Apivio Announces Third Quarter Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 25, 2014) - Apivio Systems Inc. (formerly Moimstone Corporation) ("Apivio" or the "Company") (TSX VENTURE:APV) reports its results of operations for the nine months ended September 30, 2014.

For the full condensed consolidated interim financial statements and management discussion & analysis for the third quarter ended September 30, 2014, please see SEDAR at www.sedar.com.

Third Quarter 2014 Highlights:

• Sales increase of 43.3% to CAD $11,072,064;
• Gross margin increase from 16.2% to 18.9% of revenues;
• Net Loss reduced from $1,550,999 in Q3 2013 to $201,548 in Q3 2014;
• Earnings per share of $0.00 compared to ($0.04) in Q3 2013;
• Android-based phone for NEC America received approval by NEC and 300 units have been shipped to-date in the fourth quarter;
• Technical and marketing efforts to adapt Wi-Fi based platform for the North American market continue.

[expressed in $CAD]	Three Months Ended September 30,		Nine Months Ended September 30,
	2014	2013	2014	2013
Total Revenues	$11,072,064	$7,725,723	$35,135,436	$25,587,798
Gross Profit Margin	18.9%	16.2%	18.0%	15.7%
Net Loss	($201,548)	($1,550,999)	($388,180)	($2,121,923)
Basic and Diluted Weighted Average
Loss per Share	($0.00)	($0.04)	($0.01)	($0.05)
Total Assets	$13,966,531	$12,631,740	$13,966,531	$12,631,740

In the third quarter of 2014, sales revenue increased by 43.3% to CAD $11,072,064 compared to the same quarter in 2013 due to higher demand for our IP phones from key customers. Gross margin for Q3 2014 improved from 16.2% to 18.9% due to operational improvements. Net Loss for the third quarter in 2014 was CAD $201,548 compared to net loss of CAD $1,550,999 in 2013, an improvement of CAD $1,349,451.