LEGEND POWER SYS INC - LPSIF STOCK NEWS

Legend Power Systems reported Q4 F2024 financial results with revenue of $705,335, up 343% from $159,114 in Q4 F2023. The company posted a net loss of $832,475, improved from a $969,729 loss in Q4 F2023. Gross margin improved to 21% compared to negative 4% in the same quarter last year.

For the full fiscal year 2024, revenue reached $1,872,973, a 69% increase from $1,106,093 in 2023. The company maintained a strong financial position with no debt and $742,000 in working capital. Operating expenses decreased to $4,014,333 from $4,430,493 in the previous year due to cost-cutting measures. The company reported increased sales activity and engagement with commercial real estate firms, with over 196 buildings in active sales cycles for more than 400 potential SmartGATE units.

Legend Power Systems (TSXV: LPS) (OTCQB: LPSIF), a global leader in commercial electrical system solutions, has announced it will release its fiscal 2024 financial results for the year ended September 30, 2024, before market open on Friday, December 20, 2024. The company will host a webinar at 11:00 AM ET (8:00 AM PT) on the same day to discuss the results and provide a business update. The webinar will be hosted by Randy Buchamer, President and CEO, with a replay available on the company's website.

Legend Power Systems (TSXV: LPS) (OTCQB: LPSIF) has issued a clarification to retract a revenue projection statement from their December 3, 2024 corporate update. The company highlights progress across five strategic pillars: U.S. GSA Green Proving Ground Program, Department of Defense initiatives, Energy Performance Contracts, City of New York collaborations, and GSA Multiple Award Schedule.

Key developments include two SmartGATE system installations for GSA, a DoD letter of intent for 10 systems, successful ESCO partnerships, and involvement in NYC's US$4 billion school electrification initiative. The company reports record bookings, improving gross margins approaching 50%, and expects to achieve EBITDA-positive operations in 2025.

Legend Power Systems reports significant progress across five strategic pillars aimed at driving growth. The company highlights key developments including: participation in the U.S. GSA Green Proving Ground program with upcoming SmartGATE installations; a Department of Defense letter of intent for 10 SmartGATE systems; expanding presence in the Energy Performance Contracting market; deepening collaboration with New York City's electrification initiatives; and pending GSA Multiple Award Schedule designation. The company reports record-breaking bookings, improving gross margins approaching 50%, and projects achieving EBITDA-positive operations in 2025. Management forecasts potential annual revenue exceeding $100 million within 3-5 years.

Legend Power Systems announced the approval of 5,200,000 incentive stock options to acquire common shares, subject to TSX Venture Exchange acceptance. Of these options, 3,150,000 were granted to executive officers and the remainder to employees. The options are non-transferable, exercisable until November 5, 2029, at $0.22 per option, with vesting provisions.

Legend Power Systems Inc. (TSXV:LPS)(OTCQB:LPSIF), a leader in commercial electrical system solutions, announces CEO Randy Buchamer's participation in the Planet MicroCap Showcase: VANCOUVER 2024. Buchamer will present on September 25, 2024, at 10AM PT / 1PM ET and host investor meetings. The company highlights recent achievements, including a $3 million Letter of Intent from the Department of Defense, bringing total order visibility to $5.5 million. Legend Power also reports a 50% gross margin in their most recent quarter. The event provides an opportunity for current and potential investors to engage with the company's leadership and learn about its progress in active power management for commercial properties.

Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF) reported its Q3 F2024 financial results, showing significant improvements. Revenue increased 122% to $1.04 million compared to Q3 F2023. The company's gross margin improved to 50%, up from 22% in the same quarter last year. Net loss decreased by 53% to $482,386, while Adjusted EBITDA loss improved by 56% to $392,191.

Operational highlights include progress with the City of New York's DCAS IDEA program, advancement in the Green Proving Ground program for the U.S. General Services Administration, and a strong pipeline in government and commercial real estate sectors. The company reported $806,000 in cash, no debt, and $1.5 million in working capital as of June 30, 2024.

Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF), a leader in commercial electrical system solutions, has announced the release date for its Q3 2024 financial results. The company will publish its results for the nine months ended June 30, 2024, before the market opens on Friday, August 23, 2024. Additionally, Legend Power has scheduled a webinar for the same day at 11:00 AM ET (8:00 AM PT) to provide a business update and discuss the financial results.

The webinar will be hosted by Randy Buchamer, President and CEO of Legend Power. Interested parties can register in advance for the webinar, and a replay will be available on the company's website afterward.

Legend Power Systems has announced its largest order commitment in its history, securing a Letter of Intent (LOI) for 10 SmartGATE systems from the United States Department of Defense (US DoD). This deal is valued at nearly $3 million CAD. Combined with a previous order from the City of New York Public School System, the total bookings for the quarter exceed $3 million CAD. The DoD's key motivation is to improve facility operations due to power volatility issues affecting critical systems such as HVAC and refrigeration. The CEO of Legend Power Systems, Randy Buchamer, indicated that this order could lead to further opportunities with the DoD and other federal entities. This deal follows over 24 months of effort and extensive testing, validating the company's active power management solutions.