MEMEX Inc (TSXV: OEE) has developed an award winning IIoT technology platform called MERLIN, it delivers tangible increases in manufacturing productivity in Real-Time. The Company is committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the accelerating adoption and success of MERLIN.
MEMEX envisions converting every machine into a node on the corporate network, thereby, creating visibility from shop-floor-to-top-floor. With the Company’s commitment towards machine connectivity, MEMEX offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.
MEMEX recently exhibited MERLIN, at the invitation of Cisco Systems Inc. as part of their Connected Machines Strategy at Cisco Live in Las Vegas from July 10-14. MERLIN was on display in the World of Solutions pavilion, located in the Mandalay Bay Convention Center.
MERLIN captured and presented live data from both onsite and remotely connected machines securely over the Internet via Cisco’s newly released IE4K switch. The IE4K is compliant with MTConnect, which collectively form an integral part of any manufacturing company’s Industrial Internet of Things (IIoT) strategy. This enables the promise of Data Driven Manufacturing centric business outcomes.
Although MEMEX had more than $3.0 million in current assets including more than $2.2 million in cash and $2.1 million in working capital by the end of Q2, the Company’s 53.4% gross margin for the quarter, was down 3.3% from the same quarter a year ago and 7.7% from Q1-2016. A higher hardware to software sales mix in the current quarter accounts for the decline.
Shares of MEMEX traded above average volume of over 600,000 and closed flat at $0.14 with a 52 week high of $0.26.