Nov 14, 2019   SOURCE: PR NewsWire

IDenta Corp Reports 2019 Third Quarter Financial Results Surpassing all of 2018 Sales

JERUSALEM, Nov. 14, 2019 /PRNewswire/ -- IDenta Corp. (OTCQB: IDTA) is a worldwide leader in the development of Detection Kits to identify Drugs and Explosives and Unique Forensic Products in the Homeland Security Market and Consumer Market. Today IDenta Corp reports its 2019 third quarter financial statement which shows revenues of $918,997 for the first three quarters of 2019 compared to $654,305 for the same period of 2018.

Mr. Amichai Glattstein, Chief Executive Officer, commented: "We are pleased with this quarter's strong results and which show a steady trend of increasing sales. The improved results are a consequence of both product expansion and penetration into new markets. We are tailoring targeted solutions to new customers based on our broad product platform which gives maximum solutions to customer demands."

Highlights of the Third Quarter of 2019 compared to the Third Quarter of 2018:

    --  Revenues for the third quarter of 2019 were $381,550 compared to
        revenues of $260,183 in the third quarter of 2018;
    --  Gross profit stays the same as $199,333 compared to the third quarter of
        2018 as a result of commission payments for sales;
    --  Operating profit decrease to $59,012 for the third quarter of 2019
        compared to operating profit of $102,319 in the third quarter of 2018 as
        a result of an increase in the number of employees and preparations for
        exhibitions;
    --  Net profit decrease to $44,953 in the third quarter of 2019 compared to
        $97,863 in the third quarter of 2018;
    --  Cash and cash equivalents increased in $150,280 for the first three
        quarters of 2019 compared to $1,542 for the first three quarters of
        2018.

About IDenta Corp.

Since 2002, IDenta Corporation and its subsidiary IDenta Ltd has been recognized as a worldwide leader in the development of proprietary on-site Drug, Drug Precursor and Explosive detection kits. IDenta develops, manufactures and distributes revolutionary products for both the professional and civil markets which consistently pass the highest qualifications and testing procedures of law enforcement and security agencies around the world.

Safe Harbor Statement

Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements" that are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future.

Company Contact Information:
Public Relations
Tel: +972-2-5872220
E: pr@identa-corp.com

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SOURCE IDenta Corp.