SOURCE: Serebra Learning Corporation

February 28, 2007 12:30 ET

Serebra Reports Results for Third Quarter of Fiscal 2007

VANCOUVER, BC -- (MARKET WIRE) -- February 28, 2007 -- Serebra Learning Corporation (TSX-V: SLC), a global provider of e-learning solutions, today reported its financial results, as well as an update on operations, for the fiscal 2007 third quarter, which ended December 31, 2006.

Key Quarterly Financial Highlights:

* Revenue of $230,668 compared to $1,678,755 for the same quarter a year ago.

* Cost of revenues, selling and support of $200,123 compared to $1,309,316 a year ago.

* General and administrative costs including amortization of $280,915 compared to $263,353 for the same period last year.

* Net loss of $250,370 compared to net earnings of $106,086 for the quarter ended December 31, 2005.

The third quarter saw ongoing efforts in developing the EasyLearning market internationally through channel partner relationships. Serebra continued to invest in developing technical and business solutions to accelerate the adoption of Serebra's products and services in existing and new markets.

"The political unrest in certain countries where we had forecast EasyLearning revenues in the third quarter proved to be more intense than projected by our in-region experts. As a consequence, we have taken new initiatives that have reignited our growth opportunities and repositioned our unique business model," said Ted Moorhouse, president and chief executive officer, Serebra. "We are expanding our product line and capitalizing on our technology leadership. These improvements will enable Serebra to realize the significant potential of the contracts already in place in an industry that is experiencing significant change and consolidation."

On Behalf of the Board of Directors,


Ted Moorhouse
President and CEO
About Serebra Learning Corporation

Serebra Learning Corporation (TSX-V: SLC) designs and delivers e-learning solutions for corporations, including the Fortune 1000, universities and schools, government organizations and individuals. Backed by a library of over 3,500 courses and a global network of partners, Serebra's powerful Learning Management System, Serebra Cortex, hosts and manages Information Technology, Desktop Skills and Professional Development titles. Serebra is uniquely positioned to provide a broad range of on-line learning solutions to individuals who wish to advance their personal and professional development. For more information on Serebra, visit and or call 800 567.7766.

About EasyLearning

The EasyLearning program ( facilitates and enhances a culture of lifelong learning. EasyLearning improves the lives of students by providing the skills and tools they need to succeed in the new knowledge-based economy. Students enrolled in a Serebra course experience cost-effective Internet connections, straightforward log-in procedures and timely courseware delivery.

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
    President and CEO
    Serebra Learning Corporation

    Tel: 604 676.5480
    Fax: 604 676.5490
    Toll Free: 800 567.7766
    Email Contact

    Serebra Learning Corporation
    Suite 600 - 1188 West Georgia Street
    Vancouver, BC Canada V6E 4A2

    T 604 676.5480
    F 604 676.5490
    Toll Free 1 800 567.7766