BECN:CC - BEACN Announces Results for the quarter ended September 30 2022
(TheNewswire)
Vancouver, BC, TheNewswire, November 30, 2022 - BEACN Wizardry &Magic Inc. (“BEACN” or the “Company”) (TSX-V: BECN) is pleased to report that sales of the BEACNMic, Mix and Mix-Create for the nine months ended September 30, 2022,resulted in revenue of $3,534,994 (2021 ) gross profit of$1,498,681 (42.4%) (2021 ) and net income of $240,156 (2021 lossof $660,320). Further information is available from the Company’sinterim financial statements for the period ended September 30, 2022available under the Company’s profile on SEDAR atwww.sedar.com.
Gross profit for the quarter ending September 30, 2022was $315,214 (43.4%) compared gross profit of $532,307 (45.9%) for theprior quarter ending June 30, 2022 and gross profit of $651,160(39.5%) for the quarter ending March 31, 2022. By controlling costs,the Company has achieved and maintained an improved gross profit.
For the balance of the fiscal year, the Company plansto focus on expanding sales efforts and brand awareness, minimizingcosts, and continuing to enhance the Company’s product suite.
About BEACN
BEACN builds world-class studioequipment for everyone. Its team of technology enthusiasts designs andmanufactures products to help you make better content.
BEACN products are just that -- BEACN products. TheCompany does not white label anyone else's stuff, and it does not letanyone white label its own. The Company guarantees that you are usingsomething created specifically by it, just for you.
BEACN is listed on the TSX Venture Exchange under thesymbol “BECN”.
For further information,contact:
Sandrine Lam, Shareholder Communications
Tel: (604) 687-3520
To learn more visit: www.ir.BEACN.com
Neither the TSX Venture Exchange nor its regulationservices provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements andinformation that may constitute forward-looking information within themeaning of applicable Canadian securities laws. All statements in thisnews release, other than statements of historical facts, includingstatements regarding future plans, objectives, timing, assumptions orexpectations of future performance, including withoutlimitation , BEACN’s belief there will be growth in sales and continuedimprovement in gross profit are forward-looking information. Generally, forward-lookingstatements and information can be identified by the use offorward-looking terminology such as “intends” or“anticipates”, or variations of such words and phrases orstatements that certain actions, events or results “may”,“could”, “should”, “would” or “occur”.
Forward-looking statements are based on certainmaterial assumptions and analysis made by the Company and the opinionsand estimates of management as of the date of this press release,including the Company’s ability to maintain manufacturing volume forits products and its ability to sustain sales of products tocustomers, that general economic and marketconditions will not change in an adverse manner, political andregulatory stability, stability in financial and capital markets andthat the Company’s operations will not be adversely impacted byCOVID-19.
These forward-looking statements are subject to knownand unknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements of theCompany to be materially different from those expressed or implied bysuch forward-looking statements or forward-looking information.important factors that may cause actual results to vary, include,without limitation (a) supply chain disruption that may lead to ashortage of inventory for sale; (b) economic or other factors beyondthe control of the Company that may influence the purchasing behaviorof customers; (c) public health crises such as the covid-19 pandemicmay adversely impact the Company’s business and operations; (d) thevolatility of global capital markets; (e) unanticipated costs; and (f)risks relating to the extent and duration of the conflict in easternEurope and its impact on global markets. Although management of theCompany has attempted to identify important factors that could causeactual results to differ materially from those contained inforward-looking statements or forward-looking information, there maybe other factors that cause results not to be as anticipated,estimated or intended. There can be no assurance that such statementswill prove to be accurate, as actual results and future events coulddiffer materially from those anticipated in such statements.Accordingly, readers should not place undue reliance onforward-looking statements and forward-looking information. TheCompany does not undertake to update any forward-looking statement orforward-looking information, except in accordance with applicablesecurities laws.
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