CALGARY, ALBERTA, November 27, 2017, ICEsoft Technologies Canada Corp. (the “Corporation” or the “Company” or “ICEsoft”) is pleased to announce its consolidated financial results for the period ended September 30, 2017. Detailed results and Management’s discussion and analysis are now available on SEDAR.
The quarterly highlights are as follows:
• ICEsoft improved its operating loss to $45,765 vs. $94,517 during the quarter vs Q3 2016 or 52%;
• The legacy business products produced operating income of $359,464 in the nine months ended September 30, 2017;
• General operating costs were reduced $99,092 or 18% vs. Q3 2016;
• Excluding the planned exit from low margin consulting services, revenue weakened 8.9% vs Q3 2016 as the market continues to mature for the legacy products;
• ICEsoft continues to generate commercial interest in its Voyent Alert! product with expected sales to close in 2017.
“We are pleased with continuation of the operating cost reduction ICEsoft has achieved. We are actively engaging beta customers for our Voyent Alert! product with expected positive results in the coming months” stated Brian McKinney, President and CEO.
About ICEsoft Technologies Canada Corp.:
ICEsoft Technologies Canada Corp. is a software as a service (“SaaS”) company. ICEsoft’s current software, which is available as freeware with a pay to use version, is used by some 150,000 developers, 20,000 companies, and some 400 paying customers.
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Chief Financial Officer
Forward-Looking Information Advisory
Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Corporate Changes, Private Placement and shares for debt transactions, assumptions about future economic conditions and courses of action, and the Company’s beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used to identify forward-looking information. The forward-looking information in this material change report describes the Company’s expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time.