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Aquarius Surgical Technologies Reports Increased Sales in the First Half of 2020

November 26, 2019
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TORONTO, ON / ACCESSWIRE / November 26, 2019 / Aquarius Surgical Technologies Inc. (CSE:ASTI) ("ASTI" or "the Company"), an exclusive provider of innovative, minimally invasive medical laser systems and consumables for multiple medical disciplines ...
1 of 2
TORONTO, ON / ACCESSWIRE / November 26, 2019 / Aquarius Surgical Technologies Inc. (CSE:ASTI) ("ASTI" or "the Company"), an exclusive provider of innovative, minimally invasive medical laser systems and consumables for multiple medical disciplines ...

TORONTO, ON / ACCESSWIRE / November 26, 2019 / Aquarius Surgical Technologies Inc. (CSE:ASTI) (“ASTI” or “the Company”), an exclusive provider of innovative, minimally invasive medical laser systems and consumables for multiple medical disciplines in the field of urology, today announced financial results for the six-month period ended September 30, 2019. The full report is available on www.SEDAR.com.

Financial Highlights for the First Half of 2020*:

* All amounts expressed are in Canadian dollars. All comparisons are relative to the six-month period ended September 30, 2018.

Gordon Willox, Founder & President of ASTI, said: “We are certainly happy to see such a significant ramp-up in sales compared to last year, but the work doesn’t stop here. Now that our technology has been successfully tested by numerous well-regarded surgeons and institutions, we see a huge demand for our products and our main priority now is to be able to satisfy this demand. ASTI’s existing sales teams in the US are showing increased activity, and the private placement we are working on at the moment will help us set up more teams, which would ultimately result in increased revenue for the Company.”

ASTI is in the process of raising up to $3 million via a Private Placement offering, the net proceeds of which would go towards adding more sales teams to further grow the Company’s market presence. The Company has also recently partnered with Dext Capital, a $10B capital-backed American independent lessor. The partnership expects to significantly increase the probability for medical organizations to acquire ASTI’s unique technology solutions.

About Aquarius Surgical Technologies Inc.

Aquarius Surgical Technologies (ASTI: CSE) is an exclusive provider of innovative, minimally invasive medical laser systems and consumables for multiple medical disciplines, principally in the field of urology. Solutions also include clinical education, service, support and maintenance. ASTI is focused on increasing the availability of services for patients, enhancing the quality of patient care, improving operationally efficiencies and reducing total operational costs. Learn more by visiting the Investors tab on ASTI’s website https://surgicallasersinc.com/.

For more information, please contact:

Gordon Willox, President

Phone: 844-441-9090

Phone: 905-853-9090

Cathy Hume, Investor Relations

Phone: 416-868-1079 x 231

Email:

Neither the CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.

Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Aquarius Surgical Technologies Inc. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Aquarius Surgical Technologies Inc.

Three Months Ended Six Months Ended
30-Sep-1930-Sep-1830-Sep-1930-Sep-18

Sales

$$$

Equipment

100,28559,295326,01359,295

Fiber sales

111,04362,014174,23489,528

Equipment rental

4,043-17,103-

Other

(366)6187561
215,005121,370518,225148,884

Cost of sales

118,68183,116275,965109,270

Gross Margin

96,32438,254242,26039,614

Expenses

General and administrative

364,062332,155742,626696,667

Bank charges and interest

80,2674,034158,8226,585

Amortization

33,54712,79866,80825,596
477,877348,988968,257728,848

Net loss before other items

(381,552)(310,734)(725,996)(689,234)

Other items:

Interest income

4,0097,1367,3907,136

Net loss for period

(377,543)(303,598)(718,606)(682,098)

Loss per share, basic and diluted

$(0.018)$(0.016)$(0.035)$(0.036)

Weighted average number of shares outstanding

21,095,78419,381,61520,378,27219,124,187

SOURCE: Aquarius Surgical Technologies Inc.

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