TrustBIX Inc. Announces Second Quarter Financial Results March 31, 2022
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Edmonton, Alberta–(Newsfile Corp. – May 18, 2022) – TrustBIX Inc. (TSXV: TBIX) (OTCQB: TBIXF) (“TrustBIX” or the “Company”) today announced its financial results for the second quarter ended March 31, 2022 and related MD&A.
The Company recorded revenues of $411,726 for the second quarter, down $341,529 or 45.3% from 2021, and $833,987 for the six-month period, down $339,500 or 28.9% over 2021. % over 2021 and $2,415,922 for the six-month period, up $204,156 or 9.2% over 2021.
“Revenue declined due to delays in the delivery of AMP sales in the next quarter, reduced pig probe sales in China and the completion of the All Biomass and Waste Systems contract. West Demolition Despite these challenges this quarter, we are very optimistic about the future as we succeed in new deals with major food companies, engage agri-food producers and consumers, and realize the potential of our recent acquisition. of Insight,” said Hubert Lau, CEO of TrustBIX.
The Company’s financial results for the second quarter ended March 31, 2022 and related MD&A have been filed and are available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar .com.
About TrustBIX (TSXV: TBIX) (OTCQB: TBIXF)
As an innovative leader, TrustBIX provides traceability and agri-food value chain solutions. The company’s goal is to create a world where we trust more, waste less and reward sustainable behavior by meeting the demands of consumers and food companies. The proprietary platform, BIX (Business InfoXchange system), is designed to create trust without compromising privacy through innovative use of blockchain-derived technology and data. Leveraging BIX and its unique use of incentivized solutions, TrustBIX provides independent validation of food provenance and sustainable production practices within the supply chain – Gate to Plate®.
ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in Canada, USA, Mexico and China, such as Auction Master Pro, Market Master, Feedlot Solutions and pig grading probes.
The Company’s Insight technology offers an edge-to-enterprise supply chain solution that brings asset situational awareness to dealerships, equipment fleets and civil construction managers. The platform enables asset movement tracking, protection and identification using self-powered and self-reported cellular tags and a cloud-based tool suite.
For more information, visit www.trustbix.com or follow TrustBIX on Twitter @TrustBIX_Inc, LinkedIn https://ca.linkedin.com/company/bixsco-inc- and Facebook at https://www.facebook.com/ BIX Sco /.
This press release contains certain forward-looking information and reflects the Company’s current assumptions regarding future events. These statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, levels of activity, performance and/or achievements of the Company to be materially different from the results, levels of activity, future performance or achievement expressed or implied by such forward-looking statements.
Certain statements contained herein constitute forward-looking statements and information within the meaning of applicable Canadian securities laws. When used in this document, the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “propose”, “anticipate” , “believes”, “expects”, “estimates”, “expects” and similar expressions used by any of the Company’s officers, are intended to identify forward-looking statements. These statements reflect internal projections, the Company’s expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company, as they relate to the Company’s current views regarding future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that could be expressed or implied by this forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. The Company does not intend, and undertakes no obligation, to update these factors or publicly announce the outcome of any revisions to any of the forward-looking statements contained herein to reflect actual results, future events or developments, except as required by securities laws, regulations or policies.
FOR MORE INFORMATION, CONTACT:
Mr. Hubert Lau
President and CEO
Phone: (780) 456-2207
E-mail: [email protected]
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 the accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124592