ZTEST ELECTRONICS INC - ZTSTF STOCK NEWS

ZTEST Electronics Inc. achieves record revenue and net income for the six-month period ending December 31, 2023, with revenue reaching $4,339,403, a notable 88% year-over-year increase. Net income for the period was $676,213, compared to a loss of $221,992 in the previous year. EBITDA also saw substantial growth, reaching $940,687. The Company plans to enhance its production capabilities by acquiring new machinery, expected to be operational by the final quarter of 2024.

ZTEST Electronics Inc. (ZTE) settles $357,490 of debt with insiders, issuing 4,468,625 common shares at $0.08 per share. President and CEO, Steve Smith, acquires 2,875,000 common shares, increasing his ownership to 12.67% on a non-diluted basis.

ZTEST Electronics Inc. announces debt settlement of $357,490 with insiders and one other creditor. The settlement involves the issuance of 4,468,625 common shares at a price of $0.08 per share. Steve Smith, President, CEO, and a director of the company, will acquire 2,875,000 common shares.

ZTEST Electronics Inc.'s subsidiary, Permatech Electronics Corporation, achieved record revenue of $5.7 million, a 29% increase from the prior year. Net income for the fiscal year was $478,080, compared to a loss of $30,319 in 2022. EBITDA for the fiscal year was $813,679, a notable increase from $257,193 in the prior year. The company is well positioned for continued growth.

ZTEST Electronics Inc. has appointed Suren Jeyanayagam as the new President of its subsidiary Permatech Electronics Corp. following the retirement of John Perreault. Jeyanayagam brings 25 years of experience at Permatech, including his recent role as Vice President of Manufacturing. The transition is expected to be smooth, as Perreault has been training Jeyanayagam for this leadership position. This change aims to ensure continuity and stability in Permatech's operations in electronic manufacturing services.

ZTEST Electronics Inc. announced the re-election of its Board of Directors and the re-appointment of its auditors at the annual shareholder meeting held on September 30, 2022. The company also granted 1,275,000 stock options to its directors and officers, exercisable at $0.10 per share for a period of five years. ZTEST operates through its subsidiary, Permatech Electronics Corp., providing electronic manufacturing services from its 20,000 sq ft facility in Ontario, Canada, catering to various industrial sectors.

ZTEST Electronics has completed the acquisition of an additional 2.1% interest in Conversance Inc., bringing its total ownership to 27.39%. The purchase involved the issuance of 1,250,000 Convertible First Preferred Shares Series 2, convertible into common shares upon a specific investment trigger by June 30, 2022. If the trigger isn't met, the Preferred Shares are redeemable for $1.00. Additionally, ZTEST secured an extension to acquire 75,000 Class A Common Shares of Conversance for $1 million by June 30, 2023.

ZTEST Electronics Inc. announced an agreement to acquire an additional 25,000 Class A Common Shares of Conversance Inc., increasing its equity interest to 27.39%. This purchase will be made through the issuance of 1,250,000 Convertible First Preferred Shares Series 2, convertible into common shares if a specified Triggering Event occurs by June 30, 2022. ZTEST also received an extension until June 30, 2023, to acquire an additional 75,000 shares of Conversance for $1 million. The completion of these transactions is contingent upon regulatory filings.