- ScreenPro Security (SCRN) has announced financial results for the third quarter ending September 30, 2022
- Reported total assets are $11,167,772, up 128 per cent from last year
- ScreenPro reduced marketing and administrative costs in the quarter
- ScreenPro is a medical technology company
- ScreenPro (SCRN) opened trading at C$0.03
ScreenPro Security (SCRN) has announced financial results for the third quarter ending September 30, 2022.
Q3 2022 financial summary:
The company reports an increase in its cash flow of $138,820 compared to a decrease of $296,724 in the previous year.
Reported total assets are $11,167,772, up 128 per cent from last year of $4,887,202 reported on December 31, 2021.
ScreenPro reduced general and administrative costs by 20 per cent for the period ended September 30, 2022, from $943,794 to $747,905. Marketing expenses were also reduced from $206,824 to $168,637.
The following table summarizes revenue, net income (loss) and EBITDA* for Q3 2022 and 2021.
| September 30, 2022 | September 30, 2021 | |
| Revenue | $2,882,900 | $3,878,868 |
| Net Income (Loss) | ($2,009,964) | $724,288 |
| Earnings per Share | ($0.02) | $0.02 |
| EBITDA | ($3,959,345) | ($3,463,823) |
In May 2022, ScreenPro acquired Naturevan Nutrition Ltd., a natural health supplement company advancing ScreenPro into the health and wellness industry. In October 2022, Naturevan launched its first batch of vitamin supplements on the Amazon U.S. market, introducing its Probiotics to consumers. Naturevan products are expected to hit the Canadian Amazon market in the new year and expand its product offerings by introducing additional supplements to both markets in 2023.
The company’s COVID-19 testing operations remain steady as COVID-19 continues to burden Canadians. The company continues to administer testing to the community and the film and production industry. It is working on expanding its clientele, as well as working with experts on establishing objectives with Add Biomedical.
Concierge Medical Consultants Inc. is focused on growing its IV Vitamin Therapy operations, as well as Prestige and Home Care services and continues to serve patients and focus on generating revenue in the medical and healthcare space.
ScreenPro’s Chief Executive Officer and Chairman Andrew Ryu commented on the company’s outlook.
“The company is focused on getting additional Naturevan products out on the Amazon U.S. market and has plans to launch on the Canadian Amazon market in the new year. There is a sharp focus on generating sales and revenue from Naturevan on all fronts, and the Company expects to see results in sales in the next quarter. As our Covid operations remain steady, the Company is also focused on Concierge Medical and bridging the current gap in the healthcare system for patients to bring more accessible Concierge care to Canadians. As the year progresses, expanding all operations and creating revenue is our priority.”
ScreenPro is a medical technology company that provides turnkey screening solutions with its proprietary medical alerting software. ScreenPro also recently introduced Naturevan Nutrition Ltd. to its portfolio, providing vitamins and supplements that are made in Canada and distributed for sale online.
ScreenPro (SCRN) opened trading at C$0.03.
