NextGen Digital Publishes First Quarter Financial Results

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FREDERICTON, New Brunswick, August 16, 2024 (GLOBE NEWSWIRE) – NextGen Digital Platforms Inc. Management’s Statement and Discussion & Analysis for the three months ending June 30, 2024 (“Q1 2025”), which is available on the Company’s SEDAR+ profile page at www.sedarplus.ca.

Joel Freudman, Founder, President & CEO of NextGen, stated, “Q1 2025 marks NextGen’s first set of financial statements to be reported as a public company, and I am pleased that we are maintaining a healthy working capital position while continuing to generate revenue from both of our business lines. , is PCSections.com and hardware-as-a-service business ‘Cloud AI Hosting’.

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Added Heran (Kevin) Zhou, NextGen Platform & Marketing Director: “In the coming months, we will expand our fleet of GPU workstations to expand our Cloud AI Hosting business, which we believe has exciting growth potential. This will allow us to build on our current capabilities and support long-term operational goals.

Among other results, NextGen reported Q1 2025 revenue of $823 and a net loss of ($38,218), and as of June 30, 2024 the Company had cash and cash equivalents of $349,368.

About NextGen Digital Platforms Inc.
NextGen is a Canadian technology company specializing in the development and acquisition of revenue-generating micro-technology digital platforms. The Company currently operates an e-commerce platform PCSections.com (“PCS”) and a hardware-as-a-service business supporting the artificial intelligence sector, called cloud AI hosting (“Cloud AI Hosting”). PCS and Cloud AI Hosting are developed in-house by NextGen. From time to time the Company also intends to evaluate and acquire or develop other micro-technology platforms.

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NextGen is a portfolio company of Resurgent Capital Corp. Resurgent works with promising public and pre-public micro-capitalization companies on the Canadian stock exchange. For more information about Resurgent and its portfolio companies, visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.

For more information about NextGen, contact:

Joel Freudman
Founder, President & CEO
NextGen Digital Platforms Inc. Stock price history
Phone: (647) 368-7789
Email: info@nextgendigital.ca
Website: https://nextgendigital.ca/

Cautionary Statements Regarding Forward-Looking Information

Neither the Canadian Securities Exchange nor its regulatory service provider (as those terms are defined in Canadian Securities Exchange policy) accepts responsibility for the adequacy or accuracy of this release.

This press release contains certain forward-looking statements, including those related to the Company’s operational plans and goals for Cloud AI Hosting. These statements are based on a number of assumptions about the Company’s business plans and technology development forecasts that management believes are reasonable under the circumstances, and are subject to a number of risks and uncertainties, including without limitation the risk that the Company will not experience. able to raise sufficient funds to carry out the business plan; technological and business risks inherent in artificial intelligence, e-commerce, and other emerging sectors in which the Company participates or may participate; volatility in financial markets and economic conditions. Actual results could differ materially from the results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.

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