Stockwatch

Certive Solutions Inc
Symbol	CBP
Shares Issued	169,145,135
Close 2023-10-03	C$ 0.02
Market Cap	C$ 3,382,903
Recent Sedar+ Documents

Certive files fiscal 2023 results, has net loss

2023-10-04 16:50 ET - News Release

Subject: Press Release PDF Document File: Attachment Certive Announces Fiscal Year End Audit 2023.pdf FOR IMMEDIATE RELEASE October 4, 2023 Certive Announces Timely Completion of Fiscal Year Audit Scottsdale Arizona and Vancouver British Columbia Certive Solutions Inc. (OTCQB:CTVEF CSE:CBP) ("Certive" or the "Company") is pleased to announce the following: Audit Filings Completed Certive announces that the audit of its consolidated financial statements for the year ended May 31, 2023, has now been completed, and the statements, along with the accompanying managements' discussion & analysis ("MD&A") and officer certifications have been timely filed with its regulators. Readers are encouraged to view these materials under the profile for the Company on the SEDAR website (www.sedar.com). Tim Hyland, CFO of Certive stated, "I am pleased to report the Company's consolidated net loss improved approximately $950,000 over the prior year due primarily to cost saving initiatives of the Company. I want to acknowledge the fine work of Davidson & Company LLP, which resulted in a restatement of the prior year consolidated financial statements due to the incorrect financial accounting previously used for certain restricted assets. We look forward to extending our relationship for additional years subject to shareholder approval. In addition, the bookkeeping and other accounting services provided by CPAForHire have been extremely professional and much appreciated!" Company's Fiscal Year Ended May 31, 2023: dot The Company reported revenue of approximately $1,270,374 for the year ended May 31, 2023, which was approximately 6% higher than the prior fiscal year. dot The Company continued to make progress reducing the cost of revenue and operating expenses during the fiscal year by $823,427 or approximately 20%. dot The combined effect of increasing revenues and decreasing costs and expenses along with improving other income resulted in a net loss for the fiscal year of $1,670,131 compared to $2,626,271, an improvement in the net loss of approximately $956,140 over the prior fiscal year. dot In May 2023, the Company offered corporate executives and certain consultants the ability to settle the amount owed them with common stock of the Company at $0.08/share. The Company issued 7,460,000 to settle $596,800 of debt. In addition, a convertible debt holder converted $90,665 of debt into 1,511,102 of common stock of the Company at $0.06/share. dot Subsequent to May 31, 2023, the Company has received funds towards its current private placement offering of $50,000 and advances from the CEO and CFO totaling $101,345 to help fund the Company's working capital needs. Certive Health Inc. | 480-922-5327 | 8149 N. 87th Place | Scottsdale AZ | 85258 Tom Marreel, CEO and Charmain of Certive also commented, "I wanted to acknowledge and personally thank my Executive Leadership Team and Certive's Management Consultants for their continued support and commitment to Certive while receiving no financial compensation, and only accruing very small monthly salaries. It clearly illustrates their level of belief and dedication to achieving Certive's goals while realizing our shared objectives of improving healthcare and driving shareholder value." For more information regarding this announcement, please visit our website at https://certivehealth.com or contact Certive directly at (480) 228-5881. Scott Thomas Senior Vice President sthomas@certive.com About Certive Solutions Inc. Certive Solutions Inc. (Scottsdale, Arizona) is currently 100% focused on the operations and value proposition of its wholly owned subsidiary, Certive Health Inc., and its subsidiaries, Certive Health Revenue Solutions and Certive Health Compliance Solutions. With identical Board of Directors, Management, Advisory Council, Mission and Vision, Certive Solutions is strategically positioned as a public company. All Advisors and Board Members are investors in the company all have significant networks. Their collective experience, expertise, and relationships is the people-equity upon which the company was founded. Certive Health's vision is making the $3.7 trillion healthcare market better by applying its People-Equity and Capital to create new technologies and solutions for the healthcare communities it serves. Certive Health's revenue cycle services assist hospitals with the complexity of the reimbursement process and improve their financial and quality performance. Certive Health's cybersecurity solutions allow health care providers to protect their networks, their data, and their patients from malicious agents and aggressors. FORWARD-LOOKING STATEMENTS Statements contained in this report that are not statements of historical fact are intended to be and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by the Reform Act. Forward-looking statements include expressed expectations of future events and the assumptions on which the expressed expectations are based. All forward looking statements are inherently uncertain as they are based on various expectations and assumptions concerning future events and they are subject to numerous known and unknown risks and uncertainties which could cause actual events or results to differ materially from those projected. Due to those uncertainties and risks, the investment community is urged not to place undue reliance on written or oral forward-looking statements of Certive Solutions Inc. The Company undertakes no obligation to update or revise this Safe Harbor Compliance Statement for Forward- Looking Statements (the "Safe Harbor Statement") to reflect future developments. In addition, Certive undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. Certive Health Inc. | 480-922-5327 | 8149 N. 87th Place | Scottsdale AZ | 85258 2