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TSO3: First Quarter 2006 Financial ResultsMay 12, 2006Québec City, May 12, 2006 – TSO3 Inc. (TSX: TOS) announced today its financial results for the first quarter of 2006. The Company recorded a net loss of $2,005,363 or $0.05 per share, for the first quarter of 2006, compared to a net loss of $1,562,143 or also $0.05 per share for the same period in 2005.“We are pleased with the way that we have reworked our agreement with our distributor, allowing us to assume leadership of the sales process. This agreement is an amicable one, reworked in the best interest of the Company and its shareholders ”, stated Jocelyn Vézina, CEO at TSO3 Inc. “This has allowed us to take control of the entire sales process with our team of sales professionals dedicated 100% to selling the 125L, and to close three additional sales during the first quarter. We are very much satisfied with the positive referrals that we get from users and with the sales concluded so far - in line with the Company’s expectations.” Summary of activities for the quarter • Reworking of the agreement with the distributor: from now on, TSO3 assumes the leadership of the sales process with its own sales force. • Three new sterilizer’s sale in North America, among which one to a referral site. • Additional endorsements from medical instrumentation manufacturers. To view the analysis of the financial situation and the operating results, download the report for the first quarter. |
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