EGC.H Quantum International Income Corporation

E.G. Capital Inc. (NEX:EGC.H), ("E.G. Capital"), formally National Construction
Inc., today announces results for the second quarter ended August 31, 2008.


Comparison of the three months ended August 31, 2008 and August 31, 2007

Revenue was $nil for the three month period ended August 31, 2008 as compared to
$52,571 for the same period last year. Revenue for the three months ended August
31, 2007 was composed of $52,571 in income from the recovery of a joint venture
receivable that was previously written off as it was deemed at that time to be
non-recoverable.


Administrative Expenses were $42,824 for the three months ended August 31, 2008
as compared to $27,846 for the same period last year. For the three months ended
August 31, 2008, the $42,824 included approximately $21,000 in professional and
advisory expenses and approximately $21,000 in regulatory related filing
expenses, consulting, and sundry administrative costs. For the three months
ended August 31, 2007 the $27,846 included approximately $20,000 in professional
and advisory expenses and approximately $8,000 in regulatory related filing
expenses, consulting and sundry administrative costs. The reduction is due to
reduced expenses incurred in pursuing potential opportunities to enhance
shareholder value. The Corporation incurred interest and bank charges of $413
for the three months ended August 31, 2008 as compared to interest expense of
$309 for the same period last year. The increase was due to increased bank
charges.


As a result of the foregoing factors, the loss before income taxes for the three
months ended August 31, 2008 was $43,237 as compared to income before special
items of $24,416 for the same period last year. The Corporation incurred special
items expense of $nil for the three month period ended August 31, 2008 as
compared to $nil for the same period last year. As a result of the foregoing
factors, the loss for the three months ended August 31, 2008 was $43,237 as
compared to income of $24,416 for the same period last year.


Comparison of the six months ended August 31, 2008 and August 31, 2007

Revenue was $nil for the six month period ended August 31, 2008 as compared to
$55,371 for the same period last year. Revenue for the six months ended August
31, 2007 was composed of $52,571 in income from the recovery of a joint venture
receivable that was previously written off as it was deemed at that time to be
non-recoverable.


Administrative Expenses were $66,505 for the six months ended August 31, 2008 as
compared to $63,886 for the same period last year. For the six months ended
August 31, 2008, the $66,505 included approximately $35,000 in professional and
advisory expenses and approximately $31,000 in regulatory related filing
expenses, consulting, and sundry administrative costs. For the six months ended
August 31, 2007 the $63,886 included approximately $50,000 in professional and
advisory expenses and approximately $14,000 in regulatory related filing
expenses, consulting and sundry administrative costs. The reduction is due to
reduced expenses incurred in pursuing potential opportunities to enhance
shareholder value. The Corporation incurred interest and bank charges of $1,278
for the six months ended August 31, 2008 as compared to interest expense of $670
for the same period last year. The increase was due to increased bank charges.


As a result of the foregoing factors, the loss before income taxes for the six
months ended August 31, 2008 was $67,783 as compared to a loss before special
items of $9,185 for the same period last year. The Corporation incurred special
items expense of $nil for the six month period ended August 31, 2008 as compared
to $nil for the same period last year. As a result of the foregoing factors, the
loss for the six months ended August 31, 2008 was $67,783 as compared to a loss
of $9,185 for the same period last year.


About E.G. Capital Inc.

The Corporation is an inactive company listed on the NEX board of the TSX
Venture Exchange Inc ("the Exchange). The business of the Corporation is to
identify and evaluate businesses or assets with a view to completing a
reactivation transaction on the Exchange.


Following the sale of certain assets in February, 2005, the Corporation did not
engage in any active business other than to preserve and/or convert into cash
any assets remaining with the Corporation and to pursue future shareholder
enhancing opportunities. The Corporation intends to review and pursue
opportunities to unlock the value of its unrecorded future income tax assets.


This press release may contain forward-looking statements relating to the
Corporation. Among the important factors that could cause actual results to
differ materially from those indicated by such forward looking statements are
competitive pressures, technical difficulties, market acceptance, changes in
customer requirements, and general economic conditions, and other risks and
uncertainties as described from time to time in Corporation's reports,
registration statements and filings filed by the Corporation with securities
regulatory authorities.

Quantum International Income Corporation (TSXV:EGC.H)
Historical Stock Chart
From Jun 2024 to Jul 2024

Quantum International Income Corporation (TSXV:EGC.H)
Historical Stock Chart
From Jul 2023 to Jul 2024