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
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence a...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
yperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let’s say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it....
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that’s no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, will explore how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He wi...
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, discussed new ways of thinking and the approaches needed to address the emerging challenges of security i...
Docker containers have brought great opportunities to shorten the deployment process through continuous integration and the delivery of applications and microservices. This applies equally to enterprise data centers as well as the cloud. In his session at 20th Cloud Expo, Jari Kolehmainen, founder and CTO of Kontena, discussed solutions and benefits of a deeply integrated deployment pipeline using technologies such as container management platforms, Docker containers, and the drone.io Cl tool. H...
Cloud adoption is often driven by a desire to increase efficiency, boost agility and save money. All too often, however, the reality involves unpredictable cost spikes and lack of oversight due to resource limitations. In his session at 20th Cloud Expo, Joe Kinsella, CTO and Founder of CloudHealth Technologies, tackled the question: “How do you build a fully optimized cloud?” He will examine: Why TCO is critical to achieving cloud success – and why attendees should be thinking holistically ab...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, will discuss th...
An increasing number of companies are creating products that combine data with analytical capabilities. Running interactive queries on Big Data requires complex architectures to store and query data effectively, typically involving data streams, an choosing efficient file format/database and multiple independent systems that are tied together through custom-engineered pipelines. In his session at @BigDataExpo at @ThingsExpo, Tomer Levi, a senior software engineer at Intel’s Advanced Analytics ...
SYS-CON Events announced today that Datera will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera offers a radically new approach to data management, where innovative software makes data infrastructure invisible, elastic and able to perform at the highest level. It eliminates hardware lock-in and gives IT organizations the choice to source x86 server nodes, with business model option...
"Cloud computing is certainly changing how people consume storage, how they use it, and what they use it for. It's also making people rethink how they architect their environment," stated Brad Winett, Senior Technologist for DDN Storage, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...