. and also serves as the President of Anthem Wrestling Exhibitions LLC. As such, Mr. Nordholm has both executive and advisory experience working with businesses in transition, rationalizing costs and developing creative solutions to financially challenging situations.

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application;Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product.Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains andindependent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual InformationForm to be filed on March 28th, 2018 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

For more information:
Kevin Mills, Chief Financial Officer
1.519.434.8017
kmills@posera.com
www.posera.com

Posera Announces First Quarter 2018 Financial Results

TORONTO, May 14, 2018 /CNW/ – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of hospitality software and payment solutions, today announced its financial results for the three-months and March 31st, 2018.

During the three-months ended March 31, 2018, total revenue(1) increased by $608,825 (28.5%) to $2,742,337 compared to the three-months ended March 31, 2017 but decreased by $585,528 (17.6%) compared to the three-months ended December 31, 2017.

Posera experienced a normalized EBITDA loss(2) for the three-months ended March 31, 2018 of $547,177, a 36.2% improvement over the three-months ended March 31, 2017 and a 56.4% increase in the loss compared to the three-months ended December 31, 2017. The decrease in the loss between the first quarter comparable periods was due to an increase in revenues and gross profit generated by the Company, led by the continued success of the KDS (“Kitchen Display System”). During the three-months ended March 31, 2018 the Company sold 267 KDS devises, which represents an increase of 178 (200.0%) devises compared to the three months- ended March 31, 2017. Additionally, operating expenses were relatively consistent between the comparable periods.

Posera recognized a net loss from continuing operations(2) for the three-months ended March 31, 2018 of $917,082, a decrease in the loss of $464,615 (33.6%) from the three-months ended March 31, 2017 and an increase in the loss of $354,735 (63.1%) from the three-months ended December 31, 2017.

(1) Total Revenue excludes the discontinued operations for the FingerPrints transaction as previously discussed on Page #4 of the Company’s Management Discussion and Analysis (MD&A) for the three-months ended March 31, 2018.
(2) Normalized EBITDA adjusted to exclude discontinued operations: Posera’s management defines Normalized EBITDA adjusted for discontinued operations as EBITDA adjusted for discontinued operations above less certain one-time non- recurring expenditures, and non-cash stock-based compensation expense.

Conference call

The Company will hold a conference call at 11:00 AM Eastern Daylight Time on Wednesday, May 16th, 2018, to discuss the financial results for the three-months March 31st, 2018. The call will be hosted by Dan Poirier, Chief Executive Officer; and Kevin Mills, Chief Financial Officer. A question and answer session will follow the corporate update.

CONFERENCE CALL DETAILS
Date: Wednesday, May 16th, 2018
Time: 11:00 AM Eastern Daylight Time

Participant Dial-in Numbers:
Local – Toronto (+1) 647-427-7450
Toll Free – North America (+1) 888-231-8191
Conference ID: 7994586

Please connect at least 10 minutes prior to the conference call to ensure time for any software download that may be needed to hear the webcast.

Quarterly Highlights

  • Total revenue(1) for the three-months ended March 31, 2018 increased by $608,825 (28.5%) to $2,742,337 compared to the three-months ended March 31, 2017 but decreased by $585,528 (17.6%) compared to the three-months ended December 31, 2017;
  • Recurring revenues(1) for the three-months ended March 31, 2018 were $675,559, an increase of 5.8% compared to the three-months ended March 31, 2017, but a decrease of 1.7% compared to the three-months ended December 31, 2017; and
  • Normalized EBITDA(2) loss for the three-months ended March 31, 2018 was a loss of $547,177, a 36.2% improvement over the three-months ended March 31, 2017, and a 56.4% increase in the loss compared to the three-months ended December 31, 2017;
(1) Amount presented applies the retrospective presentation for discontinued operations for the FingerPrints transaction as discussed in the Company’s MD&A on Page #4 for the three-months ended March 31, 2018.
(2) Presentation of these amounts include the results from discontinued operations as discussed on Page #4 of the Company’s MD&A for the three-months ended March 31, 2018.

 

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About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post- sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 28th, 2018 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

For more information:
Kevin Mills, Chief Financial Officer
Posera Ltd.
1.519.434.8017
kmills@posera.com
www.posera.com

Posera Announces $1.6M Secured Bridge Credit Facility with DLT Labs Inc.

Toronto, ON – May 9, 2018 – Posera Ltd (TSX:PAY), today announced that it has established a $1.6 million secured bridge credit facility for its joint venture partner, DLT Labs Inc., a global leader in data management solutions for enterprises, powered by blockchain. The new credit facility is intended to provide financial resources and liquidity to DLT Labs for the purpose of accelerating its development while providing Posera with an opportunity to participate in DLT Labs’ initiatives.

In October 2017, Posera announced that it had established a joint venture with DLT Labs to deliver Blockchain technology into the hospitality POS and payments ecosystem. The parties continue to work together in furtherance of their business relationship and may also explore other strategic opportunities.

The board of directors of Posera has established a special committee of independent directors comprised of Messrs. Nordholm (Chairman), Brown and Figueira to oversee the Company’s relationship with DLT Labs and to make recommendations to the board of directors concerning any potential transactions between Posera and DLT Labs. The terms of the credit facility for DLT Labs were negotiated under the supervision of, and reviewed and approved by, the special committee. After receiving the unanimous recommendation of the special committee, the board of directors of Posera (with Mr. Loudon Owen, Executive Chairman of Posera and a director and shareholder of DLT Labs recusing himself due to his interest in DLT) approved the credit facility.

###

About Posera
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standaloneproduct. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chainsand independent table service restaurants to international quick service chains and its products have been translated into eight languages.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

About DLT Labs
DLT Labs Inc. (“DLT”) is a global leader in the development and implementation of blockchain solutionsfor enterprises. With the world’s premier team of distributed application designers and integrators at our offices in Canada, India and Japan, DLT has extensive enterprise experience and expertise with all distributed ledger/blockchain technologies including Enterprise Ethereum, Hyperledger Fabric, R3’s Corda, JP Morgan’s Quorum, and other leading enterprise platforms. DLT’s leading group of architects use proprietary DNC Cluster Framework and Parent & Child Smart Contract Architecture to design and deploy a suite of secure and scalable Distributed Applications that provide enterprise solutions for data and digital asset provenance storage, management and exchange. DLT is an authorized IBM Business Partner, Technology Partner of Bombay Stock Exchange, member of Blockchain in Transportation Alliance (BiTA), and a partner of Enterprise Ethereum Alliance, Hyperledger and Linux Foundation. Website: http://www.dltlabs.com

For more information:
Kevin Mills, Chief Financial Officer
Posera Ltd.
1.519.434.8017
ir@posera.com
www.posera.com

Posera Announces Annual and Fourth Quarter 2017 Financial Results

Toronto, ON – March 28th, 2018 – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of software and payment solutions for the hospitality industry, today announced its financial results for the three-months and year-ended December 31st, 2017.

For the year-ended December 31, 2017, Posera recognized $10,674,447 in revenue, an increase of $1,152,314 or 12% when compared to $9,522,133 for the year-ended December 31, 2016. For the three-months ended December 31, 2017, Posera recognized $3,327,865 in revenue an increase of $1,468,038 (79%) from $1,859,827 for the three-months ended December 31, 2016 and an increase of $1,069,699 (47%) from $2,258,166 for the three-months ended September 30, 2017.

During the year of 2017 Posera achieved several noteworthy milestones including: the divestment of its FingerPrints business, the launch of its KDS (“Kitchen Display System”) solution as a separate business, the growth of Maitre’D sales in the hotel industry, and the completion of certification with several major processors of its SecureTablePay product. “2017 was a very positive and eventful year for Posera”, said Dan Poirier, CEO of Posera. “We continued to rightsize and streamline the business, while at the same time growing our sales and installed base for Maitre’D, and introducing new products to the industry in KDS and SecureTablePay. We believe the company is well-positioned for the market, and look forward to growing a strengthened Company in 2018.”

In September 2017, Posera completed an asset sale of its FingerPrints point-of-sale (POS) business, to SICOM Systems, Inc., for $12.2M in cash consideration, which after post-closing adjustments resulted in a final gain on the disposal of $10,912,935. This divestment improved Posera’s balance sheet, was a catalyst on the road to profitability, and allowed Posera to strategically focus on its three core products: Maitre’D (POS software), KDS (kitchen display system), and SecureTablePay (pay-at-the-table solution).

During the third quarter of 2017, Posera also announced the launch of its KDS solution as a standalone offering from the Maitre’D POS platform for integration with third-party point-of-sale and restaurant management solutions. Posera is pleased to report that it has achieved significant traction with the strategy to decouple the KDS product from Matire’D with a significant order from an American customer with installations scheduled into fiscal 2018, and during the three-months ended December 31, 2017, the Company sold 1,656 KDS units, representing an increase of 1,579 units compared to the three months-ended December 31, 2016 and an increase of 1,432 units compared to the three months-ended September 30, 2017.

The Maitre’D POS solution continued to excel in non-traditional-restaurant hospitality sectors such as hotels, casinos, and assisted care living. Specifically, Maitre’D sales in the European market grew approximately 45% year-over-year for fiscal 2017. To fuel this growth, Posera completed certifications with three leading property management systems deployed by major hotel brands globally. Combined with the recently announced Shift4 certification, Posera is confident that it can replicate the European success in North America as well in 2018.
Posera completed certification of SecureTablePay with three of the largest US processors, Vantiv, Heartland and First Data, and continues to work towards certification with several other leading processors. After completing these certifications, Posera commenced pilots with all three of the above leading processors at locations across the United States, and will launch SecureTablePay during the 2018 calendar year.

During the year-ended December 31, 2017, the Company recorded a $10,912,935 gain on the divestment of FingerPrints and other minor assets, and a loss on discontinued operations of $1,881,926. As a result, net income for the year-ended December 31, 2017 was $6,179,568, an improvement of $9,860,516 from a loss of $3,680,948 for the year-ended December 31, 2016. Net loss from continuing operations for the year-ended December 31, 2017 was a loss of $2,851,441, an improvement of $2,234,129 compared to the loss of $5,085,570 for the year-ended December 31, 2016.

Posera experienced a normalized EBITDA(1,2) loss adjusted for discontinued operations for the year-ended
December 31, 2017 of $1,354,734, representing a $294,458 (18%) improvement from a loss of $1,649,192
for the year-ended December 31, 2016.

(1) EBITDA adjusted for discontinued operations: Posera’s management defines EBITDA as Net Income before interest expense, interest income, income taxes (excluding certain investment tax credits and other government assistance), amortization of capital and intangible assets, realized and unrealized exchange gain or loss, impairments and gains or losses on held for trading financial instruments, gains or losses from discontinued operations and other gains or losses on disposition of assets or extinguishment of liabilities.

(2) Normalized EBITDA adjusted for discontinued operations: Posera’s management defines Normalized EBITDA adjusted for discontinued operations as EBITDA adjusted for discontinued operations above less certain one-time non-recurring expenditures, and non-cash stock-based compensation expense.

Conference Call
The Company will hold a conference call at 2:00 PM Eastern Standard Time on Tuesday, April 3rd, 2018,
to discuss the financial results for the three-months and year-ended December 31st, 2017. The call will be
hosted by Loudon Owen, Chairman; Dan Poirier, Chief Executive Officer; and Kevin Mills, Chief Financial
Officer. A question and answer session will follow the corporate update.

CONFERENCE CALL DETAILS
Date: Tuesday, April 3rd, 2018
Time: 2:00 PM Eastern Standard Time
Participant Dial-in Numbers:
Local – Toronto (+1) 647-427-7450
Toll Free – North America (+1) 888-231-8191
Conference ID: 5985223

An archive of the conference call will be available by visiting the Company’s website at
www.posera.com/investor-relations. Please connect at least 10 minutes prior to the conference call to
ensure time for any software download that may be needed to hear the webcast.

###

Quarterly Highlights
• Total revenue(1) was $3,327,865 for the three-months ended December 31, 2017, an increase of
$1,468,038 (79%) from $1,859,827 for the three-months ended December 31, 2016 and an increase of
$1,069,699 (47%) from $2,258,166 for the three-months ended September 30, 2017;
• Recurring revenues(1) adjusted for discontinued operations for the three-months ended December 31,
2017 were $687,536, was relatively flat compared to recurring revenues of $676,396 for the threemonths
ended December 31, 2016, and relatively unchanged from recurring revenues of $699,120 for
the three-months ended September 30, 2017; and
• Normalized EBITDA(2) adjusted for discontinued operations profit (loss) for the three-months ended
December 31, 2017 was a loss of $349,881, which was an improvement compared to a loss of $753,671
for the three-months ended December 31, 2016, and an improvement compared to the loss of $356,839
for the three-months ended September 30, 2017.
Annual Highlights
• Total revenue(1) was $10,674,447 for the year-ended December 31, 2017, an increase of $1,152,314
(12%) from $9,522,133 for the year-ended December 31, 2016;
• Recurring revenues(1) adjusted for discontinued operations for the year-ended December 31, 2017 were
$2,706,141, a slight decrease of $192,107 (7%) from recurring revenues of $2,898,248 for the yearended
December 31, 2016; and
• Normalized EBITDA(2) adjusted for discontinued operations for the year-ended December 31, 2017 was
a loss of $1,354,734, a decrease in the loss of $294,458 (18%) from a loss of $1,649,192 for the yearended
December 31, 2016.

(1) Amount presented applies the retrospective presentation for discontinued operations for the Zomaron and FingerPrints transactions as discussed in this MD&A on Page #3-5 of the Company’s Management Discussion and Analysis for the year and thre months ended December 31, 2017.

(2) Presentation of these amounts include the results from discontinued operations as discussed on Page #3-5 of the Company’s Management Discussion and Analysis for the year and three-months ended December 31, 2017.

About Posera
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant
transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application;
Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware
integration services, merchant staff training, system installation services, post-sale software and hardware
customer support; and KDS, a Kitchen Display System that is now available as a standalone product.
Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and
independent table service restaurants to international quick service chains and its products have been
translated into eight languages.
Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.
More information about Posera can be found on the Company’s website at www.posera.com or under the
Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations,
which involve risks and uncertainties associated with our business and the environment in which the
business operates. Any statements contained herein that are not statements of historical facts may be
deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”,
“estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its
management. The forward-looking statements are not historical facts, but reflect Posera’s current
expectations regarding future results or events. These forward-looking statements are subject to a number
of risks and uncertainties that could cause actual results or events to differ materially from current
expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information
Form to be filed on March 28th 2018 with the regulatory authorities. Posera assumes no obligation to update
the forward-looking statements, or to update the reasons why actual results could differ from those reflected
in the forward-looking statements, unless required by law.

For more information:
Kevin Mills, Chief Financial Officer
1.519.434.8017
kmills@posera.com
www.posera.com

Posera Announces the Distribution of SecureTablePay through Vantiv, now Worldpay’s Integrated Payments POS Reseller Channels in the U.S.

TORONTO, February 28, 2018 – Posera Ltd. (TSX: PAY), a leading provider of software solutions for the hospitality industry, announced today that SecureTablePay, its new pay-at-the-table solution for the hospitality sector, is available through Vantiv, now Worldpay’s Integrated Payments POS reseller channels in the U.S.

SecureTablePay makes it possible for customers to pay their restaurant bill directly at the table via easy, efficient, secure, and EMV-compliant transactions, while enhancing the customer experience by giving servers more time to spend with customers. This solution allows the server to perform all functions of completing the payment transaction directly at the table – including pulling up the check, accepting and authorizing payment, and closing the table with full reconciliation to the point-of-sale (POS). As customers’ credit and debit cards never leave their possession, SecureTablePay also improves security and fraud protection. Together, these capabilities achieve an optimal balance between higher efficiency and enhanced security.

“With our open architecture model and wide presence in the U.S., we are able to deliver adaptable payment options through innovations like SecureTablePay,” said Matt Downs, head of channel and business development at Worldpay. “As new technologies are developed, we’re there to bring the future of payments to our merchant’s fingertips.”

Merchants on the Worldpay network in the U.S. who need an EMV solution will now be able to obtain SecureTablePay to increase their security and efficiency. Regardless of the POS system they use, merchants can easily implement SecureTablePay into their current systems, as SecureTablePay is essentially a universal solution, already integrated with many of the leading POS systems available in the market.

“Posera is proud to provide Worldpay with a pay-at-the-table solution for their merchants as we share Worldpay’s commitment to delivering innovative technology to hospitality clients,” said Akash Sahai, EVP, Strategy and Business Development, Posera. “Experience in other markets affirms that once customers and merchants experience the simplicity and efficiency of paying directly at the table, this will become the standard that customers will demand and Worldpay will be there to meet that demand with SecureTablePay,” added Sahai.

 

###

 

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

For more information: Kevin Mills, Chief Financial Officer

1.519.434.8017

ir@posera.com
www.posera.com

 

2017

Posera Responds to Recent Trading Activity in its Shares

TORONTO, December 22, 2017 – Posera Ltd. (the “Company”) (TSX: PAY), a leading provider of software solutions for the hospitality industry, is issuing a press release in response to recent trading activity in its shares. The Company is not aware of any material undisclosed corporate developments and has no material information or change to report at this time. The Company will keep the market informed as required.

Blockchain Joint Venture

As previously announced in a press release dated October 20, 2017, the Company has entered into a joint venture arrangement with DLT Labs Inc., a private global leader in the development and implementation of Blockchain solutions for enterprises, to deliver Blockchain technology into the hospitality POS ecosystem including developing a real-time transaction and inventory management system. The parties are currently pursuing this business opportunity.

###

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

For more information:
Kevin Mills, Chief Financial Officer
1.519.434.8017
ir@posera.com www.posera.com

Posera’s Pay-at-the-Table Solution, SecureTablePay, Has Completed Certification with First Data

TORONTO, December 14, 2017 – Posera Ltd. (TSX: PAY), a leading provider of software solutions for the hospitality industry, announced today the completion of certification with First Data, a global leader in commerce-enabling technology, for Posera’s pay-at-the-table solution, SecureTablePay®.

SecureTablePay is a middleware software solution that allows customers to pay-at-the-table in an easy, efficient, secure, and EMV compliant manner. With SecureTablePay, the server only needs to go to the POS workstation once – to place the order. Pulling up the check, accepting and authorizing payment, and closing the table with full reconciliation to the POS is done directly at the table. This allows the server to spend more time on the floor with customers. It also means the credit or debit card never leaves the customer’s hands, increasing security and reducing opportunity for fraud. These capabilities create the perfect balance of greater security and increased efficiency.

“We are very excited about our certification with First Data. As it is the largest payment processor worldwide, and given their great distribution network and so many different channels, First Data has the ability to make SecureTablePay easily accessible to merchants big and small across the U.S.,” said Akash Sahai, EVP, Strategy and Business Development for Posera.

The first SecureTablePay deployment on the First Data network was installed on October 23rd, 2017 in a North Carolina restaurant through their local dealer, Cabaret Systems, Inc.  “Cabaret Systems Inc, has been waiting on an easy and efficient pay-at-the-table solution for the U.S. market. We are very happy with how the SecureTablePay application has worked, and we plan on implementing it with many of our restaurant customers in the coming months,” said Jeff Henry, President, Cabaret Systems, Inc.

With certification now complete, merchants on the First Data network who are looking to acquire pay-at-the-table functionality, or who need to adopt EMV, can do so with SecureTablePay, as SecureTablePay integrates with all leading POS systems.

 

###

About Posera

 

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

For more information:

Kevin Mills, Chief Financial Officer
1.519.434.8017
ir@posera.com
www.posera.com

 

Shift4 and Posera Announce Integrated Solution for the Hospitality Industry

Full-Featured Joint Solution Is Available Today in the U.S. and Canada

LAS VEGAS and TORONTO — December 1, 2017 — Payment services and gateway provider Shift4 Corporation and Posera Ltd. (TSX: PAY), a leading provider of software solutions for the hospitality industry, today announced the availability of their feature-rich and EMV-certified joint solution.

Shift4’s DOLLARS ON THE NET integrates with Posera’s Maitre’D to support credit, debit, and gift card transactions, and provides out-of-the-box support for U.S. and Canadian EMV, point-to-point encryption (P2PE) and tokenization. Their offering includes comprehensive auditing and accounting tools, the industry’s best uptime and simple adoption of emerging and alternative payment methods, such as mobile wallets.

With the joint solution, food and beverage (F&B) operators can process EMV payments to help prevent the fraudulent use of stolen card data at physical points of sale in fine and casual dining, quick service, hotels, bars and more, while adding the layered security of Shift4’s tokenization and PCI-validated P2PE. This keeps sensitive cardholder data out of the business’s payment processing environment — greatly reducing the risk of a breach and simplifying PCI assessments — while protecting their guests’ payment data from hackers.

“We’re very excited to announce the availability of the Posera and Shift4 integrated solution,” said Dan Poirier, Chief Executive Officer at Posera. “The full-featured Maitre’D solution pairs perfectly with Shift4’s suite of payment solutions and services.”

Shift4 proudly supports more than a dozen EMV-capable terminals by Ingenico Group and Verifone, a host of payment functionalities such as bar tabs, tips, EMV quick chip and more. Their unmatched bank and processor options make it possible for F&B operators to adopt EMV without changing their financial relationships, giving them the freedom to negotiate the best payment processing rates or make a switch if needed. Shift4 is currently certified for EMV with 10 major processors — delivering unparalleled coverage of acquirers in the U.S., Canada, Caribbean and participating regions of Visa Direct.

“Shift4’s ability to provide options for merchants of all sizes and in all industries, has allowed us to support our mission of merchant advocacy,” said Daniel Montellano, VP of Strategic Business Development at Shift4. “Our partnership with Posera and integration to their Maitre’D POS now provides a top choice for hospitality and food and beverage operators.”

To learn more about Shift4’s payment gateway and services, visit www.shift4.com or call 800.265.5795.

More information about Posera can be found on the company’s website at www.posera.com or under the company’s profile on SEDAR at www.sedar.com.

 

About Shift4 Corporation

Shift4 services merchants and partners in many industries by delivering feature-diverse, secure payment solution services, via our gateway DOLLARS ON THE NET®. Shift4 provides options for devices, processor/bank and POS/PMS integrations that empower its partners to service merchants in U.S., Canada, Caribbean, and all participating regions of Visa Direct. Shift4 invented tokenization and owns nine payment-security related patents. Learn more at www.shift4.com.

 

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

 

Media Contacts

Marketing Department
Shift4 Corporation
702.597.2480
pr@shift4.com

 

Kevin Mills, Chief Financial Officer
Posera Ltd.
519.434.8017
ir@posera.com

 

Posera Announces Third Quarter 2017 Financial Results

Toronto, ON – November 15, 2017 – Posera Ltd. (TSX: PAY) a leading provider of software solutions for the hospitality industry, today announced its financial results for the three and nine-months ended September 30, 2017.

During the third quarter of 2017 Posera achieved noteworthy milestones including: the divestment of its FingerPrints business, the launch of its KDS solution as a separate business, the growth of Maitre’D sales in the hotel industry, and the completion of certification with several major processors of its SecureTablePay product.

In September, Posera completed an asset sale of its FingerPrints point-of-sale (POS) business, to SICOM Systems, Inc., for $12.2M in cash consideration, subject to post-closing adjustments. This divestment improves Posera’s balance sheet, is a catalyst on the road to profitability, and allows Posera to strategically focus on its three core products: Maitre’D (POS software), KDS (kitchen display system), and SecureTablePay (pay-at-the-table solution).

During the third quarter Posera also announced the launch of its KDS solution as a standalone offering from the Maitre’D POS platform for integration with third-party point-of-sale and restaurant management solutions. Posera is pleased to report it is achieving strong traction with this strategy and has received a significant order from a US-based quick-service chain, with installations scheduled to be completed in the fourth quarter of 2017 and the first quarter of 2018. KDS sales are trending towards an approximate 400% revenue increase on a year-over-year basis (YOY).

“Integrating KDS to a proprietary POS system of this magnitude was an exciting project for Posera, and our dedicated team worked very hard over the past year to make this a reality,” said Dan Poirier, Chief Executive Officer. “We are proud of the many enhancements we made to the KDS software to win this large customer; these enhancements will now be available in all future versions and to all future customers,” added Poirier.

The Maitre’D POS solution continues to excel in non-traditional-restaurant hospitality sectors such as hotels, casinos, and assisted care living. Specifically, Maitre’D sales in the European hotel market have grown approximately 40% YOY through the first nine months of 2017. To fuel this growth, Posera completed certifications with three leading property management systems that are deployed by major hotel brands globally, and combined with the recent Shift4 certification, Posera is confident that it can replicate the European success in North America as well.

Posera completed certification of SecureTablePay with Heartland and First Data, adding to its existing certification with Vantiv, and continues to work towards certification with several other leading processors. SecureTablePay is currently in pilot with all three of the above leading processors at several locations across the country and will be fully launched in the US market in the fourth quarter.

During the three-months ended September 30, 2017, the Company recorded a $11,237,620 gain on the divestment of FingerPrints and other minor assets, and a loss on discontinued operations of $855,349. As a result, net income for the three-months ended September 30, 2017 was $9,857,645, an improvement of $10,857,604 from a loss of $989,959 for the three-months ended September 30, 2016, and an improvement of $10,782,354 from a loss of $924,709 for the three-months ended June 30, 2017.

Normalizing for the gain on the divestment and excluding the FingerPrints discontinued operations during the three-months ended September 30, 2017, Posera recognized $2,258,166 in total revenues, a decrease of $696,737 (23.6%) from $2,954,903 for the three-months ended June 30, 2017, and a decrease of $192,972 (7.9%) from $2,451,138 when compared to the three-months ended September 30th, 2016. Recurring revenues for the three-months ended September 30, 2017 were $699,120, an increase of $18,268 (2.7%) from recurring revenues of $680,852 for the three-months ended June 30, 2017, and a decrease of $12,517 (1.8%) from recurring revenues of $711,637 for the three-months ended September 30, 2016.

Posera experienced a normalized EBITDA(1,2) loss adjusted for discontinued operations for the three-months ended September 30, 2017 of $356,839, representing a $20,152 (5.3%) decrease in loss from a loss of $376,991 for the three-months ended September 30, 2016. On a normalized basis, during the three-months ended September 30, 2017, the Company experienced a net loss from continuing operations of $524,626, compared to a net loss of $950,816 for the three-months ended September 30, 2016, and a net loss of $375,708 for the three-months ended June 30, 2017.

  • EBITDA adjusted for discontinued operations: Posera’s management defines EBITDA as Net Income before interest expense, interest income, income taxes (excluding certain investment tax credits and other government assistance), amortization of capital and intangible assets, realized and unrealized exchange gain or loss, impairments and gains or losses on held for trading financial instruments, gains or losses from discontinued operations and other gains or losses on disposition of assets or extinguishment of liabilities.
  • Normalized EBITDA adjusted for discontinued operations: Posera’s management defines Normalized EBITDA adjusted for discontinued operations as EBITDA adjusted for discontinued operations above less certain one-time non-recurring expenditures, and non-cash stock-based compensation expense.

 

Conference Call

The Company will hold a conference call at 11:00 AM Eastern Standard Time on Thursday, November 16, 2017, to discuss the financial results for the three and nine-months ended September 30, 2017.  The call will be hosted by Loudon Owen, Chairman; Dan Poirier, Chief Executive Officer; and Kevin Mills, Chief Financial Officer. A question and answer session will follow the corporate update.

CONFERENCE CALL DETAILS

Date: Thursday, November 16, 2017

Time: 11:00 AM Eastern Standard Time

Participant Dial-in Numbers:

Local – Toronto (+1) 647-427-7450

Toll Free – North America (+1) 888-231-8191

Conference ID: 3487119

An archive of the conference call will be available by visiting the Company’s website at www.posera.com/investor-relations. Please connect at least 10 minutes prior to the conference call to ensure time for any software download that may be needed to hear the webcast.

 

###

 

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

Forward-Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company’s business and the environment in which the business operates. These statements include, but are not limited to, the expected size and completion date of the Offering, participation in the Offering by certain insiders, and the use of proceeds from the Offering. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including general market conditions as they relate to the Company’s Shares, and the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 31st, 2017 with the securities regulatory authorities and available on SEDAR. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For more information:
Kevin Mills, Chief Financial Officer

1.519.434.8017

ir@posera.com
www.posera.com

 

Posera and DLT Labs Announce a Joint Venture to Implement Blockchain Technology into Hospitality POS and Payment Processing

TORONTO, October 20, 2017 – Posera Ltd. (TSX: PAY), a leading provider of software solutions for the hospitality industry, and DLT Labs Inc., a global leader in blockchain solutions for enterprises, today announced a joint venture to deliver Blockchain technology into the hospitality POS ecosystem including developing a real-time transaction and inventory management system.

Blockchain is an electronic ledger that can be shared among disparate users and creates an unchangeable time-stamped record of transactions. Each digital record or transaction in the thread is stored in a block. Because blocks cannot be changed, and augmented by the additional protection of encryption, the data is immutable and inherently secure. Flexible architecture allows either an open or controlled set of users to participate in the electronic ledger. But one of the most powerful attributes of Blockchain is the ability to develop real-time systems that synchronize mass amounts of data.

“As leaders become increasingly aware of the economic and strategic benefits derived from real-time enterprise solutions, there is an industry shift to blockchain-centric systems on the horizon. The potential cost benefits in payment processing are enormous, and we believe the competitive and real-time nature of the hospitality industry will help drive adoption. We are delighted to partner with DLT Labs, an innovator in the Blockchain space, to pioneer real-time solutions in the hospitality and payment industry,” said Akash Sahai, EVP, Strategy and Business Development, Posera.

One example of the benefits, by integrating payment processing on blockchain, all parties in the payment processing ecosystem (merchants, processors, suppliers, and ISVs) will have access to the transaction data in a secure and real-time environment. This will not only decrease exorbitant systems expenses, but enables an entirely new generation of real-time analytics solutions. As another example, the partnership with DLT Labs will allow Posera’s SecureTablePay® pay-at-the-table solution to accept crypto-currency, making Posera a pioneer in the process of accepting crypto payments in the hospitality industry. SecureTablePay is now live in the market in the USA, certified with three major payment processors and available across the country.

“DLT Labs recognizes both the technical strength and domain expertise at Posera which will help us both accelerate this innovative development and quickly bring to market an exciting Blockchain development initiative,” said Neeraj Srivastava, Founder and CTO, DLT Labs. “The adoption of Distributed Ledger Technology is in its infancy, and we believe it is particularly suited to the demands of the hospitality industry, and more broadly throughout the payment industry, and we are extremely pleased to be working with Posera and their SecureTablePay solution,” added Srivastava.

 

###

About Posera
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.
For more information:
Kevin Mills, Chief Financial Officer
1.519.434.8017
ir@posera.com www.posera.com

About DLT Labs
DLT Labs is a global leader in the development and implementation of Blockchain solutions for enterprises. The company’s leading group of architects, using proprietary DNC Cluster Framework and Parent & Child Smart Contract Architecture, design and deploy distributed enterprise applications with high scalability, security, and throughput. With the world’s premier team of distributed application designers and integrators, DLT Labs has extensive enterprise experience and expertise with all distributed ledger/Blockchain technologies including Enterprise Ethereum, IBM’s Fabric, R3’s Corda, JP Morgan’s Quorum, and other leading enterprise platforms.

For more information:
David Freeman
1.416.277.9687
Chief Financial Officer
david.freeman@dltlabs.io

SICOM Acquires FingerPrints Point of Sale System from Posera Ltd.

