Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) announced operating and financial results for the third quarter ended April 30, 2021, substantially improving its operating results, and completing several milestones in its telecommunications segment.

Key results include:

• Total revenues for the quarter were $611,237 a 20.12% increase from the quarter ended January 31, 2021, and a 57.17% increase over the quarter ended April 30, 2020, the same period in the prior year. The increase was due to very strong performance in the OTT (“Over the Top”) market segment which includes its SMS messaging practice, wholesale voice as well as the hosting business.

• EBITDA (non-GAAP) for the quarter increased to $15,620. EBITDA loss was $30,325 for the quarter ended January 31, 2021, and a loss of $53,435 for the period ended April 30, 2020.

• Construction of the first tower location in Huntsville, AL is now complete and the company has begun its marketing efforts. It is anticipated that the network will have a positive contribution to operations in the third quarter.

• The Company continued to develop its HammerCall platform, including working with white label resellers on branded versions of the application. Users that are already on the platform have been reporting strong performance. HammerCall licenses will be included in certain fixed wireless packages, which will promote the application.

“We are now beginning to see the benefit of the platform that we have established,” said Kristen Vasicek, Hammer’s COO. “The OTT business continues to grow organically and Hammer’s telecommunications practice will be well positioned to respond to opportunities as markets continue to recover.”

In addition to strong growth from the OTT segment, Hammer also announced that it has completed construction of the first tower site in Huntsville, AL. “We are very pleased to announce Hammer’s return to the fixed wireless market. We are leveraging our strong brand recognition in the northern Alabama market to launch our wireless service for both the residential and business segments,” said Erik Levitt, Hammer’s CEO. “This is a significant milestone in Hammer’s Everything Wireless strategy, the core of Hammer’s telecommunications business.”

Hammer continued to round out its OTT offerings with continuing development of its HammerCall platform, targeted toward video conferencing and collaboration. This included the production release of its IOS and Android applications. The Company also continued to work with its partners to develop white labelled versions of the application.

A further update on our operations will be available via a HammerLive broadcast on Tuesday June 15^th, 2021 at 4:00PM EDT, and viewable online at https://www.hammercorp.info/hammerlive.

About Hammer
Hammer Fiber Optics Holdings Corp. (OTCQB:HMMR) is a telecommunications company investing in the future of wireless technology. Hammer’s “Everything Wireless” go to market strategy includes the development of high-speed fixed wireless service for residential and small businesses using its wireless fiber platform, Hammer Wireless® AIR, Over-the-Top services such as voice, SMS and video collaboration services, the construction of smart city networks and hosting services including cloud and colocation. For more information contact our Investor Relations Team at info@hammerfiber.com

Video here: https://www.youtube.com/watch?v=cMg00KHTpCM

Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) announced operating and financial results for the fiscal quarter ended January 31, 2021. In addition to an increase in revenues versus the same period the prior year, Hammer negotiated settlements in two claims, reducing debt on its balance sheet by $4.314 million.

Key results include:

• Total revenues for the quarter were $508,848, a 4.72% increase from the quarter ended October 31, 2020, and a 23.87% increase over the quarter ended January 31, 2020. The increase was due to strong performance from Hammer’s SMS messaging and hosting practices.

• EBITDA (non-GAAP) loss for the quarter decreased to $30,325, a 74.15% decrease from the quarter ended October 31, 2020, and a 76.77% decrease from the quarter ended January 31, 2020.

• The Company settled with two creditors of its discontinued subsidiaries, reducing liabilities on the balance sheet by $4.314 million, a 45.45% decrease in liabilities. The settlements totaled $160,000 in cash. The Company will continue to settle its remaining liabilities with creditors in coming quarters.

• Construction of the first tower location in Huntsville progressed, with fiber having been delivered. Delays due to materials shortages have been resolved and the final live date has been moved to early April.

• The Company continued to make progress on its HammerCall video conferencing product, including the completion of the final releases of its IOS and Android applications.

“We continued to experience organic growth in our Over-the-Top business segment, which includes our hosting, SMS messaging and wholesale voice practices,” said Kristen Vasicek, Hammer’s COO.  “These revenue streams will be joined by revenues from the fixed wireless business as we complete our deployment in Huntsville.”

In additional to organic growth, the Company significantly improved its balance sheet by settling with two creditors, reducing liabilities by over $4.3 million. “Resolving the Company’s liabilities associated with discontinued operations is one of management’s objectives and this represented a significant milestone,” said Erik Levitt, Hammer’s CEO. “Presenting a strong balance sheet will be key to both operations and the long-term stability of the company as well as any possible future financing.”

A further update on our operations will be available via a HammerLive broadcast on Thursday April 8^th, 2021 at 2:00PM EDT, and viewable online at https://www.hammercorp.info/hammerlive.

About Hammer
Hammer Fiber Optics Holdings Corp. (OTCQB:HMMR) is a telecommunications company investing in the future of wireless technology. Hammer’s “Everything Wireless” go to market strategy includes the development of high-speed fixed wireless service for residential and small businesses using its wireless fiber platform, Hammer Wireless® AIR, Over-the-Top services such as voice, SMS and video collaboration services, the construction of smart city networks and hosting services including cloud and colocation. For more information contact our Investor Relations Team at info@hammerfiber.com