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SAN FRANCISCO, CA--(Marketwired - Oct 25, 2016) - The lead architect of both a comprehensive report that demystifies online threats for the general public and an important Canadian law that has appreciably reduced spam has received the M3AAWG 2016 JD Falk Award for his contributions to a safer online world. André Leduc was recognized for spearheading the global Operation Safety-Net best practices report and for his role in developing the Canadian Anti-spam Legislation that requires marketers to obtain users' permission before sending commercial email. The award was announced Oct. 25 during the four-day M3AAWG 38th General Meeting in Paris. The Messaging, Malware and Mobile Anti-Abuse Working group presents the award annually to recognize an "unsung hero" working behind the scenes to protect the internet and end-users. "Both of these accomplishments have been widely embraced by the anti-abuse community as valuable tools in fighting spam and other cybercrime. Operation Safety-Net makes cybersecurity accessible to mainstream, non-technical users by cutting through the complicated techno-jargon about keeping our devices safe, and the anti-spam law known as CASL has dramatically reduced junk mail in Canada and beyond. Neither of these projects would have come to fruition without Andre's meticulous attention to detail, his dedicated effort that went well beyond expectations, and his persistent leadership," said Michael Adkins, M3AAWG Chairman of the Board. Leduc is the acting director of business, intelligence and analysis, and digital security policy, at the Canadian Department of Innovation, Science and Economic Development. He also served as a voluntary secretariat co-lead for the London Action Plan/Unsolicited Communications Enforcement Network and facilitated the cooperative work between M3AAWG and LAP/UCENet that resulted in the jointly published report. A video with Leduc explaining the motivation behind these two projects is available on the M3AAWG YouTube channel at www.youtube.com/maawg. Operation Safety Net for Business, Government and End-Users Operation Safety Net -- Best Practices to Address Online, Mobile, and Telephony Threats is a 76-page report written by security experts from around the world that describes current cyber issues facing business, government and end-users with the proven techniques to protect against them. Leduc spearheaded the project, which was originally requested by the Organisation for Economic Co-operation and Development, and compiled the submitted material into a coherent report. Leduc said, "Translating our technical and engineering way of talking into plain language was probably the most important part of this work. We wanted to create a report that a security officer or an engineer could give to colleagues and management to help them understand cyber attacks and why their organizations might be targeted. We also wanted to make it easy for government policy makers in both the developed and developing countries, where they may not have much technical experience, to take action." The original report was published in 2012 then updated in 2015. The latest version covers malware and botnets; phishing and social engineering; internet protocol and domain name system (DNS) exploits; and mobile, voice over IP (VOIP) and telephony threats. Originally published in English, it has been translated into French and Spanish, reaching much of the world's population. The report is available in these languages at www.m3aawg.org under Best Practices. CASL Effective Beyond Canada Leduc also was the lead architect developing the policy and legal frameworks for the Canadian Anti-spam Legislation that set a new standard for sending marketing messages when it went into effect in 2014. The law applies to commercial or promotional information sent through email, SMS, instant messaging or social media. It also covers software installations and mobile apps. CASL requires marketers to obtain a user's permission to receive a commercial message before it is sent, a process known as "opt-in" that is more effective in fighting abuse and spam. For example, under the law, users need to voluntarily sign up for a mailing list or have an existing business relationship with an organization before marketers can send them related emails. Since CASL applies to all messages sent to users in Canada, including those originating from other countries, it has encouraged the voluntary adoption of opt-in practices internationally. "The volume of spam on Canadian networks has decreased by more than a third since CASL went into effect. We have also seen a high level of compliance from senders in the countries to our south, throughout Europe, and even in Asia. Many international senders are now getting consent prior to sending commercial electronic messages to our users," Leduc said. Leduc began work on establishing the concepts and language for CASL in 2009. He has specialized in cybersecurity since 2004 when he led OECD ecommerce business working groups and then became part of an expert subgroup on high-tech crimes in 2004. He has represented Industry Canada (now Innovation Science and Economic Development Canada) at the OECD, the G7 and G8 summits, and the Wassenaar Arrangement. The M3AAWG 38th General Meeting is the organization's annual European meeting and has brought together more than 350 security experts from 30 countries. The working meeting features more than 50 sessions with network operators, social networking companies, hosting and cloud services providers, email service providers, academic researchers and public policy advisors sharing information on the latest cyber threats. The next meeting will be February 20-23, 2017 in San Francisco. About the Messaging, Malware and Mobile Anti-Abuse Working Group (M3AAWG) The Messaging, Malware and Mobile Anti-Abuse Working Group (M3AAWG) is where the industry comes together to work against bots, malware, spam, viruses, denial-of-service attacks and other online exploitation. M3AAWG (www.M3AAWG.org) members represent more than one billion mailboxes from some of the largest network operators worldwide. It leverages the depth and experience of its global membership to tackle abuse on existing networks and new emerging services through technology, collaboration and public policy. It also works to educate global policy makers on the technical and operational issues related to online abuse and messaging. Headquartered in San Francisco, Calif., M3AAWG is driven by market needs and supported by major network operators and messaging providers. M3AAWG Board of Directors: AT&T traded on NYSE with symbol T; CenturyLink traded on NYSE with symbol CTL; Cloudmark, Inc.; Comcast traded on NASDAQ with symbol CMCSA; Facebook; Google; LinkedIn; Message Systems; Mailchimp; Microsoft Corp.; Orange traded on NYSE with symbol Euronext ORA; Return Path; SendGrid, Inc.; Charter Communications; Vade Secure; and Yahoo! Inc. M3AAWG Full Members: 1&1 Internet AG; Adobe Systems Inc.; Agora, Inc.; AOL; Campaign Monitor Pty.; Cisco Systems, Inc.; CloudFlare; Dyn; Exact Target, Inc.; IBM, iContact; Internet Initiative Japan traded on NASDAQ with symbols IIJ and IIJI; Liberty Global; Listrak; Litmus; MAPP; McAfee Inc.; Mimecast; Nominum, Inc.; Oracle Marketing Cloud; OVH; PayPal; Proofpoint; Rackspace; Spamhaus; Sprint; and Symantec. A complete member list is available at https://www.m3aawg.org/about/roster.


News Article | May 6, 2017
Site: www.prweb.com

Abraham Lincoln believed that “you can tell the greatness of a man by what makes him angry.” By extension, you can also learn much about a person based on what they value. Someone who prioritizes money above all else, for example, may find that their relationships fall by the wayside. Those who value power may find themselves spending most of their time obsessing about keeping that power. Research from Queendom.com and PsychTests.com also indicates that what an employee values could have a significant impact on how he or she performs. Analyzing data from 1088 people who took their Values Profile, researchers at PsychTests focused their analysis on two seemingly distinct groups: Top performers and poor performers. Interestingly, while the two groups shared 9 of their top 10 values, the top-performing group scored significantly higher, indicating that they place a much higher priority on living by those values, rather than simply paying lip service. The top 10 values are as follows: Those who value hard work put a great deal of effort into everything they do, and may often go above and beyond the call of duty. They don’t shy away from demanding tasks or workloads. Employees who value empathy recognize the importance of showing compassion to those in need, and adopting a cooperative attitude. They strive to be open to and to understand other people’s perspective. Those who value acceptance enjoy being a part of a team. They like the idea of working with others toward a common cause. Employees with this value treasure their relationships, and derive a great deal of joy from being surrounded by those they care about. They work hard to maintain and improve their relationships with others. Employees who value altruism show both a concern for the needs and lives of others and a desire to extend their assistance. They consider it essential to create an atmosphere (and a world) that is based on mutual respect, harmony, and giving rather than receiving. Individuals who value stability thrive on structure and planning ahead. They seek job stability and financial security, and are unlikely to take reckless risks with their money or their future. Employees with this value consider it essential to live their life according to a set of principles. They follow their conscience, even if they find themselves in situations where they could easily get away with a dishonest act. Those who are an advocate for innovation believe it is important for the world to continue to progress and advance new theories, ideas, and inventions. They don’t necessarily believe in change for the sake of change, but recognize that sticking to the status quo isn’t always prudent or efficient. Employees with this value are either highly involved in their community or seek out jobs/companies where they can give back in some way. Individuals with community values may be more likely to speak out against injustice and/or be the first to come to the aid of victims of a tragedy. 10) CAREER ADVANCEMENT vs. APPRECIATION OF BEAUTY The final value is where top performers and poor performers differed. While the former group placed a great deal of value on their career (advancing in their company or field; accomplishing something they can be proud of) the latter group considered an “appreciation of beauty” more important. SUMMARY Although top performers and poor performers have similar values, top-performing employees seem to care about them more. So how does that translate into performance? “The more you value something, the greater the lengths you will go to protect that value,” explains Dr. Jerabek, president of PsychTests, the parent company of Queendom. “The fact that top performers score higher on their values indicates three things: 1) They are more likely to make decisions based on their values, 2) they are more likely to act in accordance with their values, and 3) they are more likely to stand by their values. That means that the person who values stability will work hard to keep their job, and to earn their place in a company. The person who values ethics and morals will respect rules. The person who recognizes the value of hard work will put in a great deal of effort to get a job done well. This is why it’s important to hire someone who not only has values that are compatible with those of the organization, but who is also willing to adhere to them. A person who forsakes their values too easily isn’t likely to adopt your company’s values either, let alone follow them. You want someone who stands by their convictions, even under pressure.” What do you value? Go to http://testyourself.psychtests.com/testid/3620 Professional users of this test can see a sample of the Values Profile report: VaPRO – R4 (Value Profile – 4th Revision) Request a free demo of this test and any other assessments from ARCH Profile’s extensive battery: http://hrtests.archprofile.com/testdrive_gen_1 To learn more about psychological testing, download this free eBook: Spotting Diamonds in the Rough. (http://hrtests.archprofile.com/personality-tests-in-hr) About Queendom.com Queendom.com is a subsidiary of PsychTests AIM Inc. Queendom.com is a site that creates an interactive venue for self-exploration with a healthy dose of fun. The site offers a full range of professional-quality, scientifically validated psychological assessments that empower people to grow and reach their real potential through insightful feedback and detailed, custom-tailored analysis. About PsychTests AIM Inc. PsychTests AIM Inc. originally appeared on the internet scene in 1996. Since its inception, it has become a pre-eminent provider of psychological assessment products and services to human resource personnel, therapists, academics, researchers and a host of other professionals around the world. PsychTests AIM Inc. staff is comprised of a dedicated team of psychologists, test developers, researchers, statisticians, writers, and artificial intelligence experts (see ARCHProfile.com). The company’s research division, Plumeus Inc., is supported in part by Research and Development Tax Credit awarded by Industry Canada.


