INNOVOTECH Reports a Profitable Third Quarter and Sees Its MBEC Assay Plate Used In Space

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[{"type":"text","content":"INNOVOTECH Reports a Profitable Third Quarter and Sees Its MBEC Assay Plate Used In Space\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n Edmonton –\n \n \n TheNewswire\n-\n \n \n November 15\n \n \n th\n \n \n , 2022 -\n \n \n Innovotech Inc.\n \n \n (TSXV:IOT) returned to profitability in its third quarter\n(Q3) ended September 30\n \n \n th\n \n \n , earning $41,692 from revenue of $340,527\nversus a loss of $21,472 in the prior year period from revenue of\n$236,757.  The improved results stemmed from higher revenue and\nfavourable exchange rates.\n \n \n \n \n \n \n \n \n \n Three-month period ended\n \n \n \n \n \n \n \n \n Q3 2022 comparative financial\nresults\n \n \n \n \n \n \n September 30\n \n \n th\n \n \n , 2022\n \n \n \n \n \n \n September 30\n \n \n th\n \n \n , 2021\n \n \n \n \n \n \n \n \n Gross revenue\n \n \n \n \n \n \n 340,527\n \n \n \n \n \n \n 236,757\n \n \n \n \n \n \n \n \n Cost of sales\n \n \n \n \n \n \n 94,336\n \n \n \n \n \n \n 79,362\n \n \n \n \n \n \n \n \n Gross profit\n \n \n \n \n \n \n 246,191\n \n \n \n \n \n \n 157,395\n \n \n \n \n \n \n \n \n Operating expenses\n \n \n \n \n \n \n 205,841\n \n \n \n \n \n \n 184,182\n \n \n \n \n \n \n \n \n Interest expense\n \n \n \n \n \n \n (1,097)\n \n \n \n \n \n \n -\n \n \n \n \n \n \n \n \n Interest income\n \n \n \n \n \n \n 2,439\n \n \n \n \n \n \n 5,315\n \n \n \n \n \n \n \n \n Net profit (loss)\n \n \n \n \n \n \n 41,692\n \n \n \n \n \n \n (21,472)\n \n \n \n \n \n \n \n \n \n \n \n \n Nine-month period ended\n \n \n \n \n \n \n \n \n Q3 2022 comparative financial\nresults\n \n \n \n \n \n \n September 30\n \n \n th\n \n \n , 2022\n \n \n \n \n \n \n September 30\n \n \n th\n \n \n , 2021\n \n \n \n \n \n \n \n \n Gross revenue\n \n \n \n \n \n \n 876,759\n \n \n \n \n \n \n 1,025,549\n \n \n \n \n \n \n \n \n Cost of sales\n \n \n \n \n \n \n 263,859\n \n \n \n \n \n \n 254,990\n \n \n \n \n \n \n \n \n Gross profit\n \n \n \n \n \n \n 612,900\n \n \n \n \n \n \n 770,559\n \n \n \n \n \n \n \n \n Operating expenses\n \n \n \n \n \n \n 672,617\n \n \n \n \n \n \n 618,007\n \n \n \n \n \n \n \n \n Interest expense\n \n \n \n \n \n \n (4,243)\n \n \n \n \n \n \n -\n \n \n \n \n \n \n \n \n Interest income\n \n \n \n \n \n \n 10,858\n \n \n \n \n \n \n 11,901\n \n \n \n \n \n \n \n \n Net profit (loss)\n \n \n ...

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