November 30, 2020 5 min read
November 30, 2020 – Toronto, Ontario –American Aires Inc. (CSE: WIFI) (the "Company" or "Aires") is pleased to announce the financial results for the three months ended September 30, 2020. All financial information is provided in Canadian dollars unless otherwise indicated.
Key Third Quarter Highlights:
The Company reported a net loss of $0.01 per share for the three months ended September 30, 2020 compared to $0.00 for the same period in 2019.
The increase in the net loss over the comparative periods is principally a result of:
“We are thrilled with our third quarter results which were highlighted by the success of our increased presence on the world’s leading e-commerce and sales platforms and by meeting the changing needs of consumers as the threat of electromagnetic radiation increases,” commented Dimitry Serov, President and CEO. “With everything in place 2021 will focus on global expansion and the move to profitability,” further adds Dimitry.
As American Aires looks towards the future there are lots of reasons for excitement. 2020 was very much an investment year for the Company, as the focus was on the creation of strong sales and infrastructure partnerships with the goal of creating an infinitely scalable direct to consumer eCommerce platform. Aires also spent significant time and effort in developing their new 5G optimized LIFETUNE line of products for home, office and pets. Having accomplished both of these initiatives, Aires can look to 2021 with profitability as the focus. The new LIFETUNE line of 5G product offerings will only help to improve the Company’s consistently increasing sales as the new products have a Gross Margin as high as 70%+. Also, LIFETUNE will allow Aires to tap into the pet industry, a brand-new market space, thanks to the release of their pet specific product.
As a result of a combination of all of these factors, the Company expects to end 2021 at $10M+ in revenue with 400% growth, projecting to breakeven by July 2021.
“2020 has been an important year for us as we focused our attention on building infrastructure and positioning American Aires for exuberant revenue and earnings growth in 2021. We are pleased to see that this is already being realized as shown in these third quarter results,” further adds Dimitry.
About American Aires Inc.
American Aires Inc. is a 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. The technology specifically targets cellphones, computers, baby monitors, Wi-Fi radiation and general EMR emitted by consumer electronic devices. Aires has launched a full suite of consumer products under the brand name “Airestech” for use on almost all consumer electronic devices. The Company has adopted a global ecommerce and distribution platform that scales easily as sales grow. Since launching in 2019, Aires has enjoyed exuberant growth. The company has been aggressively building out their ecommerce platform which is now capable of delivering up to 10,000 shipments a day along with recent customer service center agreements. Strategically placed fulfillment centers have been secured to ensure prompt delivery around the globe (see PR Jan. 31, 2020).With the launch of 5G networks around the world, this year, we are seeing an increase of news, reports and leading health organizations discussing the potential harm of EMR and the importance of identifying solutions to reduce these harmful rays. Aires products are the solution.
On behalf of the board of directors
For further information please contact:
Investor Cubed Inc.
Neil Simon, CEO
Phone: (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.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The Shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. We seek safe harbour.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Not intended for distribution to United States Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of United States Securities laws.
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