(via TheNewswire)
2023 Year-End Financial Highlights:
Revenue decreased 4% to
$1,076,861 for the year endedDecember 31, 2023 from$1,123,072 for the same period in 2022.Gross Profit decreased to 37% for the year ended
December 31, 2023 from 55% for the same period in 2022.Net loss increased 1,011% to
$18,495,121 for the year endedDecember 31, 2023 from$1,664,684 for the same period in 2022.Working capital decreased to 2,441,703 for
December 31, 2023 from$2,987,975 forDecember 31,2022 .Total assets decreased to
$36,801,368 forDecember 31, 2023 from$49,903,208 forDecember 31,2022 .Total shares outstanding as of
December 31, 2023 were 42,553,166 (223,964 post reverse split).
Summary of Quarterly Comparison of Revenue, Gross Profit and Net Loss
Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | |
Revenue | 205,121 | 202,058 | 251,047 | ||||
Gross Profit (Loss) | (56,711) | 72,085 | 66,239 | ||||
Net Loss | (15,167,579)* | (1,439,785) | (1,147,324) |
*Includes impairments of intangible assets and asset under construction in the amount of
Mr. Yftah Ben Yaackov, BYND’s CEO noted that “Despite the fact that the company went through a difficult year, starting with changes in the core areas of its activities in
About BYND Cannasoft Enterprises Inc.
BYND Cannasoft owns the patent-pending intellectual property for the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil, and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women's health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users' pleasure. The user can control the device through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (AI). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction. Commercialization of the EZ-G device is subject to receipt of regulatory approvals.
For further information please refer to information available on the Company’s website: www.cannasoft-crm.com, and on SEDAR+: www.sedarplus.ca.
Gabi Kabazo
Chief Financial Officer
Tel: (604) 833-6820
e‐mail: ir@cannasoft-crm.com
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain statements that may be deemed “forward-looking statements” within the meaning of Section 27A of the
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including future financial performance, unanticipated regulatory requests and delays, final patents approval, and those factors discussed in filings made by the company with the Canadian securities regulatory authorities, including (without limitation) in the company's management's discussion and analysis for the year ended
Copyright (c) 2024 TheNewswire - All rights reserved.
Copyright (c) 2024 TheNewswire - All rights reserved., source