Tinkerine Quarter 2 2020 Financial Results

TheNewswire – August 25, 2020 – Tinkerine(TM) Studios Ltd. (TSXV:TTD) (OTC:TKSTF) (“Tinkerine” or the “Company”) announces the filing of its financial statements and management discussion and analysis for the fiscal period ending June 30, 2020. These filings are available for review on SEDAR and the Corporation’s website.

Highlights

  • – MDEL facility approval from Health Canada to produce Personal Protective Equipment (“PPE”);

    – Protoplant Inc. partnership for emergency filament for PPE and composite filaments;

    – Community Partnerships with Wavefront Centre and Foodbanks Canada;

    – Approval for PPE on Safecare BC;

    – Medical PPE devices including Face Shield Pro, Face Shield Lite, Trusight- Antifog Coating and Ear Relief;

    – Origami Tube Design for portable ventilator partnership with Simon Fraser University, University of British Columbia and Vancouver General Hospital;

    – 6 applications for 3 pending tenders related to PPE submitted to government entities;

    – Submission of Tinkerine PPE to over 50 non-government entities for evaluation;

    – Products under development including Face Shield X and Facemask Clear;

    – Evaluation of metal powder 3D printing with initiative underway;

    – Production of Things 2.0 initiative progressing linked to Tinkerine Cloud software.

Chief Executive Officer Eugene Suyu states; “The pandemic presented Tinkerine with multiple opportunities and alignments for the future that we are excited about. We have seen a resurgence of interest in how Additive Manufacturing and 3D Printing technologies can bring manufacturing back to North America, not just for large companies but for all companies. What the pandemic has shown us is that resilience on supply chain and the ability to manufacture locally is critical. The case with PPE is one of social responsibility, but more importantly for the team, it is one of challenging the conversation from lowest cost to highest quality maintaining safety essentials for the user. The team at Tinkerine has an incredible focus on best in class products and services that cross between 3D printing technologies and medical devices. We believe, if done right, can pay dividends for many years to come, even post pandemic. We also thank our stakeholders for their continued interest and engagement with Tinkerine and look forward to future developments.”

Financial Highlights

Q2 2020

Q1 2020

Q2 2019

Revenue

$154,896

$40,845

$215,200

Gross Profit

$82,579

$8,338

$126,985

Expenses

$257,366

$137,468

$148,173

Net Income

($114,334)

($129,130)

($21,188)

About Tinkerine

Our mission is to provide a foundational understanding about Applied Design driven by 3D printing. Our ecosystem of 3D printing products and educational resources equips future generations with the innovative tools and products to stay ahead in a fast-paced, tech-driven world. Tinkerine enables the curious to convert creative ideas into the tangible and the unimaginable. All Tinkerine 3D printers and education services are designed and manufactured in Canada.

For further information please contact:

Dean Stuart

T: 403 617 7609

E: dean@boardmarker.net

Eugene Suyu

Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain forward-looking statements, including, but not limited to, expectations as to the acceptance of products designed and created by the Tinkerine Applied Design staff and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Copyright (c) 2020 TheNewswire – All rights reserved.

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