Vancouver, B.C., Canada – August 21, 2020 – Legend Power® Systems Inc. (TSX.V: LPS) (“Legend Power” or the “Company”), a global leader in commercial electrical system solutions, today announced it will release its Q3 2020 financial results for the nine months ended June 30, 2020, on Thursday, August 27, 2020 after the close. The Company has scheduled a conference call to provide a business update and discuss its Q3 2020 financial results for Thursday, August 27, 2020 at 4:15PM ET (1:15PM PT). The call will be hosted by Legend Power’s President & Chief Executive Officer, Randy Buchamer and Chief Financial Officer, Steve Vanry. CONFERENCE CALL DETAILS: DATE: Thursday, August 27, 2020 Please pre‐register in advance of the call. Once you register, you will receive a confirmation which will have the dial in number and both the Direct Event Passcode and your unique Registrant ID to join the call. CONFERENCE ID: 8989912 About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This press release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results to not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law. The post Legend Power® Schedules Q3 2020 Financial Results Release and Conference Call appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2YlMkEy
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Vancouver, B.C., Canada – August 20, 2020 – Legend Power® Systems (TSX-V: LPS) a global leader in commercial electrical system solutions, today announced an existing customer has chosen to evaluate 8 additional of its buildings as candidates for SmartGATE. As an early adopter of SmartGATE, this leading commercial property management firm has a $60 billion global portfolio containing 100 million square feet in over 400 buildings in office, retail, residential, industrial and hospitality verticals. “Insights to the high impact electrical power has on financial performance and tenant safety and satisfaction, start with information provided by SmartGATE Insights. This engagement will assist our customer’s executive team in making key decisions benefitting both individual buildings and the entire portfolio”, said Mark Petersen, Legend’s VP Engineering. “Armed with detailed information, we work closely with customers to choose and implement tailored SmartGATE solutions which specifically address areas of safety, satisfaction as well as revenue enhancement and expense curtailment.” SmartGATE is an industry-leading, turnkey solution which identifies and fixes underperformance and waste in the electrical system of commercial buildings. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction and financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the firm including damaged tenant experience. About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements The post Global Property Manager Deepens Legend Power® Partnership to Drive Results appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/3aFB1Mt Vancouver, B.C., Canada – August 11, 2020 – Legend Power® Systems (TSX-V: LPS) a global leader in commercial electrical system solutions, today announced that an existing major Ontario-based multi-family and commercial property customer has invested in enabling the 14th building of its portfolio with SmartGATE. The customer owns and manages a $10+ billion portfolio of North American multi-family properties including 400 buildings with over 40,000 units. ”We are pleased that SmartGATE is one of the first “go to” electrical system improvements this customer makes to newly acquired portfolio assets,” said Legend CEO, Randy Buchamer. “Enabling our customers to unlock building data, transform it into usable, actionable insights and then implement SmartGATE’s corrective solutions, offers incredibly powerful results.” SmartGATE is an industry-leading, turnkey solution which identifies and fixes underperformance and waste in the electrical system of commercial buildings. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction and financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the firm including damaged tenant experience. About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements The post Leading North American Property Manager Ups Investment in SmartGATE™ Solutions appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2Fe2Wrb Vancouver, B.C., Canada – July 30, 2020 – Legend Power® Systems (TSX-V: LPS), today announced that a second Boston commercial property owner has taken the initial step to deploy Legend’s SmartGATE solution. The client, a leading international financial services and insurance firm, will utilize the data analysis and executive decision-making tool, SmartGATE Insights, in 4 of its buildings. Insights’ real-time data will drive informed business decisions to increase revenue, reduce costs, enhance tenant experiences, and increase net asset value. “The SmartGATE solution optimizes energy efficiency and reduces greenhouse gases and significantly mitigates the detrimental effects of poor electrical power quality to critical systems, resulting in optimal business results,” said Legend VP