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

    MONTREAL, March 28 /CNW Telbec/ - For the three-month period ended
January 31, 2008, MCO CAPITAL INC. ("MCO Capital" or "the Company"; ticker
symbol MCO.H/NEX) did not record any income and incurred operating expenses of
$14,556, consisting primarily of professional fees. During the same period in
2006, the Company had recorded no income and had incurred operating expenses
of $11,942. Therefore, the Company closed the first quarter of fiscal 2008
with a net loss of $14,556 or $0.003 per share, compared with a net loss of
$11,942 or $0.003 per share during the same quarter the previous year. The
share capital remained unchanged, being 4,233,689 Class B shares issued and
    Operating activities used cash flows of $15,744 (compared with $12,964
the prior year), due to the quarter's net loss and a slight increase in taxes
receivable. In regards to financing activities, MCO contracted a new
interest-free advance of $10,000 with the parent company. As a result of the
various cash flows of the quarter, the Company's cash decreased by a net
amount of $5,744 to stand at $7,271 as at January 31, 2008, compared with
$13,015 on October 31, 2007.
    At the end of the first quarter of fiscal 2008, total assets stood at
$23,883 compared with $28,939 on October 31, 2007, and consisted of cash and
taxes receivable. Total liabilities, in the amount $108,500, consisted of
interest-free advances from the parent company totalling $90,000, as well as
creditors and fees payable in the amount of $18,500. Shareholders' equity
showed a deficit of $84,617, compared with a deficit of $70,061 three months
    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

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890