SOURCE: m-Wise, Inc.

November 14, 2008 06:30 ET

m-Wise Increases Revenues by 41% for the Nine Months Ended September 30, 2008 and Moves to Profitability in Q3

m-Wise Announces Financial Results for Q3 2008

WILMINGTON, DE--(Marketwire - November 14, 2008) - Mobile content technology vendor m-Wise (OTCBB: MWIS) today announced its consolidated financial results for the nine months ended September 30, 2008.

Financial Results

Total Income increased 41% to $2,037,757 for the nine months ended September 30, 2008, from $1,442,487 for the same period in 2007.

Income from customer services and technical support increased 35% to $993,128 for the nine months ended September 30, 2008, from $736,951 for the same period in 2007.

Income from revenue share increased 73% to $298,465 for the three months ended September 30, 2008, from $172,088 for the same period in 2007.

Full financial results for 2008 first nine months are available in m-Wise's 10Q filing.

"m-Wise marked another quarter of growth in income from revenue share, customer services and technical support as well as a further decrease in its liabilities," stated Mati Broudo, co-founder and Chairman of m-Wise. "Our financial results reflect the company's successful implementation of its marketing and business development efforts in Europe, South America and the United States. We will continue our strategy from 2006 of providing services-based content delivery platforms to key players in the US and Latin America. This strategy has significantly strengthened our balance sheet and stabilized the company's cash flow and will continue to have significant positive results for m-Wise. The company is in an excellent position to weather the downturn in the economy and to continue supporting our partners with cost effective solutions, as well as an opportunity to expand our customer base.

"We look forward to the rest of 2008 and to 2009 as we are certain that these will prove profitable for the company as we believe in the capacity of our leading edge platforms to play a key part in the market of mobile services."

About m-Wise

Founded in 2000, m-Wise has established itself as a leading international provider of enabling technologies for the mobile communications, mobile advertising, mobile gaming and mobile entertainment industries. m-Wise is the developer of the MOMA platform, a proven mobile content management and service delivery platform used in over 50 mobile networks throughout Europe, North and Latin America, and Asia.

MOMA is an integrated "one stop shop" for mobile operators, wireless ASPs, and content providers to deliver end-users with a state-of-the-art mobile experience. MOMA makes it easy to manage and deliver content such as entertainment, music, games and video regardless of handset compatibility, while adding real-time end user interactivity like voting, mobile marketing, advertising and access to all forms of real-time content. MOMA furthermore integrates built-in capabilities for transactional billing, customer care and marketing to satisfy the growing needs of major brands and marketing agencies.

For more information, please visit www.m-wise.com.

Safe-Harbor Statement

This press release contains "forward-looking statements". These forward-looking statements use words such as "believes," "intends," "expects," "may," "will," "should," "plan," "projected," "contemplates," "anticipates" or similar statements. These statements are based on our beliefs, as well as assumptions we have used based upon information currently available to us. Because these statements reflect our current views concerning future events, these statements involve risks, uncertainties and assumptions. Actual future results may differ significantly from the results discussed in the forward-looking statements. A reader, whether investing in our common stock or not, should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.

Contact Information

  • For more information, please contact:

    m-Wise IR:
    Gabi Kabazo
    Email: Email Contact