Latest news with #InternationalFinancialReportingStandards
Yahoo
2 days ago
- Business
- Yahoo
Deloitte Tohmatsu to offer services for Japan lease accounting
Deloitte Tohmatsu Group has announced it will provide comprehensive services to support finance and accounting departments in adapting to new lease accounting standards set to take effect in Japan from April 2027. The services, centred at the Deloitte Tohmatsu Corporate as a Service Operate Center MAEBASHI, will combine accounting expertise with practical application and operational support to ensure compliance with the new regulations. The forthcoming Japanese lease accounting standards align with International Financial Reporting Standards, requiring lessee operating leases—previously often expensed—to be recognised as assets in most cases. This shift necessitates significant changes for companies, including managing lease contracts, collecting contract data, addressing accounting challenges, and updating business processes and internal controls, the company said. Firms will also need to review IT systems, assess impacts on business plans and budgets, adjust key performance indicators, and secure adequate human resources. To address these requirements, Deloitte Tohmatsu's service leverages AI-OCR technology to convert lease contracts into text data. Generative AI then extracts critical details, such as lease fees and contract periods, that impact accounting treatment. The extracted data is automatically linked to a lease calculation application, which computes right-of-use assets and lease liabilities and generates journal entries for accounting purposes. The company stated that this approach reduces the workload associated with manually processing large volumes of contracts, entering data into lease systems, and calculating accounting figures. The Deloitte Tohmatsu Corporate as a Service Operate Center MAEBASHI serves as a hub for addressing corporate department challenges. It draws on the group's expertise in accounting, risk management, and digital tools, as well as the experience of certified public accountants, tax accountants, and operational managers from shared service departments. The centre aims to provide integrated support for resolving issues, stabilising corporate functions, and transforming operations for Japanese companies nationwide. "Deloitte Tohmatsu to offer services for Japan lease accounting" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
6 days ago
- Business
- Yahoo
MediPharm Labs Responds to Fabricated Allegations from Dissident Shareholder
TORONTO, May 29, 2025 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE:MLZ) ('MediPharm' or the 'Company'), a pharmaceutical company specialized in precision-based cannabinoids, today confirmed that the Company is aware of the news release issued by Apollo Technology Capital Corporation ('Apollo') on May 29, 2025 making baseless allegations of malfeasance against the Company. These patently false allegations have been intentionally or recklessly fabricated as part of the campaign of misinformation employed by Apollo and its Chairman and CEO, Regan McGee in their bid to distract and mislead the Company's shareholders and parlay their 3% ownership position into total control of MediPharm's Board of Directors. MediPharm recently completed a full year-end audit with MNP LLP and received a clean audit opinion dated March 30, 2025, as it has in all previous fiscal years since becoming a public company. Public companies are not required to audit their quarterly financial results nor is it market practice to do so. The Company complies fully with International Financial Reporting Standards and its continuous disclosure obligations pursuant to Canadian securities law. MediPharm has commenced legal proceedings this week to address, in part, material misstatements Apollo has been making and has asked the court to award its costs. About MediPharm Labs Founded in 2015, MediPharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. MediPharm Labs develops, formulates, processes, packages and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets. In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America to hold a commercial-scale domestic Good Manufacturing Practices License for the extraction of multiple natural cannabinoids. This GMP license was the first step in the Company's current foreign drug manufacturing site registration with the US FDA. In 2023, MediPharm acquired VIVO Cannabis Inc., which expanded MediPharm's reach to medical patients in Canada via Canna Farms medical ecommerce platform, and in Australia and Germany through Beacon Medical Australia PTY Ltd. and Beacon Medical Germany GMBH. This acquisition also included Harvest Medical Clinics in Canada which provides medical cannabis patients with Physician consultations for medical cannabis education and prescriptions. The Company carries out its operations in compliance with all applicable laws in the countries in which it operates. Shareholder Voting Assistance: If you have any questions or require any assistance in executing your GREEN proxy or voting instruction form, please call Sodali & Co at: North American Toll-Free Number: 1.888.777.2059Outside North America, Banks, Brokers and Collect Calls: 1.289.695.3075Email: assistance@ American Toll-Free Facsimile: 1.877.218.5372 For up-to-date information and assistance in voting please visit: Investor Contact: MediPharm Labs Investor RelationsTelephone: +1 416.913.7425Email: investors@ Media Contact: John VincicOakstrom Advisors+1 (647) 402-6375john@ Cautionary Note Regarding Forward-Looking Information: This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, the outcome of litigation commenced by MediPharm, and any outcomes resulting from the circumstances and information cited herein. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs' continuous disclosure filings, available on the SEDAR+ website at There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
