ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for monitor Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

XLM XL ID Solutions

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
XL ID Solutions TSXV:XLM 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 -

Excellium Inc. Announces Results of its Third Quarter of Fiscal 2013 and Update on Exploration of Strategic Alternatives

22/11/2013 5:40pm

Marketwired Canada


Excellium Inc. (TSX VENTURE:XLM) (the "Corporation" or "Excellium"), a Tier II
issuer listed on the TSX Venture Exchange (the "Exchange"), announces results of
its third quarter of fiscal 2013 and an update on exploration of strategic
alternatives.


Financial results for the nine-months quarter compared to previous year



--  Revenues decreased by 29.2% to $2,892,463 
--  Gross profit reached $1,437,598, a 4.1% decrease 
--  Operating loss was $1,506,166, representing a $819,800 improvement



Revenue

For the nine-months period ended September 30, 2013, Excellium had a decrease in
revenues of 29.4% at $2,892,463 compared to $4,096,191 in 2012. Electronic
Security increased from 89.3% of revenues in 2012 to 89.5% of revenues in 2013
while Electronic Identification decreased from 10.7% to 10.5% of Excellium's
revenues.


Net Loss

The Company suffered a net loss of $1,506,166 after 9 months in 2013 compared to
a net loss of $2,325,966 for the same period in 2012. In 2012, the Company has
to record Listing Expenses, amount of $956.009, following the Reverse
Acquisition Transaction with Azura Ventures Ltd.


UPDATE ON EXPLORATION OF STRATEGIC ALTERNATIVES

Following a strategic review initiated by the Board of Directors announced on
August 29, 2013, the Company entered in a non-binding Letter of Intent with a
third-party potential acquirer of the Electronic Security division of the
Company. As of the date hereof, no agreement has been reached with such third
party and there is no assurance that the Company will be able to complete a
transaction in that regard.


In November of 2013, the Company completed a secured loan transaction with its
controlling shareholder. Under the terms of the arrangement, the controlling
shareholder has made available a secured loan facility of up to $600,000 to
Excellium Inc. to finance its operations. Under the terms of the loan, the
shareholder will lend to Excellium an aggregate amount of up to $600,000,
disbursable depending on Excellium's needs. A first $200,000 tranche was drawn
by Excellium at closing. The interest rate on any outstanding principal amount
under the Excellium Loan is 6% per annum and Excellium shall repay the principal
of each advance on the second anniversary of the disbursement thereof.


Excellium is a security company specialized in biometrics identity systems and
proactive security management and in the integration of security products for
the institutional and industrial markets. Excellium is active in two distinct
but complementary lines of business: electronic security, which includes
security management, access control and video surveillance, and electronic
identification, comprising background checks and biometric identification.
Excellium's common shares are listed on the Exchange under the trading symbol
"XLM" and its continuous disclosure filings are available on SEDAR at
www.sedar.com. For further information about Excellium, please visit its website
at www.excellium.ca.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Excellium Inc.
Monique Imbeault, Chairman
(514) 798-8899

1 Year XL ID Solutions Chart

1 Year XL ID Solutions Chart

1 Month XL ID Solutions Chart

1 Month XL ID Solutions Chart

Your Recent History

Delayed Upgrade Clock