ElectroBusiness.com Inc.
TSX VENTURE : EB

ElectroBusiness.com Inc.

January 02, 2007 12:38 ET

ElectroBusiness Announces Record Quarter

CALGARY, ALBERTA--(CCNMatthews - Jan. 2, 2007) - ElectroBusiness (TSX VENTURE:EB) is pleased to announce record quarterly revenue in Q1 2007. For the quarter ended October 31/06, revenue was $398,353 an 88% increase over Q4 2006 revenue of $212,952 and a 292% increase over the same quarter last year. The company posted a loss of $.001 per share in the quarter. These numbers are prepared by management and will be audited and included in the companies annual fillings.

"We continue to see strengthening revenue and this quarter was the best in company history" said Ryan D. Lailey, VP Business Development and Corporate Strategy. "This is a great start to 2007 and we continue to invest back into the company to continue to grow revenue and increase margins."



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October 31 October 31 $ change % change
2006 2005
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Revenue $ 398,353 $ 101,745 $ 296,608 292%
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Expenses $ 454,155 $ 232,146 $ 222,009 96%
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Net Loss $ (55,802) $(130,401) $ (74,599) (57)%
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For the quarter ended October 31, 2006 the Company's gross revenues increased 292% ($398,353 - October 31, 2006; $101,745 - October 31, 2005). A significant portion of this increase represents the initial phase of a project execution contract which was secured from a major oil and gas client. The new management team, which was appointed in March of this year, has refocused the Company's market strategy, expanding project execution capability to work more closely to potential anchor clients and provide a stronger platform for selling the full range of ElectroBusiness services. Response from the marketplace to this new initiative has been positive.

Total expense for the quarter increased 96% ($454,155 -October 31, 2006; $232,146 -October 31, 2005), due primarily to the investment in human resources necessary to improve our products and marketplace presence, as well as to complete the above noted major project. The net loss for the quarter was reduced by 57% from the same period last year ($55,802 - October 31, 2006; $130,401 - October 31, 2005). During the quarter - the company revalued its stock option position using the Black-Scholes options calculation resulting in a current quarter expense of $43,533 (2005 - $49,787). Prior to this expense, the company's net loss for the quarter was $12,169 (2005 - $80,614).

ElectroBusiness connects companies to allow the exchange of any type of information in a secure and reliable manner, with any number of locations, partners, suppliers or customers. The ElectroBusiness service is easy to use, affordable and flexible, improving productivity, profits and understanding of committed costs.

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