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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 and nine month periods ended June 30, 2009. The net comprehensive loss for the three month and nine month periods ended June 30, 2009 was $37,464 and 221,550 respectively. SUMMARY OF INCOME STATEMENT INFORMATION ---------------------------------------- ---------------------------------------------------------------------------- Income Statement April 1 to October 1 to June 30, 2009 June 30, 2009 ---------------------------------------------------------------------------- Sales - - Cost of sales - - Net comprehensive loss for period $ 37,464 $ 221,550 Loss Per share - basic and diluted $ 0.001 $ 0.006 Weighted average shares outstanding - basic 35,247,631 35,247,631 ---------------------------------------------------------------------------- SUMMARY OF CASH FLOW INFORMATION --------------------------------- ---------------------------------------------------------------------------- Cash Flow April 1 to October 1 to June 30, 2009 June 30, 2009 ---------------------------------------------------------------------------- Cash from operating activities ($47,088) ($241,026) Cash from financing activities - - Cash from investing activities ($300,000) $132,232 Increase (decrease) in cash and cash equivalents ($347,088) $108,794 Cash and cash equivalents - beginning of period $639,669 $401,375 Cash and cash equivalents - end of period $292,581 $292,581 ---------------------------------------------------------------------------- SUMMARY OF BALANCE SHEET INFORMATION ------------------------------------- ---------------------------------------------------------------------------- Balance Sheet June 30, September 30, 2009 2008 ---------------------------------------------------------------------------- Cash and cash equivalents $ 292,581 $ 401,375 Total Assets $ 1,194,408 $ 1,436,489 Total Liabilities $ 9,280 $ 29,811 Share capital $ 5,221,199 $ 5,221,199 Total Shareholders' Equity $ 1,185,128 $ 1,406,678 Total Liabilities & Shareholders' Equity $ 1,194,408 $ 1,436,489 ---------------------------------------------------------------------------- RESULTS OF OPERATIONS For the nine month period ended June 30, 2009 the Corporation had a net comprehensive loss of $221,550 as compared to the June 30, 2008 net comprehensive loss of $224,515. For the three month period ended June 30, 2009 the Corporation had a net comprehensive loss of $37,464 as compared to the June 30, 2008 loss of $65,097. Advertising & Promotion decreased slightly from $13,373 to $12,526 during the nine month period and from $2,909 to $1,907 in the three month period due to a decrease in promotional expense related to the evaluation of business growth opportunities. Consulting fees decreased from $161,002 to $158,000 during the nine month period and the three month period from $46,833 to $34,100 due to decreased consulting fees related to evaluation of business growth opportunities and lower Corporation officer compensation. Licenses and fees increased from $12,010 to $16,523 during the nine month period and from $2,339 to $2,798 during the three month period primarily related to regulatory and exchange filing fees incurred during the period. Office rent decreased from $16,182 to $11,055 during the nine month period and from $3,696 to $3,537 during the three month period due to office relocation with decreased lease costs and subletting a part of the office space to a third party. Travel decreased from $10,515 to $5,807 during the nine month period and $3,858 to $2,163 during the three month period due to a decrease in travel related to review of business growth opportunities. The Corporation received a $15,306 dividend from its investment in the oil and gas data services business. The Corporation's June 30, 2009 financial statements and management discussion and analysis may be viewed on SEDAR at www.sedar.com.
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