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Sparta Group Reports Q2 2022 Results

V.SAY

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).

About Sparta

Sparta Group (a.k.a. Sparta Capital Ltd.) is a technology-based company that owns or holds a controlling interest in a network of independent businesses that supply energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions and increase operating efficiencies in various industries. In response to the COVID-19 crisis, Sparta has also expanded its scope to help facilitate supply of necessary materials while assisting talented inventors who are looking to introduce innovative technical solutions that will bring greater normalcy to the post COVID-19 world. Sparta's network of independent businesses provides a wide range of specialized energy capturing, converting, optimizing, and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal support, financial and accounting knowledge, strategic planning, and other shared services to its independent businesses.

Sparta is a publicly traded company listed on the TSX Venture Exchange Inc. under the symbol "SAY" (TSX.V: SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.

For more information contact:

John O'Bireck, President
Email: jobireck@spartagroup.ca
Telephone: (905) 751-8004

This news release contains "forward-looking information" within the meaning of applicable securities laws. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this news release and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. These include, but are not limited to, the failure to obtain necessary regulatory approvals, necessary financing and risks associated with the environmental technologies industry in general. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Sparta Group



View source version on accesswire.com:
https://www.accesswire.com/703331/Sparta-Group-Reports-Q2-2022-Results