Iplayco Corporation Ltd.
TSX VENTURE : IPC

Iplayco Corporation Ltd.

August 26, 2008 15:00 ET

IPlayco Releases Third Quarter Results and Fourth Quarter Update

LANGLEY, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2008) - IPlayco Corporation Ltd. (TSX VENTURE:IPC) announces the release of its consolidated financial statements for the quarterly period ending June 30, 2008.

Sales for the three months ended June 30, 2008 were $1,333,742, a decrease of $1,563,143 or 54% over the prior year. The decline was attributed primarily to lower North American sales.

It is management's view that the sales revenue for the first nine months is not reflective of the continuing current level of the Company's sales and production activities. Third quarter production and shipments of firm customer orders were significantly backlogged due to customer requests for shipment delays, resulting in lower revenue figures despite a robust level of contract negotiations and receipt of cash deposits from customers.

In the first half of the fourth quarter, including August 15th, 2008, the sales shipped and invoiced were $1,873,657 resulting in year to date sales of $7,178,491. The Company has an additional $3,775,790 of signed customer contracts in hand, with approximately $2,500,000 to be shipped by September 30, 2008; the Company has received deposits totaling $948,614 to be applied against these signed contracts.

The fiscal year end for IPlayco Corporation (IPC) is September 30; for full details please see the most recent annual and interim statements which can be accessed at the Sedar website.

ON BEHALF OF THE BOARD OF DIRECTORS

Scott Forbes, President and Director

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's business, results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed elsewhere in documents that are available to the public.

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

Contact Information

  • IPlayco Corporation Ltd.
    Dave Romano
    (604) 882-1188
    (604) 882-1977 (FAX)
    Website: www.iplayco.com