TORONTO, Feb. 24,
2023 /CNW/ - Namsys Inc. (TSXV: CTZ) today
reports the results of operations for the fiscal year, ended
October 31st, 2022. All
amounts referenced herein are in Canadian dollars.
Revenue from operations for the twelve months ended October 31st, 2022 was $5,394,781 as compared to $4,975,128 in fiscal 2021. Net Income before tax
for fiscal 2022 was $1,898,682, as
compared to 2021 when net income before tax was $1,725.322.
The Audited Financial Statements and Management's Discussion and
Analysis for fiscal 2022 are available on the Company's profile on
SEDAR at www.sedar.com.
K. Barry Sparks, the Executive
Chairman of Namsys stated: "Fiscal 2022" was another solid year for
the Company, particularly given that the majority of our staff have
continued to work from home. Our management functions have settled
in well, with our CEO (Jason
Siemens) focused on sales and products and our COO
(Christie Gray) taking
responsibility for the day to day operation of the business. K.
Barry Sparks continues the Corporate
Secretarial function of the business.
The "Cirreon™ SaaS group of applications, sold on a subscription
basis, continue to make progress in the marketplace. The Company
has managed to add new Distributors and products which we believe
will continue the growth of the Cirreon SaaS sales in 2023.
Namsys Inc. products are designed to bring efficiency to the
processing of currency and other value instruments in financial
institutions, retailers, public transportation operations and the
gaming industry. Namsys' proprietary software products for this
market are "open-architected" and have been developed to interface
with clients' legacy systems.
The TSX Venture Exchange has neither approved nor disapproved
of the information contained in this release. This Media Release
may contain forward-looking statements, which reflect the
Corporation's current expectations regarding future events. The
forward-looking statements involve risks and uncertainties. Actual
events could differ from those projected herein and depend on a
number of factors including the success of the Corporation's sales
strategies.
SOURCE NamSys Inc.