Technologies Announces Q1 2021 Financial Results in 2021

Technologies Announces Results:

Control Technologies or Control or Company, a leader in smart buildings and cities leveraging IoT, cloud, and SaaS technology, announces financial results for the three months ended March 31, 2021, the report, discussion, and analysis were submitted to SEDAR by the municipality

Control continued to deliver positive operating cash flow and positive adjusted EBITDA by investing in the operating platform and creating market uncertainties due to the logistics and supply chain effects of COVID-19, said. CEO of Control Technologies. With our improved balance sheet and recent capital increase, we are well-positioned to expand our smart building technologies. In the first quarter of 2021, the company made significant progress in commercializing and starting the production of its technology.

Seasonality of the project and the impact of Covid-19 on operations

The first term is usually most influenced by the seasonality and timing of the project. About $ 500,000 in projects in the first quarter were impacted by scheduling issues during Ontario’s close periods. These projects will be delivered in the third and fourth periods.

The company is being hit by ongoing global supply chain issues related to computer processors and other components needed to manufacture BioCloud. The impact is mainly due to long delivery times and shortages of components. The company actively works with its supply chain partners to manage the supply chain.

There are no changes to the company’s earnings and adjusted EBITDA targets previously offered on April 7, 2021.

 Adjusted EBITDA is a non-IRFS financial measure. The company defines adjusted EBITDA as net income before interest, income tax, depreciation, share-based fees, acquisition-related costs, and listing costs.

About Control Technologies Corp.

Kontrol Technologies Corp., a publicly traded Canadian company, is a leader in smart buildings and cities with IoT, cloud, and SaaS technology. Kontrol Technologies offers a combination of software, hardware, and service solutions to its customers to improve energy management, air quality, and continuous monitoring.

Neither the IIROC nor any stock exchange or other securities regulator assumes responsibility for the suitability or accuracy of this press release.

Non-IFRS Financial Measures

The company defines adjusted EBITDA as net profit or loss before interest, income tax, depreciation, share-based payments, and acquisition costs. The company believes Adjusted EBITDA is a useful measure as it provides management with information about the company’s operating and financial performance and the ability to generate operating cash flow to fund future needs and working capital growth.

Adjusted EBITDA can also be used by investors and analysts to assess the company. Readers are reminded that these non-IFRS definitions are not IFRS compliant, do not have standard meanings as prescribed by IFRS, and should not be construed as alternatives to net income determined under IFRS, or indicators of performance, liquidity, or object.

forward-looking statements

This press release contains “forward-looking information” in accordance with applicable safety laws. Any statements in this document that are not clearly historical in nature may contain forward-looking information.

In some cases, potential information can be identified by words or phrases such as “potential”, “will”, “expected”, “probably”, “would be”, “would be”, “planned”, “intended purpose”, potential”, “suggests”, “esteem”, “believe” or disbelieve in these terms, or in other similar words, phrases and grammatical variations, or representations, that certain events or circumstances “may” or “occur”.

When the firm expresses or implies an expectation or belief about future events or results, the expectation or belief is based on assumptions made in good faith and which can be reasonably accepted. These assumptions include but are not limited to, the fact that the company will have sufficient capital and that the technology will be as effective as expected.

However, forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from the expected, expected, or implied future results in such forward-looking statements.

explanation. These risks include but are not limited to, the inability to obtain sufficient capital and financing on reasonable terms if the technologies are not as effective as expected, which customers and prospects will not receive from the company. last. and service offerings as expected and governmental and regulatory factors affecting the energy-saving industry.

Control BioCloud is an air quality technology and not a medical device. The company makes no express or implied claims that the COVID-19 (or SARS-Coronavirus) product can eliminate, cure or control it.

Therefore, undue reliance should not be placed on any forward-looking statements and the forward-looking statements contained in this press release are expressly set forth in this announcement in their entirety. The forward-looking statements in this document are made as of that date and are based on management’s beliefs, estimates, expectations, and opinions as of that date.

Control assumes no obligation to update or revise any forward-looking statements or statements in other documents, as a result of new information, future events, or otherwise, or to reflect material differences between actual subsequent events. and such future information, except as required by applicable security laws. Readers are advised to carefully consider these and other potential factors, uncertainties, and events and not to place undue reliance on forward-looking information.

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