Very important income statement by management!!
Kontrol Energy Corp. (CSE:KNR) (the "Company") announces Q3 2017 revenue of $2.2 million and $150,486 in EBITDA. Revenue increased 41% over Q2 2017. On year-over-year basis, revenue was up 660% and 412% compared to the nine months ended 2016 and three months ended 2016 respectively.
"The third quarter acceleration in performance reflects the integration of our completed acquisitions. On a year-to-date basis the Company's financial results will not fully reflect our anticipated 12-month run rate as the Ortech acquisition was completed in February 2017 and the Efficiency Engineering acquisition was completed in August 2017." says Paul Ghezzi, CEO Kontrol Energy. "As we continue to execute on our growth plans we are also taking a systematic approach to rationalizing operating expenses across our completed acquisitions and pursuing various revenue synergies which we anticipate will begin to be reflected in the financial statements of Q1 of 2018."
"From an EBITDA and operating cash flows basis we have made strong progress in a short period of time, while integrating our acquisitions," continues Paul Ghezzi. "EBITDA before non-cash expenses for the third quarter was $150,486. Factoring in non-cash amortization expense of $136,743 and finance expense of $163,182 the Company reports a net loss of $149,439 for the three months ended September 30, 2017.
About Kontrol Energy Corp.
Kontrol Energy Corp. (CSE:KNR) is a leader in energy efficiency solutions and technology. Through a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in Greenhouse Gas (GHG) emissions.
