CALGARY, AB / ACCESS Newswire / April 11, 2025 / Appulse Corporation ("Appulse" or "the Corporation") today reported financial results for the year ended December 31, 2024.
The financial position and operating results for 2024 reflect the Corporation's structure following the November 1, 2023 sale of its wholly-owned subsidiary, Centrifuges Unlimited Inc. ("CUI"). Further information providing details of that cash transaction have been included in previous reports and are published on SEDAR+.
The Corporation has had no operating revenues since the sale of CUI on November 1, 2023. Revenue for the 2024 fiscal year was comprised solely of interest income of $337,000. The financial statements for the 2024 fiscal year reflect both the June 7, 2024 common share dividend of $0.15 per share (for a cash consideration of $2,216,000), and the September 3, 2024 reduction of the Corporation's stated capital and resultant cash distribution to the shareholders of $0.135 per share (for a cash consideration of $1,994,000). Remaining cash balances have been held on conservative interest-yielding investments.
The net loss for the 2024 fiscal year was ($145,000) ($.01 per share), while the 2023 prior year reflected a net income of $1,688,000 ($.11 per share), comprised of a net loss from continuing operations of ($102,000) ($.01 per share) and a net income of $1,791,000 ($.12 per share) from discontinued operations, reflecting both operating results and the sale of CUI. The Statement of Financial Position at December 31, 2024 reflects total assets of $4,154,000 (primarily comprised of cash and an escrow receivable related to the sale of CUI), and total liabilities of $66,000, with a resulting net equity balance of $4,088,000.
Management and the Board of Directors have actively pursued potential investment opportunities, and will continue to do so, with a goal of maximizing value to all shareholders.
Further information on Appulse can be obtained on the SEDAR+ profile of Appulse at www.sedarplus.ca. Certain statements in this release may be forward looking and the reader is cautioned that such information, although considered reasonable by the Corporation at the time of preparation, may prove to be incorrect.
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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Doug Baird, President, Telephone: (403) 807-0717 Email: dbaird@shaw.ca or
Dennis Schmidt, CFO, Telephone: (403) 466-1858 Email: dennis@balisardo.ca
SOURCE: Appulse Corporation