CALGARY, AB--(Marketwired - December 08, 2016) - A collaborative research project titled 'GENICE' that partners the University of Calgary and the University of Manitoba has been awarded $10.7 million as part of the Genome Canada 2015 Large-Scale Applied Research Project Competition (LSARP). Announced today in Montreal by Minister of Science Kirsty Duncan, the research teams will be led by the University of Calgary's Casey Hubert, associate professor in the Faculty of Science and Campus Alberta Innovation Program Chair in Geomicrobiology, and University of Manitoba's Research Professor Gary Stern, Centre for Earth Observation Science. They will combine their expertise in the areas of genomics, microbiology, petroleomics and sea-ice physics to investigate the potential for natural microbial communities to mitigate oil spills, as warmer temperatures and melting sea ice usher in increasing shipping throughout Arctic waters. "Bioremediation in the cold Arctic and in the presence of sea ice remains poorly understood," Hubert says. "By developing a better understanding of how Arctic microbes will be mobilized in the event of a spill, we can better model and map what will happen and what our response should be, should an accidental spill ever occur," says Hubert. With northern shipping increasing by 166 per cent since 2004, and cruise ships and tourism increasing by 500 per cent in the past five years, the pressures on the Northwest Passage have never been greater. The Passage represents a sea route connecting the northern Atlantic and Pacific Oceans through the Arctic Ocean, along the northern coast of North America via waterways through the Canadian Arctic Archipelago, which has never been busier. "The expertise that Manitoba brings to the table are in the areas of petroleomics and sea ice physics as well as our new facility [under construction in Churchill, Manitoba] that will allow us to study oil degradation processes under controlled Arctic conditions," says Stern. The soon-to-be-completed Churchill Marine Observatory (CMO) is a globally unique, highly innovative, multidisciplinary research facility located in Churchill, Manitoba, adjacent to Canada's only Arctic deep-water port. The CMO will directly support the technological, scientific, and ethical, environmental, economic, legal and social research that is needed to safely guide (through policy development) the unprecedented Arctic marine transportation and oil and gas exploration and development throughout the Arctic. The University of Calgary is partnering closely with the University of Manitoba on this CFI-sponsored initiative, which is being built at the perfect time to support the new Genome Canada project. "The idea is that we will be able to emulate different thermodynamic states of the sea-ice and how, under these conditions, different crude and fuel oils will interact with native microbial populations in a controlled environment," Stern adds. The 2015 LSARP competition aims to support applied research projects focused on using genomic approaches to address challenges and opportunities of importance to Canada's natural resources and environment sectors, including interactions between natural resources and the environment, thereby contributing to the Canadian bioeconomy and the well-being of Canadians. "Climate change may present the opportunity for year-round shipping traffic along Canada's Arctic coast. The work of the GENICE team on genomics-based bioremediation will help Canadian companies and agencies be better prepared to mitigate the environmental impact of expanding industrial activities in the Arctic." Reno Pontarollo, President & CEO, Genome Prairie notes. "Casey Hubert and Gary Stern are working to address the growing pressures on Arctic marine environments, while also offering insights into protecting other coastal areas in Canada," notes John Reynolds, acting vice-president (research) at the University of Calgary. "We thank Genome Canada and their subsidiaries, as well as the wide range of partners who have come together to support this project." The project will be managed by Genome Alberta in conjunction with Genome Prairie and with an international collaboration of funding partners that have shown the desire to protect the complex Arctic environment: Genome Canada, Alberta Economic Development and Trade, University of Manitoba, Natural Resources Canada, Arctic Institute of North America, Arctic Research Foundation, Stantec Consulting Ltd., National Research Council of Canada, Research Manitoba, University of Calgary Petroleum Reservoir Group, University of Newcastle Upon Tyne, Georgia Institute of Technology, Churchill Northern Studies Centre, Amundsen Science Inc., Environment and Climate Change Canada, Genome Quebec, Aphorist, and Aarhus University. About the University of Calgary The University of Calgary is making tremendous progress on its journey to become one of Canada's top five research universities, where research and innovative teaching go hand in hand, and where we fully engage the communities we both serve and lead. This strategy is called Eyes High, inspired by the university's Gaelic motto, which translates as 'I will lift up my eyes.' For more information, visit ucalgary.ca. Stay up to date with University of Calgary news headlines on Twitter @UCalgary. For details on faculties and how to reach experts go to our media center at ucalgary.ca/mediacentre About the University of Manitoba For nearly 140 years, the University of Manitoba has been recognized as Manitoba's premier university - shaping our leaders, enhancing our community, and conducting world-class research. Our home is Manitoba but our impact is global. The university has a tradition of excellence in research, scholarly work and creative activities. Our connection to the agricultural and natural landscapes of the Canadian Prairie, to the Arctic, to local and Indigenous communities, has shaped our research focus. We have made pioneering contributions in many fields and developed life-changing solutions to problems faced by peoples in Manitoba, Canada and the world. About Genome Alberta Genome Alberta is a publicly funded not-for-profit genomics research funding organization based in Calgary, Alberta but leads projects at institutions around the province and participates in a variety of other projects across the country. In partnership with Genome Canada, Industry Canada, and the Province of Alberta, Genome Alberta was established in 2005 to focus on genomics as one of the central components of the Life Sciences Initiative in Alberta, and to help position genomics as a core research effort. For more information on the range of projects led and managed by Genome Alberta, visit http://GenomeAlberta.ca


CALGARY, AB --(Marketwired - December 08, 2016) - A collaborative research project involving four universities in Alberta and Atlantic Canada has received major funding to address the issue of pipeline corrosion caused by microbial activity. The federal government announcement was made today by Minister of Science, Kirsty Duncan in Montreal. The $7.8 m comes through the Genome Canada 2015 Large-Scale Applied Research Project Competition (LSARP). It will support Managing Microbial Corrosion in Canadian Offshore and Onshore Oil Production, a four-year research project set to begin in January with an aim to improve pipeline integrity. "This work will definitely help to pinpoint how microbial activity causes corrosion in carbon steel infrastructure and help in its early detection so we can minimize leaks," says Lisa Gieg, an associate professor in the Department of Biological Sciences at the University of Calgary. "It's not just about pipelines, this research will look at all points of contact between oil and steel in extraction, production and processing. This work can help make the industry safer." Gieg is one of three project leaders who include John Wolodko, an associate professor and Alberta Innovates Strategic Chair in Bio and Industrial Materials at the University of Alberta; and Faisal Khan, a professor and the Vale Research Chair of Process Safety and Risk Engineering at Memorial University in St. John's, NL. Also working on the project is Rob Beiko, an associate professor in computer science and Canada Research Chair in Bioinformatics at Dalhousie University in Halifax, N.S., and Dr. Tesfaalem Haile who is a senior corrosion specialist at InnoTech Alberta in Devon, AB. Beiko will be building a database to analyse the microbiology and chemistry lab results, while Haile's team will be working with the University of Alberta to simulate microbial corrosion in the lab and at the pilot-scale. "To some degree, [microbial degradation of pipelines] is akin to a cancer diagnosis and treatment in the medical field," says Wolodko. "While there is significant knowledge and best practices in diagnosing and treating cancer, it is still not completely understood, and significant research is still required to further eliminate its impact to society. "While this problem is complex, this pan-Canadian project brings together research groups from across Canada in different science disciplines to tackle this problem collectively. By bringing this multidisciplinary focus to this problem, it is hoped that this research will lead to a better understanding of the breadth of microbes responsible for microbial corrosion, and will help academia and industry develop improved solutions to rapidly identify and mitigate this form of corrosion globally." While researchers at Memorial University are involved in all stages of the project, Faisal Khan, Head, Department of Process Engineering, and Director, C-RISE, Memorial University, says the focus for Memorial is on how microbes cause corrosion. Khan leads Memorial's multidisciplinary team, which also includes Kelly Hawboldt, Department of Process Engineering, Faculty of Engineering and Applied Science; and Christina Bottaro, Department of Chemistry, Faculty of Science. "We know that microbes cause corrosion, but we are examining how they cause corrosion," said Khan. "We are identifying the chemical source and how it reacts to the surface of the metal to cause corrosion. The risk models that we're developing will link the corrosion process to the outcome. This will be very important for industry when evaluating their level of corrosion intervention and control, and where to focus their resources on corrosion mitigation." Corrosion of steel infrastructure is estimated to cost the oil and gas industry in the range of $3 billion to $7 billion each year in maintenance, repairs and replacement. Microbiologically influenced corrosion is responsible for at least 20 per cent of that cost. The research team will take samples from a wide range of environments including offshore platforms and both upstream pipelines and transmission pipelines, which are all associated with different fluid chemistries and physical characteristics. By using the latest in genomics techniques, the interdisciplinary team will be able to look for trends related to specific microbes and chemistries that lead to microbial corrosion. Ultimately, the project will lead to better predictions of whether microbial corrosion will occur in a given oil and gas operation. All three project leads say the key to success in this project is collaboration. Bringing the experience, skills and expertise from across a range of disciplines and from multiple universities provides the best opportunity to succeed in finding solutions to ensure the safety of pipelines and other oil and gas infrastructure. "Genome Alberta and Genome Atlantic are pleased to be supporting a major study that will develop technologies to proactively detect and pinpoint microbial corrosion in both offshore and onshore oil production," notes David Bailey, President and CEO, Genome Alberta. "These researchers will apply their combined expertise to help address the protection of our natural environment, as well as our growing energy needs," says John Reynolds, acting vice-president (research) at the University of Calgary. "We look forward to working with our research partners and funders who have joined together to support this important work through this Genome Canada award." This grant was one of 13 projects that received funding in an announcement made by the federal government Thursday. Combined with co-funding from the provinces, international organizations and the private sector, the total announcement is worth $110 million. This includes a second project involving a University of Calgary lead to research methods of bioremediation of potential oil spills in the arctic. All the funded projects involve emerging knowledge about genomics (e.g., the genetic makeup of living organisms) to help address challenges in the natural resource and environmental sectors. The project will be managed by Genome Alberta in conjunction with Genome Atlantic, and with an international collaboration of partners that are working together to ensure safer and more secure hydrocarbon energy production: Genome Canada, Alberta Economic Development & Trade, Research & Development Corporation of Newfoundland & Labrador, University of Newcastle upon Tyne, Natural Resources Canada, InnoTech Alberta, VIA University College, DNV-GL Canada, U of C Industrial Research Chair, and in-kind support from a variety of industry partners. About the University of Calgary The University of Calgary is making tremendous progress on its journey to become one of Canada's top five research universities, where research and innovative teaching go hand in hand, and where we fully engage the communities we both serve and lead. This strategy is called Eyes High, inspired by the university's Gaelic motto, which translates as 'I will lift up my eyes.' For more information, visit ucalgary.ca. Stay up to date with University of Calgary news headlines on Twitter @UCalgary. For details on faculties and how to reach experts go to our media centre at ucalgary.ca/news/media. About the University of Alberta The University of Alberta in Edmonton is one of Canada's top teaching and research universities, with an international reputation for excellence across the humanities, sciences, creative arts, business, engineering, and health sciences. Home to 39,000 students and 15,000 faculty and staff, the university has an annual budget of $1.84 billion and attracts nearly $450 million in sponsored research revenue. The U of A offers close to 400 rigorous undergraduate, graduate, and professional programs in 18 faculties on five campuses-including one rural and one francophone campus. The university has more than 275,000 alumni worldwide. The university and its people remain dedicated to the promise made in 1908 by founding president Henry Marshall Tory that knowledge shall be used for "uplifting the whole people." About Memorial University Memorial University is one of the largest universities in Atlantic Canada. As the province's only university, Memorial plays an integral role in the education and cultural life of Newfoundland and Labrador. Offering diverse undergraduate and graduate programs to almost 18,000 students, Memorial provides a distinctive and stimulating environment for learning in St. John's, a safe friendly city with great historic charm, a vibrant cultural life and easy access to a wide range of outdoor activities. About Genome Alberta Genome Alberta is a publicly funded not-for-profit genomics research funding organization based in Calgary, Alberta but leads projects at institutions around the province and participates in a variety of other projects across the country. In partnership with Genome Canada, Industry Canada, and the Province of Alberta, Genome Alberta was established in 2005 to focus on genomics as one of the central components of the Life Sciences Initiative in Alberta, and to help position genomics as a core research effort. For more information on the range of projects led and managed by Genome Alberta, visit http://GenomeAlberta.ca


