GDI INTEGRATED FACILITY SERVICES INC. Edmonton, Alberta, August 28, 2014 - Medwell Capital Corp. (TSX-V: MWC) today announced its financial and operational results for the quarter ended June 30, 2014.
Financial Results
For the quarter ended June 30, 2014, the consolidated net income of the Corporation was $962,000 ($0.13 per share), as compared to a net income of $166,000 ($0.02 income per share) for the same period last year. The income for the quarter largely reflects an unrealized gain of $1.2 million on the Spectral investment.
The Company continues to manage costs judiciously and ended the quarter with $3.7 million in cash and cash equivalents.
As at June 30, 2014, there were 7,282,589 common shares issued and outstanding.
For complete financial results, please see the company's filings at SEDAR or on the company's website (www.medwellcapital.com).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation's ongoing quarterly and annual reporting. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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