TIO Networks Third Quarter Revenue Increases 46%

~31 Consecutive Quarters of Transaction Growth~

BURNABY, BC, June 21 /CNW/ - TIO Networks Corp. (TSX-V: TNC) today announced its unaudited third quarter and nine-month financial results for the period ended April 30, 2010.

QUARTERLY FINANCIAL & BUSINESS HIGHLIGHTS

    
    1) US$ Transactional revenue increased 83% year over year
    2) Transactions increased 90% year over year
    3) EBITDA* of $ 202,000
    4) Cash flow generated from operating activities of $443,060 vs. $233,150
       for the same period last year
    5) G&A decreased 16% year over year
    6) Agreement with First Data for IVR and online bill payments for money
       network payroll service
    7) Launched proprietary mobile bill payments platform/signed PG&E as
       first customer
    8) US Dollar declined by 18% on a year over year basis. The company
       generates 99% of its revenue in US Dollars and incurs the majority of
       its G&A in Canadian dollars.
    

Results for the third quarter and year to date:

    
    -------------------------------------------------------------------------
                   Three months ended April 30    Nine months ended April 30
    -------------------------------------------------------------------------
                           2010           2009           2010           2009
    -------------------------------------------------------------------------
    Revenue        $  8,351,687   $  5,705,979   $ 19,021,254   $ 16,033,500
    -------------------------------------------------------------------------
    EBITDA*      $    202,000   $    180,000   $    311,000   $    567,000
    -------------------------------------------------------------------------
    Net Income
     (loss)        $   (368,592)  $   (650,585)  $ (1,675,638)  $ (1,687,214)
    -------------------------------------------------------------------------
    Weighted
     average number
     of shares
     (diluted)       46,403,205     46,106,970     46,363,707     46,106,970
    -------------------------------------------------------------------------

    * EBITDA - This is a non-GAAP measure - earnings before interest, tax,
        depreciation and amortization, and stock-based compensation.
    

At quarter end the Company had cash, cash equivalents and restricted cash of $2,946,608 and no long term debt.

"The substantial increases in transactions and revenue and the positive trajectory in our financial metrics is a testament to the strength of our multi-channel recurring revenue business model," said Hamed Shahbazi, Chairman and CEO of TIO Networks. "Despite a difficult US economy and strong currency headwinds, we are confident that we will continue to drive strong revenue growth in the quarters ahead towards improved profitability."

Conference Call:

A conference call to discuss the results will be held Tuesday June 22, 2010 at 1:30pm EST. Please dial, [phone] in Toronto, or Toll free, 1-800-731-5319 and request the TIO Conference.

TIO Networks Corp.

TIO is a leading multi-channel expedited bill payment processor with 21,000 endpoints to its processing network. TIO symbolizes fast, convenient and secure access to expedited payment services. www.TIOnetworks.com

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 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

For further information: Derek Lai, Acting CFO, TIO Networks, Tel: [phone], Ext. 269, Email: [email protected]; John Lewis, Business Development, TIO Networks, Tel: [phone], Email: [email protected]