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Minaean Announces Financial Results For The Year Ended March 31, 2008
Minaean Announces Financial Results For The Year Ended March 31, 2008
About this update from Global Power Solutions Corp
[{"type":"text","content":"Minaean Announces Financial Results For The Year Ended March 31, 2008\n\n\n\nMinaean Announces Financial Results For The Year Ended March 31, 2008\n\nVancouver, British Columbia CANADA, August 01, 2008 /FSC/ - Minaean International Corp. (MIB - TSX Venture, NJA - FWB, NJA - BSE), (\"Minaean\" or the \"Company\") is pleased to announce its financial results for the year ended March 31, 2008.\n\nHighlights for Fiscal 2008\n\n* Record revenues for the year ended March 31, 2008 of $3,885,109 as compared to $3,401,376 for the year ended March 31, 2008, representing a 14% increase.\n* March 31, 2008 gross margin of 26% compared to March 31, 2007 gross margin of 23%.\n* Completed two private placement financings of an aggregate of 3,769,545 units at a price of $0.275 per unit and $0.33 per unit for gross proceeds of $1,047,680.\n* Completed private placement of five-year convertible debentures for gross proceeds of $900,000.\n* Minaean announces that it has engaged First Canadian Capital Corp. for investor relation services.\n* Launched its newly developed \"Artisan Composite System\" through its subsidiary in India.\n\nOperations in India:\nRetail Outlets:\n* Contracted for an additional 28 modular retail buildings for Shell India Marketing Pvt Ltd.'s gas station sites in the Southern and Western regions of India. This order is in addition to the 37 modular retail buildings contracted in fiscal 2007.\n* Contracted by Bharat Petroleum Corporation Limited to construct 452 sq ft retail outlet building for its existing gas stations in Bangalore which is undergoing remodeling and refurbishing. \n\nPorta-Cabin & Modular Offices:\n* Completed production of the first Porta-Cabin and Modular Office prototypes for usage as a mini site office with an area of 160 sq ft and 320 sq feet, respectively, to meet the campsite demands from the booming oil exploration industry.\n\nATMS:\n* Awarded contracts for modular buildings to house ATM units from:\no Union Bank of India for four units, using the Company's Cellular Light Concrete technology, at the Western Railways Suburban Stations in Mumbai.\no Canara Bank for 30 units, using the Company's Modular Quik-BuildTM technology, at the suburban railways stations in Mumbai. \no ICICI Bank for 20 units within the Central and Western Railway Stations in Mumbai.\n\nBus Queue ...