Cardinal Factor News Release

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Cardinal Factor Reports Annual Results

Toronto, Ontario - Wednesday June 20, 2000

CARDINAL FACTOR CORPORATION (the "Corporation") is pleased to announce the results for its initial period of operations ending Jan. 31, 2001.

"In the face of significant economic and marketplace uncertainties, Cardinal Factor was able to navigate forward in key areas. I'm very proud of the hard work from the team and our accomplishments during the past year under these circumstances", notes CEO Andrew Colebeck.

(Period ending January 31, 2001)


$ 155 703




$ 3 300

Loss before write down of goodwill

(152 403)


Write-down of goodwill

(52 363)

Net loss and deficit at the end of period

$ (204 766)


Loss per share


Cardinal Factor Corporation is an Internet Business Development company. The corporation identifies niche marketplaces to develop early stage Internet application service technologies. Projects underway include Inc., an online service for the take-out and delivery marketplace segment, and Inc., a business-to-business (B2B) exchange for the wholesale and distribution segment of the gardening industry. Additionally, Cardinal Factor Corporation operates in the small and mid-sized business management software marketplace through its wholly owned BWare Software Inc. subsidiary.

The current issued and outstanding capital of the Corporation consists of 17,710,216 common shares and 12,290,000 warrants exercisable at $0.10 per share for a period of two years ending July 28, 2002.

For more information, please visit or contact Mr. Andrew Colebeck, President & CEO at (416) 537-5645.


489 King Street West
Suite 100,
Toronto, Ontario, Canada.
M5V 1K4


Copyright ©2001 - 2002 Cardinal Factor Corp. All Rights Reserved.