News Article | February 24, 2017
Site: www.marketwired.com

TeraGo Enters into New Strategic Phase Positioned as a Leading Canadian Managed Cloud and Connectivity Solutions Company TORONTO, ONTARIO--(Marketwired - Feb. 23, 2017) - TeraGo Inc. ("TeraGo" or the "Company") (TSX:TGO) (www.terago.ca), today announced financial and operating results for the three months ended and year ended December 31, 2016. "I'm pleased with our financial performance in the fourth quarter of 2016, capping a good finish to a solid year," commented Tony Ciciretto, President and CEO of TeraGo. "We have entered into our new strategic phase and are rolling out a number of key initiatives in 2017 to position ourselves as a leading Canadian Managed Cloud and Connectivity Solutions company". Mr. Ciciretto added, "TeraGo will focus on providing businesses across Canada with resilient hybrid cloud solutions through our owned & operated data centres and securely connecting workloads with managed private interconnection on our own national fibre and wireless network. We are making foundational investments in 2017 in our Product Portfolio, Customer Experience and Marketing & Sales areas to support our strategy." This press release contains references to "Adjusted EBITDA" which is not a measure prescribed by International Financial Reporting Standards (IFRS). The Company believes that Adjusted EBITDA is useful additional information to management, the Board and investors as it provides an indication of the operational results generated by its business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and amortization and it excludes items that could affect the comparability of our operational results and could potentially alter the trends analysis in business performance. Excluding these items does not necessarily imply they are non-recurring, infrequent or unusual. Adjusted EBITDA is also used by some investors and analysts for the purpose of valuing a company. The Company calculates Adjusted EBITDA as earnings before deducting interest, taxes, depreciation and amortization, foreign exchange gain or loss, finance costs, finance income, gain or loss on disposal of network assets, property and equipment, stock-based compensation and restructuring, acquisition-related and integration costs. Investors are cautioned that Adjusted EBITDA should not be construed as an alternative to operating earnings (losses) or net earnings (losses) determined in accordance with IFRS as an indicator of our financial performance or as a measure of our liquidity and cash flows. Adjusted EBITDA does not take into account the impact of working capital changes, capital expenditures, debt principal reductions and other sources and uses of cash, which are disclosed in the consolidated statements of cash flows. A reconciliation of net loss to Adjusted EBITDA is found in the MD&A for the three months ended and year ended December 31, 2016. Adjusted EBITDA does not have any standardized meaning under IFRS/GAAP. TeraGo's method of calculating Adjusted EBITDA may differ from other issuers and, accordingly, Adjusted EBITDA may not be comparable to similar measures presented by other issuers. Management will host a conference call tomorrow, Friday, February 24, 2017, at 9:00 am ET to discuss these results. To access the conference call, please dial 647-427-2311 or 1-866-521-4909. The audited financial statements for the three months ended and year ended December 31, 2016 and Management's Discussion & Analysis for the same periods have been filed on SEDAR at www.sedar.com. Alternatively, these documents along with a presentation in connection with the conference call can be accessed online at www.terago.ca/corporate-facts.html. An archived recording of the conference call will be available until March 3, 2017. To listen to the recording, call 416-621-4642 or 1-800-585-8367 and enter passcode 72950407. TeraGo provides businesses across Canada and internationally with cloud, colocation and connectivity services. TeraGo manages over 3,000 cloud workloads, nine data centres in the Greater Toronto Area, the Greater Vancouver Area, Ottawa, Kelowna, Winnipeg, St. Louis and Newport, United Kingdom, and owns and manages its own IP network. The Company serves approximately 4,000 business customers in 46 major markets across Canada including Toronto, Montreal, Calgary, Edmonton, Vancouver and Winnipeg. TeraGo Networks is a Competitive Local Exchange Carrier (CLEC) and is recognized as a Canadian Telecommunications Employer of Choice for 2016. TeraGo Networks was also recognized by IDC as a Major Player in MarketScape Cloud Vendor Assessment. This press release includes certain forward-looking statements that are made as of the date hereof. Such forward-looking statements may include, but are not limited to, statements relating to TeraGo's growth strategy and new strategic phase, the rolling out of key initiatives in 2017, and foundational investments in 2017 in our Product Portfolio, Customer Experience and Marketing & Sales areas. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities laws. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. The forward-looking statements reflect the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risk that TeraGo's growth strategy, investments and go-to-market approach will not generate the result intended by management, current growth trends in the Company's cloud and data centre business and in the industry may not continue as expected, TeraGo may not meet the growing and complex needs of its customers, and those risks set forth in the "Risk Factors" section in the annual MD&A of the Company for the year ended December 31, 2016 available on www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed with the forward-looking statements. Except as may be required by applicable Canadian securities laws, TeraGo does not intend, and disclaims any obligation, to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL RESULTS FOR THE THREE MONTHS AND FISCAL YEAR ENDED DECEMBER 31, 2016 AND 2015 The following Management's Discussion and Analysis ("MD&A") is intended to help the reader understand the results of operations and financial condition of TeraGo Inc. All references in this MD&A to "TeraGo", the "Company", "we", "us", "our" and "our company" refer to TeraGo Inc. and its subsidiaries, unless the context requires otherwise. This MD&A is dated February 23, 2017 and should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2016 and the notes thereto. Additional information relating to TeraGo, including our most recently filed Annual Information Form ("AIF"), can be found on SEDAR at www.sedar.com and our website at www.terago.ca. For greater certainty, the information contained on our website is not incorporated by reference or otherwise into this MD&A. All dollar amounts included in this MD&A are in Canadian dollars unless otherwise indicated. Certain information included herein is forward-looking and based upon assumptions and anticipated results that are subject to uncertainties. Should one or more of these uncertainties materialize or should the underlying assumptions prove incorrect, actual results may vary significantly from those expected. For a description of material factors that could cause our actual results to differ materially, see the "Forward-Looking Statements" section and the "Risk Factors" section in this MD&A. This MD&A also contains certain industry-related non-GAAP and additional GAAP measures that management uses to evaluate performance of the Company. These non-GAAP and additional GAAP measures are not standardized and the Company's calculation may differ from other issuers. See "Definitions - IFRS, Additional GAAP and Non-GAAP Measures". This MD&A includes certain forward-looking statements that are made as of the date hereof only and based upon current expectations, which involve risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities laws. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. For example, the words anticipate, believe, plan, estimate, expect, intend, should, may, could, objective and similar expressions are intended to identify forward-looking statements. This MD&A includes, but is not limited to, forward looking statements regarding TeraGo's growth strategy, strategic plan, the growth in TeraGo's cloud and data centre businesses, retention campaign and initiatives to improve customer service, additional capital expenditures, investments in data centres, products and other IT services, expansion of network coverage, acquisitions and the integration of Codeninja Ltd. (doing business as "BoxFabric") and the hosting business assets acquired from AirVM Inc. into the Company (the "Hosting Business"). By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this document not to place undue reliance on our forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed with the forward-looking statements. When relying on forward-looking statements to make decisions with respect to the Company, you should carefully consider the risks, uncertainties and assumptions, including the risk that TeraGo's growth strategy and strategic plan will not generate the result intended by management, cross-selling of TeraGo's cloud services may not succeed, retention efforts decreasing profit margins, opportunities for expansion and acquisition not being available or at unfavourable terms, the Company not being able to realize the anticipated benefits and synergies from combining and integrating BoxFabric and the Hosting Business into TeraGo's existing business and those risks set forth in the "Risk Factors" section of this MD&A and other uncertainties and potential events. In particular, if any of the risks materialize, the expectations, and the predictions based on them, of the Company may need to be re-evaluated. Consequently, all of the forward-looking statements in this MD&A are expressly qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences for the Company. Except as may be required by applicable Canadian securities laws, we do not intend, and disclaim any obligation, to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise. 1 Adjusted EBITDA is a Non-GAAP measure. See "Definitions - IFRS, Additional GAAP and Non-GAAP Measures. 2 See "Adjusted EBITDA" for a reconciliation of net loss to Adjusted EBITDA TeraGo provides businesses across Canada and internationally with cloud, colocation and connectivity services, through nine (9) data centres as well as cloud Infrastructure as a Service ("IaaS") computing and storage solutions. With respect to the Company's connectivity services, it owns and operates a carrier-grade, Multi-Protocol Label Switching ("MPLS") enabled fixed wireless, IP communications network in Canada targeting businesses that require Internet access and data connectivity services. The Company provides enterprise cloud services nationally and internationally to multiple high value enterprise customers across a variety of verticals, including secondary and post-secondary education, hospitals, federal and provincial governments and non-profit organizations. The Company specializes in managing enterprise cloud services including IaaS and Platform as a Service ("PaaS") with network. It currently has strategic relationships with several technology partners that give it access to certain products and solutions to provide enterprise cloud services. The Company's subscription-based business model generates stable and predictable recurring revenue from cloud, colocation and connectivity services. The Company offers its connectivity services across Canada and its data and cloud services internationally. Once a customer is obtained, TeraGo's strategy is to generate incremental recurring revenue from that customer by: adding new customer locations, increasing service capacity supplied to existing locations, increasing data centre cabinet space and power and/or providing additional services, as applicable. TeraGo's subscription-based business model generates stable and predictable recurring revenue from Internet, data, voice services, data centre services and cloud services. TeraGo's customers typically sign one, two or three-year contracts. The majority of new customers sign contracts for three years or more. Services are billed monthly or quarterly over the term of the contract. With its entry into data centre services and cloud services, TeraGo has built an operating platform to service the IT solutions sector. Cross selling opportunities to the customer base, while leveraging the Company's carrier grade network has augmented and diversified the Company's revenue base. TeraGo provides cloud services that seek to meet the complex and evolving IT needs of our customers. TeraGo provides IaaS for compute, storage, disaster recovery cloud solutions and other offerings either on a direct or indirect basis. These solutions allow the Company to compete in the cloud services market. TeraGo offers customized cloud storage and compute offerings to customers across Canada. TeraGo cloud can offer a virtualized computing environment whereby customers can access on-demand computing power without the need to acquire and maintain expensive server equipment. TeraGo can also provide offsite cloud storage for key backup and disaster recovery situations, including utilizing partnerships with software and hardware vendors such as Veeam and Solidfire. The Company has strategic relationships and partnerships with technology leaders such as IBM, Cisco, VMware, Microsoft, Mitel and others that gives it early access to intelligence, products and solutions to provide enterprise cloud services. TeraGo provides data centre colocation services that protect and connect our customers' valuable information assets. Customers can provision computing equipment within shared partial cabinets or full, private cabinets, as well as customized caged space designed for their specific needs. TeraGo provides connectivity on redundant routes in and out of the facilities. Hosting and colocation revenue is derived from set-up fees for new installations and monthly recurring charges based on the number of cabinets and/or the quantity of cage space, power requirements, managed services provided and Internet/data bandwidth requirements. Other services, such as disaster recovery services, are provided under custom contractual arrangements. TeraGo also offers a variety of managed hosting solutions, which may require us to manage various aspects of a customer's hardware, software or operating systems in public or privately accessible environment. TeraGo offers disaster recovery services on a custom basis. This includes back-up office facilities that can be used in case of disaster. These facilities can be provisioned at the data centre location and provide customers with the capability to restore office functionality with direct access to their information located in the data centre. Our network can provide these customers Internet and/or secure private virtual LAN connections between the data centre facility and the customer's office location(s). Data centre services customers typically include national government agencies, financial services companies, cloud and data storage service providers, content and network service providers, and small and medium businesses which rely on TeraGo to store and manage their critical IT equipment and provide the ability to directly connect to the networks that enable our information-driven economy. TeraGo's data centres provide data centre solutions, including colocation and disaster recovery, to a roster of small and medium-sized businesses, enterprises, public sector and technology service providers. TeraGo has approximately 60,000 square feet of data centre capacity in seven facilities across Canada: TeraGo operates a 10,000 square foot AT 101 SOC2 Type 2 certified data centre facility in Mississauga, Ontario that was previously managed by BlackBerry Limited and built to a tier 3 standard. This facility predominantly serves the Greater Toronto Area. TeraGo operates a 16,000 square foot AT 101 SOC2 Type 2 certified data centre facility in Vaughan, Ontario, serving the Greater Toronto Area. This data centre and its operations were purchased in May 2013 when the Company acquired Data Centres Canada Inc. TeraGo operates its 18,000 square feet AT 101 SOC2 Type 2 certified data centre in Kelowna named the GigaCenter. The GigaCenter is built to a tier 3 standard and the location in Kelowna is considered ideal for a data centre as the region is considered a seismically stable geographic location, has a temperate climate and has a lower probability of both natural and man-made events that may be a risk. TeraGo operates two AT 101 SOC2 Type 2 certified data centre facilities in downtown Vancouver. Its first facility, acquired in December 2013, is 5,000 square feet and is expandable to 7,000 square feet. The facility has redundant fibre facilities between the data centre and the 'telco hotel', 555 West Hastings, in downtown Vancouver. The second facility which was acquired in April 2014 is 7,000 square feet and is served by TeraGo's fiber optic lines. Both facilities are used to service the Greater Vancouver Area. TeraGo provides data centre services to its customers in central Canada through a data centre in Winnipeg. Colocation services, via the data centre facility, are provided through an agreement that TeraGo has with a local operator. TeraGo provides data centre services to its customers in Ottawa, Ontario through a Tier III AT 101 SOC 1 Type 2 certified data centre. Colocation services, via the data centre facility, are provided through an agreement that TeraGo has with a local operator. TeraGo provides cloud services to its customers through a SSAE 16 (formerly SAS70) SOC 2 certified data centre in St. Louis, Missouri, United States pursuant to an agreement TeraGo has with a local operator. TeraGo provides cloud services to its customers through a Tier 3 designed data centre in Newport, Wales, United Kingdom pursuant to an agreement TeraGo has with a local operator. TeraGo owns and operates a carrier-grade Multi-Protocol Label Switching ("MPLS") enabled wireline and fixed wireless, Internet Protocol ("IP") communications network in Canada, providing businesses with high performance, scalable, and secure access and data connectivity services. TeraGo's carrier grade IP communication network serves an important and growing demand among Canadian businesses for network access diversity by offering wireless services that are redundant to their existing wireline broadband connections. TeraGo's IP network has been designed to eliminate single points of failure and the Company backs its services with customer service level commitments, including 99.9% service availability, industry leading mean time to repair, 24 x 7 telephone and e-mail access to technical support specialists. TeraGo offers Canadian businesses high performance unlimited and usage-based dedicated Internet access with upload and download speeds from 5 megabits per second ("Mbps") up to 1 gigabit per second ("Gbps"). Unlike asymmetrical DSL services offered by many of our competitors, TeraGo provides services that are symmetrical, hence customers can have the same high speed broadband performance whether uploading or downloading. TeraGo enhances service performance by minimizing the number of networks between our customers and their audiences, using peering arrangements with multiple tier-one carriers to connect to the Internet. To deliver its services, the Company has built and operates a carrier-grade, IP network, using licensed and license-exempt spectrum and fibre-optic wireline infrastructure that supports commercially available equipment. The Company owns and controls a national MPLS distribution network from Vancouver to Montreal that aggregates customer voice and data traffic and interconnects where necessary with carrier diverse leased fiber optic facilities. Major Internet peering and core locations are centralized in Vancouver, Toronto and Seattle, although Internet access is also available in all regional markets for further redundancy. TeraGo offers a range of diverse Ethernet-based services over a secured wireless connection to customer locations up to 20 kilometres from a hub (provided line of sight or wireline networks exist) or through a fibre optic connection. TeraGo's MPLS network, including key high traffic hub sites, is equipped with Quality of Service ("QoS") capabilities to improve performance and traffic management. All of TeraGo's major national markets are end-to-end QoS enabled providing the foundation to support voice traffic and other potential future applications. The Company owns a national spectrum portfolio of 24-GHz and 38-GHz wide-area spectrum licences which covers regions across Canada, including 1,160 MHz in Canada's 6 largest cities. This spectrum is used for: point-to-point and point-to-multipoint microwave radio deployments; connecting core hubs together to create a wireless backbone where appropriate (often in a ring configuration to avoid points of failure); and in the access network or "last mile" to deliver high capacity (speeds