August 14, 2008 16:00 ET

MPVC Inc. Releases June 30, 2008 Quarterly Un-Audited Financial Statements

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2008) - MPVC Inc. (TSX VENTURE:OCI) (the "Company") released its management prepared consolidated second quarter financial statements today. The Company reported that its wholly-owned subsidiaries, One Contact Inc. (US) and One Contact (Canada) Inc. ("OCI"), which are reflected in its consolidated statements, reported record interim Canadian GAAP financial results for the 6 month period ended June 30, 2008.

For the six month period ended June 30, 2008 the Company posted revenues of $3,911,460 as compared to $3,354,686 for the six month period ended June 30, 2007. The increase was primarily due to growth in existing contracts and the launch of three pilot projects. The company reported net income of $45,297 for three months ending June 30, 2008.

The Company also reported cash and short-term investments of $53,290, for the six months ended June 30, 2008. Accounts receivable, net of an allowance for doubtful accounts, at the end of Q2-2008 totaled $593,123 and other current assets, composed primarily of prepaid items, totaled $81,755.

"We are pleased with the continued successive profits in addition to the continued growth in existing customers. This is reflective of the strong quality of service and flexibility that the company has become known for." commented Michael Hilmer, CEO.

About MPVC Inc.

The Company, through its wholly owned subsidiary OCI, is committed to providing and managing specialized inbound and outbound customer care, sales and marketing, technical support and many other centralized contact center services to its clients. The Company's focus is on providing single source solutions for all clients' contact center needs from its growing base of delivery centers. The Company is dedicated to providing a quality and breadth of service that exceeds client expectations.

This press release contains forward-looking statements. The Corporation is subject to significant risks and uncertainties which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Such risk factors include, but are not limited to, risks associated with public markets, competition, lack of available acquisition opportunities, market price of the Corporation's shares, failure to obtain additional financing, dilution, customer credit risk, reliance on key personnel, changes in legislation, environmental matters, potential conflicts of interest and risk of loss of key contracts. The Corporation cannot assure investors that actual results will be consistent with any forward-looking statement and the Corporation assumes no obligation to update or revise such forward-looking statements to reflect actual events or new circumstances.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • MPVC Inc.
    Graham Kemp
    Chairman of the Corporation
    (480) 575-9481
    MPVC Inc.
    Michael Hilmer
    CEO of the Corporation
    (416) 420-5529