Enssolutions Group Announces First Quarter Financial Results
May 23 2018 - 4:15PM
Enssolutions Group Inc. (TSXV:ENV.H) (OTC Pink:NSLSF)
(“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 Interim Unaudited Consolidated Financial
Statements for the three months ended March 31, 2018, and the
comparative 2017 first quarter along with management’s discussion
and analysis.
Financial Results
Certain of the Company's financial results for
the quarters ending March 31, 2018 and March 31, 2017 are presented
in the table below:
|
|
|
For the Three Months Ended March
31, |
|
2018 |
2017 |
Revenue |
$ 327,622 |
$
259,725 |
Operating
Loss |
(506,481) |
(497,911) |
Net
Loss |
$ (579,663) |
$ (559,965) |
Basic and
diluted loss per share |
(0.01) |
(0.01) |
|
March 31, 2018 |
March 31, 2017 |
Assets |
$ |
542,065 |
$ |
1,015,179 |
Liabilities |
$ |
8,663,844 |
$ |
7,846,172 |
Shareholders’ deficit
|
$ |
(8,121,779) |
$ |
(6,830,993) |
|
|
|
The Company’s consolidated financial statements
and MD&A for the quarter ended March 31, 2018 are available at
www.sedar.com.
About Enssolutions
Enssolutions manufactures, distributes and
applies environmentally responsible products to meet a wide variety
of industrial and commercial market demands. Enssolutions provides
engineered environmental solutions for mine tailings control,
process dust and erosion control, granular stabilization, road
construction/maintenance and stockpile sealing. It has production
facilities in Beamsville, Ontario and Glendale, Arizona that
service some of North America's largest mining, steel, cement, and
road construction/maintenance companies as well as numerous public
road authorities.
For more information on Enssolutions, please
visit www.enssolutions.com.
Certain information in this news release
constitutes forward-looking statements. When used in this news
release, the words "may", "would", "could", “should”, "will",
"intend", "plan", "anticipate", "believe", "seek", "propose",
"estimate", "expect", and similar expressions, as they relate to
the Company, are intended to identify forward-looking statements.
In particular, this news release contains forward-looking
statements with respect to, among other things, business
objectives, expected growth, results of operations, performance,
business projects and opportunities and financial results. These
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. Such statements reflect the Company's current views
with respect to future events based on certain material factors and
assumptions and are subject to certain risks and uncertainties,
including without limitation, changes in market, competition,
governmental or regulatory developments, general economic
conditions and other factors set out in the Company's public
disclosure documents. Many factors could cause the Company's actual
results, performance or achievements to vary from those described
in this news release, including without limitation those listed
above. These factors should not be construed as exhaustive. Should
one or more of these risks or uncertainties materialize, or should
assumptions underlying forward-looking statements prove incorrect,
actual results may vary materially from those described in this
news release and such forward-looking statements included in, or
incorporated by reference in this news release, should not be
unduly relied upon. Such statements speak only as of the date of
this news release. The Company does not intend, and does not assume
any obligation, to update these forward-looking statements. The
forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
For Further Information:
James D. Staudohar, President and Chief
Executive Officert: (877) 520-6767e: jims@enssolutions.com
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.