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2011-03-31 17:45:00 CEST 2011-03-31 17:45:02 CEST REGULATED INFORMATION GeoSentric Oyj - Company AnnouncementEDITED EXTRACT FROM FINANCIAL STATEMENTS RELEASE FOR FINANCIAL YEAR 2010GEOSENTRIC OYJ STOCK EXCHANGE RELEASE March 31, 2011 at 18:45 EDITED EXTRACT FROM FINANCIAL STATEMENTS RELEASE FOR FINANCIAL YEAR 2010 As announced to the market on March 30, the Company has decided to delay the release of its 2010 Annual Report Financial Statements and Financial Statements Release due to pending clarification with regards to its solvency and going concern uncertainties. In order to keep the market as fully informed as possible, the Company has decided to disclose a summary of the key figures from the financial year 2010. The Company aims to clarify the going concerns uncertainties and publish its Annual Report, Financial Statements and Financial Statements Release 2010 as soon as possible. The preliminary figures disclosed herein are not audited and are prepared on going concern assumptions. However, the Company does not have sufficient working capital to finance its operations after Q1 2011 unless it gets into agreement on the terms of short-term financing with the lead investor. As disclosed on March 25,2011 the investor has presented a financing proposal to the Company which includes several aspects that require further clarification to conclude if the proposal guarantees sufficient funding for the Company to satisfy its existing and future liabilities and to enable the execution of a rights offering to Company's shareholders. Key figures (prepared on a going concern basis) summarizing the Group's financial position and financial results from continuing operations (these figures exclude the Group's former TWIG business which it divested effective December 31, 2010). All figures are teuros if not indicated otherwise: In period 4Q/2010 2010 4Q/2009 2009 Net sales 39 54 0 4 Operating result -1752 - 9536 -3358 -13916 Basic earnings per per share (eur) -0.00 -0.01 -0.00 -0.02 At the end of period Total assets 1420 8893 Shareholders´ equity -15024 -2236 Total liabilities 16444 11129 Cash 892 5939 GeoSentric Oyj For more information, please contact: investors@gypsii.com Distribution: NASDAQ OMX Helsinki Principal news media |
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