WestBond Posts Slight Loss for Quarter Ended June 30, 2020
August 27 2020 - 5:26PM
WestBond Enterprises Corporation (TSX-V: WBE) is pleased to
announce its second quarter financial results and the official
launch of ViroBan Plus – the company’s new disinfectant wipes.
WestBond has posted a loss of $2,814 for the three months ended
June 30, 2020. This represents a decrease from the profit of
$124,303 for the three months ended June 30, 2019 of 102.3%.
Sales decreased 28.8% to $1,955,341 this year compared to
$2,746,044 for the three months ended June 30, 2019. The
decrease is due to COVID-19 shut-downs in the hospitality industry,
offset by increases in long-term care products and government wage
subsidies.
On a very positive note, WestBond has this week started to ship
orders for its new disinfectant wipe, ViroBan Plus, to major health
care distributers and government ministries. Revenues and profits
are expected to increase significantly from this product.
The quarterly report and other information is available on the
company’s website at www.westbond.ca and on SEDAR at
www.sedar.com.
Cautionary Note Regarding Forward
Looking Statements: This release includes certain
statements and information that constitute forward-looking
information within the meaning of applicable Canadian securities
laws, including statements regarding the Company’s intentions.
Generally, forward-looking statements and information can be
identified by the use of forward-looking terminology such as
“intends” or “anticipates”, or variations of such words and phrases
or statements that certain actions, events or results “may”,
“could”, “should” or “would” occur. Forward-looking statements are
based on certain material assumptions and analysis made by the
Company and the opinions and estimates of management as of the date
of this press release, including the ability to develop markets and
increase profitability. Although the Company considers these
assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements. Such risk factors may include,
among others, changes in operating performance, availability of and
prices for raw materials, availability of trained labour, foreign
currency exchange rate fluctuations, unexpected competition and
other technical, market and economic factors. Although
management of the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. 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 forward-looking statements and forward-looking
information. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The Company
does not undertake to update any forward-looking statement,
forward-looking information or financial out-look that is
incorporated by reference herein, except in accordance with
applicable securities laws. We seek safe harbour.
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.
For further information please contact:
Gennaro Magistrale
Chief Executive Officer, President and Director
WestBond Enterprises Corporation
101 – 7403 Progress Way, Delta, B.C. V4G 1E7
Tel: (604) 940-3939
WestBond Enterprises (TSXV:WBE)
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