TORONTO, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Everfront Ventures Corp. (the “Company” or “Everfront”) (TSXV:EVC) and its wholly owned subsidiary, Datametrex Limited (“Datametrex”), are pleased to announce the results of the Company’s second quarter ended June 30, 2017.
The results for the second quarter ended June 30, 2017 represent the Company’s first consolidated operational results subsequent to the reverse-takeover transaction completed on June 7, 2017.
For the six month period ended June 30, 2017, the Company had revenues from the operations of $100,517, and loss of $1,459,756 for this period including a substantial portion of one-time costs of $783,078 associated with the Company’s reverse-takeover transaction. The Company had working capital of $1,342,482 as at June 30, 2017. There is no year over year comparatives available for the Company as Datametrex was incorporated in September 2016.
Andrew Ryu, CEO and Chairman of the Company commented: “We are very pleased and excited about the progress we have made to date. During this quarter, we completed the reverse-takeover of Everfront by Datametrex, and have established a strong team to grow the company to the next level. We are looking forward to growing our business through the commercialization of our products and technologies as well as exploring new acquisition opportunities.”
About the Company
Everfront is the publicly traded holding Company of Datametrex Limited (“Datametrex”). Datametrex is focused on collecting and aggregating sales data from retail Point of Sale (POS) terminals. Datametrex offers a plug and play solution for retailers. The Company extends the life of retail POS terminals by retrofitting existing POS to the benefits of new cloud-based devices through its DataTap technology. DataTap captures all data sent from the POS to the receipt printer or scanner and sends it to the cloud, so it can be presented in a dashboard for management to monitor key pertinent information.
To learn more about Datametrex, visit: www.datametrex.com
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.
Forward-Looking Statements
This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only the Company`s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein includes, but is not limited to, information with respect to prospective financial performance, anticipated capital funding and sources, proposed or potential acquisitions, estimated operating and sales costs, estimated market drivers and demand, business prospects and strategy, new markets for growth and financial position. By identifying such information and statements in this manner, the Company and Nexalogy are alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Accordingly, readers should not place undue reliance on any forward-looking information or statements contained in this press release. The forward-looking information contained in this press release is made as of the date hereof, and the Company does not undertake to update any forward-looking information that is contained or referenced herein, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. All subsequent written and oral forward looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.