PetLynx Directors Approve Positive Financials and Set AGM

The Board of Directors of PetLynx Corporation approved the Audited Financial Statements for the year ended 31 December 2011, at their meeting earlier this week.  

The statements show positive results as compared to Fiscal 2010:  

• Revenues increased by 32.8%;
• Gross margin increased by 2.35%; and, 
• Net losses decreased by 35.8%.

However the most exciting achievement is $64,959 of positive cash from operations, a first in the history of the PetLynx development.

The Board also set the annual general meeting of the shareholders of PetLynx Corporation for 1000hrs, on Tuesday, 19 June 2012. The Financial Statements, Information Circular and Proxy Forms will be mailed to shareholders on or about 28 May 2012.

PetLynx announced the Petsecure/Walmart program featuring a PetLynx Lifetime Recovery Subscription moved into retail operations today.

PetLynx has also secured a portion of the $300K bridge which was offered to existing shareholders.  This one year secured investment provides an interest rate of 12% and a very attractive conversion option into common shares.  

Contact Cindy Kreutzer 403.219.1088 for more information.