CALGARY, Alberta, May 28, 2021 (GLOBE NEWSWIRE) – GINSMS Inc. (TSXV: GOK) (the “Company”) announced its financial results for the first quarter ended March 31, 2021.

GINSMS ‘full financial results are available at www.sedar.com. Strengths include:

• Revenue of $ 536,186 for the three-month period ended March 31, 2021, compared to $ 724,746 for the three-month period ended March 31, 2020.
• Gross profit of $ 215,301 for the three-month period ended March 31, 2021 compared to gross profit of $ 260,704 for the three-month period ended March 31, 2020.
• Operating and financial expenses have increased from $ 492,006 for the three-month period ended March 31, 2020 to $ 209,618 for the three-month period ended March 31, 2021.
• Net income of $ 5,683 for the three-month period ended March 31, 2021 compared to a net loss of $ 231,095 for the three-month period ended March 31, 2020.

Information on selected profits and losses

(1) Adjusted EBITDA is a non-IFRS measure that does not have any standardized meaning under IFRS. Adjusted EBITDA is related to cash flow earnings and is defined for these purposes as earnings before income taxes, depreciation and amortization (both in cost of sales and general and administrative expenses), interest expense and also excludes certain non-recurring or non-monetary expenses. and income. This non-IFRS measure is not recognized under IFRS and, therefore, shareholders are cautioned that this measure should not be interpreted as an alternative to net income determined in accordance with IFRS. The non-IFRS measure presented is unlikely to be comparable to a similar measure presented by other issuers. The Company considers Adjusted EBITDA to be a meaningful financial measure because it measures the cash flow generated from operations that the Company can use to fund working capital requirements, service interest, and principal debt repayment. and fund future growth initiatives.

About GINSMS

GINSMS is a mobile technology and services company that focuses on 2 areas namely its A2P messaging service and software products and services. GINSMS operates a cloud-based A2P messaging service that enables SMS termination to mobile subscribers of over 200 mobile operators around the world. GINSMS also develops and distributes innovative software products and services for mobile operators and businesses and has successfully deployed more than 100 solutions worldwide. GINSMS has offices in China, Singapore, Hong Kong, Malaysia and Indonesia.

Forward-looking statements

Certain information included in this management report may contain forward-looking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “could”, “will”, “expect”, “intend”, “estimate”, “anticipate” , “Believe”, or “continue” or the negative of it or variations on it or similar terminology. These statements are not historical facts, but reflect the current beliefs of management and are based on information currently available to management regarding future results and events. In particular, these forward-looking statements are based on management’s estimate of future events based on technological advancements relating to the Company’s services, current market conditions and management’s past experiences with regard to the impact of certain income contracts. Forward-looking statements, by their very nature, involve important risks, uncertainties and assumptions.

A number of factors could cause actual results to differ materially from results discussed in forward-looking statements, including, but not limited to, dependence on required licenses, dependence on major customers, system outages, delays and other issues, security and privacy breaches. , adequacy of network resilience, diversity of network and back-up systems, loss of important information, inability to develop, improve or introduce new value-added services, competition, reliance on third party software and equipment, market acceptance at desired price levels, key members of the management team, trade receivables credit risk, conflicts of interest, inability to meet customer demand for performance, price or terms, international risks and the potential impact of the COVID-19 pandemic declared by the World Health Organization on March 11, 2020 (“COVID-19”). Although the Company has attempted to identify material factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or or results differ from those expected, estimated or intended. Although the forward-looking statements contained herein are based on what management believes to be reasonable assumptions, the Company cannot assure the reader that actual results will be consistent with these forward-looking statements.

In particular, forward-looking statements include the following assumptions:
Management believes that the Company’s software products and services should take a different direction based on an outsourcing model approach taking advantage of the lower cost base in Indonesia and Malaysia. Therefore, the revenue of software segment in Indonesia and Malaysia is expected to continue to increase.

Management is confident that the future growth of messaging lies in the area of ​​application-to-person (“A2P”) messaging and that the Company’s investment in this area will create a viable and profitable business in the future. .

Management is satisfied that the Company is able to generate sufficient liquidity from its operating and financing activities to meet the working capital requirements of its current operations.

These forward-looking statements are made as of the date of this MD&A and the company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Therefore, readers should not place undue reliance on forward-looking statements. All forward-looking statements contained in this MD&A are qualified by this cautionary statement.

For more information, please contact:

GINSMS Inc.
Joel Chin, CEO
Phone: + 65-6441-1029
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.