MCO Capital Inc.'s Results for the Second Quarter of Fiscal 2007



    MONTREAL, June 26 /CNW Telbec/ - For the three-month period ended
April 30, 2007, MCO CAPITAL INC. ("MCO Capital" or "the Company"; ticker
symbol MCO.H/NEX) did not record any income and incurred operating expenses of
$16,153 consisting primarily of professional fees. During the same quarter in
2006, the Company had recorded no income and had incurred operating expenses
of $29,119. Therefore, the Company closed the second quarter of fiscal 2007
with a net loss of $16,153 or $0.004 per share, compared with a net loss of
$29,119 or $0.007 per share during the same quarter the previous year. The
share capital remained unchanged, being 4,233,689 Class B shares issued and
outstanding. For the six-month period ended April 30, 2007 MCO Capital Inc.
did not record any income and incurred operating expenses totaling $28,095 and
consisting primarily of professional fees. During the same period in 2006, the
Company had recorded no income and cumulated operating expenses of $34,575.
Therefore, the Company posted a total net loss of $28,095 or $0.007 per share
during the first half of fiscal 2007, compared with a net loss of $34,575 or
$0.008 per share during the same period of the previous year.
    Since the beginning of fiscal 2007, operating activities have used cash
flows of $23,792 (compared with $28,090 the prior year), due to the period's
net loss and a slight increase in taxes receivable. In regards to financing
activities, MCO reimbursed $78,004 interest-free advances due to a company
under common control, and contracted new interest-free advances of $30,000
with a shareholder company, $20,000 of which in the first quarter and $10,000
in the second. As a result of the various cash flows of the period, the
Company's cash decreased by a net amount of $71,796 to stand at $8,367 as at
April 30, 2007, compared with $80,163 on October 31, 2006.
    At the end of the second quarter of fiscal 2007, total assets stood at
$21,415 compared with $92,774 on October 31, 2006, and consisted of cash and
taxes receivable. Total liabilities, in the amount $63,500, consisted of
creditors and fees payable, in addition to the aforementioned interest-free
advances. Shareholders' equity showed a deficit of $42,085, compared with a
deficit of $13,990 six months earlier.
    Board members and officers are currently considering various alternatives
in regards to the Company's future.




For further information:

For further information: Philippe Marleau, President, MCO Capital Inc.,
(514) 397-0188

Organization Profile

MCO CAPITAL INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890