08:13:16 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Glenbriar Technologies Inc
Symbol GTI
Shares Issued 43,144,909
Close 2015-08-19 C$ 0.01
Market Cap C$ 431,449
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Glenbriar loses $87,385 in nine months to June 30

2015-08-31 15:19 ET - News Release

Mr. Robert Matheson reports

GLENBRIAR REPORTS 2015 Q3 RESULTS

Glenbriar Technologies Inc. has released its unaudited financial results for the nine months ended June 30, 2015.

                                          Nine months ended June 30,
                                                 2015          2014

Revenue                                   $ 3,233,679   $ 4,560,923 
Gross profit                                  903,561     1,321,191 
Income from operations                        (54,213)      441,483 
Net income and comprehensive income           (87,385)      416,686 
Net income per share (basic and diluted)  $      0.00   $      0.01 

Glenbriar went live with its updated back-office applications in June, 2015. These new tools automate Glenbriar's business workflow through its entire cycle, from sales process through invoicing and monitoring.

This project has been rolled out in parallel with the company's new cloud data centre infrastructure to completely redefine how it does business, and what products and services it offers to end-users. The process will continue to be tweaked and optimized for the rest of this fiscal year.

Net income decreased to negative $87,385 for the nine months ended June 30, 2015, from the similar 2014 period, due to reduced revenue. These changes reflect shifting of resources from traditional break-fix clients into construction and commissioning of the company's new cloud data centre, as well as reduced economic activity in Alberta.

We seek Safe Harbor.

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