21:57:27 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



ATI Airtest Technologies Inc (2)
Symbol AAT
Shares Issued 222,672,582
Close 2023-08-29 C$ 0.015
Market Cap C$ 3,340,089
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ATI Airtest loses $58,437 in Q2

2023-08-30 14:49 ET - News Release

Mr. Ted Konyi reports

AIRTEST IMPROVES SALES AND PROFITABILITY IN SECOND QUARTER

ATI Airtest Technologies Inc. has filed its second quarter 2023 financial statements and management discussion and analysis.

Revenues for the quarter ended June 30, 2023 improved by 7.6% over the comparable quarter in 2022. The improvement in revenue is the first indication of some of the initiatives commenced in the beginning of 2023 by Lorne Stewart, President. In addition, cost cutting measures and an increase in product pricing resulted in a significant reduction in the net loss to $58,437 for the quarter ended June 30, 2023 which was 79.4% lower than the $283,682 operating loss reported for the quarter ended June 30, 2022. The balance sheet showed an improvement as well with a reduction in outstanding liabilities of $454,835 or 7.4%. It is important to note that greater than 80% of the outstanding liabilities are scheduled and bear no interest expense or repayment. Repayment only begins once the Company has three consecutive profitable quarters.

Lorne Stewart, President, commented, "The improvements in the financials are the first indications for the fundamental changes that we have implemented. Those changes include sales efforts being directed towards commercial applications of Demand Control Ventilation with end users. We have many pilots underway and early indications are very positive that they will lead to multilocation implementations. I expect the 3rd quarter to further demonstrate the new direction the company is taking will be financially rewarding."

About Airtest: Airtest Technologies is a Green-Tech company specializing in Demand Control Ventilation systems that improve commercial building operating efficiency and generate proven energy savings. The Company has developed new wireless sensors with dynamic real-time communication and control technologies, which builds upon ten years of experience and thousands of installations amongst clients such as Lowe's, Shoppers Drug Mart and Ikea. Airtest solutions provide data on levels of Indoor Air Quality required by Schools, Retail Stores and Offices.

We seek Safe Harbor.

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