2022-05-23 10:18:27
Oslo, Norway May 23, 2022
The unaudited accounts for the 1st quarter 2022 have been released and are available at the company web pages.
The accounts for 1Q 2022 show a negative net profit of NOK 5.3m, compared to negative net profit of NOK 4.9m in 1Q 2021.
As part of the planned ramp up the net (of capitalized costs) payroll and other operating costs (excluding depreciation and amortization) increased to NOK 3.8m in 1Q 2022 compared to NOK 3.4m in 1Q 2021. Net capitalized development cost totaled NOK 2.5m compared to NOK 1.4m in 1Q 2021.
The Company has a comfortable cash position of NOK 33.7m and available liquidity of NOK 38.7m at the end of 1Q. Total liabilities at the end of the period equals NOK 11.8m including accrued interest and leasing obligations. During the quarter all convertible loans were redeemed and converted and as of this date the Company has no outstanding convertible loans.
The total equity is NOK 48.1m with an equity ratio of 80.3%.
For further information, please contact:
Tom Hvammen, CFO
Mail: investor@condalign.no
Phone: +47 414 79 538
CondAlign is a Norwegian technology company developing conductive films for highly efficient directional conduction of electricity, heat and industrial gases. CondAligns patented technology enables the development of new break-through consumer products as well as industrial applications.