Dalrada Files 10-K and Audited Financials

HENDERSON, Nev., Jan. 31, 2020 /PRNewswire/ -- Dalrada Financial Corp. DFCO announced today that it has filed its annual report on Form 10-K, including its audited consolidated financial statements for years ended June 30, 2019 and June 30, 2018.  The company reported a net income of $365,850 for Fiscal 2019 compared to a net loss of $1,037,221 for Fiscal 2018, as a result of reducing its tax liabilities by $2,264,340.

With the company now focused more than ever on ensuring long-term success, Brian Bonar, Dalrada's Chief Executive Officer, is confident in the direction the organization is ready to take. "The completion of our annual financial and business performance filing including our audited financials is a critical step for our company. It allows us to share our status, future direction, and be even more dedicated to growing our business offerings," he said.

Bonar added, "I want to thank our investors, shareholders, customers, and our expanding team for their patience during this process. We are confident that our business model as well as our industry-leading science, engineering, and technology solutions are poised to deliver lasting value to our shareholders."

Dalrada has taken great strides in recent months to set a future course of delivering on its innovation-centric promise of making a true global impact. "We have focused on gathering the right pieces to support our low carbon, clean energy machines and creating healthcare solutions with a technology-driven global business model to drive immediate growth and profitability," said Bonar. "While we have significant work ahead of us, we are looking forward to the opportunities and continuing to progress," he concluded.

The company is now focused on completing filings for its quarterly reports on Form 10-Q for quarters ended September 30 and December 31, 2019. 

About Dalrada Financial

Dalrada Financial Corp. DFCO solves real-world problems by producing innovation-focused and technologically-centered solutions on a global level. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, please visit www.dalrada.com or call 1-858-283-1253.

Disclaimer

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.

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SOURCE Dalrada Financial Corp.