Extenway Solutions Inc.

Extenway Solutions Inc.

December 19, 2008 14:28 ET

Extenway Solutions Inc. Announces Filing of Financial Statements

MONTREAL, QUEBEC--(Marketwire - Dec. 19, 2008) - Extenway Solutions Inc. (TSX VENTURE:EY) is pleased to announce the filing of the company' s financial statements for the quarter ended October 31, 2008, together with the related management discussion and analysis, (MD&A). These documents are available at www.sedar.com.

In the three months ended October 31, 2008 Extenway had sales of $ 40,295, a net loss of $ 642,625. In the three months ended October 31, 2007 the company had sales of $25,226 and a net loss of $448,411.

In the six months ended October 31, 2008 Extenway had sales of $ 326,180, a net loss of $ 1,059,393. In the six months ended October 31, 2007 the company had sales of $51,500 and a net loss of $881,822.

Mr. John McAllister, President and CEO, stated, "While the current quarter results have been negatively affected by exchange rate losses related to to the agreement with Canyon ranch, the physical installation there is largely completed. The Company has seen significant market interest in applying its technology for bedside terminals in hospitals but progress in that market is subject to financing in a difficult financial market."

About Extenway Solutions Inc.

Extenway is a trusted provider of media, connectivity and communications solutions serving the hospitality and healthcare industries. The company's services include Interactive Television Solutions, Bedside Terminal Solutions, as well as Internet, entertainment, Content, Marketing, Advertising Media, Education and Integration Solutions. Extenway enables guest-centric organizations get connected, informed and entertained. For more information, visit www.extenway.com.

Disclaimer - Safe Harbour Forward -Looking Statements

Certain statements contained in this press release constitute forward-looking statements. These forward-looking statements relate to the future financial conditions, results of operations or business of the Company. These statements may be current expectations and estimates about the markets in which Extenway Solutions Inc. operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. The results or events predicted in forward-looking statements may differ materially from actual results or events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In particular, forward-looking statements do not reflect the potential impact of any merger, acquisitions or other business combinations or divestitures that may be announced or completed after such statements are made.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Extenway Solutions Inc.
    Mr. John McAllister
    President and CEO
    514-694-4280 (FAX)