LEGEND POWER SYS INC - LPSIF STOCK NEWS

Legend Power Systems reports financial results for Q2 F2023, with revenue of $74k, adjusted EBITDA loss of $1.04m, and net loss of $1.19m. Cash at $1.5m, no debt, and $3.15m in working capital. Green Proving Ground program proceeding well. Several customers report $2 of maintenance savings for every $1 of energy savings. Sales activity strong with potential bookings of over $10m. SmartGATE deployed in key commercial real estate verticals. Channel sales team growing reseller and ESCO relationships. Planning for increased capacity underway. Revenue for Q2 2023 at $74k compared to $343k in Q2 2022. Gross margin negative 7% compared to 17% in Q2 2022. Adjusted EBITDA loss of $1.04m compared to $1.32m loss in Q1 2022. Net loss of $1.19m compared to $1.48m loss in Q2 2022.

Legend Power Systems Inc. (TSXV:LPS) will present at the Planet MicroCap Showcase: VIRTUAL 2022 on December 7, 2022, at 8:00 AM ET. CEO Randy Buchamer will discuss the company's SmartGATE solutions, focusing on opportunities with commercial real estate operators and government agencies. He highlighted a strong sales pipeline and improved supply chain. Interested investors can register for the event online for live access and future webcasts. Legend Power specializes in energy management, promoting sustainability and efficiency.

Legend Power Systems Inc. reports Q3 F2022 financial results, revealing a revenue of $1.03 million, an increase from $343,000 in Q2 F2022 but down from $1.27 million in Q3 F2021. Adjusted EBITDA loss worsened to $1.24 million, up from $706,000 a year ago. Net loss also increased to $1.49 million from $946,000. The company reduced annual costs by $1 million and launched a new Partner Portal. Cash on hand is $4.68 million with no debt. Management plans to capitalize on a strong sales pipeline despite ongoing supply chain issues.

Legend Power Systems Inc. (LPSIF) will release its Q3 2022 financial results on August 25, 2022. The announcement follows a nine-month period ending June 30, 2022. A conference call to discuss the financial results and provide a business update is also scheduled for the same day at 4:00 PM ET, hosted by CEO Randy Buchamer. The call can be accessed through a toll-free number or online. Legend Power focuses on intelligent energy management solutions that enhance corporate performance and asset management.

Legend Power Systems (TSXV:LPS) has been selected to provide SmartGATE Systems for evaluation by the U.S. General Services Administration (GSA) as part of its Green Proving Ground program. This initiative aims to assess innovative technologies in about 1,800 federal buildings to enhance energy efficiency and reduce operational costs. SmartGATE technology, which identifies underperformance in electrical systems, is also being evaluated in New York's IDEA program. The partnership includes collaboration with the U.S. Department of Energy and Oakridge National Laboratory.

Legend Power Systems has approved the grant of 1,250,000 stock options to acquire common shares, pending TSX Venture Exchange approval.

Of these, 600,000 were granted to executive officers, exercisable until June 13, 2027, at a price of $0.185 per share. The options will vest in installments over time.

This move aims to strengthen the company's management incentives and aligns with its focus on providing intelligent energy management solutions that reduce energy consumption and support corporate sustainability efforts.

Legend Power Systems (OTCQB:LPSIF) reported Q2 F2022 financial results with revenue dropping to $343K from $482K in Q2 F2021. The net loss expanded to $1.48M, up from $983K year-over-year. Adjusted EBITDA loss increased to $1.32M. The company maintained $6.03M in cash, with no debt. Challenges included delayed product deliveries, supply chain issues, and higher operational costs. In response, Legend launched new partner initiatives and improved its SmartGATE product line.