Open EC Technologies, Inc. Reports Fiscal Quarter Ended March 31, 2012 Results With 432% Increase in Revenue

Open EC Technologies, Inc. ("Open EC" or the "Company") (TSX VENTURE:OCE)
reported today the financial and operating results for the quarter ended March
31, 2012.


Highlights for the Quarter Ended March 31, 2012

Highlights of the financial performance during the quarter ended March 31, 2012
(Q3 2012) as compared to last year Q3 2011 quarter ended March 31, 2011 are as
follows:




--  The Company increased Q3 revenues 73% to $597,482 for the quarter as
    compared to Q3 2011 revenues of $344,936. 
--  The EBITDA was ($142,700) for the quarter, compared to the EBITDA of
    ($44,905) last year Q3 2011. 
--  The Q3 2012 EBITDA ($142,700) improved by 55% over Q2 2012 EBITDA of
    ($222,213) 
--  Of the total revenue, 88% was Recurring Revenue, an increase of 716%
    over last year. 
--  The total Q3 recurring revenue increased 6% to $527,668 over Q2
    recurring revenue of $498,084 
--  Of the total revenue, $3,591 was Software License revenue, a decrease of
    $191,280 over last year. 
--  Of the total revenue 11% was Professional Services revenue, a decrease
    of 22% over last year. 
--  Contracts invoiced but not yet earned by the Company as at March 31,
    2012 in the amount of $81,247 were not included in revenue. 
--  Gross Profit increased to $383,903 compared to last year of $191,512, an
    increase of $192,391. 
--  The company's assets decreased by 22% to $1,841,963 compared to last
    year end of $2,366,050 
--  The Company continued to develop its business in the US health-care
    sector by increasing its HealthCare recurring revenue to approximately
    77% of total revenue in the quarter.



Martyn Armstrong, CEO of Open EC States, "We are pleased with our overall Q3
Financial Results and in particular our strong growth of 716% in recurring
subscription revenue contribution from our HealthCare business, the improving
EBITDA measurement over Q2 2012, and reaching a quarterly record of 88% of Total
Revenue that was recurring. The Company's Software Licencing Revenue reductions
in the quarter are partly based on the increased focus on developing new
products, Recurring Revenue contracts, and channel revenue partners. With the
addition of several new HealthCare Software Partners, Billing Service customers,
and with the execution of several strategic partner projects, we expect to
continue to see strong growth in our recurring revenue business going forward.
We are continuing to see an increase in new business opportunities driven by the
US Government HealthCare reform mandate for industry adoption of the new HIPAA
5010 EDI Standards and ICD10 Medical Billing Coding standards. We are looking
forward to more positive financial results in the US HealthCare sector as we
continue to execute our aggressive business expansion strategy".


The revenues for the quarter were $597,482 with an EBITDA of ($142,700) as
compared with revenues of $344,936, an increase of 73%, and an EBITDA of
($44,905) last year. 


The reported net loss for the quarter ended March 31, 2012 was $276,097,
compared to $67,494 last year, an increase of 309%. The increase in loss was
primarily due to amortization of intangible assets and interest costs as a
result of financing the purchase of i-Plexus and increase in general and
administrative expenses.


The year to date revenues for the nine months ended March 31, 2012 were
$1,860,596 with an EBITDA of ($441,604) as compared with revenues of $652,320,
an increase of 185%, and an EBITDA of ($338,858) last year.


The company's available cash at March 31, 2012 was $50,754, a decrease of
$396,631 from the June 30, 2011 balance of $447,385. The company's accounts
receivable of $346,242 as at March 31, 2012 was up from $307,765 at June 30,
2011. The company's total liabilities decreased to $1,493,515 as at March 31,
2012 from $1,554,154 at June 30, 2011. Total working capital (total current
assets less total current liabilities) as at March 31, 2012 decreased by 72% to
($488,415) from ($283,983) as at June 30, 2011.


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 increased Open EC's share of the HealthCare EDI and Revenue
Cycle Management market in the United States.


The comparative financial statements for the quarter ended March 31, 2012, 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 Technologies is an e-Business Information Technology company with our
corporate head office, marketing and development in Vancouver, BC, main
HealthCare IT Solutions Operations office in San Antonio, Texas and Medical
Practise Billing Operations office in Spring Hill, Florida. The company has
software development and data center hosting operations in Maine, with Sales and
Executive Management staff in Atlanta Georgia. 


The Company's focus is to provide software solutions and transaction processing
services to assist Physicians, Hospitals, Health Plans, Insurance Brokers and
State Governments to exchange information for HIPAA EDI Health Plan Enrolment,
Health Insurance Eligibility, Health Insurance Claims, Claim Payments and
HealthCare Provider Collaboration of supporting patient referral and industry
compliance/reporting documentation.


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.