AtmanCo Inc.

TSX VENTURE : ATW


AtmanCo Inc.

April 01, 2014 19:00 ET

AtmanCo Announces Annual Results for 2013

MONTREAL, QUEBEC--(Marketwired - April 1, 2014) - AtmanCo Inc. ("AtmanCo" or the "Company") (TSX VENTURE:ATW), a leader and innovator in web psychometric test solutions for recruitment, organizational development and talent measurement within companies, announces its results for the 12 months ending December 31st, 2013.

Highlights for 2013

  • For the year, increased revenue from $575,064 to $1,214,203. Note that the period ending December 31st 2012 consists of 7 months compared to 12 months for December 31st 2013.
  • Increase in deferred revenues of $356,443, from $174,685 on December 31st 2012 to $531,128 on December 31st 2013.
  • Recognition of an impairment loss on intangible assets used in the field of cyberhealth of $418,346.
  • The Company has partnered with the CCAQ and CIIQ to expand its offering in the automotive and real estate market.

"Last year was a significant period of transition for AtmanCo, following the reverse takeover. We focused on license sales, based on the proven AtmanCo solution, while increasing the growth of our human capital." said President and CEO of AtmanCo, Michel Guay.

"Many appointments within our management team have added expertise and knowledge that is beneficial to our business. The powerful diverse expertise that makes up our team helps us meet the increasing needs of many clients in various industries. The contribution of the new members, as well as the growth and integration of new employees have allowed us to achieve our sales targets set for 2013."

"Several activities were carried out during 2013 in order to align our website redesign with our digital marketing strategy and position us to further promote our AtmanCo solution on the web," said President and CEO Atman, Michel Guay.

On February 20th 2014, the Company accepted an offer to sell the assets of the cyberhealth division. The assets include the technology, as well as some patents and trademarks. The Company expects to close the transaction during the second quarter. Following this transaction, the Company expects to receive a total of $ 610,000 in cash from the buyer.


in thousands of $
(except for share amounts)
Dec 31st 2013
$
(12 months)
Dec 31st 2012
$
(7 months)
31 mai 2012
$
(12 mois)
Extracted from the consolidated financial statements
Revenues 1 214 575 500
Net earnings and overall result* (1 629 ) (609 ) (343 )
Net earnings per basic and fully diluted share (0,04 ) (0,03 ) (0,02 )
Cash and cash equivalents 509 1 188 -

*Net earnings and overall results for the twelve months ending December 31st 2013 include amortization of $293,925 and impairment loss on intangible assets in the cyberhealth division for $418,346. The seven-month financial year ending December 31st 2012 includes amortization of $88,683 and the costs related to the reverse takeover for $129,047.

Above data includes a summary of highlights. For further information, please consult the Corporation's consolidated financial statement as well as the Management Report for the fiscal year ending December 31, 2013 at www.sedar.com

Forward looking statements

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. There is a risk that expectations and forward looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company's filings. While AtmanCo anticipates that subsequent events and developments may cause its views to change, AtmanCo specifically disclaims any obligation to update these forward looking statements, unless obligated to do so by applicable securities laws

Additional information regarding the Company are available on SEDAR www.sedar.com

ATMANCO PROFILE

Field of human resources

Using a management interface (Web platform) that is among the most advanced, AtmanCo helps executives and managers recruit qualified human resources by placing the right person in the right position.

By quickly obtaining results of psychometric tests, comparing profiles to job norms and generating complementarity reports, managers are equipped throughout their human resources processes.

The Company stands out in its marketing approach via its Website, direct sales and partner network. For further information, visit www.atmanco.com

The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange's policies) bear no liability as to the relevance or accuracy of this press release.

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