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ScreenPro Reports Annual Financial Results with Record Revenues of over $21 Million

  • Record Revenues of over $21 Million
  • Momentum of core Covid business continues into 2022

Toronto, Ontario--(Newsfile Corp. - May 2, 2022) - ScreenPro Security Inc. (CSE: SCRN) (OTCQB: SCRSF) ("ScreenPro" or the "Company") is pleased to report that the Company has reported over $21 million of revenue. The Company filed on SEDAR its financial statements ("FS") and related management discussion and analysis ("MD&A") for the year end results ending December 31, 2021 ("Q4 2021").

2021 Financial Summary

Thirteen Months Ended December 31, 2021

The Company reported revenue of over $21 million, net income of ($10 million), EBITDA of ($8.2 million), and Adjusted EBITDA of ($1.7 million). Total operating expenses for the period ended December 31, 2021, was $6.5 million, largely due to professional fees related to various legal and accounting activities for the Reverse Take Over (RTO), and an acquisition completed during the period. The Company also recorded a non-cash depreciation cost of $2 million related to the Company's equipment, right-of-use asset and intangible assets acquired during the period. Another significant item to note is the listing expense of $1.7 million relating to the RTO representing ScreenPro's costs to obtain a listing on the CSE. The Company's decreased cash flow of ($238,288) was due to the Company's investment of purchasing $1.6 million worth of Covid-19 test inventory and $797,148 of lab property and equipment for operations to further advance business and profit.

"The Company has built a strong and successful foundation for Covid testing. Prominent film and production companies throughout Canada trust ScreenPro to keep them safe while working throughout the pandemic. As the need for Covid testing increases this year, we look forward to focusing on not only accelerating our testing services but also diversifying the Company into other health screening products that will be just as profitable as Covid testing," said Lena Kozovski, CEO of the Company.

"We have continued our momentum of our core business and have entered 2022 with strong Covid testing numbers. We are proud of our team in achieving record revenues from Covid Testing resulting in revenues of over $21 million. The company is focused on alignment with our shareholders to maximize shareholder value and continue to be opportunistic and expand our product offerings in 2022," said Michael Yeung, Chairman of the Company.

The following is selected financial information for financial results ending December 31, 2021. Please refer to the Q4 2021 filing in its entirety, which is available under ScreenPro's profile at

Financial Highlights for thirteen months, financial results ended December 31, 2021:

December 31, 2021
Total Assets $4,887,202
Total Current Liabilities $3,969,395
Total Liabilities $4,041,199
Revenue $21,224,967

The following table summarizes revenue, net loss, and EBITDA* and adjusted EBITDA* for the year ended December 31, 2021, and 2020. All figures are in Canadian dollars unless otherwise noted:

December 31, 2021 November 30, 2020
Net Loss ($10,156,501) ($1,040,231)
Depreciation and amortization $1,995,787 $45,769
EBITDA ($8,160,714) ($994,462)
Share base compensation -- $548,500
Excess consideration paid over net assets acquired $4,777,912 --
Listing expense $1,658,745 --
Adjusted EBITDA ($1,724,057) ($445,962)


The Company's financial performance greatly improved in the third and fourth quarter, attributed by growth due to its core business in Covid testing. Testing continues to have strong demand, which further improves the Company's financial position. From December 2021 to March 2022, the Company has administered approximately 82,636 Covid tests. In the first quarter of 2022, ScreenPro achieved continued growth in its testing numbers.

Testing numbers are as follows:

  • December 2021 resulted in a total of 14,202 Covid-19 tests
  • January 2022 resulted in a total of 19,446 Covid-19 tests
  • February 2022 resulted in a total of 23,655 Covid-19 tests
  • March 2022 resulted in a total of 25,333 Covid-19 tests

Due to the Company's focus in the film industry, strong testing revenue is expected in 2022 as the Company does not foresee change in processes in the near term in the film industry. ScreenPro recently announced that as of April 8, 2022, the company has been awarded a total of 21 new productions to date for Q1 of FY22. As Canadian's face a surge of COVID-19 cases, the Company remains focused in 2022 to capitalize further on testing services as there is an increased demand for testing in the film and production industry and in the community.

The Company continues to diversify their product and service offerings and expects to see significant growth as they expand further into the health screening space with the acquisition of Add Biomedical ("Add Bio") and potentially other future opportunities. Add Bio has recently submitted applications to the Canadian Intellectual Property Office (CIPO) and United states Patent and Trademark Office (USPTO) and plans to enter the breast cancer testing industry.

The Board of Directors has mandated management of ScreenPro to continue to focus on growth of revenue and improve its profitability in 2022 via diversification of products and services. Strategies to achieve the objectives would include organic growth of its subsidiaries, acquisitions, mergers, or joint ventures of companies that are synergistic and have potential value for ScreenPro. The Company anticipates an exciting 2022 filled with activity from its operational and corporate objectives, particularly growth of its Covid testing and expansion into other screening products and services that will be profitable and add to the Company's value.

About ScreenPro

ScreenPro is a Screening and Medical Technology company that provides turnkey screening solutions with its proprietary medical alerting software. ScreenPro's unique access to multiple manufacturers of high-quality test kits and its strategic partnership with labs in British Columbia, Ontario and Quebec allows ScreenPro to be a full-service nationwide provider of COVID testing and breast cancer screening solutions across Canada. In addition, ScreenPro has its own medical doctor and nursing professionals with on the ground support staff and transportation, with access to high quality PPEs to ensure that clients are protected in all aspects of their testing needs.

For additional information on ScreenPro and other corporate information, please visit the Company's website at

For more information about the Company, please refer to the Company's profile on SEDAR at

Neither the Canadian Securities Exchange (the "CSE") nor it's Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Lena Kozovski, CEO

Forward Looking Statements:

Certain statements contained in this news release may constitute forward‐looking information, including statements relating to expectations regarding the acquisition and business of Concierge Medical Consultants Inc. and the future development of ScreenPro's business. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The actual results of ScreenPro could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which ScreenPro operates, prevailing economic conditions, changes to ScreenPro's strategic growth plans, and other factors, many of which are beyond the control of ScreenPro. Management of ScreenPro believes that the expectations reflected in the forward‐looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents ScreenPro's expectations as of the date hereof and is subject to change after such date. ScreenPro disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.


The Company has included non-IFRS performance measures throughout this press release, including (a) Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"); (b) Adjusted EBITDA which is EBITDA adjusted for the gain (loss) on change in fair value of the Company's investment properties and the gain (loss) on change in fair value of derivative instruments; and (c) Book Value per Share which is calculated as equity attributable to Datametrex AI Limited shareholders divided by total common shares outstanding at the end of the reporting period. These non-IFRS financial measurements do not have any standardized meaning as prescribed by International Financial Reporting Standards ("IFRS") and are therefore unlikely to be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Management uses EBITDA metrics to measure the profit trends of the business units and segments in the consolidated group since it eliminates the effects of financing decisions. Certain investors, analysts and others utilize these non-IFRS financial metrics in assessing the Company's financial performance. These non-IFRS financial measurements have not been presented as an alternative to net income or any other financial measure of performance prescribed by IFRS. Reconciliation of non-IFRS measures has been provided throughout the Company's MD&A, as applicable, filed under the Company's profile on www.SEDAR.COM.


To view the source version of this press release, please visit