Business
Parvis Announces the Filing of Its Audited Financial Statements and MD&A for the Year Ended March 31, 2024
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2024) - Parvis Invest Inc. (TSXV: P...
About this update from Parvis Invest Inc
[{"type":"text","content":"\nParvis Announces the Filing of Its Audited Financial Statements and MD&A for the Year Ended March 31, 2024Vancouver, British Columbia--(Newsfile Corp. - July 31, 2024) - Parvis Invest Inc. (TSXV: PVIS), a technology-driven real estate company dedicated to broadening access to institutional-quality investment opportunities, in compliance with securities laws, announces that it has completed the process of filing its audited Consolidated Financial Statements and Management Discussion & Analysis for the year ended March 31, 2024. For full financial information, notes, and management commentary, please refer to the Company's Management's Discussion and Analysis (MD&A) and the Consolidated Financial Statements for the year ended March 31, 2024, available on SEDAR+ at www.sedarplus.com.\"Our 2024 audited results showcase the remarkable progress Parvis has made in refining our platform and accelerating revenue growth,\" said David Michaud, Parvis CEO and Director. \"Our success this year stems from strategic partnerships and targeted tech enhancements, which have expanded our investor base and positioned us for significant growth. With a robust network and ecosystem partners, we've established ourselves as the leading private equity marketplace in Canada, and we're ready to seize the next wave of opportunities.\"Financial Result Full Year Highlights: Financial Growth: 2024 was the first year of revenue for Parvis. The Company generated over $180,000 in revenue primarily in the last 2 quarters. Parvis also has deferred revenues of over $100,000 for 2025 which are sales for which the Company has been paid, but services are still to be delivered. With our partnership with over 30 issuers clients, we anticipate the cash flow from sales will continue to be larger than reported revenue. Strategic Focus: The company continues to focus on the path to profitability and increasing near term and long term revenues through multiple streams such as EMDsolutions, the Parvis Direct Access Fund and secondary market service. New B2B Clients: Since its public debut in March 2023 with no sales, Parvis has achieved nearly $300,000 in sales as of March 31, 2024. This growth is attributed to the addition of over 30 private equity issuers, including REITs, real estate developers, and MICs, who have seamlessly connected investors across Canada throu...