Colony Pacific: Second Quarter Report Six Months Ended April 30, 2000.Business Editors VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , B.C.--(BUSINESS WIRE)--June 29, 2000 Colony colony, any nonself-governing territory subject to the jurisdiction of a usually distant country. The term is also applied to a group of nationals who settle in a foreign country or territory but retain political or cultural connections with their parent state. Pacific Explorations Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CYX) reports revenues in the second quarter of $63,000 compared to $48,000 in the second quarter of 1999. Revenues in the first six months were $138,000 compared to $106,000 in the first six months of 1999. The net loss in the second quarter was $14,000 ($0.00 per share) compared to a net loss of $70,000 ($0.00 per share) in the prior year's quarter. Net income in the first six months was $73,000 compared to a net loss of $64,000 in the first six months of 1999. Cash and cash equivalents were $1.7 million on April 30, 2000 compared to $1.5 million on April 30, 1999. The Company remains debt free. The Board of Directors has resolved to conserve cash as much as possible while the Company evaluates new business opportunities. The search for a new business opportunity has taken longer than expected and the Company is now under review by Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. with respect to meeting the new continued listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. that became effective April 1, 2000. What this means for Colony is that it must spend at least $350,000 on either exploration or development work in order to comply with the new requirements. The Board of Directors has resolved that the Company make every effort to maintain its Toronto Stock Exchange listing by complying with the new continued listing requirements. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion