JEMTEC
INC.TSX-
V: JTC
VANCOUVER, BC, Nov. 23, 2022 /CNW/ – JEMTEC Inc. (TSXV: JTC) (the “Firm”) is happy to supply an replace on its efficiency for the 12 months ended July 31, 2022 and the Corporations monetary state of affairs, with no debt, robust liquidity and internet value.
Y/EÂ Revenues
Revenues have elevated by 9% throughout the 12 months ended July 31, 2022 in comparison with for the 12 months ended July 31, 2021 primarily because of elevated revenues from SOLGEN and the province of Saskatchewan. The Firm earned revenues on its agreements with the Provinces of Saskatchewan, Nova Scotia in addition to the CSC and SOLGEN. The Firm additionally earned revenues from personal bail purchasers by presenting the discharge plans for courtroom circumstances.
Y/EÂ Bills
In the course of the 12 months ended July 31, 2022, bills elevated by 7% in comparison with the 12 months ended July 31, 2021 primarily as a result of fluctuations in depreciation, administrators’ charges, gear lease and set up, overseas alternate, workplace, repairs and upkeep, and share-based funds.
Y/E Revenue Tax
For the fiscal 12 months ended July 31, 2022, the Firm acknowledged a present revenue tax expense of $219,000 (2021 – $166,000) and a deferred revenue tax expense of $11,000 (2021 – restoration $51,000). The present revenue tax expense was associated to revenue tax in Canada. The deferred revenue tax was associated to unrecognized deferred tax belongings/liabilities.
Y/E Web Revenue
For the 12 months ended July 31, 2022, the Firm recorded a internet revenue of $550,957, in comparison with a internet revenue of $561,610 throughout the 12 months ended July 31, 2021. This lower in internet revenue is primarily because of improve in revenue tax.
Y/EÂ Liquidity
As at July 31, 2022, the Firm had money and money equivalents of $2,167,495 and dealing capital of $2,362,677. All money and money equivalents are on deposit with a Schedule I financial institution in Canada in present or curiosity accruing accounts.
Story continues
Eric Caton, President and CEO mentioned, “We’re very happy with the Yr Finish outcomes and we proceed to see the Firm effectively positioned to develop its core enterprise and improve market share nonetheless whereas revenues have elevated by 9% total within the 12 months over 12 months, the lack of the SOLGEN contract is anticipated to negatively have an effect on the Firm’s revenues by roughly 40%” and will have an effect on Web Revenue by as much as 90% pending further enterprise”. Jemtec has supplied a full spectrum of monitoring applied sciences and companies to provincial and federal correctional and border companies throughout Canada since 1987 and in doing so has constructed a popularity for providing the finest technological options and assist to be used on this demanding setting.
FORWARD-LOOKINGÂ STATEMENTS
This information launch accommodates forward-looking statements, which relate to future occasions or future efficiency and replicate administration’s present expectations and assumptions. Such ahead – wanting statements replicate administration’s present beliefs and are based mostly on assumptions made by and knowledge presently obtainable to the Firm. Buyers are cautioned that these forward-looking statements are neither guarantees nor ensures, and are topic to dangers and uncertainties that will trigger future outcomes to vary materially from these anticipated. These forward-looking statements are made as of the date hereof and, besides as required beneath relevant securities laws, the Firm doesn’t assume any obligation to replace or revise them to replicate new occasions or circumstances.
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.
SOURCE Jemtec Inc.
Cision
View authentic content material: http://www.newswire.ca/en/releases/archive/November2022/23/c2252.html