PCSV PCS Edventures Com Inc (PK)

 

 

United States Securities and Exchange Commission

 

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

August 13, 2015

Date of Report

[Date of Earliest Event Reported]

PCS EDVENTURES!.COM, INC.

(Exact name of Registrant as specified in its Charter)

 

IDAHO	000-49990	82-0475383
(State or Other Jurisdiction of	(Commission File Number)	(I.R.S. Employer Identification No.)
Incorporation)

 

345 Bobwhite Court, Suite 200

Boise, Idaho 83706

(Address of Principal Executive Offices)

 

(208) 343-3110

(Registrant’s Telephone Number, including area code)

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see general instruction A.2. below):

 

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[  ] Soliciting material pursuant to Rule 14-a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

FORWARD-LOOKING STATEMENTS

 

Except for historical facts, all matters discussed in the Press Release attached to this Current Report, which are forward-looking, involve a high degree of risk and uncertainty. Certain statements in this Press Release set forth management’s intentions, plans, beliefs, expectations, or predictions of the future based on current facts and analyses. When we use the words “believe”, “expect”, “anticipate”, “estimate”, “intend” or similar expressions, we intend to identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated in such statements, due to a variety of factors, risks and uncertainties. Potential risks and uncertainties include, but are not limited to, competitive pressures from other companies within the Educational Industries, economic conditions in the Company’s primary markets, exchange rate fluctuation, reduced product demand, increased competition, inability to produce required capacity, unavailability of financing, government action, weather conditions and other uncertainties, including those detailed in the Company’s SEC filings. The Company assumes no duty to update forward-looking statements to reflect events or circumstances after the date of such statements.

 

Item 7.01 Regulation FD Disclosure.

 

See Item 9.01, Exhibit 99.

 

The information contained in this Item 7.01 and in Exhibit 99 is being furnished, and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under such Section 18.  Furthermore, the information contained in this Item 7.01 and in Exhibit 99 shall not be deemed to be incorporated by reference into our filings under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.

 

Item 9.01 Financial Statements and Exhibits.

 

(b)     Exhibits.

Exhibit No.		Exhibit Description
99		Press Release dated August 13, 2015.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

PCS EDVENTURES!.COM, INC.

 

 

Dated:	August 13, 2015		By:	/s/ Robert Grover
				Robert O. Grover
				CEO

 

 

FOR IMMEDIATE RELEASE

August 13, 2015

 

PCS EDVENTURES POSTS PROFITABLE Q1 EARNINGS FOR FY2016

 

Executive Management Discusses Q1 Profitability and Board Expansion for FY2016

 

Boise, Idaho, August 13, 2015 -- PCS Edventures!.com, Inc. (PCSV), a leader of K-12 STEM Education is excited to announce the results of its 10Q financial results for FY2016 Q1 ended June 30: Total revenues for Q1 were $1,291,219, up 29% from the same quarter in the prior year, which yielded an operating income of $233,000 and a net income of $130,000. The end results for the quarter are demonstrative of significant growth from FY2015.

 

Robert Grover, Co-CEO, said of the results, “PCS is on the right track. Because of commitment to product development, marketing focus, and now having featured products with a nationwide distribution partner, School Specialty, we expect to see increased sales in our STEM products. We’re also excited about new opportunities that we are exploring in advanced robotics such as drones, an area in which we have developed curriculum and supply chain partners.”

 

Russelee Horsburgh, Controller and Vice President, said “In addition to the 29% revenue increase, our ongoing cost-cutting measures contributed to our bottom line results through more effective utilization of resources, and efficient use of marketing dollars. Compared to the same quarter from last year, we reported operating expenses of $124,000 less accomplished through reduction in wages and G&A expenses. As a company, we continue to implement more rigorous programs for driving accountability, efficiency, and growth each quarter to continue this trend of positive earnings.”

 

Todd Hackett, Co-CEO stated, "It is encouraging to see that the efforts put forth to create a positive net income for the business over the last three months have been so successful. It is important that at this stage we aggressively grow the company and continue to innovate. I’m particularly excited about the opportunity that drone sales could bring to the company’s Q3 in the retail space. We are exploring this opportunity carefully. Let me stress that maintaining profitability is key. I feel it is time that all of our shareholders begin reaping the benefits from their continued support of PCSV."

 

PCS also welcomed two new Directors to its Board in Q1 who bring a wealth of experience and value to the company:

 

Ms. Paula LuPriore is a technology CEO with diverse experience as an international business leader for multinational (IBM), mid-market and early stage companies. With a focus on enterprise software, SaaS (Software-as-a-Service), and hardware, Ms. LuPriore has led $multi-billion product portfolios and innovation, launched new businesses in markets worldwide, and led large, complex organizations to achieve results globally. Ms. Lupriore is CEO of WujiTech, Inc., an emerging software company that offers a breakthrough mobile and enterprise-level solution for Neurofeedback and health data analytics.

 

Ms. K. Sue Redman is an Executive Professor in the Accounting Department of Mays Business School at Texas A&M University. Ms. Redman is also the President of Redman Advisors LLC, a private consulting firm specializing in the areas of enterprise risk management, corporate finance, accounting and strategy. Ms. Redman was a Director from 2006 to 2013 of Apollo Group, Inc., a publicly held education provider with annual revenues of $4 billion and which traded on NASDAQ.

 

About PCS Edventures!

PCS Edventures!.com, Inc. (OTCMKTS:PCSV) designs and delivers educational products and services to the K-12 market that develop 21st century skills. PCS programs emphasize hands-on experiences in Science, Technology, Engineering, Arts, and Math (STEAM) and have been deployed at over 7,000 sites in all 50 United States and 17 foreign countries. Additional information on our STEAM products is available at http://www.edventures.com.

 

PCS Edventures is headquartered in Boise, Idaho, and is listed on the OTC Markets platform under the symbol "PCSV."

 

This update includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as PCS Edventures, Inc. or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statement.

 

Contact Information:

Investor Contact: Robert Grover (800) 429-3110, robert@edventures.com

Investor Relations Web Site: pcsv.global

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