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AKM

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Share Name Share Symbol Market Type
TSXV:AKM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

ACT360 Solutions Announces Financial Results for Quarter Ended March 31, 2013

07/05/2013 8:00pm

Marketwired Canada


ACT360 Solutions Ltd. (TSX VENTURE:AKM) (the "Company" or "ACT360 Solutions"), a
provider of Internet-based testing and international marketing programs for
higher education, announced its unaudited financial results for the quarter
ended March 31, 2013. Results are in Canadian dollars and were prepared in
accordance with International Financial Reporting Standards.




---------------------------------------------------------------------------
                                               Three Months    Three Months
                                                      Ended           Ended
                                             March 31, 2013  March 31, 2012
---------------------------------------------------------------------------
Sales                                              $285,920        $169,325
---------------------------------------------------------------------------
Net Income (Loss)                                   ($6,487)        $14,913
---------------------------------------------------------------------------
Earnings (Loss) per share                            ($0.00)          $0.00
---------------------------------------------------------------------------
Total Assets                                       $356,375        $275,979
---------------------------------------------------------------------------



For the three months ended March 31, 2013, the Company's revenue increased by
69% to $285,920 compared to revenue of $169,325 for the same period in the
previous year.


TestDEN Higher Education revenues, derived from the Company's proprietary
language training products and international student marketing service, rose by
77% compared to the prior year quarter. The Company's international student
marketing service showed continued growth during the quarter with sales rising
190% year over year. Increased marketing budget allocation from the Company's
existing higher education clients drove the increase in sales. Consumer
e-commerce sales were steady during the quarter, while TestDEN B2B sales grew
38% year over year with new orders from channel partners.


On a consolidated basis for the three months ended March 31, 2013, the Company
had a net loss of $6,487 on sales of $285,920 compared to a profit of $14,913 on
sales of $169,325 during the same period in the previous year.


Excluding non-cash stock based compensation expense of $21,515 for stock options
granted during the quarter, the Company had an operating profit $15,028 for the
three months ended March 31, 2013.


On a consolidated basis, expenses were $292,704 in the second quarter ended
March 31, 2013 compared to $154,413 in the second quarter ended March 31, 2012.
Selling, office, and general expenses were higher as the Company allocated
greater resources towards global branding and business development activities to
support TestDEN Higher Education revenue.


The unaudited consolidated financial statements and Management Discussion and
Analysis for the quarter ended March 31, 2013 are available at www.sedar.com.


About ACT360 Solutions Ltd.

ACT360 Solutions helps colleges and universities qualify and recruit
international students. We are committed to assisting students from South
America, Europe, Africa, the Middle East, and Asia achieve their study abroad
goals.


FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding revenue estimates and future plans and objectives of ACT360 Solutions
Ltd. - are forward-looking statements that are subject to various risks and
uncertainties. Forward-looking statements are based on current expectations and
analyses, including the effects of anticipated product, service, and
distribution changes and the potential benefits of such efforts and activities
on the Company's results of operations in future periods. There can be no
assurance that such statements will prove to be accurate; actual results and
future events could differ materially from those anticipated in such statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
ACT360 Solutions Ltd.
Vincent Wong
President
604-638-1553 ext. 1
www.act360.com

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