of 10 to 1,000 Mbps) Ethernet-based links for business, government and cellular backhaul. For further details on licensed spectrums, please refer to the Company's 2016 AIF. TeraGo provides a number of unified communications services and is approved by the Canadian Radio-television and Telecommunications Commission ("CRTC") to offer voice services as a Type IV competitive local exchange carrier ("CLEC"). TeraGo provides businesses with a cost effective, flexible and high quality connection from their private branch exchange (PBX) to the public switched telephone network (PSTN). TeraGo's service provides features and capabilities generally consistent with those provided by incumbent local exchange carriers ("ILECs"), while offering greater value for our customers. The following table displays a summary of our Consolidated Statements of Comprehensive Earnings (Loss) for the three months ended December 31, 2016 and 2015 and the years ended December 31, 2016, 2015 and 2014 and a summary of select Balance Sheet data as at December 31, 2016, 2015 and 2014. Refer to "Definitions - IFRS, Additional GAAP and Non-GAAP Measures" for a description of the components of relevant line items below. Total revenue decreased 3.4% to $14.6 million for the three months ended December 31, 2016 compared to $15.1 million for the same period in 2015. Total revenue increased 2.4% to $59.1 million for the twelve months ended December 31, 2016, compared to $57.7 million for the same period in 2015. For the three months ended December 31, 2016, cloud and colocation revenue increased 13.3% to $4.8 million compared to $4.2 million for the same period in 2015. The increase was driven by greater adoption of cloud services from new and existing customers as well as from the acquisition of the Hosting Business. For the twelve months ended December 31, 2016, cloud and colocation revenue increased 39.0% to $18.3 million compared to $13.2 million for the same period in 2015. The increase was driven by the factors described above, as well as the acquisitions of RackForce, BoxFabric and the Hosting Business. The percentage of revenues from cloud and colocation of our total revenue have increased steadily quarter over quarter during 2016 (Q1 = 29.7%, Q2 = 30.0%, Q3 = 31.3% and Q4 = 32.9%). Connectivity revenues were impacted by a variety of factors, including regional economic difficulties, the company moving away from maintaining its lowest value customers, certain customers renewing long term contracts at lower current market rates and lower usage revenues as certain customers have shifted to unlimited usage plans. For the three months ended December 31, 2016, cost of services decreased 2.9% to $3.3 million compared to $3.4 million for the same period in 2015. The decrease was primarily driven by savings in local loop and transit costs. For the twelve months ended December 31, 2016, cost of services increased to $13.5 million compared to $13.2 million for the same period in 2015. The increase is mainly due to costs associated with owning RackForce, BoxFabric and the Hosting Business, partially offset by the synergies noted above. Salaries and related costs and other operating expenses ("SG&A") For the three months ended December 31, 2016, SG&A decreased to $6.9 million compared to $7.4 million for the same period in 2015. The decrease was primarily driven by lower personnel related expenses, an adjustment to an onerous contract provision related to a data centre due to the increasing number of customers served, and lower legal fees, partially offset by increased restructuring, acquisition-related and integration costs, including those associated with the departure of the former COO. For the twelve months ended December 31, 2016, SG&A increased to $32.0 million compared to $30.6 million for the same period in 2015. The increase was primarily driven by restructuring charges for the former President and CEO and VP of Marketing, and due to costs associated with owning RackForce, BoxFabric and the Hosting Business. For the three months ended December 31, 2016, Adjusted EBITDA(1) increased 0.5% to $4.89 million compared to $4.86 million for the same period in 2015. The increase in Adjusted EBITDA(1) was primarily driven by lower salaries and related costs and other operating expenses offset by decreased connectivity revenue. For the twelve months ended December 31, 2016, Adjusted EBITDA(1) increased 2.9% to $18.9 million compared to $18.4 million for the same period in 2015. The increase was driven by the acquisitions of RackForce, BoxFabric and the Hosting Business, partially offset by the introduction of costs associated from the acquisitions and the factors described above. The table below reconciles net loss to Adjusted EBITDA(1) for the three and twelve months ended December 31, 2016 and 2015. For the three months ended December 31, 2016, finance costs decreased to $0.4 million compared to $0.5 million for the same period in 2015. For the twelve months ended December 31, 2016, finance costs decreased to $1.9 million compared to $2.6 million for the same period in 2015. The decrease in both periods was driven by the mark to market impact of revaluing the Company's interest rate swap contract on the drawn credit facility. For the three months ended December 31, 2016, there was an income tax recovery of $15 thousand compared to an income tax expense of $4 thousand for the same period in 2015. For the twelve months ended December 31, 2016, income tax expense increased to $0.7 million compared to a recovery of $1.1 million for the same period in 2015 due to changes in the anticipated recovery of deferred tax assets in the near term. For the three months ended December 31, 2016, depreciation of network assets, property and equipment and amortization of intangibles decreased by $0.3 million compared to the same period in 2015. For the twelve months ended December 31, 2016, depreciation of network assets, property and equipment and amortization of intangibles increased to $15.3 million compared to $15.1 million for the same period in 2015. The increase is mainly attributed to the depreciation and amortization of RackForce acquired intangibles and cloud and data centre infrastructure for all of fiscal 2016 compared to nine months in 2015. For the three months ended December 31, 2016, net income was $0.4 million compared to a net loss of $0.2 million for the same period in 2015. The increase in net income was primarily driven by lower finance costs, lower depreciation and amortization and lower stock-based compensation expense, partially offset by increased restructuring costs. For the twelve months ended December 31, 2016, net loss was $4.3 million compared to a net loss of $2.8 million for the same period in 2015. Net loss was negatively impacted compared to the prior period by increased restructuring, acquisition-related and integration costs, and a write-off of deferred tax assets, partially offset by revenue growth in the cloud and colocation services associated with the RackForce, BoxFabric and the Hosting Business acquisitions. The Company's net customer growth, with respect to its connectivity business, is typically impacted adversely by weather conditions as the majority of new customer locations require the installation of rooftop equipment. Typically, harsher weather in the first quarter of the year results in a reduction of productive installation days. The Company's cash flow and earnings are typically impacted in the first quarter of the year due to several annual agreements requiring payments in the first quarter including annual rate increases in long-term contracts and the restart on January 1st of payroll taxes and other levies related to employee compensation. TeraGo has historically financed its growth and operations through cash generated by operations, the issuance of equity securities and long-term debt. The table below is a summary of cash inflows and outflows by activity. For the three months ended December 31, 2016, cash generated from operating activities was $5.1 million compared to cash generated of $5.2 million for the same period in 2015. The decrease in cash generated is due to changes in working capital. For the twelve months ended December 31, 2016, cash generated from operating activities was $16.4 million compared to cash generated of $15.7 million for the same period in 2015 principally related to changes in working capital. For the three months ended December 31, 2016, cash used in investing activities was $2.3 million compared to cash used of $1.3 million for the same period in 2015. The increase in cash used in investing activities is due to higher capital expenditures related to provisioning customers. For the twelve months ended December 31, 2016, cash used in investing activities was $9.6 million compared to cash used of $41.1 million for the same period in 2015. The year ended December 31, 2015 included $31.0 million for the acquisition of RackForce. For the three months ended December 31, 2016, cash used from financing activities was $1.6 million compared to cash used of $1.5 million for the same period in 2015. For the twelve months ended December 31, 2016, cash used from financing activities was $6.8 million compared to cash generated of $35.6 million for the same period in 2015. The increase in cash used for financing for the three months ended December 31, 2016 is due to a reduction of proceeds from exercised options pursuant to the Company's stock option plan, which are partially offset by less interest and principal repayments. The increase in cash used from financing activities for the twelve months ended December 31, 2016 is mainly due to higher cash proceeds received for the same period in 2015 from the amended credit facility to finance the acquisition of RackForce and an equity offering. As at December 31, 2016, the Company had cash and cash equivalents of $13.0 million and access to the $34.3 million undrawn portion of its $85.0 million credit facilities. The Company anticipates incurring additional capital expenditures for the purchase and installation of network, data centre and cloud assets, systems and processes upgrades and customer premise equipment. As economic conditions warrant, the Company may expand its network coverage into new Canadian markets using wireless or fibre optics and making additional investments in data centres, cloud and other IT services through acquisitions or expansion. Management believes the Company's current cash, anticipated cash from operations, access to the undrawn portion of debt facilities and its access to additional financing in the form of debt or equity will be sufficient to meet its working capital and capital expenditure requirements for the foreseeable future In June 2014, the Company entered into an agreement with a syndicate led by the National Bank of Canada ("NBC") to provide a $50.0 million credit facility that is principally secured by a general security agreement over the Company's assets. In March 2015, the Company entered into an amended agreement with a syndicate led by NBC that increases the credit facility by $35.0 million ($30.0 million increase to the term debt facility and $5.0 million increase to the revolving facility) and extended the term from June 6, 2017 to June 30, 2018. Other terms are substantially consistent with the existing credit facilities. The total $85.0 million facility that matures June 30, 2018 is made up of the following: The financing fees have been deferred and amortized using the effective interest method over the term of the facility. The NBC facility is subject to certain financial and non-financial covenants which the Company is in compliance with at December 31, 2016. Under this facility, the Company is also subject to a cash flow sweep that could accelerate principal repayments based on a detailed calculation outlined by NBC not later than 120 days after the end of each fiscal year. On June 11, 2015, the Company completed an equity offering to issue and sell 1,755 common shares for gross proceeds of $10.0 million (the "Offering"). Proceeds net of commissions, legal, accounting and listing fees were $9.2 million. The Offering was carried out pursuant to an underwriting agreement with a syndicate of underwriters led by National Bank Financial Inc. and TD Securities Inc. and included Cormark Securities Inc., PI Financial Corp. and RBC Capital Markets. The Company allocated $9.2 million of the intended use of net proceeds from the equity offering as follows: As of December 31, 2016, $3.3 million of the net proceeds from the equity offering were used. The Company's intended use of these proceeds has not changed. The Company is committed to leases for premises, office equipment, network real estate access, automobiles, telecommunication facilities and radio spectrum licenses. Annual minimum payments over the next five years and thereafter are as follows: As of December 31, 2016, the Company had no off-balance sheet arrangements apart from operating leases noted above. Two former Directors of the Company, who retired effective June 23, 2016, also served as Chairman of the Board and a Director of a customer of the Company. Revenue from this customer for the year ended December 31, 2016 and 2015 was $40 thousand and $79 thousand, respectively. Accounts receivable from this customer as at December 31, 2016 and 2015 was nil and $3 thousand, respectively. The terms governing these related party transactions are consistent with those negotiated on an arm's length basis with non-related parties. TeraGo's authorized share capital consists of an unlimited number of Common Shares, an unlimited number of Class A Non-Voting Shares and two Class B Shares. A detailed description of the rights, privileges, restrictions and conditions attached to the authorized shares is included in the Company's 2015 Annual Information Form, a copy of which can be found on SEDAR at www.sedar.com. As of February 23, 2017, there were 14,258 thousand Common Shares issued and outstanding and two Class B Shares issued and outstanding. In addition, as of February 23, 2017, there were 660 thousand Common Shares issuable upon exercise of TeraGo stock options. The Company initially measures financial instruments at fair value. Transaction costs that are directly attributable to the issuance of financial assets or liabilities are accounted for as part of the carrying value at inception (except for transaction costs related to financial instruments recorded as FVTPL financial assets which are expensed as incurred), and are recognized over the term of the assets or liabilities using the effective interest method. Subsequent measurement and treatment of any gain or loss is recorded as follows: The following is a summary of the Company's significant categories of financial instruments as at December 31, 2016: A financial asset carried at amortized cost is considered impaired if objective evidence indicates that one or more events have had a negative effect on the estimated future cash flow of that asset that can be estimated reliably. An impairment loss is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset's original effective interest rate. In assessing impairment, the Company uses historical trends of the probability of default, timing of recoveries and the amount of loss incurred, adjusted for management's judgment as to whether current economic and credit conditions are such that the actual losses are likely to be greater or less than suggested by historical trends. Losses are recognized in the consolidated statements of loss and reflected in an allowance account against the financial asset. Loans and receivables Loans and receivables are financial assets with fixed or determinable payments that are not quoted in an active market. Such assets currently are comprised of cash and cash equivalents, accounts receivable and restricted cash. The Company recognizes debt securities issues and subordinated liabilities on the date that they originated. All other financial liabilities are recognized initially on the date that the Company becomes a party to the contractual provisions. The Company has the following non-derivative financial liabilities: current and long-term debt, accounts payable and accrued liabilities, and current portion and long-term portion of other long term liabilities. Such liabilities are recognized initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured at amortized cost using the effective interest method. Interest on loans and borrowings is expensed as incurred unless capitalized for qualifying assets in accordance with IAS 23, Borrowing Costs. Loans and borrowings are classified as a current liability unless the Company has an unconditional right to defer settlement for at least 12 months after the end of the year. The Company uses an interest rate swap contract to manage the risk associated with the fluctuations of interest rates on its long-term debt. Management does not apply hedge accounting on the interest rate swap contract. As a result, the interest rate swap contract is marked to market each period, resulting in a gain or loss in net loss for the year. Fair value of financial instruments The Company has determined the estimated fair values of its financial instruments based on appropriate valuation methodologies. Where quoted market values are not readily available, the Company may use considerable judgment to develop estimates of fair value. Accordingly, any estimated values are not necessarily indicative of the amounts the Company could realize in a current market exchange and could be materially affected by the use of different assumptions or methodologies. The Company classifies its fair value measurements within a fair value hierarchy, which reflects the significance of the inputs used in making the measurements as defined in IFRS 7 - Financial Instruments - Disclosures. Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 - Inputs other than quoted prices included in Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3 - Unobservable inputs for the asset or liability which are supported by little or no market activity The fair values of cash and cash equivalents, short-term investments and restricted cash, which are primarily money market and fixed income securities, are based on quoted market values. The fair values of short-term financial assets and liabilities, including accounts receivable, accounts payable and accrued liabilities, as presented in the consolidated statements of financial position, approximate their carrying amounts due to their short-term maturities. The fair value of long-term debt approximates its carrying value because management believes the interest rates approximate the market interest rate for similar debt with similar security. The fair value of our interest rate swap contract is based on broker quotes and therefore, these contracts are measured using Level 2 inputs. Similar contracts are traded in an active market and the quotes reflect the actual transactions in similar instruments. The Company's cash and cash equivalents and restricted cash subject the Company to credit risk. The Company maintains cash and investment balances at Tier 1 Canadian financial institutions. The Company's maximum exposure to credit risk is limited to the amount of cash and cash equivalents. Credit risk related to our interest rate swap contract arises from the possibility that the counter party to the agreement may default on their obligation. The Company assesses the creditworthiness of the counterparty to minimize the risk of counterparty default. The interest rate swap is held by National Bank Financial. The Company, in the normal course of business, is exposed to credit risk from its customers and the accounts receivable are subject to normal industry risks. The Company attempts to manage these risks by dealing with credit worthy customers. If available, the Company reviews credit bureau ratings, bank accounts and industry references for all new customers. Customers that do not have this information available are typically placed on a pre-authorized payment plan for service or provide deposits to the Company. This risk is minimized as the Company has a diverse customer base located across various provinces in Canada. As at December 31, 2016 and 2015, the Company had no material past due trade accounts receivable. The Company is subject to interest rate risk on its cash and cash equivalents and long-term debt. The Company is exposed to interest rate risk on its operating line of credit since the interest rates applicable are variable and is, therefore, exposed to cash flow risks resulting from interest rate fluctuations. As at December 31, 2016, the operating line of credit balance was $nil. The drawn term facility as at December 31, 2016 was $41.3 million, $41.1 million of which was held in a Bankers Acceptance. In 2015, the Company entered into amended interest rate swap contracts that matures June 29, 2018. The interest rate on the Banker's Acceptance at December 31, 2016 was 3.99%. The remaining $150 thousand drawn under this facility bears interest for the period at prime rate plus a margin. The Company