MONTREAL (Quebec), December 28 2007 – Alphinat Inc. (TSX-VN : NPA) today announced its results for the fiscal year ended August 31, 2007.
The 2007 fiscal year marked a turning point in the evolution of the Company. During this year, the Company moved from the research and development phase into commercialisation. The transition began with the hiring of an Executive Vice President of Sales and Business Development, on November 22, 2006.
The Company sold two licences during the fiscal year. The first of these, completed during the first quarter, was to a systems integrator partner and was valued at $150,000. The second sale, made during the third quarter, was to the Government of Québec for $1,012,000, including $75,000 in training and installation services. As a result of the latter agreement, the SmartGuide suite is now available to Government of Québec ministries and departments wishing to implement online solutions that give the public direct access to their services.
The company reported revenue of $341,060 for the fiscal year; sales balances are recorded as deferred revenue collected in advance. Of $851,750 in deferred revenue, $576,875 in sales licences will be recognized as revenue for the 2008 fiscal year. In addition, $262,500 in services will be recognized in accordance with the percentage-of-completion method.
While the financial statements indicate a loss of $890,969, cash flow for fiscal 2007 was positive, with $357,780 from operating activities.
Alphinat’s financial statements and Management’s Discussion and Analysis for the period ending August 31, 2007 can be found on SEDAR, at www.sedar.com.
At Alphinat, we are driven by the passion to make secure low-code/no-code application and portal development a reality and easier for everyone. We enable the people with the vision and process knowledge to create great finished applications that IT can more easily deploy in their secure environments. With SmartGuide we provide an easy to use low-code tool and derivative solutions such as SmartGuide for “Dynamics 365 targeted for G&Cs that meet the client’s most critical needs empowering all lines of business to leverage their own process knowledge and expertise to self-serve.
SmartGuide brings you new ways to empower the right people with tools for success at the right time in the application development process. At the same time, we are constantly working to reduce the need to code in order to make application development and maintenance simpler.
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 or derivative apps or engage us or one of our partners to do the work for you, we’re here to help you deploy secure applications in record time.
Alphinat provides a safe and secure workplace and remains an equal opportunity employer promoting our passion for productivity. With that mantra we have issued ourselves a challenge to find and promote the best minds and freely share ideas.
Certain statements in this document, including those which express management’s expectations or estimations with regards 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. These include, but are not limited to, the Company’s capacity to increase acceptance of its products on the market, and to penetrate new markets; the potential existence of defects or undetected problems in the Company’s products; the Company’s ability to manage its growth; the Company’s ability to compete with others; potential commitments; maintaining the Company’s intellectual property rights and defending against litigation putting those rights in question; the Company’s reliance on the knowledge of its key personnel; and the Company’s access to sufficient capital to finance its future needs. This is a partial and non-exhaustive list of factors that could bear on any of our 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. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.