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Advanced Technologies Group, Ltd: Advanced Technologies Group Reports Fiscal Year 2009 Financial and Operating Results

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  Published in Science and Technology on Tuesday, May 19th 2009 at 10:37 GMT, Last Modified on 2009-11-02 12:33:06 by Market Wire
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RED BANK, NJ--(Marketwire - May 19, 2009) - Advanced Technologies Group, Ltd (OTCBB: [ AVGG ]) a developer of next generation software platforms, today announced financial and operating results for the year ended January 31, 2009.

Advanced Technologies Group sold its 25% share in FXDirectDealer in January, 2009. The aggregate purchase price was approximately $26,000,000, of which $9,000,000 was paid in cash at the closing of the Sale and the remaining $17,000,000 is payable in 36 equal monthly instalments of $472,222.22, bearing interest at the rate of 10% per annum and evidenced by a subordinated promissory note that was issued pursuant to a Cash Subordinated Loan Agreement.

Net income for the year was $16,617,629, or $0.91 per basic share and $0.80 per fully diluted share. Investors are encouraged to read the entire 10K (Annual Report) by visiting [ www.sec.gov ] or contacting Andrew Barwicki at 516-662-9461 / [ andrew@barwicki.com ].

Alex Stelmak, CEO of Advanced Technologies Group, stated: "In addition to the accelerated development and marketing of our PromotionStat and Cyber-Fence software platforms, the Company intends to acquire and/or develop brand new, state-of-the-art technologies as well as to explore other lucrative business opportunities. To that end, we are reviewing the possibility of entering into the aircraft recovery and used aircraft parts business. Our preliminary independent research has shown the existence of a substantial shortage of used aircraft parts and that healthy profit margins can be made with respect to that environmentally friendly business. Management will also consider investing in commercial real estate ventures."

Advanced Technologies Group, Ltd develops the PromotionStat software platform, which assists on-line advertisers in monitoring their marketing effectiveness, and the Cyber-Fence software platform, which provides anti-cyber terror and anti-identity theft solutions.