Minerva Intelligence Reports Q3 2021 Financial Results

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[{"type":"text","content":"\n \n \n \n Minerva Intelligence Reports Q3 2021 Financial Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 26, 2021\n \n /CNW/ -\n \n Minerva Intelligence Inc\n \n . (TSXV: MVAI) (\"Minerva\" or the \"Company\"), an artificial intelligence software company focused on building decision support tools for climate risk, mineral exploration and mining, today reported financial results for the three and nine-month period ended\n \n September 30, 2021\n \n . All amounts are presented in Canadian dollars.\n \n \n \n Total revenues of\n \n $78,685\n \n in Q3 2021 compared to\n \n $149,000\n \n in Q3 2020, with year-to-date revenues of\n \n $900,433\n \n , an increase of over 346% year over year.\n \n \n Loss and comprehensive loss of\n \n ($712,783)\n \n in Q3 2021 (YTD:\n \n $1,179,192\n \n ) compared to Q3 2020 of\n \n ($626,101)\n \n . Year to date, loss and comprehensive loss totaled\n \n ($1,891,975)\n \n compared to\n \n ($2,023,649)\n \n for the same period in 2020, a decrease in loss of 6%.\n \n \n Cash balance of\n \n $4.1m\n \n as of\n \n September 30\n \n \n th\n \n , 2021, compared to\n \n $1.4m\n \n as of\n \n December 31st, 2020\n \n .\n \n \n \n \"Q3 was an important quarter for Minerva as we completed an over-subscribed\n \n $4.5m\n \n financing, giving us the capital we need to pursue our economic geology and climate risk strategies,\" said\n \n Scott Tillman\n \n , CEO of Minerva Intelligence. \"With a strong balance sheet in place we are all well positioned to continue executing in our highly innovative and proprietary Climate Risk strategy in Q4'21 and well into the future. We are seeing growing demand for a solution that provides detailed insight on risks associated with climate change and its impact on various sectors, whether it be governments, insurance companies or issuers globally and we are confident that Minerva technology can provide transparency and clarity when it comes to these risks. Furthermore, our economic geology segment continues to see growing ...

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