Business
BeWhere Holdings Inc. Reports Fourth Quarter and Fiscal Year-End Financial Results and Provides Business Update
Toronto, Ontario--(Newsfile Corp. - April 8, 2019) - BeWhere Holdings Inc. (TSXV: BEW) (OTCQB:...
About this update from Bewhere Holdings, Inc.
[{"type":"text","content":"BeWhere Holdings Inc. Reports Fourth Quarter and Fiscal Year-End Financial Results and Provides Business UpdateToronto, Ontario--(Newsfile Corp. - April 8, 2019) - BeWhere Holdings Inc.(TSXV: BEW) (OTCQB: BEWFF) (\"BeWhere\" or the \"Company\" an Industrial Internet of Things (\"IIOT\") solutions company that designs and sells hardware with sensors and software applications to track real-time information and environmental conditions on fixed or movable assets, is pleased to announce its financial results for the three and twelve months ended December 31, 2018.Owen Moore, CEO and Co-Founder stated \"during the past year we made significant investment in our new MIOT solutions and our visualization platform. We're very pleased with the results and it's great too see the growth over the last two quarters allowing BeWhere to finish the year off with strong momentum\".Chris Panczuk, COO and Co-Founder stated \"the revenue growth in the last two quarters of 2018 is in line with initial projections and our focus remains on channel expansion and continued growth of our recurring revenue. We intend to capitalize on the advances we've made in distributor partner relations in fiscal 2019\".Fourth Quarter 2018 HighlightsRevenues increased by 219% year over year - Revenues for the three months ended December 31, 2018 were $1,411,277 compared to $442,871 for the three months ended December 31, 2017: an increase of $968,406. Revenues increased by 34% quarter over quarter - Revenues for the three months ended December 31, 2018 were $1,411,277 compared to $1,052,087 for the three months ended September 30, 2018: an increase of $359,190.Net loss - Net loss for the three months ended December 31, 2018 was $314,970 compared to $730,085 for the three months ended December 31, 2017: which is improvement of 415,115 or 57%. Fiscal 2018 HighlightsRevenues for the twelve months ended December 31, 2018, were $3,608,676 compared to $1,686,708 for the twelve months ended December 31, 2017: an increase of $1,921,968, or 114%. Gross Profit increased by 199% - Gross profits for the twelve months ended December 31, 2018 was $690,998 compared to $230,810 for the twelve months ended December 31, 2017: an improvement of $460,188 or 199%.Net loss - Net loss for the twelve months ended December 31, 2018 was $1,407,523 compared to $1,808,394 for the twelve months end...