Unique Broadband Systems, Inc.

Unique Broadband Systems, Inc.

January 23, 2015 17:01 ET

Unique Broadband Systems, Inc. Reports First Quarter 2015 Results

TORONTO, ONTARIO--(Marketwired - Jan. 23, 2015) - Unique Broadband Systems, Inc. ("UBS") (TSX VENTURE:UBS.H) today reported its operating and financial results for the first quarter of fiscal 2015, ended November 30, 2014.

Recent operating and financial highlights (in thousands, except per share amounts) include:

  • UBS continues to operate under the court approved Company Creditors Arrangement Act.
  • UBS recorded a loss before comprehensive loss of $169, or $0.001 per share, for the three months ended November 30, 2014, compared to $234, or $0.002 per share, for the first quarter of 2013.
  • Fair value of shares in ONEnergy Inc. currently held by UBS decreased by $492 to $1,789, due to a decrease in ONEnergy's bid prices as at November 30, 2014 to $0.07 and $0.06 per multiple voting share and subordinate voting share respectively, compared to the respective bid prices as at August 31, 2014 of $0.085 and $0.08.
  • As at November 30, 2014, UBS held cash and short-term investments totaling $1,915, compared to $2,042 as at August 31, 2014.

For further information on UBS' financial results, please review UBS' unaudited condensed consolidated interim financial statements and management's discussion and analysis of financial condition and results of operations for the three months ended November 30, 2014 and 2013.

About Unique Broadband Systems, Inc.

UBS' shares are listed on the NEX under the symbol "UBS.H". More information on UBS can be found at www.sedar.com.

The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of UBS that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by UBS at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by UBS that actual results achieved will be the same in whole or in part as those forecast.

Neither the NEX nor its Regulation Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Unique Broadband Systems, Inc.
    Grant McCutcheon
    Chief Executive Officer
    (905) 660-8100