TORONTO, Nov. 6, 2017 /CNW/ - Kontrol Energy Corp. (CSE:KNR) (the "Company") announces Q3 2017 revenue of $2.2 million and $150,486 in EBITDA. Revenue increased 41% over Q2 2017. On year-over-year basis, revenue was up 660% and 412% compared to the nine months ended 2016 and three months ended 2016 respectively.
"The third quarter acceleration in performance reflects the integration of our completed acquisitions. On a year-to-date basis the Company's financial results will not fully reflect our anticipated 12-month run rate as the Ortech acquisition was completed in February 2017 and the Efficiency Engineering acquisition was completed in August 2017." says Paul Ghezzi, CEO Kontrol Energy. "As we continue to execute on our growth plans we are also taking a systematic approach to rationalizing operating expenses across our completed acquisitions and pursuing various revenue synergies which we anticipate will begin to be reflected in the financial statements of Q1 of 2018."
"From an EBITDA and operating cash flows basis we have made strong progress in a short period of time, while integrating our acquisitions," continues Paul Ghezzi. "EBITDA before non-cash expenses for the third quarter was $150,486. Factoring in non-cash amortization expense of $136,743 and finance expense of $163,182 the Company reports a net loss of $149,439 for the three months ended September 30, 2017.
About Kontrol Energy Corp.
Kontrol Energy Corp. (CSE:KNR) is a leader in energy efficiency solutions and technology. Through a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in Greenhouse Gas (GHG) emissions.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including information relating to future payments of holdback amounts, possible future acquisitions, anticipated consolidated revenue and anticipated annual EBITDA; the provision of solutions to customers to reduce overall energy costs and greenhouse gas emissions reductions, carbon reduction and monetization programs, growth strategy, the replacement of the secured bridge loan with long-term senior secured debt financing and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". The forward-looking statements in this press release are presented for providing information about management's current expectations and plans and such information may not be appropriate for other purposes. The forward-looking statements. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that acquired companies will be successfully integrated into the Company and that its revenues will be consistent with the Company's expectations, that suitable businesses and technologies for acquisition and/or investment will be available, that such acquisitions and or investment transactions will be concluded, that sufficient capital will be available to the Company, that technology will be as effective as anticipated, that organic growth will occur, that the Company will succeed in obtaining long-term senior secured debt financing, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, lack of acquisition and investment opportunities or that such opportunities may not be concluded on reasonable terms, or at all, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected that customers and potential customers will not be as accepting of the Company's product and service offering as expected, and government and regulatory factors impacting the energy conservation industry. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable securities law.
SOURCE Kontrol Energy Corp.
For further information: Paul Ghezzi, CEO, firstname.lastname@example.org; Kontrol Energy Corp., 5045 Orbitor Drive, Bldg. 9, Suite 401, Mississauga, ON, L4W 4Y4, Tel: 905.766.0400, Toll free: 1.844.866.8123