Multiplied Media reports first quarter 2009 results



    CALGARY, June 1 /CNW/ - Multiplied Media Corporation (TSX-V: MMC), a
Calgary-based provider of mobile local search services, today reported results
for its first quarter ended March 31, 2009.
    Total revenues for the quarter ended March 31, 2009 were $16,170 compared
to $654 for the same period in 2008. The net loss for the quarter ended March
31, 2009 was $462,255, or $0.01 per basic share, compared to a net loss of
$1,702,096, or $0.03 per basic share, in the same period of 2008.

    
    -------------------------------------------------------------------------
    Summary of Quarterly Results of Operations - For Quarters Ended March 31
    -------------------------------------------------------------------------
                                                       2009          2008
    -------------------------------------------------------------------------
    Total Revenue                                      $16,170          $654
    -------------------------------------------------------------------------
    Net loss from operations                         $(462,255)  $(1,702,096)
    -------------------------------------------------------------------------
    Loss per share - Basic                              $(0.01)       $(0.03)
    -------------------------------------------------------------------------
    Total assets                                      $710,125    $4,918,216
    -------------------------------------------------------------------------
    Total liabilities                                 $659,775      $585,618
    -------------------------------------------------------------------------
    Outstanding Shares - Basic                      83,522,296    59,978,296
    -------------------------------------------------------------------------
    Outstanding Shares - Fully Diluted              97,704,994    66,377,079
    -------------------------------------------------------------------------
    

    On January 6, 2009, the Company announced an agreement with OpenTable to
deliver real-time dining reservations to Poynt users in Canada and the United
States.
    The Company also announced an agreement with Lycos, Inc. to integrate
Poynt local search with Lycos's WhoWhere.com people search.
    In February, Poynt became available for the BlackBerry(R) Storm(TM).
    The second and final closing of a previously announced non-brokered
private placement occurred resulting in gross proceeds of $498,200.
    The Company has worked diligently to dramatically reduce costs. They have
also achieved operational milestones and are seeing first revenues from use of
the Poynt application.
    Poynt's mobile user base continues its upward trend, having recently
surpassed 440,000 customers. On average, ten percent of Poynt's user base
performs at least two searches every day. Weekly repeat usage averages 40
percent of the total user base and monthly repeat usage in May reached 72
percent of the mobile user base who performed over 3,000,000 searches for
movie and business information.
    The recent launch of Poynt into the German market is expected to
positively impact user numbers. The Company plans to work with Research In
Motion to market the application in Germany to both carriers and consumers. A
strong blogger outreach program is also planned to raise awareness among the
BlackBerry user community. It is expected that the recent nomination for Most
Innovative Consumer Application in GSMA's Mobile Innovation EMEA event will
bring additional recognition to the German launch of the application.
    Development continues on people and restaurant search sections for the
Poynt application, with deployment of those features expected during the
second quarter. The Company anticipates the additional functionality will
increase repeat usage and contribute to revenue growth.

    
    About Multiplied Media Corporation
    ----------------------------------
    
    Multiplied Media (www.multiplied.com) has developed the award-winning
application Poynt (www.mypoynt.com), the mobile local search service available
over BlackBerry smartphones. Through agreements with directory and vertical
content providers in Canada, the United States and Europe, Poynt simplifies
finding and connecting with businesses, retailers and events wherever and
whenever it is most convenient for the consumer. Headquartered in Calgary, AB,
Canada, Multiplied Media trades on the TSX Venture Exchange under the symbol
MMC.

    
    Forward-looking Statements
    --------------------------
    
    This news release contains forward-looking statements relating to the
anticipated impact on user numbers relating to the recent launch of Poynt into
the German market, plans to work with Research In Motion to market the
application in Germany to both carriers and consumers, plans to create a
strong blogger outreach program to raise awareness among the BlackBerry user
community, increasing recognition of the German launch of the application as a
result of the recent nomination for Most Innovative Consumer Application in
GSMA's Mobile Innovation EMEA event, deployment of the people and restaurant
search sections for the Poynt application and increases in repeat usage and
revenue growth as a result of such additional functionality and other
statements that are not historical facts. Such forward-looking statements are
subject to important risks, uncertainties and assumptions. The results or
events predicated in these forward-looking statements may differ materially
from actual results or events. As a result, you are cautioned not to place
undue reliance on these forward-looking statements.
    These forward-looking statements are based on certain key assumptions
regarding, among other things: future technological developments; the cost of
expanding product lines; the impact of increasing competition; the continuity
of existing business relationships; conditions in general economic and
financial markets; and our ability to obtain financing on acceptable terms.
Material risk factors that could cause actual results to differ materially
from the forward-looking information include, but are not limited to: the
deteriorating economic and market conditions that could lead to reduced
spending on information technology products; competition in our target
markets; potential capital needs; management of future growth and expansion;
the development, implementation and execution of the Company's strategic
vision; risk of third-party claims of infringement; protection of proprietary
information; customer acceptance of the Company's existing and newly
introduced products; and the success of the Company's brand development
efforts; risks associated with strategic alliances; reliance on distribution
channels; product concentration; need to develop new and enhanced products;
potential product defects; our ability to hire and retain qualified employees
and key management personnel; and risks associated with changes in domestic
and international market conditions and the entry into and development of new
markets for the Company's products.
    The forward-looking statements contained in this press release are made
as of the date of this press release. Except as required by law, the Company
disclaims any intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Company undertakes no obligation to
comment on expectations of, or statements made by, third parties in respect of
the forward-looking statements identified above.

    
    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: Andrew Osis, CEO & Director, Multiplied Media
Corporation, (403) 444-4102, andrew.osis@multiplied.com

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MULTIPLIED MEDIA CORPORATION

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