MONTREAL (Quebec), July 29 2008 – Alphinat Inc. (TSX-VN : NPA) announces its interim financial results for the period ending May 31, 2008.
During the period ended May 31, 2008, the Company’s operations have focused on executing its strategic plan by implementing pilot projects with ministries and departments of the Quebec provincial government following their acquisition of a government-wide license.
For the 3-month period ended May 29, 2008, the Company recorded total revenue of $ 251,464 for net losses of $ 214,034 or $0.005 per outstanding common share. The revenue for the period under review results mainly from revenue recognition of the SmartGuide governmental license agreement with the government of Quebec.
Alphinat’s financial statements and Management’s Discussion and Analysis for the period ending May 31, 2008 can be found on SEDAR, at www.sedar.com.
As part of it’s implementation, Alphinat is pleased to announced it has won a first contract from the ministère du Revenu du Québec (MRQ) for an amount of $388,610. Through this agreement, MRQ will benefit from the support of the SmartGuide software experts at Alphinat for the implementation, evolution and use of this tool for the development of constituent-centric Internet services.
The MRQ, who has been awarded numerous prizes for the quality of its electronic services, is currently setting up a center of expertise dedicated to sharing their expertise with other ministries. Following the acquisition by the Quebec ministère des Services gouvernementaux of a government-wide license to use the Alphinat SmartGuide, the MRQ centre of expertise will offer the SmartGuide Suite as common service to Quebec government departments or agencies wishing to implement on-line solutions that will enable single-entry-point access to their various services.
Also, the board of directors of Alphinat has nominated Mr. Michel Lemoine as Chairman of the board and Mr. Curtis Page as Chief financial officer, both nominations are effective immediately. Mr. Curtis Page is also Chief Operating Officer of Alphinat. The wealth of experience of Mr. Lemoine and Mr. Page will complement the strength of management in achieving the Company’s objectives.
At Alphinat, we are driven by the passion to make application development easy for everyone. It always struck us as odd that the people with the vision of how a finished application should look and behave would only be involved at the start of the process. After all, what better way to ensure a favourable outcome than to provide those closest to an application’s end-users with a vested interest in its success throughout its development?
That’s why we bring you new ways to empower the right people at the right time in the application development process. At the same time, we’re constantly working to reduce the need to code in order to make application development and maintenance simpler and less error-prone.
So whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps or engage us or one of our partners to do the work for you, we’re here to help you deploy better applications in record time. Visit http://www.alphinat.com for more information. We look forward to hearing from you.
Certain statements in this document, including those which express management’s expectations or estimations with regard to the Company’s future performance, constitute “forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company’s Annual Report.