Colony Pacific Explorations Ltd.: Fiscal 2000 Financial Results.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--March 16, 2001 ColonyPacific (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CYX.) Colony Pacific Explorations Ltd. reports that revenues for the fiscal year ended October 31, 2000 increased to $399,000 compared to $252,000 in 1999, reflecting higher oil and gas prices. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increased to $271,000 from $174,000 in the previous year. Net income was 141,000 ($0.01 per share) compared to a net loss of $33,000 in 1999 ($0.00 per share). Cash provided by operations in fiscal 2000 was $118,000, compared to $42,000 in the previous fiscal year. Working capital at year-end was $1,431,000 compared to $1,555,000 in 1999. ANNUAL GENERAL MEETING POSTPONED Upon completion of the forthcoming amalgamation amalgamation /amal·ga·ma·tion/ (ah-mal´gah-ma´shun) trituration (3). amalgamation ( of Colony and 628916 Alberta Ltd., operating as zed.i solutions ("zed.i"), which was approved by the shareholders of both Colony and zed.i on February 12, 2001, Colony and zed.i will be continued as a new company under the name "zed.i solutions inc.". At that time, the annual general meeting requirements of the amalgamated a·mal·ga·mate v. a·mal·ga·mat·ed, a·mal·ga·mat·ing, a·mal·ga·mates v.tr. 1. To combine into a unified or integrated whole; unite. See Synonyms at mix. 2. company will replace the annual general meeting requirements of Colony. Accordingly, Colony has applied for and received permission from regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities to postpone post·pone tr.v. post·poned, post·pon·ing, post·pones 1. To delay until a future time; put off. See Synonyms at defer1. 2. To place after in importance; subordinate. Colony's annual general meeting until July 20, 2001. The postponed meeting will only be held in the unlikely event that the amalgamation of Colony and zed.i, which remains subject to regulatory approval, is not completed by then. |
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