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VANCOUVER, Nov. 21, 2012 /CNW/ - Fireswirl Technologies Inc. (TSXV: FSW), "the Company", today announced its financial results for the third quarter ended September 30, 2012. All figures are quoted in Canadian dollars. Financial statements and accompanying MD&A are available on SEDAR.
Financial Highlights for the quarter:
Marketing Highlights for the quarter:
"I am pleased to report that our operating loss in the first nine-months of the fiscal year decreased to $213,085 from$780,556 in the same period last year, representing a decrease of 73%. This represents a significant achievement to our management team as it shows that our strategic course of rapidly growing our service-oriented revenue alongside with our gradual realization of economies of scale is taking effect," stated Tony Lau, CEO. "We are also gaining momentum with our strong pipeline of brand clients who want to launch their e-commerce business in China," said Lau.
"The management team is committed to the company's aggressive, but long-term growth strategy by working with well-known and proven international brands in expanding the online sales pipeline of their products into the lucrativeChina market. With its scalable e-commerce service model and a fast growing list of reputable international brand clients and partners, the Company is well positioned to capitalize on the rapid expansion in the Chinese e-commerce sector," concludes Lau.
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