AdvantEdge Announces Operating Results for First Quarter 1996.CONCORD, Ontario--(BUSINESS WIRE)--Oct. 31, 1996--AdvantEdge (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). AII AII Auto ID Infrastructure AII Agence de l'Innovation Industrielle (French Agency for Industrial Innovation) AII Active Input Interface (used in UNI PMD specs for Copper/Fiber) AII ASEAN Information Infrastructure .)--AdvantEdge International Inc. ("AII") today announced its operating results for the three months ended Aug. 31, 1996. Revenues totalled $344,000, resulting in net income of $224,000. During the period, the company's share capital increased by $545,000 as a result of the completion of a private placement of $500,000 and $45,000 from the exercise of 450,000 options. Shareholders equity as of Aug. 31, 1996, totalled $2.1 million,the debt/equity ratio Debt/Equity Ratio A measure of a company's financial leverage calculated by dividing long-term debt by shareholders equity. It indicates what proportion of equity and debt the company is using to finance its assets. was 0.18:1, cash and short term investments stood at $584,000 and the working capital ratio was 5.75:1. Earlier this month, AII engaged Gordon Private Client Corporation to raise a further $5 million for working capital purposes and for expansion into additional markets. On Aug. 12, 1996, AII (formerly Ivy Capital Corporation) acquired all the issued and outstanding shares of AdvantEdge Products and Solutions Inc. ("AdvantEdge") and subsequently applied to the Alberta Securities Commission to change AII's fiscal year end from Oct. 31 to May 31, hence the issuance of first quarter results as at Aug. 31, 1996. However, comparative figures are not available as prior to Aug. 12, 1996, AdvantEdge was a private company and did not prepare quarterly financial statements. AdvantEdge International Inc. is a holding company whose wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. AdvantEdge Products and Solutions Inc. holds exclusive distribution rights, covering all of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and 19 countries in Asia, to certain sophisticated high technology products and systems for the monitoring and management of motor vehicle "fleet" operations. -0- The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. CONTACT: AdvantEdge Gary Perkins Born in 1937 in Abilene, Texas, Gary Perkins (July 14, 1937 - June 28, 1991) DJ, a man of major importance to the industry who began his radio career in 1957 at Midland Texas' KCRS where Roy Orbison and Buddy Holly used to drop their records off. , 905/479-2800 905/479-8608 (FAX) 1-888/205-2917 (Toll Free) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion