Business
Wi2Wi Corporation Announces the Results of Three Months Ended September 30, 2018
TORONTO, ON / ACCESSWIRE / November 9, 2018 / Wi2Wi Corporation ("Wi2Wi" or the "Company") (...
About this update from Wi2wi Corp.
[{"type":"text","content":"Wi2Wi Corporation Announces the Results of Three Months Ended September 30, 2018TORONTO, ON / ACCESSWIRE / November 9, 2018 / Wi2Wi Corporation (\"Wi2Wi\" or the \"Company\") (TSX-V: YTY) (OTC: ISEYF) is pleased to announce its unaudited consolidated financial results for the three months ending September 30, 2018. Highlights 3 Months ending September 30, 2018 (unaudited) 3 Months ending September 30, 2017 (unaudited) (in thousands of US dollars unless otherwise stated) Revenue $2,396 $2,306 Net income (loss) from operations 31 10 Net income and comprehensive income 7 15 Net cash provided by (used in) operations (48) 82 Total assets 8,145 7,992 Total current liabilities 1,975 2,095 Shareholders' equity 6,170 5,897 Highlights The Company has a book of business amounting to $8.801 million from Jan 1, 2018 through September 30, 2018 compared to $7.467 million in the same period of the previous year. The Company has booked new business amounting to $1.215 million in the month of October 2018. Total book of business from Jan 1, 2018 through October 31, 2018 amounting to $10.016 million compared to $8.013 million in the same period of the previous year. The Company continues to operate profitably. The Company continues to operate debt free; and cash at end of period nine months ended September 30, 2018 is $2.447 million up from $2.157 million for the same comparable period. The Company continues to improve its product quality and its on-time shipments to its customers.\"Last year we expanded our Sales and Marketing group with new leadership and a larger budget. The result is that our book of sales is up almost 25 percent over the comparable period in 2017. This is a great accomplishment and bodes well for the future of the Company. The Sales team is to be congratulated,\" said Mr. Michael Sonnenreich, Chairman of the Board of Directors of the Company.\"In the past year and a half we have introduced 15 new products in both frequency controls and in wireless connectivity. They have been well received by our clients and gives the Company a robust pipeline into the future. Our Research and Development team is to be congratulated,\" said Mr. Zachariah Mathews, President & CEO of the Company.For further information, please contact:Dawn LeederChief Financial Officer608 203 [email protected] About IoT and M2MEssentially, IoT and M2M de...