MicroPlanet Reports 2012 Q2 Results
16 Agosto 2012 - 3:00AM
PR Newswire (Canada)
Company: MicroPlanet Technology Corp. Stock Listing: MP:TSXV Stock
Listing (US): MCTYF: OTC Web Site: www.microplanet.com WOODINVILLE,
WA, Aug. 15, 2012 /CNW/ - - MicroPlanet Technology Corp.
("MicroPlanet" or the "Company") a provider of smart grid
technology which significantly increases efficiency, quality, and
conservation of electricity, today reported interim unaudited
consolidated financial results for the three-month period ended
June 30, 2012 (the "Quarter"). All dollar figures are reported in
U.S. currency, unless otherwise stated. "Subsequent to the quarter
end MicroPlanet finally achieved CSA, EN, and UL certifications TUV
SUD America Inc. for multiple models of its flagship
category-changing product line. This is the culmination of several
years' hard work by our dedicated staff and the continuing support
of our stakeholders. These certifications permit the
installation of these units and open up market opportunities in
North America, Europe, Australia and elsewhere," stated Brett
Ironside, MicroPlanet President and CEO. "To achieve these
certifications we had discontinued sales and distribution efforts
of legacy pilot products in order to focus all our efforts on
getting this new product suite certified and ready for commercial
markets, and minimizing warranty and support liabilities for legacy
or interim products." Ironside continued, "With these initial
certifications we have already re-focused our team on getting
several of each of these new units assembled in a pre production
run so that we can have several installed with targeted clients
prior to year end. This product line will deliver on the key
aspects of our value proposition - bi directionality, full data,
improved power quality, and reduced costs; leading to testimonial
sales in the coming quarters, followed by meaningful sales to these
and additional customers thereafter." Financial Highlights Existing
convertible notes in the amount of $1,979,351 were extended until
December 31, 2013. The company issued a further $782,626 of
convertible notes. Sales and Costs of Goods in the Quarter were Nil
as the company transitions to the new product suite. The
comprehensive loss was $518,531 or $0.005 per share (basic and
diluted) compared to a comprehensive loss of $1,071,773 or $0.02
loss per share (basic and diluted) in the same Prior Year Quarter.
The financial statements for the Company were prepared using
International Financial Reporting Standards ("IFRS"), in accordance
with Canadian Accounting Standards Board and securities regulatory
commission requirements. Results for the Quarter are unaudited.
MicroPlanet's financial information for the three-month periods
ended June 30, 2012 and 2011, along with the accompanying
Management's Discussion and Analysis for the same period is
available on SEDAR (www.sedar.com and company's website at
www.microplanet.com.
___________________________________________________________________
|Income Statement (unaudited) |3-months ending|3-months ending|
|(US$) | June 30, 2012 | June 30, 2011 |
|___________________________________|_______________|_______________|
|Revenue | $ 0 | $ 145,944 |
|___________________________________|_______________|_______________|
|Gross Margin | $ 0 | $ (49,332) |
|___________________________________|_______________|_______________|
|Net Income (Loss) | $ (518,531) | $ (1,071,773) |
|___________________________________|_______________|_______________|
|Basic and diluted income (loss) per| $ (0.005) | $ (0.02) | |share
| | |
|___________________________________|_______________|_______________|
|Weighted average shares outstanding| 103,402,097 | 70,764,349 |
|___________________________________|_______________|_______________|
About MicroPlanet Technology Corp. MicroPlanet Technology Corp.
solutions improve power quality and save energy by dynamically
managing incoming voltage to a home or business through the use of
patented, advanced power electronics. MicroPlanet's technology has
been deployed in seven countries by more than 20 utilities, the U.S
military and multiple commercial customers to save energy, improve
power quality and grid efficiency and to facilitate the integration
of renewable energy sources, including solar and wind. MicroPlanet
is based in Seattle, WA and is listed on the TSX Venture
Exchange trading under the stock symbol: MP. www.microplanet.com.
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL
FUTURE RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE
RISKS, UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN,
THAT COULD INFLUENCE ACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE
THOSE DESCRIBED IN DOCUMENTS FILED WITH REGULATORY AUTHORITIES,
SUCH AS THE COMPANY'S MOST RECENTLY FILED ANNUAL AND QUARTERLY
REPORTS. ACCORDINGLY, NO ASSURANCES CAN BE GIVEN THAT ANY OF
THE EVENTS ANTICIPATED BY THE FORWARD-LOOKING STATEMENTS WILL
TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO, WHAT BENEFITS THE
COMPANY WILL DERIVE THEREFROM. NEITHER TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THE TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE. MicroPlanet Technology
Corp. CONTACT: MicroPlanet Investor Relations:Dave Burwell / Grant
Howard The Howard Group Ph: 888-221-0915 Fax: 403-237 8387
info@howardgroupinc.com www.howardgroupinc.comMicroPlanet Company
Contacts:Brett Ironside President & Chief Executive Officer
Tel: 425-984-2740 Fax: 425-984-2760 bironside@microplanet.com
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