AirTest Forecasts Improving Financials
Delta, British Columbia--(Newsfile Corp. - June 13, 2023) - ATI AirTest Technologies Inc. (TSXV: AAT) (OTC Pink: AATGF) ("AirTest" the "Company") CEO Ted Konyi is pleased to provide the following update on sales activities.
Since the beginning of the year and the addition of Lorne Stewart as President, the Company has focused significant effort on expanding its sales activities. Recently, the Company has added two additional sales agents, Chris Hampson to serve primarily the Ontario market and Todd Points, based in Idaho with a focus on US opportunities.
The previously announced initial install at a Toronto based specialty food store has proceeded as expected, proving the capability of the Company's IAQEye™️ wireless CO2 sensor. Additional installs are anticipated on the back of this success. Financial support for these installs is expected to be provided by both Save On Energy and Enbridge covering
The Ontario market should yield many additional sales opportunities for the Company. In the last few weeks, site surveys have been completed at a casino location in the GTA and a grocery store in the Vancouver area. The casino operator has over 30 locations across Canada, while the grocery store operations exceed 180 stores, primarily in Western Canada.
The Company has also been meeting with Save On Energy and Enbridge to secure further incentives for the installation of the Company's proprietary IAQEye™️.
In the US market, the Company has been supplying a national system integrator with CO2 sensors for refit of Lowe's stores. In addition, parking garage ventilation control systems have seen success on numerous projects and sales of the Company's new unique CO sensor which communicates digitally with all building management systems are also growing rapidly. Lastly, the Company has started to see some international sales activity including sales in the UK.
Ted commented further, "Although the most recent financials don't reflect this increased activity, I believe they soon will. In addition, cost cutting measures and increased margins, implemented at the beginning of April, should result in a substantial improvement in profitability for the second quarter. With additional sales initiatives planned for the balance of the year, the Company should show substantial improvement over previous periods. Lorne Stewart has been a breath of fresh air for the Company just as higher energy prices and ESG mandates are creating new demand for the Company's offering."
About AirTest: AirTest Technologies is a Green-Tech company specializing in Demand Control Ventilation systems that improve commercial building operating efficiency and generate proven energy savings. The Company has developed new wireless sensors with dynamic real-time communication and control technologies, which builds upon ten years of experience and thousands of installations amongst clients such as Lowe's, Shoppers Drug Mart and Ikea. Airtest solutions provide data on levels of Indoor Air Quality required by Schools, Retail Stores and Offices.
For further information, please contact:
Mr. Ted Konyi, CEO
Phone: (604) 225 2209
Fax: (604) 517 3900
Email: ted.konyi@airtest.com
Website: www.airtest.com
Legal Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements". Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as "expect", "anticipate", "intend", "plan", "believe", "estimate" and words of similar meaning. Forward-looking statements are based on management's current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include those concerning the Company's belief in the energy savings that can be achieved through installation of the Company's products and that these installations lead to reduced maintenance, downtime expenses, future cost savings, and improvements in the bottom line. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward-looking statements. Risks that may prevent or delay the forward-looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward-looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company's website, www.airtest.com.
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