FreshXtend Announces Financial Results for the Quarter Ended September 30, 2007
29 11월 2007 - 4:57AM
Marketwired
VANCOUVER, BRITISH COLUMBIA ("FreshXtend" or "the Company")
announced financial results for the quarter ended September 30,
2007 ("Q3-2007"). Highlights (which are all in US Dollars unless
stated otherwise) are as follow:
- Revenue for the quarter ended September 30, 2007 was $560,314,
compared to revenue of $359,928 in the quarter ended September 30,
2006. The increase in revenue was the result of substantially
higher antioxidant sales.
- Total operating expenses were $639,234 in Q3-2007, compared to
operating expenses of $603,555 in Q3-2006. The single most
important factor contributing to the increase in operating expenses
was a foreign exchange expense in Q3-2007 of $35,931 (Q3-2006:
$4,810), due to the significant appreciation of the Canadian dollar
compared to the US dollar, recorded as of September 30, 2007.
- The operating loss recorded by the Company in Q3-2007 was only
$78,920, compared to an operating loss of $243,627 in Q3-2006. Net
loss after litigation expenses was $129,852 in Q3-2007, compared to
net loss of $285,697 in Q3-2006.
- YTD the Company has recorded an operating loss of $309,447 and
a net loss of $463,758, compared to an operating loss of $406,086
and a net loss of $448,156 in the nine months ended September 30,
2006.
- The Company held cash of $498,658 and had working capital of
$245,288 at September 30, 2007.
The information in this news release should be read in
conjunction with the Company's Consolidated Financial Statements
and Management Discussion and Analysis for the quarter and nine
months ended September 30, 2007 and the Company's Audited
Consolidated Financial Statements and Management Discussion and
Analysis for the year ended December 31, 2006, which will be
available at the Company's website at www.freshxtend.com and at
www.sedar.com.
FreshXtend Technologies Corp.,
Roy Robinson, Director
FreshXtend is a leading provider of life extension technology to
the high growth Fresh Produce and Flower Industry and uses its
technological leadership to pursue licensing opportunities. The
Company's patented technologies naturally place produce in a state
of hibernation while it is being shipped, and extends the shelf
life of fresh produce, flowers and juices, thereby enabling
economic distribution of premium quality vine-ripened fruit and
vegetables. The Company has a network of R&D relationships,
which include the University of British Columbia and focuses on
building features that will appeal to FreshXtend's customers. The
Company continues to pursue licensing opportunities through
grower/processor channels as a way of maximizing the distribution
for its technologies.
Trading symbol: FXT (TSX-V)
Manual Listing S & P's Industrial & Int'l, 12g (3)b
Exemption: #82-2190
The statements in this news release may contain certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Exchange Act of 1934
and are subject to the safe harbour created by these sections.
Actual results may differ materially from the Company's
expectations.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this news release.
Contacts: FreshXtend Technologies Corp. Roy Robinson Director
(604) 322-0759 (604) 322-0487 (FAX) Website: www.freshxtend.com
Freshxtend Tech Corp (TSXV:FXT)
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Freshxtend Tech Corp (TSXV:FXT)
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