6 days ago
- Business
- Cision Canada
Tribe Property Technologies Achieves Revenue of $8 million in Q1-2025, and Second Consecutive Quarter of Positive Adjusted EBITDA
Tribe achieved revenue in the first quarter 2025 of $8.0 million; an increase of 49% compared to $5.3 million for the first quarter of 2024. Tribe achieved positive Adjusted EBITDA 1 for the second consecutive quarter. Adjusted EBITDA in the first quarter of 2025 was $0.3 million, an improvement of 124% compared to an Adjusted EBITDA loss of $1.4 million in the first quarter of 2024. VANCOUVER, BC, May 29, 2025 /CNW/ - Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) (" Tribe" or the " Company"), a leading provider of technology-elevated property management solutions, today announces its financial results for the fiscal first quarter ended March 31, 2025. All amounts are stated in Canadian dollars on an as reported basis under IFRS (International Financial Reporting Standards) unless otherwise indicated. Joseph Nakhla, Tribe's CEO commented, " We are extremely pleased with the strong results delivered in Q1-2025, which reflect the successful execution of our growth strategy. Achieving revenue of $8.0 million, a 49% increase over Q1-2024, and generating positive Adjusted EBITDA for the second consecutive quarter are significant milestones for Tribe. Our year-over-year adjusted EBITDA improvement highlights our ability to drive profitability even amidst macroeconomic volatility. Since September 1, 2024 we have been able to repay $1.25 million in vendor takeback debt. The recently announced agreement to acquire Ace Agencies illustrates our desire to strengthen our position in the single unit rental market with its high margins and increasing demand from condo owners. As we continue to innovate and add new services, we are confident that Tribe is well-positioned for sustainable growth and long-term value creation. Our outlook for the full year remains optimistic, and we are excited about the opportunities ahead as we work to deliver sustained value for our shareholders and clients." Angelo Bartolini, Tribe's President and CFO, stated, "T he strong financial performance in Q1-2025, including our second consecutive quarter of positive Adjusted EBITDA, underscores Tribe's ability to generate positive cash flows while maintaining a solid financial foundation. With a 49% increase in revenue and the successful completion of our non-brokered private placement, we are in a strong position to execute on our strategic initiatives. The $1.1 million in proceeds from the private placement, along with our commitment to reducing debt and managing payables, enhances our financial flexibility and provides a solid base for continued growth. As we continue to navigate the challenges of the current economic environment, we remain focused on improving profitability, expanding our service offerings, and improving operational efficiencies." Q1-2025 Financial Highlights: Revenue: Tribe achieved first quarter 2025 revenue of $8.0 million; an increase of 49% compared to $5.3 million for the first quarter of 2024. Revenue growth was driven by acquisitions over the past year and the Company's organic growth. Gross profit 2: Gross profit for the first quarter of 2025 was $3.3 million; an increase of 77% compared to $1.8 million in the first quarter of 2024. Gross margin percentage was 44% in the first quarter of 2025, compared to Gross margin percentage of 39% in the first quarter of 2024. Adjusted EBITDA(2): Adjusted EBITDA for the first quarter of 2025 was $0.3 million; an improvement of 124% compared to an Adjusted EBITDA loss of $1.4 million in the first quarter of 2024. The improvement in Adjusted EBITDA was due to scaling of the business, efficiency initiatives implemented last year, consolidation of accounting systems and backend processes across acquired companies. Q1-2025 Business Highlights: On January 22, 2025, the Company announced its partnership with Electric Asset Inc., a provider of intelligent energy management solutions, to offer strata corporations in British Columbia access to specialized services such as Electrical Planning Reports (EPRs), EV Ready Plans (EVRPs), Opportunity Assessment Reports (OARs), Annual Energy and Carbon Reporting (GHG), and Voltage Conversion Projects (VCPs). The partnership supports compliance with evolving legislation, enhances building sustainability, streamlines access to grants, and promotes ESG initiatives. On February 6, 2025, the Company announced the launch of its proprietary Property Management Inspections Tool, available within the Tribe Home platform to digitize