American Aires Provides Clarity on the Fourth Quarter Revenue Press Release Issued February 11, 2021
Toronto, Ontario--(Newsfile Corp. - April 14, 2021) - American Aires Inc. (CSE: WIFI) (the "Company" or "Aires") a nanotechnology-focused disruptor focused on developing products that reduce the harmful effects of electromagnetic radiation ("EMR") emitted by everyday consumer electronic devices, would like to clarify the press release issued February 11 of this year (February 11, 2021: https://www.airestech.com/american-aires-reports-record-4th-quarter-2020-revenue/).
Aires has received inquiries in regards to the fourth quarter revenue number shown under "highlights" in the first bullet point. The release is accurate and references fourth quarter 2019 revenue.
The original release stated:
- Year-over-year Revenue Expansion: Relative to the fourth quarter of 2019 which recorded sales of $216 thousand, Q4 2020 revenue increased by more than 300%, driven by the Company's successful efforts to attract new customers following enhanced marketing efforts and the launch of its new Lifetune product line.
To clarify the previous release, it should be noted that the unaudited fourth quarter revenue for the period ending December 31, 2020 was $845,751.00
Dimitry Serov, CEO commented, "We are pleased to issue this clarification release as it appears there has been some confusion regarding this piece of information in the February 11th release. We apologize if this has caused any inconvenience or confusion."
About American Aires Inc.
American Aires Inc. is Canadian-based nanotechnology company which has developed proprietary silicon-based microprocessors that reduce the harmful effects of electromagnetic radiation (EMR). The technology was developed by a team of highly credited scientists and confirmed by independent third-party validation including peer reviewed studies and publications in scientific journals. Aires' Lifetune products specifically target EMR emitted by consumer electronic devices such as cellphones, computers, baby monitors, Wi-Fi radiation, including the rapidly expanding next-generation high-speed 5G networks. Aires is listed on the CSE under ticker 'WIFI'. Learn more at www.airestech.com.
On behalf of the board of directors
For further information please contact:
Investor Cubed Inc.:
Neil Simon, CEO
Telephone: (647) 258-3310
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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