Business
Montec Holdings Inc. announces 2007 first quarter results
Montec Holdings Inc. announces 2007 first quarter results.
About this update from Defence Therapeutics Inc Class A
[{"type":"text","content":"\n\n\n\nMONTREAL, May 30 /CNW/ - Montec Holdings Inc. (TSX-V : MTE), a holding\ncompany focused on acquiring and developing a diversified portfolio of\nhigh-growth technology companies, today announced its operational and\nfinancial results for the fiscal quarter ended on March 31, 2007.\n\n\nFirst quarter highlights\n\n- Datex contract with Globalive Communications Corp.\n- Datex contract with Toronto Hydro Telecom Inc.\n- EBITDA of $155,000 compared to a negative $11,000 in Q1 2006\n\n\n"We are pleased with our performance throughout the first quarter of 2007\nas we successfully met the objectives we set at the beginning of the year,"\nsaid Myer Bentob, President and Chief Executive Officer of Montec Holdings\nInc. "Our subsidiary company, Datex, has won key contracts with Globalive\nCommunications Corp. and Toronto Hydro Telecom Inc. that will reinforce its\nposition and credibility in the billing industry."\n\n\nFinancials\n\n\nTotal revenue for the quarter ended March 31, 2007 was $1,119,000\ncompared to nil for the corresponding period in 2006. This increase is due to\nthe revenues generated by the acquisition of Datex Billing services Inc. as a\nQualifying Transaction in December 2006.\n\n\nEBITDA for the quarter ended March 31 2007 was $155,000 compared to a\nnegative $11,000 as at March 31, 2006. This increase is mainly due to the\nquality of the financial results of Datex acquired by Montec on December 29,\n2006.\n\n\nConsolidated loss for the quarter ended March 31, 2007, after provisions\nfor income tax of $103,000 and minority interest of $90,380, was $98,000 or\n$0.004 per basic and diluted share compared to a loss of $11,000 or $0.001 per\nbasic and diluted share in March 2006.\n\n\nThe Company had cash totaling $434,000 at March 31, 2007, a decrease of\n$179,000 from March 31, 2006. The Company had a negative working capital of\n$50,000 as at March 31, 2007.\n\n\nTotal consolidated long term assets were $3,772,000 as of March 31, 2007,\nthe same amount as of December 31, 2006. Long-term liabilities amounted to\n$873,000, a slight increase from December 31, 2006. As of March 31, 2007,\nthere were 14,454,500 common shares issued and outstanding and 7,294,118\npreferred shares issued and outstanding.\n\n\nAdditional information about the Company, including the MD&A and\nfinancial results may ...