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Montec Holdings Inc. announces 2008 first quarter results
MONTREAL, May 30 /CNW Telbec/ - Montec Holdings Inc. ("Montec" or the "Company") (TSX-V : MTE), a...
About this update from Defence Therapeutics Inc Class A
[{"type":"text","content":"\n\n\n\nMONTREAL, May 30 /CNW Telbec/ - Montec Holdings Inc. ("Montec" or the\n"Company") (TSX-V : MTE), a holding company focused on acquiring and\ndeveloping a diversified portfolio of high-growth technology companies, today\nannounced its operational and financial results for the fiscal quarter ended\non March 31, 2008.\n\n\nFirst Quarter Highlights\n\n\nOn April 1st, 2008 the Company announced that it has entered into a\nLetter of Intent with the five minority shareholders of Datex Billing Services\nInc. under which the parties have agreed to the terms and conditions for the\nacquisition by Montec of the 49% of Datex held by the minority shareholders.\nMontec currently holds 51% of Datex's outstanding shares.\n\n\nMontec Consolidated Financials\n\n\nConsolidated revenue for the first quarter ended March 31, 2008 was\n$1.3 million compared to $1.1 million for the corresponding period in 2007.\nAll Montec revenues are generated by its 51% owned subsidiary Datex Billing\nServices Inc.\n\n\nConsolidated net loss for the quarter ended March 31, 2008 was $155,000\nor $0.007 per basic and diluted share compared to a loss of $97,500 or\n$0.004 per basic and diluted share in March 2007.\n\n\nNormalized earnings before interests, taxes, depreciation and\namortization ("EBITDA") totalled $95,300, or 7.5% of revenues compared to\n$164,600, or 14.7% of revenues, for the first quarter of 2007.\n\n\nWorking capital was negative at $0.9 million, a non material variation\nsince the beginning of the year.\n\n\nAs of May 29, 2008, there were 14,454,500 common shares, 7,294,118 Series\nA preferred shares, and 3,845,000 common share purchase warrants of the\nCompany issued and outstanding. Of these, an aggregate of 5,648,399 common\nshares, 4,376,475 Series A preferred shares and 1,818,000 common share\npurchase warrants are still held in escrow pursuant to the policies of the TSX\nVenture Exchange. There are stock options outstanding in respect of an\naggregate of 283,270 common shares held by the directors, officers and\nfounders of the Corporation.\n\n\nAdditional information about the Company, including the management report\nand financial results may be found on SEDAR at www.sedar.com.\n\n\nAbout Montec Holdings Inc.\n\n\nMontec Holdings Inc. is listed on the TSX Venture Exchange (TSX-V: MTE).\nMontec's objecti...