Visiphor Corporation
OTC Bulletin Board : VISRF

Visiphor Corporation

October 24, 2006 08:00 ET

Visiphor to Reduce Operating Costs

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 24, 2006) - Visiphor Corporation ("Visiphor" or the "Company") (OTCBB:VISRF)(TSX VENTURE:VIS)(DE:IGYA) announces that as part of its stated commitment to attempt to achieve cash flow positive status by the end of 2006 it is putting into effect a plan to reduce its monthly cash operating expenses by approximately $200,000 per month or 27%.

The cost reductions will be achieved through a consolidation of the Vancouver and Burnaby, B.C. offices into the Burnaby head office location; changes to the executive compensation structure; general cost saving measures; and a temporary lay-off of staff. The temporary lay-off of staff will consist of 16 full-time staff members representing 20% of the Company's employees.

Based on the assumption that current sales levels will remain consistent, if the projected cash operating expense savings of $200,000 per month are achieved the Company expects to be cash flow positive for the months of November and December 2006 and going forward. In the event that the Company is successful in increasing its sales levels it intends to recall the employees that have been temporarily laid off in order to meet the demands associated with rising sales volumes.

"Our priority in re-organizing the company has been to assure that customer commitments are not jeopardised", said Roy Trivett, CEO. "There will be a minimal impact on our core product strategy and we have sustained our ability to be a leading provider of integration consulting services".

About Visiphor

Visiphor software products and services deliver practical, rapidly deployable solutions that integrate business processes and databases. The Company's solutions focus on disparate process and data management problems that exist in government, law enforcement, security, health care and financial services. Using industry standard Web Services and Service Oriented Architecture ("SOA"), Visiphor delivers a secure and economical approach to true, real-time application interoperability.

The Company's flagship product, referred to as the Briyante Integration Environment ("BIE"), has a production-proven ability to reduce the time, complexity, and risk associated with defining, implementing, and supporting integrated access to physically and technologically disparate computers and datasets. The broad ranging applicability of BIE into a variety of areas (e.g. health care, financial services, government services, telecommunications, etc.) has been clearly demonstrated by highly successful deployments in the United States and Canada. Visiphor systems are utilized in Canada, the United Kingdom, United States, Mexico and the Far East. The Company is a Microsoft Gold Certified Partner. For information about Visiphor or the Company's products and services, please visit


"Roy Trivett", President and CEO

Visiphor Corporation

Forward Looking Statements: This press release may contain statements that constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. In some cases you can identify forward-looking statements by the use of words such as "may," "will," "should," "could," "expect," "plan," "estimate," "predict," "potential," continue," "believe," "anticipate," "intend," "expect," or the negative or other variations of these words, or other comparable words or phrases. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include the risks and uncertainties described in Visiphor Corporation's Form 10-KSB filed with the United States Securities and Exchange Commission. Although the Company believes that expectations reflected in its forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance, achievements or other future events. Moreover, neither the Company nor anyone else assumes responsibility for the accuracy and completeness of these forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

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