ACT360 Solutions Ltd.
TSX VENTURE : AKM

ACT360 Solutions Ltd.

January 27, 2016 17:00 ET

ACT360 Solutions Announces Fourth Quarter and 2015 Full Year Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2016) - 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 quarter and year ended September 30, 2015. Results are in Canadian dollars and were prepared in accordance with International Financial Reporting Standards.

Three Months Ended
Sept 30, 2015
Three Months Ended
Sept 30, 2014
Sales $ 399,870 $ 229,299
Net income (loss) for the year $ (170,205) $ (121,679)
Earnings (loss) per share, basic and fully diluted $ (0.01) $ 0.00

During the quarter, Student Marketing Service revenue increased as a result of an increase in overall activity by university clients as well as the favourable exchange rate received on US dollar denominated sales, ending the year up by 22% compared to the prior year. Internet Application revenue increased by 14% overall. Custom software development decreased during the quarter, resulting in an overall 18% decrease during the year. Other revenue increased 7% overall during the year.

The 2015 full year results, compared to 2014 are as follows:

Twelve Months Ended
Sept 30, 2015
Twelve Months Ended
Sept 30, 2014
Sales $ 1,212,207 $ 1,066,497
Net income (loss) for the year $ (607,585) $ (255,432)
Earnings (loss) per share, basic and fully diluted $ (0.03) $ (0.01)

The most significant element of the Company's operating loss was the $309,342 increase in corporate development expenses as the Company actively pursued its growth-by-acquisition strategy.

The audited consolidated financial statements and Management Discussion and Analysis for the year ended September 30, 2015 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.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding future plans and objectives of ACT360 Solutions Ltd. - are forward-looking statements that are subject to various risks and uncertainties. Forward-looking statements are based on current expectations and analyses, including the effects of anticipated product, service, and distribution changes and the potential benefits of such efforts and activities on the Company's results of operations in future periods. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

Neither 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.

Contact Information

  • ACT360 Solutions Ltd.
    Vincent Wong
    President
    (604) 638-1553 ext. 1
    www.act360.com