TDZ Holdings Inc.

May 17, 2012 12:40 ET

TDZ Holdings Inc.-Results for the Three Months Ended March 31, 2012

TORONTO, ONTARIO--(Marketwire - May 17, 2012) - TDZ HOLDINGS INC., today announced its results for the three months ended March 31, 2012.

Overview

TDZ Holdings Inc. (the "Company") was formed under the Business Corporations Act (Ontario) upon amalgamation on April 28, 1999.

Summary of Results

Net loss for the three months ended March 31, 2012 was $9,000 ($0.00 per share) on revenues of $9,000 as compared to a net income of $4,000 ($0.00 per share) on revenues of $9,000 for the three months ended March 31, 2011.

Net decrease in cash was $4,000 ($0.00 per share) during the three months ended March 31, 2012 as compared to a net increase in cash of $2,000 ($0.00 per share) during the three months ended March 31, 2011.

Other Matters

On May 14, 2012, the Board of Directors decided to seek shareholder approval to proceed with the voluntary dissolution of the Company (the "Dissolution") and the distribution of its net assets, after satisfying all of its ordinary course debts, obligations and liabilities. The Dissolution of the Company is subject to shareholder approval.

Forward-looking Statements

This document contains forward-looking statements that are based on current expectations, estimates and projections of management of the Company. These forward-looking statements are subject to a number of unknown risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those expressed or implied by the forward-looking statements contained in this document. These forward-looking statements are made as of the date of this document and, subject to certain legal requirements, the Company is under no obligation to, and does not intend to, update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. All forward-looking statements attributable to the Company are expressly qualified by these cautionary statements.

Contact Information

  • TDZ Holdings Inc.
    Mr. Harvey Fruitman
    Executive Vice President, Secretary,
    and Chief Financial Officer
    (416) 661-9290