and streamline on-site inspections. The tool enhances reporting accuracy, supports regulatory compliance, and provides greater visibility for Strata Councils and Condo Boards. The Company also reaffirmed the strength of its asset-light model and resilient revenue base amid global macroeconomic volatility. On March 28, 2025, the Company completed a private placement equity financing raising gross proceeds of $1.1 million from the sale of units of the Company at a price of $0.52 per unit. Each unit consisted of one common share and one-half of a common share purchase warrant of the Company. Each whole common share purchase warrant entitles the holder to acquire one common share at a price of $0.82 per common share, until March 28, 2030, subject to adjustment in certain events. The financing, led by the CEO, CFO, EVP, and members of the Board of Directors, was priced above the 20-day VWAP, underscoring insider confidence and supporting the Company's financial stability during a period of economic uncertainty. Events Subsequent to March 31, 2025: On May 27, 2025, the Company announced its agreement to acquire Ace Agencies Ltd., a single-unit rental property management firm based in Abbotsford, British Columbia, significantly expanding Tribe's rental portfolio in the Fraser Valley and Lower Mainland. Ace Agencies generated over $1.4 million in unaudited revenue with positive EBITDA[3] in 2024 and manages approximately 900 single-family rental homes. The acquisition increases Tribe's single-unit rental portfolio by 275%, tripling its presence in this segment and aligning with the Company's strategy to offer full-service property management solutions to both investors and homeowners across Canada. Outlook: Management remains optimistic that 2025 will be a strong year for Tribe. In addition, the Company expects to further augment its growth through acquisitions. Tribe remains resilient in the current higher interest rate environment with technology solutions that benefit our clients. The Company's key goals for 2025 are as follows: Increase growth. Growth will be fueled by landing new property management agreements, onboarding more communities onto the Tribe platform, winning new software licensing agreements and increasing digital services revenue. Pursue strategic acquisitions. Tribe continues to evaluate strategic acquisitions with a view of adding targets that would be immediately accretive. Continue to innovate. Tribe is committed to investing in its software platform, adding functionality and leveraging artificial intelligence in order to maintain its industry leadership position. First Quarter 2025 Financial Results Webinar The Company will hold a conference call and simultaneous webcast to discuss its results on May 29, 2025, at 2:00 pm ET (11:00 am PT). The call will be hosted by Joseph Nakhla, Chief Executive Officer, and Angelo Bartolini, Chief Financial Officer. Please dial-in 10 minutes prior to start of the call. Webinar Details: Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required. Non-IFRS Measures This news release contains non-IFRS measures, including Gross Profit, Gross Profit Percentage and Adjusted EBITDA. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS and should be read in conjunction with the consolidated financial statements for the periods indicated. Gross Profit 2 Three Months Ended March 31 $000s 2025 2024 Revenue, excluding ancillary revenues $ 7,454 $ 4,684 Cost of software & services and software license fees (excluding costs related to ancillary revenues) 4,198 2,847 Gross Profit 2 $ 3,256 $ 1,837 Gross Profit 2 Percentage 43.7 % 39.2 % Financial Statements and Management's Discussion & Analysis Please see the consolidated financial statements and related Management's Discussion & Analysis ("MD&A") for more details. The unaudited consolidated financial statements for the first quarter ended March 31, 2025 and related MD&A have been reviewed and approved by Tribe's Audit Committee and Board of Directors. Tribe recognizes that most of its investors are now accessing corporate and financial information either through pushed news services, directly from or SEDAR+. Thus, Tribe has prepared this truncated news release to alert investors to its results and that a more detailed explanation and analysis is readily available in the MD&A. These reports have been filed on SEDAR+ at and posted at Footnotes (1) Non-IFRS measures: Adjusted EBITDA does not have a standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other issuers. We define Adjusted EBITDA attributed to shareholders as net income or loss excluding severance and acquisition costs, interest expense and finance costs, foreign exchange gains and losses, current and deferred income taxes, depreciation and amortization, stock-based compensation, fair value gains and losses on investments, and other expenses. We believe Adjusted EBITDA is a useful measure as it provides important and relevant information to our management about our operating and financial performance. Adjusted EBITDA also enables our management to assess our ability to generate operating cash flow to fund future working capital needs, and to support future growth. Excluding these items does not imply that they are non-recurring or not useful to investors. Investors should be