Doylestown, PA and Toronto, ON – September 14, 2017 – SICOM, a leading best-of-breed provider of end-to-end solutions for quick service and fast casual restaurants, and Posera Ltd. (TSX: PAY), a leading provider of mission critical software solutions for the hospitality industry, today announced the sale of its FingerPrints point-of-sale (POS) system to SICOM Systems, Inc. for $12.2 million. The consideration for the FingerPrints asset sale is comprised of cash and will be subject to post-closing adjustments.

The FingerPrints POS system was specifically designed for the quick service restaurant (QSR) industry. The acquisition further strengthens SICOM’s domain expertise and commitment to adding greater value to the QSR industry, and more specifically to deepening its value in QSR across Canada. The divestiture by Posera enables it to strengthen its strategic focus on its core products: Maitre’D® POS, KDS (Kitchen Display System), and SecureTablePay® pay-at-the-table solution.

“The addition of FingerPrints strengthens our commitment to delivering a complete portfolio for QSR brands, franchises and restaurants. It is a robust product that drives greater efficiency and speed of service for quick service restaurants and will complement our existing solutions,” said Jim Flynn, CEO of SICOM.  “With its Canadian presence, this acquisition provides us with physical locations in Canada, helping us to better serve our current customers there and expanding our international presence.”

FingerPrints was launched in 2004 and currently operates in many leading QSR locations across Canada. Complemented by the Hypervision and Hyperscheduler offerings, FingerPrints enjoys an intuitive user interface and fully redundant system with integrated payment, EMV, loyalty and gift card capabilities as well as centralized menu and pricing programming, together with enabled mobile ordering.

“SICOM is the perfect fit for FingerPrints; with its thirty-year history of offering innovative products and services, its expansive customer list of the top QSR brand names and its commitment to growth, SICOM is the ideal accelerator to the FingerPrints brand’s continued success,” explained Dan Poirier, CEO of Posera. “This transaction is an exciting strategic evolution for Posera, allowing us to focus on Maitre’D, one of the premier POS brands, complete the roll out of SecureTablePay and capture the kitchen display market,” added Poirier.

Over 1,100 QSR restaurants throughout Canada that operate with the FingerPrints system will now be managed by SICOM.

 

###

 

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include: SecureTablePay®, an EMV compliant pay-at-the-table application; Maitre’D®, a point of sale system which offers a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support; and KDS, a Kitchen Display System that is now available as a standalone product. Posera’s solutions are deployed globally across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

About SICOM

SICOM Systems, Inc. is a leading best-of-breed provider of end-to-end technologies and services for the quick service and fast casual restaurants.  The company offers front-of-house solutions (i.e. Digital Menu Boards, Point-of-Sale (POS) and Order Confirmation Units); back-of-house solutions (Drive-Thru Director

and Chef Kitchen Management); as well as above restaurant solutions (360° Data Analytics and SEMS4 Restaurant Management) that are helping major restaurant chains around the globe to streamline their operations.  SICOM has over 40,000 digital menu boards, 8,000+ Drive-Thru Directors and 7,000+ CHEF Kitchen Management solutions in operation worldwide, while its POS systems are in more than 6,500 restaurants worldwide and it has more than 10,000 restaurants leveraging its enterprise management systems globally.  Founded in 1987, SICOM is headquartered in Doylestown, Pa. and can be found online at www.SICOM.com.

 

Contacts:

For Posera Ltd.:
Kevin Mills, Chief Financial Officer
Posera Ltd.
1.519.434.8017
ir@posera.com

 

For SICOM Systems Inc.:
Karen Higgins
A&E Communications, Inc.
610-831-5723
khiggins@aandecomm.com

Posera Announces Second Quarter 2017 Financial Results

Toronto, ON – August 14th, 2017 – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, today announced its financial results for the three and six-months ended June 30th, 2017.

During the three-months ended June 30, 2017, Posera recognized $4,392,224 in total revenues, an increase of $444,417 (11.3%) from $3,947,807 for the three-months ended March 31, 2017 and an increase of $54,309 or 1.3% when compared to the three-months ended June 30th, 2016 of $4,337,915.

The increase in revenues is primarily attributed to the successful launch of the Company’s integrated POS solution for the international hotel industry. Posera’s fully integrated POS solution for the hotel industry was launched in the last 270 days has resulted in more than 50 installations in prestigious hotel properties in Paris, Strasburg, Barcelona and more throughout Europe. Posera is expanding its hotel initiative to be a global solution, as sales to date have been European centric.

Posera experienced a normalized EBITDA loss(1,2) for the three-months ended June 30th, 2017 of $439,105, representing a decrease in the loss of $727,277 (62.4%), from a loss of $1,166,382 for the three-months ended March 31, 2017. The second quarter represented the second consecutive quarter where the Company reduced its normalized EBITDA loss. The improvement in the normalized EBITDA loss resulted from an increase in revenue in conjunction with ongoing operating expense reductions which is consistent with the Company’s expense reduction plan that has taken place throughout the first and second quarters of fiscal 2017.

Net loss for the three-months ended June 30, 2017 was a loss of $924,709, a decrease in the loss of $872,524 (48.5%) from a loss of $1,797,233 for the three-months ended March 31, 2017 and represents an increase in the loss of $106,874 (13.1%) from the normalized loss of $817,835(3) for the three-months ended June 30, 2016.

Recurring revenues for the three-months ended June 30th, 2017 were $1,681,142, an increase of $20,032 (1.2%) from recurring revenues of $1,661,110 for the three-months ended March 31, 2017 and a decrease of $63,008 (3.6%) from recurring revenues of $1,744,150 for the three-months ended June 30th, 2016 and. Recurring revenue has consistently remained at +/- 40% of total revenues between the comparative reporting periods.

The Company’s SecureTablePay (STP) product has been certified, or in final stages of certification with 4 major US based payment processors. Final pilot testing is progressing and commercialization, of this application is expected to commence in the third quarter of 2017. The US STP platform will be commercialized primarily on a recurring revenue model.

During the second quarter of 2017, Posera crossed a major milestone with the first installation outside of Canada of its Quick Service Restaurant (QSR) Point-of-Sale (POS) technology. Posera successfully deployed its QSR POS solution in the Philippines, leveraging the International expansion of a major customer. Posera has thousands of QSR locations deployed worldwide, with concentrations in Europe and North America. This demonstrates that our POS products are well suited to International growth in the economies of Asia, Africa, Central and South America, as our products have been built from inception with a multi-lingual approach.

  • EBITDA: Posera’s management defines EBITDA as Net Income before interest expense, interest income, income taxes (excluding certain investment tax credits and other government assistance), amortization of capital and intangible assets, realized and unrealized exchange gain or loss, impairments and gains or losses on held for trading financial instruments, and other gains or losses on disposition of assets or extinguishment of liabilities.
  • Normalized EBITDA: Posera’s management defines Normalized EBITDA as EBITDA as discussed above less certain one-time non-recurring expenditures, and non-cash stock-based compensation expense.
  • During the three-months ended June 30, 2016 the Company recorded a $1,959,794 gain on the disposition of Zomaron. Normalizing for the gain on the disposal of Zomaron during the three-months ended June 30, 2016.

 

Conference Call

The Company will hold a conference call on Friday, August 18th, 2017 to discuss the financial results for the three and six-months ended June 30th, 2017, at 1:00 PM Eastern Standard Time hosted by Loudon Owen, Chairman, Dan Poirier, Chief Executive Officer and Kevin Mills, Chief Financial Officer. A question and answer session will follow the corporate update.

CONFERENCE CALL DETAILS

Date: Friday, August 18th, 2017

Time: 1:00 PM Eastern Standard Time

Participant Dial-in Numbers:

Local – Toronto (+1) 647-427-7450

Toll Free – North America (+1) 888-231-8191

Conference ID: 70074668

An archive of the conference call will be available by visiting the Company’s website at www.posera.com/investor-relations. Please connect at least 10 minutes prior to the conference call to ensure time for any software download that may be needed to hear the webcast.

 

 

###

 

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay®, which is an EMV compliant pay-at-the-table application. Posera’s Maitre’D® and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company’s business and the environment in which the business operates. These statements include, but are not limited to, the expected size and completion date of the Offering, participation in the Offering by certain insiders, and the use of proceeds from the Offering. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including general market conditions as they relate to the Company’s Shares, and the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 31st, 2017 with the securities regulatory authorities and available on SEDAR. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For more information:
Kevin Mills, Chief Financial Officer

1.519.434.8017

kmills@posera.com
www.posera.com

 

 

Posera Completes $450,000 Private Placement of Common Shares

TORONTOAug. 9, 2017 /CNW/ – Loudon Owen, Executive Chairman of Posera Ltd. (“Posera” or the “Company”), is pleased to report that Posera has closed the second tranche of a non-brokered private placement of common shares (“Common Shares”). Under the second tranche, the Company issued a total of 3,750,000 Common Shares at a price of $0.12 per Common Share (the “Offering”) for gross proceeds of $450,000. No finders fees corresponding with the Offering were payable. The Offering represents the second and final tranche of a fully subscribed non-brokered private placement whereby the Company issued a total of 23,682,426 Common Shares (the “Financing”) for gross proceeds of $2,841,891. The first tranche of the Financing closed on August 4, 2017.

The Common Shares issued in connection with the Offering are subject to a 4-month hold period which expires on December 10, 2017.

The proceeds from the Offering are being used to increase the working capital of the Company. The Common Shares have been conditionally approved for listing on the Toronto Stock Exchange (“TSX”).

The Common Shares are listed on the TSX under the symbol “PAY”.

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s Maitre’D™ and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 “US Securities Act”) or any state securities laws and may not be offered or sold within the United States to U.S. Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company’s business and the environment in which the business operates. These statements include, but are not limited to, the expected size and completion date of the Offering, participation in the Offering by certain insiders, and the use of proceeds from the Offering. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including general market conditions as they relate to the Company’s Shares, and the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 31st, 2017 with the securities regulatory authorities and available on SEDAR. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

Posera Completes $2.4 million Private Placement of Common Shares

Toronto, Ontario: August 4, 2017 Loudon Owen, Executive Chairman of Posera Ltd. (“Posera” or the “Company”), is pleased to report that Posera has closed a non-brokered private placement of common shares (“Common Shares”). Under the private placement, the Company issued a total of 19,932,426 Common Shares at a price of $0.12 per Common Share (the “Offering”) for gross proceeds of $2,391,891. Posera paid finders fees in the aggregate amount of $35,729 in connection with certain subscriptions for Common Shares, representing 6.0% of the gross proceeds of such subscriptions. A further tranche of up to 3,750,000 Common Shares is expected to close in the following week.

Certain Common Shares issued in connection with the Offering are subject to a 4-month hold period which expires on December 5, 2017.

The proceeds from the Offering are being used to increase the working capital of the Company. The Common Shares have been conditionally approved for listing on the Toronto Stock Exchange (“TSX”).

The Common Shares are listed on the TSX under the symbol “PAY”.

 

###

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay®, which is an EMV compliant Pay-At-The-Table application. Posera’s Maitre’D® and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 “US Securities Act”) or any state securities laws and may not be offered or sold within the United States to U.S. Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

  

Forward-Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company’s business and the environment in which the business operates. These statements include, but are not limited to, the expected size and completion date of the Offering, participation in the Offering by certain insiders, and the use of proceeds from the Offering. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including general market conditions as they relate to the Company’s Shares, and the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 31st, 2017 with the securities regulatory authorities and available on SEDAR. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

For more information:
Kevin Mills, Chief Financial Officer

1.519.434.8017

kmills@posera.com
www.posera.com

Posera Announces the Launch of KDS as a Stand-alone Solution at the RSPA RetailNOW2017 Show in Las Vegas, NV

TORONTO, August 2, 2017 – Posera Ltd. (TSX : PAY), a leading provider of software solutions for the hospitality industry, today announces that it is officially launching KDS, a kitchen display system, as a stand-alone product. Formerly known as CVM, KDS has previously been accessible exclusively as a feature of Posera’s Maitre’D point-of-sale (POS) software package.

The new KDS is now POS agnostic, easy to integrate and sends orders to kitchen staff instantly. Its fully customizable order display screen simplifies order preparation and decreases the average prep time by implementing a unique system utilizing color in the display, creating accurate visual portrayal of any order.

At the Posera booth (#409), RetailNOW2017 attendees will have a chance to see a demonstration of these new KDS features firsthand:

  • Touch screen support – bumping by item or by order
  • Increase display modes from 6 to 20 orders on screen
  • Customizable colors
  • Increased active order storage, up to 100 orders
  • Remote access for support
  • Email alert system
  • Recipe Display

“Our KDS system delivers significant operational and cost efficiencies, including eliminating printers and paper based kitchen orders, for direct savings to our customers’ bottom line,” said Jean Guimond, Vice President of Sales, Posera. “We can now interface with virtually any POS system, and look forward to demonstrating these capabilities at this year’s RSPA event,” added Guimond.

 

###

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay®, which is an EMV compliant Pay-At-The-Table application. Posera’s Maitre’D® and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st, 2017 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

For more information:

Kevin Mills, Chief Financial Officer

1.519.434.8017

ir@posera.com
www.posera.com

 

Posera Announces 2017 Annual and Special Meeting Results

Toronto – June 29th, 2017 – (TSX : PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, is pleased to announce the results of the Company’s 2017 annual and special meeting of shareholders (the “Meeting”) held in Toronto, Ontario on June 28, 2017.  Posera is listed on the TSX under the symbol “PAY”.

At the Meeting, all director nominees listed in the Company’s management information circular dated May 12th, 2017 were elected as directors of the Company. The detailed results of the vote by ballot are as follows:

Director Vote Type Number of Votes Percentage of Votes (%)
Edwin Nordholm

 

For

Withheld

30,677,377

3,576,459

89.6

10.4

Paul Fornazzari

 

For

Withheld

30,208,510

4,045,326

88.2

11.8

Loudon Owen

 

For

Withheld

30,667,377

3,576,459

89.6

10.4

Michael Brown

 

For

Withheld

34,107,436

146,400

99.6

0.4

David Del Chiaro

 

For

Withheld

34,232,436

21,400

99.9

0.1

Gary Figueira For

Withheld

30,677,377

3,56,459

89.6

10.4

Tom McCole For

Withheld

34,117,436

136,400

99.6

0.4

 

In addition, at the Meeting, shareholders reappointed PricewaterhouseCoopers LLP, as auditors of the Company and approved the change of the Company registered office to 1106 Dearness Drive, Unit #4 London, Ontario N6E 1N9.

The Company also has posted the presentation from the annual and special meeting of shareholders on its Company website www.posera.com in the Investor Relations section.

The formal report of voting results with respect to all matters voted upon at the Meeting was filed on SEDAR at www.sedar.com.

 

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay®, which is an EMV compliant Pay-At-The-Table (PATT) application. Posera’s Maitre’D® and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st 2017 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For more information:

Kevin Mills, Chief Financial Officer

1.519.434.8017

kmills@posera.com
www.posera.com

 

 

Posera Announces Distribution Agreement with Solink

Toronto, ON – May 30, 2017 – Posera Ltd. (TSX : PAY) a leading provider of mission critical software solutions for the hospitality industry, today announced a distribution agreement with Solink, a leader in the Security as a Service space, to distribute their video recording and loss prevention solution throughout Posera’s vast install base.

Posera is proud to announce a reseller partnership with Solink to offer a cloud-based subscription solution for video recording and loss prevention to Posera’s 30,000+ customer base. This partnership will empower Posera’s hospitality customers to proactively tackle theft in their stores while expanding the use of surveillance video to improve operations and management.

Solink’s solution matches in-store transactions to corresponding video, providing store owners with multiple data points to search for and track important events such as voids, discounts, no sales, refunds and cash transactions. This eliminates the need to manually search for events in video by time and location. When the software identifies an outlier, it will notify the owner or manager who can then open the Solink app on their mobile device or laptop and review the incident. Other features include email digests reports, ability to share video via email or text message, case management, and live chat for customer support.

“Our customers will benefit greatly from the monthly recurring service model as it requires a low up-front capital expenditure to upgrade their existing legacy solution and IP based security video cameras to Solink’s cloud based solution,” said Dan Poirier, Chief Executive Officer of Posera Ltd.

“We’re excited to combine Posera’s reputable point-of-sale technology and customer service with the security solution that we’ve built, specifically for the hospitality industry,” said Mike Matta, Chief Executive Officer of Solink.

 

 

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About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay®, which is an EMV compliant Pay-At-The-Table (PATT) application. Posera’s Maitre’D® and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

About Solink

Solink was founded in 2009 to tackle ATM fraud with a focus on making video a proactive source of insight. Since then, the company has developed a cloud-based security and loss prevention solution that is deployed in thousands of locations in the quick service, retail and financial space. Solink is headquartered in Ottawa, Canada. For more information visit solinkcorp.com

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st, 2017 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For more information:
Kevin Mills, Chief Financial Officer

1.416.703.6462 ext. 2203

ir@posera.com
www.posera.com

 

 

Posera Announces Partnership with Ingenico Group for the Integration of its SecureTablePay Pay-at-the-Table Solution

TORONTO, May 19, 2017, Posera Ltd. (TSX : PAY), a leading provider of software solutions for the hospitality industry, announced its partnership with Ingenico Group, the global leader in seamless payment, for the launch of Posera’s SecureTablePay® Pay-at-the-Table solution in the US market.

One of the biggest trends in the hospitality industry is the ability to accept card payments at the point of service via mobile payment devices. This capability has existed in many markets, such as Europe and Canada, for many years, and now increasingly, casual dining and table service restaurants in the US are adopting wireless terminals to offer Pay-at-the-Table convenience to their patrons. Ingenico Group and Posera provide an ideal solution to restaurants with the launch of Posera’s SecureTablePay on Ingenico Group’s wireless smart terminals, such as the iWL250.

This combined Ingenico Group hardware and Posera software solution not only increases convenience for the customer, but also increases efficiency for the restaurant and the server, allowing the server to spend more time on the floor with the customer and reducing the steps and time it takes to close a check.  All that with added security including acceptance of EMV chip cards and NFC/contactless payments such as Apple Pay and Android Pay, and point-to-point encryption (P2PE) and tokenization, protecting customers and ensuring PCI compliance.

“There are over half a million restaurants in the US who have or will be adopting EMV standards over the next few years, and will need the ability to accept payments at the point of service.  By combining the Posera’s solution with our wireless smart terminals, SecureTablePay enables restaurant payments that provide greater security and better customer service to American restaurants and their patrons,” said Howard Finch, vice president, sales at Ingenico Group, North America.

EMV-enabled Pay-at-the-Table solutions give customers the peace of mind of added security as the payment device is brought to them at the point of service. Customers can safely and easily use their chip cards, with either a PIN or signature, right from their seats. This embraces a core principle of better card security, which consumers are hearing about more frequently: never relinquish possession of your payment card, even temporarily. This combination of powerful security and faster, more convenient checkouts makes paying at the table with wireless terminals the ideal approach to satisfy hospitality customers.

“We have partnered with Ingenico for close to 10 years in Canada and are excited to launch SecureTablePay with them in the US,” said Dan Poirier, Chief Executive Officer for Posera.  “Our customers have found Ingenico wireless devices to be very durable and customer-friendly, with an incredible coverage range and battery life.  We believe partnering SecureTablePay with Ingenico’s mPOS devices provides the best possible pay-at-the-table solution to restaurants in the US,” added Poirier.

If you’d like to learn more about Ingenico Group and Posera’s SecureTablePay Pay-at-the-Table solution and the latest payment technologies, please visit the Ingenico Group booth (#10919) during the National Restaurant Association show, May 20-23, 2017 in Chicago, IL.

 

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About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s MaitreD’® and FingerPrints® restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.  More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

For more information:
Kevin Mills, Chief Financial Officer

1.519.434.8017

ir@posera.com
www.posera.com

 

 

 

Posera Announces Partnership with Vantiv and the Certification and Launch of SecureTablePay in the US Market

TORONTO, May 18, 2017 – Posera Ltd. (TSX : PAY), a leading provider of software solutions for the hospitality industry, announced today the completion of certification with Vantiv, the largest payment processor in the U.S., for Posera’s pay-at-the-table (PATT) solution, SecureTablePay®.

Posera’s SecureTablePay is a middleware that allows customers to pay at the table in an easy, efficient, secure and EMV compliant manner. With SecureTablePay the server only needs to go to the POS workstation once – to place the order.  Pulling up the check, accepting and authorizing payment, and closing the table with full reconciliation to the POS is done directly at the table.  This allows the server to spend more time on the floor with customers, and the credit or debit card never leaves the customer’s hands increasing security and reducing the opportunity for fraud, creating the perfect balance of greater security and increased efficiency.

“SecureTablePay is a great option for pay-at-the-table functionality,” said Matt Downs, Head of Channel and Business Development Integrated Payments at Vantiv. “With ongoing data breaches and attacks,

SecureTablePay provides restaurant guests with a new level of security by utilizing both EMV chip technology and point-to-point encryption. We are excited to partner with Posera to bring this technology to the U.S. market.”

SecureTablePay has been proven for over 10 years with thousands of installations and is already integrated to most of the leading restaurant point-of-sale (POS) applications in North America, and is now ready to launch into the US market this June.

“We are very excited about the completion of our first certification with SecureTablePay in the U.S., especially since it is with Vantiv. Given their focus and penetration in the hospitality industry, Vantiv is the perfect partner for us to pilot and then launch SecureTablePay in the U.S.,” said Dan Poirier, Chief Executive Officer for Posera. “Once customers and merchants realize how simple and efficient it is to pay at the table, we expect this will become the standard that customers will demand,” added Poirier.

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About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s MaitreD’® and FingerPrints® restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

For more information:
Kevin Mills, Chief Financial Officer

1.519.434.8017

ir@posera.com
www.posera.com

 

Posera Announces First Quarter 2017 Financial Results

Toronto, ON – May 15th, 2017 – Posera Ltd. (TSX : PAY) (“POSERA” or the “Company”), a leading provider of software and payment solutions for the hospitality industry, today announced its financial results for the three-months ended March 31st, 2017.

During the three-months ended March 31, 2017, Posera recognized $3,947,807 in total revenues(1), a decrease of $467,066 or 10.6% and an increase of $68,668 or 1.8% when compared to the three-months ended March 31, 2016 and December 31, 2016 respectively.

Posera experienced a normalized EBITDA loss(2) for the three-months ended March 31, 2017 of $1,166,382, an increase in the loss of $620,185 (113.5%) and a decrease in the loss of $241,195 (17.1%), for the three-months ended March 31, 2016 and December 31, 2016 respectively. The increase in the loss between the first quarter comparable periods is due to the decrease in sales revenue and gross profit generated by the Company. Additionally, operating expenses were higher between the comparable periods when normalizing for restructuring expenditures, but the balance of this increase was non-cash in nature through the expensing of stock-based compensation.

During the three-months ended March 31, 2017, Posera recognized a net loss(2) of $1,797,233, an increase in the loss of $248,109 (16.0%) from a loss of $1,549,124 for the three-months ended March 31, 2016, and a decrease in the loss of $489,591 (21.3%) from a loss of $2,283,824 for the three-months ended December 31, 2016.

The Company will hold a conference call on Tuesday, May 16th, 2017 to discuss the financial results for the year and three-months ended March 31, 2017, at 1:00 PM Eastern Standard Time hosted by Loudon Owen, Executive Chair, Dan Poirier, Chief Executive Office and Kevin Mills, Chief Financial Officer. A question and answer session will follow the corporate update.

CONFERENCE CALL DETAILS

Date: Tuesday, May 16th, 2017

Time: 1:00 PM Eastern Standard Time

Participant Dial-in Numbers:

Local – Toronto (+1) 647-427-7450

Toll Free – North America (+1) 888-231-8191

Conference ID: 23248593

(1) Amount presented applies the retrospective presentation for discontinued operations for the Zomaron transaction as discussed in this MD&A on Page #3-4 of the Company’s Management Discussion and Analysis for the year and three-months ended March 31, 2017.

(2) Presentation of these amounts include the results from discontinued operations as discussed on Page #3-4 of the Company’s Management Discussion and Analysis for the year and three-months ended March 31, 2017.

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s MaitreD’TM and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st 2017 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For more information:
Kevin Mills, Chief Financial Officer

1.519.434.8017

kmills@posera.com
www.posera.com

Actus Data and Posera Launch the Posera Advanced Reporting Solution at NRA

Denver, Colorado — May 4, 2017 — Actus Data, a leading provider of artificial intelligence (AI) and advanced data analytics for the restaurant industry, along with Posera Ltd., a leading provider of hospitality point-of-sale software solutions, today announced that the launch of the Posera Advanced Reporting Solution will be at the National Restaurant Association (NRA) conference in Chicago, IL on May 20-23, 2017.

The Posera Advanced Reporting Solution is built on the cloud-based Actus Data Smart Restaurant Solution platform and includes interactive dashboards and reports as well as access to advanced AI and analytics capabilities that are robust enough to serve customers as their needs and sophistication grow.

“Actus Data is thrilled to be partnering with Posera to provide in-depth reporting and analytics to their customers,” said Paul Konkel, Chief Executive Officer of Actus Data. “With Posera Advanced Reporting, customers get a powerful, flexible, and affordable analytics solution designed from the ground up to tackle Big Data challenges today and for years to come,” added Konkel.

“To thrive in today’s data rich restaurant environment, it is necessary to move beyond static queries, downloads, and spread sheets that have defined restaurant reporting for decades. By working with Actus Data, we are providing our customers the capabilities they need to make better decisions and deliver data-driven results,” said Dan Poirier, Chief Executive Officer of Posera Ltd.

Visit Actus Data and Posera in booth 6383 at NRA to see the Posera Advanced Reporting Solution first hand.

About Actus Data

Actus Data is a cutting-edge data science as a service business committed to providing the most advanced, comprehensive, and affordable restaurant analytics solutions available. We are data experts with significant business experience who are laser focused on customer success and passionate about delivering value. Our Smart Restaurant Solution powers Posera Advanced Reporting as well as the AI and advanced predictive and prescriptive analytics that will give you everything you need to transform your data into action.

About Posera

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay®, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s Maitre’D® and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software, and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages. For more information, visit www.posera.com

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

Media Contact

Courtney Duffy

720-588-8180

info@actusdata.com

Posera Announces the Successful Launch of its Integrated POS Solution for World-class Hotels

TORONTO, April 19, 2017 /CNW/ – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of hospitality point-of-sale (POS) software solutions, today announces the launch of its integrated POS solution for the hotel industry as a new major strategic initiative.

As the hotel industry represents an enormous growth opportunity for the hospitality market, Posera has developed a targeted POS solution to answer the demand. Posera has demonstrated these capabilities at the International Hotel Technology Forum in Paris, April 5-7, 2017 to hundreds of hoteliers leading operations, management, and technology investments globally.

Prestigious hotel properties in Paris, Strasbourg, Barcelona, Luxembourg and more throughout Europe have selected Maitre’D® to replace their outdated and unsupported POS software for the following reasons:

  • Integrates with major Property Management Systems across 16 revenue categories;
  • Includes a user friendly modular back-office for instantaneous menu updating and employee management; and
  • The Databoard™ app allows for real-time alerts and reporting, from the POS, directly to iOS and Android mobile phones.

“The pressing needs of the hotel industry are clear, as hotels worldwide seek to compete with rivals in the food and beverage industry, along with their traditional competitors. Guests demand the same level of professionalism and quality across all services and this market is fiercely competitive both for guests and incremental food and beverage revenue”, said Dan Poirier, Chief Executive Officer. “We provide a fully integrated POS solution to some of the largest and most prestigious hotel brands worldwide. We are delighted to announce that 11 hotel installations have already been completed in a short 120 days, as part of Posera’s initiative to expand into the global hotel market,” added Poirier.

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s Maitre’D® and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages. For more information, visit www.posera.com

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

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Ackroo Integrates with Posera’s SecureTablePay Pay-at-the-table Solution

OTTAWA, ONTARIO – April 7th, 2017 – Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) (“Ackroo”), a gift card, loyalty and rewards technology and services provider, announced the launch of their latest advancement to the Ackroo Anywhere platform with integration to Posera’s SecureTablePay (“STP”) middleware “pay-at-the-table” solution. This development will provide current and prospective Ackroo customers the opportunity to process gift card and loyalty transactions on wireless terminals that integrate to various point-of-sale (“POS”) software solutions, and will provide merchants who use Posera’s STP payment solution to accept Ackroo gift cards as a form of payment in the STP wireless payment terminal. Before this advancement, Ackroo merchants who utilized integrated wireless terminals in environments like restaurants would be required to fund and redeem gift card and loyalty transactions at one of the main POS stations instead of via wireless terminals that a server would bring to the table. In the restaurant environment, this process isn’t ideal for staff or customers, and integration represents a significant enhancement for this merchant segment. This advancement not only assists merchants who use hard cards from Ackroo for gift and loyalty but also those that will deploy Ackroo’s new mobile application as their new Pay Code system (Ackroo’s proprietary solution that allows stand alone terminals to accept mobile payments) will support “pay-at-the-table” for mobile as well. This is a leading-edge solution provided by Ackroo and Posera to better support the hospitality industry.
 
The solution will be available for deployment by Ackroo merchants initially using First Data terminals only. In the future, other processing partners may be included, however, the initial joint venture is between First Data, Ackroo, Posera’s STP, and the various POS systems affiliated with the STP solution.
 
“Pay-at-the-table is a very important enhancement needed for the restaurant segment,” said Steve Levely, Chief Executive Officer at Ackroo. “Restaurants are constantly looking for ways to improve the customer experience while also reducing operational strain on their staff. Pay-at-the-table technology supports that ask in a secure and easy to use manner and since most casual and fine dining restaurants have moved to this method of accepting debit and credit payment, we also wanted to be able to support our gift card and loyalty payments being accepted this way. This advancement also assists our mobile strategy. Via Ackroo’s Pay Code system, within the white labelled mobile application, consumers can use their mobile devices to redeem at the table through the handheld terminals. The solution will be launched initially for First Data terminals only providing yet another competitive advantage for our channel partner to offer Ackroo to their current and prospective merchant base. Very exciting enhancement for Ackroo, First Data, Posera, the various POS partners involved, and our merchants.”
 
“Enabling customers to pay-at-the-table improved convenience and security for customers and efficiency for the restaurant industry, and now paying at the table got even better,” said Dan Poirier, Chief Executive Officer of Posera. “This new partnership between our SecureTablePay solution and Ackroo, will enable customers to pay using gift cards or redeem their loyalty points right at the table.  Regardless of your method of payment, SecureTablePay will allow customers to pay quickly and securely. In fact, customers will even be able to split their payment between the different payment methods right at the table.”
 
In addition, Ackroo announces that it has cancelled 450,000 existing incentive stock options at various strike prices and has granted options to purchase 400,000 common shares to directors, officers, employees, and consultants of the Company exercisable at a price of $0.20, for a period of 3 years.  The grant is subject to the approval of the TSX Venture Exchange.

 

About POSERA
 
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
 
Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s Maitre’D™ and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages. For more information, visit www.posera.com
 
Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.
 
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

About Ackroo
 
Founded in 2012, Ackroo provides gift card and loyalty processing solutions to help retail and hospitality merchants attract, retain and grow their customers and their revenues. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card & loyalty transactions at the point-of-sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.

 

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Posera Ltd. Announces Launch of Posera Technology in the Philippines and Broadcasts Timing of a Business Update Conference Call

TORONTO, April 5th, 2017 /CNW/ – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of mission critical software solutions for the hospitality industry announced today that it has successfully deployed its Point-of-Sale (“POS”) software technology in the Philippines, leveraging the International expansion of a major customer.

