ATW Tech Announces an Increase in Its Revenues of $8.4m (249%) and Revenues of $11.8m for 2017
Momentum Public Relations
Press Release: April 11, 2018
ATW Tech (“AtmanCo” or the “Company”) (TSX-V:ATW) announces its financial results for its 4th quarter and its financial year ended December 31, 2017.
- The Company had revenues of $11.8m in 2017 compared to $3.4m in 2016, an increase of $8.4m or 249%.
- In Q4-2017, the Company had revenues totalling $3.3m compared to $2.6m in Q4-2016, an increase of $0.6m or 26% and compared to $2.7m for Q3-2017, a 22% increase.
- As of December 31, 2017, the Company’s order book was totalling $10.7m compared to $8.9m as of December 31, 2016, for an increase of $1.8m or 20%.
- Total assets increased from $7.3m to $8.1m between 2016 and 2017 for an increase of $0.8m or 11%.
- On October 1st, 2017, the Company closed the acquisition of VuduMobile Inc. (‘Vudu’) for a total purchase price of $589k.
The selected financial information below originates from our 2017 management report:
IN THOUSANDS OF $ | 3 months ended December 31, 2017 |
12 months ended December 31, 2017 |
3 months ended December 31, 2016 |
12 months ended December 31, 2016 |
||||
Consolidated statement of income | ||||||||
Revenues | 3,278 | 11,777 | 2,606 | 3,378 | ||||
Operating income (before depreciation/amortization) |
(81 | ) | (642 | ) | (43 | ) | (561 | ) |
« 2017 allowed us to consolidate the foundation of our growth plan and accelerate our development. Among other things, we finalized the integration of the business activities of VoxTel, completed the acquisition of the cutting-edge text messaging platform of Vudu, built of a solid salesforce aligned with our growth plan and launched many business opportunities in our core unified interactive communications and payment solutions while starting to reap some of those benefits in our 4th quarter of 2017. In the meantime, we continue to be actively involved to progress with our acquisition growth plan », said President and CEO of ATW Tech, Michel Guay.
The above data includes a summary of highlights. For further information, please consult the Corporation’s consolidated financial statement as well as the Management Report for the year ended December 31, 2017 at www.sedar.com
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. There is a risk that expectations and forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward-looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company’s filings. While ATW Tech anticipates that subsequent events and developments may cause its views to change, ATW Tech specifically disclaims any obligation to update these forward-looking statements, unless obligated to do so by applicable securities laws.
Additional information regarding the Company is available on SEDAR www.sedar.com. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.
ABOUT ATW TECH
ATW Tech (‘AtmanCo’) (TSX-V:ATW) is a leader in information technology, owner of several web platforms including VoxTel, VuduMobile, Atman, Bloomed and Quebec Rencontres. VoxTel offers various interactive communication and landline and mobile carrier billing phone solutions. VuduMobile is specialized in the text messaging business for enterprises through its unique, user-friendly and bilingual test messaging application and turnkey solution allowing management of text message management programs in all kind of businesses. Atman and its APIs enable companies to optimize their human capital. Bloomed is a cloud-based platform to manage data (smart data) on consumers and their behaviors, which is developed for marketing agencies and their campaigns for the consumer and corporate markets. Quebec Rencontres is a web and mobile social network application catered to building serious and sustainable relationships.
SOURCE:
ATW TECH (AtmanCo) Michel Guay Founder, president and CEO Tel.: 514.935.5959 ext. 301 mguay@atwtech.com www.atwtech.com |
Simon Bédard, CA, CPA, CFA, MBA CFO Tel. : 514.935.5959 ext. 304 sbedard@atmanco.com |
- Published in ATWTECH
ATW Tech Announces a Contemplated Private Placement of $1.5 Million
Momentum Public Relations
Press Release: March 28 2018
ATW Tech (“AtmanCo” or the “Company”) (TSX-V:ATW) is proud to announce that it has entered into an agreement with the lead agent, Leede Jones Gable Inc. (the “Agent”), to complete a brokered private placement of units, on a commercially reasonable efforts basis, for gross proceeds to the Company of a maximum of $1,500,000 (12,500,000 units at a price of $0.12 per unit). Each unit consists of one common share in the capital of the Company (a “Common Share”) and one common share purchase warrant giving the holder the right to subscribe for one Common Share at a price of $0.15 for a period of 36 months following the closing date. The gross proceeds will be used to support the Company’s development and general working capital purposes. The private placement is scheduled to close on or about April 18, 2018.
