Business
Montec Holdings Inc. announces 2008 results and increase of stock options
MONTREAL, April 30 /CNW Telbec/ - Montec Holdings Inc. ("Montec" or the "Company") (TSX-V : MTE),...
About this update from Defence Therapeutics Inc Class A
[{"type":"text","content":"\n\n\n\nMONTREAL, April 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 year ended on\nDecember 31, 2008.\n\n\n2008 Highlights\n\n\n- 23% revenue increase from 2007.\n\n\n- 10% revenue increase from the third quarter of 2008.\n\n\n- Normalized EBITDA of $155,000 in 2008.\n\n\nMontec Consolidated Financials\n\n\nConsolidated sales during the year 2008 totaled $6.4 million, an increase\nof $1.2 million from $5.2 million during the same period in 2007. All Montec\nrevenues are generated by its wholly owned subsidiary Datex Billing Services\nInc. The increase is the result of the acquisition of Contour at the end of\nthe second quarter of 2007 and ADA at the beginning of the third quarter of\n2007.\n\n\nGross margin for the year 2008 was 53% of sales compared to 66% during\nthe same period in 2007. Gross margin is not comparable between the two\nperiods under review since the results of the year 2007 included two quarters\nand three weeks of operations of Contour, acquired at the end of the second\nquarter of 2007, and 22 weeks of ADA, acquired at the beginning of the third\nquarter of 2007.\n\n\nConsolidated net loss and comprehensive loss for 2008 stood at $0.9 M or\na basic and diluted loss per share of $0.041, compared to a loss of $0.5 M or\n$0.023 per share for the same period in 2007.\n\n\nAs of April 30, 2009, the authorized capital of Montec consists of an\nunlimited number of Montec Common shares, Series A preferred shares and Series\nB preferred shares and Common share purchase warrants of which 30,961,000\nCommon shares, 7,294,118 Series A preferred shares, 18,743,500 Series B\npreferred shares and 3,450,000 common share purchase warrants shall be issued\nand outstanding.\n\n\n2008 was a year of expansion in both capabilities and capacity for\nMontec's subsidiary Datex Billing Services Inc. Research and Development\nexpense increased to $432,000 (6.8% of revenue) from $119,000 in 2007. This\nwas mainly due to an increase in focus on its Operating Support Systems (OSS)\narea. Management views this as having a strong potential in providing\nadditional functionality of provisioning order...