CPVC Financial Corporation
TSX VENTURE : LHB

April 30, 2009 19:17 ET

CPVC Financial Corporation Releases Third Quarter Financial Statements

MONTREAL, QUEBEC--(Marketwire - April 30, 2009) - CPVC Financial Corporation ("CPVC Financial") (TSX VENTURE:LHB) today released its audited consolidated financial statements for the year ended December 31, 2008.

The net loss for the year ended December 31, 2008 was $(2,537,467) or $(0.033) per share compared to net income of $3,540,844 or $0.037 at December 31, 2007.



SUMMARY OF INCOME STATEMENT INFORMATION

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Income Statement December 31, December 31,
2008 2007
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Revenues $(1,724,069) $ 4,735,979

Net earnings (loss) $(2,537,467) $ 3,540,844

Per share - basic $ (0.033) $ 0.037

Per share - diluted $ (0.033) $ 0.035

Weighted average shares outstanding -

Basic 75,993,616 77,950,447

Diluted 75,993,616 80,999,631
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SUMMARY OF CASH FLOWS INFORMATION

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Cash Flows December 31, December 31,
2008 2007
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Operating activities $ (237,827) $ 6,383

Investing activities $ (84,570) $ (104,118)

Financing activities $ 219,473 $ 415,219

Increase (decrease) in cash $ (102,924) $ 317,484

Cash - beginning of year $ 622,408 $ 304,924

Cash - end of year $ 519,484 $ 622,408
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SUMMARY OF BALANCE SHEETS INFORMATION

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Balance Sheets December 31, December 31,
2008 2007
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Cash and cash equivalents $ 519,484 $ 622,408

Total Assets $ 6,419,884 $ 8,020,256

Total Liabilities $ 2,405,791 $ 1,470,196

Share Capital $ 3,848,256 $ 6,575,676

Total Shareholders' Equity $ 4,014,093 $ 6,550,060

Total Liabilities & Shareholders' Equity $ 6,419,884 $ 8,020,256
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The Company's December 31, 2008 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

  • CPVC Financial Corporation
    Alain Lambert
    President
    (514) 395-1191