Canadian Public Venture Finance I Inc.
TSX VENTURE : NNN.P

August 29, 2005 18:53 ET

Canadian Public Venture Finance I Releases Financial Statements for the Second Quarter Ended June 30, 2005

MONTREAL, QUEBEC--(CCNMatthews - Aug. 29, 2005) - Canadian Public Venture Finance I Inc. ("Finance I") (TSX VENTURE:NNN.P) today released its unaudited financial statements for its second quarter ended June 30, 2005. The Company is a capital pool company which completed its initial public offering in April 2004.

The net loss for the second quarter ended June 30, 2005 was $351.



SUMMARY OF INCOME STATEMENT INFORMATION
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Income Statement June 30, 2005 June 30, 2004
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Interest (income) $ 8,395 $ 7,091
Net income (loss) ($ 351) ($ 19,943)
Per share - basic and diluted ($ 0.000) ($ 0.002)
Weighted average shares outstanding
- basic 9,700,000 8,974,725
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SUMMARY OF CASH FLOW INFORMATION
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Cash Flow June 30, 2005 June 30, 2004
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Cash from operating activities $ (5,547) $ (9,370)
Cash from investing activities $ (31,473) $ 0
Cash from financing activities $ 0 $ 627,404
Increase (decrease) in cash and cash $ (37,020) $ 618,034
equivalents
Cash and cash equivalents
- beginning of period $1,711,658 $1,135,905

Cash and cash equivalents
- end of period $1,674,638 $1,753,939
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SUMMARY OF BALANCE SHEET INFORMATION
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Balance Sheet June 30, 2005 December 31, 2004
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Cash and cash equivalents $1,674,638 $1,738,734
Total Assets $1,763,173 $1,745,434
Total Liabilities $ 34,263 $ 6,945
Share capital $1,778,288 $1,778,288
Total Shareholders' Equity $1,728,910 $1,738,489
Total Liabilities & Shareholders' Equity $1,763,173 $1,745,434
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The Company's June 30, 2005 unaudited financial statements may be viewed on SEDAR at www.sedar.com

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

Contact Information

  • Canadian Public Venture Finance I Inc.
    Alain Lambert
    President
    (514) 392-9419