TSXV:HULK.H - Post by User
Comment by
Tim2Agamion May 02, 2022 10:29am
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Post# 34647405
RE:audited results
RE:audited resultswinnerswing wrote: not good!
No pot-of-goldfish yet found swimming amongst the pondweed, at least as reported on SEDAR. Nor yet signs of getting its ducks in a row,
Now about that cease trading order.... The Management Discussion and Analysis (“MD&A”), prepared on April 30. 2022 should be read in conjunction with the unaudited interim condensed and consolidated financial statements, and the notes thereto of Pontus Protein Corp. (formerly AmWolf Capital Corp.)(“Pontus” or the “Company”) which were prepared in accordance with International Financial Reporting Standards (“IFRS”).
Pontus Protein LTD. received its building permit from the City of Surrey on May 17, 2021 to build its first commercial facility (“The Facility”). Once construction is complete, the 20,570 square foot facility is capable of producing between 6.4 to 11.0 metric tonnes of Pontus Protein powder annually.
Full production is planned to begin by late fall of 2021.
Prior to the completion of the facility, management is in conversations with all of the distribution partners that have come on board to secure purchase orders for the entire off take of the facility.
With this market acceptance it will position the company extremely well to secure larger purchase orders from multiple stores to give the company the ability to move into the next larger commercial facility using the CEVAS technology.
The Company recorded net loss of $253,672 for the quarter period ended February 28, 2022 as compared to a net loss of $5,443,488, 504,271, 788,449, and $2,010,550 for the quarter periods ended November 30, August 31, May 31, and February 28, 2021.
As of February 28, 2022, the Company had working capital deficiency of $(1,011,499), as compared to a surplus of $1,766,085 at February 28, 2021. The Company funded operations during the quarter period ended February 28, 2022 using existing cash, funds raised from placements.