Business
Everlert Inc. Announces Record Growth and Highlights of Annual Report for Fiscal Year 2013
Everlert Inc. Announces Record Growth and Highlights of Annual Report for Fiscal Year 2013.
About this update from Everlert, Inc.
[{"type":"text","content":"\nMONROVIA, Calif., April 23, 2014 (GLOBE NEWSWIRE) -- Everlert, Inc. (the \"Company\") (OTC:EVLI), reported its unaudited financial results for the year ended December 31, 2013. Below are just a few of the notable highlights reflected in the filing.\n\n\tHighlights for the Year Ended December 31, 2013 vs December 31, 2012\n\n\t\n\t\tNet Revenue increased by approximately 224% or $466K compared to 2012.\n\t\n\t\tOf the Company's $5.4M Accumulated deficit, $4.1M was attributable and separately classified in the balance sheet as being related to discontinued operations, meaning the continuing operations only resulted in a $1.2K accumulated deficit.\n\t\n\t\tThe Company's cash position at December 31, 2013 was $34K, which was $30K greater than the $4K balance for FYE 2012.\n\t\n\t\tThe Company's Accounts Receivables balance decreased by $19.7K, from $21K in 2012 to $1.6K in 2013, representing management's higher success rate in collecting receivables.\n\t\n\t\tInventory increased by $141,450 from 2012 to 2013, as result of increased trade terms together with the increase in projected sales.\n\t\n\t\tThe Company was able to purchase its first DF-Flatscan X-ray unit from its Brazilian supplier (VMI) for $108,250 and pay for half the cost of the unit upon delivery. This purchase also partially accounted for the increase in inventory.\n\t\n\t\tThe Company was able to cover the costs of preparing for two high-profile industry trade shows, which helped to give the Company significant brand recognition in its respective industries.\n\t\n\t\tThe company was able to secure $325,000 in capital from private placement investments during Q4.\n\t\n\t\tIntangible Assets increased by $1,050,000 due to the licensing agreement entered with Registered Express Corporation for technologies related to online document delivery, document storage, secure data centers, electronic communications, as well as the use of RGTX's trademarks, as well as the ability to utilize the expertise provided by REGTX to Mailroom Disaster Planning, Management, and Recovery.\n\t\n\t\tThe Company was able to engage Kyle Tingle, CPA as the auditor of the Company, who is in the process of conducting a full scope audit of the first quarter ended March 31, 2014. This will help to make the financial statements more transparent and a stepping stone to becoming a fully reporting...