SONOMAX REPORTS THIRD QUARTER 2010 RESULTS
MONTREAL, Nov. 25 /CNW Telbec/ - Sonomax Technologies Inc. ("Sonomax" or the "Company") (TSX Venture: SHH) today disclosed its results for the three and nine month periods ended September 30, 2010.
As Sonomax moves closer to meeting its objective of becoming an R&D licensing company, Third Quarter 2010 highlights were:
- Decrease in net revenue to $110,179 in 2010 from $186,819 in 2009.
- Gross (loss) profit was $14,362 in 2010 compared to ($191,848) in 2009.
- Increase in operating expenses to $948,246 compared to $553,108 in 2009.
Full financial statements can be found at: www.sedar.com
Also, on November 24, 2010, the Board of Directors granted an aggregate of 2,075,000 stock options to outside directors of the company.
About Sonomax Technologies Inc.
Sonomax is a leader in the research, development and licensing of in-ear technologies. With over 50 patents worldwide, Sonomax pioneering innovation includes instant custom-fitting earpieces that deliver the most comfortable protective and sound enhancing experience in the world as well as software driven solutions for validating earpiece performance. The latest V-4 "custom-fit by Sonomax" System offers our OEM, ODM and aftermarket clients a broader range of opportunities in customized earpieces for the Consumer, Industrial, Military and Medical markets.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of Sonomax Technologies Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
%SEDAR: 00029620E
For further information:
Nick Laperle, President
Sonomax Technologies Inc.
[email protected]
514-932-2674
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