[Burnaby, BRITISH COLUMBIA] Info Touch Technologies announced strong revenue growth for the
fiscal year ended July 31, 2000. Revenues increased 87% to $4.3 million (CDN) from $2.3 million in the
previous year. The loss for the period was $1.7 million, up from $0.5 million for the same period last year.
Info Touch manufactures and markets state-of-the-art kiosks that allow the public to access the Internet.
Info Touch developed Surfnet Premiere, a leading kiosk and secure e-commerce software package.
The decrease in net income is attributable to the company’s recent strategic initiative to co-capitalize the
sale of its Internet-enabled kiosks for the purpose of retaining an equity stream in the future e-commerce
and advertising revenues and develop its infrastructure to provide a vertical integration of its kiosk
products and services.
As in previous quarters, the company continued its marketing program and the development of business
relations with prospective clients in the retail industry. In addition, the company has continued to develop
its kiosk management and logistic services to enhance future revenue streams and develop its network of
kiosks as inventory for its advertising division.
Four days ago, Info Touch announced the brokered private placement with Canaccord Capital for up to
1,363,000 units. Closed last week were 730,000 units at $1.10 per unit for gross proceeds of $803,000.
The company plans to use the proceeds to continue its rapid market penetration strategy to increase
top-line revenue growth and market share. This strategy includes the co-capitalization of kiosk networks
with strategic partners to share in recurring revenue streams generated from e-commerce initiatives. In a
recent study the kiosk co-venture with Chapters Inc. bookstores was cited by industry observers as one
of the most successful integrations of retailing and e-tailing in North America.
Earlier in December, nject, (formerly Healthnet International Inc.), announced that it entered into
partnership with Info Touch to upgrade Info Touch’s corporate Web site, their Surfnet Premiere portal site
and their kiosk-management.com portal. nject, a Web design and marketing firm, also entered into an
agreement with Info Touch to co-develop ‘bricks and clicks’ initiatives. nject is also in the process of
developing new Web sites for new clients iDEVCO and HealthChek.