MONTREAL, Dec. 29 /CNW Telbec/ - Alphinat Inc. (TSX-VN : NPA), announces its results for the fiscal year ended August 31, 2010.
Fiscal 2010 marked a very important step for Alphinat in establishing it's network of partners and in the commercialization of SmartGuide®, the company's flagship product. The achievements with Bull in the project delivery for the Direction Générale de Modernisation de l'État (DGME) of the French Republic have had a significant impact in the company's ongoing sales efforts in the private and public sectors. To support sales growth and new partner acquisition, Alphinat initiated a private placement that it announced on December 22, 2010. The proceeds from the financing will be used to ensure proper support and commercial success of the company's partnerships as well as for prospecting new clients and partners, notably in the United Sates, a priority target for the company.
During fiscal 2010, Alphinat recognized revenue totalling $1,255,514 compared to $1,119,032 for 2009 and $1,342,504 for 2008. Net losses for fiscal 2010 totaled $361,668 compared to a net loss of $387,860 for fiscal 2009.
Alphinat's financial statements and Management's Discussion and Analysis for the period ending August 31, 2010 can be found on SEDAR, at www.sedar.com.
Also, Alphinat Inc. announces that on December 21, 2010, the company's Board of Directors granted stock options representing a total of 850,000 common shares to a officers and other key employees of the Company. The exercise price on the options, which expire on December 21, 2015, is $0.12.
Alphinat develops, markets and supports software technology that enables non-technical managers to configure and deploy form-based Web applications and utilities that helps organizations and governments better serve clients. This technology uses sophisticated data organization and processing software to automate interactions between systems, employees, clients, suppliers and partners. The software is ubiquitous across organizational entities and information processing platforms, permitting a high level of collaboration in delivering complex service outcomes using existing legacy systems. It provides efficient and cost-effective solutions to clients at both the time of acquisition and on an ongoing basis.
Alphinat technology could also be used in the healthcare, banking, insurance, telecommunications and other sectors, in modernising, automating and rendering cost-effective a number of business processes at a fraction of the cost associated with conventional customized solutions. For more details about Alphinat or its software suite, please visit www.alphinat.com.
Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company's and CCFL Capital's ability to find subscribers in connection with the proposed private placement. This is only one of the factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: For further information:
Mr. Philippe Lecoq
Chief Executive Officer Alphinat Inc.
(514) 398-9799 ext 222