believes that its current cash and cash equivalents and anticipated cash from operations will be sufficient to meet its working capital and capital expenditure requirements for the foreseeable future. As at December 31, 2016, the Company had cash and cash equivalents of $13.0 million. The Company has access to the $34.3 million undrawn portion of its $85,000 credit facilities after consideration of outstanding letters of credit. The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Key areas of estimation and information about critical judgments in applying accounting policies that have the most significant effect on amounts recognized in the consolidated financial statements are: TeraGo is exposed to a number of risks and uncertainties that are common to other companies engaged in the same or similar businesses. The following is a summary of the material risks that could significantly affect the financial condition, operating results or business of TeraGo. Our revenue in past periods may not be indicative of future performance from quarter to quarter or year to year. In addition, our operating results may not follow any past trends. The factors affecting our revenue and results, many of which are outside of our control, include: Transition of the Company to a Multi-Product IT Services Company In the past, the core business of the Company was to provide internet access services. The Company has recently transitioned to a multi-product IT services company focused on the management of its customer's data flow. In doing so, TeraGo is offering colocation services through its data centres and is offering cloud storage and cloud computing services. If TeraGo is unable to execute on its new business strategy and to grow the business, either as a result of the risks identified in this section or for any other reason, the business, prospects, financial condition and results of operations will be materially and adversely affected. On March 27, 2015, the Company completed the acquisition of RackForce, on September 18, 2015, the Company completed the acquisition of BoxFabric and on May 26, 2016 the Company completed the acquisition of the Hosting Business (collectively the "Acquisitions"). The Company may not be able to fully realize the anticipated future benefits and synergies of the Acquisitions on a timely basis or at all. The Acquisitions involve challenges and risks, including risks that the transactions do not advance TeraGo's business strategy or that the Company will not realize a satisfactory return. The potential failure of the due diligence processes to identify significant problems, liabilities or other shortcomings or challenges with respect to assets of RackForce, BoxFabric and the Hosting Business including customer contracts, condition of the equipment acquired, intellectual property, revenue recognition or other accounting practices, taxes, corporate governance and internal controls, regulatory compliance, employee, supplier or partner disputes or issues and other legal and financial contingencies could decrease or eliminate the anticipated benefits and synergies of the Acquisitions and could negatively affect the Company's future business and financial results. The overall success of the Acquisitions will depend, in part, on the Company's ability to realize the anticipated benefits and synergies from combining and integrating the RackForce, BoxFabric and the Hosting Business businesses into TeraGo's existing business. In particular, the Company's offering of cloud services is relatively new and the limited experience of management in providing cloud services prior to the Acquisitions may limit the full benefits or continued growth of such business. Integration of RackForce, BoxFabric and the Hosting Business requires significant management attention and expansion of TeraGo's staff in operations, marketing, sales and general and administrative functions. The Company may have difficulties in the integration of the acquired company's departments, systems, including accounting, human resource and other administrative systems, technologies, books and records, and procedures, as well as in maintaining uniform standards, controls, including internal control over financial reporting required by Canadian securities laws and related procedures and policies. If we cannot integrate the Acquisitions successfully, it could have a material adverse impact on our business, financial condition and results of operations. As part of the Company's business strategy, TeraGo may also continue to acquire additional companies, assets or technologies principally related to, or complementary to, our current operations. Any such acquisitions will be accompanied by certain risks including but not limited to exposure to unknown liabilities of acquired companies, higher than anticipated acquisition costs and expenses, the difficulty and expense of integrating operations, systems, and personnel of acquired companies, disruption of the Company's ongoing business, inability to retain key customers, distributors, vendors and other business partners of the acquired company, diversion of management's time and attention; and possible dilution to shareholders. The competitive market in which the Company conducts its business could require the Company to reduce its prices. If competitors offer discounts on certain products or services in an effort to recapture or gain market share or to sell other products, the Company may be required to lower prices or offer other favourable terms to compete successfully. Any such changes would likely reduce the Company's margins and could adversely affect operating results. Some of the Company's competitors may bundle services that compete with the Company for promotional purposes or as a long-term pricing strategy or provide guarantees of prices and product implementations. These practices could, over time, limit the prices that the Company can charge for its products. If the Company cannot offset price reductions with a corresponding increase in volume, bundling of services or with lower spending, then the reduced revenues resulting from lower prices would adversely affect the Company's margins and operating results. The Company currently has available capacity in its data centres and intends to expand its footprint in the cloud and data centre market. There can be no assurance that the existing or future market demand will be sufficient to fill this capacity. Should the demand for the Company's cloud and data centre services decline or fail to increase, this may negatively affect the Company's ability to capitalize on its high operating leverage and may adversely affect the Company's future financial performance. Reductions in the amount or cancellations of customers' orders would adversely affect our business, results of operations and financial condition. Our network security, data centre security and the authentication of our customer credentials are designed to protect unauthorized access to data on our network and to our data centre premises. Because techniques used to obtain unauthorized access to or to sabotage networks (including DDoS attacks) change frequently and may not be recognized until launched against a target, we may be unable to anticipate or implement adequate preventive measures against unauthorized access or sabotage. Consequently, unauthorized parties may overcome our network security and obtain access to confidential, customer or employee data on our network, including on a device connected to our network. In addition, because we own and operate our network, unauthorized access or sabotage of our network could result in damage to our network and to the computers or other devices used by our customer. An actual or perceived breach of network security or data centre security could harm public perception of the effectiveness of our security measures, adversely affect our ability to attract and retain customers, expose us to significant liability and adversely affect our business and revenue prospects. The Company aims to mitigate and manage certain cyber security risks by employing specific policies and procedures, carrying out IT security-related audits, obtaining IT security-related compliance certificates, designating a security officer that oversees the IT security of the Company, designating a privacy officer that is accountable for the Company's compliance with applicable privacy laws, using DDoS mitigation, tools and services, utilizing back-up and disaster recovery services and maintaining specific cyber liability insurance coverage to insure against cyber security incidents. The successful implementation of our business strategy depends upon controlling customer churn. Customer churn is a measure of customers who stop using our services. Customer churn could increase as a result of: An increase in customer churn can lead to slower customer growth, increased costs and a reduction in revenue. Given the current economic environment, there is risk that churn levels could increase in the future. The continued growth and operation of our business may require additional funding for working capital, debt service, the enhancement and upgrade of our network, the build-out of infrastructure to expand the coverage area of our services, possible acquisitions and possible bids to acquire spectrum licences. We may be unable to secure such funding when needed in adequate amounts or on acceptable terms, if at all. To execute our business strategy, we may issue additional equity securities in public or private offerings, potentially at a price lower than the market price at the time of such issuance. Similarly, we may seek debt financing and we may be forced to incur significant interest expense. If we cannot secure sufficient funding, we may be forced to forego strategic opportunities or delay, scale back or eliminate network deployments, operations, acquisitions, spectrum acquisitions and other investments. The Company relies on its Credit Facilities to operate its business, including for the maintenance of a certain level of liquidity and to carry out its strategy. There can be no assurance that the Company will continue to have access to appropriate Credit Facilities on reasonable terms and conditions, if at all beyond the maturity date of June 30, 2018 for the existing Credit Facilities. An inability to draw down upon the Credit Facilities could have a material adverse effect on the Company's business, liquidity, financial condition and results of operations. Covenants in our Credit Facilities with our lenders impose operating and financial restrictions on us. A breach of any of these covenants could result in a default under our Credit Facilities. These restrictions may limit our ability to obtain additional financing, withstand downturns in our business and take advantage of business opportunities. Moreover, we may be required to seek additional debt financing on terms that include more restrictive covenants, may require repayment on an accelerated schedule or may impose other obligations that limit our ability to grow our business, acquire needed assets, or take other actions we might otherwise consider appropriate or desirable. Key Competitors are More Established and Have More Resources The market for internet access, data connectivity, cloud and data centre services is highly competitive and we compete with several other companies within each of our markets. Many of our competitors are better established or have greater financial resources than we have. Our competitors include: Many of our competitors are well established with larger and better developed networks and support systems, longer standing relationships with customers and suppliers, greater name recognition and greater financial, technical and marketing resources than we have. Our competitors may subsidize competing services with revenue from other sources and, thus, may offer their products and services at prices lower than ours. We may not be able to reduce our prices which may make it more difficult to attract and retain customers. We expect other existing and prospective competitors to adopt technologies and/or business plans similar to ours, or seek other means to develop services competitive with ours, particularly if our services prove to be attractive in our target markets. We may from time to time make strategic acquisitions of other assets and businesses. Any such transactions can be risky, may require a disproportionate amount of our management and financial resources and may create unforeseen operating difficulties or expenditures, including: If we do not successfully address these risks or any other problems encountered in connection with an acquisition, the acquisition could have a material adverse effect on our business, results of operations and financial condition. In addition, if we proceed with an acquisition, our available cash may be used to complete the transaction, diminishing our liquidity and capital resources, or additional equity may be issued which could cause significant dilution to existing shareholders. Changes to Technologies and Standards The industries TeraGo operates is characterized by rapidly changing technology, evolving industry standards and increasingly sophisticated customer requirements. The introduction of new or alternative technology and the emergence of new industry standards may render our existing network, equipment and/or infrastructure obsolete and our services unmarketable and may exert price pressures on existing services. It is critical to our success that we be able to anticipate changes in technology or in industry standards and ensure that we can leverage such new technologies and standards in a timely and cost-effective manner to remain competitive from a service and cost perspective. Investments in Development of New Technologies, Products and Services The Company has and will continue to make significant investments in the development and introduction of new products and services that make use of the Company's network, infrastructure and equipment. There is no assurance that the Company will be successful in implementing and marketing these new products and services in a reasonable time, or that they will gain market acceptance. Development could be delayed for reasons beyond our control. Alternatively, we may fail to anticipate or satisfy the demand for certain products or services, or may not be able to offer or market these new products or services successfully to customers. The failure to attract customers to new products or services, cross-sell service to our existing customer base or failure to keep pace with changing consumer preferences for products or services would slow revenue growth and could have a materially adverse effect on our business, results of operations and financial condition. We expect to allocate significant resources in expanding, maintaining and improving our network. Additionally, as the number of our customer locations increases, as the usage habits of our customers change and as we increase our service offerings, we may need to upgrade our network to maintain or improve the quality of our services. If we do not successfully implement upgrades to our network, the quality of our services may decline and our churn rate may increase. We may experience quality deficiencies, cost overruns and delays with the expansion, maintenance and upgrade of our network and existing infrastructure including the portions of those projects not within our control. Expansion of our network or infrastructure may require permits and approvals from governmental bodies and third parties. Failure to receive approvals in a timely fashion can delay expansion of our network. In addition, we are typically required to obtain rights from land, building and tower owners to install the antennas and other equipment that provide our internet access service to our customers. We may not be able to obtain, on terms acceptable to us or at all, the rights necessary to expand our network or existing infrastructure. We also may face challenges in managing and operating our network and existing infrastructure. These challenges include ensuring the availability of customer equipment that is compatible with our network and managing sales, advertising, customer support, and billing and collection functions of our business while providing reliable network service that meets our customers' expectations. Our failure in any of these areas could adversely affect customer satisfaction, increase churn, increase our costs, decrease our revenue and otherwise have a material adverse effect on our business, prospects, financial condition and results of operations. Reliance on Certain Third Parties We rely on third-party suppliers, in some cases sole suppliers or limited groups of suppliers, to provide us with components necessary for the operation and upgrading of our network and infrastructure. If we are unable to obtain sufficient allocations of components, our network expansion will be delayed, we may lose customers and our profitability will be affected. Reliance on suppliers also reduces our control over costs, delivery schedules, reliability and quality of components. Any inability to obtain timely deliveries of quality components, or any other circumstances that would require us to seek alternative suppliers, could adversely affect our ability to expand and maintain our network or infrastructure. In addition, the Company relies on third party partners, agents and resellers to carry out its business. If these third parties do not honour their contractual commitments or cease to do business, it may have a significant impact on our business. Replacements for such third parties may require a lengthy period of time in order to establish a commercially comparable relationship. While the majority of the Company's revenues are earned in Canadian dollars, a portion of its costs, including for certain capital expenditures are paid in U.S. dollars. As a result, the Company is exposed to currency exchange rate risks. A change in the currency exchange rate may increase or decrease the amount of Canadian dollars required to be paid by the Company for its U.S. expenditures. The Company does not currently have any foreign exchange contracts to manage the foreign exchange risk. As a result, there can be no assurance that currency fluctuations will not have a material adverse effect on the Company. As the Company currently borrows funds through its credit facility, certain portions of the facility are based on a variable interest rate. A significant rise in interest rates may materially increase the cost of either its revolving or non-revolving credit facilities. The Company mitigates a portion of the underlying interest rate risk with respect to the non-revolving term credit facility by entering into an interest rate swap contract to effectively fix the underlying interest rate on a variable rate debt. Similar interest rate swap contracts have not been entered into for the other portions of the credit facility. To the extent funds have been drawn down from such facilities, the Company will be exposed to interest rate fluctuations. We are subject to the laws of Canada and to regulations set by regulatory authorities of the Canadian government, primarily the CRTC and Industry Canada. Regulatory authorities may adopt new laws, policies or regulations, or change their interpretation of existing laws, policies or regulations, that could cause our existing authorizations to be changed or cancelled, require us to incur additional costs, or otherwise adversely affect our operations, revenue or cost of capital. Any currently held regulatory approvals or licences may be subject to rescission and non-renewal. Additional approvals or licences may be necessary that we may not be able to obtain on a timely basis or on terms that are not unduly burdensome. Further, if we fail to obtain or maintain particular approvals on acceptable terms, such failure could delay or prevent us from continuing to offer some or all of our current or new services, or offer new services, and adversely affect our results of operations, business prospects and financial condition. Even if we were able to obtain the necessary approvals, the licences or other approvals we obtain may impose significant operational restrictions. The acquisition, lease, maintenance and use of spectrum are extensively regulated in Canada. These regulations and their application are subject to continual change as new legislation, regulations or amendments to existing regulations are adopted from time to time by governmental or regulatory authorities, including as a result of judicial interpretations of such laws and regulations. Current regulations directly affect the breadth of services we are able to offer and may impact the rates, terms and conditions of our services. The breach of the conditions of a licence or applicable law, even if inadvertent, can result in the revocation, suspension, cancellation or reduction in the term of a licence or the imposition of fines. In addition, regulatory authorities may grant new licences to third parties, resulting in greater