MEDXTRACTOR REPORTS FINANCIAL RESULTS FOR THE QUARTER ENDED NOVEMBER 30, 2020
Calgary, Alberta – December 29, 2020. MedXtractor Corp. (CSE: MXT) (“MXT” or the “Corporation”) announces its financial results for the quarter ended November 30, 2020 (fiscal Q3, 2021).
MXT had gross revenues of $185,829 and net operating loss of $18,814 for the quarter ended November 30, 2020 (fiscal Q3, 2021). Year-to-date gross revenues of $448,592 and income of $13,052 for the nine months ended November 30, 2020. On November 30, 2020, MXT had working capital of $658,509 including cash of $596,094. The Corporation has no debt.
Mr. Jim Durward, CEO, states “In the past the Fall outdoor crop has provided a seasonal revenue bump. This year the bump was not fully recognized in the reported quarter. I believe this was caused primarily by the uncertainty surrounding the US Federal election and COVID-19; and with the election behind us and the vaccine becoming available, extractor revenues going forward will grow. Supporting this belief is a significant uptick in inquiries and sales in December. We continue to conceptualize new products with a view toward expanding MXT’s worldwide revenues.”
ABOUT MEDXTRACTOR CORP:
The Corporation is a Calgary-based company that manufactures patented, proprietary craft-scale carbon dioxide-based and alcohol-based extractors that are used to extract essential oils and compounds from a variety of botanical materials. The Corporation owns the US patent, and Canadian Patent on its CO2-based extraction process.
FOR FURTHER INFORMATION, PLEASE CONTACT:
James M. Durward, President and CEO
Telephone: (403) 689-3901
Email: [email protected]
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.