E.G. Capital Inc. (TSX VENTURE:EGC.H), ("E.G. Capital"), formally National
Construction Inc., today announces results for the six months ended August 31,
2011.


Comparison of the three months ended August 31, 2011 and August 31, 2010 

Revenue was $nil for the three month period ended August 31, 2011 as compared to
$nil for the same period last year. Administrative expenses were $15,818 for the
three months ended August 31, 2011 as compared to $42,043 for the same period
last year. For the three months ended August 31, 2011, the $15,818 included
approximately $9,000 in professional and advisory expenses and approximately
$6,000 in regulatory related filing expenses, consulting, and sundry
administrative costs. For the three months ended August 31, 2010, the $42,043
included approximately $26,000 in professional and advisory expenses and
approximately $16,000 in regulatory related filing expenses, consulting and
sundry administrative costs. 


The Corporation incurred interest and bank charges of $18 for the three months
ended August 31, 2011 as compared to interest expense of $18 for the same period
last year. 


As a result of the foregoing factors, the loss for the three months ended August
31, 2011 was $16,029 as compared to a loss of $42,061 for the same period last
year.


Comparison of the six months ended August 31, 2011 and August 31, 2010 

Revenue was $nil for the six month period ended August 31, 2011 as compared to
$nil for the same period last year. Administrative expenses were $36,878 for the
six months ended August 31, 2011 as compared to $71,921 for the same period last
year. For the six months ended August 31, 2011, the $36,878 included
approximately $28,000 in professional and advisory expenses and approximately
$9,000 in regulatory related filing expenses, consulting, and sundry
administrative costs. For the six months ended August 31, 2010, the $71,921
included approximately $51,000 in professional and advisory expenses and
approximately $21,000 in regulatory related filing expenses, consulting and
sundry administrative costs. 


The Corporation incurred interest and bank charges of $36 for the six months
ended August 31, 2011 as compared to interest expense of $61 for the same period
last year. 


As a result of the foregoing factors, the loss for the six months ended August
31, 2011 was $37,107 as compared to a loss of $71,982 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 May 2024 to Jun 2024 Click Here for more Quantum International Income Corporation Charts.
Quantum International Income Corporation (TSXV:EGC.H)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Quantum International Income Corporation Charts.