Odesia Announces Increase in Revenue for the First Quarter of Fiscal 2012
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 05/29/12 -- ODESIA Group Inc. ("ODESIA" or "the Company") (TSX VENTURE: ODS), a corporation specialized in delivering business-intelligence and decision-process solutions today announced its 2012 first quarter financial results.
Highlights for the first quarter ended March 31st, 2012
"We are pleased that our sales strategy has generated organic growth. We have also put more efforts communicating our Unified Business Intelligence concept, thus reaching more Business partners for ODESIA. Our acquisition program is also progressing well with the conclusion in May of a first acquisition under our new acquisition program. We expect that these concerted efforts will continue to generate growth for Odesia" declared Nicolas Bonnafous, President and CEO of ODESIA.
Selected financial information
Income statement
Statement of financial position
The financial information regarding the first quarter ended March 31, 2012 should be read in parallel with the Company's consolidated financial statements and MD&A (Management Discussion and Analysis). These documents can be found on
Post-reporting date events
On May 10th 2012, ODESIA acquired all issued and outstanding shares of privately-held Interfacing Technologies Corporation ("Interfacing"), a Business Process Management ("BPM") software company, for an estimated amount of $1,250,000 in cash and the issuance of 4,000,000 shares of ODESIA. The purchase price is subject to an adjustment based on the net tangible assets remaining in Interfacing following the audit of Interfacing's figures as at April 30, 2012. The estimated purchase price is the following:
The $1,250,000 in cash is expected to be paid following the calendar below:
Based on its internal financial projections and the estimated working capital delivered by Interfacing on the transaction closing, ODESIA expects cash flows from Interfacing's operations to be sufficient to meet the future liquidity needs shown in the table above.
About ODESIA Group Inc.
ODESIA is an international corporation specialized in business-intelligence and decision-process solutions for large and medium-sized companies. ODESIA's mission is to help managers monitor the performance of their business by accessing all relevant information at the right time and the right place. For more information visit us at .
Disclaimer in regards to forward-looking statements
This press release contains forward-looking statements which reflect ODESIA's current expectations regarding future events and may involve risks or uncertainties. Actual results could differ materially from those projected herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
ODESIA Group Inc.
Mr. Nicolas Bonnafous
President and CEO
Tel. 514.876.1155
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Datum: 29.05.2012 - 06:00 Uhr
Sprache: Deutsch
News-ID 1118540
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