MONTREAL, Aug. 29 /CNW Telbec/ - Montec Holdings Inc. ("Montec" or the
"Company") (TSX-V : MTE), a holding company focused on acquiring and
developing a diversified portfolio of high-growth technology companies, today
announced its operational and financial results for the fiscal quarter ended
on June 30, 2008.
Second Quarter Highlights
- 11% revenue increase from the first quarter of 2008.
- Signed agreements consolidating and expanding customer base.
Montec Consolidated Financials
Consolidated revenue for the second quarter ended June 30, 2008 was
$1.5 million, an increase of $0.3 million from $1.2 million during the same
period in 2007. All Montec revenues are generated by its 51% owned subsidiary
Datex Billing Services Inc.
Consolidated net loss and comprehensive loss of the second quarter of
2008 stood at $336,000, or a basic and diluted net loss per share of $0.015,
compared to a net loss and comprehensive loss of $192,000, or a basic and
diluted loss per share of $0.009, for the same period in 2007.
"We have invested resources during Q2 to support our growth. These
investments reflect our commitment to continue increasing our revenues, with
the goal of enhancing our performance during the second half of 2008",
commented Myer Bentob.
As of August 29, 2008, there were 14,454,500 common shares, 7,294,118
Series A preferred shares, and 3,030,000 common share purchase warrants of the
Company issued and outstanding. Of these, an aggregate of 4,112,216 common
shares, 3,282,357 Series A preferred shares and 1,363,500 common share
purchase warrants are still held in escrow pursuant to the policies of the TSX
Venture Exchange. There are stock options outstanding in respect of an
aggregate of 283,270 common shares held by the directors and officers of the
Corporation. The weighted average exercise price of these options is $0.19 per
share and expires five years after the date of the grant.
Additional information about the Company, including the management report
and financial results may be found on SEDAR at www.sedar.com.
About Montec Holdings Inc.
Montec Holdings Inc. is listed on the TSX Venture Exchange (TSX-V: MTE).
Montec's objective is to create shareholder value by building a profitable
technology entity with high-growth potential. Structured as a holding company,
Montec's mandate is to acquire shareholdings of a number of synergistic
companies and develop a diversified portfolio of high-growth technology
companies. For more information about Montec Holdings, please visit our
website at www.montecholdings.com
Forward Looking Statements
This press release contains forward-looking statements which reflect the
Company's current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could differ
materially from those projected herein. The Company disclaims any obligation
to update these forward-looking statements.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Myer Bentob, Chairman & CEO, Montec Holdings
Inc., (514) 630-7262, firstname.lastname@example.org