Eloda Corporation announces results for fiscal 2008



    MONTREAL, May 1 /CNW Telbec/ - Eloda Corporation, ("Eloda" or the
"Company") (TSX-V: ELA), today announced its results for the fiscal year ended
December 31, 2008.
    The Corporation realized revenues of $322,584 for the fiscal year ended
December 31, 2008, an increase of 22.5% compared with revenues of $263,258 for
the same period in the previous fiscal year.
    Net losses totalled $4,924,714 or $0.06 per share in 2008, against
$7,827,340 or $0.11 per share in 2007. This lower loss is primarily associated
with lower operating expenses as well as with a decrease in non cash expenses
such as stock based compensation offset by higher expenses related to the
accretion in carrying value of long term debt and convertible debentures,
which amounted to $28,733 and $701,329 respectively for fiscal 2008 compared
to $2,406,579 and $193,007 respectively for fiscal 2007.

    
    -------------------------------------------------------------------------
                                                            2008        2007
                                                  ---------------------------
                                                               $           $
    -------------------------------------------------------------------------
    Revenues                                             322,584     263,258
    -------------------------------------------------------------------------
    Net Loss                                          (4,924,714) (7,827,340)
    -------------------------------------------------------------------------
    Basic and diluted loss per share                       (0.06)      (0.11)
    -------------------------------------------------------------------------
    Total Assets                                         742,714   2,242,006
    -------------------------------------------------------------------------
    Long Term liabilities                              4,751,276   2,328,661
    -------------------------------------------------------------------------
    

    Highlights

    "2008 was an important year for Eloda. We piloted our technology, Eloda
Protocol, with a leading U.S. packaged goods company in the 27 largest U.S.
territories. Results have been in line with our expectations of the market
discrepancy levels. With the product having been tested with a large
advertiser and its agency, we are now in a position to present our offering to
the US market. This is a significant stepping stone for Eloda." said François
Rainville, President and CEO of Eloda.

    About Eloda Corporation

    Eloda Corporation (TSX-V:ELA) is a third party providing a suite of
innovative, effective and user-friendly measurement and validation tools for
the advertising industry. The company is headquartered in Montreal, with an
office in New York City. For more information, visit www.eloda.com.

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




For further information:

For further information: L. Derek Lindsay, VP and CFO, Eloda
Corporation, (514) 842-1513, FAX: (514) 842-4588, dlindsay@eloda.com;
Christiane Allaire, Director, Communications and Marketing, Eloda Corporation,
(514) 842-1513, FAX: (514) 842-4588, invest@eloda.com

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ELODA CORPORATION

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