Vancouver, British Columbia--(Newsfile Corp. - September 30, 2024) - Saasquatch Capital Corp. (TSXV: JPIM.H) (formerly Jasper Commerce Inc.) ("Saasquatch" or the "Company") today announced its financial performance for the fourth quarter of fiscal 2024 ("Q4 2024") ending July 31, 2024. All amounts are expressed in Canadian dollars unless otherwise specified.
On July 26, 2024, Saasquatch changed its financial year from July 31 to October 31. As a result, the Company's annual financial statements for the 2024 fiscal year will end on October 31, 2024 and will contain five quarters.
As previously announced, on June 30, 2024 Saasquatch sold its Product Information Management business and related assets to Digital Commerce Payment Inc., a private company that is arm's length to Saasquatch., for total consideration of up to $1,500,000.
For Q4 2024, Saasquatch reported a net gain of $1,294,619, an improvement from the loss of $279,530 reported in Q4 2023. The net gain includes a gain on the asset sale of $1,360,111.
The total revenue for Q4 2024 was $163,630, a decline from $353,094 in Q4 2023. There was no revenue in the month of July due to the asset sale as customer contracts were assigned to the purchaser.
The total expenses for Q4 2024 was $358,272, a decline from $710,750 in Q4 2023. Operating costs declined significantly in the month of July due to the asset sale as employee and vendor contracts were assumed by the purchaser.
On September 13, 2024, the TSX Venture Exchange announced that the Company's listing transferred to the NEX and the trading symbol for the Company changed from JPIM to JPIM.H. Trading in the shares of the Company remain suspended.
This news release should be read in conjunction with Saasquatch's unaudited financial statements and the accompanying notes, as at and for the quarter ended July 31, 2024. Those documents have been filed with certain securities regulatory authorities in Canada and are available on SEDAR (www.sedarplus.ca).
About Saasquatch Capital Corp. (formerly Jasper Commerce Inc.)
Saasquatch is a reporting issuer in the Provinces of British Columbia, Alberta and Ontario and has no active business operations or assets other than its equity interest in its subsidiary and its contingent rights, indirectly, to receive earn-out payments from the asset sale.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
Forward Looking Statements
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Saasquatch believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Saasquatch expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Forward-looking information in this press release are based on certain assumptions and expected future events, namely the Company's ability to carry out its stated plans and the availability of capital for such purposes.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the inability of the Company to continue as a going concern; the Company's ability to carry out its stated plans the availability of capital for such purposes.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated, including but not limited to the Company's inability to carry out its stated plans the availability of capital for such purposes.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225187