The Company also closed today a non-brokered private placement consisting of the issuance of 1,400,000 units at a price of $0.12 per unit, for total gross proceeds of $168,000. Each unit consists of one Common Share and one Common Share purchase warrant giving the holder the right to subscribe for one Common Share at a price of $0.15 for a period of 36 months.
The securities issued under this private placement are subject to a four-month hold period. This private placement remains subject to the final approval of the TSX Venture Exchange.
Additional information regarding the Company is available on SEDAR www.sedar.com. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.
Forward Looking Statements Disclaimer
Certain statements in this press release may be forward-looking. Such statements include those with respect to the Agent’s engagement as lead agent, the Company’s ability to raise funds under the private placement and the use of the proceeds raised thereunder. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) ATW Tech and the Agent will be able to successfully negotiate a mutually satisfactory agency agreement, (ii) ATW Tech will be successful in its efforts to pursue activities referred to in this news release, (iii) the Agent will fulfill its contractual obligations to complete the portion of the private placement for which it was retained on a “best-efforts” basis, (iv) the Agent will be successful in its efforts to identify and secure subscribers under the private placement, (v) the subscribers under the private placement will complete the subscriptions they have agreed to make under their subscription agreements and (vi) ATW Tech’s management will not identify and pursue other business objectives using the proceeds of the private placement. Factors that could cause actual results to differ materially from expectations include (i) the inability or unwillingness of the subscribers under the private placement or of the Agent to fulfill its contractual obligations, in whole or in part, (ii) the Company’s and the Agent’s failure to negotiate a mutually satisfactory agency agreement (iii) the Company’s failure to make effective use of the proceeds of the private placement, (iv) the failure of the Company’s business, for technical, logistical, labor-relations or other reasons, (v) the Company’s inability to obtain the necessary regulatory approvals for the private placement, (vi) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis and (vii) generally, the Company’s inability to develop and implement a successful business plan for any reason. A description of other risks affecting ATW Tech’s business and activities appears under the heading “Risks and Uncertainties” on pages 10 to 12 of ATW Tech’s 2016 annual management’s discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that ATW Tech will derive therefrom. In particular, no assurance can be given as to the future financial performance of ATW Tech. ATW Tech disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event, except as required under applicable law. The reader is warned against undue reliance on these forward-looking statements.
ABOUT ATW TECH
ATW Tech (‘AtmanCo’) (TSX-V:ATW) is a leader in information technology, owner of several web platforms including VoxTel, Québec Rencontres, VuduMobile, Atman and Bloomed. VoxTel offers various interactive communication and landline and mobile carrier billing phone solutions. Quebec Rencontres is a web and mobile social network application catered to building serious and sustainable relationships. VuduMobile is specialized in the text messaging business for enterprises through its unique, user-friendly and bilingual test messaging application et turnkey solution allowing management of text message management programs in all kind of businesses. Atman and its APIs enable companies to optimize their human capital. Bloomed is a cloud-based platform to manage data (smart data) on consumers and their behaviors, which is developed for marketing agencies and their campaigns for the consumer and corporate markets.
SOURCE:
ATW TECH (AtmanCo) Michel Guay Founder, president and CEO Tel.: 514.935.5959 ext. 301 mguay@atwtech.com www.atwtech.com |
Simon Bédard, CA, CPA, CFA, MBA CFO Tel. : 514.935.5959 ext. 304 sbedard@atmanco.com |
- Published in ATWTECH