Send PM
Followers 1
Posts 68
Boards Moderated 0
Alias Born 10/25/2007

Re: None

Saturday, 09/09/2017 4:25:51 AM

Saturday, September 09, 2017 4:25:51 AM

Post# of 72
Smartcool 2nd Quarter Revenues Grow 300% over 1st Quarter

Vancouver, British Columbia--(Newsfile Corp. - August 29, 2017) - Smartcool Systems Inc. (TSXV: SSC) (OTC Pink: SSCFF) ("Smartcool" or the "Company") is pleased to report that it has filed its Second Quarter Management Discussion and Analysis ("MD&A") and unaudited financial statements for the six-month period ended June 30, 2017, on SEDAR.

Sales revenues were $261,784 and $347,741 for the three and six-month periods ended June 30, 2017, respectively. This compares with $26,854 for the three-month period ended June 30, 2016 and $169,351 for the six-month period ended June 30, 2016, representing sales growth of growth of 975% and 205% respectively.

Operating losses were ($211,881) and ($556,083) for the three and six-month periods ended June 30, 2017, respectively. This compares with a loss of ($419,697) for the three-month period ended June 30, 2016 and ($741,008) for the six-month period ended June 30, 2016, representing a reduction of 50% and 25% respectively.

EBITDA (defined below) was ($73,703) and ($279,535) for the three and six-month periods ended June 30, 2017. This compares with ($265,133) for the three-month period ended June 30, 2016 and ($425,533) for the six-month period ended June 30, 2016, an increase of 72% and 34% respectively.

Ted Konyi, Smartcool's Chief Executive Officer, said that he "attributes these results to the initiation of a direct sales model in North America and the addition of five sales agents. The overall demand for energy efficiency as a function of increasing utility rates and continued concern over global climate change is growing steadily and we are seeing this reflected in our efforts to grow Smartcool's sales. Rising utility rates emphasize how Smartcool's suite of products can be financially beneficial by effectively reducing pay back periods and increasing ROI (Return on Investment) for our customers".

About Smartcool

Smartcool Systems Inc. provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3 and ESM are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by up to 40%, giving customers a return on investment in as little as 12 months.

Smartcool prepares and releases unaudited quarterly and audited consolidated annual financial results provided in accordance with IFRS. In this earnings release, Smartcool has also disclosed and discussed EBITDA, a non-IFRS financial measure. Smartcool has disclosed this non-IFRS financial measure because management believes it is relevant in evaluating Smartcool's performance. EBITDA (Earnings Before Interest Taxes Depreciation and Amortization) consists of revenue less cost of goods and general and administrative expenses.

For further information
WEB www.smartcool.net and www.smartcooleco3.com EMAIL info@smartcool.net

Investor inquiries
Mike Kordysz
Vice President, Investor Relations
EL +1 604 904 8632 EMAIL mike.kordysz@smartcool.net

Forward-looking statements: Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Forward looking statements in this release include those concerning the Company's observation that concern over global climate change is growing steadily and that this growth and rising utility rates will be reflected in Smartcool's sales. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.

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 or accuracy of this release.

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y

FEATURED Ludwig's genomic-based mRNA Inflammatory Index - a Ground-Breaking Technology Sep 28, 2022 1:34 PM

Headwater Gold Commences Multi-Rig Drill Program at the Spring Peak Project, Nevada to Follow Up Epithermal Vein Discoveries HWAUF Sep 28, 2022 10:13 AM

Valiant Eagle Inc. (OTC: PSRU) Significantly Increases Its Equity Stake in Sumer Technologies, Inc., as the Ride-Sharing Company Readies Its Much Anticipated Innovative Zumr App For Q1 2023 U.S. Launch PSRU Sep 28, 2022 9:30 AM

Good Gaming Inc. Announces Official Launch Date For Their New Minecraft OP Prison Game Featuring MicroBuddiesTM GMER Sep 28, 2022 9:15 AM

Trend Innovations Holding Inc. Completes the Second Version of the AI Consultant Chatbot on the Company's Website TREN Sep 28, 2022 9:00 AM

GBT will be attending the Interactive MoneyShow Virtual Expo, on Sep 27-29, Presenting its Technologies, Innovations and Future Visions GTCH Sep 28, 2022 7:30 AM

Branded Legacy, Inc. Reduces Authorized Shares By 300 Million BLEG Sep 27, 2022 11:53 AM

Acquisition Completed: Endexx (EDXC)'s HYLA Secures 200k+ Unit Order; 4,500 Puffs per Unit AVXL Sep 27, 2022 9:33 AM

Integrated Ventures is set to report 254% annual revenue growth, fueled by expansion of crypto mining operations INTV Sep 27, 2022 9:22 AM

SNAKES & LATTES INC. (OTC: FUNN) is Pleased to Report an Almost 200% Increase in Year Over Year FY22 Revenue at $6,064,896, up From $2,027,988 for FY21, With Gross Profits up From $1,369,514 to $4,223,022 FUNN Sep 27, 2022 8:14 AM

ILUS Confirms Its First Investment Project in Serbia ILUS Sep 26, 2022 12:23 PM

Thunder Energies Engages Geological Experts For Gold and Minerals Assessment TNRG Sep 26, 2022 9:56 AM

CERRADO GOLD CONFIRMS OVER 250 METRES OF MINERALIZED STRIKE AT GOGO´ DA ONC¸A EXPLORATION TARGET AT ITS MONTE DO CARMO PROJECT, BRAZIL CRDOF Sep 26, 2022 9:45 AM

HealthLynked Announces Upgrades to its MedOfficeDirect Ecommerce Site for Discount Medical Supplies HLYK Sep 23, 2022 8:00 AM

ResGreeen Uses Open-Source Robot Operating System (ROS) to Enhance Integration and Simulation for LilBuddy AMR RGGI Sep 22, 2022 1:58 PM