Vancouver, BC / TheNewswire / November 29, 2016 — Eight Solutions Inc. (TSXV:