JEMTEC SECOND FISCAL QUARTER & FINANCIAL UPDATE

About this update from Jemtec Inc.

[{"type":"text","content":"\n \n \n \n JEMTEC SECOND FISCAL QUARTER & FINANCIAL UPDATE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n JEMTEC SECOND FISCAL QUARTER & FINANCIAL UPDATE\n \n \n Canada NewsWire\n \n \n \n \n \n JEMTEC INC.TSX- V: JTC\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n March 30, 2022\n \n JEMTEC  Inc.  (TSXV: JTC)  (the  \"Company\")  is pleased to provide an update on its Second Quarter performance for  the  period  ended\n \n January 31, 2022\n \n and  the  Companies  improving financial situation, with no debt, strong liquidity and net worth.\n \n \n \n Q2 Revenues\n \n \n Revenues have increased by 12% during the quarter ended\n \n January 31, 2022\n \n compared to the quarter ended\n \n January 31, 2021\n \n primarily due to increased revenues from SOLGEN and the province of\n \n Saskatchewan\n \n . The Company earned revenues on its agreements with the Provinces of\n \n Saskatchewan\n \n ,\n \n Nova Scotia\n \n as well as the CSC and SOLGEN. The Company also earned revenues from private bail clients by presenting the release plans for court cases.\n \n \n \n Q2 Expenses\n \n \n During the quarter ended\n \n January 31, 2022\n \n , expenses increased by 13% compared to the quarter ended\n \n January 31, 2021\n \n primarily due to the fluctuations in depreciation, directors' fees, equipment rent and installation, foreign exchange, monitoring and activation fees, professional fees and repairs and maintenance.\n \n \n \n Q2 Income Tax\n \n \n For the quarter ended\n \n January 31, 2022\n \n , the Company recognized a current income tax expense of\n \n $54,000\n \n (\n \n January 31, 2021\n \n -\n \n $45,000\n \n ) and a deferred income tax expense of\n \n $4,000\n \n (\n \n January 31, 2021\n \n - $Nil). The current income tax expense was related to income tax in\n \n Canada\n \n . The deferred income tax recovery was related to unrecognized deferred tax assets.\n \n \n \n Q2 Net Income\n \n \n For the quarter ended January 31,&#xA0...

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