TrustBIX Inc. Announces September 30, 2024 Year End Financial Results
TrustBIX Inc. (TSXV: TBIX) has released its financial results for the fiscal year ended September 30, 2024. The company demonstrated significant improvement in its financial performance through operational streamlining and expense reduction:
Key financial highlights include:
- Net loss decreased by 76.9% to $710,765 (from $3,073,808 in 2023)
- Cash used in operations improved by 83.8% to $103,396 (from $639,944 in 2023)
- Revenue declined by 25.9% to $1,577,985 (from $2,128,401 in 2023)
- Operating expenses reduced by 51.3% to $2,161,181 (from $4,435,699 in 2023)
The company's subsidiary, Alberta Food Security, secured over $5,000,000 in contracts for indoor farming technology, though manufacturing challenges have delayed delivery and revenue recognition to 2025.
TrustBIX Inc. (TSXV: TBIX) ha pubblicato i risultati finanziari per l'anno fiscale conclusosi il 30 settembre 2024. L'azienda ha dimostrato un significativo miglioramento delle performance finanziarie grazie a una razionalizzazione operativa e una riduzione delle spese:
Le principali evidenze finanziarie includono:
- La perdita netta è diminuita del 76,9% a $710,765 (rispetto a $3,073,808 nel 2023)
- Il cash flow utilizzato per le operazioni è migliorato dell'83,8% a $103,396 (rispetto a $639,944 nel 2023)
- Il fatturato è calato del 25,9% a $1,577,985 (rispetto a $2,128,401 nel 2023)
- Le spese operative sono state ridotte del 51,3% a $2,161,181 (rispetto a $4,435,699 nel 2023)
La sussidiaria dell'azienda, Alberta Food Security, ha ottenuto contratti per oltre $5,000,000 per la tecnologia di agricoltura indoor, sebbene le sfide nella produzione abbiano ritardato la consegna e il riconoscimento dei ricavi fino al 2025.
TrustBIX Inc. (TSXV: TBIX) ha publicado sus resultados financieros para el año fiscal que terminó el 30 de septiembre de 2024. La empresa mostró una mejora significativa en su desempeño financiero a través de la optimización operativa y la reducción de gastos:
Los puntos destacados financieros incluyen:
- La pérdida neta disminuyó un 76.9% a $710,765 (desde $3,073,808 en 2023)
- El efectivo utilizado en operaciones mejoró un 83.8% a $103,396 (desde $639,944 en 2023)
- Los ingresos cayeron un 25.9% a $1,577,985 (desde $2,128,401 en 2023)
- Los gastos operativos se redujeron un 51.3% a $2,161,181 (desde $4,435,699 en 2023)
La subsidiaria de la empresa, Alberta Food Security, aseguró contratos por más de $5,000,000 para tecnología de agricultura en interiores, aunque los desafíos en la fabricación han retrasado la entrega y el reconocimiento de ingresos hasta 2025.
TrustBIX Inc. (TSXV: TBIX)는 2024년 9월 30일로 종료된 회계연도의 재무 결과를 발표했습니다. 회사는 운영 효율화와 비용 절감을 통해 재무 성과에서 상당한 개선을 보였습니다:
주요 재무 하이라이트는 다음과 같습니다:
- 순손실이 76.9% 감소하여 $710,765에 달했습니다 (2023년의 $3,073,808에서 감소)
- 운영에서 사용된 현금이 83.8% 개선되어 $103,396에 달했습니다 (2023년의 $639,944에서 개선)
- 수익이 25.9% 감소하여 $1,577,985에 달했습니다 (2023년의 $2,128,401에서 감소)
- 운영비용이 51.3% 감소하여 $2,161,181에 달했습니다 (2023년의 $4,435,699에서 감소)
회사의 자회사인 Alberta Food Security는 실내 농업 기술 계약을 위해 $5,000,000 이상의 계약을 확보했으나 제조상의 어려움으로 인해 2025년까지 납품 및 수익 인식이 지연되었습니다.
