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MONTREAL, Aug. 29 /CNW Telbec/ - Montec Holdings Inc. ("Montec" or the "Company") (TSX-V : MTE), a holding company focused on acquiring and developing a diversified portfolio of high-growth technology companies, today announced its operational and financial results for the fiscal quarter ended on June 30, 2008.
Second Quarter Highlights
- 11% revenue increase from the first quarter of 2008.
- Signed agreements consolidating and expanding customer base.
Montec Consolidated Financials
Consolidated revenue for the second quarter ended June 30, 2008 was $1.5 million, an increase of $0.3 million from $1.2 million during the same period in 2007. All Montec revenues are generated by its 51% owned subsidiary Datex Billing Services Inc.
Consolidated net loss and comprehensive loss of the second quarter of 2008 stood at $336,000, or a basic and diluted net loss per share of $0.015, compared to a net loss and comprehensive loss of $192,000, or a basic and diluted loss per share of $0.009, for the same period in 2007.
"We have invested resources during Q2 to support our growth. These investments reflect our commitment to continue increasing our revenues, with the goal of enhancing our performance during the second half of 2008", commented Myer Bentob.
As of August 29, 2008, there were 14,454,500 common shares, 7,294,118 Series A preferred shares, and 3,030,000 common share purchase warrants of the Company issued and outstanding. Of these, an aggregate of 4,112,216 common shares, 3,282,357 Series A preferred shares and 1,363,500 common share purchase warrants are still held in escrow pursuant to the policies of the TSX Venture Exchange. There are stock options outstanding in respect of an aggregate of 283,270 common shares held by the directors and officers of the Corporation. The weighted average exercise price of these options is $0.19 per share and expires five years after the date of the grant.
Additional information about the Company, including the management report and financial results may be found on SEDAR at www.sedar.com.
About Montec Holdings Inc.
Montec Holdings Inc. is listed on the TSX Venture Exchange (TSX-V: MTE). Montec's objective is to create shareholder value by building a profitable technology entity with high-growth potential. Structured as a holding company, Montec's mandate is to acquire shareholdings of a number of synergistic companies and develop a diversified portfolio of high-growth technology companies. For more information about Montec Holdings, please visit our website at www.montecholdings.com
Forward Looking Statements
This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00020865E