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CCSC Technology International Holdings Limited Reports Financial Results for the First Six Months of Fiscal Year 2025 Ended September 30, 2024

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HONG KONG, Dec. 27, 2024 /PRNewswire/ — CCSC Technology International Holdings Limited (the “Company” or “CCSC”) (Nasdaq: CCTG), a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products, including connectors, cables and wire harnesses, today announced its unaudited financial results for the first six months of fiscal year 2025 ended September 30, 2024.

Mr. Kung Lok Chiu, Chief Executive Officer and Director of the Company, commented, “The first six months of fiscal year 2025 has been a remarkable period of growth for our Company. We are proud to report a 22.9% increase in revenue compared to the same period last year, while our gross margin remained stable despite a net loss of $0.74 million in a challenging environment. Furthermore, in January 2024, we successfully completed our initial public offering (IPO) and got listed on the Nasdaq Capital Market under the ticker symbol “CCTG”. Building on the momentum, we launched a plan in May 2024 to establish a new supply chain management center in Serbia, Central Europe. Once completed, this center will serve as the headquarter of our supply chain operations in Europe to support our operations across the region. As of the date of the report, we have acquired the land plot for our new center and expect to complete this project by the fourth quarter of 2025. Looking forward, we plan to strategically focus on further expanding into high-growth industries, such as new energy, robotics, and medical technologies. By continuing to invest in research and development, we aim to deliver innovative and cost-effective products that meet the evolving needs of our customers. We are committed to delivering high-quality products to our customers and generating long-term value for our shareholders.”

First Six Months of Fiscal Year 2025 Financial Highlights

Revenue increased by 22.9% to $9.2 million for the six months ended September 30, 2024, from $7.5 million for the same period of last year.

Gross profit increased by 20.5% to $2.7 million for the six months ended September 30, 2024, from $2.3 million for the same period of last year.

Gross profit margin was 29.8% for the six months ended September 30, 2024, compared to 30.4% for the same period of last year.

Net loss was $0.7 million for the six months ended September 30, 2024, compared to net income of $0.4 million for the same period of last year.

First Six Months of Fiscal Year 2025 Financial Results

Revenue

Total revenue was $9.2 million for the six months ended September 30, 2024, which increased by 22.9% from $7.5 million for the same period of last year.

The following table sets forth revenue by interconnect products: 

For the six months ended September 30,

Change

2024

%

2023

%

Amount

%

(Amounts expressed in U.S. dollars)

Cable and wire harness

$

8,604,502

93.3 %

$

6,887,303

91.8 %

$

1,717,199

24.9 %

Connectors

613,957

6.7 %

616,217

8.2 %

(2,260)

(0.4) %

Total

$

9,218,459

100.0 %

$

7,503,520

100.0 %

$

1,714,939

22.9 %

Revenue generated from cables and wire harnesses increased by 24.9%, to $8.6 million for the six months ended September 30, 2024, from $6.9 million for the same period of last year. Revenue generated from connectors remained essentially unchanged compared to the same period last year.

The increase in revenue was primarily attributable to the increase in sales volume and partially offset by the decrease in the average selling price of products. The increase in demand was mainly due to that customers had utilized their inventories previously purchased  and increased their orders accordingly.

The following table sets forth the disaggregation of revenue by regions:

For the six months ended September 30,

Change

2024

%

2023

%

Amount

%

(Amounts expressed in U.S. dollars)

Europe

$

5,626,272

61.0 %

$

4,336,284

57.8 %

$

1,289,988

29.7 %

Asia

2,736,289

29.7 %

2,388,511

31.8 %

347,778

14.6 %

Americas

855,847

9.3 %

778,725

10.4 %

77,122

9.9 %

Other regions

51

0.0 %

0.0 %

51

0.0 %

Total

$

9,218,459

100 %

$

7,503,520

100 %

$

1,714,939

22.9 %

Revenue generated from Europe increased by 29.7%, to $5.6 million for the six months ended September 30, 2024, from $4.3 million for the same period of last year. The increase was primarily due to the increase of sales in Denmark of $1.0 million and Bulgaria of $0.2 million.

