TORONTO, May 9, 2012 /CNW/ - Quantitative Alpha Trading Inc. ("QAT", "the Company") today announced that its financial results for the three months ended March 31, 2012, along with management discussion and analysis, have been filed on SEDAR.
QAT reported a net loss of $1,018,206 ($0.00 per share) for the three months ended March 31, 2012 as compared to a net loss of $1,643,609 ($0.01 per share) for the three months ended March 31, 2011. The change was mainly due to a decrease in share based compensation. "The Company continues to make progress in building its infrastructure and refining its software offerings.", said James McGovern, Chief Executive Officer of QAT. "We are committed to completing the commercialization of the Company's software products across multiple distribution channels."
At March 31, 2012, the Company had $690,341 (2011 - 2,192,098) of cash on hand and working capital of $594,342 (2011 - $2,296,667).
The Company will be holding its Annual General and Special Meeting of Shareholders on Monday May 14, 2012 at 10 a.m. in the Kensington Room at the Le Meridian King Edward Hotel at 37 King Street East, Toronto, Ontario.
The unaudited consolidated condensed interim financial statements, management's discussion and analysis and additional information are available on the Company's website (www.qatinc.com) and on SEDAR.
For more than a decade, QAT has been researching, developing and maintaining proprietary algorithmic securities trading systems that operate across numerous financial markets. Relying on behavioural science patterns, the Company's proprietary systems use a linked series of computer programs to analyze securities market data in real-time and directly execute buy or sell orders over the electronic securities exchanges while monitoring the status of every trade within a given portfolio without human intervention. The Company trades on CNSX under the symbol QAT and in the United States on the OTCQB under the symbol QATSF.
Except for historic information, the matters discussed in this document contain certain forward-looking statements. These statements involve known and unknown risks, delays, uncertainties and other factors not under the Corporation's control that may cause actual results, levels of activity, performance or achievements to be materially different from the results, levels of activity, performance, achievements or expectations expressed or implied by these forward-looking statements.
CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
For further information:
Jim McGovern, Chief Executive Officer, QAT - 1-416-323-0477, firstname.lastname@example.org