Enssolutions Group Announces Filing Of Second Quarter Interim Financial Statements And MD&A

Enssolutions Group Inc. (ENV - TSX Venture, NSLSF - OTC Pink) (“Enssolutions” or the “Company”), a manufacturer and distributor of an environmentally responsible emulsion product for a wide variety of industrial and commercial market demands, is pleased to announce the filing of its Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2013 and the comparative 2012 quarter along with Management’s Discussion and Analysis.

Commenting on the results, Phil Moruzi, Interim CEO of Enssolutions said, “While our revenues were below the comparative 2012 period due to weather and flooding in parts of Canada, we continue to focus on direct sales efforts and continued distributor network expansion in both the United States and throughout Canada.”

Financial Results

Certain of the Company's financial results for the six month periods ending June 30, 2013 and 2012 are presented in the table below.
  Quarter Ended   Quarter Ended
  June 30, 2013 June 30, 2012
  $ $
Revenues 816,492 902,330
Operating Loss 175,114 55,288
Net Loss 179,752 58,217
Basic and Diluted Loss

per Share
.01 .01
Assets 1,246,229 1,419,953
Liabilities 782,119 2,017,560
Shareholders' Equity (Deficit) 464,110 (641,259)

Darren Dierich, Chief Financial Officer further commented, “With our continued focus on increasing revenues in both the US and Canada we remain hopeful to be cash flow positive the last two quarters of 2013.”

If you liked this article you might like

Millennials Remain Avid Fans of ETFs

More Financial Advisors Joining Envestnet's Platform

More Advisors Hopping on Platform Says Envestnet President

Why U.S. Stocks Still Better Than Bonds or Foreign Shares

Bonds, Foreign Shares Stuck So Stick With U.S. Stocks