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     113  0 Kommentare BEACN Announces Financial and Operational Results Year Ended December 31, 2023

    Not for distribution to United States Newswire Services or for dissemination in the United StatesBEACN ends year with year-over-year growth in last half of 2023. VICTORIA, BC / ACCESSWIRE / May 27, 2024 / BEACN Wizardry & Magic Inc. (TSXV:BECN) …

    Not for distribution to United States Newswire Services or for dissemination in the United States

    BEACN ends year with year-over-year growth in last half of 2023.

    VICTORIA, BC / ACCESSWIRE / May 27, 2024 / BEACN Wizardry & Magic Inc. (TSXV:BECN) ("BEACN" or the "Company"), after announcing a delay in filing its annual financial statements on May 3 2024, is pleased to report that these statements have now been filed on SEDAR and BEACN has applied to the TSXV to have its trading reinstated after it was halted on May 7, 2024.

    Sales of BEACN content creator audio products for the year ended December 31, 2023, resulted in revenue of $2,933,180 (2022 $4,325,458) gross profit of $1,079,875 (36.8%) (2022 $1,636,687, 37.8%) and net loss of $2,281,917 (2022 loss of $451,154). The Company achieved $951,370 in sales for the three months ended December 31, 2023 (2022 - $790,464), which resulted in 21% growth in the last half of 2023 over the previous year. Further information is available from the Company's financial statements for the year ended December 31, 2023, available under the Company's profile on SEDAR at www.sedar.com.

    BEACN continues to invest in product development and plans to introduce new product in the near term. The Company is also pleased with its initial traction into B2B sales and expects that an increased retailer base, its growing strategic distribution network and the introduction of additional products will lead to increased sales and profitability in the future.

    "We are a team that loves to develop new products for our customers. In 2023, we continued to focus on our product development pillar while adding another core pillar - BEACN's B2B sales program. Our B2B partners want to capitalize on the rapidly expanding content creator market and our message to retailers and distributors has been - we can help with that - and we have," says BEACN CEO, Craig Fraser.

    In fourth quarter 2023 and first quarter 2024, BEACN capitalized on its introduction of BEACN Mic Stand - a strong addition to BEACN's D2C bundles and an attractive accessory for consumer electronics retailers.

    BEACN products include BEACN Mix, BEACN Mix Create (not pictured), BEACN Mic and BEACN Mic Stand for content creators - photo credit - BEACN 2024

    In 2024, BEACN will continue to pursue its B2B retail and distribution strategy, increase sales and marketing initiatives, and bolster its distribution network for enhanced delivery access to consumers and B2B customers. The introduction of the new product in 2024 is expected to help increase gross margin and profitability in future periods.

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    BEACN Announces Financial and Operational Results Year Ended December 31, 2023 Not for distribution to United States Newswire Services or for dissemination in the United StatesBEACN ends year with year-over-year growth in last half of 2023. VICTORIA, BC / ACCESSWIRE / May 27, 2024 / BEACN Wizardry & Magic Inc. (TSXV:BECN) …

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