Business
OneMove(TM) Reports Third Quarter Fiscal 2008 Results
Company appoints interim Chief Financial Officer VANCOUVER, May 29 /CNW/ - OneMove Technologies I...
About this update from Osisko Metals Incorporated
[{"type":"text","content":"\n\n\n\nCompany appoints interim Chief Financial Officer\n\n\nVANCOUVER, May 29 /CNW/ - OneMove Technologies Inc. ("OneMove" or the\n"Company") (TSX-V: OM), a provider of a leading web-based real estate\ntransaction platform, today announces its financial results for the three- and\nnine-month periods ended March, 31 2008. All dollar figures are reported in\nCanadian dollars unless otherwise stated.\n\n\nOn March 7, 2008, OneMove completed the sale of its U.K.-based\nsubsidiary, OneMove Limited. As a result of this transaction, OneMove's\nfinancial results for the three-and nine month periods for fiscal 2008 and\nfiscal 2007 exclude contributions from OneMove Limited, and are reported as\ncontinuing operations.\n\n\nThird Quarter Fiscal 2008 Summary\n---------------------------------\n- Revenue of $0.3 million, a 41% increase over revenue of $0.2 million\n in Q3 2007\n- Cumulative transactions processed in B.C. increased to approximately\n 11,200, compared to approximately 7,900 in Q3 2007\n- Average daily revenue from B.C. grew to approximately $4,600 from\n approximately $3,200 in Q3 2007\n- EBITDA(x) (as defined at the end of the release) of $(0.3) million,\n in line with $(0.3) million in Q3 2007\n- Net loss from continuing operations of $0.3 million, or $(0.01) per\n share, compared to $0.4 million, or $(0.02) per share, in Q3 in 2007\n- Increased number of econveyance users to 620 lawyers and notaries\n from 393 lawyers and notaries in Q3 2007\n- Completed the sale of OneMove Limited, the Company's U.K.-based\n operations\n- Named one of the Branham300 Top 25 Up and Coming Information\n Technology Companies\n\n\n"During the quarter, we continued to realize increased adoption of\neconveyance," said Martin Johnson, President and CEO, OneMove. "In addition,\nwith the sale of OneMove Limited and the organizational changes we made\nsubsequent to quarter end, we have reduced our cost base and are able to\nallocate greater resources toward the market opportunity in B.C. The push\ntoward paperless conveyance transactions continues across the province. More\nspecifically, earlier this year, the Land Title and Survey Authority of\nBritish Columbia presented their business plan, which states that electronic\nfiling of completed conveyance documents will be mandatory by 2011."\n\n\nMr. Johnson c...