Latest news with #SeanMcEwen
National Post
03-06-2025
- General
- National Post
Roughriders offensive line calls audible due to injuries
Article content Logan Ferland never let his guard down. Article content Article content Despite expecting to play the season at right guard for the Saskatchewan Roughriders in 2025, the 28-year-old has already been forced to change positions along the offensive line. Article content With centre Sean McEwen suffering a torn ACL and his potential replacement Philippe Gagnon suffering a torn bicep in training camp, Ferland has made the move from right guard to centre for Week 1 of the CFL season. Article content 'You don't go into training camp expecting the play centre,' Ferland said ahead of Saskatchewan's season opener against the Ottawa Redblacks on Thursday (7 p.m., TSN) at Mosaic Stadium. 'You might be a backup. Article content 'In this case, I wasn't expecting it at all with the depth we had but you know, one thing leads to another.' Article content After starting last year at right guard, the 6-foot-4, 300-pound Melfort product was forced to play some right tackle and left tackle last year due to injuries before starting six games at centre after Peter Godber was injured. Article content This year, when the team signed McEwen in free agency, Ferland was expecting to move back to guard where he would play alongside McEwen. Now he'll be trying to learn as much as he can in the meeting room from the three-time all-CFLer. Article content 'I always train in the off-season to be ready for anything,' said Ferland, who was the only offensive lineman to start all 18 regular season and two playoff games last year. 'But (it's) very unfortunate. I was really looking forward to playing alongside McEwen and learning a lot from him. Article content Article content 'Just having that voice from a standard centre standpoint, always continuing to learn as much as I can just to continue to elevate my game, especially as a centre.' Article content Article content After what happened last year with the team — where 13 players started along the offensive line due to injuries — Ferland, a fourth-year starter, knew to be ready for anything this year. Article content That's why much of his off-season was dedicated to snapping the football, which makes the position change somewhat of a smooth transition. Article content 'You kind of have to expect something is going to go wrong at some point,' said Ferland, who signed a two-year extension with the Riders this off-season to stay with the club through 2027. 'It's a matter of who's going to fill in and if the right guys mesh well with the other guys.
National Post
22-05-2025
- Sport
- National Post
Roughriders suffer more injuries along offensive line
Article content The Saskatchewan Roughriders have lost a pair of offensive lineman for the foreseeable future due to injury. Article content Article content After it was revealed centre Sean McEwen will be out long-term with an unspecified leg injury, Roughriders head coach Corey Mace told media in Saskatoon on Wednesday during training camp that guard Philippe Gagnon will also miss a considerable amount of time after tearing his biceps on Monday. Article content 'We got the results back, man, and unfortunately he ended up tearing his biceps,' said Mace. 'It might not be season-ending — which is good for him, good for us — but similar to Sean, it's just unfortunate; it didn't look like much but that's just the way it went.' Article content Both McEwen, a former Calgary Stampeder, and Gagnon, a former Montreal Alouette, were signed by the Roughriders during free agency this off-season with McEwen slated to start at centre, replacing Peter Godber who signed with the Ottawa Redblacks, while Gagnon was battling for a starting guard spot. Gagnon was also a potential replacement for McEwen at centre before his own injury. Article content While the 2025 season hasn't even kicked off yet, the Roughriders are now forced to shuffle the deck along the offensive line already, much like they did last year when the team deployed 13 starters and 16 total offensive linemen throughout the 2024 CFL season. Article content Guard Logan Ferland, who started five games at centre last season while Godber was injured, is a candidate to fill the vacant centre role this year while fellow guard Zack Fry is another option. With the injury to Gagnon, it's expected Ferland and Fry will play in the interior of the line along with American Jacob Brammer. Fellow Americans Trevon Tate and Jermarcus Hardrick are expected to be the starting tackles. Article