VANCOUVER, BRITISH COLUMBIA today announces its unaudited
consolidated financial results for the three months ended March 31,
2008.
Significant Events:
- Continued transition to high margin software revenue, while
eliminating low margin custom content revenues.
- Signed distribution agreement with Bell Mobility.
- Signed second order with a large Canadian based wireless
communication company for Mobile chalkboard(TM).
- Signed new Mobile chalkboard(TM) agreements with companies
such as Blackmont Capital Inc., Strategic Investment Group and a
leading European car manufacturer.
- Released new version of Mobile chalkboard(TM) that expands the
software's capabilities so that 'pushcast' recipients do not have
to be on a corporate BlackBerry� Enterprise Server, enabling
'extended enterprise' communications with business partners,
customers, shareholders and other key stakeholders.
Chalk continues to transition to mobile and earned revenues of
$423,933 for the three months ended March 31, 2008, compared to
$690,738 for the same period in 2007. Chalk earned revenues of
$147,365 for software and $224,355 for services for the three
months ended March 31, 2008 and $201,323 and $480,408, respectively
for the same period in 2007. The main reason for the decrease was
our move away from content production including in-flight video
production to focus on our software.
The net loss for the three months ended March 31, 2008 was
$2,199,974, or $0.01 per common share, compared to a net loss of
$2,178,528, or $0.03 per common share, for the same period in 2007.
The slight increase in the net loss was due to lower revenues
offset partially by lower operating costs attributed to lower
production costs and general and administrative expenses, higher
interest income, and lower accretion expense.
Selected Financial Data (in $'000's, except per share numbers):
Three Months Ended
--------------------------
March 31,
--------------------------
2008 2007
--------------------------
Revenue $424 $691
Gross margin ($2) $137
Operating loss ($2,230) ($2,056)
Net loss ($2,200) ($2,179)
Net loss per common share ($0.01) ($0.03)
This press release should be read in conjunction with Chalk's
unaudited consolidated financial statements for the three months
ended March 31, 2008, as well as its management's discussion and
analysis ("MD&A") dated May 30, 2008 available at
www.sedar.com.
About Chalk Media Corp.
Chalk's mobile content deployment system, Mobile chalkboard(TM),
allows multimedia 'content to be created, securely pushed and
tracked on BlackBerry� smartphones. Our software and content help
organizations communicate with their employees, business partners
and customers. Additional information is available at
www.chalk.com.
The BlackBerry� and RIM families of related marks, images and
symbols are the exclusive properties and trademarks of RIM. RIM
assumes no liability and makes no representation, warranty or
guarantee in relation to third party products or services.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of applicable Canadian securities legislation.
Generally, forward-looking statements can be identified by the use
of forward- looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may" ,"could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Chalk to be materially
different from those expressed or implied by such forward-looking
statements, including but not limited to: risks related to the
speculative nature of the software industry, which is affected by
numerous factors beyond Chalk's control; the existence of present
and possible future government regulation; the significant and
increasing competition that exists in the software industry; and
risks associated with early stage companies such as Chalk,
including uncertainty of revenues, markets and profitability and
the need to raise additional funding as well as those factors
discussed under the heading "Risk Factors" in Chalk's annual
MD&A dated April 25, 2008.
Although Chalk has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Chalk does not undertake to update any forward-looking
statements that are contained herein, except in accordance with
applicable securities laws. Further information on Chalk Media
Corp. is available at www.sedar.com.
To view additional Chalk press releases, please visit:
www.chalk.com/About/NewsRelease.asp.
The TSX Venture Exchange has not reviewed the contents of this
release and is not responsible for its accuracy.
Contacts: Chalk Media Corp. Kris Sutherland Executive Vice
President (604) 453-4424 Email: kris@chalk.com Website:
www.chalk.com
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