Multiplied Media reports third quarter 2007 results



    CALGARY, Nov. 21 /CNW/ - Multiplied Media Corporation (TSX-V: MMC), a
Calgary-based provider of local search services, today reported results for
its third quarter ended September 30, 2007.
    Total revenues for the quarter ended September 30, 2007 were $1,043
compared to $287 for the same period in 2006. The net loss for the quarter
ended September 30, 2007 was $1,120,347, or $0.02 per basic share, compared to
a net loss of $447,691, or $0.01 per basic share, in the same period of 2006.
The increase in expenditures for the third quarter was primarily related to
the addition of personnel, long-term vendors and consultants, as well as
continued investment in software development and IT and marketing
infrastructure. Investment in each area continues to advance the Company's
expansion across North America.

    

    -------------------------------------------------------------------------
    Summary of Quarterly Results of Operations - For Quarters Ended
    September 30
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                                                      2007           2006
    -------------------------------------------------------------------------
    Total Revenue                                      $1,043           $287
    -------------------------------------------------------------------------
    Net loss from operations                      $(1,120,347)     $(447,691)
    -------------------------------------------------------------------------
    Loss per share - Basic                             $(0.02)        $(0.01)
    -------------------------------------------------------------------------
    Total assets                                   $8,401,030     $1,464,780
    -------------------------------------------------------------------------
    Total liabilities                                $790,729       $214,105
    -------------------------------------------------------------------------
    Outstanding Shares - Basic                     59,978,296     35,239,685
    -------------------------------------------------------------------------
    Outstanding Shares - Fully Diluted             66,152,078     35,239,685
    -------------------------------------------------------------------------
    

    On July 24, 2007, the Company completed a short form prospectus financing
and issued 14,355,845 common shares at $0.55 per common share for gross
proceeds of $7,895,715, less issuance costs of $741,172.
    The Company also completed the corporate name change from illumiCell
Corporation to Multiplied Media Corporation. The new trading symbol, MMC,
became effective on the TSX Venture Exchange on August 16. The name change was
made to better reflect the scope and services of Poynt, the Company's
multimedia local search service. It was unanimously approved by shareholders
at the Annual General Meeting in June.
    Subsequent to September 30, 2007, the Company signed an agreement with
Idearc Media Corp. to deliver Superpages.com advertisers' content on the
Windows Live(TM) Messenger platform in the United States. The focus of most
efforts during the third quarter was in anticipation of this agreement and
preparation for the service launch in late November.
    To support near-term success, development resources are being directed to
geographic expansion and other initiatives supporting additional functionality
of the Poynt service. As such, work on the SMS platform has been deferred
until the first quarter of 2008. As outlined in the Company's business
objectives for 2007, the new Windows Live Messenger platform was recently
launched. The U.S. deployment of the AOL(R) AIM version of the Poynt service
and test deployment of the Company's BlackBerry solution are both on track for
delivery in the fourth quarter.
    The Company also has granted 630,000 options to employees to acquire
shares at $0.25 per common share.

    About Multiplied Media Corporation
    ----------------------------------

    Multiplied Media Corp. (www.multiplied.com) has developed Poynt
(www.mypoynt.com), the first multimedia local search service available over
Microsoft's Windows Live Messenger and AOL's AIM instant messaging networks.
Through partnerships with Yellow Pages Group in Canada and Idearc Media
(Superpages.com) in the United States, Poynt connects consumers with the
facility, retail and consumer goods information that assists decision making
and purchasing. Headquartered in Calgary, AB, Canada, Multiplied Media trades
on the TSX Venture Exchange under the symbol MMC.

    Forward Looking Statements
    --------------------------

    Certain statements in this release, other than statements of historical
fact, may include forward-looking information that involves various risks and
uncertainties. There can be no assurance that such forward-looking statements
will prove to be accurate. Actual result and future events could differ
materially from those anticipated in such statements. These and all subsequent
written and oral forward-looking statements are based on the estimates and
opinions of management on the dates they are made and expressly qualified in
their entirety by this notice. The Company assumes no obligation to update
forward-looking statements should circumstances or management's estimates or
opinions change, other than as required pursuant to applicable securities
laws.
    Multiplied Media's Quarterly Financial Statements and Management's
Discussion and Analysis can be found on www.multiplied.com and www.sedar.com.

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





For further information:

For further information: Andrew Osis, CFO & Director, Multiplied Media
Corporation, (403) 313-3719, andrew.osis@multiplied.com; MEDIA CONTACT:
Margaret Glover-Campbell, Director, Communications, Multiplied Media
Corporation, (403) 313-3719, margaret.glover-campbell@multiplied.com

Organization Profile

MULTIPLIED MEDIA CORPORATION

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