AtmanCo Inc.
TSX VENTURE : ATW

AtmanCo Inc.

November 24, 2016 09:00 ET

AtmanCo Releases Third-Quarter 2016 Financial Results

MONTREAL, QUEBEC--(Marketwired - Nov. 24, 2016) - AtmanCo inc. ("AtmanCo" or the "Company") (TSX VENTURE:ATW) announces its results for the quarter ended September 30, 2016.

Highlights:

  • For the quarter ended September 30, 2016, the Company announced revenues of $282,659 compared to revenues of $276,913 for 2015 comparable quarter.
  • As of September 30, 2016, the Company's order book totalled $829,507 compared to $693,422 as of September 30, 2015.
  • Following the quarter ended September 30, 2016, the Company completed the previously announced acquisition of RNIS Telecommunications inc. ('VoxTel') for a total purchase price of $3.0 million including $1.45 million paid cash at closing.
  • Following the quarter ended September 30, 2016, the Company has raised convertible debenture and equity financings for a total of $2.65 million.

"The acquisition of VoxTel is an important step forward for AtmanCo, one which should allow us to accelerate the commercialization of our mass market solutions through the integration of Voxtel's online dating website (Québec Rencontres), the cross-selling opportunities between dating customers, the additional payment solutions and their valuable database. Furthermore, the acquisition and recent financing should also improve AtmanCo's financial flexibility and result predictability seeing as Voxtel has a large recurring customer base. Such developments are essential in delivering on our long-term business goals, in particular, to continue business development, technological advancements and exploring potential acquisition opportunities", said President and CEO of AtmanCo, Michel Guay.

The above data includes a summary of highlights. For further information, please consult the Corporation's interim consolidated financial statement as well as the Management Report for the quarter ended September 30, 2016 at www.sedar.com

Forward-Looking Statements Disclaimer

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

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.

ABOUT ATMANCO

AtmanCo is the publisher of a scientifically validated psychometric test. Through the HR cloud platform or the application program interface (API), the results allow the companies to optimize the talents of their human capital by improving the recruiting and organizational development success rate. AtmanCo's solutions also enable impacting the major consumer market by easily integrating them with our partners' technological solutions.

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