content Article content The Roughriders also have Americans Yoseph Carter, Payton Collins, Nick Jones, Brandon Kemp, Jahmir Ross-Johnson and Canadians Erik Andersen, Daniel Johnson, Brayden Noll, Noah Zerr still at training camp competing for roster spots. Saskatchewan had previously released Zerr on May 14 after three days of camp before re-signing him on Tuesday due to the injuries. Article content Article content The Green and White are set to play their first pre-season game on Saturday when they visit the Winnipeg Blue Bombers (2 p.m., CFL+) before returning to Regina on Monday for the final week of training camp, which wraps up with a home pre-season game on May 30 also against the Bombers. Article content
National Post
21-05-2025
- Sport
- National Post
Offensive linemen in Calgary Stampeders camp: Battle on to fill big centre void
Sean McEwen took his all-star strength and talents to a Canadian Football League rival. Article content Article content His departure in the off-season has left a massive hole at centre for the Calgary Stampeders. Article content But with McEwen's move to the Saskatchewan Roughriders comes a chance for others — especially up-and-comers — to fill that spot along the offensive line, which is a unit that could shape up much differently than last year for the Stampeders despite allowing the third fewest sacks in 2024. Article content Article content 'We do know that very few — if any — of the jobs are actually settled,' said Stampeders GM/head coach Dave Dickenson during training camp at McMahon Stadium. Article content 'I would say Zack Williams is locked in,' continued Dickenson. 'But other than that, we're trying to figure out our best group.' Article content That best group — with sizy Williams at guard — won't be 'a super veteran one,' declared Dickenson. Article content Of the 13 o-linemen still in camp, the most senior is 30-year-old Kyle Saxelid, while six are age 25 and younger. Article content And there isn't much time to earn experience ahead of filling out a starting five, with just one more pre-season game ahead for the Stampeders — that being Saturday against the Edmonton Elks at McMahon (7:30 p.m., CHQR 107.3 FM/770 AM). 'I think offensive line play is important to get to know the guy next to you and play off him and play as a group of five,' added Dickenson. 'But the young guys have competed well, and we're going to bring some vets, as well. And we want to keep our quarterback upright. Article content
Yahoo
15-05-2025
- Business
- Yahoo
KonaTel Reports First Quarter 2025 Results
Derisking Through Hosted Services Expansion DALLAS, TX / / May 15, 2025 / KonaTel, Inc. (OTCQB:KTEL) ( a voice/data communications holding company, today announced financial results for the three-month period ended March 31, 2025. First Quarter 2025 Financial Summary Revenues of $2.2 million, down 61.5% compared to the first quarter last year but on par with Q4-2024 performance. The decrease in revenue, as discussed with our year-end 2024 results, was due to fewer activations within the Company's Mobile Services segment as a result of reduced government subsidized revenues due to the cancellation of the Affordable Connectivity Program (the "ACP"). Gross profit of $651,893, down 42.2% compared to the first quarter last year. Operating loss of $(929,645) compared to operating loss of $(846,955) in the first quarter last year. GAAP net loss of $(917,528), or $(0.02) per share, compared to GAAP net income of $8.1 million, or $0.19 per share, in the first quarter last year. Non-GAAP net loss of $(916,170), or $(0.02) per diluted share, compared to Non-GAAP net income of $8.4 million, or $0.19 per diluted share, in the first quarter of last year. Cash remained healthy at $2.1 million. Sean McEwen, Chairman and CEO of KonaTel stated, "As recently stated in our 2024 10K filing, the failure of congress to re-fund the ACP Program has negatively impacted our business. However, during 2024, we expanded our national Lifeline license from 11 to 40 state authorizations, and we remain prepared to take advantage of the ACP, if it returns, or as an enhanced (more profitable) Lifeline program. As previously stated in 2024, Management decided to sell a minority 49% non-controlling and non-refundable interest in our subsidiary, IM Telecom, for $10 million dollars. As reported in our 2025 Q1 10Q, on May 9, 2025, the 49% IM Telecom stakeholder withdrew their request to acquire 100% of IM Telecom. We continue to retain a majority 51% controlling interest in that subsidiary. This cash sale allowed us to pay off all long-term debts