EAC:CA

Earth Alive Reports Third Quarter Results

Earth Alive Clean Technologies Inc. (TSXV: EAC) ("Earth Alive" or the "Company"), a Canadian soil health company that develops and manufactures advanced microbial technology products, this morning reported results for the third quarter ended September 30, 2020. All financial information is in Canadian dollars unless otherwise noted.

Business Highlights

  • During the third quarter, four ea1™ trials were completed by Earth Alive customers in Brazil and Russia, with discussions towards commercialisation continuing with these customers.
  • In August 2020, Earth Alive received confirmation from the California Department of Food & Agriculture that it has approved Soil Activator® for sale in the state and new distributors in California have already begun to place orders for our product.
  • In September 2020, the Company received an order for approximately $140,000 of ea1 for a large-scale trial application in South Africa, the fourth such test by this customer and a key validation step towards becoming an important multi-site dust suppressant solution provider for this global mining group. The order is expected to ship before year-end.
  • In mid-October, the Company resumed ea1 shipments to its customer in Mexico.
  • During the fourth quarter, ea1 will be tested by two of the Company's customers in Chile.

Financial h ighlights of the Third Quarter Ended September 3 0 , 2020

  • Revenues for the quarter were $192,473, lower than the same period in 2019, primarily due to pandemic-related restrictions and operational curtailments at our main customers' sites, which resulted in delays to previously planned ea1™ commercial and testing activities.
  • Gross margin the three-month period increased to 30.3% compared to 20.8% in the same period last year, driven by improved pricing and a more favourable product mix in the Agriculture division.
  • Revenues increased by 39.0%, to $2,112,631 for the nine-month period ended September 30, 2020 compared to $1,520,060 for the same period in 2019.
  • Gross margin for the nine-month period increased to 30.0% in 2020 compared to 22.1% in the same period in 2019, primarily due to higher volumes and improved pricing in the Agriculture division.
  • As at September 30, 2020, Earth Alive had $1,661,955 in working capital with a cash balance of $1,319,788, compared to $2,480,449, and $2,302,106 as at December 31, 2019.

"While third quarter revenues were weaker than expected as the impact of the seasonal slowdown was compounded by various COVID-related issues affecting our customers, I am pleased to report that business activity has picked up since the end of September and that future prospects for the Company remain strong", said Michael Warren, President and Chief Executive Officer. "In fact, Earth Alive's fourth quarter results are expected to show a marked improvement compared to the third quarter, with revenues between $700,000 and $800,000 and gross margin as a percentage of revenues remaining consistent with recent levels".

Earth Alive Consolidated Financial Statements and Management's Discussion and Analysis for the third quarter ended September 30, 2020 are available on SEDAR at www.sedar.com and on our website at www.earthalivect.com .

About Earth Alive Clean Technologies

Earth Alive is a soil health company and an industry leader in microbial technologies. Earth Alive's innovative products contribute to regenerative agriculture, natural dust suppression with minimal water use and industrial cleaning that is ecological and human friendly. For additional information, please visit: www.earthalivect.com .

Forward-Looking Information : Certain information in this press release contains forward-looking information and forward-looking statements, which reflect the current view of management with respect to the Company's objectives, plans, goals, strategies, outlook, results of operations, financial and operating performance, prospects and opportunities. Wherever used, the words "may", "will", "anticipate", "intend", "estimate", "expect", "plan", "believe" and similar expressions identify forward-looking information and forward-looking statements. Forward-looking information and forward-looking statements should not be regarded as a guarantee of future events, performance or results, and will not necessarily be an accurate indication of whether, or the times at which, such events, performance or results will be achieved. All of the information in this press release containing forward-looking information or forward-looking statements is qualified by these cautionary statements. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and forward-looking statements and are cautioned not to place undue reliance on such information and statements. The Company does not undertake to update any such forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

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 or accuracy of this release.

Earth Alive Clean Technologies Inc. For more information contact:
9641 rue Clement Mr. Michael Warren
Lasalle, Québec Canada Email: mwarren@earthalivect.com
H8R 4B4 Tel: +1 (514) 941-7350
Tel.: +1 (438) 333-1680
www.earthalivect.com

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Nevada Organic Phosphate Provides Corporate Update and Announces Financing

Nevada Organic Phosphate Provides Corporate Update and Announces Financing

Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company) a B.C. based company engaged, in Nevada, in exploration for organic, sedimentary raw rock phosphate, is pleased to report that it has been advised by Westland, its Environmental Consultant, that the Administrative Draft of the Murdock Mountain EA was submitted to the BLM in Reno on March 8. It was then sent to the BLM team in WellsElko on March 12. Upon the request of the BLM field manager, the review period for the EA will go until April 5. Hopefully, the draft will be published for public comment by mid-April, or shortly thereafter. The public consultation should take about 30 days. The BLM can then elect to issue to NOP its Exploration Permit which will let NOP start its drill programme.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Nevada Organic Phosphate Announces Consulting Agreements

Nevada Organic Phosphate Announces Consulting Agreements

Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company), a B.C. based company engaged in the exploration for organic sedimentary raw rock phosphate in Nevada, is pleased to announce it has entered into a consultant agreement (the "Consulting Agreement") with an independent consultant Integrity Media Inc. (the "Consultant") with respect to the Consultant agreeing to serve as the Company's Manager of Government Relations for a term of (1) one-year, led by its president, Kurt Divich. In consideration for the appointment and services over the term of the Consulting Agreement, the Company has agreed issue 800,000 common shares (each, a "Share") to the Consultant at a deemed price of $0.05 per Share.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
 Nevada Organic Phosphate CEO and Director Robin Dow

Raw Rock Phosphate Deposit Unique in North America, Nevada Organic CEO Says

Raw rock phosphate is an “easy story to understand” and provides a unique and significant value proposition for Nevada Organic Phosphate (CSE:NOP), according to the company’s CEO, Robin Dow.

“There's no other raw rock organic phosphate produced in North America. And we're not sure if there's any in the world … So it's unique and it's needed. And we're going to create a market for it,” said Dow.

Nevada Organic Phosphate is leveraging its Murdock Mountain phosphate deposit in Nevada to produce direct-application raw rock phosphate.

Keep reading...Show less
Nevada Organic Phosphate (CSE:NOP)

Nevada Organic Phosphate


Keep reading...Show less
Nevada Organic Phosphate Announces Stock Option Grant

Nevada Organic Phosphate Announces Stock Option Grant

Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company"), a B.C. based company engaged in the exploration for organic sedimentary raw rock phosphate in Nevada, is pleased to announce it has approved the issuance of 2,000,000 stock options to certain officers, directors, and consultants of the Company for the purchase of up to 2,000,000 common shares in the capital of the Company pursuant to the Company's Stock Option Plan. Each option vested immediately and is exercisable for a period of five (5) years at an exercise price of $0.075 per share.

Nevada Organic Phosphate Inc.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Nevada Organic Phosphate Adds Significantly to Murdock Property Size

Nevada Organic Phosphate Adds Significantly to Murdock Property Size

Nevada Organic Phosphate Inc. (CSE: NOP) ("NOP" or the "Company), a B.C. based company engaged in the exploration for organic sedimentary raw rock phosphate in Nevada, is pleased to announce that, the United States Department of the Interior, Bureau of Land Management (BLM), has accepted 3 new Applications for Phosphate Prospecting Permits filed by Nevada Phosphate Exploration, NV Inc., a wholly owned subsidiary of NOP.

These 3 new applications add an additional 6,011 acres of potential phosphate resource to NOP's existing application covering 1,813 acres.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×