TORONTO, Feb. 28, 2012 /CNW/ - Quantitative Alpha Trading Inc. ("QAT", "the Company") today announced that its financial results for
the year ended December 31, 2011, along with management discussion and
analysis, have been filed on SEDAR.
QAT reported a net loss of $5,143,610 ($0.02 per share) for the year
ended December 31, 2011 as compared to a net loss of $3,147,585 ($0.03
per share) for the year ended December 31, 2010. The change was mainly
due to an increase in software amortization, share based compensation
and salary and wages. "2011 was a transitional year that saw the
Company starting to generate trading and licensing revenue late in the
year", said James McGovern, Chief Executive Officer of QAT. "We are
looking forward to executing on our strategic plan in the coming year
to capitalize on the numerous opportunities we see in the marketplace."
At December 31, 2011, the Company had $1,203,430 (2010 - 174,530) of
cash on hand and working capital of $956,936 (2010 - negative 304,162)
The annual audited financial statements, management's discussion and
analysis and additional information are available on the Company's
website (www.qatinc.com) and on SEDAR.
For more than a decade, QAT has been researching, developing and
maintaining proprietary algorithmic securities trading systems that
operate across numerous financial markets. Relying on behavioural
science patterns, the Company's proprietary systems use a linked series
of computer programs to analyze securities market data in real-time and
directly execute buy or sell orders over the electronic securities
exchanges while monitoring the status of every trade within a given
portfolio without human intervention. The Company trades on CNSX under
the symbol QAT and in the United States on the OTCQB under the symbol
Except for historic information, the matters discussed in this document
contain certain forward-looking statements. These statements involve
known and unknown risks, delays, uncertainties and other factors not
under the Corporation's control that may cause actual results, levels
of activity, performance or achievements to be materially different
from the results, levels of activity, performance, achievements or
expectations expressed or implied by these forward-looking statements.
CNSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of the content of this news release.
SOURCE QUANTITATIVE ALPHA TRADING INC.
For further information:
Jim McGovern, Chief Executive Officer, QAT - 1-416-323-0477, firstname.lastname@example.org