Revenue generated from Asia increased by 14.6%, to $2.7 million for the six months ended September 30, 2024, from $2.4 million for the same period of last year. The increase was primarily due to sales increases in Hong Kong, China of $0.1 million, and sales increases in the Association of Southeast Asian Nations, or ASEAN, of $0.2 million.

Revenue generated from the Americas increased by 9.9%, to $0.9 million for the six months ended September 30, 2024, from $0.8 million for the same period of last year. The increase was primarily due to sales increases in Northern America of $0.08 million.

Revenue from other regions was mainly derived from Australia.

Cost of Revenue

Cost of revenue increased by 23.9%, to $6.5 million for the six months ended September 30, 2024, from $5.2 million for the same period of last year, which was in line with the increase of the total revenue.

Inventory costs amounted to $4.4 million for the six months ended September 30, 2024, compared to $3.5 million for the same period of last year. The increase of inventory costs was primarily due to a 47.5% increase in the total sales volume and a 13.6% decrease in the inventory cost per unit.

Labor costs amounted to $1.5 million for the six months ended September 30, 2024, compared to $1.2 million for the same period of last year. The increase of labor costs was primarily due to the increase in production volume as a result of an increase in sales volume.

Gross Profit and Gross Margin

Gross profit increased by 20.5%, to $2.7 million for the six months ended September 30, 2024, from $2.3 million for the same period of last year.

Gross profit margin was 29.8% for the six months ended September 30, 2024, compared with 30.4% for the same period of last year. The gross profit margin was basically consistent with the same period of 2023. The Company recruited more workers to cope with the increased sales volume, and the increased labor costs eroded profits, resulting in a decrease in gross profit margin.

Operating Expenses

Operating expenses increased by 38.5%, to $3.6 million for the six months ended September 30, 2024, from $2.6 million for the same period of last year. The expense increase was mainly due to the increases in the selling expenses of $0.3 million, inclusive of $0.2 million in costs relating to market development and expansion to ASEAN market, and general and administrative expenses of $0.7 million, inclusive of $0.6 million in agent and professional fees for expenses related to compliance requirements as a public company following the IPO in the U.S..

Other Income/(Expenses)

Other income/(expenses) decreased by $0.8 million, to other expenses of $0.1 million for the six months ended September 30, 2024, from other income of $0.6 million for the same period of last year, primarily due to the decrease in foreign exchange gain.

Income tax benefit

Income tax benefit increased by 170.7%, to $0.2 million for the six months ended September 30, 2024, from $0.1 million for the same period of last year, which was due to the loss of CCSC Technology Group for the six months ended September 30, 2024.

Net (Loss)/Income

Net income decreased by 280.0%, to net loss of $0.7 million for the six months ended September 30, 2024, from net income of $0.4 million for the same period of last year.

Basic and Diluted (Loss)/Earnings per Share

Basic and diluted loss per share was $0.06 for the six months ended September 30, 2024, compared to basic and diluted earnings per share of $0.04 for the same period of last year.

About CCSC Technology International Holdings Limited

CCSC Technology International Holdings Limited, is a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products. The Company specializes in customized interconnect products, including connectors, cables and wire harnesses that are used for a range of applications in a diversified set of industries, including industrial, automotive, robotics, medical equipment, computer, network and telecommunication, and consumer products. The Company produces both OEM (“original equipment manufacturer”) and ODM (“original design manufacture”) interconnect products for manufacturing companies that produce end products, as well as electronic manufacturing services (“EMS”) companies that procure and assemble products on behalf of such manufacturing companies. The Company has a diversified global customer base located in more than 25 countries throughout Asia, Europe and the Americas. For more information, please visit the Company’s website: http://ir.ccsc-interconnect.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

CCSC Technology International Holdings Limited
Investor Relations Department
Email: ir@ccsc-interconnect.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amount in U.S. dollars, except for number of shares)

As of September 30,
2024

As of March 31,
2024

(Unaudited)

Assets

Current assets:

Cash

$

3,789,806

$

5,525,430

Restricted cash

209,622

209,317

Accounts receivable

3,256,687

2,750,214

Inventories

1,967,824

2,023,456

Prepaid expenses and other current assets

1,737,454

1,474,405

Total current assets

10,961,393

11,982,822

Non-current assets:

