SARASOTA, Fla., April 17, 2013 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (AXLX.PK), an International Technology and Services Organization focused on delivering 'Cloud' Products and Services, today announced that it has filed unaudited results for the three and nine months ended February 28, 2013, via the OTC Markets Disclosure & News Service.
Key results were:
- Revenues of $710,678 for the nine month period versus zero revenues for the same period last year.
- Revenues were $241,950 for the three months ended February 28, 2013.
- Gross margins continue to be 95% as per previous guidance.
- Generated positive cash flows from operations of $27,623 in the current quarter increasing the total cash from operations to $52,750 for the nine months ended February 28, 2013.
- Cash increased by $72,879 for the nine months ended February 28, 2013.
Full details of the Company's Quarterly Report are accessible at http://www.otcmarkets.com/stock/AXLX/filings
Vincent Browne, Chairman and Chief Executive of Axiologix, Inc. said, "This has been another positive quarter for us in maintaining positive operational cash flow position, increasing our cash position and securing the $800,000 equity transaction with institutional investor, Ironridge Technology Co. With the Ironridge transaction completed, we have significantly strengthened our Balance Sheet, which will help us a great deal in securing the necessary funding to close the pending acquisition of a company which will contribute more than $5 Million in revenues. We have reported positive working capital and a shareholders equity surplus for the first time. We have also gained a very supportive investor to help move the Company forward and execute our ambitious growth plans."
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About Axiologix, Inc.
Axiologix, Inc. is an International Technology and Services Organization focused on delivering Cloud-based Products and Services to small and medium sized businesses primarily in the United States and to operators globally. Axiologix is headquartered in Florida, with international operations in Dublin, Ireland. Additional information may be found at www.axiologix.net
This press release contains forward-looking statements. Words such as "expects", ``intends'', ``believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE Axiologix, Inc.