FMX Ventures Inc. formerly Footmaxx Holdings Inc.

FMX Ventures Inc. formerly Footmaxx Holdings Inc.

November 27, 2006 17:18 ET

Footmaxx Holdings Inc.: Third Quarter Statements and MD&A for September 30, 2006

TORONTO, ONTARIO--(CCNMatthews - Nov. 27, 2006) - Footmaxx Holdings Inc., ("Footmaxx")(TSX VENTURE:FMX), a leading orthorpaedic and diagnostic company announces that:

Footmaxx nine month revenue increases by 6%, EBITDA by 8%

During the first nine months of 2006 the Company continued to build momentum on the widespread acceptance of its new and expanded product lines. As a result, revenue for the period increased by $568,442, from $9,473,299 in 2005 to $10,041,741 in 2006 and the EBITDA increased $92,352, from $1,164,971 in 2005 to $1,257,323 in 2006. Net loss for the first nine months of 2006 was $ 226,899, an improvement of $ 140,154 from a loss of $367,053 in 2005. Revenue for the third quarter of 2006 was $3,248,870, 1.5% decrease from prior period revenue of $3,298,453. EBITDA for the third quarter decreased by $94,699, from $428,282 in 2005 to $333,583 in 2006. Net loss increased from $79,459 for the third quarter of 2005 to $164,774 in 2006. On a year over year basis, Q3 2006 was negatively impacted by a stronger Canadian dollar and increasing freight and labour costs.

Non-GAAP Measures

In the Management Discussion and Analysis, and elsewhere, measures such as earnings before interest, taxes, depreciation and amortization (EBITDA) and other terms that are used are not defined by generally accepted accounting principles ("GAAP"). The use of these terms may not be consistent with the way these terms are used by others. Where possible, in particular for EBITDA, tables and other information are provided that enables readers to reconcile between such non-GAAP measures and standard GAAP measures. While these measures are not defined by or required by GAAP, this information is provided to readers to help them better understand significant measures.

Forward-looking Statements

This release may contain projections and other forward-looking statements regarding future events. Such statements are predications involving known and unknown risks, uncertainties and other factors that may cause the actual events or results to be materially different. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company's expectations are correct. For information concerning factors affecting the Company's business, the reader is referred to the documents that the Company files from time to time with applicable Canadian securities and regulatory authorities.

Footmaxx produces and globally markets high quality, state-of-the-art orthopaedic devices and products. Footmaxx's diagnostic system and proprietary software provides detailed information which enable clinicians to further evaluate patients for certain for knee, hip, lower back and bio-mechanical problems. For more information on Footmaxx visit:

Number of Common Shares issued to date - 41,131,205

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