Property, plant and equipment, net

681,342

198,901

Intangible asset, net

103,768

38,183

Operating right-of-use assets, net

1,441,593

1,659,297

Finance lease right-of-use asset

15,915

17,788

Deferred tax assets, net

488,190

287,394

Other non-current assets

3,733,073

3,753,646

Total non-current assets

6,463,881

5,955,209

TOTAL ASSETS

$

17,425,274

$

17,938,031

Liabilities and Shareholders’ Equity

Current liabilities:

Accounts payable

$

2,567,890

$

2,175,974

Advance from customers

151,594

207,293

Accrued expenses and other current liabilities

1,333,630

1,523,843

Taxes payable

27,248

24,974

Operating lease liabilities – current

517,985

506,061

Finance lease liabilities – current

4,682

4,454

Total current liabilities

4,603,029

4,442,599

Non-current liabilities:

Operating lease liabilities – non current

961,965

1,184,056

Finance lease liabilities – non current

11,739

13,709

Total non – current liabilities

973,704

1,197,765

TOTAL LIABILITIES

$

5,576,733

$

5,640,364

Commitments and Contingencies

Shareholders’ equity

Class A ordinary shares, par value of US$0.0005 per share; 495,000,000 shares authorized,
6,581,250 shares issued and outstanding as of September 30, 2024 and March 31, 2024*

3,291

3,291

Class B ordinary shares, par value of US$0.0005 per share; 5,000,000 shares authorized,
5,000,000 shares issued and outstanding as of September 30, 2024 and March 31, 2024*

2,500

2,500

Additional paid-in capital

4,855,795

4,855,795

Statutory reserve

813,235

813,235

Retained earnings

7,747,463

8,491,783

Accumulated other comprehensive loss

(1,573,743)

(1,868,937)

Total shareholders’ equity

11,848,541

12,297,667

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

17,425,274

$

17,938,031

*Retrospectively reflect the changes in class of shares effective on September 10, 2024

 

CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

AND COMPREHENSIVE LOSS

(Amount in U.S. dollars, except for number of shares)

For the six months ended September 30,

2024

2023

Net revenue

$

9,218,459

$

7,503,520

Cost of revenue

(6,470,715)

(5,223,159)

Gross profit

2,747,744

2,280,361

Operating expenses:

Selling expenses

(752,926)

(473,636)

General and administrative expenses

(2,468,416)

(1,753,179)

Research and development expenses

(332,155)

(338,038)

Total operating expenses

(3,553,497)

(2,564,853)

Loss from operations

(805,753)

(284,492)

Other (expenses)/income:

Other non-operating (expenses)/income, net

(34,766)

51,628

Government subsidies

138,845

Foreign currency exchange (losses)/gains

(241,996)

539,844

Financial and interest expenses, net

7,530

35,783

Total other (expenses)/income

(130,387)

627,255

(Loss)/income before income tax expense

(936,140)

342,763

Income tax benefit

191,820

70,851

Net (loss)/income

(744,320)

413,614

Other comprehensive income/(loss)

Foreign currency translation adjustment

295,194

(636,978)

Total comprehensive loss

$

(449,126)

$

(223,364)

(Loss)/earnings per share

Basic and Diluted

$

(0.06)

$

0.04

Weighted average number of ordinary shares                                                    

Basic and Diluted

11,581,250

10,000,000

 

CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amount in U.S. dollars, except for number of shares)

For the six months ended

September 30,

2024

2023

CASH FLOWS FROM OPERATING ACTIVITIES:

Net (loss)/income

$

(744,320)

$

413,614

Adjustments to reconcile net (loss) income to net cash provided by operating activities:

Inventories write-down

108,257

73,643

Depreciation and amortization

108,167

114,208

Amortization of right-of-use asset

259,582

251,865

Loss from disposal of fixed assets

1,497

595

Deferred tax benefits

(191,820)

(79,198)

Foreign currency exchange losses/(gains)

189,653

(539,844)

Changes in operating assets and liabilities:

Accounts receivable

(479,077)

(47,683)

Inventories

(10,449)

164,072

Prepaid expenses and other current assets

(221,742)

(223,354)

Other non-current assets

54,925

Accounts payable

336,256

418,473

Advance from customers

(56,965)

(60,075)

Taxes payable

1,453

(4,408)

Accrued expenses and other current liabilities

(223,442)

