Enssolutions Group Announces Filing of First Quarter Interim Financial Statements and MD&A
29 May 2013 - 5:30AM
Business Wire
Enssolutions Group Inc. (ENV - TSX Venture, NSLSF - OTC Pink)
(“Enssolutions” or the “Company”), a manufacturer and distributor
of a environmentally responsible emulsion product for a wide
variety of industrial and commercial market demands, is pleased to
announce the filing of its Condensed Consolidated Interim Financial
Statements for the three months ended March 31, 2013 and the
comparative 2012 quarter along with management’s discussion and
analysis.
Commenting on the results, Phil Moruzi, Interim- CEO of
Enssolutions said, “While our revenues were below the 2012 Quarter
due to a longer winter in Canada, we expect to exceed 2012 revenues
in 2013 based on direct sales efforts and continued distributor
network expansion in both the United States and throughout
Canada.”
Financial Results
Certain of the Company's financial results for the three month
periods ending March 31, 2013 and 2012 are presented in the table
below.
Quarter Ended Quarter Ended March 31,
2013 March 31, 2012 $ $ Revenues 117,726 165,343 Operating
Loss 381,926 340,114 Net Loss 383,099 380,488
Basic and Diluted Loss
per Share
.01
.01 Assets 874,180 1,303,880 Liabilities 701,942 1,798,369
Shareholders' Equity (Deficit) 172,238 (520,468)
Darren Dierich, Chief Financial Officer further commented, “With
the continued focus on increasing revenues in both the US and
Canada we remain hopeful to generate positive income at the end of
2013.”
The Company’s Consolidated Interim financial statements and
MD&A for the quarter ended March 31, 2013 are available at
www.sedar.com.
About Enssolutions
Enssolutions manufactures, distributes and applies
environmentally responsible products to meet a wide variety of
industrial and commercial market demands. Enssolutions provides
engineered environmental solutions for mine tailings control,
process dust and erosion control, granular stabilization, road
construction/maintenance and stockpile sealing. It has production
facilities in Beamsville, Ontario and Glendale, Arizona that
service some of North America's largest mining, steel, cement, and
road construction/maintenance companies as well as numerous public
road authorities.
For more information on Enssolutions, please visit
www.enssolutions.com.
Certain information in this news release constitutes
forward-looking statements. When used in this news release, the
words "may", "would", "could", "will", "intend", "plan",
"anticipate", "believe", "seek", "propose", "estimate", "expect",
and similar expressions, as they relate to the Company, are
intended to identify forward-looking statements. In particular,
this news release contains forward-looking statements with respect
to, among other things, business objectives, expected growth,
results of operations, performance, business projects and
opportunities and financial results. These statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking statements. Such statements
reflect the Company's current views with respect to future events
based on certain material factors and assumptions and are subject
to certain risks and uncertainties, including without limitation,
changes in market, competition, governmental or regulatory
developments, general economic conditions and other factors set out
in the Company's public disclosure documents. Many factors could
cause the Company's actual results, performance or achievements to
vary from those described in this news release, including without
limitation those listed above. These factors should not be
construed as exhaustive. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying
forward-looking statements prove incorrect, actual results may vary
materially from those described in this news release and such
forward-looking statements included in, or incorporated by
reference in this news release, should not be unduly relied upon.
Such statements speak only as of the date of this news release. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements. The forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement.
For Further Information:
Darren Dierich, Chief Financial Officert: (623)
934-6767 Ext: 103e: darrendierich@enssolutions.com
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.
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