and begin an accelerated investment in the expansion of our CPaaS (Communications Platform as a Service) cloud platform to include both new and expanded services. So far, we have invested in three areas of CPaaS expansion (1) Wholesale SMS, (2) The addition of a Retail/Wholesale/White-Label Billing System fully integrated with our entire product/service portfolio, and (3) The addition of our Cellular Wholesale POTS (Plain Old Telephone Service) Replacement Service tailored specifically for telecommunications carriers and resellers. Wholesale SMS - The expansion of our wholesale SMS platform now supports short-code, along with long-code, messaging. Short-codes (i.e., specialized 5/6 digit phone numbers) are typically used by large companies for large-block communications including two-factor authentication (typically used for logging into secure accounts like bank accounts) or other communications like airline flight status, identity verification, and a myriad of other SMS messaging applications. Retail/Wholesale/White-Label Billing - In Q1 of this year, we activated our retail, wholesale, and white-label billing system, which is fully integrated across our entire cloud-based wholesale product portfolio including termination/origination, SIP Trunks, SMS Services, POTS, wholesale Mobile Voice and Mobile Data service. Our commercial grade billing system provides our customers with a full-featured billing solution, calculating related taxes and fees, across a wide variety of services, taxed at different rates by service type, for all government entities including federal, 56 states/territories/districts, 3000+ counties, and 19,000+ municipalities across the nation. Cellular Wholesale POTS Replacement Service - After 10 months of software development throughout 2024, we are starting to accelerate the initial/controlled deployment of our cellular based, wholesale POTS replacement solution, targeting regional telecommunications carriers and resellers. Our POTS solution is built on top of our proven cloud CPaaS platform, which allows us to provide unique/customized solutions for our customers, typically not available from most POTS providers generally targeting end-users. The market for POTS replacement is large, estimated at between 30 to 35 million legacy POTS lines with a further estimate of seven to 10 million likely to switch to a new POTS solution. Deployment has been progressing well. During our controlled roll-out period, we are now managing over 600 active POTS lines for a select number of carriers/resellers, while we validate various configurations within our cloud platform." McEwen closed, "The challenges and unpredictable behavior of Congress during 2024 certainly negatively impacted our business, but we have been able to shift our development and sales efforts into new areas of expansion, and related to the loss of ACP, we continue to believe the worst is behind us. We believe that one of our strong advantages is that from our proven wholesale cloud (CPaaS) platform, we are able to provide a wide variety of services including termination/origination, SIP, SMS, POTS, Mobile Data, and Mobile Voice solutions, now with a fully integrated reseller billing system. We have already entered into wholesale agreements with a group of carriers/resellers who have over 35,000 existing POTS lines, which they plan to migrate. Our new wholesale POTS service provides a stable, sticky (very low churn), predictable recurring revenue line of business. Management's focus on our CPaaS business has put us well on our way derisking the Company through creating multiple streams of stable, high margin, low attrition recurring revenue services." Quarterly Financial Summary (Q1 2025 vs. Q1 2024) Revenue of $2.2 million, a decrease of 61.5% compared to $5.6 million for reasons discussed above. The decrease in revenue was primarily due to the loss of mobile services revenues under the ACP Program, which ended on June 1, 2024. Gross profit was $651,893, or 30.1% gross profit margin, compared to $1.1 million, or 20.0% gross profit margin. This increase primarily resulted from adding higher ARPU activations in our Mobile Services segment, and sourcing lower compensation and network costs. Total operating expenses were $1.6 million, compared to $1.97 million. This decrease was primarily due to lower payroll and related expenses associated with the reduction of headcount in our IM Telecom subsidiary in the fourth quarter of 2024. GAAP net loss was $(917,528) million, or $(0.02) per diluted share (based on 43.5 million weighted average shares), compared to net