AirIQ Inc. Announces Board Changes; Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended March 31, 2014
The company announced unaudited consolidated financial results for the fourth quarter and year ended March 31, 2014. For the quarter, the company announced that it achieved positive EBITDAS of CAD 33,651 and break-even net income for the three months ended March 31, 2014. Total Revenue was CAD 643,000.
For the full year, the company reported revenues increased 6% to CAD 2,456,000 from CAD 2,324 for the year ended March 31, 2013. Approximately 73% of the total revenue for the year represents recurring revenue from the company's airtime customers. The company's net loss was CAD 364,000 or CAD 0.02 as compared to a net loss of CAD 437 or CAD 0.03 for the year ended March 31, 2013.