Personas Social Announces Filing of Year End Financial Statements

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TORONTO — Personas Social Incorporated (TSX.V: PRSN) (the “Company”) announces that the audited consolidated financial statements (“FinancialStatements”) and Management’s Discussion and Analysis (“MD&A”) for the 10 months ended December 31, 2020, are now available on the Company’s profile on SEDAR ( www.sedar.com).

Select financial highlights from the Financial Statements include the following:

  • The Personas Social platform generated gross revenue of $3.20 million during the 10 months ended December 31, 2020, while gross margin had improved to 42% from 40% in 12 months ended February 29, 2020.
  • GAAP net loss decreased to $2.66 million during the 10 months ended December 31, 2020 from $4.41 million in the 12 months ended year February 29, 2020.
  • GAAP net loss per share was $0.008 the 10 months ended December 31, 2020 as compared to $0. 016 in the 12 months ended year February 29, 2020.

Certain information provided in this news release is extracted from the Financial Statements and MD&A of the Company for the 10 months ended December 31, 2020, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information.

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For further information and to open a free account with the Company please visit www.personas.com

Forward Looking Statements

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect”, “plan”, “intend”, “anticipates”, “projects”, “potential” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements are statements that are not historical facts. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210430005609/en/

Contacts

Personas Social Incorporated
Mark Itwaru
Chairman & Chief Executive Officer
416-639-5335
mark@Personas.com

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