Engineering, Mark Petersen. “Executives need accurate and timely information to make important business decisions and SmartGATE provides that information and the appropriate solutions to improve their businesses. Legend continues to evolve our platform from being solely an energy savings offering, to being a critical power analytics and solutions provider.” SmartGATE Platform – Real-time Insights to Enhance Building Operations and Reduce Cost The first step in implementing the SmartGATE platform across a portfolio of buildings is SmartGATE Insights, which provides the real-time data and diagnostic information to assist senior leadership in determining portfolio inefficiencies. SmartGATE Insights captures thousands of electricity data points which impact efficiency, reliability and life expectancy of systems. Legend then distills the data into intuitive business impacts in its user-friendly Power Impact Report. While based on detailed data and industry-standard power quality measurements, the report also highlights business metrics so key decision-makers can understand the value in correcting these issues to maximize business performance and asset value. From the initial deployment of SmartGATE Insights through to full deployment of the SmartGATE platform, building owners are continuously supplied with data and analysis that can drive solutions that enhance tenant experience and safety, increase revenue, reduce costs, and increase net asset value. About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements The post Second Boston Customer Initiates SmartGATE™ Deployment appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2DgnUoq Legend Power Systems Selected as Feature Presenter for New York State Energy Authority Gathering7/20/2020 Vancouver, B.C., Canada – July 20, 2020 – Legend Power® Systems (TSX-V: LPS) has been selected by the New York State Energy Research and Development Authority (NYSERDA) to present at its July 23rd, Multifamily Building Solutions Network Provider webinar. The webinar is attended by approved members responsible for delivering energy assessments and energy savings incentives for multifamily building developers and owners across the State of New York. Legend’s SmartGATETM solution analyzes, confirms and then solves for electrical energy issues in any commercial building. The resulting benefits including lower operating costs, energy savings, enhanced building portfolio value, and improved tenant satisfaction make SmartGATE a perfect fit for delivering on the Multifamily Performance Program’s core mandate. “Legend’s multifamily building customer base, which includes the Company’s single largest customer, have clearly discovered SmartGATE’s benefit as a valued decision-making tool and for its ability to deliver a broad spectrum of financial benefits, including incentives”, said Mark Petersen, VP, Engineering of Legend Power. “Because these attendees are NYSERDA approved leaders, we are confident they’ll see the benefit of a turnkey solution which both analyzes and corrects electrical energy issues.” The Webinar is open to all members of the NYSERDA Multifamily Building Solutions Network and they can register at this location: https://register.gotowebinar.com/register/1673426318143461648 About NYSERDA NYSERDA works with stakeholders throughout New York including residents, business owners, developers, community leaders, local government officials, university researchers, utility representatives, investors, and entrepreneurs. NYSERDA partners with them to develop, invest, and foster the conditions that:
Capital Markets Advisory Contract Extension About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements The post Legend Power® Systems Selected as Feature Presenter for New York State Energy Authority Gathering appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2WEXvHz Vancouver, B.C., Canada – July 9, 2020 – Legend Power® Systems (TSX-V: LPS) announces that another major Real Estate Investment Trust (“REIT”) will leverage Legend’s proven technology to aid in proactive executive decision-making supported by timely and accurate information. By selecting SmartGATE InsightsTM, Legend’s customer will uncover previously undiagnosed underperformance in the electrical systems of its commercial buildings. These performance issues often lead to higher operating costs, lower net operating income and other potential financial risks to the firm including damaged tenant experience. Left undiagnosed, electrical energy challenges are known to negatively impact the overall financial health of commercial building portfolios. Insights gained provide the basis for collaboration with customers to implement solutions that most effectively address their priority needs and concerns. “With today’s complex and volatile electrical energy environment, executive leaders deal with more uncertainty than ever before. The business impacts however, are entirely manageable utilizing information derived from connected and emerging technology solutions like SmartGATE InsightsTM and SmartGATETM which can significantly impact