cautioned that Adjusted EBITDA attributable to shareholders should not be construed as an alternative to net income (loss) or cash flows as determined under IFRS. (2) Non-IFRS measures: Gross profit and gross profit percentage do not have a standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other issuers. We define gross profit as revenue, excluding ancillary revenues, less cost of software and services and software licensing fees. Cost of software and services include direct costs of community managers, client accounting staff and accounting software, excluding client administration and other administrative applications. We define gross profit percentage as gross profit calculated as a percentage of revenues, excluding ancillary revenues. Gross profit and gross profit percentage should not be construed as an alternative for revenue or net loss in accordance with IFRS. We believe that gross profit and gross profit percentage are meaningful metrics in assessing our financial performance and operational efficiency. (3) Non-IFRS measures: Earnings before interest, taxes, depreciation and amortization (" EBITDA") is a non-IFRS measure. EBITDA should not be construed as an alternative to net income/loss determined in accordance with IFRS. EBITDA does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The Company believes that EBITDA is a meaningful financial metric with respect to Ace Agencies as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. "Joseph Nakhla" Chief Executive Officer 1606-1166 Alberni Street Vancouver, British Columbia V6E 3Z3 Phone: (604) 343-2601 Email: [email protected] About Tribe Property Technologies Tribe is a property technology company that is disrupting the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe's integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers. Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe's platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services through the platform. Visit for more information. Cautionary Statement on Forward-Looking Information This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Forward-looking statements or information in this news release may relate to statements with respect to the aims and goals of the Company; financial projections; growth plans including future prospective consolidation in the property management sector; future acquisitions by the Company and impact on the Company; 2025 outlook; beliefs of the Company with respect to the independent owner-investors market; prospective benefits of the Company's platform; and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Tribe Property Technologies Inc.
Miami Herald
28-05-2025
- Business
- Miami Herald
Organto Foods Announces Record First Quarter 2025 Financial Results
TORONTO, ON AND BREDA, THE NETHERLANDS / ACCESS Newswire / May 28, 2025 / Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF)(FSE:OGF) ("Organto" or "the Company"), is pleased to announce its financial results for the three months ended March 31, 2025. All amounts are expressed in Canadian dollars and in accordance with International Financial Reporting Standards (IFRS), except where specifically noted. Hi-Lites Sales of $13.6 million, an increase of 193.5% versus the prior year. Largest quarterly sales in the history of the Company and representing 66% of total fiscal 2024 profit of $1.1 million, an increase of 298.1% versus the prior year. Largest quarterly gross profit dollars in the history of the operating expenses of 6.8% of sales versus 10.5% in the prior year. Lowest cash operating expenses as a percentage of sales in the history of the from operations of $0.1 million versus a loss of $0.3 million in the prior (Earnings before interest, taxes, depreciation and amortization) of $0.3 million, the first positive EBITDA quarter in the history of the Company. "We're very pleased with our first-quarter 2025 results, which we believe are a powerful reflection of the strong momentum building in our business. These results are the direct outcome of the extensive restructuring and strategic realignment we've executed over the past 18 months, laying a solid foundation for sustained growth, stability, and a clear path to profitability. As our results reflect, we have made substantial progress: we've streamlined our product portfolio, re-energized our go-to-market strategies, and significantly reduced operating costs. The first quarter of 2025 delivered exceptional sales and margin growth, all on a leaner, more efficient cost base, resulting in our first-ever positive EBITDA quarter. With strong, ongoing momentum and a continued focus on achieving positive cash flow, we're moving forward with confidence. Our recent successful private placement, shares-for-debt settlements, and the imminent conversion of our convertible debentures into equity only amplify our excitement about what's ahead. We're passionately committed to building a world-class company serving the fast-growing healthy foods market, and in doing so creating lasting value for our partners, customers, team, and shareholders", commented Steve Bromley, Chair and Chief Executive Officer. Fiscal 2025 First Quarter Results Overview Sales of $13.6 million versus $4.6 million in the prior year, an increase of approximately 194%. Sales grew as new