(TheNewswire)
Vancouver, BC – TheNewswire - August 31, 2023 - BEACN Wizardry & Magic Inc. (“BEACN” or the “Company”) (TSXV:BECN) announces for the six months ended June 30, 2023, the Company achieved sales revenue of $1,095,024 (2022 - $2,807,906) gross profit of $476,901 (44%) (2022 - $1,183,467 (42%) and a net loss of $1,086,760 (2022 – net income of $442,240). Further information is available from the Company’s interim financial statements for the period ended June 30, 2023 available under the Company’s profile on SEDAR at www.sedar.com.
Throughout the remainder of 2023 and into 2024 BEACN is continuing to implement it’s B2B retail strategy while also expanding the reach and availability of our e-commerce platforms to more countries. With more routes to market, continued investment in product development, and near-term product launches, BEACN anticipates stronger quarterly earnings to close 2023.
About BEACN Wizardry & Magic Inc.
BEACN (TSX-V: BECN), a Victoria BC based consumer electronics company, develops innovative audio equipment, peripherals and technology for gamers, live streamers, and content creators. BEACN is committed to delivering premium products that enable everyone to produce studio-quality content. BEACN's award-winning product ecosystem includes BEACN Mic, BEACN Mix and BEACN Mix Create. BEACN is listed on the TSXV under the symbol BECN.
For further information, please contact:
BEACN Wizardry & Magic Inc.
Daniel Davies: ir@beacn.com or 778-561-1450
To learn more visit: www.ir.BEACN.com
Reader Advisory
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including details about the proposed Offering and the Company’s proposed use of proceeds from the Offering. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including risks associated with the inability to complete the Offering, timing of receipt of regulatory approval, change in market conditions, evolving global supply chain issues, evolving economic and political issues, and demand for BEACN products.
Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither the 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.
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