Cell-Loc Location Technologies Releases Financial Statements for Q2-2007
29 Agosto 2007 - 10:58PM
Marketwired Canada
Cell-Loc Location Technologies Inc. ("the Company") (TSX VENTURE:LTI) has
released its consolidated financial statements for the three months ended June
30, 2007. The quarter marked the achievement of significant milestones in the
commercial application of the Company's business model. Highlights for the
quarter include the following:
- Record installations of 11,074 beacons
- Gross billings of $1.4 million
- Net revenue recognized of $1.0 million
- Installed base of 24,000 beacons
- Initial billings for beacon renewals, commencing a revenue annuity stream
The financial statements along with management's discussion and analysis can be
found on the Company's website (www.cell-loc.com) and on SEDAR (www.sedar.com).
In addition, the company regrets to announce that Mr. Luiz de Campos Salles has
resigned from the Board of Directors effective August 28, 2007. Mr. Campos
Salles has served the Board since August 2006 and commented "My motives are of
an entirely personal nature. I was very honored to have served in this Board and
wish all the best to its members."
About Cell-Loc Location Technologies Inc.
Cell-Loc Location Technologies Inc. is the developer of a family of
network-based wireless location products that enable location-based services.
Located in Calgary, Alberta, CLTI currently develops, markets and supports its
patented wireless location technology in North and South America and Asia, with
a view to expanding globally. CLTI is listed on the TSX Venture Exchange under
the trading symbol: "LTI."
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Marketwire's free news service (www.marketwire.com).
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