Mississauga, ON (May 30, 2019) – Pioneering Technology Corp. (TSXV: PTE), (“Pioneering” or the “Company”),
a technology company and North America’s leader in cooking fire prevention technology and products reports
today its unaudited financial results for the second quarter and the six-months ended March 31, 2019.
Pioneering’s unaudited condensed interim financial statements and MD&A are available on SEDAR
• Revenue in Q2 was down 33% vs. previous year and is down 30% year to date vs. same period year ago.
• Net loss in Q2 was ($470,902) vs. ($681,587) during the same quarter year ago
• Adjusted EBITDA was ($370,240) versus ($613,126) in Q2 2018
• Gross margins increased to 58% and 57% respectively.
• The Company experienced a loss of $0.01 during the quarter.
• Balance sheet remains strong