ATC Venture Group Inc. Announces Financial Results; Receives Amex Delinquency Notice

ATC Venture Group Inc. (AMEX:ATC) previously filed its annual report on Form 10-K for the fiscal year ended September 30, 2011, which reported the following financial results:

			For the year ended September 30, 2011													For the year ended September 30, 2010
			Continuing				Discontinued									Continuing				Discontinued
			Operations				Operations				Total					Operations				Operations				Total
Sales			$	2,210,677			$	8,377,509			$	10,588,186				$	3,103,111			$	8,841,351			$	11,944,462
Cost of goods sold				2,155,852				6,682,999				8,838,851					2,970,908				6,376,613				9,347,521
Inventory adjustments				165,892				1,829,487				1,995,379					31,845				567,193				599,038
Gross profit (loss)				(111,067	)			(134,977	)			(246,044	)				100,358				1,897,545				1,997,903
Sales, general & admin				1,026,681				3,993,036				5,019,717					1,234,937				3,524,726				4,759,663
Intangible impairment				-				110,186				110,186					-				-				-
Fraud expense				-				-				-					35,014				99,761				134,775
Operating expense				1,026,681				4,103,222				5,129,903					1,269,951				3,624,487				4,894,438
Other expense				(69,823	)			(185,987	)			(255,810	)				(128,598	)			(108,770	)			(237,368	)
Net loss pre tax			$	(1,207,571	)		$	(4,424,186	)		$	(5,631,757	)			$	(1,298,191	)		$	(1,835,712	)		$	(3,133,903	)
Net loss			$	(838,571	)		$	(3,073,186	)		$	(3,911,757	)			$	(838,191	)		$	(1,185,712	)		$	(2,023,903	)

The Company reported sales from continuing operations of $2.2 million for the fiscal year ended September 30, 2011 compared to $3.1 million in the prior year. The Company reported total sales, including sales from discontinued operations, of $10.6 million for the fiscal year ended September 30, 2011 compared to $11.9 million in the prior year.

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