Sabrich Capital Corporation
TSX VENTURE : SBH.P

March 14, 2007 19:17 ET

Sabrich Capital Corporation Releases First Quarter Financial Statements

CALGARY, ALBERTA--(CCNMatthews - March 14, 2007) - Sabrich Capital Corporation ("Sabrich") (TSX VENTURE:SBH.P) released today its unaudited financial statements for its 92 day period ended December 31, 2006.



The net loss for the period ended December 31, 2006 was $9,781.

SUMMARY OF INCOME STATEMENT INFORMATION

----------------------------------------------------------------------------
Income Statement December 31, 2006
----------------------------------------------------------------------------
Total Revenue NIL
Expenses 9,781
Net income (loss) for period (9,781)
Per share - basic and diluted (0.004)
Weighted average shares outstanding - basic 2,300,000
----------------------------------------------------------------------------

SUMMARY OF CASH FLOW INFORMATION

----------------------------------------------------------------------------
Cash Flow December 31, 2006
----------------------------------------------------------------------------
Cash from operating activities $ (38,144)
Cash from investing activities $ -
Cash from financing activities $ -
Change in cash and cash equivalents $ (38,144)
Cash and cash equivalents - beginning of period $ 114,995
Cash and cash equivalents - end of period $ 76,851
----------------------------------------------------------------------------

SUMMARY OF BALANCE SHEET INFORMATION

----------------------------------------------------------------------------
Balance Sheet December 31, 2006
----------------------------------------------------------------------------
Cash and cash equivalents $ 76,851
Total Assets $ 106,834
Total Liabilities $ 1,615
Share capital $ 115,000
Total Shareholders' Equity $ 105,219
Total Liabilities & Shareholders' Equity $ 106,834
----------------------------------------------------------------------------


RESULTS OF OPERATIONS

The Corporation is classified as a "Capital Pool Company" for the purposes of the policies of the TSX Venture Exchange. The Corporation completed its initial public offering on February 5, 2007 at which time the Corporation was approved for public trading and thereafter has traded under the symbol 'SBH'. As a Capital Pool Company, the Corporation's current business is to identify and evaluate businesses and assets with a view to completing a "Qualifying Transaction". The Corporation has not commenced commercial operations, has not identified any potential Qualifying Transactions and has no assets other than a minimum amount of cash.

Except as described in the Corporation's Prospectus dated November 21, 2006, the funds raised pursuant to the Corporation's initial Public Offering (the "Offering") and any subsequent financing raised prior to the Qualifying Transaction are intended to be utilized only for the identification and evaluation of potential Qualifying Transactions and not for any deposit, loan or direct investment in a potential acquisition.

As at December 31, 2006 the Corporation had no active operations. For the period from incorporation on August 11, 2006 to December 31, 2006 the Corporation had expenses of $9,781 for a net loss of $9,781 primarily related to accounting professional fees.

Further Information related to the Corporation, including the company's December 31, 2006 Financial statements and Management Discussion and Analysis for the period ending December 31, 2006, is filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") and can be reviewed at www.sedar.com.

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

Contact Information

  • Sabrich Capital Corporation
    Michael Rousseau
    (403) 816-1947