Participated · Equity · Dec 2018

Xineoh Technologies Inc. is a Vancouver, British Columbia company developing and commercializing an AI platform. On December 23, 2022 the company closed a non-brokered private placement equity financing for aggregate gross proceeds of US$350,249.97 by issuing 23,349,998 common shares at US$0.015 per share. The company intends to use net proceeds to continue to develop and commercialize its AI platform; all securities issued are subject to a statutory four-month hold expiring April 24, 2023. The release notes the securities were not registered for sale in the United States and the company is not listed on a stock exchange. The filing also disclosed a Wind-Up Transaction in which Kelcey Mauritius Limited disposed of 67,500,000 common shares at a deemed price of Cdn$0.00685 (US$0.005) and Cicero Family Trust acquired 51,840,000 common shares. As a result, CEO Vian Chinner, a beneficiary of Cicero Family Trust, beneficially owns 51,840,000 common shares through the trust, directly owns 266,666 common shares, and holds restricted share units to acquire 3,333,333 common shares; if those RSUs are exercised he would beneficially own 55,173,333 shares (40.55%). Xineoh Technologies offers an AI platform for predicting consumer behavior that can be implemented quickly and with minimal complexity. The platform matches people with products, inventory with opportunities, prices with spending propensity and people with usage patterns, and Xineoh reports test results that outperform competitors across several sectors. The company says its offering is well received by large multinational customers and has a strong sales pipeline, with several customers running paid proofs of concept. Xineoh intends to use recent financing proceeds to continue developing and commercializing its market-leading AI platform. Founded in 2014 and based in Vancouver, British Columbia, the company reported aggregate gross proceeds of US$1.518 million including the most recent closing. Securities from the most recent placement are subject to a four-month hold period expiring June 12, 2019. Xineoh has developed a platform that uses AI to predict consumer behavior, enabling clients to match people with products, align inventory to opportunities, set prices by spending propensity, and match usage patterns. The company says its AI has been proven across several sectors and significantly outperforms competitors in tests. Xineoh reports a strong sales pipeline with several multinational customers conducting paid proofs of concept. The firm intends to use recent financing proceeds to continue developing and commercializing its platform. Xineoh was founded in 2014 and is part of the King & Bay group of companies, which supports its growth in technology and related sectors. The company is based in Vancouver, British Columbia. Xineoh builds algorithms that predict purchasing and streaming choices to connect the right buyer to the right producer; its technology has generated in excess of $30 million in revenue for clients. The company claims a current algorithm prediction rate of about 14.5%, versus competitors’ 3–8%, and says a prior version reduced cost-per-lead by 60–80% for a leading real-estate portal. Xineoh’s product roadmap includes VideoLlama, a personal shopping assistant for video streaming that uses future-behavior predictions and a Tinder-like swipe interface; the first public release was imminent at the time of reporting and initial rollout is planned for the U.S. The startup plans to expand into other sectors, with a near-term focus on property portals to improve conversion and lead quality. Xineoh was founded in 2014, maintains its main operation in Bloemfontein, and has a U.S. partner that opened an office in Portland; it employs 14 full-time staff, eight of whom are developers.