Voxtur Analytics Corp. (TSXV : VXTR ; OTCQB :ILATF) (“Voxtur” or “the Company”) today announced that its Audited Consolidated Financial Statements for the year ended December 31, 2020 and the related Management’s Discussion and Analysis (“MD&A”) are available at www.sedar.com and on the Company’s website at voxtur.com.
In a year of unprecedented challenges resulting from the Covid-19 pandemic, Voxtur persevered to lay a strategic foundation for the future growth and success of the Company. The Company’s 2020 milestones include the completion of an oversubscribed private placement, a substantial increase in credit resources with the Bank of Montreal’s Technology & Innovation Banking Group, the acquisition of Apex Software, and the execution of a binding letter of intent to acquire all of the shares of Voxtur Technologies, Inc. and Bright Line Title, LLC and certain non-legal assets of James E. Albertelli P.A., which closed February 3, 2021.
“The entire organization showed determination, perseverance and emotional fortitude as we all coped with the challenges presented by the global pandemic,” said CEO and Chairman Gary Yeoman, “The future of Voxtur is strong due to the foundational building blocks and innovative technology platforms we’ve put into place.”
1Adjusted EBITDA is an unaudited non-GAAP measure and does not have any standardized meaning prescribed under IFRS and, therefore, may not be comparable to similar measures employed by other reporting issuers. Management believes Adjusted EBITDA provides meaningful information with respect to the financial performance and value of the Company, as items that may obscure the underlying trends in the business performance are excluded. Adjusted EBITDA is defined and calculated by the Company as earnings (loss) before interest, taxes, depreciation/amortization of property and equipment, intangible assets and right-of-use assets, share-based compensation expense, foreign exchange gains (losses) recorded through profit and loss, and other costs or income that are: (i) non-operating; (ii) non-recurring; and/or (iii) related to strategic initiatives. The Company classifies income or costs as non-recurring if income or costs similar in nature are not reasonably expected to occur within the next two years nor have occurred during the prior two years, and such costs are significant.