parta Group Reports Q2 2022 Results

 

31 May 202206:31 ET  

ACCESSWIRE

 

TORONTO, ON / ACCESSWIRE / May 31, 2022 / Sparta Group (TSXV:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") has just released its financial results for the three and six month periods ended March 31, 2022.

Highlights for the second quarter are as follows:

  • Total revenue of $1,611,534 were realized for the quarter; representing an 80% increase over the same period last year
  • Primarily through the efforts of Sparta's ERS-International (Environment division), the company continued to maintain a significant cash balance at the end of the quarter
  • Continued evolution from just environmental focus to human health focus
  • Kickstarted the development of a carbon capture program to help companies achieve sustainability goals as pressure grows for environmental accountability
  • Boosting of Advanced Data Collection Platform and Blockchain technology
  • Induction of Aerospace and Space Health experts, as well as an Internal Medicine specialist to Technical Advisory Board.

Here are some excerpts from Sparta's Q2 report:

COVID-19 not only forced us all to think about our personal health, but it also forced us to consider economic health and our planet's health. Even in the middle of the pandemic, most Europeans saw climate change as the biggest threat to their economic and physical well-being. Pew Research backs up this sentiment. Whether you follow a non-partisan think tank like Pew, University experts, or leading business professionals, there is a consensus that climate change and sustainability will drive much of the conversation and headlines in the coming months and years. While Sparta has always been focused on the environment, our added health technologies demonstrates our commitment to not only a healthy planet, but healthy people to live, work and play on Earth.

We are currently customizing technologies to address worker health and business health (sustainability). We are also looking forward to introducing the world to technology that can help make it easier for people living in remote areas to get the healthcare guidance they need and deserve. At the same time, we will continue to advance our efforts with energy efficiency technologies, adding mechanism that not only save energy but maintain healthy spaces for people to work in. With more people heading back to the workplace, we know how important it is that employers account for safety. It's also going to be a busy time for our materials recylcing/upcycling operations. New contracts mean our East Toronto facility is a hub of activity and new programs are being developed to assist customers with their sustainability goals.

So, in addition to offering environmental solutions which save energy, reduce carbon footprints, and upcycle waste, COVID-19 and other health safety programs have been added to our suite of products and services.

"While our health division is shaping up to be even stronger than we envisioned, the demand for the responsible upcycling of common materials, especially those that can be found in electronic waste, continues to gain steam; with no end in sight. We've been able to leverage some great partners and we're very excited about helping customers navigate the many issues that surround health, safety, and our environment." said Sparta President and CTO, John O'Bireck.

The Corporation's Q2 financial statements and Management's Discussion & Analysis ("MD&A") are available on SEDAR (www.sedar.com).