Friday, February 23, 2007

Newfound NV - Trading Statement

Newfound NV own and operate Humber Valley Resort. In their trading statement released to the stock market today, Brian Dobbin stated:

"Our focus in Humber Valley has been to address the construction issues that ledto a significant backlog in building. Contracts with third-party contractors were successfully concluded and the proceeds from the fund raising in September will enable the group to continue the acceleration of construction through 2007.

While we deliberately scaled down the new sales effort the number oftransactions was below our expectations. This was in part due to theconstruction backlog, but also the limited availability of direct flights toNewfoundland. Both of these issues have been addressed."

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