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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Sparta Capital Ltd | TSXV:SAY | 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% | 0.015 | 0.015 | 0.02 | 0.015 | 0.015 | 0.015 | 124,830 | 14:37:25 |
Sparta Capital Ltd. ("Sparta") (TSX VENTURE:SAY) released today its unaudited financial statements for its three month period ended December 31, 2008. The net comprehensive loss for the three month period ended December 31, 2008 was $76,649. SUMMARY OF INCOME STATEMENT INFORMATION ---------------------------------------------------------------------------- Income Statement December 31, 2008 ---------------------------------------------------------------------------- Sales $ - Cost of sales $ - Operating expenses $ 77,462 Other income (loss) $ (813) Net income (loss) for period $ (76,649) Per share - basic and diluted $ (0.002) Weighted average shares outstanding - basic 35,247,631 ---------------------------------------------------------------------------- SUMMARY OF CASH FLOW INFORMATION ---------------------------------------------------------------------------- Cash Flow December 31, 2008 ---------------------------------------------------------------------------- Cash from operating activities $ (69,192) Cash from financing activities $ - Cash from investing activities $ 438,327 Increase in cash and cash equivalents $ 369,135 Cash and cash equivalents - beginning of period $ 401,375 Cash and cash equivalents - end of period $ 770,510 ---------------------------------------------------------------------------- SUMMARY OF BALANCE SHEET INFORMATION ---------------------------------------------------------------------------- Balance Sheet December 31, 2008 ---------------------------------------------------------------------------- Cash and cash equivalents $ 770,510 Total Assets $ 1,358,439 Total Liabilities $ 28,410 Share capital $ 5,221,199 Total Shareholders' Equity $ 1,330,029 Total Liabilities & Shareholders' Equity $ 1,358,439 ---------------------------------------------------------------------------- RESULTS OF OPERTIONS For the three month period ended December 31, 2008 the Corporation had a net comprehensive loss of $76,649 as compared to the December 31, 2007 net comprehensive loss of $56,164. During the three month period ended December 31, 2008 the Corporation realized a $24,412 gain from the sale of its long term investment in Drumlin Energy Corp. Advertising & Promotion decreased slightly from $4,718 to $3,112 due to the reduction of investor relation fees and decrease in promotional expense of the Hy-Drive system. Consulting fees increased slightly from $50,369 to $59,400 as a result engaging a consultant to identify and evaluate business growth opportunities. Licenses and fees increased from $Nil to $2,614 resulting from regulatory and exchange filing fees incurred during the period. Office rent decreased from $6,180 to $3,658 due to office relocation with decreased lease costs and subletting a part of the office space to a third party. Professional fees increased from $435 to $3,056 due to legal costs related to filings. Travel increased from $304 to $1,713 due to an increase in travel related to review of business growth opportunities. The Company's December 31, 2008 financial statements management discussion may be viewed on SEDAR at www.sedar.com.
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