Axiologix Issues Second Quarter And First Half Results. Revenues Up
26% Quarter On Quarter; Positive Income And Cash From Operations In
Quarter
SARASOTA, Fla.,
Jan. 18, 2013 /PRNewswire/ --
Axiologix, Inc. (www.axiologix.net), (AXLX.PK) an International
Technology and Services Organization focused on delivering 'Cloud'
Products and Services, today announced that it has filed unaudited
results for the three and six months ended November 30, 2012, via the OTC Markets Disclosure
& News Service.
Key results were:
Revenues were $261,128 for the
three months ended November 30, 2012
(the "Current Quarter"), an increase of 26% over the last quarter
ended August 31, 2012 and
$468,728 for the six months, bringing
revenues since inception to $655,867.
Gross margins maintained at 95%.
Earnings before interest, taxes, depreciation and
amortization (EBITDA) was a positive $27,498 for the Current Quarter, as opposed to a
loss of $80,797 for the previous
quarter ended August 31,
2012.
Operating income for the Current Quarter was $2,397 as opposed to a loss of $101,986 for the previous quarter ended
August 31, 2012.
Net loss for the Current Quarter was $84,917 as opposed to $209,942 for the previous quarter ended
August 31, 2012.
Generated positive cash flows from operations of $25,127 for the six months ended November 30, 2012 and $61,601 since inception.
Cash increased by $1,956 for
the six months ended November 30,
2012.
Full details of the Company's Quarterly Report can be found
at http://www.otcmarkets.com/stock/AXLX/financials.
Vincent Browne, Chairman and
Chief Executive of Axiologix, Inc., said, "This has been a very
strong quarter for us in delivering against our operational targets
and in maintaining a positive operational cash flow position. We
continue to focus in the near term on growing organically with our
new subsidiary Axiocomm and reducing our debt. As previously
announced, we are also at advanced discussions with a number of
potential acquisitions, each of which would be earnings enhancing
if completed. We also previously announced our intention to seek a
listing on OTC QB tier and that remains our goal. We had hoped to
have re-registered our common stock with the SEC last October but
have decided to defer that activity at this time to avoid the
increased operating costs associated with such a listing. We now
plan to move to the higher tier of the OTC Markets in conjunction
with the completion of the planned acquisitions when we would have
more scale to cover the increased costs and also attract better
terms from prospective funders by such uplift. We will also be
enhancing our shareholder communications in the near future by
engaging more actively in social media channels and we look forward
to announcing these in due course."
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 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.