Uniserve 3rd Quarter Results for the period ended February 28, 2022

Uniserve Communications Corporation

 (the “Company” or “Uniserve”) (TSXV: USS) a provider of IT solutions and services to business and residential customers in Canada wishes to announce third quarter and year to date fiscal 2022 financial results. Q3 and Q3 year to date fiscal 2022 revenue increased by 17% and 8% respectively as compared to the same periods in the prior fiscal year. Q3 fiscal 2022 Net Income was $76K and Q3 year to date fiscal 2022 Net Income was $342K, as compared to Net Income of $24K and Net loss of $294K respectively for the prior year fiscal periods. The Company will continue to focus on its operating results in fiscal 2022 by continuing to implement operational efficiencies, grow recurring revenues and enhance value added for its customers.

Uniserve Communications Corporation
Consolidated statements of comprehensive Income (loss)
(Expressed in Canadian dollars)
	Three months ended February 28								Nine months ended February 28
		2022				2021				2022				2021
Revenue	$	2,099,430			$	1,791,308			$	5,734,848			$	5,319,410
Cost of revenues		1,225,476				964,286				3,217,385				3,038,137
		873,954				827,022				2,517,463				2,281,273
Expenses
Operations and service delivery expenses		547,132				506,239				1,447,345				1,636,314
Sales and marketing		139,195				142,506				379,375				407,256
Amortization of property and equipment		79,193				94,659				251,597				331,508
Amortization of intangible assets		13,529				17,322				43,017				56,017
		779,049				760,726				2,121,334				2,431,095
Operating Profit (Loss)		94,905				66,296				396,129				(149,822	)
Other Expenses (Income)
Finance charges		24,336				55,435				107,255				183,834
Gain on foreign exchange		(314	)			(1,007	)			(1,545	)			(27,797	)
Gain on settlements and reversals of debts		(1,849	)			(6,000	)			(40,478	)			(6,000	)
Finance Income		(3,731	)			(6,138	)			(10,812	)			(6,138	)
		18,442				42,290				54,420				143,899
Net and Comprehensive Income (Loss) for the period	$	76,463			$	24,006			$	341,709			$	(293,721	)

About Uniserve

Uniserve Communications Corporation is a 2018 TSX Venture top 50 performance company.Uniserve is a unified communications company which has been in business for 30 years, combining voice, data and media services all into one seamless solution, one bill and one point of contact.

This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.

Learn more at www.uniserve.com or at www.sedar.com.

Walter Schultz Chairman of the Board

For more information please call 604-395-3961 or email [e-mail].

Neither TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Management has prepared this release and no regulatory authority has approved or disapproved the information contained herein. The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management’s estimates, assumptions and projections using available information. Uniserve cautions that actual financial results could differ materially from the current expectations due to a number of factors.