CORRECTING and REPLACING February Net Income Up 30%, Highest February Income Ever
03 March 2022 - 4:58AM
Business Wire
Please replace the release with the following corrected version
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The updated release reads:
FEBRUARY NET INCOME UP 30%, HIGHEST FEBRUARY INCOME
EVER
Personas Social Incorporated (TSX.V: PRSN) (the
“Company” or “Personas”) is pleased to provide a
corporate update on February 2022 sales net income as compared to
February 2021 sales and net income on Peeks Platform which is one
of the key revenue driving platforms that Personas offers in the
social media and communications markets.
Net Income and Sales
The company is proud to announce that its net income for the
period starting February 1st 2022 and ending February 28th 2022 was
$115,498 USD compared to $88,859 USD for the same period in 2021,
representing an 30% increase over the same period for 2021. Sales
grew approximately 15% for the same period. February income was the
highest ever for the Company. The Company expects growth trends to
continue into the foreseeable future.
Disclaimer Regarding Operational Metrics Presented
The numbers and amounts reported herein are unaudited historical
operational metrics. The operational metrics disclosed are
generated from internal reports and are not intended to comply with
International Financial Reporting Standards (“IFRS”). The
disclosure in this press release is intended to provide insight
into the Company’s sales trends. The internal operational metrics
disclosed herein are used by management as a tool to assess the
Company’s overall sales performance and should not be deemed to be
financial disclosure or otherwise construed to replace or negate
the Company’s audited financials.
For the purposes of this press release, the Canadian dollar
amounts were calculated at the annual average exchange rate for the
year 2020 which is used herein as $1.28 CAD to $1.00 US dollar.
‘Gross Sales’ means the total sales processed by the company in a
given period, ‘Net Sales’ means the Gross Sales minus payment
processing fees, and ‘Net Income’ means the net fees earned by the
Company for the use of its platform by streamers and viewers. The
actual audited Gross Sales, Net Sales and Net Income numbers will
vary from the numbers reported herein due to, but not limited to,
fluctuations in foreign exchange at the time of transactions and at
the time of settlement of funds to the Company and variations in
payment processing fees.
Forward Looking Statements
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words
"believe," "estimate," "project," "expect", "plan", "intend",
"anticipates", "projects", "potential" or similar expressions.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Forward-looking statements are
statements that are not historical facts. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company’s expectations are risks
detailed from time to time in the filings made by the Company with
securities regulations. Forward-looking statements contained in
this news release are expressly qualified by this cautionary
statement. The forward-looking statements contained in this news
release are made as of the date of this news release and the
Company will update or revise publicly any of the included
forward-looking statements as expressly required by Canadian
securities law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this Release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220302005724/en/
Personas Social Incorporated Mark Itwaru Chairman & Chief
Executive Officer (647)789-0074 mark@Personas.com
Personas Social (TSXV:PRSN)
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