TrustBIX Inc. (TSXV: TBIX) a publié ses résultats financiers pour l'exercice fiscal se terminant le 30 septembre 2024. L'entreprise a montré une amélioration significative de sa performance financière grâce à une rationalisation opérationnelle et à une réduction des coûts :
Les principaux points financiers incluent :
- La perte nette a diminué de 76,9 % pour atteindre 710 765 $ (contre 3 073 808 $ en 2023)
- La trésorerie utilisée dans les opérations s'est améliorée de 83,8 % pour s'établir à 103 396 $ (contre 639 944 $ en 2023)
- Le chiffre d'affaires a diminué de 25,9 % pour atteindre 1 577 985 $ (contre 2 128 401 $ en 2023)
- Les charges d'exploitation ont été réduites de 51,3 % pour s'établir à 2 161 181 $ (contre 4 435 699 $ en 2023)
La filiale de l'entreprise, Alberta Food Security, a sécurisé pour plus de 5 000 000 $ de contrats pour des technologies d'agriculture en intérieur, bien que des défis de fabrication aient retardé la livraison et la reconnaissance des revenus jusqu'en 2025.
TrustBIX Inc. (TSXV: TBIX) hat seine finanziellen Ergebnisse für das zum 30. September 2024 endende Geschäftsjahr veröffentlicht. Das Unternehmen zeigte eine signifikante Verbesserung seiner finanziellen Leistung durch operative Straffung und Kostensenkung:
Wichtige finanzielle Höhepunkte sind:
- Der Nettoverlust sank um 76,9% auf $710,765 (von $3,073,808 im Jahr 2023)
- Der für den Betrieb genutzte Cashflow verbesserte sich um 83,8% auf $103,396 (von $639,944 im Jahr 2023)
- Der Umsatz ging um 25,9% auf $1,577,985 zurück (von $2,128,401 im Jahr 2023)
- Die Betriebskosten wurden um 51,3% auf $2,161,181 gesenkt (von $4,435,699 im Jahr 2023)
Die Tochtergesellschaft des Unternehmens, Alberta Food Security, sicherte sich Verträge über mehr als $5,000,000 für Technologien im Bereich Indoor Farming, obwohl Fertigungsschwierigkeiten die Lieferung und Umsatzrealisierung bis 2025 verzögert haben.
- Significant reduction in net loss by 76.9% to $710,765
- Operating expenses decreased by 51.3% to $2,161,181
- Cash burn from operations improved by 83.8%
- Secured $5,000,000+ in contracts for indoor farming technology
- Revenue declined by 25.9% to $1,577,985
- Manufacturing challenges causing delays in contract fulfillment
- Revenue recognition from $5M+ contracts delayed to 2025
Edmonton, Alberta--(Newsfile Corp. - January 27, 2025) - TrustBIX Inc. (TSXV: TBIX) ("TrustBIX" or the "Company") announced today financial results for the year ended September 30, 2024, and the related Management's Discussion and Analysis ("MD&A").
For the year ended September 30, 2024, compared to 2023, the Company successfully executed its multi-year strategy to streamline operations and reduce expenses:
- Net loss and comprehensive loss of
$710,765 , as compared to$3,073,808 in 2023, improved by$2,363,043 or76.9% ; - Cash used in operating activities of
$103,396 , as compared to$639,944 , improved by$536,548 or83.8% in 2023; - Revenue of
$1,577,985 , as compared to$2,128,401 in 2023, reduced by$550,416 or25.9% ; and - Operating expenses of
$2,161,181 , as compared to$4,435,699 in 2023, improved by$2,274,518 or51.3% .
"In 2024, Alberta Food Security received over
The Company's financial results for the year ended September 30, 2024, and the related MD&A, have been filed and are available on the System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca.
About TrustBIX (TSXV: TBIX)
TrustBIX is an agricultural technology company providing Gate to Plate® solutions to create a world where we trust more, waste less, and reward sustainable practices. Our award-winning technologies offer practical tools trusted by local and international agri-food organizations.
Forward-Looking Information
This press release contains certain forward-looking information and reflects the Company's present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words "may", "would", "could", "should", "will", "intend", "plan", "propose", "anticipate", "believe", "forecast", "estimate", "expect" and similar expressions used by any of the Company's management, are intended to identify forward-looking statements. Such statements reflect the Company's internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company's current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
Email: info@trustbix.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238660
FAQ
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