(TheNewswire)
Kelowna, BC - TheNewswire - November 30, 2023 - Total Telcom Inc. (TSX.V:TTZ) (OTC:TTLTF) (“ TotalTelcom ” or the “Company ”), aleading developer and provider of remote asset monitoring, tracking,control and communication solutions, today announced financial resultsfor its first quarter of Fiscal 2024 ended Sept 30, 2023. The financial statements and related Management's Discussionand Analysis ("MD&A") can be viewed on SEDAR at www.sedar.com
First Quarter 2024 Highlights
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Revenue of $342,346;
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Hardware revenue of $71,184;
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Communication or recurring revenues of$168,107;
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Gross profit of $199,346;
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Cash provided by operating activities of$280,737;
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Net loss of ($16,262).
Neil Magrath, CEO of Total Telcom commented, “Thisquarter reflects a cyclical dip in RV manufacturing over the summermonths, and combined with the timing of RV controller orders,contributed to a slower than anticipated quarter. However, therecontinues to be strong commercial interest in our RV products which isdemonstrated by a third follow-on order subsequent to the quarter end,which has not yet been accounted for in our quarterly results. Wecontinue to focus on expanding our partnerships with our currentdistributors while cultivating new relationships with additional RVmanufacturers and distributors interested in our RV solutions. We haverecently experienced an uptick in interest for our Racing-TraXsolutions, and we believe this segment is positioned for a recordyear. Groundwork has also been laid for our Water-TraX products:we’ve received validation of the product’s effectiveness and afirst order from a department of the US Armed Forces, and we have alsorecently forged our first white label manufacturingagreement.”
Consolidated Statements of Income and ComprehensiveIncome
For the Quarter Ended September 30, 2023
Consolidated Financial Statements of FinancialPosition
For the Quarter Ended September 30, 2023
Consolidated Statements of Cash Flows
For the Quarter EndedSeptember 30, 2023
About Total Telcom
Total Telcom, through its wholly owned subsidiary ROMCommunications Inc. (ROM) is a leading developer and provider ofremote asset monitoring, tracking, control, and communication productsand services.
Total Telcom has a client first history and is knownthroughout the industry for its innovative advanced technologysolutions. The Company is uniquely positioned to deliver solutionsthat enable its customers and clients to cost-effectively oversee,remotely monitor, track, control and communicate with their fixed andmobile assets.
These modules are wireless modems that utilizemicrocomputers integrated with sensors, GPS engines, WiFi, RFID andvarious inputs and outputs. User interface requires NO special APPs orequipment as configuration is facilitated through a wireless WiFiconnection to any smartphone, tablet, laptop, or datalogging firmwareby the user through the Internet. ROM is an authorized airtimereseller and hardware developer for satellite, cellular and wirelessIP Networks.
Total Telcom offers its customers a suite of productsand solutions that are based on proprietary hardware and software. The Company’s business model allows it to generate multiplerevenue streams through the sale of both hardware (products) andrecurring monthly service fees (monitoring, tracking, control, anddata management). For additional information on Total Telcom,visit www.totaltelcom.com
Contact Information
Neil Magrath, CEO
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