TORONTO, Oct. 14, 2020 (GLOBE NEWSWIRE) — Personas Social Incorporated (TSX.V: PRSN) (OTCQB: PRSNF) (the “Company”) announces that the unaudited consolidated interim financial statements (“Financial Statements”) and Management’s Discussion and Analysis (“MD&A”) for the four months ended June 30, 2020, are now available on the Company’s profile on SEDAR (www.sedar.com).
Select financial highlights for the four months ended June 30, 2020 include the following:The Personas Social platform generated gross revenue of $1.28 million during the four months ended June 30, 2020, as compared to $0.81 million for the three months ended May 31, 2019. Gross margin of the Company improved slightly to 41% in the four months ended June 30, 2020 from 40% in the three months ended May 31, 2019.Net loss determined in accordance with generally accepted accounting principles (GAAP) was ($0.84) million in the four months ended June 30, 2020, as compared to ($0.67) million in the three months ended May 31, 2019.Net loss per share was ($0.003) for the four months ended June 30, 2020.
Certain information provided in this news release is extracted from the Financial Statements and MD&A of the Company for the four months ended June 30, 2020, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information.The Company would also like to announce that Mr. Vincent McLeod had resigned from his position as a Director of the Company due to personal reasons. The Company would like to thank Mr. McLeod for his past contributions and wishes him good health and success going forward.For further information and to open a free account with the Company please visit www.personas.comFor further information, please contact:
Personas Social Incorporated
Mark Itwaru
Chairman & Chief Executive Officer
416-639-5335
mark@Personas.com
Forward Looking StatementsThis press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect”, “plan”, “intend”, “anticipates”, “projects”, “potential” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements are statements that are not historical facts. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
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