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TIO Networks Third Quarter Revenue Increases 46%

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  Published in Stocks and Investing on Monday, June 21st 2010 at 18:41 GMT by Market Wire
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 1) US$ Transactional revenue increased 83% year over year 2) Transactions increased 90% year over year 3) EBITDA* of $ 202,000 4) Cash flow generated from operating activities of $443,060 vs. $233,150 for the same period last year 5) G&A decreased 16% year over year 6) Agreement with First Data for IVR and online bill payments for money network payroll service 7) Launched proprietary mobile bill payments platform/signed PG&E as first customer 8) US Dollar declined by 18% on a year over year basis. The company generates 99% of its revenue in US Dollars and incurs the majority of its G&A in Canadian dollars. 

 ------------------------------------------------------------------------- Three months ended April 30 Nine months ended April 30 ------------------------------------------------------------------------- 2010 2009 2010 2009 ------------------------------------------------------------------------- Revenue $ 8,351,687 $ 5,705,979 $ 19,021,254 $ 16,033,500 ------------------------------------------------------------------------- EBITDA* $ 202,000 $ 180,000 $ 311,000 $ 567,000 ------------------------------------------------------------------------- Net Income (loss) $ (368,592) $ (650,585) $ (1,675,638) $ (1,687,214) ------------------------------------------------------------------------- Weighted average number of shares (diluted) 46,403,205 46,106,970 46,363,707 46,106,970 ------------------------------------------------------------------------- * EBITDA - This is a non-GAAP measure - earnings before interest, tax, depreciation and amortization, and stock-based compensation.