Stonecliffe Capital Inc.
TSX VENTURE : SNT.P

August 29, 2005 19:33 ET

Stonecliffe Capital Inc.: Financial Statements

CALGARY, ALBERTA--(CCNMatthews - Aug. 29, 2005) -

(Not for dissemination in the United States of America)

Stonecliffe Capital Inc. (TSX VENTURE:SNT.P) ("Stonecliffe") released today its unaudited financial statements for its quarter ended June 30, 2005. Stonecliffe is a capital pool company proposing to identify and evaluate corporations for possible acquisition.



Summary of Balance Sheet Information

STONECLIFFE CAPITAL INC.
BALANCE SHEET
(Unaudited)

June 30, March 31,
----------- -----------
2005 2005
------ ------
ASSETS

Current assets:
Cash $ 375,699 $ 424,060
GST receivable 7,856 4,362
----------- -----------
383,555 428,422

Deferred costs 11,234 -
----------- -----------
394,789 428,422
----------- -----------
----------- -----------


LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
Accounts payable $ 25,743 $ 15,667

Shareholders' equity:
Share capital (Note 3) 445,047 430,401
Contributed surplus 9,280 -
Deficit (85,281) (17,646)
----------- -----------
369,046 412,755
----------- -----------
$ 394,789 $ 428,422
----------- -----------
----------- -----------


Net loss for the period ended June 30, 2005, was $67,635.


STONECLIFFE CAPITAL INC.
INTERIM STATEMENT OF OPERATIONS AND DEFICIT
(Unaudited)

June 30, March 31,
2005 2005

PERIOD ENDED (6 Months) (3 months)
----------- -----------
Expenses:
Interest and bank charges $ 134 -
Legal 10,523 -
Professional fees 48,314 14,646
Stock compensation 9,280
----------- -----------

Net loss before the following item (68,251) (14,646)

Other income
Interest 616 -

----------- -----------
Net loss (67,635) (14,646)
----------- -----------

Deficit, beginning of period (17,646) (3,000)
----------- -----------
Deficit, end of period $ (85,281) $ (17,646)
----------- -----------
----------- -----------




Stonecliffe's June 30 , 2005, financial statements may be viewed on SEDAR www.sedar.com.

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

Contact Information

  • Stonecliffe Capital Inc.
    Keith Prosser
    President
    (403) 298-0642