customers were added, while a number of existing customers increased their purchases. Q-1 sales represent the largest quarterly sales in the history of the Company and 66% of total fiscal 2024 profit of $1.1 million or 8.2% of sales, versus $0.3 million or 6.0% of sales in the prior year, an increase of approximately 298% in gross profit dollars. Adjusted gross profit(1) was $1.1 million or 8.3% of sales when accounting for the impact of realized gains on derivatives, versus $0.2 million or 4.7% of sales in the prior operating expenses of $0.9 million or 6.8% of sales versus $0.5 million or 10.5% of sales in the prior year. Operating expenses have stabilized following the sales of three subsidiaries in Q-2 2024 and reflect the increased costs of operating that were previously borne by the sold subsidiaries. First quarter costs include approximately $20,000 in legal and listing fees related to re-listing from operations of $0.1 million versus a loss of $0.3 million in the prior year. Adjusted income from operations of $0.2 million in the first quarter, when adjusted for costs associated with re-listing and realized gains on loss for the period of $0.3 million after accounting for interest and accretion costs of $0.3 million and unrealized losses on derivative assets and liabilities of $0.2 million, versus a loss in the prior year of $1.5 million which includes discontinued of $0.3 million versus a loss in the prior year of $1.2 million The Company's filings, including Audited Financial Statements and accompanying Management's Discussion and Analysis for the year ended December 31, 2024 at or at the Company's website at under the Investors tab. Grant of Stock Options The Company has also granted stock options (the "Options") exercisable to acquire up to 1,400,000 common shares to directors, officers and employees of the Company at a price of $0.35 per common share, expiring on May 27, 2030. 775,000 of the Options granted will vest 25% immediately and 25% every six months thereafter; and 625,000 of the Options granted will vest 20% immediately and 20% on each anniversary thereafter. The Options were granted pursuant to the Company's stock option plan which was last approved by shareholders at the Annual Meeting of Shareholders on March 12, 2025. ON BEHALF OF THE BOARD, Steve BromleyChair and Chief Executive Officer Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. For more information contact:Investor Relationsinfo@ Rathwell, Senior Vice President, Corporate Development and Investor Relations647 629 0018 The information presented herein refers to the non-IFRS financial measures of adjusted gross profit and EBITDA. We hedge currencies for certain product categories where either the supply or sales commitments are fixed in foreign currencies. The gains and losses from these hedging activities are combined with gross profit to determine adjusted gross profit. We also refer to EBITDA, which is Earnings before interest, taxes, depreciation and amortization. These two measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS. Non-IFRS financial measures should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS and are unlikely to be comparable to similar measures presented by other issuers. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company's results of operations from management's perspective and thus highlight trends in its business that may not otherwise be apparent when relying solely on IFRS measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of the Company. The Company's management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period and to prepare annual operating budgets and forecasts. ABOUT ORGANTO Organto is an integrated provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products using a strategic asset-light business model to serve a growing socially responsible and health-conscious consumer around the globe. Organto's business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people, and its shareholders. FORWARD LOOKING STATEMENTS This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). In particular, and without limitation, this news release contains forward-looking statements respecting Organto's business model and markets; Organto's belief that the Company has made solid progress in the restructuring and realignment of its business focused on a clear path to profitability, sustained growth and long-term stability; Organto's belief that the impact of these restructuring efforts is a key driver of its first quarter results; Organto's belief that the combination of financing and debt restructuring efforts combined with strong sales and margin growth on a streamlined cost base positions the Company for an exciting future; Organto's belief that it remains focused on building a world class company focused on growing healthy foods markets with the gaol of building shareholder value; management's beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto's business model will be implemented and product supply will be increased; cost increases; dependence on suppliers, partners, and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws, and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors, and partners. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law. SOURCE: Organto Foods, Inc.
