TDZ Holdings Inc.-Results for the Six Month Period Ended June 30, 2011
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/11/11 -- TDZ HOLDINGS INC., today announced its results for the six month period ended June 30, 2011.
Summary of Results
Net loss for the six month period ended June 30, 2011 was $41,000 ($0.00 per share) on revenues of $36,000 as compared to a net income of $564,000 ($0.02 per share) on revenues of $4,000 for the six month period ended June 30, 2010. The net income for 2010 includes a $599,000 non-recurring gain on disposition pursuant to the Company's entitlement on the sale of the Construction Technology Business.
Net decrease in cash was $57,000 ($0.00 per share) during the six month period ended June 30, 2011 as compared to a net decrease in cash of $34,000 ($0.00 per share) during the six month period ended June 30, 2010.
Sale of the Construction Technology Business
The sale of the Construction Technology Business occurred on July 29, 2005. Substantially all of the net proceeds from the sale have been applied to repay indebtedness of Nualt, which had been guaranteed by the Company pursuant to its limited recourse guarantee. The Company received its entitlement from this as follows:
The amount received during 2010 represents the final distribution owing pursuant to the Company's entitlement in respect of the sale of the Construction Technology Business previously referred to as Investment in Construction Obligations.
This represents the finalization of the sale of the last significant operating assets of the Company and the Board of Directors will consider alternatives for the future direction of the Company.
Contacts:
TDZ Holdings Inc.
Mr. Harvey Fruitman
Executive Vice President, Secretary,
and Chief Financial Officer
(416) 661-9290
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Datum: 11.08.2011 - 08:36 Uhr
Sprache: Deutsch
News-ID 1029840
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contact information:
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TORONTO, ONTARIO
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Kategorie:
Residential Real Estate
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