Universal mCloud's Q3 2018 Update

An experienced leader in the business sector, Russ McMeekin serves as CEO of Universal mCloud, a cloud technology company that deploys AI technology to help improve the efficient use of energy assets. Recently, Russ McMeekin briefed investors and the public on the company’s performance at the end of Q3 2018. 

Universal mCloud's recent growth trends continued during the third quarter, as the company was able to secure new customers as well as broaden its offerings to current clients. Q3 also marked the final deployment of AssetCare, its algorithm-centric technology that monitors energy assets to make sure they are working efficiently to reduce costs. The company also secured deals to enter the competitive but potentially lucrative Chinese market, and has also begun taking steps to be listed on the NASDAQ exchange.

Q3 revenues topped $3.5 million, an increase from the $3.1 million earned in the second quarter and the $2.4 million generated in the first quarter of the year. The company’s margins also increased by 4 percent in the third quarter, reaching 68 percent.

Universal mCloud Acquires Ascent AeroSystems

For more than two years, Russ McMeekin has served as CEO of Universal mCloud, a company he founded as a cloud platform aimed at leveraging artificial intelligence to bolster energy asset performance. In this role, Russ McMeekin oversees all of the company’s major operations, including mergers and acquisitions.

In September 2018, Universal mCloud signed a letter of intent (LOI) that will see the company acquire Ascent AeroSystems. Through it’s unmanned aerial vehicle (UAV) services, mCloud will now have the ability to deploy its patented AssetCare cloud-based energy management platform to wind turbines, hard to reach HVAC infrastructure, and other energy assets that are in remote or difficult to access places. 

The value of the acquisition is rated at upwards of $6.55 million, which includes $4.8 million in shares, $500,000 in cash at closing, and potentially another $1 million in shares and $250,000 in cash later based on performance. In his comments, mCloud CEO Russ McMeekin says that the acquisition will help his company gain valuable AI data from remote and inaccessible assets, which in turn will enable improvements in their management.

Universal mCloud Reports Strong Q2 Results for 2018

Russ McMeekin, a graduate of Sault College of Applied Arts and Technology and Stanford University, has led operations at Universal mCloud Corp. in San Francisco, California, as chief executive officer since 2016. Under the direction of Russ McMeekin, Universal mCloud has enjoyed considerable growth.

This past summer, the company reported a number of strong second-quarter results. Speaking to Proactive Investors in Vancouver, Canada, Mr. McMeekin and chief accounting officer Darren Anderson highlighted a 26 percent increase in consolidated revenues, from $2.4 million in Q1 2018 to $3 million in Q2. The organization also continued to enjoy healthy gross margins of 64 percent, thanks largely to a strategic model that emphasizes the acquisition of innovative, high-margin companies in the technology sector.

Following the success of Q2, the Universal mCloud team is strongly committed to continued growth, particularly in international markets. In past years, the company has expanded throughout the United States and into Canada; more recently, the international focus has transitioned to China and other Asian markets.

Universal mCloud Begins the Process of Nasdaq Co-Listing

Based in Vancouver, British Columbia, Russ McMeekin leads Universal mCloud Corp. as CEO and provides the organic and acquisition growth-focused company with strategic direction. Having completed its last oversubscribed private placement tranche, Russ McMeekin’s company recently generated $4.5 million in fresh capital for working capital and new acquisitions . 

Universal mCloud subsequently initiated a process designed to lead to its stocks being co-listed on the NASDAQ Capital Market. With this process having commenced, it is expected to continue through early 2019. The aim is to provide future and existing shareholders with expanded portfolio access to the Nasdaq stock platform. 

In order to facilitate the co-listing process, the Universal mCloud board has created a special committee that will pair experienced capital markets professionals with company management and outside advisers. The complex process of co-listing involves multi-jurisdictional regulations spanning the Securities Exchange Commission/Nasdaq with the Toronto Stock Exchange. In order to complete the process, Universal mCloud must transform a number of internal processes, as well as the governance structure.

Universal mCloud Enjoys Strong Q2 Results

Russ McMeekin joined Universal mCloud, Corp. in 2016 and continues to manage activities at the IoT and AI operation as chief executive officer. Russ McMeekin, alongside Universal chief accounting officer Darren Anderson, recently spoke to Proactive Investors about the company’s strong Q2 2018 results.

Over the period, Universal mCloud’s (CVE:MCLD) consolidated revenue increased from $2.4 million to $3 million for a rise of 26 percent over the previous quarter. Gross margins, a strong point for the company due to Universal’s strategic approach to acquiring high margin innovative tech companies, held steady at 64 percent. Universal continues to demonstrate top line growth as the business moves towards profitability, though arguably the best news for the quarter involved the diversity of growth Universal saw across numerous technology types resulting from both strategic acquisitions and organic, in-house development. The company experienced similar success in terms of geographic diversification, with sales moving from the state of California throughout the United States and Canada, as well as certain Asian markets.

Notable customers for Universal have included some of the largest banking institutions in the US and Canada, including Bank of America. To learn more about IoT offerings from Universal mCloud, please visit the company online at www.mcloudcorp.com.

Universal mCloud Acquires Ascent Aerosystems

Since 2016, Russ McMeekin has served as CEO of San Francisco-based Universal mCloud Corp., a technology company that specializes in organic growth and acquisition-based strategies in the energy assets sector. As part of his work, Russ McMeekin oversees all of the company’s M&A activity, including the recent acquisition of Ascent AeroSystems.

Universal mCloud announced the acquisition in late September 2018, which will allow the company to leverage its proprietary AssetCare remote cloud control technology in an entirely new catalog of assets, including HVAC systems, wind turbines, and transformers for electrical transport systems. Assisted by artificial intelligence, Universal mCloud will be able to monitor the performance and overall condition of these assets in real-time, which will make possible more effective maintenance schedules and avoid lengthy downtime periods.

In his comments, Universal mCloud CEO Russ McMeekin said the addition of Ascent to the company’s portfolio will increase its ability to provide cloud monitoring and maintenance solutions to energy assets in hard-to-reach areas. He also said Ascent’s technology will work hand in hand with damage-assessment provider NGRAIN solutions, another recent Universal mCloud acquisition.

The Launch of an Annual mCloud Connect Conference

Russ McMeekin is a well established presence in the technology sphere who heads San Francisco-based Universal mCloud Corp as chief executive officer. In early September, Russ McMeekin’s firm announced the launch of an annual conference designed to bring together Internet of Things (IoT) and artificial intelligence (AI) thought leaders.

The mCloud Connect 2018 conference in Las Vegas was described as providing a distinct service to dozens of industry partners and customers in highlighting recent technology advancements that are driving its core value proposition, the AssetCare platform.

The new conference also reflects mCloud’s impressive organic and acquisition-driven growth, with its cloud-based solutions designed to ensure that measurable improvements are made in the performance of corporate assets such as HVAC units. New technologies acquired have bolstered the multifaceted approach mCloud provides in ensuring that equipment performance is optimized in ways that lower costs and improve overall operations. The keynote speaker arranged for the conference, John Picard, is a well known visionary who has successfully leveraged technology to boost environmental sustainability and efficiency.