Eight Solutions 2015 Fiscal Year Results - Profit Picture Improves MarkedlyTuesday, May 24, 2016
Vancouver, BC, May 24, 2016--(T-Net)--Eight Solutions Inc. (TSXV:ES) announced the release of its audited consolidated financial results for the year ended December 31, 2015. All figures are in Canadian dollars.
Fiscal 2015 Financial Highlights
2015 Operational Highlights
Financial Summary for the fiscal year ended December 31, 2015
|Year ended December 31|
|Revenue||$ 8,064,955||$ 13,797,506|
|Net income (loss) and comprehensive income (loss) attributable to the shareholders of the Company||$ 255,764||$ (2,369,867)|
|Basic earnings (loss) per share||$ 0.01||$(0.05)|
In addition Eight Solutions entered into a $900,000 operating loan with the Royal Bank of Canada, which bears interest at the bank's prime rate plus 5.8% and is secured by amongst other terms a credit insurance policy issued by Export Development Canada and a general security agreement on the assets of the Company.
Proceeds from the loan will be used for general working capital purposes.
About Eight Solutions
Eight Solutions Inc. is a technology company led by a team of gaming industry veterans. Eight's flagship product is Cumul8, a data analytics and visualization solution. Cumul8 works with any type of data source to help people and companies understand, collaborate, and make better decisions with data. Eight's portfolio also includes an award-winning 3D technology licensed to the film industry and Reelhouse, a unique video-on-demand platform that allows films makers to distribute their content directly to users. For more information, visit www.eightsolutions.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although Eight believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For more Information, please contact:
Suite 100, 138 East 7th Avenue
Vancouver, British Columbia, V5T 1M6
Phone: (604) 669-8885
Fax: (604) 669-8855
Vancouver (New Media)
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