We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Engineering.Com Incorporated | TSXV:EGN | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
From Jul 2019 to Jul 2024
ENGINEERING.com revenue was $1,433,566 for the fiscal year 2009, compared to revenue of $1,444,768 for the year 2008. Revenue for the three months ended December 31, 2009 was $489,163 compared to $340,828 for the fourth quarter of 2008. The net loss for the year ended December 31, 2009 totaled ($482,794) and ($0.01) per Common Share compared with a net loss of ($520,253) and ($0.02) for the same period a year ago. During 2008, the Company had revenues of $279,305 from the provision of services to a former related party while corresponding revenues from related parties for 2009 declined to $4,800.
For the three months ended March 31, 2010, Engineering.com revenues were $317,771 as compared to revenue of $250,926 for the first quarter of 2009. The net loss for the three months ended March 31, 2010, totaled ($120,531) and ($0.00) per Common Share compared with a net loss of ($194,708) and ($0.01) for the same period a year ago. The increase in revenue is the result of increasing Internet advertising revenue. This revenue growth is derived from higher traffic to the Company's web sites and to growth in the Company's network of advertising partner web sites.
Operating earnings (EBITDA) measured as earnings before interest, taxes, amortization and stock-based compensation, was $7,099 or $0.00 per Common Share for the fourth quarter of 2009 compared with a operating loss of ($93,830) or $0.00 per Common Share for the three month period ended December 31, 2008. Operating loss for fiscal 2009 was ($259,247) or ($0.01) per Common Share compared to an operating loss of ($278,935) or ($0.01) per Common Share for fiscal 2008. The operating expenses in the fourth quarter were $289,323 and for the year were $1,193,078 compared to $289,264 for the fourth quarter a year earlier and $1,228,355 for fiscal 2008.
Operating losses for the first quarter of 2010 were ($64,718) or ($0.00) per Common Share compared with an operating loss of ($133,975) or ($0.00) per Common Share for the three months ended March 31, 2009. The operating expenses in the latest period were $272,124, down from $302,423 in the first quarter a year earlier. The reduction in operating expense resulted from lower salaries, marketing expenses and development costs.
"During 2009 and into the first quarter of 2010 the company's primary web site experienced a significant increase in page views and corresponding growth in Internet advertising revenue," said John Hayes, President of ENGINEERING.com.
As at December 31, 2009, the Company had a cash balance of $106,118 compared to a cash balance of $311,988 as at December 31, 2008. On March 31, 2010, the Company had a cash balance of $148,017 compared to a cash balance of $440,473 as at March 31, 2009.
About ENGINEERING.com Incorporated
ENGINEERING.com Incorporated (TSX VENTURE: EGN) is the developer and owner of the www.ENGINEERING.com Web site and Internet-based software and business. ENGINEERING.com offers hosted and deployed engineering software and services to manufacturers, design consultants and engineering academia around the world. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at www.ENGINEERING.com.
EBITDA
EBITDA is defined by the Company as operating income before interest expense, income taxes, amortization, stock-based compensation, asset dispositions and provision for discontinued operations. The Company has included information concerning EBITDA because it believes that EBITDA is used by certain investors as one measure of the Company's financial performance. EBITDA is not a measure of financial performance under Canadian generally accepted accounting principles and is not necessarily comparable to similarly titled measures used by other companies. EBITDA should not be construed as an alternative to operating income or to cash flows from operating activities (as determined in accordance with Canadian generally accepted accounting principles) as a measure of liquidity.
Forward Looking Statements
This press release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements. The Company's ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. ENGINEERING.com Incorporated undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.
The contents of this News Release have been reviewed and approved by the Audit Committee and the Board of Directors.
