Sparta Capital Ltd. Releases Annual Financial Results

 

10 May 202207:31 ET  

ACCESSWIRE

 

TORONTO, ON / ACCESSWIRE / May 10, 2022 / Sparta Group (TSXV:SAY) (the "Corporation", the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") is announcing that further to its January 28, 2022, news release ("Default Acceptance") and its subsequent March 1, 2022 and April 4, 2022 news releases, it has released its financial results for the year ended September 30, 2021.

Highlights are as follows:

  • Positive cash flow from operations of $210,370 and a cash balance of $844,779 at year end, generated primarily form the Sparta Environmental division.
  • Less than 2% decrease in revenue despite on-going pandemic.
  • A decrease in operating expenses of 3% from 2020.
  • Secured secured multiple long-term contracts for materials upcycling.
  • Evolution from just environmental focus to human health focus.
  • Sparta Innovation division continued work with Datapult Inc., designers of the Achu Health App, to integrate the App into Sparta's Workplace Safe Entry Program. In addition, the division recently initiated work on incorporating decentralized blockchain into Workplace Safe Entry and secured deal with Concordia University to have CASPR technology installed in key areas.
  • Adopted a specialized payment platform in the Sparta Energy division, to help advance uptake of its Cleantech energy technologies.
  • Over past year all employees and key consultants were granted stock options; a small token of appreciation by the company, intended to reward those with commitment to the vision of Sparta. Thus allowing each player to benefit from the future growth of the company that was fueled by their collective efforts.
  • Excerpts from the published FY'2021 MD&A include;

While it is human nature to zero in on one crisis at a time, more business analysts agree we must juggle the world's most pressing problems all at once. Thankfully, due to advanced technology and the harnessing of data, cross-industry convergence can work - and Sparta has been doing it by not only addressing environmental concerns, but health concerns too.

Part of convergence includes collaboration and Sparta has demonstrated that it has strong partners. Bringing together experts in multiple disciplines related to science, the environment, and health means that Sparta is positioned as a company that can do the following: differentiate products and services, improve customer experiences, and drive sustainability and efficiency.

Currently, the Sparta team is customizing its technology to help multiple business sectors. At the same time, the company is working diligently on new technology that could make it easier for those in remote areas of the world to receive quick diagnosis and ultimately proper treatment for what ails them. The company's collaboration with Metrikus is evolving so that Sparta can advance its efforts in helping building managers keep indoor spaces energy efficient, as well as healthy for occupants.

Evolving from an environmental technology company to a company that addresses both health of the planet and health of humankind presents a growth opportunity for Sparta. With both personal health and environment health top-of-mind, individuals and businesses will be looking for effective, efficient technologies.

Along with its many partners, Sparta is proud to be part of the move towards safeguarding environmental and human health.

The Corporation's annual audited financial statements and Management's Discussion & Analysis (MD&A) for the period ending September 30, 2021, are available on SEDAR (www.sedar.com).