MONTREAL, Aug. 29 /CNW Telbec/ - BUS Systems Inc. ("BUS" or "the
Company") (TSX-V: BUS) today reported its results for the first quarter ended
July 31, 2007.
BUS posted revenues of $26,762 for the first quarter ended July 31, 2007
compared to nil the previous year. The Company incurred total expenses of
$418,146 compared to $4,723 a year earlier. Consequently, the net loss for the
first quarter of fiscal 2008 amounted to $391,384 or $0.015 per share compared
to a loss of $4,723 or $0.001 per share the previous year.
The Company continued to market its BUS Controller(TM) solution and BUS
Connector(TM) software to market leaders in industries related to the Quebec
automobile insurance claims segment, namely insurance companies, collision
repair groups, franchisors and other key players.
"We continue to make progress each quarter, and discussions with our
potential partners are going well," said Claude Savard, President and Chief
Executive Officer of BUS Systems. "We also expect the coming release of BUS
Manager(TM), planned for mid-September, to have a significant impact on
selling activities in the coming months."
BUS operates an interactive, transactional internet portal for the
management, processing and follow-up of insurance claims, including management
of relations and the exchange of information between the participants.
The Company's mission is to offer an evolving, integrated electronic
solution that allows those involved in the claims sector or automotive events
industry to come together to exchange information, perform all of the
transactions required within the framework of their respective activities and
continuously improve the efficiency of claims processing.
For additional information about BUS, visit the Company's website at
This press release contains "Forward-Looking Statements" pursuant to the
securities legislation which are based on certain estimates and expectations.
Statements which are not based on historical fact, in particular statements on
management's views and expectations, are Forward-Looking Statements. These
statements are subject to certain risks and uncertainties and the actual
results could differ materially from those presented. The Company is under no
obligation to update any Forward-Looking Statement to take into account any
new information, future event or any other factor.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
For further information:
For further information: BUS Systems Inc.: Claude Savard, President and
CEO, (514) 350-5252, email@example.com; SOLAK Communications: François
Kalos, (450) 993-0828, firstname.lastname@example.org