Axiologix, Inc. Files Annual Report For Year Ending May 31, 2013;
Revenues Grow By 482% Year On Year.
SARASOTA, Fla., Sept. 16, 2013 /PRNewswire/ -- Axiologix, Inc.
(www.axiologix.net) (Pinksheets:AXLX), an International Technology
and Services Organization focused on delivering 'Cloud' Products
and Services, today announced that it has recently filed unaudited
results for the twelve months ended May 31,
2013, via the OTC Markets Disclosure & News Service.
Key results of the unaudited results were:
Revenues of $901,673 for the
year ended May 2013 versus
$187,139 revenues for the previous
year.
Gross margins remained at 95% for the current year, same as
the previous year.
EBITDA for the current year was a loss of $580,116 versus a loss of $53,767 in 2012.
Net loss for the year ending May 31,
2013 was $1,035,157, down
slightly from $1,047,607 from the
previous year.
Cash used in operations for the twelve months to May 31, 2013 was $88,455, versus cash generated from operations
for the twelve months to May 31, 2012
of $61,166.
Cash decreased by $12,605 for
the twelve months ended May 31,
2013.
Total assets increased by 56% while working capital deficit
reduced by 77% and total debt reduced by 8% during the twelve
months ending May
2013.
Full details of the Company's Annual Report are accessible at
http://www.otcmarkets.com/stock/AXLX/filings
Vincent Browne, Chairman and
Chief Executive of Axiologix Inc. said, "Our results for the
financial year ended May 31, 2013
show solid progress in key areas of revenue growth, cash management
and balance sheet development. Whereas the revenues were less than
we forecasted for the full year they still came it at nearly five
times the previous year, primarily due to the effect of reporting a
full year from our Irish operations. We will continue to manage the
resources we have wisely while we seek to grow the business both
organically and by acquisition. We continue to progress our
previously announced acquisitions and expect to have an update on
the status of these initiatives later this
month."
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About Axiologix, Inc.
Axiologix, Inc. is an International Technology and
Services Organization focused on delivering Cloud-based Products
and Services to small and medium sized businesses primarily in
the United States and to operators
globally. Axiologix is headquartered in Florida, with international operations in
Dublin, Ireland. Additional
information may be found at www.axiologix.net.
This press release contains forward-looking statements. Words
such as "expects", "intends'', "believes'', and similar expressions
reflecting something other than historical fact are intended to
identify forward-looking statements, but are not the exclusive
means of identifying such statements. These forward-looking
statements involve a number of risks and uncertainties, including
the timely development and market acceptance of products and
technologies, the ability to secure additional sources of finance,
the ability to reduce operating expenses, and other factors
described in the Company's filings with the Securities and Exchange
Commission and the OTC Markets Group. The actual results that the
Company achieves may differ materially from any forward-looking
statement due to such risks and uncertainties. The Company
undertakes no obligation to revise or update any forward-looking
statements in order to reflect events or circumstances that may
arise after the date of this release.
SOURCE Axiologix, Inc.