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Israeli Technology Company BYND Cannasoft Enterprises Inc. Announces Financial Results For The Year Ended December 31, 2023 By Investing.com

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Vancouver, BC, Apr 3, 2024 – (NewMediaWire) – – BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (“BYND” or the “Company”), has released its financial results for year ended December 31, 2023. Full versions of BYND’s audited consolidated financial statements and management discussion and analysis for the period, can be found on www.sedarplus.ca

2023 Year-End Financial Highlights:

  • Revenue decreased 4% to $1,076,861 for the year ended December 31, 2023 from $1,123,072 for the same period in 2022.
  • Gross Profit decreased to 37% for the year ended December 31, 2023 from 55% for the same period in 2022.
  • Net loss increased 1,011% to $18,495,121 for the year ended December 31, 2023 from $1,664,684 for the same period in 2022.
  • Working capital decreased to 2,441,703 for December 31, 2023 from $2,987,975 for December 31,2022.
  • Total assets decreased to $36,801,368 for December 31, 2023 from $49,903,208 for December 31,2022.
  • Total shares outstanding as of December 31, 2023 were 42,553,166 (223,964 post reverse split).

Mr. Yftah Ben Yaackov, BYND’s CEO noted that “Despite the fact that the company went through a difficult year, starting with changes in the core areas of its activities in Israel and ending with the difficult war in Gaza, we were able to raise significant funds that will allow us to further develop the strategic change we are working on, the goal of which is penetration into the global FemTech market through the EZ-G device that will be launched this year to the public and through other devices in the field of wellness based on our technology-based patent pending smart delivery system. We believe that we have the knowledge and technology required to bring to the market high-quality products that will make a significant difference.”

About BYND Cannasoft Enterprises Inc.

BYND Cannasoft Enterprises is an Israeli-based integrated software and cannabis company. BYND Cannasoft owns and markets “Benefit CRM,” a proprietary customer relationship management (CRM) software product enabling small and medium-sized businesses to optimize their day-to-day business activities such as sales management, personnel management, marketing, call center activities, and asset management. Building on our 20 years of experience in CRM software, BYND Cannasoft is developing an innovative new CRM platform to serve the needs of the medical cannabis industry by making it a more organized, accessible, and price-transparent market. The Cannabis CRM System will include a Job Management…

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