corporate performance and asset management,” said CEO Randy Buchamer. “With increased compliance concerns, growing ESG expectations and general business performance challenges, our customers and prospects are clear that they need a tool that enables proactive and accurate decision-making.” Buchamer added, “With the continued acceptance of Legend solutions by major organizations to address their electrical energy challenges, we are optimistic about Legend’s growth prospects in North America.” The major North American multi-family REIT is working with, and strategically deploying, Legend solutions to identify opportunities to increase the value of their $2 billion+ CRE portfolio. With a successful track record of developing, redeveloping, acquiring, and managing distinctive apartment homes in some of the best markets in the US, the REIT owns or holds 296 apartment communities containing 86,596 apartment homes in 11 states. The REIT has selected from its portfolio, three multi-family buildings located in the city of Boston for evaluation. With Boston’s high utility rates and significant local ESG compliance requirements, the REIT deemed the Boston-based properties to be ideal initial locations to better understand the financial implications of electrical energy impacts across their extensive CRE portfolio. About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements The post Legend Power® Systems Selected by Multi-Family REIT in Boston to Evaluate Business Impact of Electrical Energy Supply appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2O5zDbo Vancouver, B.C., Canada – Legend Power® Systems (TSX-V: LPS), a global leader in onsite energy management technology, announced today that it has completed another SmartGATE installation in its key New York City market. Legend installed the unit at a major, multi-family site in Manhattan for a leading, privately held commercial real-estate company. “Post the pandemic shutdown, Legend Power is seeing a resurgence in installation and sales activity, especially in our multi-family residential vertical,” said Legend Power Systems CEO Randy Buchamer. “This client is a leader in the U.S. and manages and owns more than 400 buildings across the U.S. with a significant footprint in the New York region. Feedback so far has been positive with initial measured results achieving 102% of expectations. We’re optimistic about future opportunities with this client.” Legend’s SmartGATE installation in the client’s property is part of an upgrade process bringing the building into energy compliance with New York local law number 97, which mandates building operators to achieve certain reductions in greenhouse gas emissions by 2050. With LL’97 being typical of the stringent emissions laws in the country, SmartGATE brings the advantage of not only enhancing electrical efficiency (and thus emissions reductions), but also improving the overall health of every electrical system and core components attached to it. This means key elements like elevators, HVAC and security controls are more reliable, enhancing tenant experience, and overall customer brand. About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements The post SmartGATE™ Installation Completed in New York at a Major MultiFamily Site in Manhattan appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2Bpghv1 Vancouver, B.C., Canada – June 25, 2020 – Legend Power® Systems (TSX-V: LPS), announced today that it reached a milestone with the installation of the three hundredth SmartGATE platform. Since its launch, the Company has been a leading innovator in the provision of intelligent, electrical power management platforms that optimize both operational and financial performance in commercial buildings. Highlights of the collective benefits that 300 SmartGATE’s have delivered to customers, and the environment include: Total Systems Installed ─ 304 Having successfully reached three hundred installations in multiple geographic regions has proven the wide acceptance of SmartGATE’s value proposition, but is really only the beginning in terms of penetrating what is conservatively estimated to be a multi-billion-dollar potential North American market. Key to SmartGATE’s success is its versatility to deliver benefits across multiple types of commercial buildings, which include:
Legend’s customers include building owners in Canada and the US, including multi-residential buildings, commercial office towers, hotels, large retail stores, schools, colleges, universities, hospitals, non-profit housing developments, and airports. In addition, Legend’s SmartGATE has “While it’s a milestone for Legend and our team, we really owe our gratitude to our customers who have supported us from the beginning,” said CEO Randy Buchamer. “Whether it was regional utilities who helped us prove the technology early on or visionary early adopters in the Ontario education system, at major Canadian retailers or name brand multi-residential property owners, they all had a role in getting us where we are today. Given that the median number of units per customer is