“We are delighted to have had a successful launch in the Philippines which will be a reference account for our broader expansion throughout Asia. This deployment was achieved on an aggressive schedule which is a testimonial to the versatility of our product, dedication of our employees and the confidence of our customer and their local partner.” said Paul Schafer, Vice President of Major Accounts.

“Posera has a deep expertise in providing technology solutions for the Quick Service Restaurant (“QSR”) industry and Posera’s successful launch confirms that our QSR POS solutions that have been proven in North American and Europe are also suited to the fastest growing markets, including Asia. Posera has made a significant investment to establish this beachhead in Southeast Asia, which will provide a launching pad to the rest of Asia. Posera has thousands of QSR locations deployed worldwide, with concentrations in Europe and North America. This demonstrates that our POS products are well suited to International growth in the economies of Asia, Africa, Central and South America, as our products have been built from inception with a multi-lingual approach,” said Dan Poirier, Chief Executive Officer.

Transparency Market Research (“TMR”) estimates(1) that the global fast food market is expected to grow to $617.1 billion USD by 2019 from $477.1 billion USD in 2013. Further TMR predicts that growth will be accelerated in the emerging regions, such as Asia, Africa, Central and South America, because of favourable demographics, increasing disposable income and greater urbanization. These trends have spearheaded Posera’s approach to focus on these developing markets and expand our footprint beyond North America and Europe.

The Company will hold a conference call on Friday, April 7th, 2017 to discuss the financial results for the year and three-months ended December 31, 2016, at 11:00 AM Eastern Standard Time hosted by Loudon Owen, Executive Chair, Dan Poirier, Chief Executive Office and Kevin Mills, Chief Financial Officer. A question and answer session will follow the corporate update.
 

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.

Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s Maitre’D™ and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages. For more information, visit www.posera.com

Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

References

  1. Transparency Market Research: Global Fast Food Market will be worth US$617.6 billion by 2019, September 29, 2016

 

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Posera Announces Appointment of Mr. Dan Poirier as Chief Executive Officer

Toronto, ON – January 30th, 2017 – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, today announced that its Board of Directors has appointed Mr. Dan Poirier as its Chief Executive Officer (“CEO”) effective immediately.

Mr. Poirier has served as Chief Operating Officer since July, 2016. He has already been responsible for the transformation of the Company’s sales and customer service organization from regional operating teams into a single, global operating platform and has been leading several international expansion initiatives.
Mr. Loudon Owen Chair of the Company’s Board of Directors will remain with Posera on a full-time basis as Executive Chair. In this role, Mr. Owen will focus on strategic planning and major customer accounts, as well as supporting Mr. Poirier as CEO.
Mr. Poirier is an accomplished global technology business executive and brings a broad range of experience to his new role at Posera. He was previously the Sr. Vice President, Networks and Devices for ORBCOMM Inc. from January, 2015 to June, 2016. Prior to that he was the Senior Vice President of Global Sales and Operations for Skywave Mobile Communications Inc. (“Skywave”) (acquired by ORBCOMM Inc. January, 2015) from November, 2006 to January, 2015. Mr. Poirier held roles of increasing responsibility during his time at Skywave, ranging from operations to global business leadership and sales and marketing. Mr. Poirier holds a Bachelor of Science (Engineering) degree and an MBA for Science and Technology both from Queen’s University.
Mr. Owen, commented, “I am very pleased to announce Dan’s appointment as Chief Executive Officer of Posera. Dan brings a remarkable skill-set and experience that will transform the Company. Dan is a known commodity in the technology industry and we could not be more delighted to have him lead the Posera team during its next stage of growth.”
 
About POSERA
Posera has been a leading provider of mission critical hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s MaitreD’TM and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.
Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current
expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 30th,2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

For further information:

Kevin Mills, Chief Financial Officer,

1.416.703.6462 ext. 2203,

kmills@posera.com

www.posera.com

 

Investor Relations Contact:

Caleb Jefferies,

1.604.684.6730

Posera Completes $2.3 million Private Placement of Common Shares

TORONTO, Jan. 20, 2017 /CNW/ – Loudon Owen, CEO and Chairman of Posera Ltd. (“Posera” or the “Company”), is pleased to report that Posera has closed a non-brokered private placement of common shares (“Common Shares”). Under the private placement, the Company issued a total of 18,899,997 Common Shares at a price of $0.12 per Common Share (the “Offering”) for gross proceeds of $2,268,000. Posera paid finders fees in the aggregate amount of $71,098 in connection with certain subscriptions for Common Shares, representing 6.0% of the gross proceeds of such subscriptions.

Certain Common Shares issued in connection with the Offering are subject to a 4-month hold period which expires on May 21, 2017.
The proceeds from the Offering are being used to increase the working capital of the Company. The Common Shares have been conditionally approved for listing on the Toronto Stock Exchange (“TSX”).
The Common Shares are listed on the TSX under the symbol “PAY”.
 
About POSERA
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table application. Posera’s MaitreD’TM and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 “US Securities Act”) or any state securities laws and may not be offered or sold within the United States 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.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.
Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company’s business and the environment in which the business operates. These statements include, but are not limited to, the expected size and completion date of the Offering, participation in the Offering by certain insiders, and the use of proceeds from the Offering. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forwardlooking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including general market conditions as they relate to the Company’s Shares, and the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 30, 2016 with the securities regulatory authorities and available on SEDAR. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

For further information:

Kevin Mills, Chief Financial Officer,

1.416.703.6462 ext. 2203,

kmills@posera.com

www.posera.com

 

Investor Relations Contact:

Caleb Jefferies,

1.604.684.6730

Posera Announces Non-Brokered Private Placement of Common Shares

TORONTO (January 9, 2017) – Posera Ltd. (TSX: PAY) (“Posera” or the “Company”) today announces that it is undertaking a non-brokered private placement of up to 18,900,000 common shares of the Company (“Shares”) at a price of $0.12 per Share, for aggregate gross proceeds of up to $2,268,000 (the “Offering”). Closing of the Offering is expected to take place on or about January 20, 2017.

It is anticipated that the net proceeds of the Offering will be used for working capital and general corporate purposes. The Shares sold pursuant to the Offering will be subject to resale restrictions under applicable securities laws, including a statutory hold period of four months. The Offering is subject to the approval of the Toronto Stock Exchange.
The Company may pay finder’s fees to certain qualified eligible persons assisting the Company in the Private Placement in an amount not to exceed 6% of the gross proceeds of the subscriptions from subscribers introduced to the Offering by such finders.
Certain insiders of the Company may acquire Shares in the Offering. Any participation by insiders in the Private Placement would constitute a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the Shares subscribed for by the insiders, nor the consideration for the Shares paid by such insiders, would exceed 25% of the Company’s market capitalization.
The Company will file a material change report in connection with the Offering less than 21 days before the expected closing date of the Offering, which the Company deemed reasonable in the circumstances to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.
The securities being offered pursuant to the Private Placement have not been, and will not be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
 
About POSERA
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-TheTable (“PATT”) application. Posera’s Maitre’D™ and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services,
merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.
Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company’s business and the environment in which the business operates. These statements include, but are not limited to, the expected size and completion date of the Offering, participation in the Offering by certain insiders, and the use of proceeds from the Offering. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forwardlooking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including general market conditions as they relate to the Company’s Shares, and the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 30, 2016 with the securities regulatory authorities and available on SEDAR. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

For further information:

Kevin Mills, Chief Financial Officer,

1.416.703.6462 ext. 2203,

kmills@posera.com

www.posera.com

 

Investor Relations Contact:

Caleb Jefferies,

1.604.684.6730

Posera Announces Chairman and CEO, Loudon Owen Purchased 4,000,000 Common Shares of Posera Ltd.

TORONTO, Jan. 3, 2017 /CNW/ – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, is pleased to announce that its Chairman and CEO, Mr. Loudon Owen has recently purchased a total of 4,000,000 Common Shares of the Company. Today’s announced purchase is in addition to Mr. Owen’s October, 2016 purchase of 784,747 Posera Common Shares. The purchases were all executed through a private corporation controlled by Mr. Owen. Specific details are disclosed in Mr. Owen’s filings made on SEDI on January 3rd, 2017.

About POSERA
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s MaitreD’TM and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

For further information:

Kevin Mills, Chief Financial Officer,

1.416.703.6462 ext. 2203,

kmills@posera.com

www.posera.com

 

Investor Relations Contact:

Caleb Jefferies,

1.604.684.6730

2016

Posera Announces Appointment of Mr. Tom McCole to Board of Directors

Toronto, ON – December 20, 2016 – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of mission critical software solutions for the hospitality industry, today announced the appointment of Mr. Tom McCole to the Company’s Board of Directors, effective January 1, 2017.

“Tom will be a tremendous addition to our Board of Directors,” said Loudon Owen, Chairman of the Board of Directors of Posera. “His technical knowledge and operational experience in the payment industry will be invaluable to Posera given the rapidly evolving payments industry, such as the adoption of EMV and continued concerns of fraud and security. Additionally, Tom’s experience with the payment processors will be crucial to the Company’s’ deployment of our SecureTablePay Pay-at-the-Table (“PATT”) solution in the United States.

Mr. McCole, has had an accomplished career as a payments technology executive and brings a broad range of industry experience to the Board of Directors at Posera. Mr. McCole currently employed by Infinite Peripherals, Inc. as their Mobile Commerce Strategy Director. Previously, Mr McCole was a special consultant to Bob Carr, the Chairman and CEO of Heartland Payments Systems Inc. (“Heartland”), where he was charged with developing Heartland’s integration strategy for Restaurant Management Systems (“RMS’s”) and for creating a multi-product margin stack model for the Company. Global Payments Inc. acquired Heartland in April, 2016 for $4.3 billion USD. McCole also served as a principal for Atomic Mobile Payments in Dawsonville, Ga., and was a vice president of Hypercom Solutions Group in Scottsdale, Ariz. Based out of Atlanta, Georgia, Tom has a Bachelor of Arts degree in history from Florida Atlantic University.

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s MaitreD’™ and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

Forward-Looking Statements

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 30th 2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For further information:

Kevin Mills, Chief Financial Officer,

1.416.703.6462 ext. 2203,

kmills@posera.com

www.posera.com

 

Investor Relations Contact:

Caleb Jefferies,

1.604.684.6730

POSERA Announces Chairman and CEO, Loudon Owen Purchased 784,747 Common Shares of Posera Ltd.

Toronto, ON – October 25th, 2016 – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, is pleased to announce that its Chairman and CEO, Mr. Loudon Owen has recently purchased a total of 784,747 Common Shares of the Company at the current closing market price of $0.185. The purchases were all executed through a private corporation controlled by Mr. Owen. Specific details are disclosed in Mr. Owen’s filings made on SEDI on October 24th, 2016.

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s MaitreD’™ and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

 

 

For further information:

Kevin Mills, Chief Financial Officer,

1.416.703.6462 ext. 2203,

kmills@posera.com

www.posera.com

 

Investor Relations Contact:

Caleb Jefferies,

1.604.684.6730

POSERA Announces a Second SecureTablePay Distribution Agreement with a Leading US Payments Processor

TORONTO, September 8, 2016 /CNW/ – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, announces it has signed its second SecureTablePay non-exclusive distribution agreement with one of the largest payment processors in the United States. The agreement will generate initial license fees and monthly recurring revenues for POSERA.

Posera expects the solution to be available once technical certification is completed in approximately 3 months. Upon completion of the technical certifications and when the US Payment Processing partner is ready to launch the SecureTablePay solution, Posera and the US Payment Processor will circulate a joint press release.

SecureTablePay application enables safe, secure and stable ”Pay-at-the-Table” (“PATT”) capabilities. Posera has many years of Canadian and international success in the EMV Chip and PIN1 business. SecureTablePay has a unique and leading architecture, which provides both convenience and security. The SecureTablePay platform is already integrated to most of the leading Restaurant Point-of-Sale applications worldwide. SecureTablePay is:

  1. Unique Architecture & Rapid Implementation: It is the only semi-integrated EMV1 and Contactless application allowing restaurant wait-staff to totally manage payments, split checks, tips and tables, remotely from a wireless payment terminal. SecureTablePay also incorporates Chip and Signature, PIN based Debit, Gift Cards, Tap and Pay by Phone with end-to-end encryption for the US market. The semi-integrated approach requires less development effort, and a reduced Payment Card Industry (“PCI”) scope, enabling a vastly compressed time to market
  2. Secure: SecureTablePay provides the extraordinary convenience of paying at the table for both restaurant wait-staff and their customers. The card never leaves the Cardholder’s hands reducing the risk of fraud for both the merchant and cardholder. It also provides a secure solution to the enormous security challenges and financial risks that merchants now face due to the October 2015 liability shift imposed by the payment processors. This shift transfers the liability to the retail / restaurant merchants for chargebacks relating to fraudulent transactions, where previously chargebacks were a cost incurred by the processor.
  3. Market-Ready: SecureTablePay is integrated to 20 of the largest Restaurant Point-of-Sale applications worldwide and our solution is already installed in several thousand hospitality merchants across Canada.
  4. Independent Evolution: Secure Table Pay allows the POS and Payments Processing to evolve independently in this dynamic industry without the need for re-certification as the US industry evolves through its payment security process.
  5. Improved Efficiency and Profitability: Secure Table Pay improves speed and accuracy in the Restaurant reducing Tip Adjust errors, improving wait-staff efficiency while increasing Table Turn Rates and profits for merchants, leading to a better overall customer experience.

The market opportunity for this solution is immense, with over 635,000 restaurants in the United States that would benefit from the use of the SecureTablePay technology.

Posera’s CEO Loudon Owen said, “The historically pervasive fraud and theft of customer identity is simply unacceptable and unfair to merchants and customers alike. Our solution wages war on the criminals and puts the power and control back in the hands of the merchants and consumers. We are particularly pleased to have completed our second SecureTablePay distribution agreement with another prestigious US payment processor and further confirms acceptance of our leading solution. We anticipate that once the technical certification is complete and our partners sales force is up and running, we will accelerate our penetration into the US marketplace. Owen added, “Once customers and merchants realize how easy and convenient it is to pay-at-the-table, we expect this will become the “Standard” that customers will demand.”

  1. Industry Terminology Explained: EMV (“Europay, MasterCard and Visa”) is a technical standard for smart payment cards, payment terminals and ATM’s (“Automated Teller Machines”). Payment cards that comply with the EMV standard are often called Chip and PIN or Chip and Signature cards, depending on the exact authentication methods required to use them. Chip and PIN is the most secure type of technology for credit and debit cards transactions. Rather than physically signing a receipt for identification purposes, the user enters a four-digit Personal Identification Number (“PIN”). This number must correspond to the information that is stored on the Chip. Chip and PIN technology makes it much harder for fraudsters to replicate, therefore if a customer’s card is stolen, there will be no fraudulent purchases unless the criminal knows their four-digit PIN.

About POSERA

Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s MaitreD’TM and FingerPrintsTM restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual
Information Form to be filed on March 30th 2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For further information:

Kevin Mills, Chief Financial Officer,

1.416.703.6462 ext. 2203,

kmills@posera.com

www.posera.com

 

Investor Relations Contact:

Caleb Jefferies,

1.604.684.6730

POSERA Announces Resignation of Director Paul K. Howell

TORONTO, May 24, 2016 /CNW/ – Posera Ltd. (TSX : PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, today announced that Paul K. Howell has tendered his resignation as a member of the Board of Directors of Posera Ltd

Mr. Howell was one of the key contributors to Posera’s transformation since becoming a director and Chief Executive Officer of the organization in November, 2006. Mr. Howell stepped down from the role as Chief Executive Officer of Posera on September 25, 2015.

Loudon Owen, the Chairman of the Company’s Board of Directors, thanked Mr. Howell on behalf of the Board and the Company for his long-time dedication. “Paul has been an integral part of Posera for the past 9 years. We thank him for his commitment and leadership, and of course wish him well in all of his future endeavours.”

About POSERA

For more than 30 years, POSERA has been supporting merchant business success in the hospitality industry. POSERA is in the business of managing merchant transactions with consumers and facilitating all aspects of the payment transaction. Posera’s Maitre ‘DTM and FingerPrintsTM Point-of-Sale solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol “PAY”, POSERA’s full service solutions include integrated and non-integrated debit and credit processing, EMV compliant Pay-At-The-Table (“PATT”) applications, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

Posera’s POS system software solutions, associated enterprise management tools have been deployed in 25 countries and 8 different languages at over 30,000 merchant locations worldwide. POSERA’s direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 500 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. Posera’s success will continue to be driven by the Company’s unwavering objective to ensuring the business success of its growing base of merchant clients.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 30th,2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

SOURCE Posera Ltd.

 

For further information:

Kevin Mills, Chief Financial Officer,

1.416.703.6462 ext. 2203,

kmills@posera.com

www.posera.com

 

Investor Relations

Contact:Caleb Jefferies,

1.604.684.6730

Posera Announces First Quarter 2016 Financial Results

TORONTO, May 16, 2016 /CNW/ – Posera Ltd. (TSX:PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, today announced its financial results for the three-months ended March 31st, 2016.

During the three-months ended March 31, 2016, Posera recognized $4,419,134 in total revenues(1), an increase of $569,775 or 14.8% when compared to the three-months ended March 31, 2015 of $3,849,359.

During the three-months ended March 31, 2016 Posera incurred restructuring expenditures of $687,773 (2015 – $nil). The restructuring investments are expected to reduce expenditures, increase overall efficiency and financial performance of the Company in the long-term. Restructuring expenses are related primarily to operational consultants and reducing overall employee headcount through terminations.

Recurring revenues for the three-months ended March 31, 2016 were $1,746,609, an increase of $260,453 (17.5%) from recurring revenues of $1,486,156 for the three-months ended March 31, 2015.

Posera experienced a normalized EBITDA loss(2) for the three-months ended March 31, 2016 of $546,197, a decrease in the loss of $17,024 (3.0%), from a loss of $563,221 for the three-months ended March 31, 2015. The change in the normalized EBITDA loss was negligible between the comparable periods.

Discontinued Operations: Subsequent to March 31, 2016, on April 29, 2016 the Company completed the sale of all of the issued and outstanding shares in the capital of its wholly owned subsidiary Zomaron Inc. (“Zomaron”), to a company established by Zomaron’s current operating management team. To understand the current and comparative financial results included in this press release, please refer to the Company’s Financial Statement’s and Management Discussion and Analysis for the three-months ended March 31, 2016 where a detailed explanation and disclosures are presented for the Zomaron discontinued operation and the resulting impact to the Company’s consolidated results.

The Company will hold a conference call on Wednesday, May 18th, 2016 to discuss the financial results for the three-months ended March 31st, 2016, at 11:00 AM Eastern Standard Time hosted by Loudon Owen, Chief Executive Officer and Kevin Mills, Chief Financial Officer. A question and answer session will follow the corporate update.

Quarterly Highlights

  • Recurring revenues(1) for the three-months ended March 31, 2016 were $1,746,609, an increase of $260,453 (17.5%) from recurring revenues of $1,486,156 for the three-months ended March 31, 2015, and an increase of $74,946 (4.5%) from recurring revenues of $1,671,663 for the three-months ended December 31, 2015;
  • Total revenue(1) was $4,419,134 for the three-months ended March 31, 2016, an increase of $569,775 (14.8%) from $3,849,359 for the three-months ended March 31, 2015 and a decrease of $107,255 (2.4%) from $4,526,389 for the three-months ended December 31, 2015; and
  • Normalized EBITDA(2) profit(loss) for the three-months ended March 31, 2016 was a loss of $546,197, a decrease in the loss of $17,024 (3.0%) from a loss of $563,221 for the three-months ended March 31, 2015, and an increase in the loss of $333,947 (157.3%), from a loss of $212,250 for the three-months ended December 31, 2015.
(1) Amount presented applies the retrospective presentation for discontinued operations for the Zomaron transaction as discussed in the Company’s MD&A for the three-months ended March 31, 2016 on Page #3.
(2) Presentation of these amounts include the results from discontinued operations as discussed in the Company’s MD&A for the three-months ended March 31, 2016 on Page #3.

CONFERENCE CALL DETAILS

Date: Wednesday, May 18th, 2016
Time: 11:00 AM Eastern Standard Time

Participant Dial-in Numbers:
Local – Toronto (+1) 647-427-7450
Toll Free – North America (+1) 888-231-8191
Conference ID: 13558849

An archive of the conference call will be available by visiting the Company’s website at www.posera.com/investor-relations. Please connect at least 10 minutes prior to the conference call to ensure time for any software download that may be needed to hear the webcast.

About POSERA

For more than 30 years, POSERA has been supporting merchant business success in the hospitality industry. POSERA is in the business of managing merchant transactions with consumers and facilitating all aspects of the payment transaction. Posera’s Maitre ‘DTM and FingerPrintsTM Point-of-Sale solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol “PAY”, POSERA’s full service solutions include integrated and non-integrated debit and credit processing, EMV compliant Pay-At-The-Table (“PATT”) applications, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

Posera’s POS system software solutions, associated enterprise management tools have been deployed in 25 countries and 8 different languages at over 30,000 merchant locations worldwide. POSERA’s direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 500 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. Posera’s success will continue to be driven by the Company’s unwavering objective to ensuring the business success of its growing base of merchant clients.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 30th 2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

SOURCE Posera Ltd.

 

For further information:

Kevin Mills, Chief Financial Officer,

1.416.703.6462 ext. 2203,

kmills@posera.com

www.posera.com

 

Investor Relations

Contact:Caleb Jefferies,

1.604.684.6730

If you would like to be added to our POSERA press release email distribution list, provide your email below:

POSERA completes the Sale of Non-Core Asset Zomaron Inc.

Toronto, ON Posera Ltd. (TSX:PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, today announced it has completed the sale of all issued and outstanding shares in the capital of its wholly owned subsidiary Zomaron Inc., to a company established by Zomaron’s current operating management team.

Consideration for the Zomaron sale is comprised of cash, repayment of intercompany debt and the assumption of negative working capital by the purchaser, resulting in Posera’s working capital improving by approximately $4.5 million.

Posera’s CEO Loudon Owen said, “The disposition of this non-core asset is a very positive step. Not only does it fortify our balance sheet, but it also enables us to concentrate on growing our core business. Posera will use the proceeds to accelerate its program of SecureTablePay middleware partnerships in the USA, along with the continued expansion of its Point-of-Sale (“POS”) platforms, MaitreD’ and Fingerprints.”

About POSERA

For more than 30 years, Posera has been supporting merchant business success in the hospitality industry. Posera manages merchant transactions with consumers and facilitates all aspects of payment transactions. Posera’s Maitre’DTM and FingerPrintsTM Point-of-Sale (“POS”) solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol “PAY”, Posera’s full service solutions include integrated and non-integrated debit and credit processing, SecureTablePay which is an EMV compliant Pay-At-The-Table application, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

Posera’s POS system software solutions, associated enterprise management tools and debit/credit payment terminals have been deployed in 25 countries and 8 different languages at over 30,000 merchant locations worldwide. Posera’s direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 500 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. Posera’s success is driven by the Company’s unwavering commitment to the business success of its growing base of merchant clients.

About ZOMARON

Founded in 2008, Zomaron provides credit and debit card processing solutions, known as Merchant Processing, to merchants in Canada. Through its nationwide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth and has approximately doubled its merchant count since the Company’s acquisition in December of 2013.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 30th 2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For more information:

Kevin Mills, Chief Financial Officer

1.416.703.6462 ext. 2203

kmills@posera.com

www.posera.com

Investor Relations Contact:

Caleb Jefferies

1.604.684.6730

POSERA Announces Release of its SecureTablePay application, and a non-exclusive distribution agreement through a Leading US Payments Processor

Toronto, ON Posera Ltd. (TSX:PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, today announced it has released its SecureTablePay application enabling safe, secure and stable ‘Pay-at-the-Table’ capabilities. Posera has many years of Canadian and international success in the EMV Chip and PIN1 business.
SecureTablePay has a unique and leading architecture, provides both convenience and security and is already integrated to most of the leading Point-of-Sale applications. SecureTablePay is:

 (a) Unique Architecture & Rapid Implementation: It is the only semi-integrated EMV and Contactless application allowing restaurant wait-staff to totally manage payments, tips and tables, remotely from a wireless payment terminal. SecureTablePay also incorporates Chip and Signature, with end-to-end encryption for the US market. The semi-integrated approach requires less development effort, and a reduced Payment Card Industry (“PCI”) scope, enabling a vastly compressed time to market.

(b) Secure: SecureTablePay provides the extraordinary convenience of paying at the table for both restaurant wait-staff and their customers. It also provides a secure solution to the enormous security challenges and financial risks that merchants now face due to the October 2015 liability shift imposed by the payment processors. This liability shift imposes responsibility on merchants for chargebacks relating to fraudulent transactions.

(c) Market-Ready: SecureTablePay is integrated to 20 of the largest Point-of-Sale applications worldwide and our solution is already installed in several thousand hospitality merchants across Canada.

In addition, Posera is pleased to announce it has entered into a non-exclusive distribution agreement with a leading US payment processing company for its SecureTablePay application. While the distribution agreement will generate initial license fee revenues, it is primarily a recurring revenue model. The market opportunity for this solution is immense, with over 635,000 restaurants in the US that would benefit from the use of the SecureTablePay technology.

Posera’s CEO Loudon Owen said, “The US retail sector is reaching a threshold of indignation faced with a pervasive amount of fraud and theft of customer identity. Our solution wages war on the criminals and puts the power and control back in the hands of the retailers and consumers. We are particularly pleased to be at the forefront of this vital step in consumer protection and security and to be able to stand alongside a leading payment processor.” Owen added, “At the same time, customers are demanding the ability to pay at the table. As soon as customers experience it, we expect this will become a standard practice that customers will demand.”

   1) Industry Terminology Explained: EMV (“Europay, MasterCard and Visa”) is a technical standard for smart payment cards, payment terminals and ATM’s (“Automated Teller Machines”). Payment cards that comply with the EMV standard are often called Chip and PIN or Chip and Signature cards, depending on the exact authentication methods required to use them. Chip and PIN is the most secure type of technology for credit and debit cards transactions. Rather than physically signing a receipt for identification purposes, the user enters a four-digit Personal Identification Number (“PIN”). This number must correspond to the information that is stored on the Chip. Chip and PIN technology makes it much harder for fraudsters to replicate, therefore if a customer’s card is stolen, there will be no fraudulent purchases unless the criminal knows their four-digit PIN.

About POSERA

For more than 30 years, Posera has been supporting merchant business success in the hospitality industry. Posera manages merchant transactions with consumers and facilitates all aspects of payment transactions. Posera’s Maitre ’DTM and FingerPrintsTM Point-of-Sale (“POS”) solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol “PAY”, Posera’s full service solutions include integrated and non-integrated debit and credit processing, SecureTablePay which is an EMV compliant Pay-At-The-Table application, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

Posera’s POS system software solutions, associated enterprise management tools and debit/credit payment terminals have been deployed in 25 countries and 8 different languages at over 30,000 merchant locations worldwide. Posera’s direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 500 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. Posera’s success is driven by the Company’s unwavering commitment to the business success of its growing base of merchant clients.

More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 30th 2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

 

For more information:

Kevin Mills, Chief Financial Officer

1.416.703.6462 ext. 2203

kmills@posera.com

www.posera.com

Investor Relations Contact:

Caleb Jefferies

1.604.684.6730

POSERA Announces the Sale of Its Wholly Owned Subsidiary Zomaron Inc.

Toronto, ON Posera Ltd. (TSX:PAY) (“Posera” or the “Company”), a leading provider of software solutions for the hospitality industry, today announced it has executed an agreement with a group representing the current management team of Zomaron Inc. (“Zomaron”) for the sale of all issued and outstanding shares of its wholly-owned Zomaron subsidiary.

Pursuant to the terms of sale which is expected to close on April 29, 2016, Posera will receive cash consideration as well as the cash repayment of an intercompany debt, which is outstanding between Zomaron and Posera. Financial terms of the sale have not been disclosed.

Posera’s CEO Loudon Owen said, “We have built the Zomaron merchant portfolio since it was acquired in 2013, through organic growth and a diligent sales force. This transaction enables Posera to execute on its focused strategy of growing its software business. Posera will use the proceeds to invest in its widely deployed Point-of-Sale (“POS”) platforms, MaitreD’ and Fingerprints, and its secure Pay-at-the-Table middleware solution. Based on our excellent working relationship, Posera and Zomaron will continue to work together in expanding each other’s businesses following this management buyout.”

Zomaron President Tarique Al-Ansari, said, “Zomaron will continue to service its loyal Merchant Processing customers throughout Canada. We also look forward to maintaining our close working relationship with Posera as we each focus on our core businesses.”

About POSERA

For more than 30 years, POSERA has been supporting merchant business success in the hospitality industry. POSERA is in the business of managing merchant transactions with consumers and facilitating all aspects of the payment transaction. POSERA’s Maitre ’DTM and FingerPrintsTM Point-of-Sale solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol “PAY”, POSERA’s full service solutions include integrated and non-integrated debit and credit processing, EMV compliant Pay-At-The-Table (“PATT”) applications, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

POSERA’s POS system software solutions, associated enterprise management tools and debit/credit payment terminals have been deployed in 25 countries and 8 different languages at over 30,000 merchant locations worldwide. POSERA’s direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 500 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. POSERA’s success will continue to be driven by the Company’s unwavering objective to ensuring the business success of its growing base of merchant clients.
About ZOMARON

Founded in 2008, Zomaron provides credit and debit card processing solutions, known as Merchant Processing, to merchants in Canada. Through its nationwide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth and has approximately doubled its merchant count since the Company’s acquisition in December of 2013.

More information about POSERA can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 30th 2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

For more information:

Kevin Mills, Chief Financial Officer

1.416.703.6462 ext. 2203

kmills@posera.com

www.posera.com

Investor Relations Contact:

Caleb Jefferies

1.604.684.6730

POSERA Announces Annual and Fourth Quarter 2015 Financial Results

Toronto, ON Posera Ltd. (TSX:PAY) (formerly Posera-HDX Limited) (“POSERA” or the “Company”), a leading provider of software and payment solutions for the hospitality industry, today announced its financial results for the three and twelve-months ended December 31st, 2015.

In fiscal 2015, POSERA recognized $20,752,875 in revenues, an increase of $638,425 or 3.2% when compared to the year-ended 2014.

During the year-ended 2015 POSERA incurred restructuring expenditures of $662,512 (2014 – $nil) and incurred an impairment of $1,562,675 (2014 – $nil) to the goodwill allocated to the point-of-sale (“POS”) segment.

POSERA experienced a normalized EBITDA loss after adjusting for restructuring and the goodwill impairment, for the year-ended December 31, 2015 of $1,175,046, an increase in the loss of $1,162,586, from a loss of $12,460 for the year-ended December 31, 2014. The increase in the normalized EBITDA loss was mainly due to the loss resulting from the TMC acquisition, a slight margin compression in relation to the POS aspect of the business while realizing a small increase in costs of inventory and an adjustment in the recognition of director’s compensation.

The Company will continue to implement its restructuring efforts in order to achieve operational efficiencies with a view to obtain reduced expenditures and increased efficiencies leading to an overall improved financial performance. In addition, in order to grow its revenue streams the Company will introduce a range of new products and services both to its existing installed base and new potential customers.

