June 06, 2007 NovaDX Announces Third Quarter Results
| NovaDX Ventures Corp, President & CEO, Neil MacDonald, reports: (Vancouver, BC, June 6, 2007) NovaDX Ventures Corp ("NovaDX") has released its third quarter fiscal 2007 financial statements for the nine month period ending March 31, 2007. The Company is pleased to announce its second consecutive quarter of profitability. Revenue for the quarter was $355,196, compared to $3,757 for the third quarter of 2006, and brings year-to-date revenue to $682,943. Net income for the period was $179,050. "During the third quarter of fiscal 2007 the Company continued to expand its new business as a merchant bank. We are pleased with our performance to date and expect it to continue in a positive direction," stated the Company's CEO, Neil MacDonald. "The addition of new investment capital resulting from closing our recent financing will allow us to exploit several new opportunities we have been cultivating over the past couple of months, which should further enhance our performance in the months ahead." A breakdown of Q3 results follows: (all figures in Canadian dollars and Canadian GAAP)
About NovaDX NovaDX is a leading, publicly traded merchant bank that provides capital investment, corporate finance, financial and business advisory services to small and micro-cap companies engaged in the exploration of natural resources, a largely overlooked but important sector of the equity markets. NovaDX currently has direct investments in a growing portfolio of early-stage companies engaged in mineral and oil & gas exploration which NovaDX believes have an above average opportunity to provide a high returns on investment through the discovery of new mineral deposits and petroleum reserves. NovaDX is growing its investment portfolio and merchant banking business through a combination of direct investment in targeted companies and through the acquisition of portfolio assets of flow-through limited partnerships, including those of Canadian Small Cap Resource Funds (www.cscrf.ca). ON BEHALF OF THE BOARD The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. For more information, please contact Neil MacDonald or Rick Peterson at 604-633-2776 or send us an email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . |
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You can view the Next NovaDX Corporate News item: Thu Jun 28, 2007, CSCRF 2007 No. 1 LP Announces Final Closing - $10.3 Million Raised For Flow-Through Investments You can view the Previous NovaDX Corporate News item: Tue May 29, 2007, NovaDX Closes $3,194,000 Private Placement |
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