ZIM Corporation reports second quarter 2008 financial results

    OTTAWA, Nov. 15 /CNW Telbec/ - ZIM Corporation (OTCBB: ZIMCF), a mobile
content, Enterprise Database Software, and Internet TV service provider; today
announced its financial results for its second quarter ended September 30,
2007. All figures presented are calculated in accordance with generally
accepted accounting principles (GAAP) in the United States and presented in
US dollars.
    Revenue for the quarter ended September 30, 2007 was $446,686, a decrease
from $580,913 for the quarter ended September 30, 2006. As previously
announced, ZIM's decrease in revenue is primarily attributable to the decline
in revenue from our SMS aggregation services caused by the continued
saturation of the aggregation market.
    Net loss for the quarter ended September 30, 2007 was $101,207, or a
basic and diluted loss per share of $0.001. The net loss for the quarter ended
September 30, 2006 was $369,991, or a basic and diluted loss per share of
    "Consistent with previous announcements, our decrease in revenues is
attributed to the decrease in our SMS aggregation revenues. We have reduced
operating expenses and continue to look for additional savings as we pursue
opportunities related to our Internet TV, Mobile Content and Database
platforms" said Dr. Michael Cowpland, President and CEO of ZIM.
    ZIM had cash of $209,741 as at September 30, 2007 as compared to $578,883
for the period as at September 30, 2006 and $ 319,561 at June 30, 2007. As at
September 30, 2007, ZIM also had an amount due to the chief executive officer,
who is also a shareholder, of $49,740 with no amounts due to financial

    About ZIM

    ZIM is a mobile content, Enterprise Database Software and Internet TV
service provider. Through its global infrastructure, ZIM provides publishing
and licensing services for market-leading mobile content and for Internet TV
broadcasting. Prior to entering the mobile industry, ZIM was solely a
developer and provider of the Zim Integrated Development Environment software,
which continues to be used by companies in the design, development, and
management of information databases. For more information on ZIM and its
customers, partners and products, visit: www.zim.biz.

    This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, including statements related to the success of ZIM's
mobile services and ZIM's ability to enter the Internet TV market. All
forward-looking statements made in this press release relating to expectations
about future events or results are made as of, and are based upon information
available to ZIM as of, the date hereof. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to differ
materially from those described or implied by any forward-looking statements.
Factors that might cause such a difference include, but are not limited to,
ZIM's limited operating history, ZIM's history of operating losses and
expected future operating losses, ZIM's ability to obtain additional financing
when needed, ZIM's ability to continue as a going concern, ZIM's reliance on
wireless carriers to market and use its applications and services, possible
fee increases by third party service providers, the potential loss of services
of Dr. Michael Cowpland and other key personnel, rapid developments in
technology, including developments by competitors, possible internal controls
deficiencies and possible accounting adjustments resulting from our
quarter-end accounting and review procedures, ZIM's ability to maintain
current reporting under the Securities Exchange Act of 1934, and ZIM's ability
to successfully integrate any acquisition. Please refer to ZIM's filings with
the SEC for additional information regarding risks and uncertainties. Copies
of these filings are available through the SEC's website at www.sec.gov. ZIM
assumes no obligation to revise or update publicly the forward-looking
statements included in this news release, other than as required by law.

For further information:

For further information: John Chapman, CFO, ZIM Corporation, (613)
727-1397 ext. 121, investorrelations@zim.biz

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