The Company will hold a conference call on Friday, April 1st, 2016 to discuss the financial results for the three and twelve-months ended December, 31st, 2015, at 10:00 AM Eastern Standard Time hosted by Loudon Owen, Chief Executive Officer and Kevin Mills, Chief Financial Officer. A question and answer session will follow the corporate update.

Quarterly Highlights

  • Recurring revenues for the three-months ended December 31, 2015 was $2,281,878, an increase of $457,621 (25.1%) from recurring revenues of $1,824,257 for the three-months ended December 31, 2014, and a decrease of $15,955 (0.7%) from recurring revenues of $2,297,833 for the three-months ended September 30, 2015;
  • Total revenue was $5,649,436 for the three-months ended December 31, 2015, up $284,905 (5.3%) from $5,364,531 for the three-months ended December 31, 2014 and up $576,614 (11.4%) from $5,072,822 for the three-months ended September 30, 2015; and
  • Normalized EBITDA profit(loss) for the three-months ended December 31, 2015 was a loss of $212,250, an increase in the loss of $277,264 from profit of $65,014 for the three-months ended December 31, 2014, and a decrease in the loss of $62,282 from a loss of $274,532 for the three-months ended September 30, 2015.

Annual Highlights

  • Recurring revenues for the year-ended December 31, 2015 was $8,674,590, an increase of $1,284,534 (17.4%) from recurring revenues of $7,390,056 for the year-ended December 31, 2014;
  • Total revenue was $20,752,875 for the year-ended December 31, 2015, up $638,425 (3.2%) from $20,114,450 for the year-ended December 31, 2014; and
  • Normalized EBITDA loss for the year-ended December 31, 2015 was a loss of $1,175,046, an increase in the loss of $1,162,586 from a loss of $12,460 for the year- ended December 31, 2014.

CONFERENCE CALL DETAILS

Date: Friday, April 1st, 2016
Time: 10:00 AM Eastern Standard Time

Participant Dial-in Numbers:
Local – Toronto (+1) 647-427-7450
Toll Free – North America (+1) 888-231-8191
Conference ID: 80753108

An archive of the conference call will be available by visiting the Company’s website at www.posera.com/investor-relations. Please connect at least 10 minutes prior to the conference call to ensure time for any software download that may be needed to hear the webcast.

About POSERA

For more than 30 years, POSERA has been supporting merchant business success in the hospitality industry. POSERA is in the business of managing merchant transactions with consumers and facilitating all aspects of the payment transaction. POSERA’s Maitre ‘DTM and FingerPrintsTM Point-of-Sale solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol “PAY”, POSERA’s full service solutions include integrated and non-integrated debit and credit processing, EMV compliant Pay-At-The-Table (“PATT”) applications, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

POSERA’s POS system software solutions, associated enterprise management tools and debit/credit payment terminals have been deployed in 25 countries and 8 different languages at over 30,000 merchant locations worldwide. POSERA’s direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 500 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. POSERA’s success will continue to be driven by the Company’s unwavering objective to ensuring the business success of its growing base of merchant clients.

More information about POSERA can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

For Further Information:

Kevin Mills, Chief Financial Officer
1.416.703.6462 ext. 2203
kmills@posera.com
www.posera.com

Investor Relations Contact:
Caleb Jeffries
1.604.684.6730

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 30th 2016 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.

POSERA Changes Corporate Name to Posera Ltd.

Toronto, ON –  Posera (TSX:PAY), a leading provider of software and payment solutions for the hospitality industry, announced that effective January 1st, 2016, the Company has changed its Company name to Posera Ltd. from Posera-HDX Limited.

With the adoption of a new legal name, this continues the Company’s efforts to rebrand the Company and is an expression of the Company’s dedication to continuous innovation and exceptional customer service.

“POSERA’s re-branding represents our evolution and direction,” said Board Chair and CEO Mr. Loudon Owen. “This name reflects a new, streamlined era in our Point-of-Sale (“POS”) and related offerings during which we will accelerate the expansion of our products, services, and locations.”

About POSERA

For more than 30 years, Posera has been supporting merchant business success in the hospitality industry. Posera is in the business of managing merchant transactions with consumers and facilitating all aspects of the payment transaction. Posera’s Maitre ‘DTM and FingerPrintsTM Point-of-Sale solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol “PAY”, Posera’s full service solutions include integrated and non-integrated debit and credit processing, EMV compliant Pay-At-The-Table (PATT) applications, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

Posera’s POS system software solutions, associated enterprise management tools and debit/credit payment terminals are deployed in 25 countries and 8 different languages at over 20,000 merchant locations worldwide. Posera’s direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 560 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. Posera’s success will continue to be driven by the Company’s unwavering objective to ensuring the business success of its growing base of merchant clients.

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events.  These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st 2015 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

2015

POSERA Announces Q3-2015 Financial Results Conference Call

Toronto, ON – November 12th, 2015 – Posera-HDX Limited (TSX : PAY) (“POSERA” or the “Company”), will release its third quarter results of 2015 on Friday November 13th, 2015, after market close. The Company will subsequently hold a conference call on Monday November 16th, 2015, at 10:00 AM Eastern Standard Time hosted by Loudon Owen, Chief Executive Officer and Kevin Mills, Chief Financial Officer. A question and answer session will follow the corporate update.

CONFERENCE CALL DETAILS

Date: Monday, November 16th, 2015

Time: 10:00 AM Eastern Standard Time

Participant Dial-in Numbers:

Local – Toronto (+1) 647-427-7450

Toll Free – North America (+1) 888-231-8191

Conference ID: 75133397

An archive of the conference call will be available by visiting the Company’s website at www.posera.com/investor-relations. Please connect at least 10 minutes prior to the conference call to ensure time for any software download that may be needed to hear the webcast.

About POSERA

For more than 30 years, POSERA has been supporting merchant business success in the hospitality industry. POSERA is in the business of managing merchant transactions with consumers and facilitating all aspects of the payment transaction. POSERA’s Maitre ’DTM and FingerPrintsTM Point-of-Sale solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol “PAY”, POSERA’s full service solutions include integrated and non-integrated debit and credit processing, EMV compliant Pay-At-The-Table (“PATT”) applications, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

POSERA’s POS system software solutions, associated enterprise management tools and debit/credit payment terminals are deployed in 25 countries and 8 different languages at over 20,000 merchant locations worldwide. POSERA’s direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 560 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. POSERA’s success will continue to be driven by the Company’s unwavering objective to ensuring the business success of its growing base of merchant clients.

More information about POSERA can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events.  These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st 2015 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX Rebrands as “POSERA” and changes Ticker Symbol to”PAY” on the Toronto Stock Exchange (TSX)

TORONTO, Oct. 30th, 2015 /CNW/ – Posera, a leading provider of software and payment solutions for the hospitality industry, announced that effective today the Company has reserved and received the necessary approvals to change its ticker symbol from “HDX” to “PAY”, which is listed on the Toronto Stock Exchange. The Company will commence trading under the new ticker symbol “PAY” at the start of trading on Tuesday November 3rd, 2015.  In addition, the Company has announced that it will begin operating under the new trade name POSERA effective immediately.

With the adoption of its new ticker symbol and name, the Company has changed its logo and launched its redesigned website: https://www.posera.com. The rebrand is but one expression of the company’s dedication to continuous innovation and exceptional customer service.

“POSERA’s re-branding represents our evolution and direction,” said Chair and CEO Mr. Loudon Owen. “This name reflects a new, streamlined era in our Point-of-Sale (“POS”) and related offerings during which we will accelerate the expansion of our products, services, and locations.”

About POSERA

For more than 30 years, Posera has been supporting merchant business success in the hospitality industry. Posera is in the business of managing merchant transactions with consumers and facilitating all aspects of the payment transaction. Posera’s Maitre ‘DTM and FingerPrintsTM Point-of-Sale solutions are trusted by the top fine dining and quick-service hospitality brands around the world.

A TSX company trading under the symbol “PAY”, Posera’s full service solutions include integrated and non-integrated debit and credit processing, EMV compliant Pay-At-The-Table (PATT) applications, system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware customer support.

Posera’s POS system software solutions, associated enterprise management tools and debit/credit payment terminals are deployed in 25 countries and 8 different languages at over 20,000 merchant locations worldwide. Posera’s direct sales force is bolstered by a global dealership network of approximately 80 resellers which translates to approximately 560 representatives selling, supporting and installing its software and related products and services. Posera prides itself on its long and established track record of exceptional customer service and continued technological innovation. Posera’s success will continue to be driven by the Company’s unwavering objective to ensuring the business success of its growing base of merchant clients.

Forward-Looking Statements 

This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.  The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events.  These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st 2015 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX announces appointment of Interim CEO

TORONTO, Oct. 23, 2015 /CNW/ – Posera-HDX Limited (the “Company” or “Posera”) announces that Loudon Owen, Chairman of Posera has been appointed as Interim Chief Executive Officer. Mr. Owen has had extensive experience working with leading technology companies over the past 25 years, and has served on the Board of the Company since 2006. Posera-HDX is listed on the TSX under the symbol “HDX”.

About the Company
Posera is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera also provides system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware support services.

Posera leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter
space, limited retail square footage, and the absence of a drive through.

Posera develops, deploys, and supports a restaurant POS software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 85 value added reseller partners in 25 countries with approximately 550 reseller representatives selling, supporting &
installing its software.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st 2015 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX Announces Adoption of Advance Notice By-Law

TORONTO, Oct. 1, 2015 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announced today that its Board of Directors has adopted By-Law No. 2 of the Corporation (the “Advance Notice By-Law”) the purpose of which is to require advance notice to be provided to the Corporation in circumstances where nominations of persons for election to the Board are made by shareholders of the Corporation other than pursuant to: (i) a requisition of a meeting of shareholders made pursuant to the provisions of the Business Corporations Act (Ontario); or (ii) a shareholder proposal made pursuant to the provisions of that Act.

The Advance Notice By-law is similar to the advance notice by-laws adopted by many other Canadian public companies. The Corporation believes that the provision is considered to be good corporate governance. The purpose is to foster a variety of interests of the shareholders and the Corporation by ensuring that all shareholders, including those participating in a meeting by proxy rather than in person, receive adequate notice of the nominations to be considered at a meeting and can thereby exercise their voting rights in an informed manner. In addition, the Advance Notice By-Law should assist in facilitating an orderly and efficient meeting process, provides shareholders, directors and management of the Corporation with a clear framework for nominating directors. Specifically, the Advance Notice By-law requires advance notice to the Corporation in circumstances where nominations of persons for election as a director of Corporation are made by shareholders other than pursuant to a “proposal” made in accordance with the provisions of the Business Corporations Act (Ontario) (the “Act”) or a requisition of shareholders made in accordance with the provisions of the Act.

In the case of an annual meeting of the shareholders of the Corporation, notice to the Corporation must be made not less than 30 days before the date of the annual meeting; provided, however, in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting of shareholders (which is not an annual meeting), notice to the Corporation must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made. The amended by-laws, which includes the Advance Notice By-law, are effective immediately and will be placed before shareholders for ratification at the next meeting of shareholders of the Corporation. A copy of the Advance Notice By-Law will be available at www.sedar.com .

Posera-HDX is listed on the TSX under the symbol “HDX”.

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system
installation services, and post-sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Posera-HDX develops, deploys, and supports a restaurant POS software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 85 value added reseller partners in 25 countries with approximately 550 reseller representatives selling, supporting & installing its software.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st 2015 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX Chief Executive Officer Steps Down and Announces Expiry of Letter of Intent to Acquire Premier Payments Systems Inc.

TORONTO, Sept. 25, 2015 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announces that Paul K. Howell has stepped down as Chief Executive Officer effective immediately. Mr. Howell will continue as a director of the Company. An interim Chief Executive Officer will be appointed as soon as possible. The Board thanks Mr. Howell, who remains a significant shareholder of the Company, for founding the current organization and for leading it over a considerable period of time.

Additionally, the Company today announces that its letter of intent to acquire Premier Payments Systems Inc. (“Premier”) of Oak Brook, Illinois, USA has expired and the potential acquisition, originally announced on October 1, 2014, will not proceed.

Posera-HDX is listed on the TSX under the symbol “HDX”.

About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware support services.

HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter
space, limited retail square footage, and the absence of a drive through.

HDX develops, deploys, and supports a restaurant POS software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 85 value added reseller partners in 25 countries with approximately 550 reseller representatives selling, supporting &
installing its software.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st 2015 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX Grows Recurring Revenue by 9.8% in theSecond Quarter of 2015

TORONTO, Aug. 14, 2015 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announced today its financial results for the three-months ended June 30th, 2015. Posera-HDX is listed on the TSX under the symbol “HDX”.
Paul Howell, Chief Executive Officer, reports:
The Company’s consolidated recurring revenues for the three-months ended June 30, 2015 was $2,143,315, which represents an
increase of $265,023 (14.1%) and $191,751 (9.8%) from $1,878,292 and $1,951,564 for the three-months ended June 30, 2014 and
March 31, 2015 respectively. The Company continues to build on its recurring revenue model of stable, predictable recurring revenue
streams. Recurring revenue will continue to benefit the business as we focus on enhancing and growing these revenue streams.
Recurring revenue also continues to be an increasing component of total revenue. During the three-months ended June 30, 2015,
recurring revenue represented 40.6% to total revenue for the Company, whereas during the three-months ended June 30, 2014,
recurring revenue represented only 35.6% of total revenue. This has resulted in an increase of recurring revenue as a percentage of
total revenue by 14.0%, which displays a higher quality of earning being generated by the Company as a proportion of total revenue.
The Company’s merchant portfolio processed $366,246,342 in transactions for the three-months ended June 30, 2015 an increase of
$86,772,526 (50.4%) and an increase of $72,975,172 (39.2%) compared to the three-months ended June 30, 2014 and March 31,
2015 respectively. The Company and its sales agent’s continue to target higher volume customers during the three-months ended
June 30, 2015 when compared to the three-months ended June 30, 2014, which has resulted in the processing volumes increasing,and processing revenue per merchant increasing.

The processing revenue per merchant for the three-months ended June 30, 2015 was $178.91 compared to $127.13 and $151.96 for the three-months ended June 30, 2014 and March 31, 2015 respectively, representing an increase of $51.78 (40.7%) and $26.95
(17.7%) per merchant during the comparable periods. Aside from the increase in fees paid to sales agents, the increase in processing revenue per merchant will result in increased margins for the Company, as the costs associated with servicing each merchant are relatively fixed.
The Company has identified a number of potential cost reductions due to recognized synergies, which upon execution will improve the operating efficiencies for the Company. These identified cost reductions will likely be achieved during the third and fourth quarters of 2015 and management believes that the cost reductions should result in positive cash flows from operations upon completion.
The Company continues to focus on integrating business units, building and acquiring technologies to round out the Company’s product and service offering, identifying and negotiating to acquire organizations complimentary to the Company’s growth strategy.
Gross payment processing fees represents the total payment processing fees that are earned by the Company’s third party processors, of which the Company receives a percentage of these fees.(1)
The Company has stated an objective to recognize the gross payment processing fees as payments processing revenue through
future acquisitions. Had the Company recorded the gross payment processing fees as payment processing revenue the Company
would have achieved adjusted total revenue of $10,242,532 for the three-months-ended June 30, 2015, an increase of $1,392,010
(15.7%) compared to $8,850,522 for the three-months ended June 30, 2014.(1)
On December 31st 2014 the Company completed the acquisition of Terminal Management Services Ltd. (“TMC”). TMC provides wireless EMV Chip and PIN “pay-at-the-table” (“PATT”) credit and debit card processing software and hardware solutions to Canadian merchants nationwide. Based in Markham, Ontario, TMC has deployed its payment software solutions through direct sales and strategic partnerships with the world’s largest payment terminal manufacturers. TMC’s solutions and services integrate directly with most of the leading restaurant POS applications world-wide. Because TMC’s middle-ware product is POS solution agnostic,payment processing relationships can be achieved regardless of the POS solution employed by a particular restaurant.
TMC’s solutions will be marketed and deployed in the United States where the requirement for pay-at-the-table solutions is becoming a necessary part of restaurant operations due to the introduction of EMV Chip and PIN requirements. The credit card / merchant
liability shift due to take place in October of 2015 will result in merchants needing to upgrade their current payment terminals that are currently purely magnetic stripe readers. There are over 900,000 restaurants in the United States and very few offer pay-at-the-table today.
TMC’s product offering will be marketed through Posera-HDX Ltd.’s direct sales team, through the Company’s approximately 85 software reseller partners, and through Zomaron’s approximately 175 sales agents. The Company continues to negotiate licence
agreements for TMC pay-at-the-table products with American payment processors that currently do not have a PATT solution to offer to their merchant base.
On October 1st 2014 the Company announced that it had signed a letter of intent to acquire Premier Payments Systems Inc.
(“Premier”) of Oak Brook, Illinois, USA. Founded in 2010, Premier Payment Systems Inc. provides payment processing solutions for
debit and credit transactions to clients throughout the United States. Based in the Western Suburbs of Chicago, Illinois Premier is
superbly situated to fuel HDX’s growth strategy in the United States. The combined company will ramp quickly to offer merchants bestin-
breed payment and point-of-sale solutions in time for the upcoming Liability Shift for EMV Chip and PIN slated for October 2015.
HDX has developed and deployed EMV Chip and PIN enabled solutions at thousands of merchant locations throughout Europe and
Canada over many years and is well prepared to scale the combined organization for the coming opportunity in the USA. Premier
has established its own BIN (“Bank Identification Number”), maintains multiple front-end authorization network agreements, performs
its own ongoing risk monitoring and underwriting and has the ability to transfer its merchant processing base from one back-end
settlement network and Sponsor Bank to another if necessary.
The Company continues to pursue acquisitions within the point of sale and payments industries although none are specifically named
at this time.
Quarterly Highlights and Summary

  • Recurring revenue for the three-months ended June 30, 2015 was $2,143,315, an increase of $265,023 (14.1%) from recurring
    revenue of $1,878,292 for the three-months ended June 30, 2014, and an increase of $191,751 (9.8%) from recurring revenue
    of $1,951,564 for the three-months ended March 31, 2015;
  • Total revenue was $5,284,556 for the three-months ended June 30, 2015, down $50,034 (0.9%) from $5,334,590 for the threemonths
    ended June 30, 2014 and up $538,495 (11.3%) from $4,746,061 for the three-months ended March 31, 2015;
  • Total point-of-sale (“POS”) revenue was $4,697,150 for the three-months ended June 30, 2015, down $236,365 (4.8%) from
    $4,933,515 for the three-months ended June 30, 2014 and up $419,272 (9.8%) from $4,277,878 for the three-months ended March 31, 2015;
  • Total adjusted payment processing revenue was $587,406 for the three-months ended June 30, 2015, up $238,541 (68.4%)
    from $348,865 for the three-months ended June 30, 2014 and up $119,223 (25.5%) from $468,183 for the three-months ended
    March 31, 2015;
  • Net loss for the three-months ended June 30, 2015 was a loss of $645,911, an increase of $18,342 (2.9%) from a loss of
    $627,569 for the three-months ended June 30, 2014, and a decrease of $472,967 (42.3%) from a loss of $1,118,878 for the
    three-months ended March 31, 2015;
  • EBITDA loss for the three-months ended June 30, 2015, was $173,033, a decrease of $4,053 (2.9%) from a loss of $177,086
    for the three-months ended June 30, 2014, and a decrease of $474,987 (73.3%) from a loss of $648,020 for the three-months
    ended March 31, 2015;
  • Normalized EBITDA profit / (loss) for the three-months ended June 30, 2015 was ($125,043), a decrease of $518,289 (131.8%)
    from $393,246 for the three-months ended June 30, 2014, and an improvement of $438,178 (77.8%) from ($563,221) for the
    three-months ended March 31, 2015;
  • Gross profit was $2,209,753 for the three-months ended June 30, 2015, down $84,586 (3.7%) from $2,294,339 for the threemonths
    ended June 30, 2014, and up $446,227 (25.3%) from $1,763,526 for the three-months ended March 31, 2015; and
  • Included in cost of sales and operating expenses for the three-months ended June 30, 2015, June 30, 2014 and March 31, 2015
    were certain one-time non-recurring expenditures, non-cash amortization of intangible assets and property plant and equipment
    and non-cash stock-based compensation expense totaling $402,781, $636,342 and $427,455 respectively.
    (1) The Company’s ability to recognize the gross payment processing fees as payment process revenue for the calculation of
    adjusted total revenue, would have resulted in a similar increase in the Company’s costs of sales resulting in a minimal impact to
    earnings for the comparative periods.

Non-GAAP Reporting Measures:
Management reports on certain non-GAAP measures to evaluate performance of the Company. EBITDA is a measure commonly reported and widely used by investors as an indicator of a company’s operating performance and ability to incur and service debt, and
as a valuation metric. While EBITDA has been disclosed herein to permit a more complete comparative analysis of the Company’s operating performance and debt servicing ability relative to other companies, investors are cautioned that EBITDA as reported by
Posera-HDX may not be comparable in all instances to EBITDA as reported by other companies. For definitions of other Non-GAAP measures, refer to the Company’s annual management discussion and analysis for the three and twelve-months ended December 31,
2014 and management discussion and analysis for the three-months ended March 31, 2015 and June 30, 2015.
Additional information on HDX’s first quarter 2015 financial results will be available in the financial reports filed by the Company with
Sedar at www.sedar.com
About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and
deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware integration services, merchant staff training, system installation
services, and post-sale software and hardware support services.
HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce
customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
HDX develops, deploys, and supports a restaurant POS software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of
approximately 85 value added reseller partners in 25 countries with approximately 550 reseller representatives selling, supporting & installing its software.
Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and
uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that
are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”,
“believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.
The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events.
These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form
to be filed on March 31st 2015 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements,
or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX Grows Recurring Revenue by 9.8% in theSecond Quarter of 2015

TORONTO, Aug. 14, 2015 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announced today its financial results for the three-months ended June 30th, 2015. Posera-HDX is listed on the TSX under the symbol “HDX”.
Paul Howell, Chief Executive Officer, reports:
The Company’s consolidated recurring revenues for the three-months ended June 30, 2015 was $2,143,315, which represents an
increase of $265,023 (14.1%) and $191,751 (9.8%) from $1,878,292 and $1,951,564 for the three-months ended June 30, 2014 and
March 31, 2015 respectively. The Company continues to build on its recurring revenue model of stable, predictable recurring revenue
streams. Recurring revenue will continue to benefit the business as we focus on enhancing and growing these revenue streams.
Recurring revenue also continues to be an increasing component of total revenue. During the three-months ended June 30, 2015,
recurring revenue represented 40.6% to total revenue for the Company, whereas during the three-months ended June 30, 2014,
recurring revenue represented only 35.6% of total revenue. This has resulted in an increase of recurring revenue as a percentage of
total revenue by 14.0%, which displays a higher quality of earning being generated by the Company as a proportion of total revenue.
The Company’s merchant portfolio processed $366,246,342 in transactions for the three-months ended June 30, 2015 an increase of
$86,772,526 (50.4%) and an increase of $72,975,172 (39.2%) compared to the three-months ended June 30, 2014 and March 31,
2015 respectively. The Company and its sales agent’s continue to target higher volume customers during the three-months ended
June 30, 2015 when compared to the three-months ended June 30, 2014, which has resulted in the processing volumes increasing,and processing revenue per merchant increasing.

The processing revenue per merchant for the three-months ended June 30, 2015 was $178.91 compared to $127.13 and $151.96 for the three-months ended June 30, 2014 and March 31, 2015 respectively, representing an increase of $51.78 (40.7%) and $26.95
(17.7%) per merchant during the comparable periods. Aside from the increase in fees paid to sales agents, the increase in processing revenue per merchant will result in increased margins for the Company, as the costs associated with servicing each merchant are relatively fixed.
The Company has identified a number of potential cost reductions due to recognized synergies, which upon execution will improve the operating efficiencies for the Company. These identified cost reductions will likely be achieved during the third and fourth quarters of 2015 and management believes that the cost reductions should result in positive cash flows from operations upon completion.
The Company continues to focus on integrating business units, building and acquiring technologies to round out the Company’s product and service offering, identifying and negotiating to acquire organizations complimentary to the Company’s growth strategy.
Gross payment processing fees represents the total payment processing fees that are earned by the Company’s third party processors, of which the Company receives a percentage of these fees.(1)
The Company has stated an objective to recognize the gross payment processing fees as payments processing revenue through
future acquisitions. Had the Company recorded the gross payment processing fees as payment processing revenue the Company
would have achieved adjusted total revenue of $10,242,532 for the three-months-ended June 30, 2015, an increase of $1,392,010
(15.7%) compared to $8,850,522 for the three-months ended June 30, 2014.(1)
On December 31st 2014 the Company completed the acquisition of Terminal Management Services Ltd. (“TMC”). TMC provides wireless EMV Chip and PIN “pay-at-the-table” (“PATT”) credit and debit card processing software and hardware solutions to Canadian merchants nationwide. Based in Markham, Ontario, TMC has deployed its payment software solutions through direct sales and strategic partnerships with the world’s largest payment terminal manufacturers. TMC’s solutions and services integrate directly with most of the leading restaurant POS applications world-wide. Because TMC’s middle-ware product is POS solution agnostic,payment processing relationships can be achieved regardless of the POS solution employed by a particular restaurant.
TMC’s solutions will be marketed and deployed in the United States where the requirement for pay-at-the-table solutions is becoming a necessary part of restaurant operations due to the introduction of EMV Chip and PIN requirements. The credit card / merchant
liability shift due to take place in October of 2015 will result in merchants needing to upgrade their current payment terminals that are currently purely magnetic stripe readers. There are over 900,000 restaurants in the United States and very few offer pay-at-the-table today.
TMC’s product offering will be marketed through Posera-HDX Ltd.’s direct sales team, through the Company’s approximately 85 software reseller partners, and through Zomaron’s approximately 175 sales agents. The Company continues to negotiate licence
agreements for TMC pay-at-the-table products with American payment processors that currently do not have a PATT solution to offer to their merchant base.
On October 1st 2014 the Company announced that it had signed a letter of intent to acquire Premier Payments Systems Inc.
(“Premier”) of Oak Brook, Illinois, USA. Founded in 2010, Premier Payment Systems Inc. provides payment processing solutions for
debit and credit transactions to clients throughout the United States. Based in the Western Suburbs of Chicago, Illinois Premier is
superbly situated to fuel HDX’s growth strategy in the United States. The combined company will ramp quickly to offer merchants bestin-
breed payment and point-of-sale solutions in time for the upcoming Liability Shift for EMV Chip and PIN slated for October 2015.
HDX has developed and deployed EMV Chip and PIN enabled solutions at thousands of merchant locations throughout Europe and
Canada over many years and is well prepared to scale the combined organization for the coming opportunity in the USA. Premier
has established its own BIN (“Bank Identification Number”), maintains multiple front-end authorization network agreements, performs
its own ongoing risk monitoring and underwriting and has the ability to transfer its merchant processing base from one back-end
settlement network and Sponsor Bank to another if necessary.
The Company continues to pursue acquisitions within the point of sale and payments industries although none are specifically named
at this time.
Quarterly Highlights and Summary

  • Recurring revenue for the three-months ended June 30, 2015 was $2,143,315, an increase of $265,023 (14.1%) from recurring
    revenue of $1,878,292 for the three-months ended June 30, 2014, and an increase of $191,751 (9.8%) from recurring revenue
    of $1,951,564 for the three-months ended March 31, 2015;
  • Total revenue was $5,284,556 for the three-months ended June 30, 2015, down $50,034 (0.9%) from $5,334,590 for the threemonths
    ended June 30, 2014 and up $538,495 (11.3%) from $4,746,061 for the three-months ended March 31, 2015;
  • Total point-of-sale (“POS”) revenue was $4,697,150 for the three-months ended June 30, 2015, down $236,365 (4.8%) from
    $4,933,515 for the three-months ended June 30, 2014 and up $419,272 (9.8%) from $4,277,878 for the three-months ended March 31, 2015;
  • Total adjusted payment processing revenue was $587,406 for the three-months ended June 30, 2015, up $238,541 (68.4%)
    from $348,865 for the three-months ended June 30, 2014 and up $119,223 (25.5%) from $468,183 for the three-months ended
    March 31, 2015;
  • Net loss for the three-months ended June 30, 2015 was a loss of $645,911, an increase of $18,342 (2.9%) from a loss of
    $627,569 for the three-months ended June 30, 2014, and a decrease of $472,967 (42.3%) from a loss of $1,118,878 for the
    three-months ended March 31, 2015;
  • EBITDA loss for the three-months ended June 30, 2015, was $173,033, a decrease of $4,053 (2.9%) from a loss of $177,086
    for the three-months ended June 30, 2014, and a decrease of $474,987 (73.3%) from a loss of $648,020 for the three-months
    ended March 31, 2015;
  • Normalized EBITDA profit / (loss) for the three-months ended June 30, 2015 was ($125,043), a decrease of $518,289 (131.8%)
    from $393,246 for the three-months ended June 30, 2014, and an improvement of $438,178 (77.8%) from ($563,221) for the
    three-months ended March 31, 2015;
  • Gross profit was $2,209,753 for the three-months ended June 30, 2015, down $84,586 (3.7%) from $2,294,339 for the threemonths
    ended June 30, 2014, and up $446,227 (25.3%) from $1,763,526 for the three-months ended March 31, 2015; and
  • Included in cost of sales and operating expenses for the three-months ended June 30, 2015, June 30, 2014 and March 31, 2015
    were certain one-time non-recurring expenditures, non-cash amortization of intangible assets and property plant and equipment
    and non-cash stock-based compensation expense totaling $402,781, $636,342 and $427,455 respectively.
    (1) The Company’s ability to recognize the gross payment processing fees as payment process revenue for the calculation of
    adjusted total revenue, would have resulted in a similar increase in the Company’s costs of sales resulting in a minimal impact to
    earnings for the comparative periods.

Non-GAAP Reporting Measures:
Management reports on certain non-GAAP measures to evaluate performance of the Company. EBITDA is a measure commonly reported and widely used by investors as an indicator of a company’s operating performance and ability to incur and service debt, and
as a valuation metric. While EBITDA has been disclosed herein to permit a more complete comparative analysis of the Company’s operating performance and debt servicing ability relative to other companies, investors are cautioned that EBITDA as reported by
Posera-HDX may not be comparable in all instances to EBITDA as reported by other companies. For definitions of other Non-GAAP measures, refer to the Company’s annual management discussion and analysis for the three and twelve-months ended December 31,
2014 and management discussion and analysis for the three-months ended March 31, 2015 and June 30, 2015.
Additional information on HDX’s first quarter 2015 financial results will be available in the financial reports filed by the Company with
Sedar at www.sedar.com
About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and
deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware integration services, merchant staff training, system installation
services, and post-sale software and hardware support services.
HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce
customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
HDX develops, deploys, and supports a restaurant POS software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of
approximately 85 value added reseller partners in 25 countries with approximately 550 reseller representatives selling, supporting & installing its software.
Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and
uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that
are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”,
“believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management.
The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events.
These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form
to be filed on March 31st 2015 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements,
or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX Announces Annual Meeting Results – 2015

TORONTO, June 25, 2015 /CNW/ – Paul K. Howell, CEO of Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) is pleased to announce the results of
the Company’s 2015 annual and special meeting of shareholders (the “Meeting”) held in Toronto, Ontario on June 24th, 2015. Posera-HDX is listed on the TSX
under the symbol “HDX”.
At the Meeting, all director nominees listed in the Company’s management information circular dated May 12th, 2015, were elected as directors of the Company.
The detailed results of the vote by ballot are as follows:

Director Vote Type Number of Votes Percentage of
Votes (%)
Paul K. Howell For
Withheld
27,319,092
1,400
99.9
0.1
Paul Fornazzari For
Withheld
27,320,492
100.0
Loudon Owen For
Withheld
20,786,515
6,533,977
76.1
23.9
Michael Brown For
Withheld
26,329,992
990,500
96.4
3.6
David Del Chiaro For
Withheld
27,320,492 100.0
Gary Figueira For
Withheld
23,966,315
3,354,177
87.7
12.3

 
In addition, at the Meeting, shareholders reappointed PricewaterhouseCoopers LLP, as auditors of the Company, and approved the continuation of Stock Option
Plan of the Company.
The formal report of voting results with respect to all matters voted upon at the Meeting was filed on SEDAR at www.sedar.com.
About the Company
Posera-HDX develops, deploys, and supports a restaurant POS software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in
eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 79 value added reseller partners in 25
countries with approximately 550 reseller representatives selling, supporting & installing its software.

