Black Hat Capital Inc.
TSX VENTURE : BHC.P

February 26, 2007 13:42 ET

Black Hat Capital Inc.: First Quarter Financial Statements for Period Ended December 31, 2006

CALGARY, ALBERTA--(CCNMatthews - Feb. 26, 2007) - Black Hat Capital Inc. (the "Company") (TSX VENTURE:BHC.P) today released its unaudited financial statements for the Company's First Quarter ended December 31, 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 and commenced trading on the TSX Venture Exchange on January 6, 2005.

The net loss for the three-month period ended December 31, 2006 was $6,722 or ($0.002) per share.



SUMMARY OF INCOME STATEMENT INFORMATION

Income Statement December 31, 2006 December 31, 2005
(Three Months) (Three Months)
Net Income (loss) $ (6,722) $ (6,521)
Per share - basic and diluted $ (0.002) $ (0.002)
Weighted average shares outstanding
- basic 3,575,000 3,500,000


The Company had interest income of $1,792 for the quarter ended December 31, 2006. The major expenses incurred during the quarter related to professional fees ($1,060), share transfer and listing fees ($5,596) and office and general ($1,800).



SUMMARY OF CASH FLOW INFORMATION

Cash Flow December 31, 2006 December 31, 2005
(Three Months) (Three Months)
Cash from operating activities $ (13,036) $ (14,272)
Cash from investing activities $ (43,136) $ (31,838)
Cash from financial activities $ 0 $ 0
Increase in cash and cash
equivalents $ (56,172) $ (46,110)
Cash and cash equivalents -
beginning of period $ 222,555 $ 337,063
Cash and cash equivalents -
end of period $ 166,383 $ 290,953

SUMMARY OF BALANCE SHEET INFORMATION

Balance Sheet December 31, 2006 September 30, 2006
Cash and cash equivalents $ 166,383 $ 222,555
Total assets $ 300,606 $ 311,665
Total liabilities $ 40,684 $ 45,021
Share capital $ 412,844 $ 412,844
Total shareholders' equity $ 259,922 $ 266,644
Total liabilities and shareholders'
equity $ 300,606 $ 311,665


As at December 31, 2006, the Company had net working capital of $132,336.

The Company's unaudited December 31, 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