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VANCOUVER, British Columbia, Aug. 08, 2022 (GLOBE NEWSWIRE) — RSI International Systems Inc. (NEX: RSY.H) (the “Company” or “RSI”) and ARCpoint Group LLC (“ARCpoint”) are pleased to announce that TSX Venture Exchange (the “Exchange”) has conditionally approved the previously announced proposed reverse takeover of the Company by the securityholders of ARCpoint (the “Transaction”). In addition, the Company and ARCpoint provide the following update in connection with the Transaction:
Selected Financial Information of ARCpoint
ARCpoint’s auditors have completed the audit of its annual financial statements for the financial years ended December 31, 2020 and 2021 (the “Audited Annual Financial Statements”) and the review of its interim financial statements for the three-month interim period ended March 31, 2022 (the “Reviewed Q1 Financial Statements”). The following selected financial summary has been prepared from the Audited Annual Financial Statements and the Reviewed Q1 Financial Statements of ARCpoint:
| Selected Financial Information | For the three months ended March 31, 2022 |
Financial Year Ended Dec 31, 2021 (audited) |
Financial Year Ended December 31, 2020 (audited) |
| IncomeStatementData | |||
| Total Revenues | 5,592,692 | 19,152,754 | 12,678,915 |
| Income (Loss) From Operations | 1,412,640 | 5,656,187 | 6,118,212 |
| Total Comprehensive Income (Loss) | 683,792 | 5,716,649 | 6,006,760 |
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