TORONTO, Aug. 27, 2024 /CNW/ - Genifi Inc. (formerly Prodigy Ventures Inc.) (TSXV:GNFI) ("genifi" or the "Company") today announced its financial results for the three and six months ended June 30, 2024.
Second Quarter 2024 Financial Results
Revenue for the three months ended June 30, 2024 totalled $256,030 as compared to $493,534 for the three months ended June 30, 2023, a decrease of 48%.
Gross profit for the three months ended June 30, 2024 of $127,813 as compared to $339,163 for the three months ended June 30, 2023, a decrease of 62%.
Expenses for the three months ended June 30, 2024 of $270,161 as compared to $888,323 for the three months ended June 30, 2023, a decrease of 70%.
Net loss from continuing operations for the three months ended June 30, 2024 of $104,032 as compared to a loss of $486,950 for the three months ended June 30, 2023.
Income from discontinued operations net of tax for the three months ended June 30, 2024 of $82,898 as compared to $nil for the three months ended June 30, 2023.
Net and comprehensive loss for the three months ended June 30, 2024 totalled $21,134 as compared to $486,950 for the three months ended June 30, 2023.
The Company had working capital of $2,716,162 as of June 30, 2024 compared to $2,901,095 as of December 31, 2023.
Year-to-Date 2024 Financial Results
Revenue for the six months ended June 30, 2024 totalled $515,572 as compared to $990,578 for the six months ended June 30, 2023, a decrease of 48%.
Gross profit for the six months ended June 30, 2024 of $252,150 as compared to $687,237 for the six months ended June 30, 2023, a decrease of 63%.
Expenses for the six months ended June 30, 2024 of $606,389 as compared to $2,217,925 for the six months ended June 30, 2023, a decrease of 73%.
Net loss from continuing operations for the six months ended June 30, 2024 of $265,670 as compared to $1,267,403 for the six months ended June 30, 2023.
Income from discontinued operations net of tax ...
