Cleartronic, Inc. Announces 2021 Financial Results

Rhea-AI Summary

Cleartronic, Inc. (CLRI) announced its financial results for Q4 and the year ended September 30, 2021. The company demonstrated consistent profitability, with a 19% increase in sales of its ReadyOp platform and a 57% profit increase from Continuing Operations, despite challenges posed by the COVID-19 pandemic. CEO Marc Moore emphasized the expansion of their customer base and financial strength, highlighting gains in cash and assets while minimizing debt. The complete 10-K report is available on the SEC EDGAR Platform.

Positive

• 19% increase in sales of ReadyOp platform.
• 57% profit increase from Continuing Operations.

Negative

• None.

BOCA RATON, Fla., Jan. 13, 2022 (GLOBE NEWSWIRE) -- Cleartronic, Inc. (CLRI: OTCPINK) released its 2021 fourth quarter, and year-end financial statements for the twelve months ended September 30, 2021. CLRI continues to show consecutive quarters and two years of continued profitability.

Marc Moore, CEO of Cleartronic (the “Company”) stated, “We continue to be very pleased to demonstrate disciplined consistent growth and profitability with the expansion and utilization of our ReadyOp platform, especially during the current and prior periods of reduced and unstable economic activities nationwide due to the COVID-19 pandemic that impacts our nation. Through these economic issues, Cleartronic and ReadyOp continued to expand their customer base with new businesses and governmental agencies, showing their heightened interests in our ReadyOp software platform and the platforms’ ease in adjusting to current priorities and requests from our varied customers for immediate solutions. We are seeing an increase in the number of new customers as well as growth in the use of ReadyOp by our current customers. We also focused this past year on strengthening our balance sheet where we made excellent gains in increasing cash and assets while reducing debt.”

Highlights of the Year End 2021 performance included an increase of 19% in the Company’s main product, ReadyOp, and an increase in profit from Continuing Operations of 57% despite the impact of the ongoing COVID-19 pandemic effect on sales and marketing efforts.

The full 10-K report for the twelve months ended September 30, 2021, can be viewed on the US SEC EDGAR Platform: www.sec.gov/edgar.shtml

About Cleartronic, Inc.

Cleartronic, Inc. (CLRI:OTCPINK), a diversified holding company, creates and acquires operating subsidiaries with the intended goal of manufacturing and selling products, services, and integrated systems to governmental agencies, private and not-for-profit business enterprises, as well as the general public. In addition to its ongoing projects, Cleartronic continues its endeavors in research and development of new and expanded projects to support its overall service components, while operating and concentrating on its main operating subsidiary ReadyOp Communications, Inc. - www.cleartronic.com & www.readyop.com.

Safe Harbor Statement

This new release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties so that actual results may vary materially. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements because of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Cleartronic, Inc. Contact and Inquiries for Investor Relations:
Larry Reid
(561) 939-3300 Ext. 143

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6b78de86-d7fe-4270-a54b-f5e877194ba1

FAQ

What were Cleartronic's financial results for 2021?

Cleartronic reported a 19% increase in sales of its ReadyOp platform and a 57% profit increase from Continuing Operations for the year ended September 30, 2021.

How has COVID-19 affected Cleartronic's business?

Despite the challenges posed by COVID-19, Cleartronic continued to grow its customer base and maintain profitability.

Where can I find Cleartronic's 10-K report?

The complete 10-K report for Cleartronic is available on the SEC EDGAR Platform.

What is the performance of ReadyOp for Cleartronic in 2021?

ReadyOp saw a 19% increase in sales during 2021, reflecting strong demand.