LCTI Low Carbon Technologies International Inc. Completes Audit for 2011 and 2012 and Provides Business Update
LCTI Low Carbon Technologies International Inc. Completes Audit for 2011 and 2012 and Provides Business Update
Records $189 Million of Shareholder's Equity for Fiscal 2012
VANCOUVER, BC--(Marketwired - January 08, 2014) - LCTI Low Carbon Technologies International, Inc. (PINKSHEETS: LWCTF) (the "Company"), a diversified company focused on the clean-tech, construction, energy & energy efficiency, environmental, mining and real estate business sectors, announced today that it has completed its audits for the fiscal years ending August 31, 2011 and August 31, 2012.
"We are pleased to report we have completed our audits for fiscal 2011 and 2012," stated CEO Bryan Scott Jarnagin. "Our goal is to complete our audit for the fiscal year ending August 31, 2013 by March 2014, which will bring us current in our reporting and takes us one step closer to listing on a senior exchange in the U.S. Importantly, our audits show over $5 million of EBITDA in fiscal 2012 and shareholder's equity of $189 million as of August 31, 2012. Based on our current share count of 139 million shares outstanding, this represents a book value of over $1.35 per share at the end of fiscal 2012. We expect our final audit will show our book value improving even further in fiscal 2013."
"Our business is performing very well and we generated over $6 million in revenue for the year ending August 31, 2013, up 72% from last year. As we progress through fiscal 2014, we see this trend continuing as we execute on our business plan. In fact, our contracts for the first quarter of 2014 exceeded our total revenues for 2013 and we are exploring additional acquisitions that would further enhance both our revenues and EBITDA. With eight acquired companies to date, we have clearly demonstrated our ability to identify and execute acquisitions at attractive multiples. We now have a proven track record of combining promising green technologies with profitable operating businesses, which allows us to accelerate the growth of both businesses while de-risking new technologies. Moreover, we have executed on this strategy while maintaining a very clean capital structure and minimizing dilution to shareholders."
About LCTI Low Carbon Technologies International Inc.
LCTI Low Carbon Technologies International Inc. is a diversified clean-tech holding company. LCTI acquires profitable operating businesses, and clean-tech technologies. LCTI utilizes its clean-tech technologies in the development of clean-tech projects. LCTI combines the clean-tech technology with each profitable operating businesses. LCTI also issues technology sub-licenses and in return receives equity in projects and/or the companies who are issued the clean-tech technology license. For more information please visit our website www.lctiinc.com
Safe Harbor
This news release contains forward-looking statements. These statements fall within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). Such statements are not historical facts; including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results -- all forward-looking. Forward-looking statements involve risks and uncertainties which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. You can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. Other factors may cause the Company or the industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Investor Relations:
David Waldman/Natalya Rudman
Crescendo Communications, LLC
Telephone: (212) 671-1020 x304
Email: lcti@crescendo-ir.com
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January 08, 2014 11:13 ET (16:13 GMT
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