Associated Press
28-05-2025
- Business
- Associated Press
Organto Foods Announces Record First Quarter 2025 Financial Results
TORONTO, ON AND BREDA, THE NETHERLANDS / ACCESS Newswire / May 28, 2025 / Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF)(FSE:OGF) ('Organto' or 'the Company'), is pleased to announce its financial results for the three months ended March 31, 2025. All amounts are expressed in Canadian dollars and in accordance with International Financial Reporting Standards (IFRS), except where specifically noted. Hi-Lites 'We're very pleased with our first-quarter 2025 results, which we believe are a powerful reflection of the strong momentum building in our business. These results are the direct outcome of the extensive restructuring and strategic realignment we've executed over the past 18 months, laying a solid foundation for sustained growth, stability, and a clear path to profitability. As our results reflect, we have made substantial progress: we've streamlined our product portfolio, re-energized our go-to-market strategies, and significantly reduced operating costs. The first quarter of 2025 delivered exceptional sales and margin growth, all on a leaner, more efficient cost base, resulting in our first-ever positive EBITDA quarter. With strong, ongoing momentum and a continued focus on achieving positive cash flow, we're moving forward with confidence. Our recent successful private placement, shares-for-debt settlements, and the imminent conversion of our convertible debentures into equity only amplify our excitement about what's ahead. We're passionately committed to building a world-class company serving the fast-growing healthy foods market, and in doing so creating lasting value for our partners, customers, team, and shareholders', commented Steve Bromley, Chair and Chief Executive Officer. Fiscal 2025 First Quarter Results Overview The Company's filings, including Audited Financial Statements and accompanying Management's Discussion and Analysis for the year ended December 31, 2024 at or at the Company's website at under the Investors tab. Grant of Stock Options The Company has also granted stock options (the 'Options') exercisable to acquire up to 1,400,000 common shares to directors, officers and employees of the Company at a price of $0.35 per common share, expiring on May 27, 2030. 775,000 of the Options granted will vest 25% immediately and 25% every six months thereafter; and 625,000 of the Options granted will vest 20% immediately and 20% on each anniversary thereafter. The Options were granted pursuant to the Company's stock option plan which was last approved by shareholders at the Annual Meeting of Shareholders on March 12, 2025. ON BEHALF OF THE BOARD, Steve Bromley Chair and Chief Executive Officer Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. For more information contact: Investor Relations [email protected] John Rathwell, Senior Vice President, Corporate Development and Investor Relations 647 629 0018 ABOUT ORGANTO Organto is an integrated provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products using a strategic asset-light business model to serve a growing socially responsible and health-conscious consumer around the globe. Organto's business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people, and its shareholders. FORWARD LOOKING STATEMENTS This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the 'safe harbor' provisions of the US Private Securities Litigation Reform Act of 1995 ('forward-looking statements'). In particular, and without limitation, this news release contains forward-looking statements respecting Organto's business model and markets; Organto's belief that the Company has made solid progress in the restructuring and realignment of its business focused on a clear path to profitability, sustained growth and long-term stability; Organto's belief that the impact of these restructuring efforts is a key driver of its first quarter results; Organto's belief that the combination of financing and debt restructuring efforts combined with strong sales and margin growth on a streamlined cost base positions the Company for an exciting future; Organto's belief that it remains focused on building a world class company focused on growing healthy foods markets with the gaol of building shareholder value; management's beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto's business model will be implemented and product supply will be increased; cost increases; dependence on suppliers, partners, and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws, and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors, and partners. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law. SOURCE: Organto Foods, Inc. press release
