TAAT GLOBAL ALTERNATIVES INC. (OTCQX:TOBAF) (CSE:TAAT) (FRANKFURT: 2TP) fiscal year 2022 revenue was $42.5 million, an increase of 1561% compared to $2.6 million in fiscal year 2021.
TAAT Fiscal Year 2022 Highlights
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Gross profit was 3.7 million compared to $905,361 in 2021.
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Gross margin was 8.8% compared to 35.4% in 2021.
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Net loss was $24.6 million compared to net loss of $33.4 million in 2021.
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Cash at the end of the year was $676,813 compared to $11.8 million in 2021.
TAAT CEO Michael Saxon stated, "Fiscal 2022 was a pivotal year for the company, and our financial results reflect that with a significant increase in revenue. The combination of our branded products (TAAT and Jayvees) along with our distribution subsidiary (ADCO Distributors, Inc.), provides us with more diverse revenue streams so that we can further invest in the company's businesses. On behalf of the management team, we thank shareholders for their continued support, and we are excited to further discuss these results during our annual general meeting on Monday."
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