-- Nine Months Revenues of $1,976,469 versus $1,134,179
-- Nine Months Gross profit of $1,539,910 versus $961,177
WILMINGTON, Del., Nov. 14, 2005 (PRIMEZONE) -- m-Wise, Inc. (OTCBB:MWIS), a leading technology provider of mobile content solutions for operators, ASPs, and content providers, today announced its consolidated financial results for the nine months ended, September 30, 2005.
Financial Results
Revenues for the nine months ended, September 30, 2005 rose to $1,976,469, up 74% from $1,134,179 in the same period last year. The increase primarily consisted of $1,135,350 revenues derived from our contract with First Advanced Multi-Media Entertainment.
Gross profit for the nine months ended, September 30, 2005 climbed 60% to $1,539,910 from $961,177 in the same period last year. Net loss for the nine months ended, September 30, 2005 increased 171% to $283,349 from a net loss of $104,605 in the same period last year.
"We are committed to continue and create value to our constantly growing shareholders base," said Shay Ben-Asulin, chairman and co-founder of m-Wise, Inc. "Our focus continues to be on maximizing revenues off our products, seeking lucrative synergetic acquisitions and strengthening our balance sheet."
About m-Wise
Founded in February 2000, m-Wise has rapidly established itself as a leading technology provider with the de facto Service Delivery Platform and related value-added data engines for Mobile Operators, Wireless ASPs, and large content and media providers. Working closely with leading operators, ASPs and content providers, m-Wise is committed to take the lead and keep up to date with the latest industry headways in areas as diverse as content management and delivery, infotainment, mobile gaming and mobile community services. For more information, please visit www.m-wise.com. Safe-Harbor Statement
This press release contains "forward-looking statements". These forward-looking statements use words such as "believes", "intends", "expects", "may", "will", "should", "plan", "projected", "contemplates", "anticipates" or similar statements. These statements are based on our beliefs, as well as assumptions we have used based upon information currently available to us. Because these statements reflect our current views concerning future events, these statements involve risks, uncertainties and assumptions. Actual future results may differ significantly from the results discussed in the forward-looking statements. A reader, whether investing in our common stock or not, should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.