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 default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

ZOX Zeox Corporation

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Zeox Corporation TSXV:ZOX 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 -

ZEOX Releases 2009 Financial Results

29/10/2009 2:39pm

Marketwired Canada


Mr. Garold R. Spindler, CEO and Chairman of the Board of ZEOX Corporation, (TSX
VENTURE:ZOX) (FRANKFURT:ZED) announces the Company has released its annual
audited financial statements for the year ended June 30, 2009. The Company is
completing a restructuring of its businesses to position ZEOX for growth in
2010. As a result of the restructuring, substantial non-cash write downs have
been taken to appropriately reflect asset values. As such, the Company's
shareholders' equity decreased to ($626,782) from $8,332,842 at June 30, 2008.
Total assets were $5,546,168 compared to $13,776,974 at June 30, 2008. The
Company reports a 2009 operating loss of $4,780,593 and an additional loss on
write downs of $5,027,481 for a total loss of $9,808,074 ($0.17 per share)
compared to a total loss of $2,831,172 ($0.05 per share) in 2008. Revenues
increased from $851,651 in 2008 to $992,265 for 2009.


The financial results for the year ended June 30, 2009 reflect an organization
transitioning from a research and development focus to a business model based on
exploiting reserves and full scale mining, processing and distribution
operations. The Company is currently focusing on financial and production
capacity to implement operations supporting the successful commercialization of
zeolite-based product formulations globally.


"The operating results for 2009 are unacceptable and cannot continue. Hence, we
have implemented a new business model focused on profitable revenue growth and
less reliance on research and development. We have taken several steps to
rationalize expenses and are beginning to see an uptick of revenues", stated
Spindler, the Company's new Chairman and CEO. Additionally, in order to improve
communication with all stake holders and the investment community, the Company
will be hosting an investor conference call next week on November 2nd to more
fully describe management's strategy and vision. Details of the call will be
released later in the week.


For a more complete business and financial profile of the Company, management
encourages investors to view the Company's documents posted on www.SEDAR.com and
on the Company's website www.zeoxcorporation.com.


On behalf of the Board of Directors

Garold R. Spindler, CEO and Chairman of the Board

Legal Notice Regarding Forward-Looking Statements: This news release contains
"Forward-Looking Statements" within the meaning of applicable Canadian
securities legislation. Forward-Looking Statements are indicated expectations or
intentions. Forward-Looking Statements in this News Release include that the
Company is positioning for growth in 2010; that ZEOX is transitioning to a full
scale mining, processing and distribution company, and working on the successful
commercialization of unique zeolite-based product formulations globally. Factors
that could cause actual results to be materially different include that markets
may not develop as quickly as anticipated or at all, ZEOX may not be able to
raise sufficient capital to carry out development, competitive products may
capture some or all of its market or productive capacity may not be large enough
to handle market demand. Investors are cautioned against placing undue reliance
on forward-looking statements.


1 Year Zeox Corporation Chart

1 Year Zeox Corporation Chart

1 Month Zeox Corporation Chart

1 Month Zeox Corporation Chart

Your Recent History

Delayed Upgrade Clock