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.