GeoSentric Oyj - Company Announcement

EDITED EXTRACT FROM FINANCIAL STATEMENTS RELEASE FOR FINANCIAL YEAR 2010

GEOSENTRIC 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





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