Argo Corp V.ARGH

Alternate Symbol(s): ARGHF

Argo Corporation is a Canada-based company. The Company is a technology venture delivering the vertically and publicly integrated city transit system designed to augment public transportation and create a network of intelligently routed vehicles that work together to serve and scale to the needs of entire cities, putting people in control of their mobility. The Company’s solution integrates custom software with vehicular hardware to create a network of intelligently routed vehicles that work together to serve and scale real-time to the needs of entire cities. The Company’s mobile application delivers on-demand, door-to-door service that is fully integrated with existing transit lines and systems. The Company partners with cities, transit agencies, and governments to increase ridership to existing public transit systems and put people in control of their mobility.

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Post by Betteryear2on Aug 30, 2021 6:44pm

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Post# 33785805

2021 Q2 Financial Results

Facedrive Inc. (“Facedrive” or the “Company”) (TSX-V: FD), a Canadian “people-and-planet first” tech ecosystem, today announced and filed its Q2 interim Financial Statements for the period ended June 30, 2021 (“Q2 2021”). All financial results are reported in Canadian dollars, unless otherwise stated.

Facedrive is a multi-faceted “people-and-planet first” tech ecosystem offering socially-responsible services to local communities with a strong commitment to doing business fairly, equitably and sustainably. As part of this commitment, Facedrive’s vision is to fulfil its mandate through a number of services and offerings that either leverage existing technologies of the Company or project initiatives with existing lines of business. Facedrive’s services and offerings include eco-friendly rideshare; food delivery services (Facedrive Foods); its Steer electric and hybrid vehicle subscription service; contact-tracing and connected health technology services (Facedrive Health); e-commerce; and e-social platform (Facedrive Social).

Q2 2021 Interim Financial and Operational Highlights

Revenue for Q2 2021 was $5,796,847, up from $93,615 in the same period a year earlier.
Rideshare revenue was $80,110 in Q2 2021, up from $36,650 the same period a year earlier.
Facedrive Foods revenue was $4,973,139 in Q2 2021, compared to $nil the same period a year earlier.
Steer subscription revenue was $662,097 in Q2 2021, compared to $nil the same period a year earlier.
Net loss was $7,559,851 in Q2 2021, as compared to a net loss of $6,656,844 in the same period a year earlier.
Cost of revenue in Q2 2021 was $5,346,764, an increase from $125,370 in the same period a year earlier.
General and administration expenses were $1,679,591 in Q2 2021, up from $736,616 in the same period a year earlier.
Operational support expenses increased to $3,461,044 in Q2 2021, up from $394,337 in the same period a year earlier.
Research and development expenses increased to $465,113 in Q2 2021, as compared to $290,559 in the same period a year earlier.
Sales and marketing expenses were $2,213,803 in Q2 2021, as compared to $5,215,830 in the same period a year earlier.
Basic loss per share was $0.08 in Q2 2021, as compared to $0.07 in the same period a year earlier.
At June 30, 2021, the Company had cash totaling $12,225,316 (as compared to $10,243,947 as at June 30, 2020), working capital of $10,328,285 (as compared to $7,247,675 as at June 30, 2020) and used cash in operating activities during the six-months period ended June 30, 2021 of $10,978,755 (as compared to $2,646,813 during the six-month period ended June 30, 2020).