WILMINGTON, Del., March 8, 2005 (PRIMEZONE) -- Further to certain press speculations in the past few days, the management of m-Wise, Inc. (OTCBB:MWIS) is clarifying that pursuant to its contract with Unefon S.A, the Company has successfully completed the installation of its MOMA Service Delivery Platform (SDP) at Unefon, a CDMA mobile operator in Mexico.
The delivery was described in form 10QSB filed with the Securities and Exchange Commission (SEC) on November 18, 2004. Revenues derived from the contract with Unefon S.A. for the nine months ended on September 30, 2004 were $659,000. The products that were installed on the customer's site were the MOMA SDP, the Content Management and Delivery Engine and the MOMA MMSC.
These products enable Unefon to rapidly launch value-added mobile services, such as content downloads, entertainment and information on demand, for its growing customer base.
Other highlights from the financial results of m-Wise, Inc. for September 2004 are:
Revenues for the third quarter rose to $900,501, up 1,047% from $78,481 in the same period last year, and up 721% from the previous quarter. The increase primarily consisted of revenues derived from the contract with Unefon S.A.
Gross profit climbed to 86% from 65% in the same period last year. Operating income was $400,104 compared to an operating loss of ($270,998) in the same period in 2003. Net income for the quarter ended September 30, 2004 was $400,104 compared with a net loss of ($358,435) in the same period last year.
Revenues for the first nine months increased 259% to $1,134,179 from $316,352 for the same period of last year. Gross profit climbed to 85% from 65% in the same period last year. Operating loss decreased to ($104,605) from ($1,422,484) in the same period in 2003. Net loss for the first nine months decreased to ($104,605) from ($1,628,027) in the same period in 2003.
About m-Wise
Founded in February 2000, m-Wise has rapidly established itself as a leading technology provider with its Service Delivery Platform and related value-added services engines. Working closely with leading operators, ASPs and content providers, m-Wise is committed to taking the lead and keeping up to date with the latest industry headways in areas as diverse as content management and delivery, infotainment, mobile gaming and mobile community services. The Service Delivery Platform, the MOMA Platform, includes carrier-grade application provisioning and development utilities, infrastructure connectivity layers, billing, global delivery, content management, and customer support tools.
Safe-Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties. m-Wise's actual results could differ materially from those discussed in such forward-looking statements based on a variety of factors not under the control of m-Wise including but not limited to, market conditions, level of investment on technology, changes in operating conditions and costs, technology developments, etc. m-Wise assumes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it was made.