FreshXtend Technologies Corp.

FreshXtend Technologies Corp.

November 28, 2007 14:58 ET

FreshXtend Announces Financial Results for the Quarter Ended September 30, 2007

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2007) - FreshXtend Technologies Corp. (TSX VENTURE:FXT) ("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 and at

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.

Contact Information

  • FreshXtend Technologies Corp.
    Roy Robinson
    (604) 322-0759
    (604) 322-0487 (FAX)