Cell-Loc Location Technologies Inc.
TSX VENTURE : LTI

Cell-Loc Location Technologies Inc.

November 20, 2007 17:50 ET

Cell-Loc Location Technologies Reports Q3 Financial Results

CALGARY, ALBERTA--(Marketwire - Nov. 20, 2007) - Cell-Loc Location Technologies Inc. (TSX VENTURE:LTI), reports that its quarterly loss has continued to shrink for the third consecutive quarter. Reported loss for the three months ended September 30, 2007 is $1.6 million or $0.01 per share. More significantly, cash flow in its Brazilian subsidiary, X3 Telecomunicacoes e Equipamentos ("X3") reached break-even during the quarter.

X3 installed 2,975 Beacons (2,134 net of churned Beacons) during September in vehicles that are insured by its customer, Itau Seguros, bringing the total for the quarter to 9,805 (7,729 net). In addition, September billing includes renewal of the 2,076 Beacons installed during September 2006 (5,131 for the quarter).

The total number of Beacons in service in the Sao Paulo network is currently approximately 35,000. To date, the Company's technology has resulted in the recovery of 470 vehicles insured by Itau Seguros.

To see a graph of Monthly Beacon Installation please click here: http://www.ccnmatthews.com/docs/1120LTI_graph.jpg

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).

About Cell-Loc Location Technologies Inc.

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

Forward Looking Statements: This news release contains certain information that may constitute forward-looking statements under applicable securities laws. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Actual results achieved may vary from the results anticipated or implied herein and variations may be material. There is no representation by the Company that actual results achieved will be the same in whole or in part as those implied in any forward looking statements.

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

Contact Information

  • Cell-Loc Location Technologies Inc.
    Sheldon Reid
    President & CEO
    (403) 569-5700
    or
    Cell-Loc Location Technologies Inc.
    Dave Guebert
    Vice President Finance & CFO
    (403) 569-5700
    Website: www.cell-loc.com