(39,341)

Operating lease liabilities

(250,801)

(244,763)

Financing lease liabilities

(2,208)

Net cash (used in)/provided by operating activities

(1,121,034)

197,804

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property and equipment

(44,006)

(52,025)

Purchase of land

(539,513)

Purchase of intangible asset

(83,346)

(19,217)

Net cash used in investing activities

(666,865)

(71,242)

CASH FLOWS FORM FINANCING ACTIVITIES

Repayments of long-term bank loans

(39,817)

Payment for deferred initial public offering costs

(366,094)

Capital contribution by shareholder

5,000

Net cash used in financing activities

(400,911)

Effect of exchange rate changes on cash and restricted cash

52,580

(63,670)

Net change in cash and restricted cash

(1,735,319)

(338,019)

Cash and restricted cash, beginning of the year

5,734,747

7,717,615

Cash and restricted cash, end of the year

$

3,999,428

$

7,379,596

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid for income tax

$

$

(39,402)

Cash paid for interest

$

$

(228)

Cash paid for operating lease

$

(287,263)

$

(288,667)

 

View original content:https://www.prnewswire.com/news-releases/ccsc-technology-international-holdings-limited-reports-financial-results-for-the-first-six-months-of-fiscal-year-2025-ended-september-30-2024-302339706.html

SOURCE CCSC Technology International Holdings Limited

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

View original content to download multimedia:https://www.prnewswire.com/news-releases/pillsbury-notice-of-data-breach-302828892.html

SOURCE Pillsbury Winthrop Shaw Pittman LLP

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From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

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SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

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SOURCE Fibocom Wireless Inc.

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DR. PHONE FIX ANNOUNCES SECOND TRANCHE CLOSING OF NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, July 18, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce that, further to its news release dated May 19, 2026 and June 24, 2026 (the “Prior News Releases”), it has closed the second tranche of its non-brokered private placement (the “Offering”) of convertible debenture units of the Company (each, a “Unit”). The Company issued 726 Units, at a price of $1,000 per Unit, for aggregate gross proceeds of $726,000. Each Unit is comprised of (i) one $1,000 principal amount unsecured convertible debenture of the Company (a “Convertible Debenture”) and (ii) 3,125 common share (“Common Share”) purchase warrants of the Company (each, a “Warrant”). Additional detail on the Offering, including terms of the Convertible Debentures and Warrants, is set out in the Prior News Releases.

In connection with the Offering, the Company paid a finder’s fee consisting of an aggregate cash fee of $50,820 and issued an aggregate of 317,625 common share purchase warrants of the Company (each, a “Finder’s Warrant”) to certain qualified arm’s length parties. Each Finder’s Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.22 prior to the date that is 24 months from the date of issuance.

All securities issued pursuant to the Offering, including any Common Shares issuable upon conversion of the Convertible Debentures or exercise of the Warrants and Finder’s Warrants, are subject to a statutory hold period of four months and one day from the closing of the Offering, in accordance with applicable securities laws and TSX Venture Exchange (the “TSXV”) policies. 

The Offering remains subject to final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is a national, award-winning, eco-friendly, and customer-centric leader in Canada’s cell phone and electronics repair and certified pre-owned device industry. Founded in 2019, the Company now operates 44 retail locations nationwide through a standardized and scalable operating platform designed to support consistent execution across multiple markets, delivering fast, reliable, and environmentally conscious repair services alongside a curated selection of certified pre-owned devices and premium accessories. Dr. Phone Fix maintains strong partnerships with OEMs and certified suppliers, ensuring consistently high-quality standards across its national footprint. With a focus on responsible device lifecycle management, customer service, and operational discipline, Dr. Phone Fix continues to set the benchmark for device care and resale in Canada.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the final acceptance of the Offering by the TSXV; and the expected use of proceeds following the closing of the Offering. Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; the TSXV will provide its final acceptance of the Offering; and the Company will be able to obtain the financing required in order to develop and continue its business and operations. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain TSXV final acceptance for the Offering; the potential failure to complete the balance of the Offering or to raise the full anticipated gross proceeds; market conditions and investor demand for the Company’s securities; the Company’s inability to deploy the proceeds as currently intended; and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

 

SOURCE Dr. Phone Fix

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