Kelowna, B.C. – TheNewswire - October 15, 2024 – Total Telcom Inc. (TSX.V: TTZ) (OTC Pink: TTLTF) (“Total Telcom” or the “Company”), a leading developer and provider of remote asset monitoring, tracking, control and communication solutions, announces its financial results for the quarter and fiscal year ended June 30, 2024. The financial statements and related Management's Discussion and Analysis ("MD&A") can be viewed on SEDAR+ at www.sedarplus.ca

Fourth Quarter & Fiscal 2024 Highlights

• Revenue for the fiscal year was $1,970,951, compared to $2,392,686 for the fiscal year ended June 30, 2023. Revenue for the fourth quarter of fiscal year 2024 was $489,415, compared to $714,367 in the same quarter of the previous year. 

• Hardware revenue for the fiscal year was $689,624, compared to $1,230,642 for the fiscal year ended June 30, 2023. Hardware revenue in the fourth quarter of fiscal year 2024 was $163,702, compared to $456,241 in the same quarter of the previous year. 

• Communication or recurring revenue for the fiscal year was $679,623, compared to $647,352 for the fiscal year ended June 30, 2023. Communication or recurring revenue for the fourth quarter of fiscal year 2024 was $179,970, compared to $189,895 in the same quarter of the previous year. 

• Gross profit for the fiscal year was $1,178,925, compared to $1,480,665 for the fiscal year ended June 30, 2023. Gross profit for the fourth quarter of fiscal year 2024 was $287,478, compared to $509,110 in the same quarter of the previous year. 

• Net income for the fiscal year was $291,531, compared to $583,024 for the fiscal year ended June 30, 2023. Net income for the fourth quarter of fiscal year 2024 was $114,195, compared to $252,068 in the same quarter of the previous year. 

• Cash, cash equivalents, and term deposits as at June 30, 2024, was $2,791,114, compared to cash, cash equivalents, and term deposits of $2,404,179 at June 30, 2023. 

Neil Magrath, CEO of Total Telcom commented, “Fiscal 2024 presented challenges as the RV industry experienced a notable decline in demand, impacting our RV product sales. Despite lower sales in RV hardware, we maintained a solid financial footing with a strong cash position and increased interest income partially offsetting the reduced operational income. Throughout the year, we strategically invested in innovation, expanding our product offerings and upgrading our RacingTraX equipment, which positions us for future growth. As we enter the new fiscal year, we remain focused on strengthening our relationships with key customers, distributors, and partners to drive continued growth and success.”

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About Total Telcom

Total Telcom, through its wholly owned subsidiary ROM Communications Inc. (ROM) is a leading developer and provider of remote asset monitoring, tracking, control, and communication products and services.

Total Telcom has a client first history and is known throughout the industry for its innovative advanced technology solutions. The Company is uniquely positioned to deliver solutions that enable its customers and clients to cost-effectively oversee, remotely monitor, track, control and communicate with their fixed and mobile assets.

These modules are wireless modems that utilize microcomputers integrated with sensors, GPS engines, WiFi, RFID and various inputs and outputs. User interface requires NO special APPs or equipment as configuration is facilitated through a wireless WiFi connection to any smartphone, tablet, laptop, or datalogging firmware by the user through the Internet. ROM is an authorized airtime reseller and hardware developer for satellite, cellular and wireless IP Networks.

Total Telcom offers its customers a suite of products and solutions that are based on proprietary hardware and software.  The Company’s business model allows it to generate multiple revenue streams through the sale of both hardware (products) and recurring monthly service fees (monitoring, tracking, control, and data management). For additional information on Total Telcom, visit www.totaltelcom.com

Contact Information

Neil Magrath, CEO

neil@totaltelcom.com

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