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Eddy Smart Home Solutions Ltd
Symbol	EDY
Shares Issued	79,528,619
Close 2023-07-04	C$ 0.04
Market Cap	C$ 3,181,145
Recent Sedar+ Documents

Eddy Smart loses $2.05M in Q1 2023, $2.12M in Q2 2023

2023-09-14 16:53 ET - News Release

Subject: Press Release Dissemination - Eddy Smart Home Solutions Ltd. PDF Document File: Attachment Eddy News Release Announcing Filing of 2023 Q1 and Q2 Financials_v2.pdf Eddy Smart Home Solutions Ltd. Announces Filing of Q1 2023 and Q2 2023 Interim Condensed Consolidated Financial Statements and Related Materials September 14, 2023, TORONTO, CANADA Eddy Smart Home Solutions Ltd. ("Eddy" or the "Company") (TSXV: EDY), announces today the filing on SEDAR of its interim condensed consolidated financial statements for the period ended March 31, 2023 (the "Q1 Financials") and June 30, 2023 (the "Q2 Financials"), the related management's discussion and analysis relating to the Q1 Financials and Q2 Financials, and the related officer certifications of the Company relating to the Q1 Financials and Q2 Financials (collectively, the "Financial Materials"). The Company also announces that, with the filing of the Financial Materials, it has contacted its principal regulator, the Ontario Securities Commission, to have the Cease Trade Order of July 7, 2023 lifted, which ceased trading in the securities of the Company. REVENUE Revenue for the three months ended March 31, 2023, increased by $523,943 to $942,364 as compared to $418,421 reported for March 31, 2022. Revenue for the three months ended June 30, 2023, decreased by $5,551 to $540,260 as compared to $545,811 reported for the three months ended June 30, 2022. Revenue for the six months ended June 30, 2023, increased by $518,392 to $1,482,624 as compared to $964,232 reported for the comparable six months ended June 30, 2022. NET LOSS Net loss for the three months ended March 31, 2023, was ($2,052,292), as compared to ($3,454,299) reported for the three months ended March 31, 2022. Net loss for the three months ended June 30, 2023, was ($2,129,532), as compared to ($2,597,474) reported for the three months ended June 30, 2022. Net loss for the year six months ended June 30, 2023, was ($4,181,826), as compared to ($6,051,771) reported for the six months ended June 30, 2022. BASIC AND DILUTED LOSS PER SHARE Basic and diluted loss per share for the three months ended March 31, 2023, was ($0.03), as compared to ($0.06) reported for the three months ended March 31, 2023. Basic and diluted loss per share for the three months ended June 30, 2023, was ($0.03), as compared to ($0.03) reported for the three months ended June 30, 2022. Basic and diluted loss per share for the six months ended June 30, 2023, was ($0.05), as compared to ($0.09) reported for the six months ended June 30, 2022. ABOUT EDDY Eddy is a North American provider and developer of residential and commercial smart water metering products and monitoring services, helping property owners protect, control, and conserve water usage by combining water sensing devices with behavioural learning software. For more detail on the Company's products or corporate information please visit www.eddysolutions.com. For further information on the financial results of the Company, please review the Company's unaudited condensed consolidated interim financial statements and management's discussion and analysis of the financial condition and results of operations for the three and six months ended June 30, 2023, available on Eddy's SEDAR website at www.sedar.com. In addition, supplemental information is available on Eddy's website at www.eddysolutions.com/investors. FORWARD-LOOKING INFORMATION AND STATEMENTS This news release contains forward-looking statements within the meaning of applicable securities laws including, among others, statements concerning our objectives, our strategies to achieve those objectives, our performance, as well as statements with respect to management's beliefs, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intent", "estimate", "anticipate", "believe", "should", "plans", or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Forward looking information in this news release include statements relating to the lifting of the Cease Trade Order. These statements are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described under the heading "Risk Factors" in the Company's filing statement dated January 6, 2022 (a copy of which can be obtained at www.sedar.com), which could cause our actual results and performance to differ materially from the forward-looking statements contained in this news release. All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. For