News Releases From NEX Companies For October 30th

There was one news release from a NEX company that was picked up by Marketwire on Tuesday, and it was an unusual one. E.G. Capital Inc. [NEX: EGC.H] released a summary of its quarterly results, as distilled from E.G.'s quarterly interim unaudited financial statements [PDF file] and its accompanying M D & A [another PDF file.] E.G. managed to announce a second-quarter profit, of $24,416 or 0.128 cents/share. These earnings resulted from $52,571 in revenue which resulted from the recovery of previously-written-off joint venture income. Since selling, general and administrative expenses amounted to $27,846 during that same quarter, E.G had earnings, as compared with a $2,783 loss before any extraordinary items, of which there were none in the quarter ending on August 31, 2006. The news release itself contains further details on E.G.'s. performance, both for the 2nd quarter and for the first half.

There were no bulletins from any present NEX company in Tuesday's TSX Venture Daily Bulletins, but there was one from a Tier 2 company that is joining the NEX board. Stone Mountain Holdings Inc. [VSE: SMO; as of the beginning of trading on October 31st, NEX: SMO.H] no longer qualifies to be a Tier 2 company, so it's joining the NEX. Other than that, nothing about Stone Mountain is changing. Canjex Publishing has webbed a copy of the Stone Mountain bulletin.

Three news releases were sent out exclusively through Canjex on Tuesday. The first came from Becker Gold Mines Ltd. [NEX: BGD.H], and it announces a future private placement of up to 4 million units at 12 cents/unit for total gross proceeds of up to $480,000. The units will contain one common share and a purchase warrant, with life of two years and strike price of 16 cents/share. "Company management expects that the net proceeds of the offering will be used to satisfy the company's outstanding payables, facilitate the company in identifying a suitable transaction that will enable the company to meet the minimum listing requirements of the TSX Venture Exchange and for general working capital." The rest of the news release announces that Jeffrey Becker will be resigning from his spot as president and director of Becker Gold; he will be replaced as president by Gary Freeman. BGD.H last traded on October 26th, and closed at 15.5 cents/share. That close was 0.5 cents/share above the sparsely-traded Becker's 52-week low.

The second release came from Noise Media Inc. [NEX: NMA.H]. It announces that a cease-trade order from the Alberta Securities Commission against Noise has been rescinded. NMA.H last traded in ealy 2003; its last close was at 4 cents/share.

The third release came from Millstreet Industries Inc. [NEX: MLI.H]. This release announces the unaudited interim results for the third quarter of this year, ended on August 31st, but focuses on the first nine months of FY 2007 instead of just the third quarter.. Like the E.G Capital release above, it distills the results from the also-released interim financials [PDF file] and accompanying M D & A [PDF file]. According to the news release, Millstreet earned $480,000 for the first nine months of FY '07. These earnings are the result of an unusual item, according to the financials: the sale of building and land for $663,000. Had it not been there, Millstreet would have had a $183,000 loss on $41,000 worth of revenue. Using the before-unusual-items comparison, though, Millstreet still shrunk its loss in the period: the loss for the first three quarters of FY '06 was $214,000 on $121,000 of revenue. In the third quarter of FY '07, there were no revenues at all, and expenses of $11,000 for a net loss of the same amount. Millstreet has approximately $55,000 in cash as of August 31st, which comprises its current assets. Since current liabilities are $2,786,000 in the same time period, Millstreet had a working-capital deficit of $2,731,000 as of August 31st.

In addition to the above items, there were also SEDAR-filed financial statements announced on Tuesday:

• Agrotech Greenhouses Inc. has filed its interim unaudited quarteries with accompanying M D & A.
• Focus Ventures Ltd. has filed its interim unaudited quarterlies with accompanying M D & A.
• Themac Resources Group Inc. has filed its audited annual financial statements for FY 2007 with accompanying M D & A.
• Radiant Resources Inc. has filed its interim unaudited quarterlies with accompanying M D & A.
• International LMM Ventures Corp. has filed its interim unaudited quarterlies with accompanying M D & A.

To read about the highlighted NEX stocks for Tuesday, you can go here.