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Gold/Mining/Energy : Cybersurf (CY.A) - Bridge between 20th & 21st Centuries -- Ignore unavailable to you. Want to Upgrade?

To: donkeyman who wrote (801)	3/2/1999 12:45:00 AM
From: alan holman	Read Replies (1) \| Respond to of 3243

CYBERSURF ANNOUNCES POSITIVE EARNINGS FOR PERIOD ENDED DECEMBER, 1998 990301 - CYBERSURF CORP(CY) - CALGARY, ALBERTA Management is pleased to report the following results for the six months ended December 31, 1998. Financial: The earnings for the period were $458,741 (3 cents per share) as compared to a loss of $378,931 in the same period of the prior year. Revenues were $2,036,945, up from $909,455 in the prior year. Revenues increased significantly due to the major sale of 55% of the Edmonton 3web license to Growth Technologies '98 Limited Partnership. The large increase in gross margin is again due to the high margin on the software sale, but contributing to this increase was the CRTC's approval to reduce phone line charges, effective August, 1998. General and Administration expenses were higher by 10% due to higher selling costs and additional office space. Cash flow from operations was $705,111 (4 cents per share) compared to an outflow of $210,702 in the prior year. Operations: Cybersurf plans to launch a 3web service in Edmonton this month. This unique free Internet, e-mail and new media service can be followed on the 3web site - www.3web.net . Management is continuously exploring various strategic business alliances to accelerate growth, which ultimately will increase shareholder value. Cybersurf is a communication company in the business of developing and marketing software and connectivity tools. Our goal is to enhance the use of telecommunications hardware and to develop unique software, which has substantial potential for businesses and consumers. The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. For further information please contact William Hammett at Cybersurf Corp (403) 777-2000 www.cybersurf.net www.3web.net E-mail: info@cybersurf.net