ATI AirTest Technologies Inc. Reports 2nd Quarter Financials

Delta, British Columbia--(Newsfile Corp. - August 31, 2022) - ATI AirTest Technologies Inc. (TSXV: AAT) (OTC Pink: AATGF) CEO Ted Konyi is very pleased to announce its financial results for the quarter ended June 30, 2022. For complete details please refer to the Financial Statements and associated Management's Discussion and Analysis for the three and six months ended June 30, 2022, available on SEDAR (www.sedar.com) or the Company's website (www.Airtest.com). All amounts are in Canadian Dollars unless otherwise indicated.

Q2 2022 Financial Highlights

  • The Company generated revenues of $631,336 (June 30, 2021 - $507,885) for the three months ended June 30, 2022, and total revenues of $1,360,170 (June 30 2021 - $1,127,757) for the six months ended June 30, 2022.
  • Revenues in Q2 2022 increased by $123,451 from Q1 2022, representing a 24.3% increase in revenues.
  • The net loss for the quarter was $283,682 (June 30, 2021 - $326,188), representing a reduction in net loss of 13%.

Q2 2022 Operational Highlights

  • The Company continues to have success with its base of specifying engineering firms and mechanical contractors. New construction projects continue to provide the backbone of the Company's increasing base of revenue.
  • Several OEM clients renewed their ordering of sensor elements for increases in supplying new construction and retrofit markets.
  • The IAQEye™ is meeting with interest from various school systems and several retail chains. The Company anticipates several new installations over the next few quarters.

About ATI AirTest: ATI AirTest Technologies is a Green-Tech company specializing in Demand Control Ventilation systems that improve commercial building operating efficiency and generate proven energy savings. The company has developed new wireless sensors with dynamic real-time communication and control technologies, which builds upon ten years of experience and thousands of installations amongst clients such as Lowe's, Shoppers Drug Mart and Ikea. AirTest solutions provide data on levels of Indoor Air Quality required by Schools, Retail Stores and Offices.

For further information, please contact:

Mr. Ted Konyi, CEO

Phone: (604) 225 2209
Fax :(604) 517 3900
Email: ted.konyi@airtest.com
Website: www.airtest.com

Legal Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements." Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as "expect", "anticipate", "intend", "plan", "believe", "estimate" and words of similar meaning. Forward-looking statements are based on management's current expectations and assumptions, and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include those concerning the Company's belief in the energy savings that can be achieved through installation of the Company's products and that these installations lead to reduced maintenance, downtime expenses, future cost savings, and improvements in the bottom line. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward-looking statements. Risks that may prevent or delay the forward-looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward-looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company's website, www.airtest.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135533

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