MONROVIA, Calif., April 23, 2014 (GLOBE NEWSWIRE) -- Everlert, Inc. (the "Company") (OTC:EVLI), reported its unaudited financial results for the year ended December 31, 2013. Below are just a few of the notable highlights reflected in the filing.
Highlights for the Year Ended December 31, 2013 vs December 31, 2012
- Net Revenue increased by approximately 224% or $466K compared to 2012.
- Of the Company's $5.4M Accumulated deficit, $4.1M was attributable and separately classified in the balance sheet as being related to discontinued operations, meaning the continuing operations only resulted in a $1.2K accumulated deficit.
- The Company's cash position at December 31, 2013 was $34K, which was $30K greater than the $4K balance for FYE 2012.
- The Company's Accounts Receivables balance decreased by $19.7K, from $21K in 2012 to $1.6K in 2013, representing management's higher success rate in collecting receivables.
- Inventory increased by $141,450 from 2012 to 2013, as result of increased trade terms together with the increase in projected sales.
- The Company was able to purchase its first DF-Flatscan X-ray unit from its Brazilian supplier (VMI) for $108,250 and pay for half the cost of the unit upon delivery. This purchase also partially accounted for the increase in inventory.
- The Company was able to cover the costs of preparing for two high-profile industry trade shows, which helped to give the Company significant brand recognition in its respective industries.
- The company was able to secure $325,000 in capital from private placement investments during Q4.
- Intangible Assets increased by $1,050,000 due to the licensing agreement entered with Registered Express Corporation for technologies related to online document delivery, document storage, secure data centers, electronic communications, as well as the use of RGTX's trademarks, as well as the ability to utilize the expertise provided by REGTX to Mailroom Disaster Planning, Management, and Recovery.
- The Company was able to engage Kyle Tingle, CPA as the auditor of the Company, who is in the process of conducting a full scope audit of the first quarter ended March 31, 2014. This will help to make the financial statements more transparent and a stepping stone to becoming a fully reporting company with the SEC, which the Company expects to accomplish in the near future.
Robert Hymers, President and CEO of the Company, stated, "The Company's performance in 2013 generated record profits, increased assets and positively positioned the Company for future growth opportunities. In addition, we added on new business segments and related revenue channels by introducing the Flatscan x-ray scanners. We are pursuing additional revenue opportunities in 2014. We are encouraged by our results and are dedicated to delivering on our commitment of strong earnings and continued double digit sales growth over a multiyear span."
The 2013 annual report is available on the OTC Markets at the following link: http://www.otcmarkets.com/financialReportViewer?symbol=EVLI&id=118793.
Everlert, Inc. is in the business of Mail Management solutions and management through Totalpost Services, Inc., it is one of the most prominent providers of quality ink cartridges in the U.S. postage meter industry. Pitney Bowes, Neopost/Hasler, FP are a few of the meter cartridge manufactures that Everlert produces and distributes compatible cartridges for their machines. Virtually all U.S. based businesses use a postage meter cartridge on a daily basis to fulfill their mailing needs, creating a large demand for our quality cartridges.
Totalpost's brand and reputation is expanding into other highly profitable business markets such as mailroom equipment, mailroom services, returned mail recycling, disaster planning and recovery for the mail recovery functionality for companies, and its Forensic and Security Division for representation of its line of forensic and security x-ray scanning equipment. Our purpose is to create added value through enhancements and other improvements. Everlert, Inc. is a Nevada corporation and its corporate operations are located in Monrovia, California.
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will,'' "anticipates,'' "believes,'' "plans,'' "goal,'' "expects,'' "future,'' "intends,'' and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release.
CONTACT: Everlert, Inc. 825 South Primrose Avenue, Suite A Monrovia, California 91016 Tel: (626) 263-5940 Fax: (626) 739-5754 www.everlert.netSource:Everlert Inc.