MONTREAL, QUEBEC--(Marketwired - Dec. 10, 2013) - Alphinat Inc. (TSX VENTURE:NPA) announces a profit for the fiscal year ended August 31, 2013.
Over the past two years, Alphinat has gone through a significant transformation, going from an R&D focus to commercialisation. Furthermore, we have deliberately focused on increasing license revenue while partnering with renowned service providers to ensure high quality delivery of SmartGuide.
We are pleased to report that this strategy has resulted in the Company's first full year of profitability. With revenue more than doubling from Fiscal 2012 ($793,925) to Fiscal 2013 ($1,625,395) and with costs remaining tightly under control, net earnings for Fiscal 2013 amounted to $26,099, compared to a net loss of $787,783 for Fiscal 2012. For the fiscal year ended August 31, 2013, Earnings before charges related to financing activities and amortization amounted to $265,833.
Also, Alphinat Inc. announces that on December 9, 2013, the company's Board of Directors granted stock options representing a total of 230,000 common shares to key employees of the Company. The exercise price on the options, which expire on December 9, 2018, is $0.12.
Alphinat's financial statements and Management's Discussion and Analysis for the period ending August 31, 2013 can be found on SEDAR, at www.sedar.com.
Software for the Smart Enterprise™ providing agility to leverage existing IT assets and lower costs for a one-stop delivery tool of Web and mobile enterprise applications from any back-end system.
Alphinat has been appointed by technology company peers to associate member at the Smart Cities Council (www.smartcitiescouncil.com).
Alphinat technology could also be used in the healthcare, banking, insurance, telecommunications and other sectors, in modernising, automating and rendering cost-effective a number of business processes at a fraction of the cost associated with conventional customized solutions. For more details about Alphinat or its software suite, please visit www.alphinat.com.
Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company's and CCFL Capital's ability to find subscribers in connection with the proposed private placement. This is only one of the factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.