Black Hat Capital Inc.
TSX VENTURE : BHC.P

December 28, 2006 19:03 ET

Black Hat Capital Inc. Annual Financial Statements for the Year Ended September 30, 2006

CALGARY, ALBERTA--(CCNMatthews - Dec. 28, 2006) - Black Hat Capital Inc. (the "Company") (TSX VENTURE:BHC.P) today released its audited financial statements for the year ended September 30, 2006. The Company is a Capital Pool Company pursuant to Policy 2.4 of the TSX Venture Exchange and completed its initial public offering on December 22, 2004. The principal business of the Company is to identify and evaluate companies, assets or businesses with a view to completing a Qualifying Transaction, (as the term is defined in Policy 2.4).

The net loss for the year ended September 30, 2006 was $92,354 or ($0.026) per share (2005: loss of $54,640 or $0.017 per share).



SUMMARY OF INCOME STATEMENT INFORMATION

Income Statement September 30, September 30,
2006 2005
Net Income (loss) $ (92,354) $(54,640)
Per share - basic and diluted $ (0.026) $ (0.017)
Weighted average shares outstanding - basic 3,527,740 3,163,014

SUMMARY OF CASH FLOW INFORMATION

Cash Flow September 30, September 30,
2006 2005
Cash from operating activities $ (68,992) $ 16,456
Cash from investing activities $ (60,516) $(23,934)
Cash from financial activities $ 15,000 $194,064
Increase in cash and cash equivalents $(114,508) $186,586
Cash and cash equivalents - beginning of period $ 337,063 $150,477
Cash and cash equivalents - end of period $ 222,555 $337,063

SUMMARY OF BALANCE SHEET INFORMATION

Balance Sheet September 30, September 30,
2006 2005
Cash and cash equivalents $ 222,555 $337,063
Total assets $ 311,665 $369,466
Total liabilities $ 45,021 $ 25,468
Share capital $ 412,844 $394,064
Total shareholders' equity $ 266,644 $343,998
Total liabilities and shareholders' equity $ 311,665 $369,466


As at September 30, 2006, the Company had net working capital of $182,194.

The Company's audited September 30, 2006 financial statements may be viewed on SEDAR at www.sedar.com.



The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Black Hat Capital Inc.
    Anthony M. Croll
    (514) 399-9952