Alphinat Announces a Profit for Fiscal Year Ended August 31, 2013
December 10 2013 - 4:59PM
Marketwired
Alphinat Announces a Profit for Fiscal Year Ended August 31, 2013
MONTREAL, QUEBEC--(Marketwired - Dec 10, 2013) - Alphinat Inc.
(TSX-VENTURE:NPA) announces a profit for the fiscal year ended
August 31, 2013.
Over the past two years, Alphinat has gone through a significant
transformation, going from an R&D focus to commercialisation.
Furthermore, we have deliberately focused on increasing license
revenue while partnering with renowned service providers to ensure
high quality delivery of SmartGuide.
We are pleased to report that this strategy has resulted in the
Company's first full year of profitability. With revenue more than
doubling from Fiscal 2012 ($793,925) to Fiscal 2013 ($1,625,395)
and with costs remaining tightly under control, net earnings for
Fiscal 2013 amounted to $26,099, compared to a net loss of $787,783
for Fiscal 2012. For the fiscal year ended August 31, 2013,
Earnings before charges related to financing activities and
amortization amounted to $265,833.
Also, Alphinat Inc. announces that on December 9, 2013, the
company's Board of Directors granted stock options representing a
total of 230,000 common shares to key employees of the Company. The
exercise price on the options, which expire on December 9, 2018, is
$0.12.
Alphinat's financial statements and Management's Discussion and
Analysis for the period ending August 31, 2013 can be found on
SEDAR, at www.sedar.com.
About Alphinat
Software for the Smart Enterprise™ providing agility to leverage
existing IT assets and lower costs for a one-stop delivery tool of
Web and mobile enterprise applications from any back-end
system.
Alphinat has been appointed by technology company peers to
associate member at the Smart Cities Council
(www.smartcitiescouncil.com).
Alphinat technology could also be used in the healthcare,
banking, insurance, telecommunications and other sectors, in
modernising, automating and rendering cost-effective a number of
business processes at a fraction of the cost associated with
conventional customized solutions. For more details about Alphinat
or its software suite, please visit www.alphinat.com.
Forward-looking statements
Certain statements in this document, including those which
express management's expectations or estimations with regard to the
Company's future performance, constitute "forward-looking
statements" as understood by applicable securities laws.
Forward-looking statements are, of necessity, based on a certain
number of estimates and hypotheses; while management considers
these to be accurate at the time they are expressed, they are
inherently subject to significant uncertainties and risks on the
commercial, economic and competitive levels. We advise readers that
these forward-looking statements are subject to risks,
uncertainties, and other known and unknown factors that may cause
the actual results, performance or achievements of the Company to
be materially different from any future results, performance or
achievements expressed or implied in these forward-looking
statements. A number of factors could cause significant differences
between actual results and those described in forward-looking
statements. These include, but are not limited to, the Company's
and CCFL Capital's ability to find subscribers in connection with
the proposed private placement. This is only one of the factors
that could bear on any of our forward-looking statements. Investors
are advised to not rely unduly on the forward-looking statements.
This advisory applies to all forward-looking statements, whether
expressed orally or in writing, attributed to Alphinat or to any
individual expressing them in the name of the Company. Unless
required by law, the Company is under no obligation to publicly
update these forward-looking statements, whether to reflect new
information, future events, or other circumstances. Risks and
uncertainties that bear on the Company are described in greater
detail in the Company's Annual Report.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Mr. Philippe LecoqChief Executive OfficerAlphinat Inc.(514)
398-9799 ext 222
Alphinat (TSXV:NPA)
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