Extenway Solutions Inc.

Extenway Solutions Inc.

March 23, 2010 15:55 ET

Extenway Solutions Inc. Announces Filing of Financial Statements

MONTREAL, QUEBEC--(Marketwire - March 23, 2010) - Extenway Solutions Inc. (TSX VENTURE:EY) Is pleased to announce the filing of the company' s financial statements for the quarter ended 31 January 2010, together with the related management discussion and analysis, (MD&A), These documents are available at www.sedar.com.

In the three months ended January 31, 2010 Extenway had sales of $ 55,650, a net loss of $ 374,902. In the three months ended January 31, 2009 the company had sales of $ 1,175,613 and a net loss of $ 262,713.

In the nine months ended January 31, 2010 Extenway had sales of $ 178,756, a net loss of $ 1,355,413. In the nine months ended January 31, 2009 the company had sales of $ 1,501,793 and a net loss of $ 1,322,106.

Mr. John McAllister, President and CEO, stated, "Quarterly comparisons are negatively affected by the successful implementation, in the prior year, of our hotel solution at Canyon Ranch and Legendary. However, the subsequent financing, in which Extenway raised $ 3,682,500 in new equity and converted $ 3,756,165 in debt and liabilities into equity, positions the Company to develop opportunities in the hospital bedside terminal market."

About Extenway Solutions Inc.

Extenway is a provider of media, connectivity and communications solutions serving the hospitality and healthcare industries. The Company's services include Interactive Television Solutions, Bedside Terminal Solutions, as well as Internet, entertainment, Content, Marketing, Advertising Media, Education and Integration Solutions. Extenway enables guest-centric organizations get connected, informed and entertained. For more information, visit www.extenway.com.

Disclaimer – Safe Harbour Forward –Looking Statements

Certain statements contained in this press release constitute forward-looking statements. These forward-looking statements relate to the future financial conditions, results of operations or business of the Company. These statements may be current expectations and estimates about the markets in which Extenway Solutions Inc. operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. The results or events predicted in forward-looking statements may differ materially from actual results or events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In particular, forward-looking statements do not reflect the potential impact of any merger, acquisitions or other business combinations or divestitures that may be announced or completed after such statements are made.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Extenway Solutions Inc.
    Mr. John McAllister
    President and CEO
    514-694-4280 (FAX)