TIO Networks Q1 2010

"29th Consecutive Quarter of Transaction Growth"

VANCOUVER, Dec. 22 /CNW/ - TIO Networks Corp. owner of North America's leading multi-channel expedited bill payment network, (TSX-V: TNC), today announced fiscal 2010 first quarter financial results for the period ended October 31, 2009.

    
            ---------------------------------------------------
             Quarter ended Oct. 31        2009          2008
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             Revenue                  $5,158,030    $4,822,772
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             EBITDA*                   $35,000      $140,000
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             Net Income (loss)        ($ 674,420)    ($583,140)
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    *EBITDA - This is a non-GAAP measure - earnings before interest, tax,
    depreciation and amortization, and stock-based compensation.
    

TIO generated its 29th consecutive quarter of transaction and revenue growth. The Company achieved its 2009 calendar year corporate goal of 20,055 activated locations and has set a new target of 30,000 activated endpoints and 10,000 consistently transacting endpoints for the calendar year ended 2010. Factors affecting the financial results included Amortization of property and equipment of $500,824 and non-cash stock-based compensation expense of $132,000.

"To date, TIO's core business has been focused on providing expedited bill payments for customers that pay their bills in person", said Hamed Shahbazi, Chairman and CEO of TIO Networks. "Going forward, we see numerous opportunities to leverage our API platform to generate strong growth this year in the walk-up payments industry and break new ground in last minute bill payment services for new channels such as mobile and web."

TIO Networks serves the American consumer's growing reliance on expedited payment products to manage their everyday household budgets and avoid costly penalties.

A conference call for investors and analysts will be held today at 1:30pm EST. To participate in the conference call please dial, (416) 644-3426 in Toronto, or Toll free, 1-800-731-5319. Callers should request the TIO Networks Conference. Complete financial results will be available prior to the call at www.sedar.com.

TIO Networks Corp.

TIO is the leading multi-channel expedited bill payment processor serving the largest Telecommunication, Wireless, Cable and Utility bill issuers in North America. With over 20,000 endpoints to its processing network, TIO symbolizes fast, convenient and secure access to expedited payment services.

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

This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. Potentially, many factors could cause our actual results to vary materially from those described herein as intended, planned, anticipated or expected. TIO Networks Corp. does not intend and does not assume any obligation to update these forward-looking statements.

* EBITDA, (Earnings before interest, tax, depreciation, amortization and stock-based compensation), is not a defined term under Canadian generally accepted accounting principles, nor does it have a standard, agreed upon meaning. Accordingly, the Company's EBITDA may not be directly comparable to EBITDA reported by other issuers. Management had determined EBITDA is a useful supplemental measure in evaluating the Company's performance as it provides investors with an indication of cash available for debt service, working capital needs and capital expenditures. This non-GAAP measure is intended to provide additional information on the Company's performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

%SEDAR: 00010068E

SOURCE TIO Networks Corp.

For further information: For further information: Behshad Hastibakhsh, Media Relations - TIO Networks, Tel: (604) 298-4636, Ext. 250, Toll Free: (888) 679-3322, Email: pr@TIOnetworks.com; John Lewis, Business Development - TIO Networks, Tel: (416) 364-2266, Toll Free: (877) 954-6327, Email: jrlewis@TIOnetworks.com


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