Hammer Fiber Optics Holdings Corp Announces Financial Results for Quarter Ended October 31, 2020
NEW YORK, Dec. 15, 2020 (GLOBE NEWSWIRE) — Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) announced operating and financial results for the fiscal quarter ended October 31, 2020.
Key results include:
Total revenues for the quarter were $484,842, increasing over the fourth quarter of Fiscal 2019. The increase was due to strong performance from Hammer’s SMS messaging practice.
EBITDA (non-GAAP) loss for the quarter decreased to $15,572. The company had positive cash flows in the final month of the quarter (unaudited) and anticipates positive cash flow on a forward-looking basis.
Development of the HammerCall video conferencing product has now been completed, and final versions of the mobile applications for IOS and Android will be available in December. Hammer intends to pursue direct sales as well as sales through multiple white label partners.