COMPANY DESCRIPTION: Datable Technology Corporation is a Canadian-based software development and technology company operating in the consumer online advertising and marketing sectors. Datable offers a software as a service (“SaaS”) based Consumer Lifecycle and Data Management Platform called PLATFORM³ that enables consumer packaged goods (“CPG”) companies and consumer brands to build and launch promotions, special offers, and loyalty programs on mobile phones, websites, and microsites. Datable focuses on the collection and data mining of first-party data, information collected directly from consumers, and allows companies to communicate & build relationships directly with the consumers. (A) INVESTMENT HIGHLIGHTS: (1) First-party Data Key to Consumers as Governments Update Privacy Laws and Cookies Set to Disappear. With stricter online consumer privacy, first-party data (opt-in) solutions become key for engaging with online consumers and Datable’s solutions focus on the collection of first-party data directly from consumers when they register to receive promotions or join loyalty/reward programs. (2) Strong Organic Revenue Growth and Transformative Deal with Dabbl. Datable is in the early stage of an accelerated growth phase with revenue increasing by 91% Y/Y in Q3/2021. The acquisition of Dabbl creates a combined company that is expected to have 2021 pro-forma revenue of almost $6 million. (3) Strong Fortune 500 Customer Base. Datable currently working with 25 large CPG companies and 50 of the world’s “top brands”. (4) Low Valuation Multiple Compared to SaaS Peers. Datable is currently trading at 1.0x our 2022 (combined companies) revenue estimate of $9.9 million and well below Canadian SaaS comparable companies. Datable’s low revenue multiple highlights the potential for its share appreciation. (B) FINANCIAL ANALYSIS & VALUATION: (i) We estimate revenue as follows: 2021E (Datable): Revenue $3.0 million; 2022E:(Datable & Dabbl): Revenue $9.9 million. (ii) We estimate an equal-weighted price target of $0.30 based on a DCF valuation ($0.40/share) and a Revenue Multiple valuation ($0.20/share). (iii) We are Initiating Coverage on Datable with a Speculative Buy rating and one-year price target of $0.30/share.