73,068

Amortization

37,108

196,865

Depreciation

10,941

84,831

2,304,683

1,188,387

OPERATING LOSS

($1,855,166)

($1,086,536)

OTHER INCOME (EXPENSES)

Foreign exchange gain/ (loss)

Company Financials Reveal Mixed Results

Breaking Down Interest and Gains

Gains and Losses: A Look into Settlements

Asset Management Insights

In conclusion, the latest financial data highlights significant interest expenses and various income and loss categories. Investors might want to pay close attention to these figures when considering the company’s financial health.“`html

Financial Performance Revealed: A Closer Look at Recent Earnings Reports

Significant Losses Reported

The latest financial data indicates a troubling trend for several companies. The figures show a net loss from continuing operations for one entity at ($12,992,860). This stark drop represents a significant change when compared to the previous period’s loss of ($4,216,563).

Impact of Associate Losses

In addition to the ongoing operational losses, recent reports highlighted financial setbacks due to shares of loss from an associate, amounting to (593,014) this term, compared to (2,860,412) in the past. Such fluctuations reflect the unpredictable nature of business partnerships and their effects on overall profitability.

Penalties and Settlements

A further strain on finances has stemmed from penalties and settlements, adding (68,500) to the burden. This underlines the importance of compliance to avoid such costs that can substantially impact the bottom line.

Discontinued Operations Show Mixed Results

Interestingly, net income from discontinued operations has brought some positive news, reflecting a gain of 12,296,195, potentially giving stakeholders a slight reason for optimism. However, another entity is facing a significant loss here, reported at (1,037,987).

Total Financial Results

Overall, a combined net loss is evident, with figures indicating ($696,665) and ($5,254,550) for respective periods. The cumulative translation adjustment also adds another layer of complexity to the financial landscape, reminding analysts and investors of the challenges that accompany global operations.

In conclusion, while there are areas of hope within the data, the overall losses and penalties present significant challenges that the companies will need to address moving forward. Stakeholders await future updates with trepidation, hopeful for recovery amidst these hurdles.

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Argo Corporation Reports Challenging Financial Results for 2023

Financial Performance Overview

In the recent financial statements, Argo Corporation has reported losses reflecting the ongoing challenges in the market. For the period ended December 31, 2023, the net profit (loss) was ($871,183), which escalated to ($5,508,429) over the full year. This bleak outcome underscores the company’s need to strategize effectively for future growth.

Profit Per Share Analysis

Argo’s loss per share was detailed, showing a loss of ($0.01) for the basic and diluted shares in the final quarter, and reaching ($0.04) for the entire year. These figures indicate a significant financial burden on shareholders.

Average Shares Outstanding

The company’s weighted average shares outstanding, both basic and diluted, were recorded at 133,367,099 for the final quarter and 132,944,615 for the full year. This data reflects the adjustments that the company has made as it navigates a complex financial landscape.

Important Notes

All figures mentioned are accurate to the hundreds, and any references to “$” pertain to Canadian dollars. Readers should note that the TSX Venture Exchange and its Regulation Services Provider do not accept responsibility for the accuracy of this release.

A Closer Look at Argo

Argo aims to revolutionize public transit with the first-ever vertically integrated city transit system. Their mission focuses on enhancing public transportation through a network of smartly routed vehicles that respond to urban demand. More information can be found on their website: www.rideargo.com.

For further inquiries, feel free to contact:

Praveen Arichandran, Co-CEO
Argo Corporation
(800) 575-7051

Looking Ahead

This release contains forward-looking statements regarding Argo’s strategies and objectives. Managing expectations is crucial, as these statements often involve uncertainties and risks. Readers are advised to consult Argo’s securities filings at www.sedarplus.ca for a deeper understanding of the potential risks associated with these projections. Actual results may differ significantly, highlighting the importance of prudent risk assessment in business forecasts.

SOURCE ARGO CORPORATION

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