Le Lézard
Classified in: Science and technology, Business
Subject: ERN

Genifi Announces Full Year and Q4 2023 Results


TORONTO, April 19, 2024 /CNW/ - Genifi Inc. (formerly Prodigy Ventures Inc.) (TSXV: GNFI) ("genifi" or the "Company") today announced its financial results for the three months and year ended December 31, 2023. As previously reported, the Company sold TCB Corporation ("Prodigy Labs") on January 18, 2023. As a result, its financial results are treated as discontinued operations for the reporting periods noted below.

Full Year 2023 Financial Results

Fourth Quarter 2023 Financial Results


Three months ended 
December 31

 Year ended
 December 31


2023

$

2022

$

2023

$

2022

$






Revenue

497,512

431,227

2,009,770

1,733,296

Gross Profit

357,209

273,874

1,405,730

1,150,910

Expenses

593,378

2,593,555

3,559,718

8,591,595

Loss from continuing operations before tax

(236,170)

(2,319,681)

(2,153,988)

(7,440,685)

Net income (loss) from continuing operations

271,972

(2,222,982)

(1,380,637)

(6,903,096)

Income from discontinued operations net of tax

853,326

306,627

7,585,823

1,468,465

Net and comprehensive income (loss) for the period          

1,125,298

(1,916,358)

6,205,186

(5,434,631)

Net income (loss) per share ? basic and diluted :










   Continuing operations

0.00

(0.02)

(0.01)

(0.05)

   Discontinued operations

0.01

0.00

0.05

0.01

The complete audited financial statements and associated Management's Discussion and Analysis are available under the Company's profile at www.sedarplus.ca and the Company's website at www.genifi.com.

About genifi inc.:
Genifi (formerly Prodigy Ventures) delivers Fintech innovation, with its cutting-edge platforms: IDVerifact for digital identity verification, and tunl.chat for generative AI chat.

Forward-Looking and Cautionary Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward looking information includes without limitation, statements regarding the completion of the going private transaction. Although genifi believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. The forward-looking information is based on certain assumptions, which could change materially in the future, including the assumption that the Company is able to effect the privatization using the proposed method, the Company is able to obtain the necessary regulatory and shareholder approvals, the parties are able to satisfy or waive, if waiver is possible, the conditions to completing the transaction. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in genifi's Management's Discussion and Analysis for the year ended December 31, 2023, a copy of which is filed on SEDAR+ at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, genifi does not intend, or assume any obligation, to update these forward-looking statements.

Neither 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.

SOURCE genifi inc.


These press releases may also interest you

at 17:55
City of Hope®, one of the largest cancer research and treatment organizations in the United States, has been awarded $5.4 million from the California Institute for Regenerative Medicine (CIRM) to build and fund a stem cell research laboratory on its...

at 17:30
Tuya Inc. ("Tuya" or the "Company") , a global leading cloud platform service provider, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Total revenue was US61.7...

at 17:00
Zepp Health Corporation ("Zepp" or the "Company") today reported revenues of US$39.8 million; a basic and diluted net loss per share of US$0.06; and a basic and diluted net loss per ADS of US$0.23 for the first quarter ended March 31, 2024;...

at 17:00
Yalla Group Limited ("Yalla" or the "Company") , the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced its unaudited financial results for the first quarter ended March 31, 2024. First...

at 16:56
A paper published in the June edition of the Journal Diabetes demonstrates that C-peptide, a biomarker that indicates the production of insulin, is a validated surrogate endpoint, or predictor of clinical benefit, for clinical trials of...

at 16:42
Karman Space & Defense ("Karman"), a concept-to-production solutions provider for the most complex challenges in our industry, proudly announces the launch of its captivating, newly redesigned website, and bold tagline "Impossible Ends Here."...



News published on and distributed by: