ATLANTA,
June 17, 2014 /PRNewswire/
-- Axiologix, Inc. (www.axiologix.net) (OTC Pinks: AXLX), an
International Technology and Services Organization focused on
delivering 'Cloud' Products and Services, today provides guidance
on full year revenues.
Axiologix is set to report Full Year revenues of
$6.1 million for the twelve months
ending May 31, 2014, an increase of
720% from the prior year ended May 31,
2013. The main reason for the increased revenues during the
year was an additional $5.5 million
reported for the five months following the acquisition of iWorld
Services in November 2013. Full
calendar year revenues for iWorld Services for 2013 were over
$13 million.
Revenue for fiscal Q4 ending May
31, 2014 was up 1,300% year-on-year.
The Company is currently completing a Form-10 with the
U.S. Securities and Exchange Commission ("SEC") that will return
the company to full reporting status. The filing is expected to be
completed by the end of June, 2014 and will include audited
financials statements for May 31,
2013 and 2012 respectively and a review of the period to
February 28, 2014. Full year results
will be filed with the SEC within standard reporting timelines once
the Form-10 is deemed effective.
Vincent Browne, Chairman
and Chief Executive of Axiologix, Inc. said, "We are clearly
very pleased with the revenue growth following the successful
completion of the iWorld acquisition. We are currently working
diligently to complete the longer than originally expected Form-10
process, but are now on the final stretch with it. We are also
presently working to close our previously announced iTeknik
acquisition, which we anticipate will add a further $10m per year in revenues as well as provide
profitable operations from higher margin services. It will also
allow us to introduce exciting new higher margin services across
the group that will continue to build a sustainable business in the
medium to long term".
About Axiologix, Inc.
Axiologix,
Inc. (OTC Pinks: AXLX) based in Atlanta,
Georgia USA is a public holding company, whose subsidiaries
operate in the rapidly growing International Cloud Communications
(VOIP) and high margin Mobile Payments/International Remittances
markets. The Company's global products utilize proprietary
technologies and sales channels to serve consumer and enterprise
markets in the U.S. as well as high growth emerging regions of
North Africa and the Middle East. The Company's management builds
shareholder value through both organic growth in its focused
marketing channels as well as scaling through targeted "roll up"
acquisitions in consolidating industries. These subsidiaries
benefit from access to financial markets for operational and growth
capital and the Company's experienced management team provides
operational support to streamline expenses, which creates a
sustained competitive advantage while building a market leader. For
more information please visit our websites at www.axiologix.net,
www.axiocomm.net, www.primecarrier.com
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.