further information, please contact: Mark Silver, Executive Chairman and Chief Executive Officer Tel: 416.221.8998 Email: ir@eddysolutions.com Word Document File: '\\swfile\EmailIn\20230914 134032 Attachment Eddy News Release Announcing Filing of 2023 Q1 and Q2 Financials_v2.docx' Eddy Smart Home Solutions Ltd. Announces Filing of Q1 2023 and Q2 2023 Interim Condensed Consolidated Financial Statements and Related Materials September 14, 2023, TORONTO, CANADA - Eddy Smart Home Solutions Ltd. ("Eddy" or the "Company") (TSXV: EDY), announces today the filing on SEDAR of its interim condensed consolidated financial statements for the period ended March 31, 2023 (the "Q1 Financials") and June 30, 2023 (the "Q2 Financials"), the related management's discussion and analysis relating to the Q1 Financials and Q2 Financials, and the related officer certifications of the Company relating to the Q1 Financials and Q2 Financials (collectively, the "Financial Materials"). The Company also announces that, with the filing of the Financial Materials, it has contacted its principal regulator, the Ontario Securities Commission, to have the Cease Trade Order of July 7, 2023 lifted, which ceased trading in the securities of the Company. REVENUE Revenue for the three months ended March 31, 2023, increased by $523,943 to $942,364 as compared to $418,421 reported for March 31, 2022. Revenue for the three months ended June 30, 2023, decreased by $5,551 to $540,260 as compared to $545,811 reported for the three months ended June 30, 2022. Revenue for the six months ended June 30, 2023, increased by $518,392 to $1,482,624 as compared to $964,232 reported for the comparable six months ended June 30, 2022. NET LOSS Net loss for the three months ended March 31, 2023, was ($2,052,292), as compared to ($3,454,299) reported for the three months ended March 31, 2022. Net loss for the three months ended June 30, 2023, was ($2,129,532), as compared to ($2,597,474) reported for the three months ended June 30, 2022. Net loss for the year six months ended June 30, 2023, was ($4,181,826), as compared to ($6,051,771) reported for the six months ended June 30, 2022. BASIC AND DILUTED LOSS PER SHARE Basic and diluted loss per share for the three months ended March 31, 2023, was ($0.03), as compared to ($0.06) reported for the three months ended March 31, 2023. Basic and diluted loss per share for the three months ended June 30, 2023, was ($0.03), as compared to ($0.03) reported for the three months ended June 30, 2022. Basic and diluted loss per share for the six months ended June 30, 2023, was ($0.05), as compared to ($0.09) reported for the six months ended June 30, 2022. ABOUT EDDY Eddy is a North American provider and developer of residential and commercial smart water metering products and monitoring services, helping property owners protect, control, and conserve water usage by combining water sensing devices with behavioural learning software. For more detail on the Company's products or corporate information please visit www.eddysolutions.com. For further information on the financial results of the Company, please review the Company's unaudited condensed consolidated interim financial statements and management's discussion and analysis of the financial condition and results of operations for the three and six months ended June 30, 2023, available on Eddy's SEDAR website at www.sedar.com. In addition, supplemental information is available on Eddy's website at www.eddysolutions.com/investors. FORWARD-LOOKING INFORMATION AND STATEMENTS This news release contains forward-looking statements within the meaning of applicable securities laws including, among others, statements concerning our objectives, our strategies to achieve those objectives, our performance, as well as statements with respect to management's beliefs, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intent", "estimate", "anticipate", "believe", "should", "plans", or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Forward looking information in this news release include statements relating to the lifting of the Cease Trade Order. These statements are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described under the heading "Risk Factors" in the Company's filing statement dated January 6, 2022 (a copy of which can be obtained at www.sedar.com), which could cause our actual results and performance to differ materially from the forward-looking statements contained in this news release. All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. For further information, please contact: Mark Silver, Executive Chairman and Chief Executive Officer Tel: 416.221.8998 Email: ir@eddysolutions.com