income of $8.1 million, or $0.19 per diluted share (based on 43.6 million weighted average shares). Non-GAAP net loss was $(916,170), or $(0.02) per diluted share, compared to Non-GAAP net income of $8.4 million, or $0.19 per diluted share. Balance Sheet The Company ended the quarter with $2.1 million in cash, compared to $1.7 million on December 31, 2024. This increase was due to a corresponding reduction in accounts receivable due from a significant customer. Year-to-Date Financial Detail (First Three Months of 2025 vs. First Three Months of 2024) Revenues decreased 61.5% to $2.2 million compared to $5.6 million, reflecting a 3.5% decrease in Hosted Services revenues and an 82.2% decrease in Mobile Services revenues. Gross profit was $651,893, or 30.1% gross profit margin, compared to gross profit of $1.1 million, or 20.0% gross profit margin. This increase in gross profit margin percentage primarily resulted from adding a higher percent of activations in the California market in our Mobile Services segment, and sourcing lower per subscriber equipment and network costs. Total operating expenses were $1.6 million, down (19.9%) compared to $1.97 million. This decrease was primarily due to lower payroll and related expenses associated with the reduction of headcount in our IM Telecom subsidiary. GAAP net loss was $(917,528) or $(0.02) per diluted share (based on 43.5 million weighted average shares), compared to net income of $8.1 million, or $0.19 per diluted share (based on 43.6 million weighted average shares). This decrease was a result of the gain on sale recognized as part of our sale of 49% interest in IM Telecom in the first quarter of 2024. Non-GAAP net loss was $(916,170) million, or $(0.02) per diluted share, compared to non-GAAP net income of $8.4 million, or $0.19 per diluted share. About KonaTel KonaTel provides a variety of retail and wholesale telecommunications services, including mobile voice/text/data service supported by national U.S. mobile networks, mobile numbers, SMS/MMS services, IoT mobile data service, and a range of hosted cloud services. KonaTel's subsidiary, Apeiron Systems ( is a global cloud communications service provider employing a dynamic "as a service" (CPaaS/UCaaS/CCaaS/PaaS) platform. Apeiron provides voice, messaging, SD-WAN, and platform services using its national cloud network. All Apeiron's services can be accessed through legacy interfaces and rich communications APIs. KonaTel's other subsidiary, Infiniti Mobile ( is an FCC authorized national wireless ACP and Lifeline carrier with an FCC approved wireless Lifeline Compliance Plan, licensed to provide government subsidized cellular service to low-income American families across thirty-six (36) states. KonaTel is headquartered in Plano, Texas. Safe Harbor Statement This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this Press Release. This Press Release should be considered in light of the disclosures contained in the filings of KonaTel and its "forward-looking statements" in such filings that are contained in the EDGAR Archives of the SEC at Contacts D. Sean McEwen(214) 323-8410inquiries@ -- Unaudited Balance Sheets and Statements of Operations Follow - KonaTel, Balance Sheets(unaudited) March 31, 2025 December 31, 2024 Assets Current Assets Cash and Cash Equivalents $ 2,098,383 $ 1,679,345 Accounts Receivable, Net 563,465 1,533,015 Inventory, Net 148,732 163,063 Prepaid Expenses 79,181 94,496 Other Current Assets 147,771 112,170 Total Current Assets 3,037,532 3,582,089 Property and Equipment, Net 14,345 15,128 Other Assets Intangible Assets, Net 323,468 323,468 Right of Use Asset 287,345 319,549 Notes Receivable 850,000 1,000,000 Other Assets 74,328 74,328 Total Other Assets 1,535,141 1,717,345 Total Assets $ 4,587,018 $ 5,314,562 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable and Accrued Expenses $ 2,261,430 $ 2,277,597 Right of Use Operating Lease Obligation - Current 101,934 113,740 Income Tax Payable 184,051 184,051 Total Current Liabilities 2,547,415 2,575,388 Long Term Liabilities Right of Use Operating Lease Obligation - Long Term 206,396 227,776 Total Long Term Liabilities 206,396 227,776 Total Liabilities 2,753,811 2,803,164 Commitments and Contingencies Stockholders' Equity Common stock, $.001 par value, 50,000,000 shares authorized 43,526,417 outstanding and issued at March 31, 2025 and 43,503,658 outstanding and issued at December 31, 2024 43,527 43,504 Additional Paid In Capital 10,455,081 10,215,767 Accumulated Deficit (8,665,401 ) (7,747,873 ) Total Stockholders' Equity 1,833,207 2,511,398 Total