Appulse Corporation Reporting results for the Nine Months ended September 30, 2024

CALGARY, AB / ACCESSWIRE / November 13, 2024 / Appulse Corporation ("Appulse" or "the Corporation") today reported financial results for the nine-months ended September 30, 2024.

The financial position and operating results of Appulse reflect the Corporation's structure following the November 1, 2023 sale of its wholly-owned subsidiary, Centrifuges Unlimited Inc. ("CUI"). Further information providing details of that cash transaction have been published on SEDAR+.

The financial statements for the current nine-month period reflect both the June 7, 2024 common share dividend of $0.15 per share (for a cash consideration of $2,216,000), and the September 3, 2024 reduction of the Corporation's stated capital and resultant cash distribution to the shareholders of $0.135 per share (for a cash consideration of $1,994,000). Remaining cash balances continue to be held on conservative interest-yielding investments. Revenue for the nine-month period to September 30, 2024 comprised solely of interest income of $304,000.

The net loss for the nine-month period to September 30, 2024 was ($120,000) ($.01 per share), while the comparative period of the prior year reflects a net income of $313,000 ($.02 per share), comprised of a net loss from continuing operations of ($78,000) ($.01 per share) and a net income of $391,000 ($.03 per share) from discontinued operations. The Statement of Financial Position at September 30, 2024 reflects total assets of $4,160,000 (primarily comprised of cash and an escrow receivable related to the sale of CUI), and total liabilities of $105,000, with a resulting net equity balance of $4,055,000.

Management and the Board of Directors continue to actively investigate potential investment opportunities, with a goal of maximizing value to all shareholders.

Further information on Appulse can be obtained on the SEDAR+profile of Appulse at www.sedarplus.ca. Certain statements in this release may be forward looking and the reader is cautioned that such information, although considered reasonable by the Corporation at the time of preparation, may prove to be incorrect.

Neither the 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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Doug Baird, President, Telephone: [phone] Email: [e-mail] or
Dennis Schmidt, CFO, Telephone: [phone] Email: [e-mail]

SOURCE: Appulse Corporation

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