Business
Astron Connect Inc. (Formerly "Exalt Capital Corp") Reports Full Year 2019 Results
(via TheNewswire) VANCOUVER, BC - TheNewswire - January 2 8 , 2020 - Astron Con...
About this update from Astron Connect, Inc.
[{"type":"text","content":"Astron Connect Inc. (Formerly \"Exalt Capital Corp\") Reports Full Year 2019 Results(via TheNewswire)\n \n \nVANCOUVER, BC - TheNewswire - January 28, 2020 - Astron Connect Inc. (the \"Company\" or \"Astron\") (TSXV:AST) today announced its full year results for the fiscal year ended September 30, 2019. All dollar amounts are in Canadian dollars, unless otherwise indicated. \n\n \n \nFY 2019 Highlights \n\n \n \n- Sales for the year ended September 30, 2019 were $1,276,475 (2018 - $849,104), an increase of 50% from FY2018. \n\n\n \n- Gross profit of $235,822 for the year ended September 30, 2019 (2018 - $160,583), an increase of 47% from FY2018. \n\n\n \n- Net loss of $1,756,450 for the year ended September 30, 2019 (2018 - net loss of $2,706,721), an improvement of 35% from FY2018. \n\n\n \n- The Company has signed a memorandum of understanding (MOU) with Junding Industrial Co., an influential beverage supplier in the Northern Zhejiang region of China. The agreement was reached at the first China International Import Expo (CIIE) in Shanghai and is valued at as much as $3 million USD, with an opportunity to grow further based on demand. \n\n\n \n- The Company appointed Fei Chu as an independent board member of the company's Audit Committee. Ms. Chu is a procurement director in the Fresh Food Department of Beijing Hema Fresh Network Technology Co., a subsidiary of Alibaba Group Holdings. She has over 20 years' experience in food and beverage procurement, and particular expertise working with international suppliers. Previously, Ms. Chu has worked for Beijing Jingdong Century Trading Co. and the purchasing department of Sam's Club, a subsidiary of Walmart.\n\n \n \nSelected Annual Information\n\n \n\n\n2019\n\n\n\n\n2018\n\n\n\n\n2017\n\n\n \n\n\n $\n\n\n\n\n$\n\n\n\n\n$\n\n\n\n\nRevenue\n\n\n\n\n1,276,475 \n\n\n\n\n 849,104 \n\n\n\n\n 727,070 \n\n\n\n\nOperating expenses\n\n\n\n\n2,018,100 \n\n\n\n\n 2,867,640 \n\n\n\n\n 688,780 \n\n\n\n\nInterest income\n\n\n\n\n 25,828 \n\n\n\n\n 336 \n\n\n\n\n 882 \n\n\n\n\nNet loss\n\n\n\n\n (1,756,450)\n\n\n\n\n (2,706,721)\n\n\n\n\n (371,479)\n\n\n\n\nBasic and diluted EPS\n\n\n\n\n (0.03)\n\n\n\n\n (0.08)\n\n\n\n\n (0.01)\n\n\n\n\nTotal assets\n\n\n\n\n 1,866,927 \n\n\n\n\n 3,571,405 \n\n\n\n\n 1,128,771 \n\n\n\n\nTotal non-current liabilities\n\n\n\n\n - \n\n\n\n\n - \n\n\n\n\n - \n\n\n \...