Liabilities and Stockholders' Equity $ 4,587,018 $ 5,314,562 KonaTel, Statements of Operations(unaudited) Three Months Ended March 31, 2025 2024 Revenue $ 2,168,714 $ 5,635,836 Cost of Revenue 1,516,821 4,508,332 Gross Profit 651,893 1,127,504 Operating Expenses Payroll and Related Expenses 1,110,699 1,452,100 Operating and Maintenance 1,421 1,544 Credit Loss - 1,448 Professional and Other Expenses 157,431 110,223 Utilities and Facilities 46,411 50,786 Depreciation and Amortization 782 2,449 General and Administrative 49,986 61,395 Marketing and Advertising 5,085 33,996 Application Development Costs 178,529 206,083 Taxes and Insurance 31,194 54,435 Total Operating Expenses 1,581,538 1,974,459 Operating Loss (929,645 ) (846,955 ) Other Income and Expense Gain on Sale - 9,247,726 Interest Expense (576 ) (104,329 ) Other Income/(Expense), net 12,693 (63,930 ) Total Other Income 12,117 9,079,467 Income (Loss) Before Income Taxes (917,528 ) 8,232,512 Income Tax Expense - 149,428 Net Income (Loss) $ (917,528 ) $ 8,083,084 Earnings (Loss) per Share Basic $ (0.02 ) $ 0.19 Diluted $ (0.02 ) $ 0.19 Weighted Average Outstanding Shares Basic 43,526,417 43,180,747 Diluted 43,526,417 43,601,328 SOURCE: KonaTel View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
KonaTel Reports First Quarter 2025 Results
Derisking Through Hosted Services Expansion DALLAS, TX / / May 15, 2025 / KonaTel, Inc. (OTCQB:KTEL) ( a voice/data communications holding company, today announced financial results for the three-month period ended March 31, 2025. First Quarter 2025 Financial Summary Revenues of $2.2 million, down 61.5% compared to the first quarter last year but on par with Q4-2024 performance. The decrease in revenue, as discussed with our year-end 2024 results, was due to fewer activations within the Company's Mobile Services segment as a result of reduced government subsidized revenues due to the cancellation of the Affordable Connectivity Program (the "ACP"). Gross profit of $651,893, down 42.2% compared to the first quarter last year. Operating loss of $(929,645) compared to operating loss of $(846,955) in the first quarter last year. GAAP net loss of $(917,528), or $(0.02) per share, compared to GAAP net income of $8.1 million, or $0.19 per share, in the first quarter last year. Non-GAAP net loss of $(916,170), or $(0.02) per diluted share, compared to Non-GAAP net income of $8.4 million, or $0.19 per diluted share, in the first quarter of last year. Cash remained healthy at $2.1 million. Sean McEwen, Chairman and CEO of KonaTel stated, "As recently stated in our 2024 10K filing, the failure of congress to re-fund the ACP Program has negatively impacted our business. However, during 2024, we expanded our national Lifeline license from 11 to 40 state authorizations, and we remain prepared to take advantage of the ACP, if it returns, or as an enhanced (more profitable) Lifeline program. As previously stated in 2024, Management decided to sell a minority 49% non-controlling and non-refundable interest in our subsidiary, IM Telecom, for $10 million dollars. As reported in our 2025 Q1 10Q, on May 9, 2025, the 49% IM Telecom stakeholder withdrew their request to acquire 100% of IM Telecom. We continue to retain a majority 51% controlling interest in that subsidiary. This cash sale allowed us to pay off all long-term debts and begin an accelerated investment in the expansion of our CPaaS (Communications Platform as a Service) cloud platform to include both new and expanded services. So far, we have invested in three areas of CPaaS expansion (1) Wholesale SMS, (2) The addition of a Retail/Wholesale/White-Label Billing System fully integrated with our entire product/service portfolio, and (3) The addition of our Cellular Wholesale POTS (Plain Old Telephone Service) Replacement Service tailored specifically for telecommunications carriers and resellers. Wholesale SMS - The expansion of our wholesale SMS platform now supports short-code, along with long-code, messaging. Short-codes (i.e., specialized 5/6 digit phone numbers) are typically used by large companies for large-block communications including two-factor authentication (typically used for logging into secure accounts like bank accounts) or other communications like airline flight status, identity verification, and a myriad of other SMS messaging applications. Retail/Wholesale/White-Label Billing - In Q1 of this year, we activated our retail, wholesale, and white-label billing system, which is fully integrated across our entire cloud-based wholesale product portfolio including termination/origination, SIP