Everybody Loves Languages Reports Financial Results for the First Quarter Ended March 31, 2025
TORONTO — Everybody Loves Languages Corp. (' ELL ') (TSX-V: ELL; OTC: LMDCF; FSE: LIMA), www.everybodyloveslanguages.com, an edtech language learning edutainment and content development company, announces its financial results for the first quarter ended March 31, 2025. All figures are reported in Canadian Dollars and are in accordance with International Financial Reporting Standards unless otherwise noted.
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Q1 2025 Financial Highlights
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First Quarter Ended March 31 st
2025
2024
Revenue
$
362,953
$
149,977
Operating and development expenses
521,276
492,225
Loss before amortization, share-based payments, depreciation, finance charges and taxes
(158,323)
(436,754)
Amortization, share – based payments, and depreciation
10,163
14,408
Finance charges, taxes and foreign exchange
2,948
(56,195)
Net loss
(171,434)
(300,461)
Loss for the period attributable to:
Non-controlling interest
(7,010)
(6,981)
Shareholders of Everybody Loves Languages Corp.
(164,424)
(293,480)
Total comprehensive income
(170,506)
(312,327)
Total comprehensive loss for the period attributable to:
Non-controlling interest
(7,010)
(6,981)
Shareholders of Everybody Loves Languages Corp.
(163,496)
(305,346)
Earnings per share (basic)
$
(0.00)
$
(0.01)
Earnings per share (fully diluted)
$
(0.00)
$
(0.01)
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Revenue for the first quarter ended March 31, 2025 totalled $362,953 as compared to $149,977 in Q1 2024.
Operating and development expenses for the quarter ended March 31, 2025, totalled $521,276 compared to $492,225 in Q1 2024.
Net loss for the quarter ended March 31, 2025, totalled $(171,434) or $(0.00) loss per share (basic) based on 35.6 million shares or $(0.00) loss per share (diluted) based on $36.1 million shares as compared to a net loss of $(300,461) for 2024 or $(0.01) loss per share (basic and fully diluted).
Loss before amortization, share-based payments, depreciation, finance charges and taxes was $(158,323) compared to $(436,754) in 2024.
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'Everybody Loves Languages has introduced several important new features, most notably an AI-based tutor named AVI. We remain committed to enhancing our platform and are optimistic about a positive response from the market,' said Gali Bar-Ziv, President & CEO of Everybody Loves Languages.
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The interim condensed financial statements for the quarter ended March 31, 2025, and Management Discussion & Analysis are available at www.sedarplus.ca
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About Everybody Loves Languages Corp. (TSX-V: ELL; OTC: LMDCF; FSE: LIMA):
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Everybody Loves Languages Corp. is an edtech language-learning and content development company empowering language educators to easily transition from traditional teaching methods to digital learning by integrating education, edutainment, and technology.
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The company provides online and print-based solutions through two distinct business units: Everybody Loves Languages Inc. and Lingo Learning Inc. Everybody Loves Languages is a state-of-the-art technology platform that delivers personalized learning experiences in classrooms and online. Its programs provide innovative SaaS-based eLearning solutions, including online and offline content, a learning management system, assessments, real-time reports, speech recognition technology, and white-label tools. At the same time, Lingo Learning is the content development arm and co-publishes print-based English language learning materials in China.
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Everybody Loves Languages has established successful relationships with key government and industry organizations internationally, with a presence in LATAM and China, and continues to expand its product offerings and extend its market reach.
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Portions of this press release may include 'forward-looking statements' within the meaning of securities laws. These statements involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. These statements are based on management's current expectations and involve certain risks and uncertainties. Actual results may vary materially from management's expectations and projections and thus readers should not place undue reliance on forward-looking statements. Everybody Loves Languages has tried to identify these forward-looking statements by using words such as 'may,' 'should,' 'expect,' 'hope,' 'anticipate,' 'believe,' 'intend,' 'plan,' 'estimate' and similar expressions. Everybody Loves Languages' expectations depend upon general economic conditions, the continued and growth in demand for its products, retention of its key management and operating personnel, its need for and availability of additional capital and other uncontrollable or unknown factors. No assurance can be given that the actualresults will follow the forward-looking statements. Except as otherwise required by securities laws, Everybody Loves Languages undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, changed circumstances or any other reason. Certain factors that can affect the Company's ability to achieve projected results are described in the Company's filings with the Canadian securities regulators available on www.sedar.com.
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Article content As of March 29, 2025 March 30, 2024 Assets Current Assets Cash and cash equivalents $ 1,509 $ 1,783 Accounts receivable and other receivables 6,608 8,455 Inventories 116,277 99,067 Prepaids and other current assets 2,072 2,913 Total current assets 126,466 112,218 Long-term receivables 1,084 1,571 Equity investment in joint venture 5,169 4,122 Property and equipment 25,380 25,717 Operating lease right-of-use asset 34,964 51,753 Intangible assets and other assets 3,017 7,887 Total non-current assets 69,614 91,050 Total assets $ 196,080 $ 203,268 Liabilities and Stockholders' Equity (Deficiency) Current liabilities Bank indebtedness $ 73,630 $ 63,372 Accounts payable 58,114 43,011 Accrued liabilities 6,053 6,112 Current portion of long-term debt 4,860 4,352 Current portion of operating lease liabilities 6,929 6,430 Total current liabilities 149,586 123,277 Long-term debt 21,374 22,587 Long-term portion of operating lease liabilities 38,629 59,881 Other long-term liabilities 4,502 2,672 Total long-term liabilities 64,505 85,140 Stockholders' equity (deficiency): Class A common stock – no par value, unlimited shares authorized, issued and outstanding 11,876,717 (11,447,999 as of March 30, 2024) 42,854 40,725 Class B common stock – no par value, unlimited shares authorized, issued and outstanding 7,717,970 57,755 57,755 Preferred stock – no par value, unlimited shares authorized, none issued — — Additional paid-in capital 19,719 21,825 Accumulated deficit (138,295 ) (125,476 ) Accumulated other comprehensive income (loss) (44 ) 22 Total stockholders' equity (deficiency) (18,011 ) (5,149 ) Total liabilities and stockholders' equity (deficiency) $ 196,080 $ 203,268 Article content Article content Article content Article content Contacts Article content Company Contact: Article content Article content Katia Fontana Article content Article content Vice President and Chief Financial Officer Article content
