Stonecliffe Capital Inc.
TSX VENTURE : SNT.P

May 31, 2006 19:41 ET

Stonecliffe Release March 31, 2006 Financial Statements

CALGARY, ALBERTA--(CCNMatthews - May 31, 2006) -

(Not for dissemination in the United States of America)

Stonecliffe Capital Inc. ("Stonecliffe") (TSX VENTURE:SNT.P) released today its interim financial statements for the period ended March 31, 2006. 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)

March 31, December 31,
2006 2005
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ASSETS

Current assets:
Cash $ 310,916 $ 337,370
GST receivable 1,852 1,542
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312,768 338,912

Deferred costs 13,032 13,032
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$ 325,800 $ 351,944
---------- ------------
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LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
Accounts payable $ 4,000 $ 15,477

Shareholders' equity:
Share capital 419,870 419,870
Contributed surplus 9,280 9,280
Deficit (107,350) (92,683)
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321,800 336,467
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$ 325,800 $ 351,944
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STONECLIFFE CAPITAL INC.
(INTERIM STATEMENT OF OPERATIONS AND DEFICIT
(Unaudited)

Three Months Year Ended
Ended December 31,
March 31, 2006 2005
--------------- ------------

Expenses:
Interest and bank charges $ - $ 163
Professional fees 14,672 80,856
Stock compensation - 9,280
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Net loss before the following item (14,672) (90,299)

Other income
Interest 5 616

--------------- ------------
Net loss (14,667) (89,683)
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Deficit, beginning of period (92,683) (3,000)
--------------- ------------
Deficit, end of period $ (107,350) $ (92,683)
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Stonecliffe's March 31, 2006, 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