UNIQUE BROADBAND SYSTEMS, INC. REPORTS FISCAL 2016 RESULTS
TORONTO, CANADA (December 15, 2016) – Unique Broadband Systems, Inc. (“UBS” or the “Company”) (NEX: UBS.H) today reported its financial results for the year ended August 31, 2016.
Financial highlights (in thousands, except per share amounts) include the following:
- UBS recorded a net loss from operations of $2.36 million or a weighted average loss per share of $0.19, basic and diluted, for the year ended August 31, 2016. The loss from operations included non-cash impairments totaling $1.98 million, as outlined in notes 6 and 8 respectively, in the Company’s audited consolidated financial statements for the years ended August 31, 2016 and 2015. The comparative loss for the year ended August 31, 2015 was $0.7 million or $0.007 per share, basic and diluted.
- As at August 31, 2016, UBS held cash and short-term investments totaling $200, compared to cash of $341 as at August 31, 2015.
For further information on the financial results of UBS, please review the UBS audited consolidated financial statements and management’s discussion and analysis of financial condition and results of operations for the years ended August 31, 2016 and 2015, available on www.sedar.com.
About Unique Broadband Systems, Inc.
UBS’ shares are listed on the NEX under the symbol “UBS.H”. More information on UBS can be found at www.sedar.com.
The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of UBS that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by UBS at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by UBS that actual results achieved will be the same in whole or in part as those forecast.
Neither the NEX nor its Regulation Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.
For additional information, please contact:
Daniel S. Marks
Interim Chief Executive Officer