Mr. Hubert Lau reports

TRUSTBIX INC. ANNOUNCES SEPTEMBER 30, 2023 YEAR END FINANCIAL RESULTS

Trustbix Inc. has released financial results for the year ended Sept. 30, 2023, and the related management's discussion and analysis.

For the year ended Sept. 30, 2023, compared with 2022, the company posted:

• Revenue of $2,128,401, up $453,296 or 27.1 per cent;
• Operating expenses of $4,435,699, down $1,205,684 or 21.4 per cent;
• Non-cash operating expenses related to stock-based compensation to incentivize the team and amortization and depreciation expense decreased to $861,361, down $131,600 or 13.3 per cent;
• Excluding these non-cash items, operating expenses decreased by $1,074,084 or 23.1 per cent;
• Overall net loss and comprehensive loss of $3,073,808, down $993,335 or 24.4 per cent.

"Throughout this last summer and fall, the executive team and board of directors considered how best for Trustbix to pivot its business to adapt to the new post-COVID reality. We are delighted to already see the benefits from our aggressive and strategic changes. The company was able to achieve both a 27.1-per-cent increase in revenues combined with a 21.4-per-cent reduction in total operating expenses. The team will continue to execute on our plan throughout 2024," said Hubert Lau, Trustbix chief executive officer.

The company's financial results for the year ended Sept. 30, 2023, and the related MD&A, have been filed and are available on SEDAR+.

About Trustbix Inc.

Trustbix is an agricultural technology company providing gate to plate solutions to create a world where there is more trust, less waste and sustainable practices are rewarded. Its award-winning technologies offer practical tools trusted by local and international agrifood organizations.

We seek Safe Harbor.