BECN:CC - BEACN Announces Results for the Year Ended December 31 2022
(TheNewswire)
Vancouver, BC - TheNewswire - May 2, 2023 - BEACN Wizardry & Magic Inc. (“BEACN” or the“Company”) (TSX-V:BECN) is pleased to reportthat sales of the BEACN Mic, Mix and Mix-Create for the year endedDecember 31, 2022, resulted in revenue of $4,325,458 (2021 ) grossprofit of $1,636,687 (37.8%) (2021 ) and net loss of $451,154(2021 loss of $2,713,756). Further information is available from theCompany’s financial statements for the year ended December 31, 2022,available under the Company’s profile on SEDAR atwww.sedar.com.
BEACN has continued to invest in product developmentand plans to introduce new products in the near term. The Company ispleased with its initial traction to date and expects that theintroduction of additional products will complement its existingoffering and lead to increased sales and profitability in the future. In the last quarter of 2022 and the first quarter of 2023 BEACN hasincreased its sales and marketing initiatives, purchased additionalinventory for better delivery access to customers and hired additionalsales and marketing personnel to increase the direct-to-consumer salesand open markets for business-to-business sales.
During 2023, the Company will continue its focus onexpanding sales efforts and brand awareness, minimizing costs, andenhancing the Company’s product suite.
About BEACN Wizardry & MagicInc.
BEACN (TSX-V: BECN) develops innovative audioequipment, peripherals and technology for gamers, live streamers, andcontent creators. BEACN is committed to delivering premium productsthat enable everyone to produce studio-qualitycontent. BEACN's award-winning product ecosystemincludes BEACN Mic, BEACN Mix and BEACN Mix Create.
For further information, please contact:
BEACN Wizardry & Magic Inc.
Robert Doyle: rdoyle@beacn.com or 604-561-8990
Reader Advisory
Certain information set forth in this news releasecontains forward-looking statements or information (" forward-looking statements "), including details about the proposed Offeringand
the Company’s proposed use of proceeds from theOffering. By their nature, forward-looking statements are subject tonumerous risks and uncertainties, some of which are beyond theCorporation's control, including risks associated with the inabilityto complete the Offering, timing of receipt of regulatory approval,change in market conditions, evolving global supply chain issues,evolving economic and political issues, and demand for BEACN products.Although the Company believes that the expectations in itsforward-looking statements are reasonable, its forward-lookingstatements have been based on factors and assumptions concerningfuture events which may prove to be inaccurate. Those factors andassumptions are based upon currently available information. Suchstatements are subject to known and unknown risks, uncertainties andother factors that could influence actual results or events and causeactual results or events to differ materially from those stated,anticipated, or implied in the forward-looking statements.Accordingly, readers are cautioned not to place undue reliance on theforward-looking statements, as no assurance canbe provided as to future results, levels of activity or achievements.Furthermore, the forward-looking statements contained in this documentare made as of the date of this document and, except as required byapplicable law, the Company does not undertake any obligation topublicly update or to revise any of the included forward-lookingstatements, whether as a result of new information, future events orotherwise. The forward-looking statements contained in this documentare expressly qualified by this cautionary statement.
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.
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