ENGINEERING.com Incorporated Balance Sheets (Cdn. $) (audited) (audited) As at As at Dec. 31, 2009 Dec. 31, 2008 ---------------------------------------------------------------------------- ASSETS Current Assets Cash 106,118 311,988 Accounts Receivable 291,761 189,109 Prepaid Expenses and Deposits 30,391 29,707 ---------------------------------------------------------------------------- Total Current Assets 428,270 530,804 Property and Equipment, net 27,916 29,865 Intangible Assets, net 412,993 591,528 ---------------------------------------------------------------------------- TOTAL ASSETS 869,179 1,152,197 ---------------------------------------------------------------------------- LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Current Liabilities Accounts Payable and Accrued Liabilities 707,147 787,594 Deferred Revenue 46,614 84,247 Promissory Note - Short-term 24,999 58,464 ---------------------------------------------------------------------------- Total Current Liabilities 778,760 930,305 Promissory Note - Long Term -- 28,971 ---------------------------------------------------------------------------- TOTAL LIABILITIES 778,760 959,276 ---------------------------------------------------------------------------- SHAREHOLDERS' EQUITY Share Capital 15,113,752 14,759,008 Contributed Surplus 417,959 392,411 Deficit (15,441,292) (14,958,498) ---------------------------------------------------------------------------- TOTAL SHAREHOLDERS' EQUITY 90,419 192,921 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 869,179 1,152,197 ---------------------------------------------------------------------------- ENGINEERING.com Incorporated Statements of Income (Cdn. $) (unaudited) (unaudited) (audited) (audited) Three Months Three Months Year Year Ended Ended Ended Ended Dec. 31, Dec. 31, Dec. 31, Dec. 31, 2009 2008 2009 2008 ---------------------------------------------------------------------------- Revenue 489,163 340,828 1,433,566 1,444,768 Cost of Sales 192,741 145,394 499,735 495,348 ---------------------------------------------------------------------------- GROSS PROFIT 296,422 195,434 933,831 949,420 ---------------------------------------------------------------------------- Expenses Salaries & Benefits 135,350 163,579 535,903 643,082 Marketing Expenses 18,803 10,946 86,905 38,556 Development Costs 55,528 72,212 263,067 233,187 General & Administrative 79,642 42,527 307,203 313,530 ---------------------------------------------------------------------------- 289,323 289,264 1,193,078 1,228,355 ---------------------------------------------------------------------------- Operating Income/(Loss) before Under-noted Items: 7,099 (93,830) (259,247) (278,935) Stock Based Compensation (1,057) 3,444 (25,548) (46,348) Amortization Expense (50,106) (48,970) (197,999) (194,970) ---------------------------------------------------------------------------- Net Loss (44,063) (139,356) (482,794) (520,253) ---------------------------------------------------------------------------- Basic and Diluted (Loss) per Share (0.00) (0.00) (0.01) (0.02) Weighted Average Number of Common Shares (basic and diluted) 36,870,623 29,496,499 36,638,235 29,496,499 ---------------------------------------------------------------------------- Consolidated Statements of Deficit ---------------------------------------------------------------------------- Deficit, beginning of period (15,397,229) (14,819,142) (14,958,498) (14,438,245) ---------------------------------------------------------------------------- Net Income (Loss) (44,063) (139,356) (482,794) (520,253) Deficit, end of period (15,441,292) (14,958,498) (15,441,292) (14,958,498) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ENGINEERING.com Incorporated Cash Flow Statements (Cdn. $) (unaudited) (unaudited) (audited) (audited) Three Months Three Months Year Year Ended Ended Ended Ended Dec. 31, Dec. 31, Dec. 31, Dec. 31, 2009 2008 2009 2008 ---------------------------------------------------------------------------- OPERATING ACTIVITIES Net Loss (44,063) (139,356) (482,794) (520,253) ADD - Items Not Affecting Cash Stock Based Compensation 1,057 (3,444) 25,548 46,348 Amortization 50,106 48,970 197,999 194,970 Changes in operating assets and liabilities other than cash (82,329) 126,119 (221,416) 348,066 ---------------------------------------------------------------------------- CASH FROM OPERATING ACTIVITIES (75,230) 32,289 (480,663) 69,131 ---------------------------------------------------------------------------- FINANCING ACTIVITIES Promissory Notes (13,317) (1,730) (62,436) (29,326) Proceeds