ACT360 Solutions Ltd. (the “Company” or “ACT360 Solutions”) (TSX VENTURE:AKM), a global provider of Online Customer Acquisition software and services, announced its audited financial results for the year ended September 30, 2014.
The 2014 results, compared to 2013 and 2012, are as follows:
| 2014 | 2013 | 2012 | ||||
| Sales | $ | 1,066,497 | $ | 1,153,853 | $ | 715,575 |
| Net income (loss) for the year | $ | (255,432) | $ | 78,456 | $ | 23,702 |
| Earnings (loss) per share, basic and fully diluted | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total assets | $ | 540,831 | $ | 401,921 | $ | 75,979 |
Results are in Canadian dollars and were prepared in accordance with International Financial Reporting Standards.
According to Vincent Wong, CEO of ACT360 Solutions, “2014 was a year of transition for the Company as we sought to diversify our products and services. We outlined a new growth strategy and engaged partners to further these plans, continuing with our previously announced intentions to grow through mergers, acquisitions, and strategic partnerships. We expect that the significant investments made this year will benefit the Company and its shareholders in future years.”
Sales decreased by 8% to $1,066,497 from the 2013 sales of $1,153,853 primarily due to one online university client reallocating its budget into other channels away from the Company’s Student Marketing Services.
On a consolidated basis, the Company incurred a loss of $255,432 compared to net income of $78,456 in 2013 as the Company increased expenditures significantly in anticipation of new product and revenue areas, and in corporate development activities to add long-term shareholder value.
The audited consolidated financial statements and Management Discussion and Analysis for the year ended September 30, 2014 are available at www.sedar.com.
About ACT360 Solutions Ltd.
ACT360 Solutions is a global provider of Online Customer Acquisition software and services. We acquire, manage, and build Online Customer Acquisition businesses that address the specific client acquisition needs of our customers in particular vertical markets.