Bee Vectoring Technologies International Inc. free an update letter to shareholder from Chief Executive Officer Ashish Malik on 31 Janaury 2022 announcing fiscal results for the quaternary one-quarter and fiscal yr which ended September 30 , 2021 .
There is now proven market demand for BVT ’s natural preciseness agriculture system , which let in our bee delivery systems and biological command broker , CR-7 . We have a raise bag of client in multiple regions of the US , and momentum in Europe and South America from partners who are interested in licensing BVT ’s engineering science for economic consumption in these markets .
Some of 2021 ’s accomplishments include :
47 % growth in revenue in the US on a perpetual currency basis . 100 % memory of customers in the fundamental blueberry bush marketplace of Georgia . First revenues in Michigan , New Jersey and the Pacific Northwest .
First commercial activity in California . fresh territory manager in blank space and first successful tryout ( almonds , berry ) underway following regulative approval .
CBC Biogard concede BVT use of its proven biological insect powder through BVT ’s bee vectoring organisation . This is our first course to taxation in the EU and formalize the business as a political platform , not a single - product system .
Memorandum of Understanding with BioSafe to research pairing BioSafe biologicals with BVT ’s bee delivery system and using CR-7 for lotion outside of bee - vectoring .
Regulatory approval progress in multiple global mart include the European Union , Mexico , Canada , and Peru , which will be the foothold for our South American expansion .
Successful test of CR-7 for seed treatment of soybeans , a 300 - million - acre planetary crop .
BVT is now a successful commercial operation in its tenth yr , with a $ 20 M investment .
Financial HighlightsRevenue of $ 400,000 which represent a twelvemonth - on - year growth of +47 % using constant currentness ( US$ /CAD$ ) exchange rates for FY2021 and FY2020 . As describe , tax income increment is +38 % since the CAD strengthened in 2021 as compare to 2020 .
Gross tolerance ameliorate from 39 % in FY2020 to 42 % in FY2021 . This advance was driven by down price of production of BVT ’s Clonostachys rosea strain BVT CR-7 and the insertion of the higher margin Apis mellifera solution .
immediate payment on hired hand of $ 2.7 million .
The Company continues to centre on operational efficiency and John Cash management as manifest by a step-down of Johnny Cash used by operations from $ 3.67 million in FY2020 to $ 2.85 million in FY2021.Growth Acceleration Plan
Our scheme for geographic and portfolio enlargement includes :
speed sales in the US with an expanded sales agreement squad and strategic marketing to prove awareness and generate lede .
replicate market penetration succeeder and know - how built from the US in new geographies .
expand sale of our patented bee vectoring systems to direct new crop pestilence , disease and yield challenges by let in existing and sanction products from third party into our portfolio .
For more information : Ashish MalikBee Vectoring Technologies International Inc. Email:[email protected]www.beevt.com
