Toronto, 29. November 2013. Gemoscan Canada Inc. (TSX-V: GES; MUN: 1GE), a leading owner and marketer of food intolerance and diet management solutions, today announced its operating and financial results for the six months and the second fiscal quarter, the 30. September 2013 have come to an end. In this news release, all amounts are in Canadian currency specified, and the results will be according to the International Financial Reporting Standards ("IFRS").
Focusing on distributing to the consumer in emerging health care retailers, including traditional pharmacies and paramedical clinics, the company delivered better results than expected. The company's programs are available in Canada at nearly 600 pharmacies and paramedical clinics.
The latest financial results reflect the company's recent acquisition of Physiomed Kennedy Inc. (the "clinic"), a versatile paramedical clinic, and reaffirm the clinic's financial results of August and September 2013.
In the six months on 30. September 2013 have ended, sales amounted to 1.041.196 $ - an increase of 95 percent compared to the same period of the fiscal year 2012 (533.370 $). Second-quarter revenue amounted to 667.302 $ - an increase of 138% compared to the same quarter of fiscal year 2012 (280.629 $).
For the six months on 30. September 2013 ended, the company also reported a lower net loss than expected (622.128 $); In the same period of the 2012 financial year, it was 1.109.214 $. For the second fiscal quarter, a lower net loss than expected was reported (386.681 $); In the same period of the 2012 financial year, it was 571.663 $.
The company reported for the six months on 30. 2013 $ has also come to an end, including a significant reduction in capital spending on operating activities on 217.395 $; In the same period of the 2012 financial year, it was 576.056 $.
All financial statements and Management's Discussion and Analysis are available at www.sedar.com.
About Gemoscan Canada Inc.
Gemoscan is an industry leader in food intolerance management and has a premier market position with distribution across Canada through select retail partners. Gemoscan, founded in 2003, develops, owns and markets holistic food intolerance and diet management solutions for consumers, including the HEMOCODE ™, using its own patented technology Food Intolerance System and the MenuWise ™ Food Intolerance Plan, Gemoscan is the first and only provider to commercialize a food intolerance management solution for consumers in partnership with retailers, offering the most holistic service available on the market today. Gemoscan also owns and operates Physiomed Kennedy Inc., a versatile paramedical clinic in Toronto, Ontario.
The shares of Gemoscan are traded on the Toronto Venture Stock Exchange under the symbol "GES" and on the stock exchanges in Munich, Frankfurt and Stuttgart under the symbol "1GE".
Forward-looking information
This press release contains certain "forward-looking information". All statements that are not historical facts and that refer to activities, events or developments that Gemoscan believes, expects or suspects, may or may not occur in the future. These forward-looking statements reflect current expectations or beliefs of Gemoscan based on currently available information. Forward-looking statements are subject to a number of significant risks and uncertainties or other factors that could cause the Company's actual results to differ materially from those expressed in forward-looking statements. And even if such actual results arrive or materialize, there is no guarantee that they will have the expected consequences or effects on Gemoscan. Forward-looking statements speak only as of the date on which they were expressed, and Gemoscan is under no obligation to update any forward-looking statements except as required by law, whether as a result of new information, future events or results or otherwise. Although Gemoscan believes that the assumptions regarding forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance. Therefore, based on such uncertainties, such statements should not be relied upon.
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
For more information, please contact:
Brian Kalish
Chief Executive Officer
Gemoscan Canada, Inc.
+1 (416) 650-1200
E-mail: [email protected]
Corporate Website: www.gemoscan.com
No liability is assumed for the accuracy of the translation! Please note english original message!
Source: IRW-Press.com.
