Technology News

ScreenPro Security Inc. (CSE: SCRN) ("ScreenPro" or the "Company") is is pleased to report that it has filed on SEDAR its financial statements ("FS") and related management discussion and analysis ("MD&A") for the period ending March 31, 2021 ("Q1 2021").

Q1 2021 Financial Summary

The Company recorded Q1 2021 revenue of $6,880,325.

The Company incurred a net loss of $4,892,781 which included one-time, non-cash listing expense of $3,155,025 and higher than normal profesional services fees of $892,361 related to our public listing.

As a result, our adjusted EBITDA was a loss of $1,664,752.

"We delivered a powerful start to our very first quarter as a public company with excellent revenue results and we foresee strong growth ahead. Adjusting for one-time listing expenses and related costs, the results were very encourging for a brand new business. The management is working on and will execute on a new Post 2022 plan while working on reducing our operating costs in the short term that should show progress over the next few quarters. We are confident in our outlook for the rest of 2021 with new products that leverage our core business that bring innovative and unique solutions to the current and post pandemic world," Andrew Ryu, CEO of the Company.

The following is selected financial information for the period ending March 31, 2021, along with comparative results. Please refer to the Q1 2021 Filing in its entirety, which is available under ScreenPro's profile at www.sedar.com.

All figures are in Canadian dollars unless otherwise noted:


Q1 2021From Incorporation to November 2020% Change
Total revenues$6,880,325$581,6431,083%
Net loss$4,892,781$1,040,231370%
Loss per share - basic$0.03 $0.030%
EBITDA($4,819,777)($994,462)385%

 

The following reconciles the net income, EBITDA and Adjusted EBITDA (non IFRS):


Q1 2021Q3 &Q4 2020

March 31, 2021
Net loss$4,892,781$1,040,231
Add: income tax provisions (recovery)$0.00$0.00
Add: depreciation & amortization$73,004$45,769
EBITDA (non IFRS)($4,819,777)($994,462)
Add: share based compensation-$548,500
Add: one time listing fees and expenses $3,155,025-
Adjusted EBITDA (non IFRS)($1,664,752)($445,962)

 


Q1 2021Q3 &Q4 2020Dollar ChangePercent Change
Total Assets$6,673,936$1,702,088$4,971,848292%
Total Liabilities$2,304,398$807,627$1,496,768185%

 

Please refer to the note at the end of this news release concerning non-IFRS financial measures.

Q1 Highlights and Subsequent Events

  • The Company's revenue reached $6,880,325 in Q1 2021.
  • The Company completed its acquisition of 100% of GoStop is a COVID-19 digital reporting passport developed with a privacy preserving approach that will enable people to use the alerting software and downloadable software with authentication certificates.
  • The Company received orders for an additional 3 Film & TV productions, 1 in Toronto and 2 in Vancouver. The Company provided services to 22 production companies, 7 in Toronto and 15 in Vancouver.
  • The Company announced that it has commenced a new business line providing rapid antigen testing for individuals and corporations with its newly approved Health Canada Rapid Antigen tests.
  • The Company announced that it had partnered with a large streaming service company in the world.
  • The Company announce that it has opened its first COVID-19 testing clinic in partnership with Concierge Medical Consultants, Inc. located in Coal Harbor, Vancouver.

Outlook

The Company announced that it has entered into a Letter of Intent on May 11, 2021, to acquire the assets of CENTRED Ventures, LLC., a US based travel wellness medical technology company.

Centred connects travelers to leading and emerging wellness brands in over 200 cities worldwide, utilizing a vertically integrated platform with an app, website, physical locations, e-commerce, health and wellness, and loyalty programs. In addition to this, Centred has established relationships with the airport authorities in the UAE where all travelers to the region will be sent the Centred App to upload their proof of a negative Covid-19 test before boarding the flight. ScreenPro sees tremendous opportunities to cross sell its covid tests and services to the over 200 cities that Centred has relationships with.

The Company continues to attract business from the film & tv productions with feature-length movies, episodic series productions, and pilot season quickly ramping up in Toronto and Vancouver, and with multiple mutant variants, the Company will continue expanding the COVID-19 screening business.

About ScreenPro

ScreenPro is a Screening and Medical Technology company. ScreenPro provides turnkey screening solutions with alerting software, GoStop. ScreenPro's unique access to multiple manufacturers of high quality test kits and its strategic partnership with Labs in Vancouver and Ontario allows ScreenPro to be a nationwide provider of a full-service testing solutions across Canada. In addition, ScreenPro has its own nursing professionals, and access to high quality PPEs to ensure that its clients are protected in all aspects of their testing needs. GoStop's passport was developed with a privacy preserving approach that will enable individuals to use the alerting software and downloadable app with authentication certificates. The alerts can be scheduled on an on-demand, daily, weekly, or monthly basis and can be used also for vaccine scheduling.

