download PDF (2 pages, 16kb)

For the three-month period ended October 31, 2000, revenues were $647,150 compared to $1.3 million for the previous three-month period last year. Net loss was $695,317 for the three-month period in fiscal 2001 compared to a net income of $23,620 in the same period last year.

As in previous quarters, the Company continued its marketing program and the development of business relations with prospective clients in the retail industry. In addition, the Company has continued to develop its kiosk management and logistic services to enhance future revenue streams and develop its network of kiosks as inventory for its advertising division. In an effort to decrease the Company's dependence on one-time margins garnered from the sale of its products, the Company has initiated a stronger focus on its recurring revenue streams by transitioning from outright product sales to co-capitalization agreements that involve revenue sharing based on usage, advertising and affiliations. Management expected that such a transition would negatively affect revenues over the short-term and, this is evident when comparing the revenues generated against previous quarters.

In order to achieve our goal of profitability, the Company is committed to further reducing its internal cost structure and become more in-line with its current business demands.

"Fiscal 2000 has been a defining year of corporate accomplishments for Info Touch," stated Mr. Shahbazi, CEO of Info Touch Technologies. "We have achieved and exceeded many of our strategic objectives including several powerful strategic alliances, retail Internet kiosk deployments and new product development. While we remain committed to expand our market share, the Company is also focused on optimizing operating efficiency and productivity. We understand the need to accelerate our path to profitability and are committed to this objective. These accomplishments represent the outstanding efforts of everyone at Info Touch as well as our partners. We are very excited to continue on our growth path, to meet our objectives and enhance shareholder value."

Summary of Corporate Achievements

• Record year for Internet Kiosk Deployments - The Company has experienced its best period to date in the deployment of e-commerce enabled kiosks among significant retail establishments, including Chapters Inc., Mac's Convenience Stores and Future Shop Ltd. Each of these retailers are leaders in their respective markets and provide Info Touch with both strong growth potential and quality branding opportunities.
• New Software Product Development - In July 2000, Info Touch launched Surfnet Premiere, a new benchmark in software design, bringing e-commerce to the mass consumer. Mr. Shahbazi describes Surfnet Premiere as "a dramatic advance in kiosk technology, allowing complete e-commerce capability, ad revenues, and end-to-end security."
• Senior Management Team - Jose Guerrero joined the Company in April 2000 as COO. Mr. Guerrero previously held senior management positions at large multinationals, including Johnson & Johnson, Wal Mart, Fuji Bank. Mr. Guerrero received his Bachelor of public accounting degree from the National University in Mexico, a finance diploma (honours) from the Technology Institute of Monterrey and a Masters degree in human development

Selected Financial Information
All figures in Canadian dollars

Operating	(Audited) Twelve Months Ended July 31		(Unaudited) Twelve Months Ended October 31
	2000	1999	2000	1999
	$	$	$	$
Sales	4,254,899	2,268,683	647,150	1,328,948
Direct Costs	3,219,428	1,417,181	380,061	878,399
Gross Profit	1,035,471	851,502	267,089	450,549
Operating Expenses	2,780,422	1,376,736	962,406	426,929
Net Income (Loss)	(1,744,951)	(525,234)	(695,317)	23,620
	==========	==========	==========	==========
Loss per share	$ (0.14)	$ (0.11)	$ (0.08)	$ -

Info Touch is the clicks 'n bricks provider, offering Fortune 1000 companies public Internet/intranet access in a secure environment. The Company has developed the world's premiere kiosk security and management software package, Surfnet Premiere. Internationally, Info Touch has formed a strategic and financial partnership with InterActive Technologies Limited (ITL). ITL's goal is to own and operate Internet access terminals by fostering regional joint ventures worldwide.

For more information please contact:

Info Touch Technologies
Cameron Clark, Media Relations
Tel: (604)298-4636 ext.233
Fax: (604)298-4216
E-mail: cameron@infotouch.net
URL: www.infotouch.net

Linear Capital Corporation,
John Lewis, Investor Relations
Tel: 416-364-2266
Toll: 877-600-6001
E-mail: jrlewis@linearcapital.com

The Canadian Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy.

back to top