Full Press Release Details
Lexaria Corp. Provides Third Quarter Results
Kelowna, BC September 12, 2013 - (LXRP-OTCBB)
(LXX-CNSX) Lexaria Corp. announces that it has filed its third
quarter financial results to July 31, 2013 via Form 10Q on EDGAR in the USA, and
(All figures in US currency, for the nine months ending July 31
2013 compared to the nine months ending July 31 2012.) Oil revenue was $856,360,
compared to $888,726 in the year earlier period. Gross profit after operating
costs and depletion for nine months in 2013 was $292,764 compared to $371,027.
After all G&A, interest payments and other, there was a net
loss for the nine months ended in 2013 of $217,283 compared to a net loss of
$282,918 in the year earlier period. If the non-cash items of depletion and
stock based compensation are reversed out, Lexaria generated a net profit of
$46,127 for the three months ending July 31 2013.
Considering the challenging environment for small oil and gas
companies, we are satisfied with our performance for this third quarter. We ve
cut costs wherever possible and although our numbers are small, we continue to
demonstrate the viability of our operations to generate positive cash flows even
at these levels. We hope to leverage our expertise going forward, said Chris
Lexaria also reports that various items of field work are
ongoing and will be reported on in the near future.
Lexaria s shares are quoted in the USA under the symbol LXRP
and in Canada under the symbol LXX. The company uses innovative solutions to
participate in only those projects within the USA that can deliver economic
returns in the top industry quartile.
To learn more about Lexaria Corp. visit
For further information, please contact:
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements
which are not historical facts are forward-looking statements. The Company makes
forward-looking public statements concerning its expected future financial
position, results of operations, cash flows, financing plans, business strategy,
products and services, competitive positions, growth opportunities, plans and
objectives of management for future operations, including statements that
include words such as "anticipate," "if," "believe," "plan," "estimate,"
"expect," "intend," "may," "could," "should," "will," and other similar
expressions are forward-looking statements. Such forward-looking statements are
estimates reflecting the Company's best judgment based upon current information
and involve a number of risks and uncertainties, and there can be no assurance
that other factors will not affect the accuracy of such forward-looking
statements. It is impossible to identify all such factors but they include and
are not limited to the existence of underground deposits of commercial
quantities of oil and gas; cessation or delays in exploration because of
mechanical, weather, operating, financial or other problems; capital
expenditures that are higher than anticipated; or exploration opportunities
being fewer than currently anticipated. There can be no assurance that road or
site conditions will be favorable for field work; no assurance that well
treatments will have any effect on oil or gas production; and no assurance that
any expected new well(s) will be drilled or have any impact on the Company.
There can be no assurance that expected oil and gas production will actually
materialize; and thus no assurance that expected revenue will actually occur.
There is no assurance the Company will have sufficient funds to drill additional wells, or to complete
acquisitions or other business transactions. Such forward looking statements
also include estimated cash flows, revenue and current and/or future rates of
production of oil and natural gas, which can and will fluctuate for a variety of
reasons; oil and gas reserve quantities produced by third parties; and
intentions to participate in future exploration drilling. Adverse weather
conditions can delay operations, impact production, and cause reductions in
revenue. The Company may not have sufficient expertise to thoroughly exploit its
oil and gas properties. The Company may not have sufficient funding to
thoroughly explore, drill or develop its properties. Access to capital, or lack
thereof, is a major risk and there is no assurance that the Company will be able
to raise any funds. Current oil and gas production rates may not be sustainable
and targeted production rates may not occur. Factors which could cause actual
results to differ materially from those estimated by the Company include, but
are not limited to, government regulation, managing and maintaining growth, the
effect of adverse publicity, litigation, competition and other factors which may
be identified from time to time in the Company's public announcements and
The CNSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.