SOURCE: Serebra Learning Corporation

August 24, 2007 12:45 ET

Serebra Reports Profitable Results for First Quarter of Fiscal 2008

VANCOUVER, BC--(Marketwire - August 24, 2007) - Serebra Learning Corporation (TSX-V: SLC), a leading e-learning provider, today reported its results for the first quarter of fiscal 2008, which ended June 30 2007.

Key First Quarter Financial Highlights:

* Revenue of $1,417,212 compared to $277,591 for the same quarter a year

* Royalties, selling and support costs of $962,175 compared to $253,111
  a year ago

* General and administrative costs including amortization of $276,477
  compared to $208,206 for the same period last year

* Profit of $178,560, compared to a loss of $183,726 for the quarter
  ended June 30, 2006

"Serebra began its new fiscal year by securing large international orders from several new countries," said Ted Moorhouse, chairman, president and CEO, Serebra Learning Corporation. "We are now entering a period of tremendous momentum as a result of our focus on Serebra Connect, and we believe our growth in the future will be derived largely from these actions."

"Additionally, we hope to soon enter new markets and bolster our presence in existing countries with the combination of Serebra Connect and EasyLearning," Moorhouse continued. "We now offer a broader and more compelling portfolio of choices for our customers. Our goal is to have customers across the world turning to Serebra as their choice for e-learning thanks to the quality of EasyLearning and the power of Serebra Connect."

On Behalf of the Board of Directors,


Ted Moorhouse
Chairman, President and CEO

About Serebra Learning Corporation

Serebra Learning Corporation has a 20-year track record using the latest technology to deliver innovative personal and professional development courses to individuals and companies worldwide. Through EasyLearning, Serebra allows people in developing nations to gain valuable skills and qualifications. Through Serebra Connect, Serebra provides EasyLearning students, and other qualified individuals, with access to jobs. For more information, visit or call 800 567-7766.

About Serebra Connect

Serebra Connect enables Serebra-accredited individuals to sell their services online to businesses worldwide that want to outsource specific business tasks. Users are provided with a private workspace and user-friendly tools that allow them to collaborate and communicate effectively. For more information about Serebra Connect, visit or call 800 567-7766.

About EasyLearning

The EasyLearning program facilitates and enhances a culture of lifelong learning, improving the lives of its users by providing the skills and tools needed to succeed in the new knowledge-based economy. Those enrolled in a Serebra course experience cost-effective Internet connections, straightforward log-in procedures and timely courseware delivery. For more information about EasyLearning, visit or call 800 567-7766.

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

Contact Information

  • For further information, please contact:

    Ted Moorhouse
    Chairman, President and CEO
    Serebra Learning Corporation
    Tel: 604 676.5480
    Fax: 604 676.5490
    Toll Free: 800 567.7766
    Email Contact