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Axiologix Issues Guidance For Second Financial Quarter; Revenues For Q2 Above $400K Over Double The Previous Year
Axiologix Issues Guidance For Second Financial Quarter; Revenues For Q2 Above $400K Over Double The Previous Year.
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\nAxiologix Issues Guidance For Second Financial Quarter; Revenues For Q2 Above $400K Over Double The Previous Year\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\nAxiologix Issues Guidance For Second Financial Quarter; Revenues For Q2 Above $400K Over Double The Previous Year\nPR Newswire\nATLANTA, Feb. 25, 2014\n\n\n\n\n \n \n\n \n \n \n\n \n\nATLANTA, Feb. 25, 2014 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (Pinksheets:AXLX), an International Technology and Services Organization focused on delivering 'Cloud' telecom Products and Services globally, today provides guidance on financial results for its 2nd quarter ended November 30, 2013 following completion of the acquisition of iWorld Services (IWS) in November and also updates on the status of other acquisitions and its ongoing audit.\n\nRevenues for the quarter ended November 30, 2013 exceeded $400,000 for the quarter, over double that of the same period the year before. The increase is directly related to the inclusion of $260k generated from IWS for the last ten 10 days of November following completion of the acquisition. Full quarter revenues from IWS will be included in the current quarter ending February 28, 2014 that is forecast to come in above $2.5 million for the quarter.\n\nThe Company intends to file its full report for the six months ended November 30, 2013 through the SEC EDGAR reporting system before the end of March 2014, including audited accounts for the previous two financial years as part of re-registering its common stock and returning to fully reporting status with the SEC. \n\nDespite best efforts from both sides throughout 2013, Axiologix and Velocity Networks were ultimately unable to complete their previously announced acquisition and have formally terminated the process. Axiologix continues to build a pipeline of additional acquisitions as part of its core growth strategy and has recently agreed to a letter of intent to acquire a U.S. based provider of international mobile services and products that are complimentary to IWS services.\n\nVincent Browne, Chairman and Chief Execu...