Momentum Public Relations
Press Release: November 30, 2017
Relevium Technologies Inc. has released its unaudited financial results for the three-month period ended Sept. 30, 2017.
Financial Highlights
This is the first reporting period that consolidates the results of the acquisition of BioGanix Ltd. (“Bioganix”) (see Press Release issued on June 12, 2017) and illustrates:
- Consolidated revenues of $1.15 Million;
- Adjusted EBITDA* of $154,427 or 13{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} as a percentage of sales;
- Total Assets of $7.1 Million and Total Liabilities of $4.9 Million;
- 65 million shares outstanding.
Aurelio Useche, CEO of Relevium Technologies stated: “This new fiscal year beginning July 1, 2017 will be a transformational year for Relevium. The financial statements and Management Discussion and Analysis as filed on www.sedar.com consolidate the results of BGX E-Health LLC, the wholly-owned subsidiary in the US that operates the assets of BioGanix, the recently acquired B2C nutraceutical business. Mr. Useche added: “The first three months of post-acquisition is a resource and capital-intensive period for any company. The positive EBITDA results and growing revenues indicate to us that the transition of the business has been successful.”
Adjusted EBITDA* Reconciliation $ Net Loss (127,776) Interest on long term debt 107,617 Accreted interest 96,443 Acquistions and related costs 78,137 Adjusted EBITDA* 154,421 *= Adjusted EBITDA is a non-IFRS financial measurement
Non-Financial Highlights
- The Company successfully completed the first half of its active transition period for the acquisition of BioGanix with increased revenues as compared to the same period under the previous ownership
- Launched the first stage of a project to incorporate predictive AI technology for new product selection
- Secured an exclusive partnership with Salvania Nutrition and Biodevas for the launching in 2018 of a nutraceutical and phytoceuticals product line for companion pets.
Aurelio Useche, CEO of Relevium Technologies stated: “Over the second quarter of this new, fiscal year our focus has shifted from integration to organic growth through marketing optimization, new product launches, technology integration and the establishment of key exclusive partnerships to ensure strategic differentiation in our product offering and the build-up of equity for our brands.”
About Relevium Technologies
Relevium is a TSXV-listed company focused on growth through the acquisition of businesses, products and/or technologies with a focus on e-commerce in the growing health and wellness sector. Relevium Technologies Inc. also holds patented intellectual property for the use of static magnetic fields for application on wearable devices.
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