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Forward Water Technologies Announces Financial Results for the Fifteen-Month Period Ended March 31, 2025
TORONTO, ON / ACCESS Newswire / July 30, 2025 / Forward Water Technologies Corp. (TSXV:FWTC) (...
About this update from Forward Water Technologies Corp
[{"type":"text","content":"Forward Water Technologies Announces Financial Results for the Fifteen-Month Period Ended March 31, 2025TORONTO, ON / ACCESS Newswire / July 30, 2025 / Forward Water Technologies Corp. (TSXV:FWTC) (the \"Company\") is pleased to announce that it has filed its condensed consolidated audited financial statements and related management's discussion and analysis for the fifteen-month period ended March 31, 2025. Copies of these financial statements and related management's discussion and analysis can be found on the Company's issuer profile at www.sedar.com. All financial information in this news release is reported in Canadian dollars, unless otherwise indicated.Financial HighlightsThe fifteen-month period ended March 31, 2025 represents nine months of FMAC and six months of post transaction results:Revenue: $70,514Net Loss and Comprehensive Loss: $(1,678,555)Loss Per Share: $(0.053)Total Assets: $3,744,565Cash at End of Period: $673,249Operating Highlights and Recent Corporate DevelopmentsOn September 30, 2024, FWTC completed a reverse takeover transaction with Fraser Mackenzie Accelerator Corp. (\"FMAC\") (the \"Transaction\"), pursuant to which FWTC acquired all of the issued and outstanding securities of FMAC in exchange for securities of FWTC by way of an amalgamation between FMAC and 1000925180 Ontario Limited (a wholly-owned subsidiary of FWTC incorporated for the sole purpose of facilitating the Transaction). Upon completion of the amalgamation, the amalgamated corporation became a wholly owned subsidiary of FWTC. The Transaction constituted the qualifying transaction of FMAC under the policies of the TSX Venture Exchange.Management CommentaryForward Water's CEO C. Howie Honeyman commented, \"Following the successful completion of our most recent trial-carried out in collaboration with key partners and culminating in the production of battery grade lithium carbonate-we can confidently assert that the iFO™ process presents clear advantages over conventional water treatment methods. FWTC will now leverage this experience to validate the technology in other brine management sectors, including produced water. Moreover, we are exploring new applications in the food & beverage industry, which will serve to significantly expand our client base.\"Summary of Financial ResultsIncome Statement Balance Sheet Statement...