Posera-HDX Grows Recurring Revenue by 11.1% in First Quarter of 2015

TORONTO, May 15, 2015 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announced today its financial results for the three-months
ended March 31st, 2015. Posera-HDX is listed on the TSX under the symbol “HDX”.
Paul Howell, Chief Executive Officer, reports:
The Company’s consolidated recurring revenues for the three-months ended March 31, 2015 was $1,951,564, which represents an increase of $201,251 (11.1%)
from $1,750,313 for the three-months ended March 31, 2014. The Company continues to build on our recurring revenue model of stable, predictable recurring
revenue streams. Recurring revenue will continue to benefit the business as we focus on enhancing and growing these revenue streams.
Recurring revenue continues to be an increasing component of total revenue. Total revenue was $4,746,061 for the three-months ended March 31, 2015, an
increase of $24,437 (0.5%) compared to $4,721,624 for the three-months ended March 31, 2014.
The Company’s merchant portfolio processed $268,000,558 in transactions for the three-months ended March 31, 2015, an increase of $95,018,904 (54.9%)
compared to $172,981,654 for the three-months ended March 31, 2014. The Company and its sales agent’s continue to target higher volume customers during the
three-months ended March 31, 2015 when compared to the three-months ended March 31, 2014, which has resulted in the processing volumes increasing, and
processing revenue per merchant increasing.
The processing revenue per merchant for the three-months ended March 31, 2015 was $151.96 compared to $132.17 for the three-months ended March 31, 2014,
representing an increase of $19.79 (15.0%) per merchant during the comparable periods. Aside from the increase in fees paid to sales agents, the increase in
processing revenue per merchant will result in increased margins for the Company, as the costs associated with servicing each merchant are relatively fixed.
Finally, during the latter half of fiscal 2014, the Company’s processing partner became a first market mover in the processing industry to require merchants to
adhere to Payment Card Industry (“PCI”) security standards. As a result the Zomaron division and its agents spent a significant amount of time training up
existing merchants to allow them to become PCI compliant. As a result the sales agents focus for a period of time was on customer support rather than new
customer acquisitions. Additionally, certain smaller merchants chose to change providers so as to avoid the PCI requirements until mandated by other processors
in the industry, which will likely take place in fiscal 2015 and 2016. Therefore new merchant acquisitions continues to grow consistently with past growth, whereas
merchant attrition for the three-months ended March 31, 2015 was higher than in the past as a result of PCI. The Company believes that the attrition of merchants
due to PCI will not persist to any great extent in the future and when PCI becomes the industry standard the Company with its PCI experience will be properly
positioned to transition many new merchants through the PCI compliance process.
The Company continues to focus on integrating the Zomaron business unit, building and acquiring technologies to round out the Company’s product and service
offering, identifying and negotiating to acquire organizations complimentary to the Company’s growth strategy. For Zomaron, gross payment processing fess
represents the total payment processing fees that are earned by Zomaron’s third party processors, of which Zomaron receives a percentage of these fees.
The Company has stated an objective to recognize the gross payment processing fees as payments processing revenue through future acquisitions. Had the
Company recorded the gross payment processing fees as payment processing revenue the Company would have achieved adjusted total revenue of $8,519,361
for the three-months-ended March 31, 2015, an increase of $1,430,75 (20.2%) compared to $7,088,646 for the three-months ended March 31, 2014.(1)
On December 31st 2014 the Company completed the acquisition of Terminal Management Services Ltd. (“TMC”). TMC provides wireless EMV Chip and PIN “payat-
the-table” (“PATT”) credit and debit card processing software and hardware solutions to Canadian merchants nationwide. Based in Markham, Ontario, TMC has
deployed its payment software solutions through direct sales and strategic partnerships with the world’s largest payment terminal manufacturers. TMC’s solutions
and services integrate directly with most of the leading restaurant POS applications world-wide. Because TMC’s middle-ware product is POS solution agnostic,
payment processing relationships can be achieved regardless of the POS solution employed by a particular restaurant.
TMC’s solutions will be marketed and deployed in the United States where the requirement for pay-at-the-table solutions is becoming a necessary part of
restaurant operations due to the introduction of EMV Chip and PIN requirements. The credit card / merchant liability shift due to take place in October of 2015 will
result in merchants needing to upgrade their current payment terminals that are currently purely magnetic stripe readers. There are over 900,000 restaurants in the
United States and very few offer pay-at-the-table today.
TMC’s product offering will be marketed through Posera-HDX Ltd.’s direct sales team, through the Company’s 95 software reseller partners, and through Zomaron’s
175 sales agents. Furthermore, the Company intends to offer licence agreements for TMC pay-at-the-table products to large American payment processors as the
vast majority currently do not have a PATT solution to offer to their merchant base.
On October 1st 2014 the Company announced that it had signed a letter of intent to acquire Premier Payments Systems Inc. (“Premier”) of Oak Brook, Illinois,
USA. Founded in 2010, Premier Payment Systems Inc. provides payment processing solutions for debit and credit transactions to clients throughout the United
States. Based in the Western Suburbs of Chicago, Illinois Premier is superbly situated to fuel HDX’s growth strategy in the United States. The combined company
will ramp quickly to offer merchants best-in-breed payment and point-of-sale solutions in time for the upcoming Liability Shift for EMV Chip and PIN slated for
October 2015. HDX has developed and deployed EMV Chip and PIN enabled solutions at thousands of merchant locations throughout Europe and Canada over
many years and is well prepared to scale the combined organization for the coming opportunity in the USA. Premier has established its own BIN (“Bank
Identification Number”), maintains multiple front-end authorization network agreements, holds its payment processing agreements directly with its merchants,
performs its own ongoing risk monitoring and underwriting, and has the ability to transfer its merchant processing base from one back-end settlement network and
Sponsor Bank to another if necessary.
The Company continues to pursue acquisitions within the point of sale and payments industries although none are specifically named at this time.
Quarterly Highlights and Summary
The Company’s consolidated recurring revenues for the three-months ended March 31, 2015 was $1,951,564, which represents an increase of $201,251
(11.1%) from $1,750,313 for the three-months ended March 31, 2014.
Total revenue was $4,746,061 for the three-months ended March 31, 2015, up $24,437 (0.5%) from $4,721,624 for the three-months ended March 31, 2014
and down ($618,470) (11.5%) from $5,364,531 for the three-months ended December 31, 2014;
Total point-of-sale revenue was $4,277,878 for the three-months ended March 31, 2015, down $70,892 (1.6%) from $4,348,770 for the three-months ended
March 31, 2014 and down $891,241 (17.2%) from $5,169,119 for the three-months ended December 31, 2014;
Total payment processing revenue was $468,183 for the three-months ended March 31, 2015, up $95,329 (25.6%) from $372,854 for the three-months ended
March 31, 2014 and up $272,771 (139.6%) from $195,412 for the three-months ended December 31, 2014;
Total gross payment processing fees was $4,241,483 for the three-months ended March 31, 2015, up $1,501,607 (54.8%) from $2,739,876 for the threemonths
ended March 31, 2014 and down $309,879 (6.8%) from $4,551,362 for the three-months ended December 31, 2014;
Net loss for the three-months ended March 31, 2015 was a loss of $1,118,878, an increase of $679,893 from a loss of $438,985 for the three-months ended
March 31, 2014, and a increase of $525,090 from a loss of $593,788 for the three-months ended December 31, 2014;
EBITDA loss for the three-months ended March 31, 2015, was $648,020, an increase in the loss by $493,680 from an EBITDA loss of $154,340 for the threemonths
ended March 31, 2014, and an increase in the loss by $206,944 from an EBITDA loss of $441,076 for the three-months ended December 31, 2014;
Normalized EBITDA loss for the three-months ended March 31, 2015 was $563,221, an increase in the loss by $353,380 from a Normalized EBITDA loss of
$209,841 for the three-months ended March 31, 2014, and an increase in the loss by $628,235 from a Normalized EBITDA income of $65,014 for the threemonths
ended December 31, 2014;
Operating expenses were $2,754,202 for the three-months ended March 31, 2015, up $163,554 (6.3%) from $2,590,648 for the three-months ended March
31, 2014, and down $98,801 (3.5%) from $2,853,003 for the three-months ended December 31, 2014; and
Included in cost of sales and operating expenses for the three-months ended March 31, 2015, March 31, 2014 and December 31, 2014 were certain one-time
non-recurring expenditures, one-time revenue adjustment, investment tax credit reassessment, non-cash amortization of intangible assets and property plant
and equipment, non-cash stock-based compensation expense totaling $84,799, ($55,501) and $506,090 respectively.
(1) The Company’s ability to recognize the gross payment processing fees as payment process revenue for the calculation of adjusted total revenue, would have
resulted in a similar increase in the Company’s costs of sales resulting in a minimal impact to earnings for the comparative periods.
Non-GAAP Reporting Measures:
Management reports on certain non-GAAP measures to evaluate performance of the Company. EBITDA is a measure commonly reported and widely used by
investors as an indicator of a company’s operating performance and ability to incur and service debt, and as a valuation metric. While EBITDA has been disclosed
herein to permit a more complete comparative analysis of the Company’s operating performance and debt servicing ability relative to other companies, investors
are cautioned that EBITDA as reported by Posera-HDX may not be comparable in all instances to EBITDA as reported by other companies. For definitions of other
Non-GAAP measures, refer to the Company’s annual management discussion and analysis for the three and twelve-months ended December 31, 2014 and
management discussion and analysis for the three-months ended March 31, 2015.
Additional information on HDX’s first quarter 2015 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com.
About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS
system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware
integration services, merchant staff training, system installation services, and post-sale software and hardware support services.
HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile POS terminals. These
products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective
in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
HDX develops, deploys, and supports a restaurant POS software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in eight
different languages. The Company sells and services its clients directly, as well as through a network of approximately 79 value added reseller partners in 25
countries with approximately 550 reseller representatives selling, supporting & installing its software.
Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our
business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be
forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent
they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future
results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st
2015 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ
from those reflected in the forward-looking statements.

Posera – HDX Completes $3.6m Oversubscribed Private Placement of Common Shares

TORONTO, April 27, 2015 /CNW/ – Paul Howell, CEO and Executive Director, is pleased to report that Posera – HDX Limited (“HDX” or the “Company”) has
closed an oversubscribed private placement of HDX Common Shares. Under the private placement, the Company issued a total of 14,316,000 Common Shares at
a price of $0.25 per share (the “Offering”) for gross proceeds of $3,579,000. HDX paid a finders fee equal to 7.0% on $3,191,000 of the Offering’s gross proceeds,
together with finders’ warrants to acquire 893,480 Common Shares. The finders’ warrants are exercisable for a period of two years at an exercise price of $0.40 per
Common Share.
The Company’s common shares are listed on the Toronto Stock Exchange (the “TSX”) under the symbol “HDX”. The proceeds from the private placement are
currently primarily targeted to be utilized to increase the working capital position of the Company.The common shares have been conditionally approved for listing
on the Toronto Stock Exchange.
The common shares have been conditionally approved for listing on the Toronto Stock Exchange.
Company Expansion in the United States
Wide-spread credit card security breaches have resulted in a payment industry decision to deploy EMV Chip and PIN technology in the United States. The
deployment of EMV Chip and PIN credit cards will make it necessary for table service restaurants to give customers the ability to maintain control of their credit
cards by paying for their meals “at the table” and entering their credit card PIN and / or signature into a wireless payment terminal. The current insecure practice,
whereby customers place their credit card inside a folio and allow the server to take the credit card elsewhere to be swiped on a magnetic stripe reader, will no
longer be allowed without the merchant accepting the liability for fraudulent transactions. Restaurants will require a “pay-at-the-table” device, ideally integrated
with their in-house point-of-sale (“POS”) solution, in order to correctly identify the table and the appropriate client balances to finalize electronic card payments.
In the United States there are 1.2 billion magnetic stripe cards in circulation, 15 million magnetic stripe POS terminals, and thousands of banking institutions
managing electronic payments. As there are over 900,000 restaurants, the opportunity to provide “pay-at-the-table” technology, payment processing solutions,
and integrated point-of-sale solutions is enormous.
On January 7, 2015 HDX announced that it had completed the acquisition of all the issued and outstanding shares of Terminal Management Concepts Ltd.
(“TMC”) of Markham, Ontario and subsequently amalgamated with TMC.
TMC provides wireless EMV Chip and PIN “pay-at-the-table” credit and debit card processing software and hardware solutions to Canadian merchants nationwide.
TMC has deployed its payment software solutions through direct sales and strategic partnerships with the world’s largest payment terminal manufacturers and
TMC’s software solutions integrate directly with most of the leading restaurant point-of-sale applications world-wide. Because TMC’s middle-ware product is POS
solution agnostic, payment processing relationships can be achieved regardless of the POS solution employed by a particular restaurant.
The TMC software product suite will be distributed through the Company’s reseller network of approximately 95 dealers, 180 direct sales representatives, and
potentially through software licensing agreements with multiple payment processors in the United States who are in need of a pay-at-the-table solution that will
allow them to integrate with multiple POS solutions.
While there will eventually be other pay-at-the-table applications available in the United States, payment card industry certified integrations to POS applications
are a time consuming endeavour. HDX has a market leading advantage because EMV Chip and PIN integrations are complete and deployed with over 20 of the
leading POS applications.
Payment Processing Opportunity
HDX has now completed integration between its POS solutions and its payment processing switch partners. This allows the Company’s sales force to offer
Payment Processing contracts to existing merchants that utilize the Company’s POS solutions. HDX intends to grow its sales force and distribution channels
significantly in 2015.
The Company intends improve its payment processing division by owning multiple Bank Identification Numbers (“BIN”), employing multiple payment processing
switch partners, owning its merchant contracts directly, and performing its own risk assessment and underwriting. These criteria will allow the Company to be
considered a Wholesale Payments ISO which provides the company with significant advantages.
Zomaron, a wholly owned division of HDX, provides credit and debit card payment processing solutions through its sales force of over approximately 170 agents.
Zomaron grew its merchant base by more than 37% in 2014 prior to integration with HDX’s POS solutions. Zomaron also grew its average payment processing
volume per merchant by over 19%.
The integration of TMC’s software products with the Zomaron sales team bolsters HDX’s strategy of providing integrated payment solutions to new merchants that
use competitive POS solutions and existing clients that already utilize HDX POS solutions and services. TMC’s software, in conjunction with HDX’s intellectual
property and services, provides merchants with one-stop-shopping, one monthly payment, and one source for technical support of all of their retail technology
solutions. TMC’s business model supports HDX’s ability to grow payment processing revenue, profitability, and TMC’s recurring revenue model is very attractive to
HDX. The opportunity for our Company to deploy “pay-at-the-table” solutions with payment processing contracts in the United States is enormous.
The major US credit card companies have announced that the Merchant Liability Shift will take place in October 2015 in the United States. This is an aggressive
timeframe and the race to deploy solutions will be highly disruptive. Time-challenged merchants are advised to work with solution vendors that are experienced in
facilitating EMV transaction processing

.
HDX has developed and deployed POS software solutions at thousands of merchant locations in Europe and Canada and all of our software solutions have been
EMV Chip and PIN enabled and certified for many years now. Because of the breadth and quality of our solution and service offerings, our Company is well
positioned to take advantage of the market opportunity presented in the United States.
One of the Company’s strengths has been its ability to acquire and integrate businesses to build our customer base, and to bolster our superior suite of
technologies that can be used by our entire customer base. The Company is dedicated to providing end-to-end solutions for POS, Payments Processing,
Enterprise Management, Client Loyalty, and Site Security.
About HDX
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS
system software, SaaS / Cloud Based labour scheduling and management tools, SaaS / Cloud Based menu, recipe, and inventory management tools, and
associated enterprise management tools. HDX also provides system hardware integration services, merchant staff training, system installation services, and postsale
software and hardware support services.
HDX leading edge technology also includes payment processing solutions, prepaid stored value payments solutions, customer self-serve kiosks and “line buster”
mobile point of sale software. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These
technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence
of a drive through.
HDX develops, deploys, and supports a restaurant point-of-sale software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in eight
different languages. The Company sells and services its clients directly, as well as through a network of approximately 95 value added reseller partners in 25
countries. HDX has offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), and Paris (France).
To find out more about Posera-HDX Ltd., visit our websites at

www.hdxsolutions.com,

www.maitredpos.com,

www.zomaron.com

and

www.terminalmanagement.ca.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 “US Securities Act”) or any
state securities laws an may not be offered or sold within the United States of 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.
Additional information on Posera-HDX is available in the financial reports filed by the Company with SEDAR at www.sedar.com and posted to the Investor
Relations section of the Company’s website at www.hdxsolutions.com
Forward-Looking Statements
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our
business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be
forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent
they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera – HDX’s current expectations regarding
future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 31st, 2015
with the regulatory authorities. Posera – HDX assumes no obligation

Posera-HDX Announces Record Sales for Fiscal 2014

TORONTO, March 31, 2015 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company”) announced today its financial results for the three-months and year ending
December 31st, 2014. HDX is listed on the TSX under the symbol “HDX”.
Paul Howell, Chief Executive Officer, reports:
Throughout 2014 Posera-HDX Ltd. focussed on integrating the newly acquired Zomaron business unit, building and acquiring technologies to round out the
Company’s product and service offering, identifying and negotiating to acquire organizations complimentary to the Company’s growth strategy.
On December 31st 2014 the Company completed the acquisition of Terminal Management Services Ltd. (“TMC”). TMC provides wireless EMV Chip and PIN “payat-
the-table” (“PATT”) credit and debit card processing software and hardware solutions to Canadian merchants nationwide. Based in Markham, Ontario, TMC has
deployed its payment software solutions through direct sales and strategic partnerships with the world’s largest payment terminal manufacturers. TMC’s solutions
and services integrate directly with most of the leading restaurant POS applications world-wide. Because TMC’s middle-ware product is POS solution agnostic,
payment processing relationships can be achieved regardless of the POS solution employed by a particular restaurant.
TMC’s solutions will be marketed and deployed in the United States where the requirement for pay-at-the-table solutions is becoming a necessary part of
restaurant operations due to the introduction of EMV Chip and PIN requirements. The credit card / merchant liability shift due to take place in October of 2015 will
result in merchants needing to upgrade their current payment terminals that are currently purely magnetic stripe readers. There are over 900,000 restaurants in the
United States and very few offer pay-at-the-table today.
TMC’s product offering will be marketed through Posera-HDX Ltd.’s direct sales team, through the Company’s 95 software reseller partners, and through Zomaron’s
175 sales agents. Furthermore, the Company intends to offer licence agreements for TMC pay-at-the-table products to large American payment processors as the
vast majority currently do not have a PATT solution to offer to their merchant base.
On October 1st 2014 the Company announced that it had signed a letter of intent to acquire Premier Payments Systems Inc. (“Premier”) of Oak Brook, Illinois,
USA. Founded in 2010, Premier Payment Systems Inc. provides payment processing solutions for debit and credit transactions to clients throughout the United
States. Based in the Western Suburbs of Chicago, Illinois Premier is superbly situated to fuel HDX’s growth strategy in the United States. The combined
company will ramp quickly to offer merchants best-in-breed payment and point-of-sale solutions in time for the upcoming Liability Shift for EMV Chip and PIN
slated for October 2015. HDX has developed and deployed EMV Chip and PIN enabled solutions at thousands of merchant locations throughout Europe and
Canada over many years and is well prepared to scale the combined organization for the coming opportunity in the USA. Premier has established its own BIN
(“Bank Identification Number”), maintains multiple front-end authorization network agreements, holds its payment processing agreements directly with its
merchants, performs its own ongoing risk monitoring and underwriting, and has the ability to transfer its merchant processing base from one back-end settlement
network and Sponsor Bank to another if necessary.
Posera-HDX Ltd.’s total revenue was $20,114,450 for the year-ended December 31, 2014, an increase of $603,038 (3.1%) from $19,511,412 for the year-ended
December 31, 2013.
The Company achieved a Normalized EBITDA loss of $12,460, which does not include including amortization of intangible assets, amortization of equipment,
stock based compensation, one-time expenses, income taxes and interest charges.
EBITDA loss of ($788,325), for the year-ended December 31, 2014 a decrease of $1,731,921 from a profit of $943,596 for the year-ended December 31, 2013. No
Revenue was recognized from the acquisition of TMC in 2014 as the transaction was completed Dec 31st. 2014.
The Company acquired the payment processing entity Zomaron Inc., in December, 2013. The Company has stated its goal to meet the criteria to recognize the
gross payment processing fees as payments processing revenue through future acquisitions. Had the Company recorded the gross payment processing fees as
payment processing revenue the Company would have achieved adjusted total revenue of $34,046,519 for the year-ended December 31, 2014 compared to
$20,073,307 for the year-ended December 31, 2013, representing an increase of $13,973,212 (69.6%).(1)
Under IFRS reporting rules, the Company is currently considered a resale ISO that sells payment processing contracts on behalf of third party processors,
therefore the Company recorded payment processing revenue of $1,404,592 for the year-ended December 31, 2014, compared to $160,615 for the year-ended
December 31, 2013, representing an increase of $1,243,976 (774.5%). For Zomaron, gross payment processing fess represents the total payment processing
fees that are earned by Zomaron’s third party processors, of which Zomaron receives a percentage of these fees.
The Company achieved revenue of $5,364,531 for the three-months ended December 31, 2014; a decrease of $576,210 (9.7%) from a record revenue quarter of
$5,940,741 for the three-months ended December 31, 2013 and revenues are up $670,826 (14.3%) from $4,693,705 for the three-months ended September 30,
2014. Normalized EBITDA profit for the three-months ended December 31, 2014, was $65,014, a decrease of $592,015 from a profit of $657,029 for the threemonths
ended December 31, 2013, and an increase of $235,903 from an EBITDA loss of ($170,889) for the three-months ended September 30, 2014.
The Company continues to pursue acquisitions within the point of sale and payments industries although none are specifically named at this time.
Year-ended December 31, 2014 – Highlights and Summary

  • Revenues and earnings for the combined entity for the year-ended December 31, 2013 includes twenty-two days of operating results for Zomaron Inc.
    (“Zomaron”) whom was acquired on December 9, 2013, whereas revenues and earnings for the year-ended December 31, 2014 include a full twelve months of
    operations for Zomaron;
  • Net Income / (loss) for the year-ended December 31, 2014 was a loss of $(1,860,518), down $868,080 from a loss of $(992,438) for the year-ended December
    31, 2013;
  • EBITDA profit / (loss) for the year-ended December 31, 2014 was $(788,325), down $1,731,921 from a profit of $943,596 for the year-ended December 31,
    2013;
  • Normalized EBITDA profit / (loss) for the year-ended December 31, 2014 was $(12,460), a decrease of $556,423 from $543,963 for the year- ended
    December 31, 2013;
  • Total revenue was $20,114,450 for the year-ended December 31, 2014, up $603,038 (3.1%) from $19,511,412 for the year-ended December 31, 2013;
    Total point-of-sale revenue was $18,709,858 for the year-ended December 31, 2014, down $640,938 (3.3%) from $19,350,796 for the year-ended December
    31, 2013;
  • Total payment processing revenue was $1,404,592 for the year-ended December 31, 2014, up $1,243,976 (774.5%) from $160,616 for the year-ended
    December 31, 2013;
  • Total gross payment processing fees was $15,336,661 for the year-ended December 31, 2014, up $14,614,150 (2,022.7%) from $722,511 for the year-ended
    December 31, 2013;
  • Gross profit was $8,674,864 for the year-ended December 31, 2014, up $741,312 (9.3%) from $7,933,552 for the year-ended December 31, 2013;
  • Operating expenses were $10,598,116 for the year-ended December 31, 2014, up $1,932,052 (22.3%) from $8,666,064 for the year-ended December 31,
    2013; and
  • Operating expenses were $10,598,116 for the year-ended December 31, 2014, up $1,932,052 (22.3%) from $8,666,064 for the year-ended December 31,
    2013.

Three-months ended December 31, 2013 (Unaudited) – Highlights and Summary

  • Revenues and earnings for the combined entity for the three months-ended December 31, 2013 includes twenty-two days of operating results for the acquired
    entity Zomaron Inc. (“Zomaron”) which was acquired on December 9, 2013, whereas revenues and earnings for the three-months ended December 31, 2014
    and September 30, 2014 includes the operations for the full quarterly reporting period for Zomaron;
  • Net income / (loss) for the three-months ended December 31, 2014 was a loss of ($593,788), down $954,561 from income of $360,773, for the three-months
    ended December 31, 2013, and down $393,612 from a loss of ($200,176) for the three-months ended September 30, 2014;
  • EBITDA profit / (loss) for the three-months ended December 31, 2014, was a loss of $(441,076), down $1,091,759 from income of $650,683 for the threemonths
    ended December 31, 2013, and down $(425,253) from an EBITDA loss of ($15,823) for the three-months ended September 30, 2014;
  • Normalized EBITDA profit / (loss) for the three-months ended December 31, 2014 was $65,014, a decrease of $592,015 from $657,029 for the three-months
    ended December 31, 2013, and an increase of $235,903 from ($170,889) for the three-months ended September 30, 2014;
  • Total revenue was $5,364,531 for the three-months ended December 31, 2014, down $576,210 (9.7%) from $5,940,741 for the three-months ended December
    31, 2013 and up $670,826 (14.3%) from $4,693,705 for the three-months ended September 30, 2014;
  • Gross profit was $2,124,805 for the three-months ended December 31, 2014, down $560,779 (20.9%) from $2,685,584 for the three-months ended December
    31, 2013, and up $21,747 (1.0%) from $2,103,058 for the three-months ended September 30, 2014;
  • Operating expenses were $2,853,003 for the three-months ended December 31, 2014, up $632,238 (28.5%) from $2,220,765 for the three-months ended
    December 31, 2013, and up $452,473 (18.9%) from $2,400,530 for the three-months ended September 30, 2014;
  • Included in cost of sales and operating expenses for the three-months ended December 31, 2014, December 31, 2013 and September 30, 2014 were certain
    one-time non-recurring expenditures, non-cash amortization of intangible assets and property plant and equipment, non-cash stock-based compensation
    expense and non-cash impairment to assets totaling $793,212, $260,994 and $126,583 respectively;
  • Posera-HDX’s cash and cash equivalents totaled $1,442,686 as at December 31, 2014, a decrease of $1,511,429 (51.2%) from $2,954,115 as at December
    31, 2013, and a decrease of $450,406 (23.8%) from $1,893,092 as at September 30, 2014. Bank indebtedness was $207,103 as at December 31, 2014, an
    increase of $2 (0.0%) compared to $207,101 as at December 31, 2013, and an increase of $6 (0.0%) compared to $207,097 as at September 30, 2014.

(1) The Company’s ability to recognize the gross payment processing fees as payment process revenue for the calculation of adjusted total revenue, would have
resulted in a similar increase in the Company’s costs of sales resulting in a minimal impact to earnings for the comparative periods.
Non-GAAP Reporting Measures:
Management reports on certain non-GAAP measures to evaluate performance of the Company. EBITDA is a measure commonly reported and widely used by
investors as an indicator of a company’s operating performance and ability to incur and service debt, and as a valuation metric. While EBITDA has been disclosed
herein to permit a more complete comparative analysis of the Company’s operating performance and debt servicing ability relative to other companies, investors
are cautioned that EBITDA as reported by Posera-HDX may not be comparable in all instances to EBITDA as reported by other companies. For definitions of Non-
GAAP measures, refer to the Company’s annual management discussion and analysis for the fourth quarter and fiscal 2014.
Additional information on HDX fourth quarter 2014 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com
About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS
system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware
integration services, merchant staff training, system installation services, and post-sale software and hardware support services.
HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile POS terminals. These
products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective
in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
HDX develops, deploys, and supports a restaurant POS software known as “Maitre ‘D” which has been deployed in over 20,000 locations worldwide in eight
different languages. The Company sells and services its clients directly, as well as through a network of approximately 96 value added reseller partners in 25
countries with approximately 550 reseller representatives selling, supporting & installing its software.
Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our
business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be
forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent
they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future
results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 31st
2015 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

HDX Completes Acquisition of Terminal Management Concepts Ltd., a developer of wireless pay-at-the-table EMV Chip &PIN software

TORONTO, Jan. 7, 2015 /CNW/ – Posera-HDX Limited (“HDX” or the “Company”) is pleased to announce that it has completed the acquisition of all the issued
and outstanding shares of (“TMC”) of Markham, Ontario and subsequently amalgamated with TMC. The terms of the transaction were not disclosed. HDX is listed
on the TSX under the symbol “HDX”.
Wide-spread credit card security breaches have resulted in a payment industry decision to deploy EMV Chip and PIN technology in the United States. The
deployment of EMV Chip and PIN credit cards will make it necessary for table service restaurants to give customers the ability to maintain control of their credit
cards by paying for their meals “at the table” and entering their credit card PIN into the wireless payment terminal. The current insecure practice, whereby
customers place their credit card inside a folio and allow the server to take the credit card elsewhere to be swiped on a magnetic stripe reader, will no longer be
allowed without the merchant accepting the liability for fraudulent transactions. Restaurants will require a “pay-at-the-table” device, ideally integrated with their inhouse
point-of-sale (“POS”) solution, in order to correctly identify the table and the appropriate client balances to finalize electronic card payments.
TMC provides wireless EMV Chip and PIN “pay-at-the-table” credit and debit card processing software and hardware solutions to Canadian merchants nationwide.
Based in Markham, Ontario, TMC has deployed its payment software solutions through direct sales and strategic partnerships with the world’s largest payment
terminal manufacturers. TMC’s solutions and services integrate directly with most of the leading restaurant POS applications world-wide. Because TMC’s middleware
product is POS solution agnostic, payment processing relationships can be achieved regardless of the POS solution employed by a particular restaurant.
TMC’s solutions can be marketed and deployed in the United States where the requirement for “pay-at-the-table” solutions is becoming a necessary part of
restaurant operations due to the introduction of EMV Chip and PIN requirements and the credit card / merchant liability shift due to take place in October of 2015.
Paul Howell, CEO of HDX commented “TMC is a very important part of HDX’s growth strategy. The TMC team has built “pay-at-the-table” solutions that are used
in over two thousand Canadian locations and the consummation of our partnership could not come at a better time. This transaction bolsters our strategy of
providing integrated payment solutions to new merchants and existing clients that already utilize HDX products and services. TMC’s products give our sales team
the ability to achieve payment processing relationships with restaurants that currently use competitive POS solutions. TMC’s software, in conjunction with HDX’s
intellectual property and services, provides merchants with one-stop-shopping, one monthly payment, and one source for technical support of all of their retail
technology solutions. TMC’s business model supports HDX’s ability to grow payment processing revenue, profitability, and TMC’s recurring revenue model is very
attractive to HDX. The opportunity for our Company to deploy “pay-at-the-table” solutions with payment processing contracts in the United States is enormous”.
The need for more secure forms of payment processing in the United States has become abundantly clear in recent years. News regarding the theft of credit card
account numbers and personal information has occurred multiple times. In 2013, between 40 and 70 million consumer credit card numbers were stolen from a
large US retailer. In 2009, data from 130 million credit card holders was stolen from a large US credit card processor. In 2007, 90 million credit card accounts were
compromised through security breaches at a major US retailer and the US government today continues to investigate a group of breaches at convenience stores,
retailers, and airlines resulting in more than 190 million accounts being compromised.
In the United States there are 1.2 billion magnetic stripe cards in circulation, 15 million magnetic stripe POS terminals, and thousands of banking institutions
managing electronic payments. As there are over 900,000 restaurants, the opportunity to provide “pay-at-the-table” technology, payment processing solutions,
and integrated POS solutions is enormous.
Cardholder signatures are not a reliable method of identification and magnetic stripe data is easily copied, reproduced, and distributed. By the end of 1992, in
order to address the problem of fraud related to magnetic-stripe credit cards, France converted all of the country’s POS equipment and consumer credit cards to
EMV Chip and PIN technology.
EMV (“Europay/MasterCard/Visa”), formed in 1993, manages the standards by which the world’s POS solutions and ATM’s (“Automated Teller Machine”) meet
security standards and achieve interoperability related to the acceptance of payment via chip based credit cards.
On March 31st 2011, Visa Canada, MasterCard Canada and their card issuing partners implemented a domestic card “Liability Shift” whereby the liability for
fraudulent transactions shifted to merchants that had not implemented EMV Chip and PIN technology.
The major US credit card companies have announced that this Liability Shift will take place in October 2015 in the United States. This is an aggressive timeframe
and the race to deploy solutions will be highly disruptive. Time-challenged merchants are advised to work with solution vendors that are experienced in facilitating
EMV transaction processing.
Posera-HDX has developed and deployed POS software solutions at thousands of merchant locations in Europe and Canada and all of our software solutions have
been EMV Chip and PIN enabled and certified for many years now. Because of the breadth and quality of our solution and service offerings, our Company is well
positioned to take advantage of the market opportunity presented in the United States.
One of the Company’s strengths has been its ability to integrate and build on acquisitions both to build our customer base, and to acquire superior technologies
that can be used by our entire customer base. The Company is dedicated to providing end-to-end solutions for POS, Payments Processing, Enterprise
Management, Client Loyalty, and Site Security.
About HDX
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS
system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system
hardware integration services, merchant staff training, system installation services, and post-sale software and hardware support services.
Zomaron, a wholly owned division of HDX, provides credit card and debit card payment processing solutions through its sales force of over 170 agents and grew its
merchant base by more than 35% in 2014.
HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile POS terminals. These
products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective
in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
HDX develops, deploys, and supports a restaurant POS software known as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight
different languages. The Company sells and services its clients directly, as well as through a network of approximately 100 value added reseller partners in 25
countries. HDX has offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), and Paris (France).

