An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Avivagen Inc. Announces Results for the Second Quarter Ending April 30, 2022
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) reported its financial results for Q2 2022, showing net revenues of $88,438, a significant decline from $159,614 in Q2 2021. The comprehensive loss decreased to $(1,303,677) from $(2,197,649) year-over-year. As of April 30, 2022, total assets stood at $3,013,537, with liabilities at $6,907,179, resulting in a shareholder deficit of $(3,893,642). The company continues to focus on its OxC-beta™ technology, promoting non-antibiotic growth solutions for livestock.
Positive
Comprehensive loss reduced from $(2,197,649) in Q2 2021 to $(1,303,677) in Q2 2022.
Total assets reported at $3,013,537, indicating a stable asset base.
Negative
Net revenues dropped from $159,614 in Q2 2021 to $88,438 in Q2 2022.
Total liabilities of $6,907,179 exceed total assets, indicating potential financial strain.
Shareholders face a deficit of $(3,893,642), highlighting financial vulnerability.
OTTAWA, Ontario--(BUSINESS WIRE)--
Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, has announced its unaudited financial results for the Second quarter of 2022.
Second Quarter April 30, 2022, Financial Results
The Company’s unaudited Financial Statements for the second quarter ended April 30, 2022, and the accompanying Management’s Discussion and Analysis have been filed on the System for Electronic Document Analysis and Retrieval and are available via its website (www.sedar.com). The financial information for the second quarter ended April 30, 2022, should be read in conjunction with the Company’s unaudited Financial Statements as well as its Management’s Discussion and Analysis for the second quarter ended April 30, 2022
The Company reported net revenues of $88,438 (compared to $159,614 in the quarter ending April 30, 2021) and a comprehensive loss of $(1,303,677) for the quarter ending April 30, 2022. This compares to a comprehensive loss in the quarter ending April 30, 2021, of $(2,197,649). As at April 30, 2022, the Company reported total assets of $3,013,537 (current assets of $2,878,566), total liabilities of $6,907,179, and shareholders’ deficit of ($3,893,642).
About Avivagen Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance. It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.
About OxC-beta™ Technology and OxC-beta™ Livestock
Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about β-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Mexico, Taiwan, New Zealand, Thailand, Brazil, Australia, and Malaysia.
Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.
Forward Looking Statements
This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “aim”, “anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”, “if”, “intend”, “goal”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions. Statements set out in this news release relating to Avivagen’s expectations as to future growth and results, the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as well as fill a critical need for health support in certain livestock applications where antibiotics are precluded are all forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Avivagen’s products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications and may not be widely accepted as a replacement for antibiotics in livestock feeds, in each case due to many factors, many of which are outside of Avivagen’s control. Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen’s most recent management’s discussion and analysis of financial condition available at www.SEDAR.com. Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
Neither 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 or accuracy of this release.
