Axiologix Issues Second Quarter And First Half Results. Revenues Up 26% Quarter On Quarter; Positive Income And Cash From Operations In Quarter
SARASOTA, Fla. , Jan. 18, 2013 /PRNewswire/ -- Axiologix, Inc. ( www.axiologix.net), (AXLX.PK) an International Technology and Services Organization focused on delivering 'Cloud' Products and Services, today announced that it has filed unaudited results for the three and six months ended November 30, 2012, via the OTC Markets Disclosure & News Service.
Key results were:
- Revenues were $261,128 for the three months ended November 30, 2012 (the "Current Quarter"), an increase of 26% over the last quarter ended August 31, 2012 and $468,728 for the six months, bringing revenues since inception to $655,867.
- Gross margins maintained at 95%.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) was a positive $27,498 for the Current Quarter, as opposed to a loss of $80,797 for the previous quarter ended August 31, 2012.
- Operating income for the Current Quarter was $2,397 as opposed to a loss of $101,986 for the previous quarter ended August 31, 2012.
- Net loss for the Current Quarter was $84,917 as opposed to $209,942 for the previous quarter ended August 31, 2012.
- Generated positive cash flows from operations of $25,127 for the six months ended November 30, 2012 and $61,601 since inception.
- Cash increased by $1,956 for the six months ended November 30, 2012.
Full details of the Company's Quarterly Report can be found at http://www.otcmarkets.com/stock/AXLX/financials.
Vincent Browne, Chairman and Chief Executive of Axiologix, Inc., said , "This has been a very strong quarter for us in delivering against our operational targets and in maintaining a positive operational cash flow position. We continue to focus in the near term on growing organically with our new subsidiary Axiocomm and reducing our debt. As previously announced, we are also at advanced discussions with a number of potential acquisitions, each of which would be earnings enhancing if completed. We also previously announced our intention to seek a listing on OTC QB tier and that remains our goal. We had hoped to have re-registered our common stock with the SEC last October but have decided to defer that activity at this time to avoid the increased operating costs associated with such a listing. We now plan to move to the higher tier of the OTC Markets in conjunction with the completion of the planned acquisitions when we would have more scale to cover the increased costs and also attract better terms from prospective funders by such uplift. We will also be enhancing our shareholder communications in the near future by engaging more actively in social media channels and we look forward to announcing these in due course."About Axiologix, Inc. Axiologix, Inc. is an International Technology and Services Organization focused on delivering Cloud-based Products and Services to small and medium sized businesses primarily in the United States and to operators globally. Axiologix is headquartered in Florida, with international operations in Dublin, Ireland. Additional information may be found at www.axiologix.net This press release contains forward-looking statements. Words such as "expects", "intends", "believes", and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. SOURCE Axiologix, Inc.
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