TUGA Innovations, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended January 31, 2023
March 31, 2023 at 09:22 pm IST
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TUGA Innovations, Inc. reported earnings results for the second quarter and six months ended January 31, 2023. For the second quarter, the company reported net loss was CAD 0.514295 million compared to CAD 1.39 million a year ago. Basic loss per share from continuing operations was CAD 0.01 compared to CAD 0.04 a year ago.
For the six months, net loss was CAD 1.14 million compared to CAD 1.87 million a year ago. Basic loss per share from continuing operations was CAD 0.03 compared to CAD 0.05 a year ago.
TUGA Innovations, Inc. is a Canada-based development-stage electric vehicle company. The Company is involved in the conception, design, and production of specialized electric vehicles (EVs). The Companyâs principal business activity is to reduce urban mobility difficulties by developing a three- wheeled, fully electric fore-and-aft two seat vehicles. From automotive design and production, architecture, marketing, virtual and augmented reality creation, through high-tech business development, the Company is focused on providing a suite of products and services. The Companyâs TUGA vehicle is being designed to deliver an estimated 160 kilometers (km) range, have an estimated top speed of 140 km/hour with the comforts of a car, and with more protection than a motorcycle in an interchangeable multi-body, multi-function platform. Its digital integration specifications include network, sensors, wireless and location, media and audio, camera, display, and storage.