VANCOUVER, Jan. 12, 2016 /CNW/ - Tinkerine Studios Ltd. ("Tinkerine" or the "Company") (TSXV: TTD, FSE: WKN WB6B and OTC: TKSTF) is pleased to announce record sales for the fiscal year ended December 31, 2015 of approximately $1,268,000 (unaudited, see cautionary note), a 270% increase versus the comparable period sales of $343,000 for the year ended December 31, 2014. During Q4 2015, Tinkerine recorded sales of $349,000, a 236% increase over Q4 2014 sales of $104,000. Higher sales during 2015 are attributable to increasing demand for the Tinkerine Ditto Pro 3D printer, filament consumable and associated software downloads from TinkerineU, which is Tinkerine's content sharing platform advocating hands-on learning with 3D printing.
President and CEO Eugene Suyu states; "We are very pleased with the growth of Tinkerine in 2015 and the continuing interest from the education sector. Our team at Tinkerine is developing new relationships with members of the education community, with a focus on STEAM (Science, Technology, Education, Arts and Mathematics) based education content. In addition to identifying and fostering new relationships, we are receiving new requests for methods to incorporate 3D printing into everyday activities. We are proud to give new users the opportunity to build up a foundation of skillsets in 3D printing, and will continue to develop new content for advancing educational content. I want to thank all shareholders and stakeholders for their support and look forward to delivering continued success and accelerated growth."
Sales Performance by Quarter
|
| 2015 |
| 2014 |
| % change |
Q1 |
| $108,000 |
| $86,000 |
| 26% |
Q2 |
| $345,000 |
| $54,000 |
| 532% |
Q3 |
| $466,000 |
| $99,000 |
| 371% |
Q4 |
| $349,000 |
| $104,000 |
| 236% |
In addition, Tinkerine added new dealers and distributors during Q4 2015, with an expectation of orders from these new partners during the first half of 2016.
WARRANTS AND OPTIONS
During Q4 2015, Tinkerine had 13,156,675 warrants expire and 40,000 warrants were exercised, leaving no warrants outstanding. As of December 31, 2015, the Company had 42,638,349 shares outstanding. The Company recently applied for and received TSX Venture Exchange ("TSXV") approval to re-price all 2,425,000 outstanding options to an exercise price of $0.075. With respect to 950,000 options held by officers and directors, ratification by disinterested shareholders is required under TSXV rules and will be sought at the Company's next Annual General Meeting in Q2 2016.
ABOUT TINKERINE STUDIOS LTD.
Tinkerine Studios designs and manufactures user-friendly award winning 3D printers and software, with a focus on STEAM based educational content and online training tools. Tinkerine also manufactures its own line of high purity filament for 3D printers.
Tinkerine and Ditto are registered trademarks of Tinkerine Studios Ltd., all rights reserved.
Additional information on the Company can be found on the Tinkerine website at www.tinkerine.com or at www.sedar.com. All sales figures are in Canadian dollars.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTES
Readers are cautioned that sales information is unaudited, and the Company's financial statements for the year ended December 31, 2015 are required to be filed by April 29, 2016 and such sales information could be subject to revision.
SOURCE Tinkerine Studios Ltd.
Image with caption: "Ditto Pro 3D Printer (CNW Group/Tinkerine Studios Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160112_C8565_PHOTO_EN_596178.jpg
Martin Burian, Chief Financial Officer, T: 604-288-8778 x 205, E: martin@tinkerine.com; Dean Stuart, Investor Relations, T: 403 617 7609, E: dean@boardmarker.net