TORONTO, ON / ACCESSWIRE / September 1, 2021 / Aquarius Surgical Technologies Inc. (CSE:ASTI) ("ASTI" or "the Company") released its financial results for the three-month, first-quarter-period ending June 30, 2021. This follows the release of its year-end financial results for the period ending March 31, 2021. All amounts are displayed in Canadian dollars.
Year-End Financial Highlights
March 31, 2021 | March 31, 2020 | |||||||
Operating Revenue | $ | 583,444 | $ | 958,743 | ||||
Cost of Golds Sold | $ | 366,849 | $ | 580,492 | ||||
General and Administrative Expenses | $ | 1,554,713 | $ | 1,562,035 | ||||
Net Gain (Loss) | ($1,810,414) [0.04/share] | ($1,610,649) [$0.02/share] | ||||||
The Financial Statements and Management Discussion and Analysis can be found here.
First-Quarter Financial Highlights
June 30, 2021 | June 30, 2020 | |||||||
Sales | $ | 50,195 | $ | 92,758 | ||||
Cost of Sales | $ | 23,364 | $ | 59,425 | ||||
General & Administrative Expenses | $ | 207,445 | $ | 263,403 | ||||
Net Gain (Loss) | ($242,655) [$0.01/share] | ($356,131) [$0.02/share] | ||||||
The Financial Statements and Management Discussion and Analysis can be found here.
The Company has expended considerable effort to rebuild the operation of the enterprise through internal restructuring and digitization of many of the processes such as sales, accounts receivable, support, etc. The Company is now up to date on all regulatory filings and the shares have resumed trading following the recent cease trading order.
"On behalf of the Board of Directors of ASTI, we wish to thank all of our shareholders for their patience and understanding. We look forward to regaining your trust through demonstrating steady revenue growth and early profitability," commented Gary Van Nest, CEO of ASTI.
About Aquarius Surgical Technologies Inc.
Aquarius Surgical Technologies is an advanced medical-technology company with its primary focus on the development, sale, distribution, marketing, and exploitation of non-invasive surgical technologies using lasers. Aquarius Surgical Technologies Inc. holds FDA approval for its laser technologies suited to the treatment of non-cancerous enlarged prostate and kidney stones. The Company is currently generating revenue from sales and service operations of its subsidiary Surgical Lasers Inc. Revenues are expected to increase each year going forward along with adding value-added services and technologies through organic growth and acquisition. Learn more by visiting the Investor Relations tab on ASTI's website: https://aquariussurgical.com/.
For more information, please contact:
Lorne MacFarlane, CFO
E: lornemac@eastlink.ca
T: 902.496.7594
Jordan Shafi, Account Manager
E: jordan@chfir.com
T: 416.868.1079 x 233
Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Aquarius Surgical Technologies Inc. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Aquarius Surgical Technologies Inc.
SOURCE: Aquarius Surgical Technologies Inc.
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