Edmonton, Alberta--(Newsfile Corp. - May 29, 2025) - TrustBIX Inc. (TSXV: TBIX) ("TrustBIX" or the "Company") announced today financial results for the second quarter ended March 31, 2025, and the related Management's Discussion and Analysis ("MD&A").
For the three and six months ended March 31, 2025, compared to the same periods in 2024, the Company continued to successfully streamline operations and reduce expenses:
Three months ended March 31, 2025
Net loss and comprehensive loss of $51,411, as compared to $200,982 in 2024, improved by $149,571 or 74.4%;
Cash provided by operating activities of $4,590, as compared to cash used in operating activities of $5,359 in 2024, improved by $9,949 or 185.7%;
Revenue of $335,412, as compared to $343,406 in 2024, decreased by $7,994 or 2.3%; and
Operating expenses of $388,844, as compared to $513,370 in 2024, improved by $124,526 or 24.3%.
Six months ended March 31, 2025:
Net loss and comprehensive loss of $237,644, as compared to $461,935 in 2024, improved by $224,291 or 48.6%;
Cash used in operating activities of $56,016, as compared to $93,425 in 2024, improved by $37,409 or 40.0%;
Revenue of $697,233, as compared to $637,960 in 2024, improved by $59,273 or 9.3%; and
Operating expenses of $883,945, as compared to $1,039,235 in 2024, improved by $155,290 or 14.9%.
"We are very pleased to see the continued positive impact of our commitment to streamlining operations and managing costs effectively. Revenue from our ViewTrak team remained steady, reflecting the strength of our core business. In addition, our Alberta Food Security team secured new orders and collected deposits for our indoor farming technology, and we remain focused on closing and fulfilling further sales opportunities. We are addressing the remaining manufacturing delays on the technology and anticipate deliveries to begin on the initial orders in June 2025," said Hubert Lau, TrustBIX CEO.
The Company's financial results for the second quarter ended March 31, 2025, and the related MD&A, have been filed and are available on the System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca.
About TrustBIX (TSXV: TBIX)
TrustBIX is an agricultural technology company providing Gate to Plate® solutions to create a world where we trust more, waste less, and reward sustainable practices. Our award-winning technologies offer practical tools trusted by local and international agri-food organizations.
www.TrustBIX.com
Forward-Looking Information
This press release contains certain forward-looking information and reflects the Company's present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words "may", "would", "could", "should", "will", "intend", "plan", "propose", "anticipate", "believe", "forecast", "estimate", "expect" and similar expressions used by any of the Company's management, are intended to identify forward-looking statements. Such statements reflect the Company's internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company's current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
Email: info@trustbix.com
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 of accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253930
SOURCE: TrustBIX Inc.
