About Advantex Marketing International Inc.
Advantex is a specialist in the marketing services industry. Advantex partners with CIBC, and Aeroplan. On a combined basis, Advantex has contractual marketing access to more than five million Canadian consumers with above-average personal and household income. The Company's merchant partner base currently consists of just under 1,300 merchants operating restaurants; golf courses; independent inns, resorts and selected hotels; spas; retailers of men's and ladies fashion, footwear and accessories; retailers of sporting goods; florists and garden centres; book and newspaper stores; health and beauty centres; dry cleaners; gift stores; and home decor; many of which are leaders in their respective categories. Advantex is traded on the Canadian National Stock Exchange under the symbol "ADX". For additional information on Advantex, please visit www.advantex.com.
Forward-Looking Information
This Press Release contains certain "forward-looking information". All information, other than information comprised of historical fact, that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitutes forward-looking information. Forward-looking information is typically identified by words such as: anticipate, believe, expect, goal, intend, plan, will, may, should, could and other similar expressions. Such forward-looking information relates to, without limitation, information regarding the Company's: expectation respecting the impact of the acquisition on its relationship with Aeroplan, and its profitability; expectation with regards to the renewal, including the timing and the terms of such renewal, of its agreements with its affinity and financial partners; and other information regarding financial and business prospects and financial outlook is forward-looking information.
Forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company.
Forward-looking information is subject to a number of risks, uncertainties and assumptions that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include those listed under "General Risks and Uncertainties" and "Economic Dependence" in Management's Discussion and Analysis for the three and six month periods ended December 31, 2012.
All forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Advantex Marketing International Inc.Consolidated Statements of Financial Position - (unaudited)(expressed in Canadian dollars)---------------------------------------------------------------------------- December 31, 2012 June 30, 2012----------------------------------------------------------------------------Assets----------------------------------------------------------------------------Current assets----------------------------------------------------------------------------Cash and cash equivalents 5,000 1,084,773----------------------------------------------------------------------------Accounts receivable 1,164,254 966,437----------------------------------------------------------------------------Transaction credits 14,706,549 14,095,373----------------------------------------------------------------------------Inventory (note 5) 117,665 204,355----------------------------------------------------------------------------Prepaid expenses and sundry assets 588,862 315,454---------------------------------------------------------------------------- $16,582,330 $16,666,392----------------------------------------------------------------------------Non-current assets----------------------------------------------------------------------------Investment (note 6) - 100,000----------------------------------------------------------------------------Property, plant and equipment (note 7a) 265,569 222,132----------------------------------------------------------------------------Intangibles (note 7b) 420,652 330,018---------------------------------------------------------------------------- 686,221 652,150----------------------------------------------------------------------------Total assets $17,268,551 $17,318,542--------------------------------------------------------------------------------------------------------------------------------------------------------Liabilities----------------------------------------------------------------------------Current liabilities----------------------------------------------------------------------------Bank indebtedness 227,364 -----------------------------------------------------------------------------Loan payable (note 8) 6,529,891 6,715,691----------------------------------------------------------------------------Accounts payable and accrued liabilities 3,732,261 4,128,264----------------------------------------------------------------------------14% Non-convertible debentures payable (note 9) 1,719,712 -----------------------------------------------------------------------------12% Non-convertible debentures payable (note 10) 5,765,537 ----------------------------------------------------------------------------- $17,974,765 $10,843,955----------------------------------------------------------------------------Non-current liabilities----------------------------------------------------------------------------14% Non-convertible debentures payable (note 9) - 1,770,606----------------------------------------------------------------------------12% Non-convertible debentures payable (note 10) - 5,779,957---------------------------------------------------------------------------- $- $7,550,563----------------------------------------------------------------------------Total Liabilities $17,974,765 $18,394,518--------------------------------------------------------------------------------------------------------------------------------------------------------Shareholders' deficiency----------------------------------------------------------------------------Share capital (note 11) 24,110,096 24,110,096----------------------------------------------------------------------------Contributed surplus (note 12) 793,198 793,198----------------------------------------------------------------------------Equity portion of debentures (note 10) 2,114,341 2,114,341----------------------------------------------------------------------------Warrants (note 9/10) 1,167,874 1,196,013----------------------------------------------------------------------------Deficit (28,891,723) (29,289,624)----------------------------------------------------------------------------Total deficiency $(706,214) $(1,075,976)----------------------------------------------------------------------------Total liabilities and deficiency $17,268,551 $17,318,542----------------------------------------------------------------------------
