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Q4/FY 2022 Financial Highlights
- Total operating revenue was $271,000 for three months ended December 31, 2022, compared to $222,000 for the three months ended December 31, 2021, an increase of 22%.
- Total operating revenue for the twelve months ended December 31, 2022, was $0.9 million compared to $1.1 million for the same period in 2021.
- Total operating costs for three months ended December 31, 2022, was $485,000 compared to $324,000 for three months ended December 31, 2021.
- Total operating costs for the twelve months ended December 31, 2022, was $1.5 million compared to $1.5 million for the same period in 2021.
- Total net loss before taxes for the three months ended
December 31, 2022 , was$(216,000) compared to$(126,000) for the same period in 2021. - Total net loss before taxes for the twelve months ended
December 31, 2022 , was$(660,000) compared to$(366,000) for the same period in 2021. - As at
December 31, 2022 , the Company had a cash and cash equivalents of$206,000 compared to$212,000 as atDecember 31, 2021 .
This news release should be read in conjunction with
Certain information set out in this News Release constitutes forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "hope", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "scheduled", "believe" and similar expressions. The forward- looking information set out in this News Release relates to future events or our future performance and includes: (i) information concerning the positive effect of new leadership on revenue growth; (ii) the effect of broadening the Company's revenue streams on revenue growth and predictability; (iii) the Company's ability to succeed in the mobile advertising market by focusing on the underserved small and medium sized business market.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. Forward-looking statements involve substantial known and unknown risks, uncertainties and other factors which cause actual results to vary from those express or implied by such forward looking statements. These statements should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved.
The forward-looking statements contained in this press release are made as of the date hereof and based on what management of the company believes are reasonable assumptions. The Company disclaims any intention or obligation to update or publicly revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws. Furthermore, the Company does not assume responsibility for the accuracy and completeness of the forward-looking statements set out in this news release. The Company's forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements.
The CSE has not reviewed, approved or disapproved the content of this press release.
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