TORONTO, Feb. 16 /CNW/ - Hosted Data Transaction Solutions Inc. ("HDX"), a Canadian leading point of sale company in Canada announced that based on unaudited preliminary results for the three and twelve months ended December 31, 2009, the company expects revenue to be between $2.3 and $2.5 million for the fourth quarter and $9.4 and $9.6 million for the fiscal year ended December 31, 2009.
These unaudited preliminary revenue results are, in accordance with normal procedures, subject to further review and completion by the company and its auditors.
The preliminary annual 2009 financial results are being disclosed in conjunction with the company's announcement of a private placement of subscription receipts in the amount of Cdn$15 million on a best efforts basis. The net proceeds from the Offering will be used to fund the Cdn$9 million cash portion of the purchase price of the Cash N Go and Posera Purchase Transactions. The balance will be used for working capital purposes and other general corporate purposes.
The company does not intend to release preliminary financial results in future periods.
About the Company
Hosted Data Transaction Solutions Inc. is in the business of managing merchant transactions with consumers and facilitating payment. HDX develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.
HDX leading edge technology also includes customer self serve kiosks and "line buster" mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
The Company offers a complete suite of products and solutions for merchants. HDX develops, sells, deploys, and supports touch screen POS systems for quick service restaurants, integrated RFID gift card payment systems, self serve customer kiosks, mobile wireless POS terminals, fine dining / table service POS systems, integrated digital video surveillance and recording systems, electronic cash registers, and web enabled business intelligence applications.
Risks and Uncertainties
The Company is exposed to a variety of risks in the normal course of operations. In the Annual Information Form of the Company dated March 30, 2009, it provided a detailed review of the risks that could affect its financial condition, results of operation or business that could cause actual results to differ materially from those expressed in our forward-looking statements. In management's opinion, there has been no material change in the nature or magnitude of the risks faced by the Company.
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Annual Information Form filed on March 30, 2009 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless required by security regulation.
Additional information related to the Company can be found on SEDAR at www.sedar.com.
SOURCE HOSTED DATA TRANSACTION SOLUTIONS INC.
For further information: For further information: Paul Howell, President/CEO, Hosted Data Transaction Solutions Inc., Phone: (416) 703-6462, extension 2263, Email: Paul.firstname.lastname@example.org