HALIFAX, July 27, 2016 /CNW/ - AQUARIUS COATINGS
INC. (AQC.H – TSX-V NEX) (the "Corporation") today
reports the results of operations for the three months and the year
ended March 31, 2016. All
amounts referenced herein are in Canadian dollars.
Net income from continuing operations for the three months was
$190,965 ($0.00 per share) compared to a loss of
$7,815 ($0.00 per share) for the three months ended
March 31, 2015.
The Corporation recorded net income from continuing operations
of $162,530 ($0.00 per share) in the year ended March 31, 2016 compared to a loss of $25,482 ($0.00 per
share) in the prior year.
The results for the current three month and twelve month periods
include a gain on settlement of debt in the amount of $200,000 resulting from the write-off of a note
payable in a subsidiary. There were no such items in the
comparable periods in the prior year.
In the prior year the Corporation recorded net loss from
discontinued operations of $5,955
($0.00) for the three months and a
net loss of $215,990 ($0.00 per share) for the year ended March 31, 2015 there were no transactions from
discontinued operations in current three month and twelve month
periods.
The Corporation has filed its consolidated financial statements
and management discussion and analysis for the year ended
March 31, 2016. Both are available
under the Corporation's profile on SEDAR at www.sedar.com
The Company's shares are listed on the NEX Board of the TSX-V
but are currently suspended from trading. As noted in its
Press Release dated July 22, 2016,
the Company will be convening an Annual and Special Meeting to
consider a number of matters, including the acquisition of Surgical
Lasers Inc.
The TSX Venture Exchange has neither approved nor disapproved
of the information contained in this release. This Media Release
may contain forward-looking statements, which reflect the
Corporation's current expectations regarding future events. The
forward-looking statements involve risks and uncertainties. Actual
events could differ from those projected herein and depend on a
number of factors including the success of the Corporation's sales
strategies.
SOURCE Aquarius Coatings Inc.
