Home - Yahoo! - Help
[ Business | US Market | By Industry | IPO | AP | S&P | International | PRNews | BizWire ]
Tuesday April 6, 10:17 am Eastern Time
Company Press Release
ALYA Audited Financials Completed
VANCOUVER, British Columbia--(BUSINESS WIRE)--April
6, 1999--ALYA International, Inc. (OTC BB:ALYA) (''the
Company'') is pleased to announce the release of its audited
financial statements for its September 30, 1998 year-end. Highlights of these are as follows:
CONSOLIDATED BALANCE SHEETS (Expressed in U.S. dollars)
As at September 30, 1998 and 1997
1998 1997
$ $
Current assets 224,974 139,213
Capital assets 56,023 112,782
------- -------
280,997 251,995
======= =======
Current liabilities 400,379 723,857
Share capital 5,494,092 2,969,459
Accumulated deficit (5,674,327) (3,450,866)
Cumulative translation adjustment 60,853 9,545
------ -----
280,997 251,995
======= =======
CONSOLIDATED STATEMENTS OF OPERATIONS (Expressed in U.S. dollars)
For the years ended September 30, 1998 and 1997
1998 1997
$ $
Sales 323,737 110,878
Cost of sales 187,429 60,893
------- -------
Gross margin 136,305 79,985
------- -------
General and administrative 1,341,853 1,588,760
Research and development 545,502 583,872
Marketing and selling 471,380 200,323
------- -------
Loss from operations (2,222,430) (2,322,970)
Interest expense 1,031 234,870
------- -------
Loss for the year (2,223,461) (2,557,840)
=========== ===========
Loss per common share (0.19) (0.32)
====== ======
Weighted average number
of common shares 11,733,903 8,009,178
========== =========
The Company has no long term debt and only $400,000 in current liabilities.
During the year, ALYA financed its operations from private sales of its equity securities
($1,398,000) and by sales of certain software rights (net $724,000). The overall result was a
$59,000 increase in the cash position of the Company.
ALYA is in the process of becoming a fully reporting entity with the Securities and Exchange
Commission and expects this process to be completed during calendar 1999.
The Company now has 45 employees and is rapidly changing its focus from a development to a
marketing company. ALYA expects a significant increase in sales revenue this year as the building
automation integrators around the world that have become ALYA distributors begin to deliver on
previous sales commitments. In addition, the Company will implement a distribution strategy based
on established security integrators and OEM relationships. A U.S. sales force is being established
and will be backed up by a presence in the largest US Security Trade Show, ASIS in Las Vegas in
September.
ALYA International, Inc. is a leader in the development of software and hardware for intelligent
building control and security systems and is based in Vancouver, Canada with offices in Austin,
Texas; Antwerp, Belgium; and Beijing, China. ALYA International is listed on the OTC bulletin
board under the symbol ALYA.
Safe Harbor Act Disclaimer:
This release may contain forward-looking statements that involve risks and uncertainties including,
without limitation, continued acceptance of the company's products and services, increased levels
of competition, new products and technological changes, the company's dependence upon
financing, third-party suppliers and intellectual property rights, and other risks detailed from time to
time in the company's federal filings, annual report, offering memorandum or prospectus.
Contact:
ALYA International, Inc.
Dale Paruk, 888/595-6444
Email: stock@alya.com
Website: www.alya.com
More Quotes and News:
Alya International Inc (OTC BB:ALYA - news)
Related News Categories: computers, construction, earnings
Help
Copyright © 1999 Business Wire. All rights reserved. All the news releases provided by Business Wire 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 ina public database, redistributing via a computer network or in a printed
form.
See our Important Disclaimers and Legal Information.
Questions or Comments?
|
