Trustbix to change focus to licensing technology

Executive Summary

• Trustbix Inc. is transitioning from its legacy Auction Master Pro (AMP) software to a new “Gate‑to‑Plate” (G2P) platform focused on livestock auction markets and indoor farm management.
• The company has assigned all AMP support contracts to IT Group, ending direct installation and support services for AMP.
• While AMP‑related revenue (~ $1.1 M annually) will be removed, Trustbix expects to offset the loss with > $5 M of indoor‑farming purchase orders previously announced.

Key Details

• Development of a modern livestock auction market software solution integrated with the recently acquired indoor farm management system (acquired from Mindsgate Ltd., pending TSX Venture Exchange approval).
• New platform named Trustbix Gate to Plate (G2P), slated for launch in early 2026 to serve the spring season.
• Strategic shift away from direct software installation and support toward licensing technology through strategic partners, targeting SaaS revenue growth.
• Assignment agreement dated Oct 10 2025: AMP support contracts transferred to Cristel Baber DBA IT Group via Trustbix’s subsidiary ViewTrak Technologies Inc.
• Existing customers with active annual support retain services at no extra cost for the remainder of their term.
• IT Group may offer support to non‑contract customers under its own agreements.
• AMP generated approximately $1.1 million in recurring and one‑time revenue in fiscal years ended Sept 30 2025 (unaudited) and 2024.
• Anticipated offset: > $5 million of purchase orders/contracts for indoor farming technology announced on April 14 2024 and Sept 12 2024, with revenue recognized upon product delivery.
• Transfer subject to TSX Venture Exchange approval, customary closing conditions, and third‑party consents.

Notable Quotes

(No direct quotes provided in the release.)