2014

HDX Announces Financial Results for the Third Quarter of 2014

TORONTO, Nov. 13, 2014 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “HDX”) announced today its financial results for the three and nine-months ended September 30th, 2014. HDX is listed on the TSX under the symbol “HDX”.

Paul Howell, Chief Executive Officer, reports:
The Company achieved strong sales, service, and payments processing revenue, in the third quarter of 2014 despite a number of difficulties encountered due to changes within the industry which were beyond the Company’s control. In May of 2014, a major long-term equipment supplier to HDX announced that it was exiting the Point-of-Sale (“POS”) industry. This was a concern to HDX as the Company was a master distributer of the supplier’s hardware products. The equipment vendor stated that this decision to exit the POS industry was required in order to focus its efforts to rebuild its core business in televisions and consumer electronics, as it had experienced significant difficulties over the past three years.
The Company had been distributing the hardware through its reseller network and now was faced with finding another appropriate vendor, achieving distributor status, training in house sales and technical staff, and training and marketing to the Company’s existing distribution channel.

Secondly, the Company had a significant level of inventory that needed to be sold at historical margins while the Company also made monetary commitments and investments to the new product line.

Thirdly, the Company was delayed in being able to distribute the hardware through its sales force of approximately 175 agents and now was faced with a 4 – 6 month delay before being able to provide the sales team with a replacement product line.

The Company was able to secure a relationship with a best-in-breed hardware supplier and on October 23rd, 2014 announced a North American distribution agreement with Casio America Inc., which provides the Company, its resellers, and its sales team with a full range of leading electronic cash registers and POS terminals.

In the fourth quarter of 2014, the Company intends to train and activate its sales force with the new product line. In the third quarter of 2014, the Company’s payment processing partner arbitrarily announced that significant Payment Card Industry (“PCI”) compliance fees were to be levied against all payment processing clients. This action necessitated ongoing negotiations with the processor and direct communications with over 2,900 of the Company’s merchants to explain the fees. This project was a significant drain on the Company’s sales and marketing team. While communications with merchants are ongoing, negotiations with our payment processing partner have been finalized, and sales efforts have returned to normal levels, with brisk activity in period subsequent to quarter-end. The Company continued to integrate business units, build new software products and tools. Additionally, the Company continues to explore merger and acquisition opportunities in Canada and the United States to take advantage of the anticipated growth opportunities due to EMV Chip and PIN deployment.

The Company continued its due diligence of Terminal Management Concepts (“TMC”), a company that develops software for Ingenico’s wireless pay-at-the-table devices. The company announced a letter of intent to acquire TMC on June 30, 2014 and anticipates that this transaction will be completed in of the fourth quarter of 2014.

On October 1st 2014 HDX announced that it has signed a letter of intent to acquire Premier Payments Systems Inc. (“Premier”) of Oak Brook, Illinois, USA. Founded in 2010, Premier Payment Systems Inc. provides payment processing solutions for debit and credit transactions to clients throughout the United
States. Based in the Western Suburbs of Chicago, Illinois Premier is superbly situated to fuel HDX’s growth strategy in the United States. The combined company will ramp quickly to offer merchants best-in-breed payment and POS solutions in time for the upcoming Liability Shift for EMV Chip and PIN slated for October 2015. HDX has developed and deployed EMV Chip and PIN enabled solutions at thousands of merchant locations throughout Europe and Canada over many years and is well prepared to scale the combined organization for the coming opportunity in the USA. Premier has established its own BIN (“Bank Identification Number”), maintains multiple front-end authorization network agreements, holds its payment processing agreements directly with its merchants, performs its own ongoing risk monitoring and underwriting, and has the ability to transfer its merchant processing base from one back-end settlement network and Sponsor Bank to another if necessary.

The upcoming merchant liability shift in October, 2015 will result in a huge market opportunity for the Company in the United States. The combination of Premier’s wholesale ISO business model, TMC’s wireless EMV Chip and PIN pay-at-the-table software and HDX’s software and hardware products leave HDX well positioned to succeed in this market.

Quarterly Highlights and Summary
The Company continued to achieve strong top-line revenue during the third quarter of 2014. Company revenue was $4,693,705 for the three-months ended September 30, 2014, a decrease of $640,885 (12.0%) from $5,334,590 for the three-months ended September 30, 2013.
Total revenue was $4,693,705 for the three-months ended September 30, 2014, down $477,850 (9.2%) from $5,171,555 for the three-months ended September 30, 2013 and down $640,885 (12.0%) from $5,334,590 for the three-months ended June 30, 2014;
Net loss for the three-months ended September 30, 2014 was a loss of $200,176, an improvement of $201,322 from a loss of $401,498 for the three-months ended September 30, 2013, and an improvement of $427,393 from a loss of $627,569 for the three-months ended June 30, 2014;
EBITDA profit / (loss) for the three-months ended September 30, 2014, was ($15,823), a decrease of $572,678 from a profit of $556,855 for the three-months ended September 30, 2013, and an improvement of $161,263 from a loss of $177,086 for the three-months ended June 30, 2014;
Normalized EBITDA profit / (loss) for the three-months ended September 30, 2014 was ($80,898), a decrease of $363,594 from $282,696 for the three months ended September 30, 2013, and a decrease of $474,004 from $393,246 for the three-months ended June 30, 2014(1);
Total revenue was $4,693,705 for the three-months ended September 30, 2014, down $477,850 (9.2%) from $5,171,555 for the three-months ended September 30, 2013 and down $640,885 (12.0%) from $5,334,590 for the three-months ended June 30, 2014;
Gross profit was $2,103,058 for the three-months ended September 30, 2014, up $56,034 (2.7%) from $2,047,024 for the three-months ended September 30, 2013, and down $191,281 (8.3%) from $2,294,339 for the three-months ended June 30, 2014;
Operating expenses were $2,400,530 for the three-months ended September 30, 2014, up $102,202 (4.4%) from $2,298,328 for the three-months ended September 30, 2013, and down $353,405 (12.8%) from $2,753,935 for the three-months ended June 30, 2014; and Included in cost of sales and operating expenses for the three-months ended September 30, 2014, September 30, 2013 and June 30, 2014 were certain one time non-recurring expenditures, non-cash amortization of intangible assets and property plant and equipment, non-cash stock-based compensation time non-recurring expenditures, non-cash amortization of intangible assets and property plant and equipment, non-cash stock-based compensation expense and non-cash impairment to assets totaling $216,574, $513,143 and $636,342 respectively.

(1) During the three-months ended June 30, 2014, the Company incurred a one-time change in estimate of the Company’s investment tax credits receivable, which transpired as a result of a review of the projects eligible for investment tax credits during the 2013 fiscal year. The change in estimate resulted in an increased one-time expenditure to the technology expense of $216,500 for the three-months ended June 30, 2014. The Company applied the $216,500 ratably to the 2013 quarters to calculate the Normalized EBITDA.

The Company’s merchant base processed debit and credit card transactions totalling $262,961,695 ($1,051,846,779 on an annualized basis presuming processing volumes were consistent throughout fiscal 2014 with the Company’s processing volumes realized for the three-months ended September 30, 2014) compared to $168,518,483 for the three-months ended September 30, 2013 and $251,091,345 for the three-months ended June 30, 2014.

As at September 30, 2014 Zomaron has 2,852 active merchants which compares to 2,711 (an increase of 4.9%) and 1,985 (an increase of 43.7%) active merchants as at June 30, 2014 and September 30, 2013 respectively. The September 30, 2013 figures were prior to the date of acquisition of Zomaron by the Company. As a result of the Company and its sales agents to target higher volume customers during the three-months ended June 30, 2014 and September 30, 2014, the average merchant amount processed by the Company’s merchants increased to $92,203 for the three-months ended September 30, 2014 compared to $84,896 for the three-months ended September 30, 2013 and the Company achieved a similar result of $92,619 for the three-months ended June 30, 2014. The processing of debit and credit card transactions is somewhat seasonally based, as a result of the demographics of Zomaron’s merchant base. That being said, the processing volumes are generally consistent between the three-months ended June 30th and September 30th.

Non-GAAP Reporting Measures:
Management reports on certain non-GAAP measures to evaluate performance of the Company. EBITDA is a measure commonly reported and widely used by investors as an indicator of a company’s operating performance and ability to incur and service debt, and as a valuation metric. While EBITDA has been disclosed herein to permit a more complete comparative analysis of the Company’s operating performance and debt servicing ability relative to other companies, investors are cautioned that EBITDA as reported by HDX may not be comparable in all instances to EBITDA as reported by other companies. For definitions of Non-GAAP measures, refer to the Company’s annual management discussion and analysis for the three and nine-months ended September 30, 2014. Additional information on HDX third quarter 2014 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com .

About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through. HDX develops, deploys, and supports a restaurant POS software known as “Maitre ‘D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 96 value added reseller partners in 25 countries with approximately 550 reseller representatives selling, supporting & installing its software. HDX employs approximately 140 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 27th 2014 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

HDX reaches North American distribution agreement with Casio America Inc.

TORONTO, Oct. 23, 2014 /CNW/ – Posera-HDX Ltd. (TSX – “HDX”) announced today that it has reached an agreement with Casio America, Inc. (“Casio”) of Dover, New Jersey to distribute point-of-sale (“POS”) terminals and cash registers throughout North America. Founded in 1946, Casio began North American operations in 1967, and released its first electronic cash register in 1976. Today Casio’s extensive product line includes “all-in-one” Android-based POS terminals designed specifically for secure retail and hospitality industries. Casio also offers entry level cash registers and mid-range cash registers with payment processing and loyalty solution integration capabilities.

HDX has been a Master Distributor of cash registers and POS terminals to Canadian Resellers since April 1995 and has distributed tens of thousands of units to over sixty resellers in Canada. HDX has historically acquired Japanese manufactured terminals inside Canada at a cost disadvantage to US counterparts. The Casio partnership provides HDX with a broader product line and allows HDX to acquire terminals at US rates and distribute them throughout the United States and Canada. HDX has over forty resellers throughout the US that it has previously been unable to supply with cash registers due to the cross border contract restraints with a previous manufacturer who has exited the cash register market. HDX will also distribute Casio terminals direct to end users from its corporate US offices
through a direct sales team.

HDX will combine its software solutions with the Casio hardware suite to offer merchants best-in-breed POS and payment solutions in time for the upcoming United States Merchant Liability Shift for EMV Chip and PIN slated for October 2015. HDX has developed and deployed EMV Chip and PIN enabled solutions at thousands of merchant locations throughout Europe and Canada over many years and is well prepared to scale the combined organization for the coming opportunity in the USA.

Paul Howell, CEO of HDX commented “Casio is a well-respected, high quality manufacturer of POS equipment with a proven track record for innovation and an enormous base of deployed terminals. Our sales agents and reseller partners throughout North America are in need of a more complete product offering and this agreement will provide our associates with the necessary tools to grow our business. The partnership with Casio is an important strategic development for our company to provide entry level, secure POS solutions combined with integrated payment solutions and enterprise management solutions to new and existing merchants throughout North America.”

HDX has demonstrated a clear strategy toward building its US operations and has successfully acquired and integrated seven businesses between 2007 and 2013. Merger and acquisition activity for 2014 has been especially aggressive in advance of the United States Merchant Liability Shift for EMV Chip and PIN slated for October 2015.

On June 18th 2014, HDX announced a letter of intent to acquire Terminal Management Concepts Ltd., a Markham, Ontario based Payments Software Developer specializing in EMV Chip and PIN pay-at-the-table wireless solutions with integrations to multiple POS software solutions that are deployed throughout the USA and Canada.

On October 1st 2014, HDX announced a letter of intent to acquire the Chicago area company Premier Payment Systems Inc. Founded in 2010, Premier Payment Systems Inc. provides payment processing solutions for debit and credit transactions to clients throughout the United States. Premier has established its own Bank Identification Number (“BIN”), maintains multiple front-end authorization network agreements, holds its payment processing agreements directly with its merchants, performs its own ongoing risk monitoring and underwriting, and has the ability to transfer its merchant processing base from one back-end settlement network and Sponsor Bank to another if necessary.

In December 2013, HDX acquired payments processing company Zomaron Merchant Services (“Zomaron”) of London Ontario. Since September 2013, Zomaron has grown its merchant client base by 43% and the average monthly processing volume per merchant has increased from approximately $18,126 to $20,988.

The completion of any transaction as contemplated by the above noted Letters of Intent are subject to several conditions, including the completion of all necessary legal, financial and technical due diligence reviews, the entering into a definitive agreement between the parties and receipt of all necessary consents and approvals, including board and regulatory approvals.

About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware integration services, merchant staff training, system installation services, and POS software and hardware support services.

HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

HDX develops, deploys, and supports a restaurant POS software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 99 value added reseller partners in 25 countries with approximately 550 reseller representatives selling, supporting & installing its software. HDX has offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 27th 2014 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

Posera – HDX proposes private placement of Subscription Receipts to raise up to $5.0 million

TORONTO, Oct. 8, 2014 /CNW/ – Posera – HDX Limited (“Posera – HDX” or the “Company”) is pleased to announce that it has engaged Global Maxfin Capital Inc., as lead agent, to sell, on an agency basis, by way of private placement, up to 15,625,000 subscription receipts (“Subscription Receipts”) of the Company at a price of CDN $0.32 per Subscription Receipt for gross proceeds of up to CDN $5.0 million (the “Offering”). Each Subscription Receipt, upon satisfaction of the Release Conditions (described below) will be automatically exercise into one HDX common share. The Company’s common shares are listed on the Toronto Stock Exchange (the “TSX”) under the symbol “HDX”. The Offering is being undertaken, in part to raise capital to satisfy the cash portion of the purchase price of the recently announced letter of intent to acquire 100% of the shares of Premier Payments Systems Inc. (“Premier”), to retire certain outstanding debt obligations and to increase the working capital position of the Company.

As announced on October 1st, 2014, the Company has signed a letter of intent to acquire Premier Payments Systems Inc. (“Premier”). Founded in 2010, Premier provides payment processing solutions for debit and credit transactions to clients throughout the United States. Based in the Western Suburbs of Chicago, Illinois Premier is superbly situated to fuel HDX’s growth strategy in the United States.

There are over 1.2 billion magnetic stripe cards in circulation, 15 million magnetic stripe point-of-sale (“POS”) terminals, and approximately 8000 banking institutions managing electronic payments, yet the United States is one of the last jurisdictions in the world to implement EMV chip and PIN technology.
EMV (“Europay/MasterCard/Visa”), formed in 1993, manages the standards by which the world’s point of sale solutions and ATM’s meet security standards and achieve interoperability related to the acceptance of payment via chip based credit cards. Cardholder signatures are not a reliable method of identification and magnetic stripe data is easily copied, reproduced, and distributed. By the end of 1992, in order to address the problem of fraud related to magnetic-stripe credit cards, France had already converted all of the country’s point of sale equipment and consumer credit cards to chip and PIN technology.

On March 31st 2011, Visa Canada, MasterCard Canada and their card issuing partners implemented a domestic card Liability Shift whereby the liability for fraudulent transactions shifted to merchants that had not implemented Chip and PIN technology. The major US credit card companies have announced that this Liability Shift will take place in October 2015 in the United States. This is an aggressive timeframe
and the race to deploy solutions will be highly disruptive. Time-challenged merchants are advised to work with solution vendors that are experienced in facilitating EMV transaction processing.

HDX will ramp quickly to offer merchants best-in-breed payment processing and point-of-sale solutions in time for the upcoming liability shift. HDX has developed and deployed EMV Chip and PIN enabled solutions at thousands of merchant locations throughout Europe and Canada over many years and believes that upon completion of the Premier acquisition it will be well prepared to scale the combined organization to address deployment of EMV and PIN solutions in the United States.

Premier has established its own BIN (“Bank Identification Number”), maintains multiple front-end authorization network agreements, holds its payment processing agreements directly with its merchants, performs its own ongoing risk monitoring and underwriting, and has the ability to transfer its merchant processing base from one back-end settlement network and sponsor bank to another if necessary.

Financing Details
The gross proceeds from the Offering will be held in escrow and released to be applied in part to complete the Premier acquisition following the receipt of all required approvals and consents and the satisfaction of all conditions precedent other than payment of the proceeds for the Premier acquisition (the “Release Conditions”). Unless consent of the Subscription Receipt holders is obtained, in the event that the Release Conditions are not satisfied on or before January 15, 2015 (the “Release Deadline”), holders of the Subscription Receipts shall be entitled to receive, in exchange for such holders’ Subscription Receipts, an amount equal to the aggregate purchase price paid for their Subscription Receipts.

Completion of the Offering is subject to receipt of all necessary regulatory and other approvals, including TSX approval. It is anticipated that the closing of the Offering will occur on or about October 23, 2014 and the completion of the Premier acquisition will occur on or about January 15th, 2015
This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 “US Securities Act”) or any state securities laws and may not be offered or sold within the United States of America 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. Additional information on Posera- HDX is available in the financial reports filed by the Company with SEDAR at www.sedar.com and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com .

About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware support services.

HDX leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

HDX develops, deploys, and supports a restaurant point-of-sale software known as “Maître ‘D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 99 value added reseller partners in 25 countries with approximately 550 reseller representatives selling, supporting & installing its software. HDX has offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 27th 2014 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

HDX Announces Financial Results for the Second Quarter of 2014

TORONTO, Aug. 15, 2014 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “HDX”) announced today its financial results for the three and six-months
ended June 30th, 2014. HDX is listed on the TSX under the symbol “HDX”.
Paul Howell, Chief Executive Officer, reports:
The Company achieved strong sales, service, and payments processing revenue, in the second quarter of 2014. The Company also continued to integrate business units, and build new software products and tools. In addition, the Company is examining merger and acquisition opportunities in Canada and the United States.
Quarterly Highlights and Summary
The Company continued to achieve strong top-line revenue during the second quarter of 2014. Company revenue was $5,334,590 for the three-months ended June 30, 2014, an increase of $1,029,060 (23.9%) from $4,305,530 for the three-months ended June 30, 2013.
The Company has experienced a Normalized EBITDA profit for the three-months ended June 30, 2014 of $393,246, an improvement of $495,784 from a
Normalized EBITDA loss of $102,538 for the three-months ended June 30, 2013.

  • Total revenue was $5,334,590 for the three-months ended June 30, 2014, up $1,029,060 (23.9%) from $4,305,530 for the three-months ended June 30, 2013
    and up $612,966 (13.0%) from $4,721,624 for the three-months ended March 31, 2014;
  • Total gross payment processing fees was $3,917,007 for the three-months ended June 30, 2014, up $3,913,880 (125,164.1%) from $3,127 for the threemonths
    ended June 30, 2013 and up $1,177,131 (43.0%) from $2,739,876 for the three-months ended March 31, 2014;
  • Net loss for the three-months ended June 30, 2014 was a loss of $627,569, an increase of $276,580 from a loss of $350,989 for the three-months ended June
    30, 2013, and an increase of $188,584 from a loss of $438,985 for the three-months ended March 31, 2014;
  • EBITDA loss for the three-months ended June 30, 2014, was $177,086, an increase of $75,258 from $101,828 for the three-months ended June 30, 2013, and
    an increase of $22,746 from $154,340 for the three-months ended March 31, 2014;
  • Normalized EBITDA(1) profit(loss) for the three-months ended June 30, 2014 was $393,246, an improvement of $495,784 from ($102,538) for the threemonths
    ended June 30, 2013, and an improvement of $513,096 from ($119,850) for the three-months ended March 31, 2014;
  • Gross profit was $2,294,339 for the three-months ended June 30, 2014, up $609,351 (36.2%) from $1,684,988 for the three-months ended June 30, 2013, and
    up $141,677 (6.6%) from $2,152,662 for the three-months ended March 31, 2014;
  • Operating expenses were $2,753,935 for the three-months ended June 30, 2014, up $648,020 (30.8%) from $2,105,915 for the three-months ended June 30,
    2013, and up $163,287 (6.3%) from $2,590,648 for the three-months ended March 31, 2014; and
  • Included in cost of sales and operating expenses for the three-months ended June 30, 2014, June 30, 2013 and March 31, 2014 were certain one-time nonrecurring
    expenditures, non-cash amortization of intangible assets and property plant and equipment, non-cash stock-based compensation expense and
    non-cash impairment to assets totaling $636,342, $326,714 and $318,136 respectively.

(1) During the three-months ended June 30, 2014, the Company incurred a one-time change in estimate of the Company’s investment tax credits receivable,
which transpired as a result of a review of the projects eligible for investment tax credits during the 2013 fiscal year. The change in estimate resulted in an
increased one-time expenditure to the technology expense of $216,500 for the three- months ended June 30, 2014. The Company applied the $216,500 ratably to
the 2013 quarters to calculate the Normalized EBITDA.
The Company’s merchant base processed debit and credit card transactions totalling $251,091,345 ($1,004,365,380 on an annualized basis presuming
processing volumes were consistent throughout fiscal 2014 with the Company’s processing volumes realized for the three-months ended June 30, 2014) during the
three-months ended June 30, 2014 compared to $145,205,386 for the three-months ended June 30, 2013 and $172,962,789 for the three-months ended March 31,
2014. As at June 30, 2014 the Zomaron has 2,711 active merchants which compares to 2,426 (an increase of 11.7%) and 1,689 (an increase of 60.5%) active
merchants as at March 31, 2014 and June 30, 2013 respectively. The June 30, 2013 figures were prior to the date of acquisition of Zomaron by the Company. Due
to seasonality between the first and second quarter and as a result of the focus of the Company to target higher volume customers, the average merchant amount
processed by the Company’s merchants increased to $92,619 for the three-months ended June 30, 2014 compared to $71,295 for the three-months ended March
31, 2014 $85,971 for the three-months ended June 30, 2013. The processing of debit and credit card transactions is somewhat seasonally and the three-months
ended March 31st tends to be the slowest period during the year for transaction processing.
Strategic Initiatives
While the Company is in advanced discussions with a number of potential acquisition targets, none are specifically named at this time other than the previous
June 18th 2014 announcement that the Company entered into a letter of intent to acquire Terminal Management Concepts Ltd. (“TMC”) of Markham, Ontario. The
terms of the potential transaction are not disclosed.
TMC provides wireless EMV chip and PIN “pay at the table” credit and debit card processing software and hardware solutions to Canadian merchants nationwide.
Based in Markham, Ontario, TMC has deployed its payment software solutions through direct sales and strategic partnerships with the world’s largest payment
terminal manufacturers. TMC’s solutions and services integrate directly with most of the leading restaurant point-of-sale (“POS”) applications world-wide. Because
TMC’s middle-ware product is POS solution agnostic, payment processing relationships can be achieved regardless of the POS solution employed by a particular
restaurant.
TMC has built “pay at the table” solutions that are used in over two thousand Canadian locations. This transaction would bolster the Company’s strategy of
providing integrated payment solutions to new merchants and existing clients that already utilize HDX products and services. TMC’s products would also allow the
HDX sales team the ability to achieve payment processing relationships with restaurants that currently use competitive POS solutions. TMC’s software, in
conjunction with HDX’s intellectual property and services, would provide merchants with one-stop-shopping, one monthly payment, and one source for technical
support of all of their retail technology solutions. TMC’s business model supports HDX’s ability to grow payment processing revenue, profitability, and TMC’s
recurring revenue model is very attractive to HDX.
TMC’s solutions can be marketed and deployed in the United States where the requirement for “pay at the table” solutions is becoming a necessary part of
restaurant operations due to the introduction of EMV chip and PIN requirements and the credit card / merchant liability shift due to take place in October of 2015.
The Company continues to pursue the opportunity to deploy “pay at the table” solutions with payment processing contracts in the United States and believes the
opportunity is substantial. There are over 1.2 billion magnetic stripe cards in circulation, 15 million magnetic stripe POS terminals, and thousands of banking
institutions managing electronic payments.
Theft of credit card account numbers and personal information through security breaches have resulted in an industry decision to employ EMV chip and PIN
technology in the United States. Cardholder signatures are not a reliable method of identification and magnetic stripe data are easily copied, reproduced, and
distributed as evidenced by hundreds of millions of consumer credit card accounts being compromised in recent history. As a result, the United States is now
implementing EMV chip and PIN technology. Similar to previous jurisdictions, such as Canada in 2011, the liability for fraudulent transactions will shift to
merchants that have not implemented Chip and PIN technology. Given the compressed timetable resulting from the October 2015 Liability Shift, merchants are
seeking experienced organizations to implement EMV Chip and PIN.
HDX has developed and deployed POS software solutions at thousands of merchant locations in Europe and Canada and all of our software solutions have been
EMV Chip and PIN enabled and certified for many years now. As a result, we believe we are well positioned to take advantage of the market opportunity presented
in the United States.
Non-GAAP Reporting Measures:
Management reports on certain non-GAAP measures to evaluate performance of the Company. EBITDA is a measure commonly reported and widely used by
investors as an indicator of a company’s operating performance and ability to incur and service debt, and as a valuation metric. While EBITDA has been disclosed
herein to permit a more complete comparative analysis of the Company’s operating performance and debt servicing ability relative to other companies, investors
are cautioned that EBITDA as reported by HDX may not be comparable in all instances to EBITDA as reported by other companies. For definitions of Non-GAAP
measures, refer to the Company’s annual management discussion and analysis for the three and six-months ended June 30, 2014.
Additional information on HDX second quarter 2014 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com.
About the Company
HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS
system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware
integration services, merchant staff training, system installation services, and post sale software and hardware support services.
HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals.
These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially
effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
Zomaron Inc., a division of HDX, founded in 2008, provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London,
Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships,
Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked on PROFIT magazine’s 13th and 14th annual
PROFIT HOT 50 issues in October 2012 and 2013 respectively. Zomaron’s solutions and services can also be marketed and deployed in the United States.
HDX develops, deploys, and supports a restaurant point-of-sale software known as “Maitre ‘D” which has been deployed in over 20,000 locations worldwide in eight
different languages. The Company sells and services its clients directly, as well as through a network of approximately 99 value added reseller partners in 25
countries with approximately 550 reseller representatives selling, supporting & installing its software. HDX employs approximately 140 people in offices in Toronto,
London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.
Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our
business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be
forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent
they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future
results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 27th
2014 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

Posera-HDX Announces Annual Meeting Results

TORONTO, June 19, 2014 /CNW/ – Paul K. Howell, CEO of Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) is pleased to announce the results of the Company’s 2013 annual and special meeting of shareholders (the “Meeting”) held in Toronto, Ontario on June 18, 2014. Posera-HDX is listed on the TSX under the symbol “HDX”.

At the Meeting, all director nominees listed in the Company’s management information circular dated May 9th, 2014 were elected as directors of the Company. The detailed results of the vote by ballot are as follows:

In addition, at the Meeting, shareholders reappointed PricewaterhouseCoopers LLP, as auditors of the Company, and approved the continuation of Stock Option Plan of the Corporation. The formal report of voting results with respect to all matters voted upon at the Meeting was filed on SEDAR at  www.sedar.com .

About the Company
Posera-HDX Ltd. develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 96 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera-HDX employs approximately 137 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Posera-HDX Ltd. to Acquire Terminal Management Concepts Ltd. (TMC)

TORONTO, June 18, 2014 /CNW/ – Paul Howell, CEO of Posera-HDX Ltd. (“HDX”) announced today that HDX has signed a letter of intent to acquire Terminal Management Concepts Ltd. (“TMC”) of Markham, Ontario. The terms of the transaction were not disclosed. Posera-HDX is listed on the TSX under the symbol “HDX”. TMC provides wireless EMV chip and PIN “pay at the table” credit and debit card processing software and hardware solutions to Canadian merchants nationwide.

Based in Markham, Ontario, TMC has deployed its payment software solutions through direct sales and strategic partnerships with the world’s largest payment terminal manufacturers. TMC’s solutions and services integrate directly with most of the leading restaurant point-of-sale (“POS”) applications world-wide. Because TMC’s middle-ware product is POS solution agnostic, payment processing relationships can be achieved regardless of the POS solution employed by a particular restaurant. TMC’s solutions can be marketed and deployed in the United States where the requirement for “pay at the table” solutions is becoming a necessary part of restaurant operations due to the introduction of EMV chip and PIN requirements and the credit card / merchant liability shift due to take place in October of 2015.