competition in markets where we already have rights to licenced spectrum. In order to promote competition, licences may also require that third parties be granted access to our bandwidth, frequency capacity, facilities or services. We may not be able to obtain or retain any required licence, and we may not be able to renew our licences on favourable terms, or at all. Our internet access services may become subject to greater regulation in the future. If we become subject to proceedings before the CRTC or Industry Canada with respect to our compliance with the relevant legislation and regulations relating to restrictions on foreign ownership and control, we could be materially adversely affected, even if it were ultimately successful in such a proceeding. There can be no assurance that a future CRTC or Industry Canada determination or events beyond our control will not result in our ceasing to comply with the relevant legislation or regulations. If this occurs, our ability to operate as a Canadian carrier under the Telecommunications Act or to hold, renew or secure licences under the Radio Communication Act could be jeopardized and our business, operating results and financial condition could be materially adversely affected. Obtaining and Maintaining Licenced Spectrum in Certain Markets To offer our internet services using licenced spectrum in Canada, we depend on our ability to acquire and maintain sufficient rights to use spectrum through ownership or long-term leases in each of the markets in which we operate or intend to operate. Obtaining the necessary amount of licenced spectrum can be a long and difficult process that can be costly and require a disproportionate amount of our resources. We may not be able to acquire, lease or maintain the spectrum necessary to execute our business strategy. In addition, we may spend significant resources to acquire spectrum licences, even if the amount of spectrum actually acquired in certain markets is not adequate to deploy our network on a commercial basis in all such markets. Using licenced spectrum, whether owned or leased, poses additional risks to us, including: We expect Industry Canada to make additional spectrum available from time to time. Additionally, other companies hold spectrum rights that could be made available for lease or sale. The availability of additional spectrum in the marketplace could change the market value of spectrum rights generally and, as a result, may adversely affect the value of our spectrum assets. We also use radio equipment under individual radio licences issued by Industry Canada, and subject to annual renewal. We may not be able to obtain the licences we require thereby jeopardizing our ability to reliably deliver our internet services. Industry Canada may decline to renew our licences, or may impose higher fees upon renewal, or impose other conditions that adversely affect us. Industry Canada may decide to reassign the spectrum in the bands we use to other purposes, and may require that we discontinue our use of radio equipment in such bands. We presently utilize licence-exempt spectrum in connection with a majority of our internet customers. Licence-exempt or "free" spectrum is available to multiple simultaneous users and may suffer bandwidth limitations, interference and slowdowns if the number of users exceeds traffic capacity. The availability of licence-exempt spectrum is not unlimited and others do not need to obtain permits or licences to utilize the same licence-exempt spectrum that we currently or may in the future utilize, threatening our ability to reliably deliver or expand our services. Moreover, the prevalence of licence-exempt spectrum creates low barriers to entry in our business, creating the potential for heightened competition. Regulation of the Internet and the content transmitted through that medium is a topic that receives considerable political discussion from time to time, from both a "pro-regulation" and an "anti-regulation" perspective, including discussions on whether all internet traffic should be delivered equally. It is unclear as to what impact decisions made on either side of this issue by various political and governing bodies could have on us and our business or on the ability of our customers to utilize our internet services. Interruption or Failure of Information Technology and Communications Systems We have experienced service interruptions in some markets in the past and may experience service interruptions or system failures in the future. Our services depend on the continuing operation of our cloud and data centre, information technology and communications systems. Any service interruption adversely affects our ability to operate our business and could result in an immediate loss of revenue. If we experience frequent or persistent system, power or network failures, our reputation and brand could be permanently harmed. We may make significant capital expenditures to increase the reliability and security of our systems, but these capital expenditures may not achieve the results we expect. Our systems and data centres are vulnerable to damage or interruption from earthquakes, terrorist attacks, floods, fires, power loss, telecommunications failures, computer viruses, computer denial of service attacks or other attempts to harm our systems, and similar events. Some of our systems are not fully redundant and our disaster recovery planning may not be adequate. The occurrence of a natural disaster or unanticipated problems at our network centres or data centres could result in lengthy interruptions in our service and adversely affect our operating results. The Company could also be required to make significant expenditures if the Company's systems were damaged or destroyed, or pay damages if the delivery of the Company's services to its customers were delayed or stopped by any of these occurrences. We depend on the services of key technical, sales, marketing and management personnel. The loss of any of these key persons could have a material adverse effect on our business, results of operations and financial condition. Our success is also highly dependent on our continuing ability to identify, hire, train, motivate and retain highly qualified technical, sales, marketing and management personnel. Competition for such personnel can be intense and we cannot provide assurance that we will be able to attract or retain highly qualified technical, sales, marketing and management personnel in the future. Our inability to attract and retain the necessary technical, sales, marketing and management personnel may adversely affect our future growth and profitability. It may be necessary for us to increase the level of compensation paid to existing or new employees to a degree that our operating expenses could be materially increased. If we cannot hire, train and retain motivated and well-qualified individuals, we may face difficulties in attracting, recruiting and retaining various sales and support personnel in the markets we serve, which may lead to difficulties in growing our subscriber base. The Company's data centres are located in leased premises and there can be no assurance that the Company will remain in compliance with the Company's leases, that the landlord will continue to support the operation of the Company's data centre and that the leases will not be terminated despite negotiation for long term lease periods and renewal provisions. Termination of a lease could have a material adverse effect on the Company's business, results of operations and financial condition. The Company's data centres are susceptible to regional variations in the cost of power, electrical power outages, planned or unplanned power outages and limitations on availability of adequate power resources. Power outages can harm, and in the past, have harmed the Company's customers and its business, including the loss of customers' data and extended service interruptions. While the Company attempts to limit exposure to system downtime by using backup generators and power supplies, the Company cannot limit the Company's exposure entirely even with these protections in place. With respect to any increase in energy costs, the Company may not always be able to pass these increased costs on to the Company's customers which could have a material adverse effect on the Company's business, results of operations and financial condition. Competitors or other persons may independently develop, patent technologies or copyright software that are substantially equivalent or superior to those we currently use or plan to use or that are necessary to permit us to deploy and operate our network, data centres or provide cloud services. Some of these patents, copyrights or rights may grant very broad protection to the owners. We cannot determine with certainty whether any existing third party intellectual property or the issuance of any third party intellectual property would require us to alter technology or software we use, obtain licences or cease certain activities. Defending against infringement claims, even meritless ones, would be time consuming, distracting and costly. If we are found to be infringing the proprietary rights of a third party, we could be enjoined from using such third party's rights, may be required to pay substantial royalties and damages, and may no longer be able to use the intellectual property subject to such rights on acceptable terms or at all. Failure to obtain licences to intellectual property held by third parties on reasonable terms, or at all, could delay or prevent us from providing services to customers and could cause us to expend significant resources to acquire technology which includes non-infringing intellectual property. If we have to negotiate with third parties to establish licence arrangements, or to renew existing licences, it may not be successful and we may not be able to obtain or renew a licence on satisfactory terms or at all. If required licences cannot be obtained, or if existing licences are not renewed, litigation could result. Our accumulated deficit at December 31, 2016 was $63.1 million and have incurred a net loss in the last three fiscal years. We cannot anticipate with certainty what our earnings, if any, will be in any future period. However, we could incur further net losses as we continue to expand our network into new and existing markets and pursue our business strategy in providing cloud and data centre services. Accordingly, our results of operations may fluctuate significantly, which may adversely affect the value of an investment in our Common Shares. We may also invest significantly in our business before we expect cash flow from operations to be adequate to cover our anticipated expenses. The market for our services depends on economic and geopolitical conditions affecting the broader market. Economic conditions globally are beyond our control. In addition, acts of terrorism and the outbreak of hostilities and armed conflicts between countries can create geopolitical uncertainties that may affect the global economy. Downturns in the economy or geopolitical uncertainties may cause customers to delay or cancel projects, reduce their overall capital or operating budgets or reduce or cancel orders for our services, which could have a material adverse effect on our business, results of operations and financial condition Certain new standards, interpretations, amendments and improvements to existing standards have been issued by the IASB. The standards impacted that may be applicable to the Company are as follows: On May 28, 2014, the IASB issued IFRS 15 which supersedes existing standards and interpretations including IAS 18, Revenue and IFRIC 13, Customer Loyalty Programmes. IFRS 15 introduces a single model for recognizing revenue from contracts with customers with the exception of certain contracts under other IFRSs. The standard requires revenue to be recognized in a manner that depicts the transfer of promised goods or services to a customer and at an amount that reflects the expected consideration receivable in exchange for transferring those goods or services. This is achieved by applying the following five steps: IFRS 15 also provides guidance relating to the treatment of contract acquisition and contract fulfillment costs. The standard is currently effective for annual periods beginning on or after January 1, 2018. The Company is assessing the impact of this standard on the consolidated financial statements. The extent of the impact has not yet been determined. On July 24, 2014, the IASB issued the final publication of the IFRS 9 standard, superseding the current IAS 39, Financial Instruments: recognition and measurement ("IAS 39") standard. IFRS 9 includes revised guidance on the classification and measurement of financial instruments, including a new expected credit loss model for calculating impairment on financial assets, and the new general hedge accounting requirements. It also carries forward the guidance on recognition and derecognition of financial instruments from IAS 39. The standard is effective for annual periods beginning on or after January 1, 2018 with early adoption permitted. The Company is assessing the impact of this standard on the consolidated financial statements. The extent of the impact has not yet been determined. On January 13, 2016, the IASB issued the final publication of the IFRS 16 standard, which will supersede the current IAS 17, Leases standard. Under IFRS 16, a lease will exist when a customer controls the right to use an identified asset as demonstrated by the customer having exclusive use of the asset for a period of time. IFRS 16 introduces a single accounting model for lessees and all leases will require an asset and liability to be recognized on the statement of financial position at inception. The accounting treatment for lessors will remain largely the same as under IAS 17. The standard is effective for annual periods beginning on or after January 1, 2019 with early adoption permitted, but only if the entity is also applying IFRS 15. The extent of the impact of the adoption of this standard has not yet been determined. INTERNAL CONTROL OVER FINANCIAL REPORTING AND DISCLOSURE CONTROLS AND PROCEDURES Our President and Chief Executive Officer and Chief Financial Officer designed or caused to be designed under their supervision, TeraGo's disclosure controls and procedures and internal control over financial reporting. TeraGo's disclosure controls and procedures are designed to provide reasonable assurance that material information relating to TeraGo is made known to management by others, particularly during the period in which the interim filings are being prepared and that information required to be disclosed by TeraGo in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation. TeraGo's disclosure controls and procedures includes controls and procedures designed to ensure that information required to be disclosed by TeraGo in its annual filings, interim filings or other reports filed or submitted under securities legislation is accumulated and communicated to management, as appropriate to allow timely decisions regarding required disclosure. TeraGo's internal control over financial reporting are designed to provide reasonable assurance regarding reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. TeraGo's internal control over financial reporting includes those policies and procedures that: (i) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of TeraGo; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of TeraGo are being made only in accordance with authorizations of management and directors of TeraGo; and (iii) are designed to provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of TeraGo's assets that could have a material effect on TeraGo's financial statements. The control framework used to design TeraGo's internal control over financial reporting is based on the Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO 2013). Due to its inherent limitations, internal control over financial reporting may not prevent or detect all misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may change. There were no changes in the Company's internal controls over financial reporting for the year ended December 31, 2016 that have materially affected or are reasonably likely to materially affect internal controls over financial reporting. Management has concluded that there are no material weaknesses relating to the design of TeraGo's internal controls over financial reporting as of December 31, 2016. Effective September 30, 2016, Antonio (Tony) Ciciretto was appointed as President and CEO of the Company. Effective September 30, 2016, Stewart Lyons (President and CEO) was no longer with the Company. Effective October 13, 2016, Michael Stephens (Vice President, Marketing) was no longer with the Company. Effective December 8 2016, Ryan Lausman (Chief Operating Officer) was no longer with the Company. Effective February 1, 2017, Ron Perrotta joined the Company as Vice President, Marketing & Strategy. Mr. Perrotta previously provided consulting services to the Company on an interim basis. Cost of services consists of expenses related to delivering service to customers and servicing the operations of our networks. These expenses include costs for the lease of intercity facilities to connect our cities, internet transit and peering costs paid to other carriers, network real estate lease expense, spectrum lease expenses and lease and utility expenses for the data centres and salaries and related costs of staff directly associated with the cost of services. Gross profit margin % consists of gross profit margin divided by revenue where gross profit margin is revenue less cost of services. Other operating expenses includes sales commission expense, advertising and marketing expenses, travel expenses, administrative expenses including insurance and professional fees, communication expenses, maintenance expenses and rent expenses for office facilities. Foreign exchange gain (loss) relates to the translation of monetary assets and liabilities into Canadian dollars using the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in net income in the period. Finance costs consist of interest charged on our short- and long-term debt, amortization of deferred financing costs including expenses associated with closing our long-term debt facility and accretion expense on the Company's decommissioning and restoration obligations. The deferred financing costs are amortized using the effective interest method over the term of the loan. Finance income consists of interest earned on our cash and cash equivalent and short-term investment balances. Earnings (loss) from operations exclude foreign exchange gain (loss), income taxes, finance costs and finance income. We include earnings (loss) from operations as an additional GAAP measure in our consolidated statement of earnings. We consider earnings (loss) from operations to be representative of the activities that would normally be regarded as operating for the Company. We believe this measure provides relevant information that can be used to assess the consolidated performance of the Company and therefore, provides meaningful information to investors. The term "EBITDA" refers to earnings before deducting interest, taxes, depreciation and amortization. The Company believes that Adjusted EBITDA is useful additional information to management, the Board and investors as it provides an indication of the operational results generated by its business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and amortization and it excludes items that could affect the comparability of our operational results and could potentially alter the trends analysis in business performance. Excluding these items does not necessarily imply they are non-recurring, infrequent or unusual. Adjusted EBITDA is also used by some investors and analysts for the purpose of valuing a company. The Company calculates Adjusted EBITDA as earnings before deducting interest, taxes, depreciation and amortization, foreign exchange gain or loss, finance costs, finance income, gain or loss on disposal of network assets, property and equipment, stock-based compensation and restructuring, acquisition-related and integration costs. Investors are cautioned that Adjusted EBITDA should not be construed as an alternative to operating earnings or net earnings determined in accordance with IFRS as an indicator of our financial performance or as a measure of our liquidity and cash flows. Adjusted EBITDA does not take into account the impact of working capital changes, capital expenditures, debt principal reductions and other sources and uses of cash, which are disclosed in the consolidated statements of cash flows. Adjusted EBITDA does not have any standardized meaning under GAAP. TeraGo's method of calculating Adjusted EBITDA may differ from other issuers and, accordingly, Adjusted EBITDA may not be comparable to similar measures presented by other issuers. See "Results of Operations - Adjusted EBITDA" for reconciliation of net loss to Adjusted EBITDA.


VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 8, 2016) - Torino Power Solutions Inc. (CSE:TPS)(CSE:TPS.CN) (the "Company" or "Torino"), is pleased to report that it has completed all the procedural and specifications requirements for the Industry Canada (IC) Certification of its Power Line Monitoring (PLM) system. Industry Canada issued a grant of equipment authorization to Torino Power Solutions Inc. to operate its Power line monitoring system within a specified radio frequency band. The Torino equipment has also received certification under Federal Communication Commission (FCC) part 15C as previously announced on October 18, 2016. Torino's real-time Power Line Monitoring system provides a major advance in enabling electric utilities to maximize the capacity of their power transmission lines. Without real-time information, utilities must use historical, ambient, or "static" temperature data to make their transmission capacity decisions and cannot react to local events and current weather conditions. "This is an important accomplishment in the Company's commercialization of the Torino PLM system. The ability to operate the system at low power, gives the Torino system an advantage over the incumbent Technologies," said Rav Mlait, the CEO of Torino. Please visit www.torinopower.com for more information. On behalf of the Board of Directors The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as final development of a commercial product(s), successful trial or pilot of company technologies, no assurance that commercial sales of any kind actually materialize; no assurance the Company will have sufficient funds to complete product development. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks regarding protection of proprietary technology; (iii) the ability of the Company to complete financings; (v) the ability of the Company to develop and market its future product; and (vi) risks regarding government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that the DTCR business will provide any benefit to the Company, and no assurance that any proposed new products will be built or proceed. There is no assurance that existing "patent pending" technologies licensed by the Company will receive patent status by regulatory authorities. The Company is not currently selling commercial DTCR systems. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.


