November 28, 2008 20:06 ET

MPVC Inc. Releases September 30, 2008 Quarterly Management Prepared Financial Statements

TORONTO, ONTARIO--(Marketwire - Nov. 28, 2008) - MPVC Inc. (TSX VENTURE:OCI) (the "Company") released its management prepared consolidated first quarter financial statements today. The Company reported that its wholly-owned subsidiaries, One Contact Inc. (US) and One Contact (Canada) Inc. ("OCI"), which are reflected in its consolidated statements, reported much stronger interim Canadian GAAP financial results for the three month period ended September 30, 2008 as compared to results for the previous two quarters.

For the three month period ended September 30, 2008 the Company posted revenues of $2,011,697 as compared to $1,677,778 for the three month period ended September 30, 2007. The increase was primarily due to growth in existing business. Year to date the company reported Net Income of $30,135 and positive EBITDA.

The Company also reported cash and short-term investments of $99,839, for the three months ended September 30, 2008. Accounts receivable, net of an allowance for doubtful accounts, at the end of Q3-2008 totaled $320,019 and other current assets, comprised primarily of prepaid items totaling $90,246.

About MPVC Inc.

The Company, through its wholly owned subsidiary OCI, is committed to providing and managing specialized inbound and outbound customer care, sales and marketing, technical support and many other centralized contact center services to its clients. The Company's focus is on providing single source solutions for all clients' contact center needs from its growing base of delivery centers. The Company is dedicated to providing a quality and breadth of service that exceeds client expectations.

This press release contains forward-looking statements. The Corporation is subject to significant risks and uncertainties which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Such risk factors include, but are not limited to, risks associated with public markets, competition, lack of available acquisition opportunities, market price of the Corporation's shares, failure to obtain additional financing, dilution, customer credit risk, reliance on key personnel, changes in legislation, environmental matters, potential conflicts of interest and risk of loss of key contracts. The Corporation cannot assure investors that actual results will be consistent with any forward-looking statement and the Corporation assumes no obligation to update or revise such forward-looking statements to reflect actual events or new circumstances.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • MPVC Inc.
    Graham Kemp
    Chairman of the Corporation
    (480) 575-9481
    MPVC Inc.
    Michael Hilmer
    CEO of the Corporation
    (416) 420-5529