SOURCE: CYBERSURF CORP.

November 30, 2007 19:31 ET

Cybersurf Corp. Announces Results for the Three Month Period Ended September 30, 2007

CALGARY, AB--(Marketwire - November 30, 2007) - Cybersurf Corp. (TSX-V: CY) ("Cybersurf"), one of Canada's leading Internet technology and service companies, today reported financial results for the three month period ended September 30, 2007, being the first quarter of fiscal year 2008.

The Company's financial results for the first quarter of fiscal 2008 indicate a decrease in revenues, a decrease in direct operating expenses compared to the first quarter of fiscal 2007. The consolidated net loss for the three month period ended September 30, 2007 was $243,600 (or $0.01 per share) compared to $123,895 (or $0.00 per share) the three month period ended September 30, 2006. The Company continues to experience a significant decline in its high margin dial up customer base and continues to incur expenses as a result of supply problems caused by one of the Company's suppliers. However, the Company continues to eliminate any unprofitable products, reduce costs under general and administration, eliminate redundant telecom services and improve collections processes in an effort to reduce accounts receivable and bad debt expenses. In addition, the Company continues to experience significant growth in its local phone "VoIP" services and long distance customer base which are high margin services.

A complete copy of the Company's Consolidated Financial Statements and of the Company's Management Discussion and Analysis of Financial Condition and Results of Operations for the three month period ended September 30, 2007 are available on the Internet at www.sedar.com.

About Cybersurf Corp.

Cybersurf is an independent Internet and communications company providing consumers in the United States and Canada with a value-driven alternative to large incumbent carriers. Cybersurf prides itself on providing the highest possible quality of services at the lowest possible prices and is one of Canada's largest independent Internet service providers.

Cybersurf believes consumers want 'The Freedom of Choice' that comes with having a truly independent provider as an alternative to larger incumbent telephone companies or cable carriers -- a choice that allows users to connect to the Internet how they want and with an independent provider that focuses on the needs of today's average user by providing quality service at the best possible price. Cybersurf is that choice.

For more information about Cybersurf, please visit www.cybersurf.com or www.cia.com, contact Paul Mercia, President and CEO at 1-888-858-8958 or email investor.relations@cybersurf.com.

Cybersurf's common shares trade on the TSX Venture Exchange under the trading symbol "CY."

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

Forward-Looking Statements

This news release may contain certain forward-looking statements. All statements, other than statements of historical fact, included herein, 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. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Cybersurf does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.

Contact Information

  • Cybersurf Corp.
    300, 1144 - 29 Avenue NE
    Calgary, AB
    T2E 7P1
    Ph: (403) 777-2000
    Fax: (403) 777-2003