Summus Capital Corp.
TSX VENTURE : SS.P

April 30, 2009 11:44 ET

Summus Capital Corp.: News Release

CALGARY, ALBERTA--(Marketwire - April 30, 2009) -

THIS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES PERSONS.

Mr. Jason Krueger, President, CEO and Director of Summus Capital Corp. (TSX VENTURE:SS.P) ("Summus" or the "Company") is pleased to report its financial and operating results for the year ended December 31, 3008.



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HIGHLIGHTS
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December 31 December 31
2008 2007
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Liquidity
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Cash $ 451,742 $ 104,992
Non-cash working capital (7,281) -

Total working capital 444,461 104,992
Debt - -
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Net liquidity $ 444,461 $ 104,992
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Total assets $ 457,772 $ 104,992

Number of shares outstanding at end of
period 3,514,300 1,050,000
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Year Ended Period Ended
Dec 31, 2008 Dec 31, 2007
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Total revenue $ 2,048 $ -
Funds used in operations $ (8,564) $ (8)
Net loss $ (41,950) $ (8)
Net loss per share $ (0.03) $ (0.00)
Basic and diluted weighted average number of
shares during period 1,626,057 1,050,000
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Results of Operations

As at December 31, 2008, Summus had no active operations. For the year ended December 31, 2008, the Company had a net loss of $41,950. The net loss is related to stock based compensation charges of $33,386 and minor administrative costs incurred during the period.

Outlook

The Company has commenced the identification and evaluation of assets or a business with the goal to acquire or participate therein to complete its qualifying transaction.

Reader Advisory

This news release may contain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, loss of markets, volatility of commodity prices, currency fluctuations, delays resulting from or an inability to obtain regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of the do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The TSX Venture Exchange has neither approved nor disapproved the contents of this new release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Summus Capital Corp.
    Jason Krueger
    President, CEO and Director
    (403) 374-1234