Paul Howell, CEO of Posera-HDX commented “We are very excited to announce the acquisition of TMC. TMC has built “pay at the table” solutions that are used in over two thousand Canadian locations and the annoucment of our partnership could not come at a better time. This transaction bolsters our strategy of providing integrated payment solutions to new merchants and existing clients that already utilize HDX products and services. TMC’s products gives our sales team the ability to achieve payment processing relationships with restaurants that currently use competitive POS solutions. TMC’s software, in conjunction with HDX’s intellectual property and services, provides merchants with one-stop-shopping, one monthly payment, and one source for technical support of all of their retail technology solutions. TMC’s business model supports HDX’s ability to grow payment processing revenue, profitability, and TMC’s recurring revenue model is very attractive to HDX. The opportunity for our Company to deploy “pay at the table” solutions with payment processing contracts in the United States is enormous”.

The need for more secure forms of payment processing has become abundantly clear in recent years. News regarding the theft of credit card account numbers and personal information has occurred multiple times. In 2013, between 40 and 70 million consumer credit card numbers were stolen from a large US retailer. In 2009, data from 130 million credit card holders was stolen from a large US credit card processor. In 2007, 90 million credit card accounts were compromised through security breaches at a major US retailer and the US government today continues to investigate a group of breaches at convenience stores, retailers, and airlines resulting in more than 190 million accounts being compromised.

These security breaches have resulted in an industry decision to employ EMV chip and PIN technology in the United States. There are over 1.2 billion magnetic stripe cards in circulation, 15 million magnetic stripe POS terminals, and thousands of banking institutions managing electronic payments. However the United States is one of the last jurisdictions in the world to implement EMV chip and PIN technology.
Cardholder signatures are not a reliable method of identification and magnetic stripe data is easily copied, reproduced, and distributed. By the end of 1992, in order to address the problem of fraud related to magnetic-stripe credit cards, France converted all of the country’s POS equipment and consumer credit cards to chip and PIN technology.

EMV (“Europay/MasterCard/Visa”), formed in 1993, manages the standards by which the world’s POS solutions and ATM’s (“Automated Teller Machine”) meet security standards and achieve interoperability related to the acceptance of payment via chip based credit cards. On March 31st 2011, Visa Canada, MasterCard Canada and their card issuing partners implemented a domestic card Liability Shift whereby the liability for fraudulent transactions shifted to merchants that had not implemented Chip and PIN technology. The major US credit card companies have announced that this Liability Shift will take place in October 2015 in the United States. This is an aggressive timeframe and the race to deploy solutions will be highly disruptive. Time-challenged merchants are advised to work with solution vendors that are experienced in facilitating EMV transaction processing.

Posera-HDX Ltd. has developed and deployed POS software solutions at thousands of merchant locations in Europe and Canada and all of our software solutions have been EMV Chip and PIN enabled and certified for many years now. Because of the breadth and quality of our solution and service offerings, our Company is well positioned to take advantage of the market opportunity presented in the United States. One of the Company’s strengths has been its ability to integrate and build on acquisitions both to build our customer base, and to acquire superior technologies that can be used by our entire customer base. The Company is dedicated to providing end-to-end solutions for POS, Payments Processing, Enterprise Management, Client Loyalty, and Site Security.

HDX and TMC have agreed to negotiate a definitive agreement exclusively with each other. The transaction is subject to a number of conditions including the parties reaching a definitive agreement and receiving all necessary regulatory approvals.

About HDX
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through. Posera-HDX Ltd. develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 96 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera-HDX employs approximately 137 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

To find out more about Posera-HDX Ltd., visit our websites at www.hdxsolutions.com , www.maitredpos.com , and www.zomaron.com .
To find out more about TMC please visit www.terminalmanagement.ca

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially
from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 29th 2014 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Ontario Convenience Store Association Selects Zomaron for Payment Processing

TORONTO, June 9, 2014 /CNW/ – Zomaron Inc. (a wholly owned division of Posera-HDX Ltd.) (TSX: HDX) (The Company) announced today that the Ontario Convenience Store Association (“OCSA”) has selected Zomaron Merchant Services as their preferred provider of payment processing solutions across the province.

The OCSA has over 6,000 members including gas stations and variety stores. The association required a reliable, reputable, and competitive member partner for electronic payments processing solutions for its membership base across Ontario. A recent survey of OCSA members showed that independent convenience stores were in need of better customer service, more advanced payment processing
tools, and that they currently pay a higher Effective Merchant Discount Rate (“EMDR”) to accept electronic credit and debit card payments. While offering higher quality payment processing solutions and personalized customer service, Zomaron is also able to pass on significant savings to independent and chain store members of OCSA with the preferred rates that the OCSA and Zomaron have agreed upon.

“Convenience stores in Ontario deserve to have a vendor that allows them to compete with processing costs that larger retailers in Ontario enjoy. We are pleased to have Zomaron offer competitive rates for our members. Zomaron has demonstrated a strong level of service for small businesses in the province,” said Dave Bryans, the CEO of OCSA.

“We are very proud to provide our payment processing solutions to the OCSA members,” said Tarique Al-Ansari, President of Zomaron Merchant Services. “The selection process was very thorough and we competed against multiple competitors, but our cost effectiveness, quality of processing solutions and dedicated personalized approach allowed us the chance to win the OCSA business.”

About the Company
Founded in 2008, Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked on PROFIT magazine’s 13th and 14th annual PROFIT HOT 50 issues in October 2012 and 2013 respectively. Zomaron’s solutions and services can also be marketed and deployed in the United States.
Zomaron’s parent company, Posera-HDX Ltd., is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS
applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through. Posera-HDX Ltd. develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 103 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera-HDX employs approximately 137 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 29th 2014 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

Posera-HDX Announces Financial Results for the First Quarter of 2014

TORONTO, May 14, 2014 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announced today its financial results for the three-months ended March 31st, 2014. Posera-HDX is listed on the TSX under the symbol “HDX”.

Paul Howell, Chief Executive Officer, reports:
Although inclement weather and slow economic activity hampered the Company’s efforts, Posera-HDX Ltd. achieved improved levels of revenue and EBITDA for the three-months ended March 31, 2013, when compared to the three-months ended March 31, 2013. On December 9th, 2013 the Company completed the acquisition of Zomaron Inc. (“Zomaron”). The acquisition of Zomaron, a rapidly growing company with a successful management team with now over 160 sales agents, will be instrumental in the Company’s growth strategy and lays the groundwork for significant sales growth for the remainder of 2014 and beyond.

Despite the fact that the first quarter is traditionally a slow period for new system sales in the hospitality industry, Company revenue was strong at $4,721,624 for the three-months ended March 31, 2014, an increase of $628,038 (15.3%) from $4,093,586 for the three-months ended March 31, 2013. The Company’s merchant base processed debit and credit card transactions totalling $172,962,789 ($691,851,156 on an annualized basis) during the three months ended March 31, 2014 compared to $41,816,054 ($707,071,464 on an annualized basis) for the twenty-two days post the December 9th, 2013 acquisition to the Company’s December 31, 2013 year-end. The first quarter typically is the slowest processing period for debit and credit card transactions, as compared to the fourth quarter, which is typically the strongest period for payment processing. As at March 31, 2014 Zomaron has 2,426 active merchants which compares to 1,420 (an increase of 70.8%) and 2,209 (an increase of 9.82%) active merchants as at March 31, 2013 and December 31, 2013 respectively. The processed debit
and credit card transactions are somewhat seasonal based on the sales of Zomaron’s merchants, where the three-months ended March 31st tends to be the slowest, and the three-months ended December 31st tends to be the most robust.

The Company has experienced a Normalized EBITDA loss for the three-months ended March 31, 2014 of $119,580, an improvement of $156,822 (56.7%) from a Normalized EBITDA loss of $276,402 for the three-months ended March 31, 2013. The Company incurred amortization of acquired intangible assets of $260,924 (2013 – $326,065), amortization of property plant and equipment was $22,722 (2013 – $36,921), one-time expenses of $31,912 (2013 – $8,319) and stock-based compensation of $2,578 (2013 – $12,199) for the three-months ended March 31, 2014 and 2013 respectively.

Quarterly Highlights and Summary
Total revenue was $4,721,624 for the three-months ended March 31, 2014, up $628,038 (15.3%) from $4,093,586 for the three-months ended March 31, 2013 and down ($1,219,117) (20.5%) from $5,940,741 for the three-months ended December 31, 2013;
Total point-of-sale revenue was $4,348,770 for the three-months ended March 31, 2014, up $257,485 (6.3%) from $4,091,285 for the three-months ended March 31, 2013 and down $1,438,286 (24.9%) from $5,787,056 for the three-months ended December 31, 2013;
Total payment processing revenue was $372,854 for the three-months ended March 31, 2014, up $370,553 (16,104.0%) from $2,301 for the three-months ended March 31, 2013 and up $219,169 (142.6%) from $153,685 for the three-months ended December 31, 2013;
Total gross payment processing fees was $2,739,876 for the three-months ended March 31, 2014, up $2,736,970 (941.8%) from $2,906 for the three-months ended March 31, 2013 and up $2,026,071 (283.8%) from $713,805 for the three-months ended December 31, 2013;
Net loss for the three-months ended March 31, 2014 was a loss of $438,985, an increase of $161,739 from a loss of $600,724 for the three-months ended March 31, 2013, and a decrease of $799,758 from income of $360,773 for the three-months ended December 31, 2013;
EBITDA loss for the three-months ended March 31, 2014, was $154,340, an improvement of $142,580 from an EBITDA loss of $296,920 for the three-months ended March 31, 2013, and a decrease of $1,009,111 from an EBITDA profit of $854,771 for the three-months ended December 31, 2013;
Normalized EBITDA loss for the three-months ended March 31, 2014 was $119,850, an improvement of $156,552 from a Normalized EBITDA loss of $276,402 for the three-months ended March 31, 2013, and a decrease of $1,049,552 from a Normalized EBITDA income of $929,703 for the three-months ended December 31, 2013;
Gross profit was $2,152,662 for the three-months ended March 31, 2014, up $636,706 (42.0%) from $1,515,956 for the three-months ended March 31, 2013, and down $532,922 (19.8%) from $2,685,584 for the three-months ended December 31, 2013;
Operating expenses were $2,590,648 for the three-months ended March 31, 2014, up $549,628 (26.9%) from $2,041,056 for the three-months ended March 31, 2013, and up $369,919 (16.7%) from $2,220,765 for the three-months ended December 31, 2013;
Included in cost of sales and operating expenses for the three-months ended March 31, 2014, March 31, 2013 and December 31, 2013 were certain one-time non-recurring expenditures, non-cash amortization of intangible assets and property plant and equipment, non-cash stock-based compensation expense and non-cash impairment to assets totaling $318,136, $383,505 and $260,795 respectively;

Non-GAAP Reporting Measures:
Management reports on certain non-GAAP measures to evaluate performance of the Company. EBITDA is a measure commonly reported and widely used by investors as an indicator of a company’s operating performance and ability to incur and service debt, and as a valuation metric. While EBITDA has been disclosed herein to permit a more complete comparative analysis of the Company’s operating performance and debt servicing ability relative to other companies, investors are cautioned that EBITDA as reported by Posera-HDX may not be comparable in all instances to EBITDA as reported by other companies. For definitions of Non-GAAP measures, refer to the Company’s annual management discussion and analysis for the three-months ended March 31, 2014.

Additional information on HDX first quarter 2014 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com .

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through. Founded in 2008, Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked on PROFIT magazine’s 13th and 14th annual PROFIT HOT 50 issues in October 2012 and 2013 respectively. Zomaron’s solutions and services can also be marketed and deployed in the United States.

Posera-HDX Ltd. develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 93 value added reseller partners in 25 countries with approximately 550 representatives selling, supporting & installing its software. Posera-HDX employs approximately 139 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 27th 2014 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

Posera-HDX Announces Record Financial Results for Fiscal 2013

TORONTO, March 27, 2014 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company”) announced today its financial results for the three-months and year ending December 31st, 2013. HDX is listed on the TSX under the symbol “HDX”.

Paul Howell, Chief Executive Officer, reports:
Posera-HDX Ltd. achieved record levels of revenue and EBITDA for the 2013 fiscal year and also for the three-months ending December 31st, 2013. On December 9th, 2013 the Company completed the acquisition of Zomaron Inc. (“Zomaron”). The acquisition of Zomaron, a rapidly growing company with a successful and accomplished management team and over 140 sales agents, will be instrumental in the Company’s growth strategy and lays the groundwork for significant sales growth in 2014 and beyond. The Company achieved record revenue and EBITDA prior to the acquisition, when excluding revenues and EBITDA derived from the acquisition of Zomaron.

The Company’s total revenue was $19,511,412 for the year-ended December 31, 2013, an increase of $3,065,306 (18.6%) from $16,446,106 for the year-ended December 31, 2012. EBITDA profit of $943,596, for the year-ended December 31, 2013 an increase of $2,065,961 from a loss of ($1,122,365) for the year-ended December 31, 2012.

The Company achieved revenue of $5,940,741 for the three-months ended December 31, 2013; an increase of $1,403,213 (30.9%) from $4,537,528 for the three months ended December 31, 2012 and up $769,186 (14.9%) from $5,171,555 for the three-months ended September 30, 2013. EBITDA profit for the three-months ended December 31, 2013, was $854,771, an increase of $1,288,869 from a loss of ($434,098) for the three-months ended December 31, 2012, and an increase of $297,916 from an EBITDA profit of $556,855 for the three-months ended September 30, 2013.

In the twenty-two days subsequent to the date of acquisition of Zomaron during the remainder of fiscal 2013, Zomaron’s merchant base processed credit and debit transactions totalling $41,816,054. The Company recorded $150,526 of payment processing revenue, which resulted from $710,068 of gross payment processing fees for the remaining twenty-two days of December 31, 2013. For the year-ended December 31, 2013 Zomaron had 2,209 active merchants which compares to 1,299 active merchants as at December 31, 2012, which was prior to the date of acquisition of Zomaron by Posera-HDX Ltd.

There are over 20,000 merchants world-wide that operate Posera-HDX’s software solutions. The Company anticipates that integration work between Posera-HDX’s software solutions and Zomaron’s payment solutions will be completed in 2014. Complimentary marketing and sales operations of intercompany products commenced during December of 2013 with a numerous clients contracting the Company to provide solutions from both divisions. The Company continues to pursue acquisitions within the point of sale and payments industries although none are specifically named at this time.

Year-ended December 31, 2013 – Highlights and Summary
Revenues and earnings for the combined entity for the year-ended December 31, 2013 includes twenty-two days of operating results for Zomaron Inc. (“Zomaron”) whom was acquired on December 9, 2013, whereas revenues and earnings for the year-ended December 31, 2012 does not include a full twelve months of operations for Zomaron;
Net income (loss) for the year-ended December 31, 2013 was a loss of ($992,438), a decrease of ($3,800,786) from a loss of ($4,793,224) for the year-ended December 31, 2012;
EBITDA profit (loss) for the year-ended December 31, 2013 was $943,596, an increase of ($2,065,961) from a loss of ($1,122,365) for the year-ended December 31, 2012;
Normalized EBITDA profit (loss) for the year-ended December 31, 2013 was $818,301, an increase of $1,344,236 from ($525,935) for the year- ended December 31, 2012;
Total revenue was $19,511,412 for the year-ended December 31, 2013, up $3,065,306 (18.6%) from $16,446,106 for the year-ended December 31, 2012;
Total point of sale revenue was $19,350,796 for the year-ended December 31, 2013, up $2,916,421 (17.7%) from $16,434,375 for the year-ended December 31, 2012;
Total payment processing revenue was $160,616 for the year-ended December 31, 2013, up $148,885 (1,269.2%) from $11,731 for the year-ended December 31, 2012;
Total gross payment processing fees was $722,511 for the year-ended December 31, 2013, up $709,894 (5,626.5%) from $12,617 for the year-ended December 31, 2012;
Gross profit was $7,933,552 for the year-ended December 31, 2013, up $1,926,856 (32.1%) from $6,006,696 for the year-ended December 31, 2012;
Operating expenses were $8,666,064 for the year-ended December 31, 2013, down $2,341,614 (21.3%) from $11,007,678 for the year-ended December 31, 2012; and
Operating expenses net of the impairment of assets were $8,403,789 for the year-ended December 31, 2013, down $184,025 (2.1%) from $8,587,814 for the year-ended December 31, 2012.

Three-months ended December 31, 2013 (Unaudited) – Highlights and Summary
Revenues and earnings for the combined entity for the three months-ended December 31, 2013 includes twenty-two days of operating results for the acquired entity Zomaron Inc. (“Zomaron”) which was acquired on December 9, 2013, whereas revenues and earnings for the three-months ended December 31, 2012 and September 30, 2013 does not include the twenty-two days of operations for Zomaron;
Net income (loss) for the three-months ended December 31, 2013 was income of $360,773, an increase of $3,257,662 from a loss of ($2,896,889), for the three-months ended December 31, 2012, and an increase of $40,725 from a loss of ($401,498) for the three-months ended September 30, 2013;
EBITDA profit (loss) for the three-months ended December 31, 2013, was a profit of $854,771, an increase of $1,288,869 from a loss of ($434,098) for the three-months ended December 31, 2012, and an increase of $297,916 from an EBITDA profit of $556,855 for the three-months ended September 30, 2013;
Normalized EBITDA profit (loss) for the three-months ended December 31, 2013 was $929,702, an increase of $1,102,075 from ($172,373) for the three months ended December 31, 2012, and an increase of $647,006 from $282,696 for the three-months ended September 30, 2013;
Total revenue was $5,940,741 for the three-months ended December 31, 2013, up $1,403,213 (30.9%) from $4,537,528 for the three-months ended December 31, 2012 and up $769,186 (14.9%) from $5,171,555 for the three-months ended September 30, 2013;
Gross profit was $2,685,584 for the three-months ended December 31, 2013, up $1,046,885 (63.9%) from $1,638,699 for the three-months ended December 31, 2012, and up $638,560 (31.2%) from $2,047,024 for the three-months ended September 30, 2013;
Operating expenses were $2,220,765 for the three-months ended December 31, 2013, down  $2,602,006 (54.0%) from $4,822,771 for the three-months ended December 31, 2012, and down $77,563 (3.4%) from $2,298,328 for the three-months ended September 30, 2013;
Included in cost of sales and operating expenses for the three-months ended December 31, 2013, December 31, 2012 and September 30, 2013 were certain one-time non-recurring expenditures, non-cash amortization of intangible assets and property plant and equipment, non-cash stock-based compensation expense and non-cash impairment to assets totaling $260,795, $2,896,412 and $513,143 respectively;
Posera-HDX’s cash and cash equivalents totaled $2,954,115 as at December 31, 2013, an increase of $1,903,674 (181.2%) from $1,050,441 as at December 31, 2012, and an increase of $1,808,525 (157.9%) from $1,145,590 as at September 30, 2013. Bank indebtedness was $207,101 as at December 31, 2013,
a decrease of $49,683 (19.3%) compared to $256,784 as at December 31, 2012, and an increase of $147,101 (245.2%) compared to $60,000 as at September 30, 2013.

Posera-HDX’s working capital totaled $595,493 as at December 31, 2013, an increase of $44,136 (8.0%) from $551,357 as at December 31, 2012, and an increase of $511,337 (607.6%) from $84,156 as at September 30, 2013.

Non-GAAP Reporting Measures:
Management reports on certain non-GAAP measures to evaluate performance of the Company. EBITDA is a measure commonly reported and widely used by investors as an indicator of a company’s operating performance and ability to incur and service debt, and as a valuation metric. While EBITDA has been disclosed herein to permit a more complete comparative analysis of the Company’s operating performance and debt servicing ability relative to other companies, investors are cautioned that EBITDA as reported by Posera-HDX may not be comparable in all instances to EBITDA as reported by other companies. For definitions of Non-GAAP measures, refer to the Company’s annual management discussion and analysis for the fourth quarter and fiscal 2013. Additional information on HDX fourth quarter 2013 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Founded in 2008, Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked on PROFIT magazine’s 13th and 14th annual PROFIT HOT 50 issues in October 2012 and 2013 respectively. Zomaron’s solutions and services can also be marketed and deployed in the United States.
Posera-HDX Ltd. develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 96 value added reseller partners in 25 countries with approximately 550 representatives selling, supporting & installing its software. Posera-HDX employs approximately 139 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 27th 2014 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

Sigma Capital Partners makes Equity Investment and advises Posera-HDX Ltd.

TORONTO, Feb. 4, 2014 /CNW/ – Paul K. Howell, CEO of Posera-HDX Ltd. Reports:
Posera-HDX Limited (“Posera-HDX” or the “Company”) recently announced the closing of a private  placement of Posera-HDX Common Shares. The Company issued a total of 3,108,667 Common Shares for gross proceeds of $932,600.

Sigma Capital Partners (Sigma), a U.S. based technology private equity fund, has made an equity investment of $500,000 USD and acted as an advisor in respect to the Common Shares issued. Sigma received an advisor’s fee of $35,000 USD together with warrants to acquire 177,533 Common Shares. The warrants are exercisable for a period of two years at an exercise price of $0.45 per Common Share.
Commented Maydan Rothblum, Managing Director at Sigma: “Given our experience in the transaction processing space, we believe that there are significant growth opportunities in this segment and that Posera-HDX is well positioned to capitalize on them. We are excited to become an equity investor and are looking forward to helping the Company expand its U.S. presence, both from a business development and capital markets perspective.”

Due to the requirement for EMV compliant payment technologies in the United States, and the announced fraudulent transaction liability shift from major credit card companies to merchants in October of 2015, Posera-HDX Ltd. anticipates rapid growth of new payment solution deployment in the United States in the coming years.

“The Sigma team has demonstrated that they understand our industry, our company, and the opportunities available to Posera-HDX over the coming years” said Paul Howell, CEO of Posera-HDX. “Maydan has followed our company and provided valuable guidance and insight for a number of years and this recent transaction has formalized our already complementary relationship. Posera-HDX is honoured to work with Sigma.

Sigma Capital Partners, LLC, through its affiliate fund Sigma Opportunity Fund II, LLC, is a multi-strategy private equity firm that focuses on investing in small-tomid size companies operating primarily in the IT, Telecom, Technology and Business Services industries. Sigma works closely with management to unlock
shareholder value and provide guidance and assistance in the areas of finance, operations, strategy, M&A and business development.

For more information, please visit: www.sigmacp.com

The Company’s Common Shares are listed on the Toronto Stock Exchange (the “TSX”) under the symbol “HDX”. The proceeds from the private placement are currently primarily targeted to be utilized to (i) increase the working capital position of the Company and (ii) expand its workforce in connection with growing its current business and in order to take advantage of the opportunities presented by the recent acquisition of Zomaron Inc. The Common Shares being issued pursuant to the private placement were approved for listing on the Toronto Stock Exchange.

About the Company
With proven experience in EMV Chip and PIN compliant technologies, Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services. Posera-HDX Ltd. acquired Zomaron Inc. in December 2013. Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide.

Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked on PROFIT magazine’s 13th and 14th annual PROFIT HOT 50 ranking. The addition of Zomaron’s 150 sales agents will greatly increase Posera-HDX’s ability to market and distribute the Company’s leading edge technology including prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Posera-HDX Limited develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 96 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera-HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Additional information on Posera-HDX is available in the financial reports filed by the Company with SEDAR at www.sedar.com and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com

This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 “US Securities Act”) or any state securities laws an may
not be offered or sold within the United States of 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.

Forward-Looking Statements
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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Zomaron Inc. (a division of Posera-HDX Ltd.) to provide Payment Processing solutions to Vet Alliance™

TORONTO, Jan. 27, 2014 /CNW/ – Zomaron Inc. (a wholly owned division of Posera-HDX Ltd.) announced today that the Vet Alliance™ has selected Zomaron Inc. as their nationwide provider of payment processing solutions. Vet Alliance™ supports over eight hundred and seventy five veterinary hospitals across Canada. The association required a reliable, reputable, and competitive partner for payments processing solutions for its nationwide membership.

“We are very proud to provide our payment processing solutions to the Vet Alliance.” said Joseph Jongsma, Vice President of Sales at Zomaron Inc. “We look forward to a long and enduring partnership with this successful and well-respected association.”

About Zomaron Inc.
Founded in 2008, Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked on PROFIT magazine’s 13th and 14th annual PROFIT HOT 50 issues in October 2012 and 2013 respectively. Zomaron’s solutions and services can also be marketed and deployed in the United States.
Upon successful integration with parent company Posera-HDX Ltd., Zomaron’s national sales force of over one hundred and sixty agents and direct sales representatives will be able to offer point of sale solutions, ATM’s, digital video surveillance solutions, web based restaurant enterprise management solutions, web based employee labour scheduling solutions, and payment processing solutions. The new combined company will allow the national sales team to provide merchants and associations with a single point of contact for deployment and support of their in-house transaction technology requirements.

About Posera-HDX
Posera-HDX is a leading hospitality software provider that operates offices in Toronto, Seattle, Montreal, Paris and Glasgow, and has a reseller network that covers North America, Europe, the Middle East, Singapore, and Australia. The Maitre’D software suite offers seamlessly integrated solutions that provide
restaurant managers with the tools that they need to streamline their operations and increase profitability. These solutions are designed to meet any concept’s specific needs, with customizable POS, Back-Office, and Corporate solutions.

Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware support services.

Forward-Looking Statements
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera – HDX Completes Private Placement of Convertible Debentures

TORONTO, Jan. 17, 2014 /CNW/ – Posera – HDX Limited (“Posera – HDX” or the “Company”) is pleased to announce that further to the press release dated November 29, 2013, it has completed the closing of its private placement of Posera – HDX Convertible Debentures. On January 15, 2014 the Company issued a total of $1.5 million (principal amount) of unsecured convertible subordinated debentures (the “Offering”). The unsecured convertible subordinated debentures (“Convertible Debentures”) will mature on January 15, 2017 will pay interest at a rate of 10.25% per annum, payable monthly. Each Convertible Debenture will be convertible into Posera – HDX Common Shares at $0.45 per Posera – HDX Common Share until January 15, 2016 and at $0.60 per Posera – HDX Common Share thereafter until maturity. The offering price of each Convertible Debenture was $900 per $1,000 principal amount resulting in gross proceeds to Posera – HDX of $1.35 million. Posera – HDX paid a finders fee equal to 5.0% of the gross proceeds of the Offering.

The Company’s common shares are listed on the Toronto Stock Exchange (the “TSX”) under the symbol “HDX”. The proceeds from the private placement are currently primarily targeted to be utilized to (i) increase the working capital position of the Company and (ii) expand its workforce in connection with growing its current business and in order to take advantage of the opportunities presented by the recent acquisition of Zomaron Inc. The common shares issuable upon conversion of the Convertible Debentures have been conditionally approved for listing on the Toronto Stock Exchange.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 “US Securities Act”) or any state securities laws an may not be offered or sold within the United States of 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.

About the Company
Posera – HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera – HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera – HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Posera – HDX Limited develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 113 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera – HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Additional information on Posera- HDX is available in the financial reports filed by the Company with SEDAR at www.sedar.com and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com

Forward-Looking Statements
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera – HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera – HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

2013

Posera – HDX Completes Second Tranche of Private Placement of Common Shares

TORONTO, Dec. 24, 2013 /CNW/ – Posera – HDX Limited (“Posera – HDX” or the “Company”) is pleased to announce that further to the press release dated November 27, 2013, it has completed the second closing of its private placement of Posera-HDX Common Shares. In the second closing on December 19, 2013 the Company issued a total of 4,050,000 Common Shares at a price of $0.30 per share for gross proceeds of $1,215,000. PowerOne Capital Markets Limited acted as a finder in respect of the Common Shares issued in the second closing and received a cash finder’s fee of 7% of the gross proceeds together with finders’ warrants to acquire 405,000 Common Shares. The finders’ warrants are exercisable for a period of two years at an exercise price of $0.30 per Common Share.

Together with the initial closing of the private placement of Common Shares, the Company has raised gross proceeds of $2,147,600 from the sale of its Common Shares. The Company’s Common Shares are listed on the Toronto Stock Exchange (the “TSX”) under the symbol “HDX”. The proceeds from the private placement are currently primarily targeted to be utilized to (i) increase the working capital position of the Company and (ii) expand its workforce in connection with growing its current business and in order to take advantage of the opportunities presented by the recent acquisition of Zomaron Inc.
The common shares being issued pursuant to the private placement have been conditionally approved for listing on the Toronto Stock Exchange.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 “US 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.

Forward-Looking Statements
This press release includes certain forward-looking statements that are based upon current  expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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Posera – HDX Completes Acquistion of Zomaron Inc.

TORONTO, Dec. 10, 2013 /CNW/ – Posera – HDX Limited (“Posera – HDX” or the “Company”) is pleased to announce the completion of its acquisition of all the issued and outstanding shares of Zomaron Inc. (“Zomaron”).

“The completion of this transaction is a very significant milestone for our Company” commented Paul Howell, CEO of Posera-HDX. Zomaron’s successful and professional team and their complete line of payment processing product offerings are highly complementary to our existing suite of hospitality industry software solutions and services.”

Founded in 2008, Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked on PROFIT magazine’s 13th and 14th annual PROFIT HOT 50 issues in October 2012 and 2013 respectively. Zomaron’s solutions and services can also be marketed and deployed in the United States.

The combined Company’s national sales force of over one hundred and sixty agents and direct sales representatives will now be able to offer a much wider range of products and services to new and existing merchants. Point of sale solutions, ATM’s, digital video surveillance solutions, web based restaurant enterprise management solutions, web based employee labour scheduling solutions, as well as payment processing solutions will allow the national sales team to provide merchants with a single point of contact for deployment and support of their in-house transaction technology requirements.

Tarique Al-Ansari, President of Zomaron commented, “Our team is very excited to join Posera-HDX and bring our vast selection of payment processing solutions to HDX’s clients. The synergies are apparent as HDX, a leader in the restaurant & hospitality industry; combined with our expertise forms a team that will accelerate the growth we’ve experienced over the past couple of years.”

Electronic payment processing technologies are evolving rapidly. The increasing requirement for secure digital payment options that protect shoppers, merchants, and banks from fraudulent activity is creating significant market disruption which provides increased business opportunities for Posera-HDX’s solutions and services. For example, EMV Chip and PIN technology, as required in Canada, has not been a payment processing requirement in the United States to date.

However in March 2012 Visa, MasterCard, American Express, and Discover announced their migration plans to EMV for the United States. The liability for fraudulent credit card transactions will shift from the credit card company to the merchant on October 2015 necessitating solution upgrades and / or entire system changes at millions of merchant locations throughout the United States. All of Posera-HDX’s solutions have been EMV chip and PIN enabled and certified since 2012.

A further competitive advantage for the company is the fact that Posera-HDX is able to bundle its solutions and offer financing and leasing for combinations of its products. This creates very attractive and affordable business transaction management packages for merchants for over long term contracts.
The total purchase price paid for the Zomaron acquisition was $3.0 million. The purchase price was satisfied through the issuance of 4,000,000 common shares of the Company and the payment of $1.8 million in cash. The common shares being issued pursuant to the acquisition of Zomaron have been conditionally approved for listing on the Toronto Stock Exchange.

Additional information on Posera- HDX is available in the financial reports filed by the Company with SEDAR at www.sedar.com and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Posera-HDX Limited develops, deploys, and supports a restaurant point-of-sale and enterprise management software known as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 96 value added reseller partners in 25 countries with approximately 550 representatives selling, supporting & installing its software. Posera-HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.) and Paris (France).

