Press release from CNW Group
Botaneco Releases Year Ended December 2012 Results
Tuesday, April 30, 2013
Botaneco Releases Year Ended December 2012 Results16:00 EDT Tuesday, April 30, 2013
WINCHESTER, ON, April 30, 2013 /CNW/ - Botaneco Corp. (the "Company") (TSXV: BOT) reports that revenue of $3,160,569 was recorded for the year ended December 31, 2012 representing an increase of $1,294,063 (69%) over the prior year. These increased revenues are primarily attributable to the sales generated by Natunola of $1,854,929. Of the total revenue, $1,223,796 was provided by discontinued operations. The discontinued operations refer to the assets and liabilities held for sale of Botaneco Specialty Ingredients Inc., a wholly owned subsidiary, based in Calgary, AB as disclosed in an earlier press release dated March 28, 2013.
A net loss of $3,017,913 was recorded for the year ended December 31, 2012, a decrease of $843,199 over the prior year. This reduced loss was attributable primarily to: (a) an increase in revenues and gross profit due to the acquisition of Natunola that occurred in October 2011; and (b) a reduction in G&A expenses occurring due to reduced employment costs as the number of higher earning employees has been reduced since the previous year. Of this loss, $1,550,544 was due to discontinued operations.
Basic and diluted loss per share was $0.04 for the year ended December 31, 2012 compared to $0.10 in the previous year.
Detailed financial statements and the Management Discussion and Analysis can be found at the company website site at www.botanecocorp.com or www.sedar.com
About the Company:
For more information regarding Botaneco Corp., please visit www.botanecocorp.com or www.sedar.com
Some of the statements contained in the release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Botaneco Corp.
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