AirIQ Inc.
TSX VENTURE : IQ

AirIQ Inc.

February 10, 2011 16:30 ET

AirIQ Announces Re-Filing of Financial Statements

TORONTO, ONTARIO--(Marketwire - Feb. 10, 2011) - AirIQ Inc. ("AirIQ" or "the Company") (TSX VENTURE:IQ), a supplier of wireless location-based services, today announced that it has re-filed its audited consolidated annual financial statements for the financial year ended December 31, 2009. The consolidated financial statements have been re-filed because the Company's auditors, BDO Canada LLP, have provided a revised auditor's report to include the audit of the reclassification of discontinued operations and the reclassification of service contract costs previously shown separately to intangible assets for the financial year ended December 31, 2008 as reflected in the financial statements previously filed. In addition, the financial statements now incorporate the audit report of Ernst &Young LLP, the Company's former auditors, in respect of the December 31, 2008 fiscal year end.

The Company does not believe that the revisions to the Auditor's Report are material, and no other changes were made to the financial statements. The re-filed financial statements which include the above-noted revised and new auditors' reports have been filed with Canadian securities regulators on SEDAR and may be viewed at www.sedar.com.

About AirIQ

AirIQ currently trades on the TSX Venture Exchange under the symbol IQ. AirIQ's office is located in Pickering, Ontario, Canada. The Company offers a suite of location based services that generate recurring revenues from each device deployed. AirIQ delivers services to two primary markets: Commercial Fleets and dealers that service Consumer segments. AirIQ provides vehicle owners with the ability to monitor, manage and protect their mobile assets. Services include: instant vehicle locating, boundary notification, automated inventory reports, maintenance reminders, security alerts and vehicle disabling and unauthorized movement alerts. For additional information on AirIQ or its products and services, please visit the Company's website at www.airiq.com.

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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