TORONTO, Feb. 28, 2012 /CNW/ - Quantitative Alpha Trading Inc. ("QAT", "the Company") today announced that its financial results for the year ended December 31, 2011, along with management discussion and analysis, have been filed on SEDAR.
QAT reported a net loss of $5,143,610 ($0.02 per share) for the year ended December 31, 2011 as compared to a net loss of $3,147,585 ($0.03 per share) for the year ended December 31, 2010. The change was mainly due to an increase in software amortization, share based compensation and salary and wages. "2011 was a transitional year that saw the Company starting to generate trading and licensing revenue late in the year", said James McGovern, Chief Executive Officer of QAT. "We are looking forward to executing on our strategic plan in the coming year to capitalize on the numerous opportunities we see in the marketplace."
At December 31, 2011, the Company had $1,203,430 (2010 - 174,530) of cash on hand and working capital of $956,936 (2010 - negative 304,162)
The annual audited 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, [email protected]