Trunks, SMS Services, POTS, wholesale Mobile Voice and Mobile Data service. Our commercial grade billing system provides our customers with a full-featured billing solution, calculating related taxes and fees, across a wide variety of services, taxed at different rates by service type, for all government entities including federal, 56 states/territories/districts, 3000+ counties, and 19,000+ municipalities across the nation. Cellular Wholesale POTS Replacement Service - After 10 months of software development throughout 2024, we are starting to accelerate the initial/controlled deployment of our cellular based, wholesale POTS replacement solution, targeting regional telecommunications carriers and resellers. Our POTS solution is built on top of our proven cloud CPaaS platform, which allows us to provide unique/customized solutions for our customers, typically not available from most POTS providers generally targeting end-users. The market for POTS replacement is large, estimated at between 30 to 35 million legacy POTS lines with a further estimate of seven to 10 million likely to switch to a new POTS solution. Deployment has been progressing well. During our controlled roll-out period, we are now managing over 600 active POTS lines for a select number of carriers/resellers, while we validate various configurations within our cloud platform." McEwen closed, "The challenges and unpredictable behavior of Congress during 2024 certainly negatively impacted our business, but we have been able to shift our development and sales efforts into new areas of expansion, and related to the loss of ACP, we continue to believe the worst is behind us. We believe that one of our strong advantages is that from our proven wholesale cloud (CPaaS) platform, we are able to provide a wide variety of services including termination/origination, SIP, SMS, POTS, Mobile Data, and Mobile Voice solutions, now with a fully integrated reseller billing system. We have already entered into wholesale agreements with a group of carriers/resellers who have over 35,000 existing POTS lines, which they plan to migrate. Our new wholesale POTS service provides a stable, sticky (very low churn), predictable recurring revenue line of business. Management's focus on our CPaaS business has put us well on our way derisking the Company through creating multiple streams of stable, high margin, low attrition recurring revenue services." Quarterly Financial Summary (Q1 2025 vs. Q1 2024) Revenue of $2.2 million, a decrease of 61.5% compared to $5.6 million for reasons discussed above. The decrease in revenue was primarily due to the loss of mobile services revenues under the ACP Program, which ended on June 1, 2024. Gross profit was $651,893, or 30.1% gross profit margin, compared to $1.1 million, or 20.0% gross profit margin. This increase primarily resulted from adding higher ARPU activations in our Mobile Services segment, and sourcing lower compensation and network costs. Total operating expenses were $1.6 million, compared to $1.97 million. This decrease was primarily due to lower payroll and related expenses associated with the reduction of headcount in our IM Telecom subsidiary in the fourth quarter of 2024. GAAP net loss was $(917,528) million, or $(0.02) per diluted share (based on 43.5 million weighted average shares), compared to net income of $8.1 million, or $0.19 per diluted share (based on 43.6 million weighted average shares). Non-GAAP net loss was $(916,170), or $(0.02) per diluted share, compared to Non-GAAP net income of $8.4 million, or $0.19 per diluted share. Balance Sheet The Company ended the quarter with $2.1 million in cash, compared to $1.7 million on December 31, 2024. This increase was due to a corresponding reduction in accounts receivable due from a significant customer. Year-to-Date Financial Detail (First Three Months of 2025 vs. First Three Months of 2024) Revenues decreased 61.5% to $2.2 million compared to $5.6 million, reflecting a 3.5% decrease in Hosted Services revenues and an 82.2% decrease in Mobile Services revenues. Gross profit was $651,893, or 30.1% gross profit margin, compared to gross profit of $1.1 million, or 20.0% gross profit margin. This increase in gross profit margin percentage primarily resulted from adding a higher percent of activations in the California market in our Mobile Services segment, and sourcing lower per subscriber equipment and network costs. Total operating expenses were $1.6 million, down (19.9%) compared to $1.97 million. This decrease was primarily due to lower payroll and related expenses associated with