six, the technology is clearly illustrating its value to these early adopters. After a brief slowdown during March, April and May of 2020 we are seeing a return to normal and we anticipate installations of both Insights and SmartGATE to pick up materially in the coming quarters.” SmartGATE is continuing to evolve with SmartGATE Insights metering and analytics now available as a portable diagnostic service to scope building priorities before installation and continuing to supply detailed power analytics on an ongoing basis post-installation. Per customer requests, Legend is working on finalizing significant enhancements to SmartGATE’s overall capabilities. SmartGATE 2.0 will deliver additional electrical savings, more detailed power quality data and improved ease of installation. About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements The post Legend Power® Systems Installs 300<sup>th</sup> SmartGATE™ appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2CGVcN9 Legend Power Reports Q2 Fiscal 2020 Financial Results Outlook for Balance of Year Already Improving5/28/2020 Vancouver, B.C., Canada – May 28, 2020 – Legend Power® Systems Inc. (TSX.V: LPS) (“Legend Power” or the “Company”), a global leader in onsite energy management technology, today reported its Q2 fiscal 2020 financial results for the six months ended March 31, 2020. A conference call to discuss the results is set for 4:15pm EST today (dial in details below). A complete set of Financial Statements and Management’s Discussion & Analysis has been filed at www.sedar.com. All dollar figures are quoted in Canadian dollars. Financial Highlights for the three months ending March 31, 2020
Working Capital Update to May 28, 2020
Objectives through fiscal year-end (September 30)
Management Commentary Financial summary for the three and six months ended March 31, 2020 and 2019
1 Gross margin is based on a blend of both equipment and installation revenue. Revenue for the second quarter of 2020 was $676,359, a 12% decrease from $769,443 in the same quarter of 2019. Revenue for the six months ended March 31, 2020 was $1,679,688 a 43% increase from $1,172,843 in the same period 2019. Gross margin in the second quarter of fiscal 2020 was 32%, a decrease from 54% in second quarter of fiscal 2019. Gross margin in the first half of fiscal 2020 was 26%, a decrease from 63% over the first half of 2019. The lower gross margins experienced in the first half of 2020 was due primarily to:
Adjusted EBITDA for the second quarter of fiscal 2020 was negative $1,467,805, compared with negative $1,285,984 in the second quarter of fiscal 2019. Adjusted EBITDA for the first half of fiscal 2020 decreased to negative $2,792,966, from negative $2,334,336 in the first half of fiscal 2019. Net loss for the second quarter of fiscal 2020 was $1,516,627, compared with a net loss of $1,402,451 in the second quarter of fiscal 2019. Net loss for the first six months of 2020 was $2,998,825, an increase of 20% from a loss of $2,493,783 in the same period of 2019. Lower gross margins were the prime contributor to the increase in net loss compared with the same six-month period in fiscal 2019. The Company’s operating expenses for the second quarter of 2020 were $1,736,091, down from $1,845,557 in the same quarter of 2019 and for the first six months of fiscal 2020 were $3,356,522 compared with $3,330,400 in the same six months of 2019. CONFERENCE CALL DETAILS: DATE: Thursday, May 28, 2020 About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements The post Legend Power® Reports Q2 Fiscal 2020 Financial Results Outlook for Balance of Year Already Improving appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2XIxMhj Vancouver, B.C., Canada – May 22, 2020 ‐ Legend Power® Systems Inc. (TSX.V: LPS) (“Legend Power” or the “Company”), a global leader in onsite energy management technology, today announced it will release its Q2 2020 financial results for the six months ended March 31, 2020, on Thursday, May 28, 2020 after the close. The Company has scheduled a conference call to provide a business update and discuss its Q2 2020 financial results for Thursday, May 28, 2020 at 4:15PM ET (1:15PM PT). The call will be hosted by Randy Buchamer, President & Chief Executive Officer and Steve Vanry, Chief Financial Officer. CONFERENCE CALL DETAILS: DATE: Thursday, May 28, 2020 About Legend Power® Systems Inc. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This Press Release may contain statements which constitute “forward‐looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward‐looking statements. Investors are cautioned that any such forward‐looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward‐looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results to not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward‐looking statements other than as may be required by applicable law. The post Legend Power® Schedules Q2 2020 Financial Results Release and Conference Call appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2ZzKH7s |
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