FMX Ventures Inc. formerly Footmaxx Holdings Inc.

FMX Ventures Inc. formerly Footmaxx Holdings Inc.

May 30, 2006 15:12 ET

Footmaxx Holdings Inc.: First Quarter Statements and MD&A for 2006

TORONTO, ONTARIO--(CCNMatthews - May 30, 2006) - Footmaxx Holdings Inc., ("Footmaxx")(TSX VENTURE:FMX), a Canadian owned company and one of North America's leading suppliers of corrective foot orthotics and diagnostic systems announces that:

Footmaxx first quarter revenue increases by 20%

During the first quarter of 2006 the Company continued to build on the sales momentum created from the introduction of new products during the last few months of 2005. The Company is experiencing widespread acceptance in the market of new and expanded product lines. As a result, revenue increased from $2,785,175 in the first quarter of 2005 to $3,344,183 in the first quarter of 2006, an increase of 20.1%. EBITDA for the first quarter increased by $230,179, from $186,140 in 2005 to $416,319 2006. Net loss decreased from a loss of $331,418 for the first quarter of 2005 to $78,724 in 2006.

Non-GAAP Measures

In the Management Discussion and Analysis, and elsewhere, measures such as earnings before interest, taxes, depreciation and amortization (EBITDA) and other terms that are used are not defined by generally accepted accounting principles ("GAAP"). The use of these terms may not be consistent with the way these terms are used by others. Where possible, in particular for EBITDA, tables and other information are provided that enables readers to reconcile between such non-GAAP measures and standard GAAP measures. While these measures are not defined by or required by GAAP, this information is provided to readers to help them better understand significant measures.

Forward-looking Statements

This release may contain projections and other forward-looking statements regarding future events. Such statements are predications involving known and unknown risks, uncertainties and other factors that may cause the actual events or results to be materially different. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company's expectations are correct. For information concerning factors affecting the Company's business, the reader is referred to the documents that the Company files from time to time with applicable Canadian securities and regulatory authorities.

Footmaxx produces and globally markets high quality, state-of-the-art foot orthotics. Footmaxx's proprietary software uses advanced computer techniques to produce individually prescribed and technologically superior foot orthotics which reduce foot, knee, hip and lower back pain and enhance both the comfort and performance level of the wearer. For more information on Footmaxx visit:

Number of Common Shares issued to date - 41,131,205

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