For additional information on ScreenPro and other corporate information, please visit the Company's website at www.screenprosecurity.com

Neither the Canadian Securities Exchange (the "CSE") nor it's Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Jamie Hyland, Director
Email: info@screenprosecurity.com
P. (604) 442-2425

Forward Looking Statements:

Certain statements contained in this news release may constitute forward‐looking information, including statements relating to expectations regarding the future development of ScreenPro's business. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The actual results of ScreenPro could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which ScreenPro operates, prevailing economic conditions, changes to ScreenPro's strategic growth plans, and other factors, many of which are beyond the control of ScreenPro. Management of ScreenPro believes that the expectations reflected in the forward‐looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents ScreenPro's expectations as of the date hereof and is subject to change after such date. ScreenPro disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

###

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85766

News Provided by Newsfile via QuoteMedia

American Manganese Changes Name to RecycLiCo Battery Materials Inc.

American Manganese Changes Name to RecycLiCo Battery Materials Inc.

TSXV: AMY)(OTCQB:AMYZF)(FSE 2AM) RecycLiCo Battery Materials Inc., formerly American Manganese, a battery materials company focused on the development of novel and environmentally friendly lithium-ion battery recycling and upcycling technologies, is pleased to announce its change of name to RecycLiCo Battery Materials Inc. ("RecycLiCo" or "Company"). The name change better reflects the Company's core competencies and mission in lithium-ion battery recycling-upcycling and clearly communicates the Company's commercial opportunities to potential partners and shareholders

The Company's common shares began trading on the various stock exchanges on October 3, 2022, under the new name. The stock symbols for the Company on the various stock exchanges will remain the same. The new CUSIP number assigned to the Company's common shares will be 75629Y108 and the new ISIN number will be CA75629Y1088.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Naturevan Expands Distribution to Asia

Naturevan Expands Distribution to Asia

ScreenPro Security Inc. (CSE: SCRN) (OTCQB: SCRSF) ("ScreenPro" or the "Company") is pleased to announce that further to the news release on September 15, 2022, the Company's wholly-owned subsidiary, Naturevan Nutrition Ltd. ("Naturevan"), will further expand distribution of its products to Japan and South Korea.

Management is currently working on distribution agreements in Asia which will allow the Company to expand supply to a larger audience and enter into different distribution channels, multiplying sales and profit.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Montfort Capital Acquires Majority Stake in Leading Insurance Lender

Montfort Capital Acquires Majority Stake in Leading Insurance Lender

Montfort closes on the third acquisition in the past year bringing total consolidated assets to $475 million

Montfort Capital Corporation ("Montfort" or the "Company") (TSXV: MONT ) (OTCQB: MONTF) a leading  alternative lender  utilizing focused strategies, experienced management teams and advanced technology, is pleased to announce it has closed on the acquisition of approximately 78% of Langhaus Financial Partners Inc. ("Langhaus"). Langhaus is the parent company of Langhaus Financial Corporation ("LFC"), Canada's largest independent provider of insurance policy backed loans, with a specific focus on high-net-worth individuals and entrepreneurs. The Langhaus acquisition was previously announced on May 12, 2022 . The total common share valuation of Langhaus is $12 million and the board, management and vendors of Langhaus are at arm's length to the Company.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Lake Resources NL  Nicholas Lindsay moves to Non-Executive Director Role

Lake Resources NL Nicholas Lindsay moves to Non-Executive Director Role

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) advises that Dr Nicholas Lindsay's role as Technical Director concluded on 30 September 2022 following a period of 21 months overseeing the Company's DFS for the Kachi Project and other related work streams.

The Company would like to thank Dr Lindsay for his commitment and efforts over that period working with our technical team across all facets of the definitive feasibility study. Dr Lindsay will remain on the Lake Board as a Non-Executive Director.



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.

This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Lomiko announces the third round of analytical results from the infill and extension exploration drill program at La Loutre Graphite property, drilling wide high-grade intersections at 11.02% Cg over 120m at the northern end of EV Zone

Lomiko announces the third round of analytical results from the infill and extension exploration drill program at La Loutre Graphite property, drilling wide high-grade intersections at 11.02% Cg over 120m at the northern end of EV Zone

Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce the third round of analytical results from the infill and extension exploration drill program at its wholly-owned La Loutre Graphite property, located approximately 180 kilometres northwest of Montréal in the Laurentian region of Québec. The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The drilling was supervised by Québec-based, independent geological consultant Breakaway Exploration Management Inc. and was operated under ECOLOGO requirements and compliance protocols, as Lomiko is ECOLOGO certified. Please see the press release issued on March 23, 2022 for more details about Lomiko's ECOLOGO certification.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
RecycLiCo Battery Materials Provides Corporate Update

RecycLiCo Battery Materials Provides Corporate Update

TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) American Manganese Inc. (the "Company"), doing business as RecycLiCo Battery Materials, is pleased to announce that the TSX Venture Exchange (the "TSXV") has consented to the Company proceeding with the change of name to RecycLiCo Battery Materials Inc

The Company will be proceeding with its name change and expects to complete the process in the coming weeks. The stock symbols for the Company on the various stock exchange will remain the same, after completion of the name change. On the TSXV the symbol will remain unchanged as "AMY"; on the OTCQB it will remain unchanged as "AMYZF"; and on the FSE it will remain unchanged at "2AM".

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×