Business
Minaean Announces First Quarter Financial Results
Minaean Announces First Quarter Financial Results
About this update from Global Power Solutions Corp
[{"type":"text","content":"Minaean Announces First Quarter Financial Results\n\n\n\nMinaean Announces First Quarter Financial Results\n\nVancouver, British Columbia CANADA, September 02, 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 first quarter ended June 30, 2008.\n\nHighlights for Q1 2009\n\n* Record revenues for the three months ended June 30, 2008 of $1,352,210 as compared to $792,723 for the three months ended June 30, 2007, representing a 71% increase.\n* Net earnings of $101,857 for the first quarter in 2008 as compared to a net loss of $88,957 for the first quarter in 2007.\n* Completed private placement financing of 3,568,545 units at a price of $0.275 per unit for gross proceeds of $981,350\n* Minaean 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 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\nBus Queue Shelters:\n* Awarded a contract for the fabrication and installation of 100 units of its ultra modern steel Bus Queue Shelters in Mumbai, India, by a well-known advertising and media company for the Mumbai Transit Authority.\n* Awarded a contract for the supply of 100 Bus Queue Shelters in Bangalore, India by the Bangalore Public Transport Authorities\n\nLight Boxes:\n* Awarded a contract by the Mumbai Transit Authority for the installation of light boxes on 100 bus queue shelters.\n\nOperations in North America:\n* Signed a Letter of Intent with British Columbia property development giants Adera Properties of the Adera Group of Companies for the supply and installation of wall panels for its 85,230 sq. ft. condominium project in Vancouver, British Columbia, Canada.\n* Received a purchase order from Kerosiotis Developments for the supply and installation of wall panels for its condominium project in Vancouver, British Columbia, Canada. The project, located on the crossroads of Waterloo Street and West Broadway in Vancouver, has been designed as a 4 storey residential and commercial development consist...