of Share issuance 354,744 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- CASH FROM FINANCING ACTIVITIES (13,317) (1,730) 292,308 (29,326) ---------------------------------------------------------------------------- INVESTING ACTIVITIES Additions to Property and Equipment (4,905) (446) (17,515) (16,733) ---------------------------------------------------------------------------- CASH FROM INVESTING ACTIVITIES (4,905) (446) (17,515) (16,733) ---------------------------------------------------------------------------- Net Increase (Decrease) in Cash (93,452) 30,113 (205,870) 23,072 CASH, beginning of period 199,570 281,875 311,988 288,916 ---------------------------------------------------------------------------- CASH, end of period 106,118 311,988 106,118 311,988 ---------------------------------------------------------------------------- Engineering.Com Balance Sheet As at March 31, 2008 Unaudited Audited March 31, December 31, 2010 2009 ASSETS Current Assets -------------- Cash 148,017 106,118 Accounts Receivable 229,634 291,761 Prepaid Expenses and Deposits 26,706 30,391 ------------ ------------- Total Current Assets 404,357 428,270 ------------ ------------- Property & Equipment, net 26,588 27,916 Intangible Assets, net 370,237 412,993 ------------ ------------- TOTAL ASSETS 801,182 869,179 ------------ ------------- ------------ ------------- LIABILITIES AND SHAREHOLDERS EQUITY LIABILITIES Current Liabilities ------------------- Accounts Payable & Accrued Liabilities 743,205 707,147 Deferred Income 65,818 46,614 Promissory notes - short-term 16,035 24,999 ------------ ------------- TOTAL LIABILITIES 825,058 778,760 ------------ ------------- SHAREHOLDERS EQUITY Share Capital 15,113,752 15,113,752 Contributed Surplus 424,196 417,959 Deficit (15,561,824) (15,441,292) ------------ ------------- TOTAL SHAREHOLDERS EQUITY (23,876) 90,419 ------------ ------------- ------------ ------------- TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 801,182 869,179 ------------ ------------- ------------ ------------- ENGINEERING.com Statements of Income Three Three (Unaudited) months months ended ended March 31, March 31, 2009 2009 REVENUE 317,771 250,926 COST OF SALES 110,365 82,478 ------------ ----------- GROSS PROFIT 207,406 168,448 EXPENSES (INCOME) Salaries & benefits 134,018 145,284 Marketing expenses 19,797 22,079 Development costs 50,083 66,697 General & Administrative 68,226 68,363 ------------ ----------- 272,124 302,423 ------------ ----------- Operating Income (Loss) (EBITDA) before under noted items: (64,718) (133,975) Stock based compensation (6,240) (11,587) Amortization Expense (49,573) (49,146) ------------ ----------- (55,813) (60,733) ------------ ----------- ------------ ----------- NET LOSS (120,531) (194,708) ------------ ----------- ------------ ----------- BASIC AND DILUTED LOSS PER SHARE (0.00) (0.01) Weighted Average Number of Common Shares (basic and diluted) 36,870,623 31,872,606 Consolidated Statements of Deficit ------------ ----------- DEFICIT, beginning of period (15,441,292)(14,958,498) ------------ ----------- Net Loss (120,531) (194,708) DEFICIT, end of period (15,561,823)(15,153,206) ------------ ----------- ------------ ----------- ENGINEERING.com Inc. Cash Flow Statements (Unaudited) Three Months Three Months Ended Ended March 31, March 31, 2010 2009 OPERATING ACTIVITIES Net loss (120,531) (194,708) ADD - Items not affecting cash Stock based compensation 6,240 11,587 Amortization 49,573 49,146 Changes in operating assets and liabilities other than cash 121,074 (80,194) ------------ ------------ CASH FLOWS FROM OPERATING ACTIVITIES (56,356) (214,169) ------------ ------------ FINANCING ACTIVITIES Promissory notes (8,964) (11,997) Proceeds from share issuance -- 357,706 ------------ ------------ CASH FLOWS FROM FINANCING ACTIVITIES (8,964) 345,706 ------------ ------------ INVESTING ACTIVITIES Fixed assets (5,489) (3,055) ------------ ------------ CASH FLOWS FROM INVESTING ACTIVITIES (5,489) (3,055) ------------ ------------ Net increase (decrease) in cash 41,903 128,485 CASH, beginning of period 106,118 311,988 ------------ ------------ CASH, end of period 148,017 440,473 ------------ ------------ ------------ ------------
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: ENGINEERING.com, Inc. John Hayes President & CFO 905-273-9991, ext. 280 or Toll Free: 1-877-997-9917 905-273-6691 (FAX) www.engineering.com
1 Year Engineering.Com Incorporated Chart |
1 Month Engineering.Com Incorporated Chart |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
