Personas Provides Update Q1 Interim Financial Statement

Rhea-AI Summary

Personas Social announced its Q1 2024 financial results, reporting a net loss of $2,359 compared to a net income of $108,295 in Q1 2023. Expenses rose significantly from $396,451 to $531,447, primarily due to increased consulting costs. These figures are detailed in the company's financial statements and MD&A for the quarter ending March 31, 2024, both filed with SEDAR.

Positive

• The company's financial statements and MD&A for Q1 2024 have been filed, ensuring transparency.
• Detailed reporting of financial figures and expenses provides clarity for investors.

Negative

• The company reported a net loss of $2,359 for Q1 2024, down from a net income of $108,295 in Q1 2023.
• Expenses increased significantly from $396,451 to $531,447, mainly due to higher consulting costs.

Toronto, Ontario--(Newsfile Corp. - June 3, 2024) - Personas Social Incorporated (TSXV: PRSN) (the "Company") announces that the 2024 Quarter 1 consolidated financial statements ("Financial Statements") and Management's Discussion and Analysis ("MD&A") for the quarter ending ended March 31^st , 2024, have been filed with SEDAR.

The Company is proud to announce that the quarter ending ended March 31^st, 2024, incurred a net loss of $2,359 compared to net income of $108,295 for Q1 2023. Expenses increased from $396,451in 2023 to $531,447 in 2023. Increase in expenses are mainly due to additional consulting expenses.

Certain information provided in this news release is extracted from the Financial Statements and MD&A of the Company for the quarter ended March 31^st, 2024, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information.

For further information, please contact:
Personas Social Incorporated
Mark Itwaru
Chairman & Chief Executive Officer
647.789.0074
Mark Itwaru mark@personas.com

Forward-Looking Statements
This news release contains forward-looking statements relating to the expected timing of the filing of the Annual Filings. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are risks detailed from time to time in the filings made by the Corporation with securities regulations. Forward-Looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Corporation will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211384

FAQ

What was Personas Social's net income for Q1 2023?

Personas Social reported a net income of $108,295 for Q1 2023.

What was Personas Social's net loss for Q1 2024?

Personas Social reported a net loss of $2,359 for Q1 2024.

How much did Personas Social's expenses increase in Q1 2024?

Expenses increased from $396,451 in Q1 2023 to $531,447 in Q1 2024.

What caused the increase in Personas Social's expenses in Q1 2024?

The increase in expenses was mainly due to additional consulting costs.

Where can I find Personas Social's Q1 2024 financial statements?

The financial statements for Q1 2024 have been filed with SEDAR.