MCO Capital Inc.'s Results for the Second Quarter of Fiscal 2008



    MONTREAL, June 26 /CNW Telbec/ - For the three-month period ended
April 30, 2008, MCO CAPITAL INC. ("MCO Capital" or "the Company"; ticker
symbol MCO.H/NEX) recorded revenues of $384, whereas no income had been
recorded during the corresponding period of the previous year. The Company
incurred operating expenses of $12,740 compared with $16,153 the previous
year, consisting primarily of professional fees. Therefore, the Company closed
the second quarter of fiscal 2008 with a net loss of $12,356 or
$0.003 per share, compared with a net loss of $16,153 or $0.004 per share
during the same quarter in 2007. The share capital remained unchanged, being
4,233,689 Class B shares issued and outstanding. For the six-month period
ended April 30, 2008, MCO recorded income of $384 and incurred operating
expenses totaling $26,912, consisting primarily of professional fees. During
the same period in 2007, the Company had recorded no income and cumulated
operating expenses of $28,095. Therefore, the Company posted a total net loss
of $26,912 or $0.006 per share during the first half of fiscal 2008, compared
with a net loss of $28,095 or $0.007 per share per share during the same
period of the previous year.
    Since the beginning of fiscal 2008, operating activities have used cash
flows of $20,868 (compared with a use of $23,792 the prior year), due to the
period's net loss and the reimbursement of $8,100 in accounts payable and
accrued liabilities, which was partly compensated by the receipt of $14,144 of
taxes receivable. In regards to financing activities, MCO contracted new
interest-free advances of $20,000 with the shareholder company, $10,000 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 $868 to stand at $12,147 as at April 30, 2008, compared with $13,015 on
October 31, 2007.
    At the end of the second quarter of fiscal 2008, total assets stood at
$13,927 compared with $28,939 on October 31, 2007, and consisted of cash and
taxes receivable. Total liabilities, in the amount $110,900 consisted of
interest-free advances of $100,000 from the shareholder company, the balance
consisting of creditors and fees payable. Shareholders' equity showed a
deficit of $96,973, compared with a deficit of $70,061 six months earlier. The
Company expects that its current capital resources will be sufficient to honor
its liabilities as at April 30, 2008.
    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

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MCO CAPITAL INC.

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