NIAGARA FALLS, ON / ACCESSWIRE / November 2, 2021 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT" or the "Company"), a global leader in renewable energy solar and wind technologies, is pleased to report its third quarter financial results for the period ended August 31, 2021 ("Q3, 2021").
EHT would like to highlight the positive impact of the acquisition of Windular Research and Technologies Inc. ("Windular") and the reduction of the outstanding debentures completed August 25, 2021.
- Revenues for the quarter increased from $65,285 in Q3 2020 to $436,902 for Q3 2021, an increase of over 569%.
- Principal on the 18% debentures decreased by $7,229,000 with significant savings of over $1,300,000 in interest expense per annum to the Company.
- Shareholder Equity improved from November 30, 2020, ($32,393,281) to August 31, 2021, of ($2,788,498). This is an improvement (gain) of $29,604,783 due to our comprehensive restructuring completed in 2021. With the ramp up of sales and profit from EHT business lines, we will be able to achieve a cash positive Shareholders Equity in the near future.
John Gamble CEO commented: "The completion of share consolidation, debt restructuring and financing in Q3, was the biggest and most significant change in the Company's financial position since inception. Our full focus for the quarter was to ensure these transactions were successfully completed. This coupled with the addition of Windular, means we now have a strong balance sheet moving forward to execute our business plan. With the announced revenues from Bell Canada in Q4 and ground-breaking in Puerto Rico, we are beginning to position the Company for significant revenue growth. The steps we are taking now will set us up for a very positive 2022 with over $50M of revenue expected from our Puerto Rico Net-Zero housing developments among our many other initiatives from Windular's work with global telecoms to our SolaStream and Agriculture technology."
The below table outlines the impact of the transactions completed during this quarter as well as providing a summary of the share capital structure:
|Post-Transaction Cap Table|
|Undiluted||Percentage (Undiluted)||Fully Diluted||Percentage |
Windular ($15,000,000 @ 0.70 Shares)
Debenture-holders ($14,228,110 @ 0.70 Shares)
Financing ($3,566,400 @ 0.70 Units)
Total Issued & Outstanding
Highlights for the three-months period ended August 31, 2021:
- Acquired all of the issued and outstanding shares of Windular in an all-share transaction valued at $15 million. Under the Acquisition, the Company has issued 21,428,572 common shares (the "Issued Shares") to the Windular shareholders at a deemed price of $0.70.
- Entered into agreements with certain debtors and creditors, including certain debenture holders to settle an aggregate of $14,228,109.94 in debt through the issuance of 20,325,871 common shares of the Company at a deemed price of CAD $0.70 per Settlement Share in accordance with the policies of the TSXV.
- Closed a non-brokered private placement offering for 5,094,857 units (each, a "Unit") at a price of CAD $0.70 per Unit for the total gross proceeds of $3,566,399.90.
The full copy of EHT's Q3, 2021 results have been filed on SEDAR and will also be available on the Company's website.
About EnerDynamic Hybrid Technologies
EHT (TSXV:EHT) delivers proprietary, turn-key energy solutions which are intelligent, bankable, and sustainable. Most energy products and solutions can be implemented immediately wherever they are needed. EHT stands above its competitors by combining a full suite of solar PV, wind, and battery storage solutions, which can deliver energy 24 hours per day in both small-scale and large-scale format. In addition to traditional support to established electrical networks, EHT excels where no electrical grid exists. The organization supplies advanced solutions for various industries in combination with energy saving and energy generation solutions. EHT's expertise includes the development of module structures with full integration of smart energy solutions. These are processed through EHT's production technologies into attractive applications: modular homes, cold storage facilities, schools, residential and commercial outbuildings, and emergency/temporary shelters. The Windular Research and Technologies Inc. (WRT) division provides leading edge wind technology to the global telecommunication market whereby the WRT system can be implemented directly on any configuration of existing or new towers. WRT provides a renewable source of power in remote and rural locations where the primary source of power is diesel. WRT's innovative system provides clients with a lower overall operating cost as well as a reduction in their carbon footprint.
For further information, please contact:
Chief Executive Officer
EnerDynamic Hybrid Technologies Corp.
Email: [email protected]
Neither the 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.
The statements herein that are not historical facts are forward‐looking statements. Forward-looking information relating to sales of the products (the "Opportunities") involves risk, uncertainties and other factors that could cause actual events, results, performance, prospects, for the Opportunities to differ materially from those expressed or implied by such forward-looking information. Although EHT believes that the assumptions used in preparing the forward-looking information on the Opportunities outlined in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. EHT disclaims any intention or obligation to update or revise any forward-looking information, whether a result of new information, future events or otherwise, other than as required by applicable securities laws.
SOURCE: EnerDynamic Hybrid Technologies Corp.