KELOWNA, BC, and EDMONTON, Oct. 29 /CNW/ - TOTAL TELCOM INC.
(TSX Venture: TTZ) today announced its financial results for the year ending
June 30th, 2007. The Company's consolidated revenue from operations were
$1,328,698. The Company reported a net loss of $233,328 or a loss of
$0.009 per share compared to a net loss of $0.21 per share for the year ending
June 30, 2006. The Company reported cash of $4,822,048 and working capital of
$5,106,246 as at June 30, 2007.
Mr. Scott Allen, C.A., CFO, stated that "the Company reported a positive
cash flow from continuing operations of $51,580 before amortization and
depreciation of $284,908 reflecting a significant milestone in the
Corporation's financial performance."
Mr. Neil Magrath, CEO, stated that "Management is pleased with its
initiatives, direction and the financial progress of Total Telcom Inc. We
anticipate a slow start to the first half of the new fiscal year followed by a
very strong 3rd and 4th quarter as the Corporation introduces a new
proprietary product line called ROMTRAX currently being evaluated by a number
of customers including the Canadian Coast Guard."
Trading symbol: TTZ: TSX Venture
"The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release."
For further information:
For further information: Investor Relations, Ben McClure, Phone: (780)