News Article | November 8, 2016
Site: www.prweb.com

Briowireless Inc., a leading manufacturer of Internet-of-Things (IoT) wireless cellular devices is proud to announce the launch of its line of BitPipe™ IoT Interface PTCRB certified industrial grade socket modems. “There’s a fast growing demand from OEM’s, developers and start-ups for efficient and industry compliant IoT cellular connectivity solutions. In response to this demand, we are very proud to launch our new line of BitPipe™ IoT Interface modems supporting 2G/3G fallback and LTE-Cat 1 4G/3G fallback cellular technologies,” says Eric Janosz, Briowireless CEO. The Bitpipe™ IoT Interface with its family of compact cellular Socket Modems allows you to reduce R&D costs and accelerate time to market of your IoT solutions. Out of the box, they incorporate everything a developer needs to provide IoT cellular connectivity including an industry certified cellular radio, DC-DC converter, digital and analog inputs & outputs, serial communications and software API. The BitPipe™ IoT Interface support numerous cellular networks including 2G/3G and 3G/4G-LTE. Their form factor and electronic interface have been standardized by Briowireless to provide inter-changeability, flexibility and versatility, therefore protecting the IoT solution providers’ investment for future connectivity requirements. In addition of being PTCRB certified and compliant to FCC and Industry Canada standards, the BP32G and LTE BP43G BitPipe™ modems have been granted Network Compatibility Approval (NCA) by AT&T and other Canadian mobile network carriers. Additional details on product availability, pricing and engineering services are available on the Briowireless website, http://www.briowireless.com.


News Article | February 15, 2017
Site: www.prweb.com

Whenever reporters capture feel-good stories of couples who have celebrated 50 years of marriage (or more), they always ask the same question: “What is the key to a long, happy marriage?” And nearly every time, the happy couple offers the same age-old wisdom, like not going to bed angry, working out differences, knowing how to pick battles, and knowing when to let things go. The belief that it’s healthy to argue seems counterintuitive, but research from Queendom.com and PsychTests.com reveals that this theory isn’t fluff. In fact, just like candy hearts, the sweetly appealing demeanor of people who never argue may belie a belly full of unsavory, pent-up emotions. Analyzing data from over 22, 000 people who took their Interpersonal Communication Skills Test, researchers at Queendom and PsychTests compared people based on how frequently they argue with their partner. Not surprisingly, people who argued more frequently (a few times a day or week) had more deficient communication skills. Although there weren’t very many differences between groups in terms of good communication habits, there were pronounced contrasts among the groups in terms of deficient or destructive arguing tactics. Here are the results for each group in terms of communication problems: In terms of good communication habits, here’s how each group fared: “One would assume that a person who never gets into arguments must have great communication skills and an abundant amount of patience – but this isn’t always the case,” explains Dr. Jerabek, president of PsychTests. “What makes a relationship work is the willingness to confront and openly hash out issues – even if that turns into a full-blown argument. This isn’t to say that the solution is to yell at each other until you’re blue in the face. It means allowing the other person to have their say, listening objectively without interrupting or judging, criticizing the behavior and not the person, and continuously working toward compromise – which could mean that the argument may not necessarily be resolved in one sitting. While this may be uncomfortable for many couples, it’s not as unpleasant as bottling up frustrations until you explode. And pent-up emotions always find their way out eventually, whether through passive aggressive comments/behaviors, snide comments, smirks full of contempt, nitpicking little things, or simply blowing up at inopportune moments. And here’s a stat from our study that really drives the point home: When we asked each group how they would rate the quality of their romantic relationship, 60% of those who argue a few times a year rated their relationship as Good or Excellent, 9% as Satisfactory, and 31% as Poor or Very poor. Of the group that never argues, 56% rated their relationship as Good or Excellent, 10% as Satisfactory, and 34% as Poor or Very poor. These differences may seem minor, but they speak volumes about the benefits of arguing in relationships.” Here are some tips from the researchers at Queendom and PsychTests on how to fight fair: Want to assess your communication skills? Check out http://www.queendom.com/tests/take_test.php?idRegTest=2288 Professional users of this test can see a sample of the Communication Skills Assessment report: http://hrtests.archprofile.com/sample_comsa Request a free demo of this test and any other assessments from ARCH Profile’s extensive battery: http://hrtests.archprofile.com/testdrive_gen_1 To learn more about psychological testing, download this free eBook: Spotting Diamonds in the Rough. (http://hrtests.archprofile.com/personality-tests-in-hr) About Queendom.com Queendom.com is a subsidiary of PsychTests AIM Inc. Queendom.com is a site that creates an interactive venue for self-exploration with a healthy dose of fun. The site offers a full range of professional-quality, scientifically-validated psychological assessments that empower people to grow and reach their real potential through insightful feedback and detailed, custom-tailored analysis. About PsychTests AIM Inc.: PsychTests AIM Inc. originally appeared on the internet scene in 1996. Since its inception, it has become a pre-eminent provider of psychological assessment products and services to human resource personnel, therapists, academics, researchers and a host of other professionals around the world. PsychTests AIM Inc. staff is comprised of a dedicated team of psychologists, test developers, researchers, statisticians, writers, and artificial intelligence experts (see ARCHProfile.com). The company’s research division, Plumeus Inc., is supported in part by Research and Development Tax Credit awarded by Industry Canada.


News Article | October 31, 2016
Site: www.prweb.com

With notions like “women’s intuition” and “old wives’ tales,” it’s almost as if women were fated to be intertwined with the paranormal. Even the senseless and misguided witch hunts that plagued Europe and America during the 15th to 18th century targeted women almost exclusively. In modern times, research by Queendom.com and Psychtests.com reveal that although superstitions have tapered off, women are still more likely than men to believe that there is more to this world than meets the eye. Collecting data from 11,377 people who took their Paranormal Beliefs Test, researchers at Queendom compared women’s and men’s beliefs in paranormal phenomenon like witchcraft, aliens, ghosts and folklore. In some cases, the differences were quite staggering. Women were more likely to believe in notions like fate and karma as well as psychic phenomenon, while men limited their beliefs to more scientifically based unknowns. For example: Surprisingly, an equal amount of men and women believe in the Loch Ness monster (36%), and that the world will end in an apocalypse of Biblical proportions (21%). “Men tend to lean more toward phenomena that can be measured or observed scientifically,” explains Dr. Jerabek, president of PsychTests, the parent company of Queendom. “Even if images of Yeti or UFOs are suggestively blurry, many still believe that it’s only a matter of time before proof is found. In contrast, women’s beliefs in the paranormal are more likely to revolve around romantic notions, like fate and destiny, and the possibility of moving beyond the veil of death. In fact, 70% of the women in our study believe that two people who are meant to be together will be, while less than half of the men believe this to be the case. Women tend to be more open-minded in general, willing to stretch their mind beyond the seemingly impossible. They are also more likely to trust and listen to their intuition.” Want to assess your paranormal beliefs? Check out http://www.queendom.com/tests/take_test.php?idRegTest=710 Request a free demo for a variety of assessments from ARCH Profile’s extensive battery: http://hrtests.archprofile.com/testdrive_gen_1 To learn more about psychological testing, download this free eBook: Spotting Diamonds in the Rough. (http://hrtests.archprofile.com/personality-tests-in-hr) About Queendom.com Queendom.com is a subsidiary of PsychTests AIM Inc. Queendom.com is a site that creates an interactive venue for self-exploration with a healthy dose of fun. The site offers a full range of professional-quality, scientifically validated psychological assessments that empower people to grow and reach their real potential through insightful feedback and detailed, custom-tailored analysis. About PsychTests AIM Inc. PsychTests AIM Inc. originally appeared on the internet scene in 1996. Since its inception, it has become a pre-eminent provider of psychological assessment products and services to human resource personnel, therapists, academics, researchers and a host of other professionals around the world. PsychTests AIM Inc. staff is comprised of a dedicated team of psychologists, test developers, researchers, statisticians, writers, and artificial intelligence experts (see ARCHProfile.com). The company’s research division, Plumeus Inc., is supported in part by Research and Development Tax Credit awarded by Industry Canada.


News Article | November 26, 2016
Site: www.prweb.com

Some employees look great on paper. They’re accomplished, well-educated, and have all the technical skills needed to do the job. But “vindictiveness” and “deception” won’t be listed under their job skills; “disdain for rules” won’t be covered in their accomplishments; and “antagonist” will not be in their job title. Employees with a toxic personality may be hard to spot in an interview, but a study conducted by PsychTests indicates that there are certain core traits that toxic employees tend to display that can make the office a very unpleasant environment. Analyzing data from 997 people who took their Integrity and Work Ethics Test, researchers at PsychTests looked at the most prominent traits that set toxic people apart from the rest of the population. Among the 17 traits assessed, these are the top six most toxic characteristics: Cunningly opportunistic, toxic individuals will immediately seize the chance to take advantage of a situation or a person (especially if they are vulnerable). Every move and decision they make is carefully planned, like a play in chess. Toxic employees will only help others if it benefits them in some way. Not only are toxic employees more likely to hold grudges, they are unlikely to let slights or transgressions committed against them go unpunished. They may even go out of their way to get back at someone who wronged them, like a colleague who is competing with them for a promotion, or a manager who gives them a bad performance review. Toxic employees can influence people to achieve their own ends by preying on their weaknesses or toying with their emotions. They are not opposed to using guilt-tripping, intimidation or downright blackmail to achieve what they desire. Toxic individuals often take pleasure in seeing others fail, especially enemies or competitors. They feel vindicated when someone who has wronged or crossed them gets a taste of their own medicine or becomes a victim of misfortune. Toxic employees have little sympathy for people who don’t think for themselves and who believe everything they hear. And given their opportunistic nature, toxic individuals may be more likely to take advantage of people who can be easily fooled. In their view, “the fools” had it coming or are basically asking to be exploited. Toxic employees tend to dislike overly emotional people, and often interpret a lack of emotional discipline as a sign of weakness. Toxic managers may have little sympathy for employees who are going through a difficult time or struggling with a challenging project. “With more and more companies adopting a “no reference” policy, it can be difficult to get a clear picture of what an employee is really like. Accomplishments and good grades may indicate ambition and discipline, for example, but they won’t tell you whether a person is tactful, kind, or a team player,” explains Dr. Jerabek, president of PsychTests. “This means that employees with problematic and toxic traits will slip through the cracks. Companies will only find out how detrimental a person is to team morale and camaraderie once this individual starts working with other people. It may take months for someone to show their true colors, as people tend to be on their best behavior for a few months after being hired. It takes a number of incidents before people really cue in – and even then, management may fail to take action until other staff members file a complaint, especially if they turn in excellent work. But while toxic employees may still get work done well, they affect the atmosphere of the entire team … their colleagues’ focus often shifts from performance and quality control to licking their wounds and airing their grievances. The cost of toxic attitudes and behaviors is tremendous.” Want to assess your level of honesty and integrity? Go to http://testyourself.psychtests.com/testid/3977 Professional users of this test can see a sample of the Work Integrity test report: WINS (Work Integrity Screening) Request a free demo of this test and any other assessments from ARCH Profile’s extensive battery: http://hrtests.archprofile.com/testdrive_gen_1 To learn more about psychological testing, download this free eBook: Spotting Diamonds in the Rough. (http://hrtests.archprofile.com/personality-tests-in-hr) About PsychTests AIM Inc. PsychTests AIM Inc. originally appeared on the internet scene in 1996. Since its inception, it has become a pre-eminent provider of psychological assessment products and services to human resource personnel, therapists, academics, researchers and a host of other professionals around the world. PsychTests AIM Inc. staff is comprised of a dedicated team of psychologists, test developers, researchers, statisticians, writers, and artificial intelligence experts (see ARCHProfile.com). The company’s research division, Plumeus Inc., is supported in part by Research and Development Tax Credit awarded by Industry Canada.

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