Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc.

August 29, 2007 16:58 ET

Cell-Loc Location Technologies Releases Financial Statements for Q2-2007

CALGARY, ALBERTA--(Marketwire - Aug. 29, 2007) - Cell-Loc Location Technologies Inc. ("the Company") (TSX VENTURE:LTI) has released its consolidated financial statements for the three months ended June 30, 2007. The quarter marked the achievement of significant milestones in the commercial application of the Company's business model. Highlights for the quarter include the following:

- Record installations of 11,074 beacons

- Gross billings of $1.4 million

- Net revenue recognized of $1.0 million

- Installed base of 24,000 beacons

- Initial billings for beacon renewals, commencing a revenue annuity stream

The financial statements along with management's discussion and analysis can be found on the Company's website (www.cell-loc.com) and on SEDAR (www.sedar.com).

In addition, the company regrets to announce that Mr. Luiz de Campos Salles has resigned from the Board of Directors effective August 28, 2007. Mr. Campos Salles has served the Board since August 2006 and commented "My motives are of an entirely personal nature. I was very honored to have served in this Board and wish all the best to its members."

About Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc. is the developer of a family of network-based wireless location products that enable location-based services. Located in Calgary, Alberta, CLTI currently develops, markets and supports its patented wireless location technology in North and South America and Asia, with a view to expanding globally. CLTI is listed on the TSX Venture Exchange under the trading symbol: "LTI."

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

Contact Information

  • Cell-Loc Location Technologies Inc.
    Dave Guebert
    Chief Financial Officer
    (403) 569-5700
    Cell-Loc Location Technologies Inc.
    Sheldon Reid
    Chief Executive Officer
    (403) 569-5700
    Email: investor@cell-loc.com
    Website: www.cell-loc.com