Legend Pwr Sys Inc - LPSIF STOCK NEWS

Legend Power Systems (OTCQB:LPSIF) has completed its first SmartGATE Insights installation outside the U.S. and Canada at a major building complex in Puerto Rico. The initiative is aimed at enhancing sustainability amidst challenges posed by renewable energy sources, which contribute over 50% of the complex's power. This engagement will identify operational issues affecting electrical systems, potentially optimizing performance amidst increasing use of wind and solar energy. Legend Power aims to leverage its SmartGATE technology to improve system reliability and financial outcomes for building owners.

Legend Power Systems Inc. (TSXV:LPS)(OTCQB:LPSIF) announced the approval for 1,100,000 incentive stock options for directors and an executive officer, pending TSX Venture Exchange acceptance. The options, priced at $0.32, vest over three years, with one-sixth vesting every six months. Legend Power specializes in intelligent energy management solutions aimed at reducing energy costs and enhancing sustainability in corporate settings. These options align with the company's commitment to improve corporate performance by optimizing energy usage.

Legend Power Systems (LPSIF) reported Q1 F2022 financial results, revealing a revenue decrease of 78% to $169k, down from $766k in Q1 F2021. Adjusted EBITDA loss widened to $1.00 million and net loss increased to $1.23 million, compared to $874k last year. Supply chain issues impacted product deliveries, but the company is set to ship its NextGen SmartGATE units in Q2 F2022. Despite these setbacks, customer feedback on initial deployments is positive, indicating potential for future growth.

Legend Power Systems (TSXV:LPS)(OTCQB:LPSIF) will release its Q1 2022 financial results on February 25, 2022, for the period ended December 31, 2021. A conference call, hosted by Randy Buchamer, is scheduled for the same date at 11:00 AM ET to discuss the results and provide a business update. Legend Power focuses on enhancing building energy management through its intelligent platform, aimed at improving corporate performance and asset management.

Legend Power Systems announced the successful installation of its first next-gen SmartGATE Platform, exceeding initial savings projections. Despite previous supply chain delays, the company is set to ship 20 units by the end of March 2022. The installed system is being monitored in real-time, showcasing the platform's advanced capabilities. Management is optimistic about future orders based on positive customer feedback and industry interest, while actively addressing component procurement challenges impacting earlier shipments.

Legend Power Systems Inc. (OTCQB:LPSIF) announces the appointment of Paul Moffat as Chief Operating Officer, effective February 14, 2022. Moffat brings over 20 years of experience in various industries including manufacturing and telecommunications, having held senior roles at Cadex Electronics and Blackberry. CEO Randy Buchamer expressed confidence in Moffat's ability to drive business profitability and growth. Legend Power specializes in intelligent energy management systems that enhance building energy efficiency and support corporate sustainability.

Legend Power Systems has announced the appointment of Florence Tan as the new Chief Financial Officer and Corporate Secretary effective January 11, 2022. Tan brings over 15 years of experience in accounting and financial management. The company expresses gratitude to departing CFO, Steve Vanry, acknowledging his six years of service. In connection with her appointment, Tan was granted 50,000 stock options at $0.30 per share, vesting over five years. This leadership change is expected to support Legend Power’s growth during an anticipated significant growth period.

Legend Power Systems (TSXV:LPS)(OTCQB:LPSIF) reported its fiscal 2021 financial results highlighting Q4 revenue of $193K, a decline from $347K in Q4 2020. The company's net loss for Q4 was $1.03M versus $769K in the previous year. Despite challenges, annual revenue increased 34% to $2.71M from $2.03M in 2020. The backlog of orders increased, but supply chain issues led to revenue delays. Adjusted EBITDA loss worsened to $1.02M in Q4. Management remains optimistic about future growth driven by new sales opportunities and government approvals.

Legend Power Systems Inc. (TSX.V:LPS)(OTCQB:LPSIF) has announced the release of its fiscal 2021 financial results on December 22, 2021, following the end of the fiscal year on September 30, 2021. The Company will host a conference call on the same day at 11:00 AM ET to discuss these financial results and provide a business update. Key executives including Randy Buchamer, President & CEO, and Steve Vanry, CFO, will lead the call. Investors can access the call via a toll-free number or online listening.