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CPVC Financial Corporation Releases Third Quarter Financial Statements

MONTREAL, QUEBEC, Apr 30, 2009 (Marketwire via COMTEX) --

Companies: CPVC Financial Corp (LHB), CPVC Financial Inc (CPVFF)

CPVC Financial Corporation ("CPVC Financial") (TSX VENTURE:LHB) today released its audited consolidated financial statements for the year ended December 31, 2008.

The net loss for the year ended December 31, 2008 was $(2,537,467) or $(0.033) per share compared to net income of $3,540,844 or $0.037 at December 31, 2007. 


SUMMARY OF INCOME STATEMENT INFORMATION

----------------------------------------------------------------------------
Income Statement                                 December 31,   December 31,
                                                        2008           2007
----------------------------------------------------------------------------
Revenues                                         $(1,724,069)   $ 4,735,979

Net earnings (loss)                              $(2,537,467)   $ 3,540,844

Per share - basic                                $    (0.033)   $     0.037

Per share - diluted                              $    (0.033)   $     0.035

Weighted average shares outstanding -

Basic                                             75,993,616     77,950,447

Diluted                                           75,993,616     80,999,631
----------------------------------------------------------------------------


SUMMARY OF CASH FLOWS INFORMATION

----------------------------------------------------------------------------
Cash Flows                                       December 31,   December 31,
                                                        2008           2007
----------------------------------------------------------------------------
Operating activities                             $  (237,827)   $     6,383

Investing activities                             $   (84,570)   $  (104,118)

Financing activities                             $   219,473    $   415,219

Increase (decrease) in cash                      $  (102,924)   $   317,484

Cash - beginning of year                         $   622,408    $   304,924

Cash - end of year                               $   519,484    $   622,408
----------------------------------------------------------------------------


SUMMARY OF BALANCE SHEETS INFORMATION

----------------------------------------------------------------------------
Balance Sheets                                   December 31,   December 31,
                                                        2008           2007
----------------------------------------------------------------------------
Cash and cash equivalents                        $   519,484    $   622,408

Total Assets                                     $ 6,419,884    $ 8,020,256

Total Liabilities                                $ 2,405,791    $ 1,470,196

Share Capital                                    $ 3,848,256    $ 6,575,676

Total Shareholders' Equity                       $ 4,014,093    $ 6,550,060

Total Liabilities & Shareholders' Equity         $ 6,419,884    $ 8,020,256
----------------------------------------------------------------------------

The Company's December 31, 2008 financial statements may be viewed on SEDAR at www.sedar.com.

SOURCE: CPVC Financial Corporation 

CPVC Financial Corporation
Alain Lambert
President
(514) 395-1191

Copyright (C) 2009 Marketwire Canada. All rights reserved

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Companies: CPVC Financial Corp (LHB), CPVC Financial Inc (CPVFF)


Related terms: equity

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