Multiplied Media reports third quarter 2009 results

CALGARY, Nov. 30 /CNW/ - Multiplied Media Corporation (TSX-V: MMC), an award-winning, Calgary-based provider of mobile local search services, today reported results for its third quarter ended September 30, 2009.

Total revenues for the quarter ended September 30, 2009 were $105,389 compared to $40,140 for the same period in 2008. The net loss for the quarter ended September 30, 2009 was $1,677,676, or $0.014 per basic share, compared to a net loss of $1,061,132, or $0.02 per basic share, in the same period of 2008.

    
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    Summary of Quarterly Results of Operations -
    For Quarters Ended September 30
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                                                          2009          2008
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    Total Revenue                                     $105,389       $40,140
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    Net loss from operations                       $(1,677,676)  $(1,061,132)
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    Loss per share - Basic                             $(0.014)       $(0.02)
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    Total assets                                    $2,251,118    $3,001,145
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    Total liabilities                                 $427,907      $760,923
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    Outstanding Shares - Basic                     143,326,013    69,458,296
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    Outstanding Shares - Fully Diluted             174,249,384    76,579,579
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The private placement announced on June 4, 2009 closed on August 6, resulting in gross proceeds of $2,918,623.

On August 25, the Company released and announced the latest version of their Poynt mobile local search application. The new release included an integrated restaurant section that allows users to search nearby restaurants, read reviews and book dining reservations.

The Company granted a total of 6.65 million stock options to officers, directors and staff of the Company as recognition of their commitment through the previous 12 months and to provide incentive for future growth. An additional 500,000 stock options were granted to consultants.

Poynt's user base surpassed 1,000,000 users in September. Active monthly users performed an average of ten local searches per month of the business, movie, people and restaurant sections of Poynt.

Multiplied partnered with V-Enable to provide data for Poynt's new restaurant section. V-Enable aggregates data from multiple information and advertising providers which ensures that Poynt's users receive the most comprehensive, up-to-date coverage when searching for local restaurants.

Poynt's user base continues to grow at approximately one percent per day, having recently exceeded a total mobile user-base of 1.4 million, with, on average, ten queries per active user per month.

A new release of Poynt for the BlackBerry(R) platform will be available in the coming weeks. This new version will include gas prices and weather functionality, further rounding out the local search offering. Further expansion into Europe continues with the latest release, offering localized versions for France, Italy and Spain and featuring business and restaurant search plus local weather.

Private beta testing of the iPhone version of Poynt is underway with a release to Apple's App Store expected before year-end. Marketing and public relations activities are being planned to support the launch onto the iPhone platform as well as continued acquisition and retention strategies to ensure a strong user base.

Research and development surrounding the delivery of Poynt to additional mobile platforms continues, with plans being put forward for Android development. In addition to Android, further platforms such as Nokia and Windows Mobile are being reviewed for market opportunity. No conclusive dates or implementation schedules have been determined.

Due diligence on the acquisition of UnoMobi Group is nearing completion and the Company is in the process of obtaining all required regulatory approvals to complete the transaction. UnoMobi brings with it two distinct assets: first, a patent portfolio including two patents having priority to 1999 concerning pushing of commercial offers to users of GPS-equipped portable wireless devices who provided limited profile data; and second, an Email-to-SMS patent-pending technology that provides push email service to basic mobile phones. In addition to contracts UnoMobi currently has in place, it is expected that their technology will assist in providing greater distribution for the Poynt application. The UnoMobi staff and assets are expected to be integrated within a month of regulatory approval.

Planning for Poynt2It, the feature phone version of Poynt, has commenced. Poynt2It will deliver feature-rich, smartphone-like functionality to feature phones, which accounted for 72% of new handset sales in the U.S. in Q2 2009. The Poynt2It application is being developed in partnership with V-Enable for distribution to certain major U.S. wireless carriers, and is expected to contribute to revenue during Q2 2010.

    
    About Multiplied Media Corporation
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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
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This news release contains forward-looking statements relating to: the anticipated release of a new version of the Poynt application, including the anticipated functionality and areas for geographic expansion; development for the iPhone and the planned release to Apple's App Store; development for additional mobile platforms including Android, Windows Mobile and Nokia; expectations around the integration of UnoMobi's technology providing greater distribution for the Poynt application; timing of completion of the UnoMobi acquisition; timing of interation of UnoMobi staff and assets; development of Poynt2It, a "lite" version of the Poynt application slated to be designed for the feature phone market; 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; the ability to complete previously announced transactions; ability to obtain all necessary regulatory approvals; 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; failure to obtain necessary regulatory approvals; 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.

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. Apple App Store and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Windows is a registered trademark of Microsoft Corporation in the United States and other countries.

Neither the 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.

SOURCE MULTIPLIED MEDIA CORPORATION

For further information: For further information: Andrew Osis, CEO & Director, Multiplied Media Corporation, (403) 444-4102, andrew.osis@multiplied.com; Margaret Glover-Campbell, Vice President, Marketing & Public Relations, Multiplied Media Corporation, (403) 444-4105, margaret.glover-campbell@multiplied.com; Raymon Ng, Director, Investor Relations, Multiplied Media Corporation, (403) 444-4113, raymond.ng@multiplied.com

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MULTIPLIED MEDIA CORPORATION

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