Business
GlobeeCom International announces third-quarter sales growth of 66%
GlobeeCom International announces third-quarter sales growth of 66%.
About this update from Greenbank Capital Inc.
[{"type":"text","content":"\n\n\n\n\nTROIS-RIVIERES, Nov. 29 /CNW Telbec/ - The Board of Directors of\nGlobeeCom International Inc. (\"GlobeeCom\") (TSX Venture: GBC) has approved the\nCompany's unaudited interim financial statements for the period ended\nSeptember 30, 2005.\nAt the close of its third quarter ended September 30, 2005, GlobeeCom\nrecorded year-to-date revenues of $235,357, approximately half of which from\nEuropean sales. Revenues for the third quarter alone amounted to $105,933, up\nmore than 60% over the previous quarter. These results are in line with\nmanagement's forecasts for the first nine months of 2005.\nFor the same period, GlobeeCom International Inc. posted a consolidated\nnet loss of $1,138,908 after CDTI research and development tax credits of\n$78,564 and interest income of $4,530. Results include a stock-based\ncompensation expense of $74,103.\nGlobeeCom was accredited as a CDTI (Centre of Development in Information\nTechnology) in 2001. CDTI credits on eligible salaries are valid until 2013.\nThe Company also announces that the Board has granted, pursuant to its\nShare Purchase Option Plan, to Mr. Daniel Misiano, Vice-President Sales and\nBusiness Development, options to purchase a total number of 60,000 Common\nShares, for a period of 5 years, at a price of $0.20 per share. These options\nwill expire on November 29, 2010.\n\nRECENT DEVELOPMENTS\n\nOn November 22, 2005, the Company was granted an advance ruling by Revenu\nQuDebec for an accreditation to the ACCRO program, which will be used to\nintensify its capital-raising efforts.\nDuring the past quarter, the Company started selling its products in\nFrance through Inersis, its master distributor based in France.\nIn cooperation with its master distributor Inersis, GlobeeCom\nInternational Inc. is pleased to announce that Nouvelles FrontiGeres, France's\nleading tour operator and a subsidiary of TUI AG, has selected its IP\ntechnology.\nNouvelles FrontiGeres took this step to ensure that its partners have\nongoing access to information and training, to facilitate communications from\none geographical location to another and to ensure that each member of\nNouvelles FrontiGeres is kept up-to-date on new offerings and products, in\norder to better serve its customers. Among other reasons, Nouvelles FrontiGeres\nchose GlobeeCom's collaboration tools and IP technology for the...