MONTREAL (Quebec), July 16, 2009 - Alphinat Inc. (TSX Venture: NPA) announces its interim financial results for the quarter ending May 31, 2009.
During the quarter ended May 31, 2009, the Company's operations have focused on the marketing of SmartGuide™, its flagship product, and related professional services.
Alphinat continued to consolidate its position as an eGovernment software supplier of the Quebec government by assisting various agencies and departments in deploying government services targeted at citizens and entrepreneurs. However, during period under review, the attributions of many projects were delayed due to the Quebec provincial elections in December 2008 and the global economic downturn.
Alphinat also concentrated its sales efforts in Europe, announcing that three leading European systems integrators had retained the Company's SmartGuide™ suite in order to respond to an important and significant call for public tenders issued by the French government that closed May 4, 2009.
Alphinat continues to pursue its strategic focus on the Government of Québec and prospect in new markets through partnerships.
For the 3-month period ended May 31, 2009, the Company recorded total revenue of $164,112 for net losses of $200,132 or $0.006 per outstanding common share. The revenue for the period under review results from projects that have been delivered to ministries and departments of the Quebec government as well as from European contracts.
Alphinat's financial statements and Management's Discussion and Analysis for the period ending May 31, 2009 can be found on SEDAR, at www.sedar.com.
Also, Alphinat Inc. announces that on July 15, 2009, the company’s Board of Directors granted stock options representing a total of 250,000 common shares to one of its directors and one of its officers. The exercise price on the options, which expire on July 15, 2014, is $0.10. An officer of the company has voluntarily cancelled 150 000 stock options in order to give Alphinat more leeway with respect to management of its authorized stock option plan.
Alphinat Inc. develops, markets and supports software technology that enables non-technical managers to configure and deploy Web applications and utilities to helps organisations and governments better serve clients. This technology uses sophisticated data organisation and processing software to automate interactions between systems, employees, clients, suppliers and partners. The software is ubiquitous across organisational entities and information processing platforms, permitting a high level of collaboration in delivering complex service outcomes using existing legacy systems.
Alphinat technology could also prove useful to the healthcare, banking, insurance, and telecommunications sectors, in modernising, automating and rendering cost-effective a number of business processes at a fraction of the cost associated with conventional customized solutions. For more details about Alphinat or its software suite, please visit www.alphinat.com.
Contacts
Mr. Philippe Lecoq
CEO
Alphinat Inc.
+1 (514) 398-9799 ext. 222