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



    MONTREAL, Sept. 22 /CNW Telbec/ - MCO CAPITAL INC. ("MCO" or "the
Company"; ticker symbol MCO.H/NEX) did not record any revenues during the
three-month periods ended July 31, 2008 and 2007. For the third quarter of the
current year, the Company incurred operating expenses of $17,714 compared with
$18,255 the previous year, consisting primarily of professional fees.
Therefore, the Company closed the third quarter of fiscal 2008 with a net loss
of $17,714 or $0.004 per share, compared with a net loss of $18,255 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 nine-month period ended July 31, 2008, MCO recorded income of
$384 and incurred operating expenses totaling $45,010, consisting primarily of
professional fees. During the same period in 2007, the Company had recorded no
income and cumulated operating expenses of $46,350. Therefore, the Company
posted a total net loss of $44,626 or $0.011 per share during the first nine
months of fiscal 2008, compared with a net loss of $46,350 or $0.011 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 $35,472 (compared with a use of $61,528 the prior year). The use of
funds during the current year is attributable to the period's net loss coupled
with the reimbursement of $4,200 in accounts payable and accrued liabilities,
which was partly compensated by the receipt of $5,472 of taxes receivable. In
regards to financing activities, MCO contracted new interest-free advances of
$30,000 with the shareholder company, $10,000 of which in the first quarter,
$10,000 in the second and $10,000 in the third. As a result of the various
cash flows of the period, the Company's cash decreased by a net amount of
$5,472 to stand at $7,543 as at July 31, 2008, compared with $13,015 on
October 31, 2007.
    At the end of the third quarter of fiscal 2008, total assets stood at
$10,113 compared with $28,939 on October 31, 2007, and consisted of cash and
taxes receivable. Total liabilities, in the amount $124,800 consisted of
interest-free advances of $110,000 from the shareholder company, the balance
consisting of creditors and fees payable. Shareholders' equity showed a
deficit of $114,687, compared with a deficit of $70,061 nine months earlier.
The Company expects that its current capital resources will be sufficient to
honour its liabilities as at July 31, 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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