Forward-Looking Statements
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera – HDX proposes private placements to raise up to $4.0 million

TORONTO, Nov. 29, 2013 /CNW/ – Posera – HDX Limited (“Posera – HDX” or the “Company”) is pleased to announce that it is in negotiations to complete twoseparate private placement financings to raise gross proceeds of up to $4.0 million.

Posera-HDX is proposing to complete a private placement of HDX Common Shares (“Share Offering”). Currently, the Share Offering is contemplated to be in respect of a maximum of approximately 5,330,0000 Posera-HDX Common Shares and a minimum of 3,333,333 Posera-HDX Common Shares at a price per share of $0.30, resulting in maximum gross proceeds of $1.6 million. Posera-HDX will pay a finder’s fee in respect of a portion of the Share Offering equal to a cash fee of 7.0% plus finders’ warrants exercisable for 2 years at $0.30 per Posera-HDX Common Share to acquire shares equal to 10% of the shares issued in the Share Offering for which a cash finder’s fee is payable.

In addition to the Share Offering, Posera-HDX is proposing to offer in a brokered private placement up to $2.4 million (principal amount) of unsecured convertible subordinated debentures (the “CD Offering”). Each unsecured convertible subordinated debenture (a “Convertible Debenture”) will mature on the third anniversary of its issuance and will pay interest at a rate of 10.25% per annum, payable monthly. Each Convertible Debenture will be convertible into Posera – HDX Common Shares at $0.45 per Posera – HDX Common Share until the second anniversary of its issuance date and at $0.60 per Posera- HDX Common Share thereafter until maturity. The offering price of each Convertible Debenture will be $900 per $1,000 principal amount. Posera-HDX is currently in negotiations in respect of an agency agreement for the CD Offering pursuant to which the agents would receive a cash commission equal to 5.0% of the gross proceeds of the CD Offering.

The Company’s Common Shares are listed on the Toronto Stock Exchange (the “TSX”) under the symbol “HDX”. A portion of the proposed CD Offering is being undertaken to satisfy the cash components of the proposed acquisition by the Company of 100% of the shares of Zomaron Inc. (“Zomaron”). The remainder of the proceeds from the financings are currently primarily targeted to be utilized to (i) increase the working capital position of the Company and (ii) expand its workforce
in connection with growing its current business and in order to take advantage of the opportunities presented by the Zomaron acquisition.

Completion of the Offerings is subject to receipt of all necessary regulatory and other approvals, including Toronto Stock Exchange approval. This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 “US Securities Act”) or any state securities laws an may not be offered or sold within the United States of 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.

As announced in April 2013, the Company has signed a letter of intent to acquire Zomaron. Founded in 2008, Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nationwide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked on PROFIT magazine’s 13th and 14th annual PROFIT HOT 50 ranking released in October 2012 and 2013 issues respectively. Zomaron’s solutions and services can also be marketed and deployed in the United States. Additional information on Posera- HDX is available in the financial reports filed by the Company with SEDAR at www.sedar.com  and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com .

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Posera-HDX Limited develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 113 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera-HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX Announces Record Sales Revenue and 28% EBITDA Growth for the Third Quarter of 2013

TORONTO, Nov. 14, 2013 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announced today its financial results for the three and nine months ended September 30th, 2013. Posera-HDX is listed on the TSX under the symbol “HDX”.

Paul Howell, Chief Executive Officer, reports:
The Company’s strong performance continued and accelerated in the third quarter. New sales of restaurant management solutions, existing client site upgrades, software license revenues, and growing recurring contract revenues contributed to the Company achieving its’ best quarter on record.
The Company achieved quarterly revenue of $5,171,555 for the three-months ended September 30, 2013, an increase of $1,138,981 (28.2%) from $4,032,574 for the three-months ended September 30, 2012. This resulted in the Company realizing an EBITDA profit for the three-months ended September 30, 2013 of $556,855, an increase of $784,264 from a ($227,409) loss for the three-months ended September 30, 2012, and an increase of $727,965 from a ($171,110) loss for the three-months ended June 30, 2013. Net Income was $410,839 excluding a non-cash write-down of $331,059 for certain processing assets, non-cash amortization of intangible assets property plant and equipment of $477,100 and non-cash stock-based compensation of $4,178.

The Company continues to pursue strategic acquisitions within the Point-of-Sale (“POS”) and Payment Processing industries and has recently announced a letter-of-intent to acquire Zomaron Inc., operating as Zomaron Merchant Services (“Zomaron”), which the Company anticipates will close during the fiscal year 2013. Founded in 2008, Zomaron provides debit and credit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton, AB, Toronto, ON, and Montreal, QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth. Zomaron’s exponential growth led it to be included on PROFIT magazine’s 14th and 13th annual PROFIT HOT 50 ranking released in its October, 2013 and 2012 issue. Zomaron’s solutions and services can also be marketed and deployed in the United States.
Today, Zomaron provides payments processing services to approximately 2,300 merchants. The opportunity to integrate payments processing services with Posera-HDX Ltd.’s solutions which are installed in the Company’s existing merchant / user base of over 25,000 restaurants is very compelling.
In keeping with the Company’s long-term goal of reducing un-necessary monthly expenditures, the Company’s reduced its annual team member costs by approximately $220,000 per year. Furthermore, the ATM Sales and Processing division, HDX Payment Processing Ltd. (“HDXPP”), has finalized a Shared Cash Dispensing (“SCD”) agreement, to outsource the processing of ATM transactions. As a result of this Agreement, which the Company expects to be fully implemented during the first quarter of 2014, the Company expects non-team member expenditure reductions and profitability improvements in the range of $300,000 to $400,000 annually. Further, as a result of the Company’s decision to outsource, the Company incurred a non-cash write-down of $331,059 for certain processing assets during the three and nine-months ended September 30, 2013.

HDXPP experienced an EBITDA profit (loss) for the three-months ended September 30, 2013 of ($157,176), an increase of $15,431 from ($172,607) for the three months ended September 30, 2012, and a decrease of $4,162 from ($153,014) for the three-months ended June 30, 2013. As a result of the outsourcing agreement, the Company expects to reduce HDXPP’s EBITDA loss in the range of $75,000 to $100,000 quarterly.

Quarterly Highlights and Summary
Total revenue was $5,171,555 for the three-months ended September 30, 2013, up $1,138,981 (28.2%) from $4,032,574 for the three-months ended September 30, 2012 and up $866,026 (20.1%) from $4,305,530 for the three-months ended June 30, 2013;
EBITDA profit for the three-months ended September 30, 2013, was $556,855, an increase of $784,264 from a loss of $227,409 for the three-months ended September 30, 2012, and an increase of $727,965 from $171,110 for the three-months ended June 30, 2013;
Net Income was $410,839 excluding a non-cash write-down of $331,059 for certain processing assets, non-cash amortization of intangible assets property plant and equipment of $477,100 and non-cash stock-based compensation of $4,178.
Including a non-cash write-down of $331,059 for certain processing assets, non-cash amortization of intangible assets property plant and equipment of $477,100. Net loss for the three-months ended September 30, 2013 was a loss of $401,498, a decrease of $278,494 from a loss of $679,992 for the three months ended September 30, 2012, and an increase of $50,508 from a loss of $350,989 for the three-months ended June 30, 2013;
Gross profit was $2,047,024 for the three-months ended September 30, 2013, up $543,664 (36.2%) from $1,503,360 for the three-months ended September 30, 2012, and up $362,037 (21.5%) from $1,684,988 for the three-months ended June 30, 2013;
Operating expenses were $2,298,328 for the three-months ended September 30, 2013, up $202,089 (9.6%) from $2,096,239 for the three-months ended September 30, 2012, and up $192,413 (9.1%) from $2,105,915 for the three-months ended June 30, 2013;
Included in cost of sales and operating expenses for the three-months ended September 30, 2013, September 30, 2012 and June 30, 2013 were certain one time non-recurring expenditures, non-cash amortization of intangible assets and property plant and equipment, non-cash stock-based compensation expense and non-cash impairment to assets totaling $513,143, $195,203 and $326,714 respectively;
The Company incurred non-cash amortization of intangible assets property plant and equipment of $477,100 and $354,972 for the three months ended September 30, 2013 and 2012 respectively.
Non-IFRS Reporting Measures: Management reports on certain Non-IFRS (“International Financial Reporting Standards”) measures to evaluate performance of the Company. Non-IFRS measures are also used to determine compliance with debt covenants and manage the capital structure. Because non-IFRS measures do not generally have a standardized meaning, securities regulations require that non-IFRS measures be clearly defined and qualified, and reconciled with their nearest IFRS measure. The Canadian Institute of Chartered Accountants (CICA) Canadian Performance Reporting Board has issued guidelines that define standardized earnings before interest, taxes, depreciation and amortization (EBITDA). For definitions of Non-IFRS measures, refer to the Company’s quarterly management discussion and analysis for the three-months ended September 30, 2013.

Additional information on Posera- HDX’s third quarter 2013 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com  and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com .

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through. Posera-HDX Limited develops, deploys, and supports a restaurant POS software known as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 96 value added reseller partners in 25 countries with approximately 550 representatives selling, supporting & installing its software. Posera-HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX Announces Double-Digit Growth in Preliminary Revenue Estimate for the Third Quarter of 2013

TORONTO, Oct. 3, 2013 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announced today its preliminary revenue estimates for the three and nine-months ended September 30th, 2013. Posera-HDX is listed on the TSX under the symbol “HDX”.

Paul Howell, Chief Executive Officer, reports:
The Company’s strong performance in fiscal 2013 continued and accelerated in the third quarter of 2013. The Company expects revenue for the three-months ended September 30, 2013 to be in the range of $4,970,000 to $5,260,000, compared to $4,032,574 for the three-months ended September 30, 2012 and $4,305,530 for the three-months ended June 30, 2013 which would represent an increase in revenue in the range of 23% to 31% over third quarter 2012 revenue and 15% to 21% over second quarter 2013 revenue. This translates to revenue for the nine-months ended September 30, 2013 being in the range of $13,370,000 to $13,660,000, compared to $11,908,578 for the nine-months ended September 30, 2012, an increase in revenue in the range of 12% to 22% over the comparable 2012 period.

These unaudited preliminary revenue estimates are, in accordance with normal procedures, subject to further review procedures and completion by the Company and its auditors. The preliminary revenue estimates for the three and nine-months ended September 30, 2013 are being disclosed as the Company is in discussions regarding proposed terms of a private placement of equity securities and subordinated debt (collectively the “Financing”). A portion of the net proceeds of such a Financing,
if completed, would be used to complete the proposed acquisition of Zomaron Inc., operating as Zomaron Merchant Services (“Zomaron”), which the Company anticipates will close during the fourth quarter of 2013. The balance of the net proceeds of the potential Financing would be used for working capital purposes and other general corporate purposes.

The Company expects to file its unaudited interim financial statements for the three and nine-months ended September 30, 2013 in the normal course. The Company does not expect to provide further or updated preliminary guidance in advance of the final results for the three and nine-months ended September 30, 2013. Further, the Company does not intend to release preliminary financial results on a continuing basis in future periods.

As announced in April 2013, the Company has signed a letter of intent to acquire Zomaron. Founded in 2008, Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nationwide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked on PROFIT magazine’s 13th and 14th annual PROFIT HOT 50 ranking released in October 2012 and 2013 issues respectively. Zomaron’s solutions and services can also be marketed and deployed in the United States.

Additional information on Posera- HDX is available in the financial reports filed by the Company with SEDAR at www.sedar.com and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com .

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Posera-HDX Limited develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 97 value added reseller partners in 25 countries with approximately 550 representatives selling, supporting & installing its software. Posera-HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France).

Forward-Looking Statements
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ
materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Posera-HDX Announces Financial Results for the Second Quarter of 2013

TORONTO, Aug. 14, 2013 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announced today its financial results for the three and six months ended June 30th, 2013. Posera-HDX is listed on the TSX under the symbol “HDX”.

Paul Howell, Chief Executive Officer, reports:
The Company’s strong performance continued in the second quarter, with revenue of $4,305,530 for the three-months ended June 30, 2013, an increase of $59,570 (1.4%) from $4,245,960 for the three-months ended June 30, 2012.

The Company continues to pursue strategic acquisitions within the Point-of-Sale (“POS”) and Payment Processing industries and has recently announced a letter-of-intent to acquire Zomaron Inc., operating as Zomaron Merchant Services (“Zomaron”), which the Company anticipates will close during the fiscal year 2013.

Founded in 2008, Zomaron provides debit and credit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton, AB, Toronto, ON, and Montreal, QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked NO.15 on PROFIT magazine’s 13th annual PROFIT HOT 50 ranking released in its October, 2012 issue. Zomaron’s solutions and services can also be marketed and deployed in the United States.

In keeping with the Company’s long term business plan, Posera-HDX continues to make significant investments to enhance systems, facilities, and operating procedures in order to secure and maintain the necessary approvals to operate a payment processing switch and an ATM transaction processing switch. Team members and contractors with the appropriate industry expertise have been retained to allow the Company to develop the payment processing division with an eye toward monetizing the Company’s investment in this division as quickly as possible.

The Company has experienced a Normalized EBITDA profit (loss) for the three-months ended June 30, 2013 of ($117,695), a decrease of $118,452 from a Normalized EBITDA profit (loss) of $757 for the three-months ended June 30, 2012. The Company incurred amortization of intangible assets property plant and equipment of $286,562 and $32,537 (2012- $320,407 and $49,049) for the three-months ended June 30, 2013 and 2012 respectively. HDX Payment Processing Ltd. (formerly Cash N Go Ltd. a payments processing company) experienced an EBITDA loss for the three-months ended June 30, 2013 of $153,014, an increase of $41,170 from an EBITDA loss of $111,844 for the three-months ended June 30, 2012. The Company expects to continue to make significant investments in this division into the foreseeable future and will strive to increase revenue for this division as quickly as possible.

Quarterly Highlights and Summary
Total revenue was $4,305,530 for the three-months ended June 30, 2013, up $59,570 (1.4%) from $4,245,960 for the three-months ended June 30, 2012 and up $211,944 (5.2%) from $4,093,586 for the three-months ended March 31, 2013;
Net loss for the three-months ended June 30, 2013 was a loss of $350,989, a decrease of $90,037 from a loss of $441,026 for the three-months ended June 30, 2012, and a decrease of $249,735 from a loss of $600,724 for the three-months ended March 31, 2013;
EBITDA loss for the three-months ended June 30, 2013, was $171,110, an increase of $36,867 from an EBITDA loss of $134,243 for the three-months ended June 30, 2012, and a decrease of $125,810 from an EBITDA loss of $296,920 for the three-months ended March 31, 2013;
Normalized EBITDA profit (loss) for the three-months ended June 30, 2013 was ($117,695), a decrease of $118,452 from a Normalized EBITDA profit(loss) of $757 for the three-months ended June 30, 2012, and an increase of $158,707 from a Normalized EBITDA profit(loss) of ($276,402) for the three-months ended March 31, 2013;
Gross profit was $1,684,988 for the three-months ended June 30, 2013, up $131,070 (8.4%) from $1,553,918 for the three-months ended June 30, 2012, and up $169,032 (11.2%) from $1,515,956 for the three-months ended March 31, 2012;
Operating expenses were $2,105,915 for the three-months ended June 31, 2013, up $47,910 (2.3%) from $2,058,005 for the three-months ended June 30, 2012, and up $64,859 (3.2%) from $2,041,056 for the three-months ended March 31, 2012; and Included in cost of sales and operating expenses for the three-months ended June 30, 2013, June 30, 2012 and March 31, 2012 were certain one-time nonrecurring expenditures, non-cash amortization of intangible assets and property plant and  equipment, non-cash stock-based compensation expense and non-cash impairment to assets totaling $326,714, $477,346 and $383,505 respectively.

Non-IFRS Reporting Measures: Management reports on certain Non-IFRS (“International Financial Reporting Standards”) measures to evaluate performance of the Company. Non-IFRS measures are also used to determine compliance with debt covenants and manage the capital structure. Because non-IFRS measures do not generally have a standardized meaning, securities regulations require that non-IFRS measures be clearly defined and qualified, and reconciled with their nearest IFRS measure. The Canadian Institute of Chartered Accountants (CICA) Canadian Performance Reporting Board has issued guidelines that define standardized earnings before interest, taxes, depreciation and amortization (EBITDA). For definitions of Non-IFRS measures, refer to the Company’s quarterly management discussion and analysis for the three-months ended June 30, 2013.

Additional information on Posera- HDX’s second quarter 2013 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com.

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile POS terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Posera-HDX Limited develops, deploys, and supports a restaurant POS software known as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 100 value added reseller partners in 25 countries with approximately 550 representatives selling, supporting & installing its software. Posera-HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

Posera-HDX Announces the Results of its 2012 Meeting of Shareholders

TORONTO, June 24, 2013 /CNW/ – Paul K. Howell, CEO of Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) is pleased to announce the results of the Company’s 2012 annual and special meeting of shareholders (the “Meeting”) held in Toronto, Ontario on June 20, 2013. Posera-HDX is listed on the TSX under the symbol “HDX”. At the Meeting, all director nominees listed in the Company’s management information circular dated May 10th, 2013 were elected as directors of the Company. The detailed results of the vote by ballot are as follows:

 

In addition, at the Meeting, shareholders reappointed PricewaterhouseCoopers LLP, Chartered Accountants of London, Ontario as auditors of the Company. The formal report of voting results with respect to all matters voted upon at the Meeting was filed on SEDAR at www.sedar.com .

About the Company
Posera-HDX Limited develops, deploys, and supports a restaurant point-of-sale software known as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 113 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera-HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Posera-HDX Announces Financial Results for the First Quarter of 2013

TORONTO, May 15, 2013 /CNW/ – Posera-HDX Ltd. (TSX: HDX) (the “Company” or “Posera-HDX”) announced today its financial results for the three-months ended March 31st, 2013. Posera-HDX is listed on the TSX under the symbol “HDX”.

Paul Howell, Chief Executive Officer, reports:
Although the first quarter is traditionally a slow period for new system sales in the hospitality industry, Company revenue was strong at $4,093,586 for the three months ended March 31, 2013, an increase of $463,542 (12.8%) from $3,630,044 for the three-months ended March 31, 2012.

The Company continues to pursue strategic acquisitions within the point-of-sale and payments industries and has recently announced a letter of intent to acquire Zomaron Inc., operating as Zomaron Merchant Services (“Zomaron”). Founded in 2008, Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices
in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales  representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked NO.15 on PROFIT magazine’s 13th annual PROFIT HOT 50 ranking released in its October 2012 issue. Zomaron’s solutions and services can also be marketed and deployed in the United States. In keeping with the Company’s long term business plan, Posera-HDX continues to make significant investments to enhance systems, facilities, and operating
procedures in order to secure and maintain the necessary approvals to operate a payment processing switch and an ATM transaction processing switch. Team members and contractors with the appropriate industry expertise have been retained to allow the Company to develop the payment processing division with an eye toward monetizing the Company’s investment in this division as quickly as possible.

The Company has experienced a Normalized EBITDA loss for the three-months ended March 31, 2013 of $276,402, a decrease of $45,711 from a Normalized EBITDA loss of $322,113 for the three-months ended March 31, 2012. The Company incurred amortization of acquired intangible assets of $326,065 (2012- $320,407) and amortization of property plant and equipment was $36,921 (2012 – $47,036) for the three-months ended March 31, 2013 and 2012 respectively. HDX Payment Processing Ltd. (formerly Cash N Go Ltd. a payments processing company) experienced an EBITDA loss for the three-months ended March 31, 2013 of $134,272, an increase of $13,529 from an EBITDA loss of $120,743 for the three-months ended March 31, 2012. Additionally, Posera-HDX Scheduler Inc. (the acquired assets of 2020 ITS Inc.) experienced EBITDA income for the three-months-ended March 31, 2013 of $6,521, an increase of $20,448 from an EBITDA loss of $13,927 for the three-months ended March 31, 2012. The Company expects to continue to make significant investments in these divisions into the foreseeable
future and will strive to increase revenue for these divisions and products as quickly as possible.

Quarterly Highlights and Summary

Total revenue was $4,093,586 for the three-months ended March 31, 2013, up $463,542 (12.8%) from $3,630,044 for the three-months ended March 31, 2012 and down $443,942 (9.8%) from $4,537,528 for the three-months ended December 31, 2012;
Net loss for the three-months ended March 31, 2013 was a loss of $600,724, a decrease of $174,593 from a loss of $775,317 for the three-months ended March 31, 2012, and a decrease of $2,296,165 from a loss of $2,896,899 for the three-months ended December 31, 2012;
EBITDA loss for the three-months ended March 31, 2013, was $296,920, a decrease of $29,695 from an EBITDA loss of $326,615 for the three-months ended March 31, 2012, and a decrease of $137,178 from an EBITDA loss of $434,098 for the three-months ended December 31, 2012;
Normalized EBITDA loss for the three-months ended March 31, 2013 was $276,402, a decrease of $45,711 from a Normalized EBITDA loss of $322,113 for the three-months ended March 31, 2012, and an increase of $104,029 from a Normalized EBITDA loss of $172,373 for the three-months ended December 31, 2012;
Gross profit was $1,515,956 for the three-months ended March 31, 2013, up $205,237 (15.7%) from $1,310,719 for the three-months ended March 31, 2012, and down $122,743 (7.5%) from $1,638,699 for the three-months ended December 31, 2012;
Operating expenses were $2,041,056 for the three-months ended March 31, 2013, up $10,393 (0.5%) from $2,030,663 for the three-months ended March 31, 2012, and down $2,781,715 (57.7%) from $4,822,771 for the three-months ended December 31, 2012; and Included in cost of sales and operating expenses for the three-months ended March 31, 2013, March 31, 2012 and December 31, 2012 were certain one-time non-recurring expenditures, non-cash amortization of intangible assets and property plant and equipment, non-cash stock-based compensation expense and non-cash impairment to assets totaling $383,505, $371,945 and $3,048,082 respectively.

Non-IFRS Reporting Measures: Management reports on certain Non-IFRS (“International Financial Reporting Standards”) measures to evaluate performance of the Company. Non-IFRS measures are also used to determine compliance with debt covenants and manage the capital structure. Because non-IFRS measures do not generally have a standardized meaning, securities regulations require that non-IFRS measures be clearly defined and qualified, and reconciled with their nearest IFRS measure. The Canadian Institute of Chartered Accountants (CICA) Canadian Performance Reporting Board has issued guidelines that define standardized earnings before interest, taxes, depreciation and amortization (EBITDA). For definitions of Non-IFRS measures, refer to the Company’s quarterly management discussion and analysis for the three-months ended March 31, 2013.

Additional information on Posera- HDX’s first quarter 2013 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com and posted to the Investor Relations section of the Company’s website at www.hdxsolutions.com .

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through. Posera-HDX Limited develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 113 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera-HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

Posera-HDX Ltd. to Acquire Payments Company Zomaron Inc.

TORONTO, April 10, 2013 /CNW/ – Posera-HDX Ltd. (“HDX”) announced today that it has signed a letter of intent to acquire Zomaron Inc., operating as Zomaron Merchant Services (“Zomaron”) of London, Ontario. The terms of the transaction were not disclosed.

Posera-HDX is listed on the TSX under the symbol “HDX”. Founded in 2008, Zomaron Merchant Services provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron’s exponential growth led it to be ranked NO.15 on PROFIT magazine’s 13th annual PROFIT HOT 50 ranking released in its October 2012 issue. Zomaron’s solutions and services can also be marketed and deployed in the United States. Zomaron has boarded up to one hundred and thirteen merchants per month and up to one hundred and forty four payment terminals per month.

Paul Howell, CEO of Posera-HDX commented “We are very excited to announce the merger of the Zomaron team with HDX. This transaction is in keeping with our strategy to provide integrated payment solutions to new and existing merchants that already utilize HDX products and services. The Zomaron business model, in conjunction with HDX’s intellectual property and services, provides merchants with one-stop-shopping, one monthly payment, and one source for technical support of all of their retail technology solutions. The team at Zomaron have demonstrated exceptionally effective skills in marketing, deploying, and supporting payment solutions while growing their business at impressive year over year multiples. The steady growth of Zomaron’s payment processing revenue, profitability, and
recurring residual revenue is very attractive to HDX”.

Zomaron products include retail debit/credit payment terminals, pay-at-the-table and wireless payment devices, as well as ecommerce and smartphone payments services, allowing Zomaron to provide business owners with secure, reliable and cost-effective payment solutions. Zomaron currently deploys its solutions to automobile dealerships, medical and professional offices, as well as traditional restaurant and retail environments.

“Our corporate philosophies towards providing quality products and excellent customer service are closely aligned and the organic growth and cross selling opportunities between our companies are powerful” says Tarique Al-Ansari, President and CEO of Zomaron. “This transaction also provides HDX and Zomaron with technology and revenue that could facilitate further growth through acquisition.”

“This is a timely and strategic decision for the Zomaron team,” says Joseph Jongsma, Vice President of Sales for Zomaron. “Combined with our existing payment solutions, being able to offer ATM’s, owning our payment switch, and providing integrated solutions will be excellent advantages for our team of more than one hundred and fifty sales agents. The size and scope of the HDX service network and the features and benefits of the HDX product line will enhance our sales efforts and give us an opportunity to better serve our customer base. The larger combined company provides the extra team resources required to develop advanced technology and the ability to service customers in a wide geographic area.”

The parties have agreed to negotiate a definitive agreement exclusively with each other and the transaction is expected to close on August 1st, 2013. The transaction is subject to a number of conditions including the parties reaching a definitive agreement and receiving all necessary regulatory approvals.

About HDX
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications.

Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services. Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Posera-HDX Ltd. develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 103 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera-HDX employs approximately 137 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

To find out more about Posera-HDX Ltd., visit our website at www.hdxsolutions.com and  www.maitredpos.com

To find out more about Zomaron please visit www.zomaron.com

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form filed on March 28th 2013 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from
those reflected in the forward-looking statements.

Posera-HDX Announces Financial Results for Fiscal 2012

TORONTO, March 28, 2013 /CNW/ – Posera-HDX Ltd. (TSX:HDX) (the Company) announced today its financial results for the three-months and year ending December 31st, 2012. HDX is listed on the TSX under the symbol “HDX”.

Paul Howell, Chief Executive Officer, reports:
In 2012 Posera-HDX focused heavily on further developing our software as a service (“SaaS”) products to increase our base of recurring revenue. Resources of time and capital were allocated to certification and build-out of our payment switch division, while merger and acquisition negotiations with prospective
organizations were carried on. Sales and service revenues for the three-months and year ending December 31, 2012 were $4,537,528 and $16,446,106 respectively. This represents a quarterly
decrease of 5.7% from $4,812,109 and an annual decrease of 7.1% from $17,699,771 for the quarter and year ending December 31, 2011.

Excluding one-time expenditures related to acquisitions in both 2011 and 2012 relating to the various acquisitions during 2011, an office move, legal expenses, US tax penalties and interest, out of period expenditures and the 2011 corporate reorganization, the Company achieved Normalized EBITDA (loss) profit for the yearended December 31, 2012 of $(525,935), compared to $1,206,023 for the year-ended December 31, 2011, a decrease of $1,731,958.

Excluding the one-time expenditures discussed above, the Company achieved Normalized EBITDA (loss) profit for the three-months ended December 31, 2012 of $(172,373), compared to $286,415 for the three-months ended December 31, 2011, a decrease of $458,788.

The Company continues to pursue acquisitions within the point of sale and payments industries although none are specifically named at this time.

Annual Financial Highlights
Normalized EBITDA (loss) profit for the year-ended December 31, 2012 was $(525,935), a decrease of $1,731,958 from $1,206,023 for the year- ended December 31, 2011;
Total revenue was $16,446,106 for the year-ended December 31, 2012, down $1,253,665 (7.1%) from $17,699,771 for the year-ended December 31, 2011;
Gross profit was $6,006,696 for the year-ended December 31, 2012, down $1,555,331 (20.6%) from $7,562,027 for the year-ended December 31, 2011;
Operating expenses were $11,007,678 for the year-ended December 31, 2012, up $2,996,581 (37.4%) from $8,011,097 for the year-ended December 31, 2011;
Operating expenses excluding the impairment of assets were $8,587,814 for the year-ended December 31, 2012, up $576,717 (7.2%) from $8,011,097 for the year-ended December 31, 2011; and
Net income (loss) for the year-ended December 31, 2012 was a loss of $(4,793,224), a decrease of $(6,279,120) from income of $1,485,896 for the year ended December 31, 2011. Included in net income (loss) was amortization of $1,458,753 for intangible assets and property plant and equipment, non-cash
stock-based compensation of $242,982 and the write down of intangible assets and goodwill of $2,248,885 and $170,979 respectively.

Non-GAAP Reporting Measures: Management reports on certain non-GAAP measures to evaluate performance of the Company. EBITDA is a measure commonly reported and widely used by investors as an indicator of a company’s operating performance and ability to incur and service debt, and as a valuation metric. While EBITDA has been disclosed herein to permit a more complete comparative analysis of the Company’s operating performance and debt servicing ability relative to other companies, investors are cautioned that EBITDA as reported by Posera-HDX may not be comparable in all instances to EBITDA as reported by other companies. For definitions of Non-GAAP measures, refer to the Company’s annual management discussion and analysis for the fourth quarter and fiscal 2012.

Additional information on HDX fourth quarter 2012 financial results will be available in the financial reports filed by the Company with Sedar at www.sedar.com and posted to the Investor Relations section of the Company’s website at www.dexit.com .

About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and “line buster” mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.

Posera-HDX Ltd. develops, deploys, and supports a restaurant point-of-sale software know as “Maitre’D” which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 103 value added reseller partners in 25 countries with approximately 600 representatives selling, supporting & installing its software. Posera-HDX employs approximately 137 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form to be filed on March 28th 2013 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements.

Canada’s Department of National Defence Chooses Posera-HDX for Hospitality Operations

TORONTO, Jan. 7, 2013 /CNW/ – Posera-HDX, a leading hospitality software provider, announced today that the Department of National Defence has selected the Maitre’D software solution, developed by Posera-HDX, as their standard POS system for hospitality operations across 26 national messes.

The POS Implementation Project, led by the Director General Personnel and Family Support Services (DGPFSS), was initiated by the need standardize processes, equipment, support, and customer service.
In an official communication, Commodore Mark B. Watson, MRC, of the DGPFSS indicates: “The overall objective is to provide an excellent tool to manage bar operations and inventories. After consultation with the field, DGPFSS staff conducted intensive research, trials and evaluation to choose a system that would best fit with hospitality operations. DGPFSS is pleased to announce that Maitre’D by Posera-HDX will be the standard hospitality POS across the Canadian Forces.”

We are excited to perform this hospitality technology deployment for the Department of National Defence, launching our strategic partnership,” declared Jean Guimond, Vice President of Sales at Posera HDX Limited. “Working with DGPFSS and its 26 national messes for this large rollout of the Maitre’D Solution, with a strong focus on functionalities, promises to bring tremendous value to Department of National Defence and its officers and soldiers of all ranks, and we look forward to a long and enduring partnership.”

About Posera-HDX
Posera-HDX is a leading hospitality software provider that operates offices in Toronto, Seattle, Montreal, Paris and Glasgow, and has a reseller network that covers North America, Europe, the Middle East, Singapore, and Australia. The Maitre’D software suite offers seamlessly integrated solutions that provide
restaurant managers with the tools that they need to streamline their operations and increase profitability. These solutions are designed to meet any concept’s specific needs, with customizable POS, Back-Office, and Corporate solutions.

Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.

Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Annual Information Form of Posera – HDX Inc. filed on March 29th, 2012 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.