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Axiologix Set to Report Full Year Revenues of $6.1 Million for Fiscal Year Ending May 31, 2014 - Up 720% From the Previous Year
Axiologix Set to Report Full Year Revenues of $6.1 Million for Fiscal Year Ending May 31, 2014 - Up 720% From the Previous Year.
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\nAxiologix Set to Report Full Year Revenues of $6.1 Million for Fiscal Year Ending May 31, 2014 - Up 720% From 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 Set to Report Full Year Revenues of $6.1 Million for Fiscal Year Ending May 31, 2014 - Up 720% From the Previous Year\nPR Newswire\nATLANTA, June 17, 2014\n\n\n\n\n \n\n \n\n\nATLANTA, June 17, 2014 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (OTC Pinks: AXLX), an International Technology and Services Organization focused on delivering 'Cloud' Products and Services, today provides guidance on full year revenues. \n\n \n\nAxiologix is set to report Full Year revenues of $6.1 million for the twelve months ending May 31, 2014, an increase of 720% from the prior year ended May 31, 2013. The main reason for the increased revenues during the year was an additional $5.5 million reported for the five months following the acquisition of iWorld Services in November 2013. Full calendar year revenues for iWorld Services for 2013 were over $13 million. \n\nRevenue for fiscal Q4 ending May 31, 2014 was up 1,300% year-on-year.\n\nThe Company is currently completing a Form-10 with the U.S. Securities and Exchange Commission (\"SEC\") that will return the company to full reporting status. The filing is expected to be completed by the end of June, 2014 and will include audited financials statements for May 31, 2013 and 2012 respectively and a review of the period to February 28, 2014. Full year results will be filed with the SEC within standard reporting timelines once the Form-10 is deemed effective.\n\nVincent Browne, Chairman and Chief Executive of Axiologix, Inc. said, \"We are clearly very pleased with the revenue growth following the successful completion of the iWorld acquisition. We are currently working diligently to complete the longer than originally expected Form-10 process, but are now on the final stretch with it. We are also presently working to close our previously announced iTeknik acquisition, which we anticipate will add a further $10m per year in revenues as well as...