Friday, July 27, 2007
Jul. 27, 2007 (Canada NewsWire Group delivered by Newstex) -- HALIFAX, July 27 /CNW/ - SolutionInc Technologies Limited (TSX-VEN:STL), a leader in Internet management, provisioning and billing, announced today the release of its audited financial statements for the year ended March 31, 2007 (Fiscal 2007), including re-statement of its previously issued unaudited financial statements for periods ended June 30, 2006 (Q1 2007); September 30, 2006 (Q2 2007); and December 31, 2006 (Q3 2007).
The reported net loss for Fiscal 2007 represents an improvement of $1,205,621 over Fiscal 2006. The Company reported a net loss for the year ended March 31, 2007 of $562,296 compared to a loss of $1,767,917 for the previous year ended March 31, 2006. The full Financial Statements and Management Discussion and Analysis of Financial Condition of Results or Operations (MD&A) are available on www.sedar.com
'Our 'laser focus' strategy on our key customers and our primary markets is coming to fruition and we are gaining momentum. SolutionInc is focused on delivering world-class products, services and solutions to our customers. The Company is committed to the success of our customers and partners and to gaining new customers in the hospitality, Internet service provider and OEM markets,' said SolutionInc President and CEO Glen Lavigne.
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About SolutionInc
SolutionInc Limited simplifies Internet connectivity. SolutionInc's software system allows people with laptops to easily and securely connect to the Internet from a hotel room, a convention center, or any type of Wi-Fi hotspot. The system allows the property or broadband provider to register users, to bill for service and show the user targeted messages. The company provides software and services to the hospitality and telecommunications industries. SolutionInc is recognized as one of the leaders of Internet connectivity and hotspot management.
SolutionInc is a trademark and a wholly owned subsidiary of SolutionInc Technologies Limited (TSX-VEN:STL). All other trademarks are the property of their respective holders. For more information visit www.solutioninc.com
SolutionInc Disclaimer: This press release may contain forward-looking statements involving the company's expectations about future financial results and other matters. These statements reflect management's current forecast of certain aspects of the company's future business. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results of operations to differ materially from historical results or current expectations. The words 'plan', 'expect', 'believe', 'intend', 'anticipate', 'forecast', 'target', 'estimate' and similar expressions identify forward-looking statements. Risk factors include shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to SolutionInc's most recent reports filed with the TSX venture exchange and located at www.sedar.com for a more complete discussion of the other risks and uncertainties. The factors underlying forecasts speak only as of the date they are given and do not necessarily reflect the company's outlook at any other point in time. The company does not undertake to update or review these forward-looking statements.
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