Welcome!

News Feed Item

E.G. Capital Inc. Announces Results for the Three Months Ended November 30, 2013

BROSSARD, QUEBEC -- (Marketwired) -- 01/29/14 -- E.G. Capital Inc. (TSX VENTURE: EGC.H), ("E.G. Capital"), formally National Construction Inc., today announces results for the three months ended November 30, 2013.

Comparison of the three months ended November 30, 2013 and November 30, 2012

Revenue was $nil for the three month period ended November 30, 2013 as compared to $nil for the same period last year.

Administrative Expenses were $27,935 for the three months ended November 30, 2013 as compared to $16,383 for the same period last year. For the three months ended November 30, 2013, the $27,935 included approximately $6,000 in professional and advisory expenses and approximately $22,000 in regulatory related filing expenses, consulting, and sundry administrative costs. For the three months ended November 30, 2012, the $16,383 included approximately $13,000 in professional and advisory expenses and approximately $3,000 in regulatory related filing expenses, consulting and sundry administrative costs.

The Corporation incurred interest and bank charges of $36 for the three months ended November 30, 2013 as compared to interest expense of $18 for the same period last year. The Corporation incurred a foreign currency exchange loss of $nil for the three months ended November 30, 2013 as compared to a foreign currency exchange loss of $nil for the same period last year.

As a result of the foregoing factors, the loss for the three months ended November 30, 2013 was $27,971 as compared to a loss of $16,401 for the same period last year.

Comparison of the nine months ended November 30, 2013 and November 30, 2012

Revenue was $nil for the nine month period ended November 30, 2013 as compared to $nil for the same period last year.

Administrative Expenses were $129,206 for the nine months ended November 30, 2013 as compared to $69,802 for the same period last year. For the nine months ended November 30, 2013, the $129,206 included approximately $94,000 in professional and advisory expenses and approximately $35,000 in regulatory related filing expenses, consulting, and sundry administrative costs. For the nine months ended November 30, 2012, the $69,802 included approximately $56,000 in professional and advisory expenses and approximately $14,000 in regulatory related filing expenses, consulting and sundry administrative costs.

The Corporation incurred interest and bank charges of $72 for the nine months ended November 30, 2013 as compared to interest expense of $54 for the same period last year. The Corporation incurred a foreign currency exchange loss of $1,134 for the nine months ended November 30, 2013 as compared to a foreign currency exchange loss of $nil for the same period last year.

As a result of the foregoing factors, the loss for the nine months ended November 30, 2013 was $130,412 as compared to a loss of $69,856 for the same period last year.

About E.G. Capital Inc.

The Corporation is an inactive company listed on the NEX board of the TSX Venture Exchange Inc ("the Exchange). The business of the Corporation is to identify and evaluate businesses or assets with a view to completing a reactivation transaction on the Exchange.

Following the sale of certain assets in February, 2005, the Corporation did not engage in any active business other than to preserve and/or convert into cash any assets remaining with the Corporation and to pursue future shareholder enhancing opportunities. The Corporation intends to review and pursue opportunities to unlock the value of its unrecorded future income tax assets.

On June 18, 2013, the Corporation entered into a reorganization and investment agreement with an individual resident in the Province of Ontario. Pursuant to this agreement, the Corporation has agreed to use its best efforts to complete the following: (i) the consolidation of the common shares on a 10 to 1 basis; (ii) a non-brokered private placement of up to 4,000,000 Units at a price of $0.05 per Unit for gross proceeds of a maximum of $200 000; (iii) the appointment of a new CEO; (iv) the appointment of new directors; and (v) a change of the name of the Corporation to Quantum International Income Corp.

Completions of the transactions are subject to standard closing conditions, including the approval of each of the Exchange and the shareholders of the Corporation.

The Corporation had a special shareholders' meeting on November 21, 2013 to consider the above matters, as well as to appoint directors and auditors. All matters were approved however the private placement has not yet closed.

This press release may contain forward-looking statements relating to the Corporation. Among the important factors that could cause actual results to differ materially from those indicated by such forward looking statements are competitive pressures, technical difficulties, market acceptance, changes in customer requirements, and general economic conditions, and other risks and uncertainties as described from time to time in Corporation's reports, registration statements and filings filed by the Corporation with securities regulatory authorities.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

Contacts:
E.G. Capital Inc.
William G. Edwards
CFO
(416) 565-0066

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
Cloud computing changed data analytics for good. It enabled companies to drastically decrease resources and architecture previously assigned with business intelligence departments. It also enabled laymen to run advanced business analytics. Cloud was also the architecture of choice for storing and processing big data. Data piling is a continuous process, which is going to explode with emerging Internet of Things concept. Answer to this issue developers found in new concept called fog computing. ...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will discuss the vast to...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...