Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

August 19, 2010 16:05 ET

Appulse Corporation: Reporting Results for the Six Months Ended June 30, 2010

CALGARY, ALBERTA--(Marketwire - Aug. 19, 2010) - Appulse Corporation ("Appulse") (TSX VENTURE:APL) today reported revenues of $3,317,000 for the six months ended June 30, 2010, compared to $2,704,000 for the same six-month period of the previous year. The Corporation reported a net loss of $46,000 for the first six months of 2010, compared to a net loss of $275,000 for the same period of the previous year. A positive operating cash flow for the six-month period of $33,000 compares to a negative operating cash flow of $247,000 for the same period of 2009.

The increase in revenue is primarily attributed to higher levels of parts and service sales. Operating and general administrative overhead costs were lower during the second quarter when compared to the previous year reflecting overhead cost reduction initiatives implemented during the first half of the year. While machine sales during the second quarter were low, current prospects indicate improved levels for the remainder of the year and service and parts activities continue to be strong at both the Calgary and Waterloo locations.

At June 30, 2010, the Corporation has debentures outstanding in the amount of $165,000. The debentures are held by directors of the Corporation and were extended past their initial five-year term. The original debentures featured an option to convert to common shares. Pursuant to policy of the TSX Venture Exchange, such conversion options cannot extend further than five years and the Corporation has therefore cancelled the conversion option attached to the debentures.

About Appulse

Through its subsidiaries, Centrifuges Unlimited Inc., Rolyn Oilfield Services Inc., and Design Machining Unlimited Inc., Appulse specializes in the sales, servicing and refurbishing of centrifuge equipment, serving both domestic and international markets, and offers full service industrial machining. The Corporation continues to pursue expansion to its product base and geographic markets, in addition to adopting a program of controlled acquisitions complementing its current activities.

Further information on Appulse and its subsidiaries can be obtained through the Corporation's website, at www.appulsecorp.net and on SEDAR at www.sedar.com. Certain statements in this release are forward looking and the reader is cautioned that such information, although considered reasonable by the Corporation at the time of preparation, may prove to be incorrect.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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