SARASOTA, Fla., Sept. 16, 2013 /PRNewswire/ -- Axiologix, Inc.
(www.axiologix.net) (Pinksheets:AXLX), an International Technology
and Services Organization focused on delivering 'Cloud' Products
and Services, today announced that it has recently filed unaudited
results for the twelve months ended May 31,
2013, via the OTC Markets Disclosure & News Service.
Key results of the unaudited results were:
- Revenues of $901,673 for
the year ended May 2013 versus
$187,139 revenues for the previous
year.
- Gross margins remained at 95% for the current year, same
as the previous year.
- EBITDA for the current year was a loss of $580,116 versus a loss of $53,767 in 2012.
- Net loss for the year ending May
31, 2013 was $1,035,157, down
slightly from $1,047,607 from the
previous year.
- Cash used in operations for the twelve months to
May 31, 2013 was $88,455, versus cash generated from operations
for the twelve months to May 31, 2012
of $61,166.
- Cash decreased by $12,605
for the twelve months ended May 31,
2013.
- Total assets increased by 56% while working capital
deficit reduced by 77% and total debt reduced by 8% during the
twelve months ending May
2013.
Full details of the Company's Annual Report are accessible
at http://www.otcmarkets.com/stock/AXLX/filings
Vincent Browne, Chairman
and Chief Executive of Axiologix Inc. said, "Our results for the
financial year ended May 31, 2013
show solid progress in key areas of revenue growth, cash management
and balance sheet development. Whereas the revenues were less than
we forecasted for the full year they still came it at nearly five
times the previous year, primarily due to the effect of reporting a
full year from our Irish operations. We will continue to manage the
resources we have wisely while we seek to grow the business both
organically and by acquisition. We continue to progress our
previously announced acquisitions and expect to have an update on
the status of these initiatives later this month."
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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 Securities and Exchange Commission and 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.