Amisk Inc. - 2007 Second quarter results



    Ticker symbol
    AS.A

    SAGUENAY, QC, Aug. 13 /CNW Telbec/ - Amisk announces a loss of $123,591
or a loss of $0.01 per share on a non-diluted basis and on a fully diluted
basis for 2007 second quarter.
    AMISK Inc. ("Amisk") is a public owned venture capital company whose
objective is to make high potential investments in Quebec with strategic
partners, particularly in the segments of high added-value products or those
using new technologies.
    During the last financial year, Amisk disposed of two (2) of its
investments and wrote off two (2) other of its investments that considerably
modified the business of the Company. The reduced investment activity has
resulted in the Company preserving only two (2) investments in the following
sectors:

    
    - Industry specialized in a niche market, mainly in the shaping and
      varnishing of birch and maple wood strips for flooring, mostly marketed
      under private brands;

    - Company active in the field of biotechnology, that upgrades bio-active
      ingredients derived from the fermentation of whey.

    During financial year 2006, the Company considered that all the criteria
of Section 3475 of the CICA Handbook were met and consequently, the Company
enters the investment in ETF, its subsidiary company, as abandoned business.

    Financial data for the 2nd Quarter - June 30, 2007

    Amisk owns 100% of an investment in Transmateria ("Transmateria") and 50%
of Société en commandite Sodexfor ("Sodexfor"), a joint venture, that in turn
owns 100% of the share capital of the E. Tremblay et Fils Ltée ("ETF")
company. Amisk adopted the proportional consolidation method to enter its
investment in Sodexfor.

    -------------------------------------------------------------------------
                                         For the      For the    Variation
                                         3 month      3 month        (%)
                                          period       period     Increase
                                       ending on    ending on    (Decrease)
    -------------------------------------------------------------------------
    Financial results                 30-06-2007   30-06-2006
    -----------------                         ($)          ($)
    -------------------------------------------------------------------------
    Income                                68,650       79,930      (11,280)
                                                                       (14%)%
    -------------------------------------------------------------------------
    Net profit (loss) on pursued
     business                           (123,591)  (1,574,445)   1,450,854
                                                                        92%
    -------------------------------------------------------------------------
    Loss on  abandoned business              000     (870,552)     870,552
                                                                       100 %
    -------------------------------------------------------------------------
    Net basic and diluted profit
     (loss) per share for pursued
     business                              (0.01)       (0.19)        0.18
                                                                        95 %
    -------------------------------------------------------------------------
    Net basic and diluted profit
     (loss) per share for abandoned
     business                                000        (0.10)        0.10
                                                                       100 %
    -------------------------------------------------------------------------
    Net basic and diluted loss per
     share                                 (0.01)       (0.29)        0.28
                                                                        97 %
    -------------------------------------------------------------------------
    Total assets                       8,661,436   13,267,110   (4,605,674)
                                                                       (35%)
    -------------------------------------------------------------------------
    Long-term liabilities and
     deferred credits for abandoned
     business                            724,094      734,979      (10,885)
                                                                        (2%)
    -------------------------------------------------------------------------


    For the 2nd quarter ending on June 30, 2007, Amisk records a loss on
pursued business of $123,591 or a loss of $0.01 per share on a non-diluted and
fully diluted basis compared to a loss on pursued business of $1,574,445 or a
loss per share of $0.19 on a non-diluted and fully diluted basis, for the same
period the previous year.
    Amisk records no loss for abandoned business for the 2nd quarter of 2007
compared to a loss for abandoned business of $870,552 for the same period the
previous year, or a loss of $0.10 per share. The agreements signed to date
regarding the potential transaction involving ETF allows the Company to avoid
a disbursement until the transaction occurs or until bankruptcy is declared.
The transaction could not be concluded during the 2nd quarter because of
certain terms of the agreement that could not be fulfilled. Negotiations are
under way with the potential buyer and all the efforts are being made to lead
to a transaction conclusion during the 3rd quarter.
    The total income decreased by $11,280 or 14 % compared to the same quarter
last year. This decrease is due to a modification in the accounting of
investments in bonds. Since January 2007, the accounting standards require to
disclose these investments at the fair value but no longer at their cost.
    The Company operations consist mainly in investing and cashing income from
interest or dividends. The Company also provides some management services to
its partner companies in consideration of remuneration.
    The quota-share in the satellite companies adds up to a loss of $48,499
for the 2nd quarter of 2007 compared to a loss of $202,202 for the same
quarter last year. Since the Company has divested many of its investments
during the 2006 financial year, the accounted quota-shares are thus lower.

    Bi-annual financial data - June 30, 2007
    ----------------------------------------

    -------------------------------------------------------------------------
                                         For the      For the    Variation
                                         6 month      6 month           (%)
                                          period       period     Increase
                                       ending on    ending on    (Decrease)
    -------------------------------------------------------------------------
    Financial results                 30-06-2007   30-06-2006
    -----------------
    -------------------------------------------------------------------------
    Income                               130,056    2,306,426   (2,176,370)
                                                                       (94 %)
    -------------------------------------------------------------------------
    Net profit (loss) on pursued
     business                           (517,681)     513,963   (1,031,644)
                                                                      (200%)
    -------------------------------------------------------------------------
    Loss on abandoned business               000   (3,863,867)   3,863,867
                                                                       100%
    -------------------------------------------------------------------------
    Net basic and diluted profit
     (loss) per share for pursued
     business                              (0.06)        0.06        (0.12)
                                                                      (200%)
    -------------------------------------------------------------------------
    Net basic and diluted profit
     (loss) per share for abandoned
     business                                000        (0.46)        0.46
                                                                       100%
    -------------------------------------------------------------------------
    Net basic and diluted loss per
     share                                 (0.06)       (0.40)        0.34
                                                                        85%
    -------------------------------------------------------------------------
    Total assets                       8,661.436   13,267,110   (4,605,674)
                                                                       (35%)
    -------------------------------------------------------------------------
    Long-term liabilities and
     deferred credits for abandoned
     business                            724,094      734,979      (10,885)
                                                                        (2%)
    -------------------------------------------------------------------------
    


    Amisk records a loss of $517,681 for the business pursued for the first
six-month period ending on June 30, 2007, or a loss per share of $0.06 on a
non-diluted and on a fully diluted basis, compared to a profit of $513,963 for
the business pursued for the same period the previous year, or an earning
per share of $0.06 on a non-diluted and on a fully diluted basis.
    Amisk records no loss for abandoned business during the first six month
period of 2007, compared to a loss of $3,863,867 for abandoned business for
the same period the previous year, or a loss of $0.46 per share.
    The total income decreased by $2,176,370 or 94%, compared to the same
first six-month period last year, mainly due to the gain of $2,159,500 on the
disposal of the MDF investment recorded during the first six-month period of
2006.
    With the results for the financial year ending on June 30, 2007, the book
value of the Class A and the Class B shares decreased from $0.74 to $0.68
relative to December 31, 2006.

    For further information on the quarterly reports, the annual reports, the
management report and other information, please consult the SEDAR site:
www.sedar.com




For further information:

For further information: Mr. Jean-Robert Larouche, Chairman of the Board
of Directors, (418) 540-4243; Mrs. Colette Gauthier, Chairwoman of the
auditing committee, (418) 545-5011, Extension 5328

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AMISK INC.

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