Eloda Corporation announces results for the second quarter of 2009



    MONTREAL, Aug. 17 /CNW Telbec/ - Eloda Corporation, ("Eloda" or the
"Company") (TSX-V: ELA), today announces its results for the fiscal period
ended June 30, 2009.
    Revenues for the six-month period ended June 30, 2009 were $200,263, an
increase of 27% compared with revenues of $157,729 for the same period in
2008. Revenue growth was driven by increased sales of Eloda Protocol. The
Company realized revenues of $66,931 for the three-month period ended June 30,
2009, a decrease of 21% compared with revenues of $84,534 for the same period
in the previous fiscal year.
    Net losses totalled $1,118,946 or $0.01 per share in the second quarter
of 2009, against $1,199,224 or $0.02 per share in the same period of 2008.
This lower loss is primarily associated with lower selling, general and
administrative expenses, partly offset by accretion in carrying value of long
term debt and convertible debentures.

    
    -------------------------------------------------------------------------
                              Three-month period            Six-month period
                                ended June 30,               ended June 30,
                      -------------------------------------------------------
                              2009          2008          2009          2008
                                       (restated)                  (restated)
                      -------------------------------------------------------
                                 $             $             $             $
    -------------------------------------------------------------------------
    Revenues                66,931        84,534       200,263       157,729
    -------------------------------------------------------------------------
    Loss                (1,118,946)   (1,199,224)   (2,235,236)   (2,310,469)
    -------------------------------------------------------------------------
    Basic and diluted
     loss per share          (0.01)        (0.02)        (0.02)        (0.03)
    -------------------------------------------------------------------------
    Total assets           469,860     1,359,239       469,860     1,359,239
    -------------------------------------------------------------------------
    Long term
     liabilities         5,658,769     3,938,598     5,658,769     3,938,598
    -------------------------------------------------------------------------
    

    Highlights

    "In the second quarter, we have continued our expansion in the US market.
We have delivered a significant project with a worldwide auditing partner.
However, our continued efforts to finance Eloda's operations have been
challenged by weak capital markets.", said François Rainville, President and
CEO of Eloda.
    Eloda announces that, subject to the approval of the TSX Venture
Exchange, it intends to settle an existing debt of $85,000 with a company
through the issuance of a total of 5,666,667 common shares of the Company at a
deemed price of $0.015 per common share and a debt of $70,304.57 with one
insider of the Company through the issuance of 1,406,091 common shares at a
deemed price of $0.05 per common share.
    Eloda also announces the resignation of Dr. Sadouk Besrour from the
Company's Board of Directors. The Directors of Eloda wish to thank Dr. Besrour
for his significant contribution to the development of the Company during his
tenure.

    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.

    
    Neither TSX Venture Exchange nor its Regulation services provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    




For further information:

For further information: L. Derek Lindsay, Vice-President & CFO, Eloda
Corporation, (514) 842-1513, Fax: (514) 842-4588, dlindsay@eloda.com; C.
Allaire, Communications & Marketing, Eloda Corporation, (514) 842-1513, Fax:
(514) 842-4588, invest@eloda.com

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ELODA CORPORATION

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