American Marconi Wireless News - BEACN Announces Financial Results for the First Quarter of 2026 and Update on Loan

VICTORIA, BC / ACCESS Newswire / May 29, 2026 / BEACN Wizardry & Magic Inc. (TSXV:BECN) ("BEACN" or the "Company") announces its Q1 financial statements and accompanying MD&A have been filed. For the three months ended March 31, 2026, the Company achieved sales revenue of $490,340 (2025 - $793,954), gross profit of $224,832 (46%) (2025 - gross profit of $344,558 (43%)) and a net loss of $423,478 (2025 - loss of $458,689).

Further information is available from the Company's financial statements for the period ending on March 31, 2026, on SEDAR at www.sedar.com.

"We've remained resilient through supply challenges. While near-term results reflect those pressures, we're encouraged by the early response to the BEACN Headset and continue to sharpen our focus on execution on our path forward," says BEACN CEO, Kevin Alexander.

BEACN continues to navigate the challenges presented by current market conditions while maintaining its focus on product development. The Company is expanding its product suite and plans to introduce additional products in 2026. BEACN thanks its shareholders for their continued support and remains encouraged by the opportunities ahead.

BEACN would like to share clarifications on the Loan Program announced on May 13, 2026. This Loan Program did not include any finder's fees, commissions or other direct or indirect compensation. When the 10% fixed premium along with the principal amount of the loan is repaid, there will be no on-going premiums or payments required on the applicable product or inventory. Any premium or principal amounts under this Loan Program are not convertible into securities of BEACN without prior approval of the Exchange.

About BEACN

BEACN (TSXV:BECN), a Victoria BC based consumer electronics company, develops innovative audio equipment, peripherals and technology for gamers, live streamers, and content creators. BEACN is committed to delivering premium products that enable everyone to produce studio-quality content. BEACN's award-winning product ecosystem includes BEACN Mic, BEACN Studio, BEACN Mix and BEACN Mix Create. BEACN is listed on the TSXV under the symbol BECN.

Media & Investor Enquiries

Liberty Brunet
[email protected]
+1 (778) 561-1450

Cautionary Note Regarding Forward-Looking Information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "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. These forward-looking statements include, among other things, statements relating to: (a) B2B Retail Strategy; (b) Online, Direct to Consumer Sales Strategy; (c) Product Design & Introduction; and (d) Quarterly Earnings.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation: (a) Company's cost and timing expectations are accurate; (b) Company will be successful in the deployment of its resources and personnel; (c) Company's ability to maintain manufacturing volume for its products and its ability to sustain sales of products to customer; and (d) general economic and market conditions will not change in an adverse manner; political and regulatory stability including in financial and capital markets.

Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) risks that the supply chain disruption that may lead to a shortage of inventory for sale and/or delay introduction of new product; (b) risks that economic or other factors beyond the control of the Company may influence the purchasing behavior of customers; (c) risks that the volatility of global capital markets may adversely impact the Company's business and operations; and (d) risks that the Company could face technology or software disruptions.

The forward-looking statements contained in this press release represent management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release. We seek safe harbor.

Reader Advisory

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.

SOURCE: BEACN Wizardry & Magic Inc.

View the original press release on ACCESS Newswire

Y.Kobayashi--AMWN