Open EC Technologies, Inc. Reports Fiscal 2011 Results with 113% Increase In Revenue

Open EC Technologies, Inc. ("Open EC" or the "Company") (TSX VENTURE:OCE)
reported today the consolidated financial and operating results for the year
ended June 30, 2011.


The revenues for the year increased 113% to $1,573,409 with EBITDA improving 48%
to ($403,747) as compared with revenues of $737,183 and an EBITDA of ($778,653)
last year. 


The reported net loss for the year ended June 30, 2011 reduced 20% to $702,147,
compared to $873,957 last year. The decrease in loss was primarily due to the
increase in software licensing revenue and the addition of new subscription
based Medical Claims Clearing and Billing Revenue.


The company's available cash and short term investments at June 30, 2011 was
$447,385, a decrease of 4% from the June 30, 2010 balance of $465,742. The
company's accounts receivable increased 248% to $307,765 as at June 30, 2011
from $88,362 at June 30, 2010. The company's total liabilities increased 454% to
$1,464,258 as at June 30, 2011 from $264,250 at June 30, 2010. Total working
capital (total current assets less total current liabilities) as at June 30,
2011 decreased 183% to ($252,812) from $306,019 as at June 30, 2010.


Highlights for the Quarter Ended June 30, 2011

Highlights of the consolidated financial results during the fourth quarter ended
June 30, 2011 compared to last year's fourth quarter ended June 30, 2010 are as
follows:




--  Fourth quarter revenues were $594,397, an increase of $504,652 (562%)
    compared to revenues of $89,745 in the same quarter last year. Of that
    amount, 75% was recurring revenue compared to 57% last year. 
--  Gross Profit was $364,162 for the fourth quarter compared to ($15,288)
    in Q4 last year. 
--  EBITDA was ($172,176) for the fourth quarter compared to ($361,217) in
    Q4 last year, a decrease in loss of 52%. 
--  The Net Loss in the fourth quarter was ($311,022) compared to ($384,561)
    in Q4 last year, a decrease of 19%. 
--  The company's assets at June 30, 2011 were $2,342,865 compared to
    $939,298 last year, an increase of 149%.



The Company continued to develop its business in the US health-care sector and
is rapidly increasing its recurring revenue. The Company has over 5,500 US
Medical Physician and Billing Service customers under subscription revenue
agreements which has materially increased Open EC's share of the HealthCare EDI
and Revenue Cycle Management market in the United States. 


Martyn Armstrong, CEO of Open EC States, "We are very pleased with our overall
Fiscal Year and Q4 F2011 financial results. In particular, our strong growth in
recurring subscription revenue from our HealthCare EDI Claims Processing
business. With the addition of recently announced subscription revenue
development agreements with Gen4 Solutions, and the revenue launch of the
NetCare subscriptions to our VeraPoint Care Collaboration Platform we expect to
continue to see strong growth in our recurring revenue business."


The comparative financial statements for the year ended June 30, 2011, along
with other information, may be obtained through the Company's website at
www.openec.com or on SEDAR at www.sedar.com.


About Open EC Technologies, Inc. 

Open EC is a TSX Venture Exchange listed company. Its subsidiary, SoftCare EC
Solutions Inc. is an e-business software, services and solution provider.
SoftCare's OpenEC(R) TradeLink e-business software includes solutions for
Electronic Data Interchange (EDI), Healthcare Interoperability and Business
Process Management. The Company sells the OpenEC(R) products and solutions to
the healthcare, financial services and retail supply chain in North America. The
company has a growing focus on turnkey solutions for US Healthcare Information
Technology Reforms funded by the US Federal Government ARRA programs for
Healthcare IT Interoperable mandates. Additional product and solution
information is available on the web at www.SoftCareHealthcare.com,
www.iPlexus.net and www.softcare.com and additional public company information
is available on the web at www.openec.com. The Company's common shares trade on
the TSX Venture Exchange under the symbol: OCE.


ON BEHALF OF THE BOARD

Martyn A. Armstrong, President and CEO

Further information about the Company can be found on SEDAR (www.sedar.com) or
by contacting Mr. Martyn A. Armstrong, President & CEO of the Company 


This news release may contain forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995. Forward-looking statements
address future events and conditions and therefore, involve inherent risks and
uncertainties. Actual results may differ materially from those currently
anticipated in such statements.