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Hypercharge Networks Corp. Announces Unaudited Financial Results for the Three Months and Nine Months Ended December 31, 2023
Vancouver, British Columbia--(Newsfile Corp. - February 14, 2024) - Hypercharge Networks Corp. ...
About this update from Hypercharge Networks Corp.
[{"type":"text","content":"Hypercharge Networks Corp. Announces Unaudited Financial Results for the Three Months and Nine Months Ended December 31, 2023Vancouver, British Columbia--(Newsfile Corp. - February 14, 2024) - Hypercharge Networks Corp. (NEO: HC) (OTCQB: HCNWF) (FSE: PB7) (the \"Company\" or \"Hypercharge\"), a leading, smart electric vehicle (EV) charging solutions provider, is announcing the release of its unaudited financial results for the three months and nine months ended December 31, 2023. All dollar figures are in Canadian Dollars, unless otherwise stated.Business and Pipeline Highlights (for the three months ended December 31, 2023):Signed sales orders for 276 Level 2 and DC fast charging ports in the three months ended December 31, 2023 for a total of over 2,800 charging ports sold since commencing business operations in June 2021.Sold and delivered 307 charging ports in the three months ended December 31, 2023 for a total of over 1,650 charging ports since commencing business operations in June 2021.Processed a sales order pursuant to a supply agreement dated December 20, 2023 between the Company and a Western Canadian energy infrastructure provider for up to 12 DC fast charging locations to be deployed in Western Canada, worth an estimated $2,000,000-$3,000,000 in revenue.Reduced general and administration expenditures, net of non-cash expenses, by $275,575 (24%) and $499,574 (37%) compared to the three months ended September 30, 2023 and June 30, 2023, respectively. As such, the Company strategically reallocated these resources with investment in sales and marketing initiatives and research and development efforts over the same period.Increased EV charging sites under management to 271, an increase of 167 (161%) year over year for the 12-month period ending December 31, 2023.Increased the number of drivers using the Hypercharge mobile app in the quarter by 2,370 (33%) to over 9,600 users. Launched three (3) new products: 1) Hypercharge Home, the Company's residential Level 2 EV Charging Station for single-family homes; 2) Eevion™️ Integrated Charging, a cloud-based platform that integrates the Hypercharge EV charging network into any third-party app, platform, or system; and 3) the Hypercharge Carbon Credit Program, administering carbon credits for select commercial and multifamily properties across certain areas ...