the reduction of headcount in our IM Telecom subsidiary. GAAP net loss was $(917,528) or $(0.02) per diluted share (based on 43.5 million weighted average shares), compared to net income of $8.1 million, or $0.19 per diluted share (based on 43.6 million weighted average shares). This decrease was a result of the gain on sale recognized as part of our sale of 49% interest in IM Telecom in the first quarter of 2024. Non-GAAP net loss was $(916,170) million, or $(0.02) per diluted share, compared to non-GAAP net income of $8.4 million, or $0.19 per diluted share. About KonaTel KonaTel provides a variety of retail and wholesale telecommunications services, including mobile voice/text/data service supported by national U.S. mobile networks, mobile numbers, SMS/MMS services, IoT mobile data service, and a range of hosted cloud services. KonaTel's subsidiary, Apeiron Systems ( is a global cloud communications service provider employing a dynamic "as a service" (CPaaS/UCaaS/CCaaS/PaaS) platform. Apeiron provides voice, messaging, SD-WAN, and platform services using its national cloud network. All Apeiron's services can be accessed through legacy interfaces and rich communications APIs. KonaTel's other subsidiary, Infiniti Mobile ( is an FCC authorized national wireless ACP and Lifeline carrier with an FCC approved wireless Lifeline Compliance Plan, licensed to provide government subsidized cellular service to low-income American families across thirty-six (36) states. KonaTel is headquartered in Plano, Texas. Safe Harbor Statement This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this Press Release. This Press Release should be considered in light of the disclosures contained in the filings of KonaTel and its "forward-looking statements" in such filings that are contained in the EDGAR Archives of the SEC at Contacts D. Sean McEwen(214) 323-8410inquiries@ -- Unaudited Balance Sheets and Statements of Operations Follow - KonaTel, Balance Sheets(unaudited) March 31, 2025 December 31, 2024 Assets Current Assets Cash and Cash Equivalents $ 2,098,383 $ 1,679,345 Accounts Receivable, Net 563,465 1,533,015 Inventory, Net 148,732 163,063 Prepaid Expenses 79,181 94,496 Other Current Assets 147,771 112,170 Total Current Assets 3,037,532 3,582,089 Property and Equipment, Net 14,345 15,128 Other Assets Intangible Assets, Net 323,468 323,468 Right of Use Asset 287,345 319,549 Notes Receivable 850,000 1,000,000 Other Assets 74,328 74,328 Total Other Assets 1,535,141 1,717,345 Total Assets $ 4,587,018 $ 5,314,562 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable and Accrued Expenses $ 2,261,430 $ 2,277,597 Right of Use Operating Lease Obligation - Current 101,934 113,740 Income Tax Payable 184,051 184,051 Total Current Liabilities 2,547,415 2,575,388 Long Term Liabilities Right of Use Operating Lease Obligation - Long Term 206,396 227,776 Total Long Term Liabilities 206,396 227,776 Total Liabilities 2,753,811 2,803,164 Commitments and Contingencies Stockholders' Equity Common stock, $.001 par value, 50,000,000 shares authorized 43,526,417 outstanding and issued at March 31, 2025 and 43,503,658 outstanding and issued at December 31, 2024 43,527 43,504 Additional Paid In Capital 10,455,081 10,215,767 Accumulated Deficit (8,665,401 ) (7,747,873 ) Total Stockholders' Equity 1,833,207 2,511,398 Total Liabilities and Stockholders' Equity $ 4,587,018 $ 5,314,562 KonaTel, Statements of Operations(unaudited) Three Months Ended March 31, 2025 2024 Revenue $ 2,168,714 $ 5,635,836 Cost of Revenue 1,516,821 4,508,332 Gross Profit 651,893 1,127,504 Operating Expenses Payroll and Related Expenses 1,110,699 1,452,100 Operating and Maintenance 1,421 1,544 Credit Loss - 1,448 Professional and Other Expenses 157,431 110,223 Utilities and Facilities 46,411 50,786 Depreciation and Amortization 782 2,449 General and Administrative 49,986 61,395 Marketing and Advertising 5,085 33,996 Application Development Costs 178,529 206,083 Taxes and Insurance 31,194 54,435 Total Operating Expenses 1,581,538 1,974,459 Operating Loss (929,645 ) (846,955 ) Other Income and Expense Gain on Sale - 9,247,726 Interest Expense (576 ) (104,329 ) Other Income/(Expense), net 12,693 (63,930 ) Total Other Income 12,117 9,079,467 Income (Loss) Before Income Taxes (917,528 ) 8,232,512 Income Tax Expense - 149,428 Net Income (Loss) $ (917,528 ) $ 8,083,084 Earnings (Loss) per Share Basic $ (0.02 ) $ 0.19 Diluted $ (0.02 ) $ 0.19 Weighted Average Outstanding Shares Basic 43,526,417 43,180,747 Diluted 43,526,417 43,601,328 SOURCE: KonaTel View the original press release on ACCESS Newswire
