Vancouver, British Columbia / TheNewswire / December 29, 2016:  Radiant Health Care Inc. (the "Company") today released its financial results for the second quarter ended October 31, 2016.

 

RESULTS OF OPERATIONS

 

For the three months ended October 31, 2016

 

Net income before income tax for the three-month period ended October 31, 2016, was a loss of $16,791 as compared to a loss for the same quarter ending in 2015 of $35,448.  

 

Administrative expenses decreased $17,419 to $16,791 for the quarter ended October 31, 2016 compared to the same period ended October 31, 2015 of $34,210.  The decrease in administrative expenses is related to a decrease in wages of $5,000, a decrease in legal fees of $15,000 and a decrease in travel of $2,000 offset by an increase in regulatory filing fees of $5,000.

 

For the six months ended October 31, 2016

 

Net income before income tax for the six-month period ended October 31, 2016, was a loss of $61,502 as compared to a loss for the same quarter ending in 2015 of $44,444.  

 

Administrative expenses increased $16,268 to $62,541 for the six months ended October 31, 2016 compared to the same period ended October 31, 2015 of $46,273.  The increase in administrative expenses is related to increase in wages of $3,000 and regulatory fees of $4,000, both in relation to the redemption of the preference shares and services related to the purchase of shares in the Company by an outside investor.  In addition, directors fees of $10,000 were paid to the directors for their services (2015 – nil).  

  

Summary of the three months ended	Oct 31, 2016 ($)	Oct 31, 2015 ($)
Total Revenue(1)	-	1,926
Net Income (loss)	(16,791)	(35,448)
Income (loss) per Share, Basic and Diluted	(0.00)/(0.00)	(0.00)/(0.00)

  

Summary of the six months ended	Oct 31, 2016 ($)	Oct 31, 2015 ($)
Total Revenue(1)	1,039	4,993
Net Income (loss)	(61,502)	(3,164)
Income (loss) per Share, Basic and Diluted	(0.01)/(0.01)	(0.01)/(0.01)

(1) Total revenue includes interest and other income.

 

This financial information has been taken from financial reports prepared in accordance with International Financial Reporting Standards.  These reports are available on SEDAR at www.sedar.com under the Company’s profile.

As in previous periods, the Company did not have an active business and its source of revenue was limited to the interest earned on the investment of excess cash.  Currently, the Company is focused on the identification, evaluation and acquisition of interests in healthcare assets and businesses, with a focus on the Canadian medical cannabis sector.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Brett Walker

President and Chief Executive Officer

 

For further information, please contact:

 

Brett Walker

President and Chief Executive Officer

(604) 366-7460

200 Granville Street, Suite 2820

Vancouver, British Columbia V6C 1S4

 

Forward-Looking Statements:

 

This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable Canadian securities laws.  Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.  Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future. Often, but not always, forward looking statements can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements due to numerous factors.  Such factors include, among others, the change of business focus of the management of the Company, the inability of the Company to pursue its current business objectives due to lack of financing, the ability to retain key personal, government and regulatory developments, including the availability of the requisite licenses, the adequacy of the Company's intellectual property protection, the Company's future patent approvals, potential infringement of the Company's intellectual property, or otherwise.  These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in these forward-looking statements.  Readers should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with Canadian securities regulators.  These reports and the Company's public filings are available at www.sedar.com.