In a news release, Datable Technology Corp. (DAC:TSX.V; TTMZF:USOTC) announced that it initiated policies to minimize any COVID-19 risk to its customers, employees, service providers and industry partners.
Whereas the coronavirus has not affected the company's existing and prospective license agreements and potential agreement expansions, Datable continues to monitor the situation and work with customers and service providers to deal with any problems that may arise.
The three changes already in the works are:
1) Datable is expanding options to facilitate shopping from home. This is because many of its customers offer rewards and loyalty programs for in-store and online buying, and more people now will likely be buying goods online from home.
2) The company's sales and project management teams will nearly exclusively use online video conferencing for presentations.
3) Any Datable employees, contractors or consultants with symptoms or exposure to someone with symptoms must work from home until they are cleared for contact with others.
Datable noted that the company ended February 2020 "with approximately $2.1 million of baseline contracted licenses for PLATFORM³, with a gross margin of about 70%. Baseline contracted licenses do not include transaction fees, which generate additional revenues in many of Datable's agreements. Approximately 64% of the baseline contracted licenses are expected to be recognized as revenue in 2020 with the balance recognized in future periods."
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