American Marconi Wireless News - Forward Water Technologies Announces Financial Results for the Fifteen-Month Period Ended March 31, 2025

Financial Highlights

The fifteen-month period ended March 31, 2025 represents nine months of FMAC and six months of post transaction results:

Revenue: $70,514
Net Loss and Comprehensive Loss: $(1,678,555)
Loss Per Share: $(0.053)
Total Assets: $3,744,565
Cash at End of Period: $673,249

Operating Highlights and Recent Corporate Developments

• On September 30, 2024, FWTC completed a reverse takeover transaction with Fraser Mackenzie Accelerator Corp. ("FMAC") (the "Transaction"), pursuant to which FWTC acquired all of the issued and outstanding securities of FMAC in exchange for securities of FWTC by way of an amalgamation between FMAC and 1000925180 Ontario Limited (a wholly-owned subsidiary of FWTC incorporated for the sole purpose of facilitating the Transaction). Upon completion of the amalgamation, the amalgamated corporation became a wholly owned subsidiary of FWTC. The Transaction constituted the qualifying transaction of FMAC under the policies of the TSX Venture Exchange.

Management Commentary

Forward Water's CEO C. Howie Honeyman commented, "Following the successful completion of our most recent trial-carried out in collaboration with key partners and culminating in the production of battery grade lithium carbonate-we can confidently assert that the iFO™ process presents clear advantages over conventional water treatment methods. FWTC will now leverage this experience to validate the technology in other brine management sectors, including produced water. Moreover, we are exploring new applications in the food & beverage industry, which will serve to significantly expand our client base."

Summary of Financial Results

Income Statement

Balance Sheet

Statement of Cash Flows

About Forward Water Technologies Corp.

Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. In addition, the Company has initiated early stage R&D for the treatment of food and beverage process streams.

For more information, please visit www.forwardwater.com.

Contact Information

For more information or interview requests, please contact:
C. Howie Honeyman - Chief Executive Officer
[email protected]
519 333 5888

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 news release.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws including statements regarding expansion and uptake of the Company's technology and the ability for the Company to achieve its growth strategy and business plan. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.

SOURCE: Forward Water Technologies Inc.

View the original press release on ACCESS Newswire

D.Sawyer--AMWN