Forward Water Technologies Announces Fiscal Year 2024 Financial Results

Toronto, ON / ACCESSWIRE / July 26, 2024 - Forward Water Technologies Corp. (TSXV: FWTC) has released its audited financial results for the fiscal year ending March 31, 2024. All dollar amounts are in Canadian currency unless otherwise specified.

FWTC reported a revenue of $71,056, showing a 79% increase compared to $39,726 in the previous year. Total expenses decreased by 7% to $2,258,690 from $2,421,598 in 2023. Net loss for the year was $2,196,513, a 4% reduction from $2,286,526 in the previous year.

Key accomplishments include the near completion of a mobile demonstration unit for customer trials, a private placement raising $462,000, and a contract with CleanTech Lithium PLC for advisory services in Chile. Additionally, FWTC licensed intellectual property from FUJIFILM Corporation and announced several key partnerships and business combinations.