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.
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.