Month: April 2018

BeWhere Holdings Inc. Reports Fourth Quarter and Fiscal Year-end Financial Results and Provides Business Update

Toronto, Ontario (FSCwire) – (TSX-V: BEW, OTCQB: BEWFF) (“BeWhere” or the “Company” an Industrial Internet of Things (“IIOT”) solutions company that designs and sells hardware with sensors and software applications to track real-time information on movable assets.  The company develops mobile applications, middle-ware and cloud based solutions that stand-alone or that can be readily integrated with existing software, announces its financial results for the three and twelve months ended December 31, 2017.

Highlights

  • Revenues increased by over 748% year over year, and 504% quarter over quarter – Revenues for the three months ended December 31, 2017 were $443 thousand compared to $88 thousand for the three months ended December 31, 2016: an increase of $355 thousand (504%). For the twelve months ended December 31, 2017, revenues were $1,686 thousand compared to $225 thousand for the twelve months ended December 31, 2016: an increase of $1,461 thousand (748%).
  • Gross Profit continues to trend higher – Gross profits for the twelve months ended December 31, 2017 was $332 thousand compared to $57 thousand for the twelve months ended December 31, 2016: an increase of 580%. Gross profits increased primarily as a result of increased product and solution deliveries in the quarter and the positive effect of scaling the Company’s shipments as part of previously announced customer wins.
  • Working Capital remains healthy – At December 31, 2017, the Company had a working capital balance improved and amounted to $3,640 thousand, including cash of $3,205 thousand. This compares favorably with the working capital balance of $1,765 thousand, including cash of $1,824 thousand at December 31, 2016.
  • On November 9, 2017 BeWhere, Bell Canada and Huawei together with The Premier of Ontario Kathleen Wynne announced the successful completion of the first Low-Powered Wide Area (“LPWA”) cellular case study at Henry Pelham Winery in Pelham, Ontario show casing BeWhere’s disruptive technology for environmental monitoring

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BeWhere Announces Changes to the Board of Directors

Toronto, Ontario – April 20th, 2018 – BeWhere Holdings Inc. (TSXV-BEW) (the “Corporation”) announces the appointment of Joanne De Laurentiis to BeWhere’s board of directors. Retired in 2016 as President and CEO of the Investment Funds Institute (IFIC), Joanne De Laurentiis was also CEO of Credit Union Central of Canada, Mondex Canada and Interac. Before moving into executive leadership roles, she served as Vice-President, Public Affairs for the Canadian Bankers Association and was chief of staff to a Minister in the Ontario Government. She has served on many business and not-for-profit boards including IFIC, Interac, Mondex, Cumis Insurance, Credential Financial, AgriFinance, Ethical Funds, Concentra Financial, the Ontario Lottery & and Gaming Corporation, the Toronto Board of Trade and St. Stephen’s Community House.

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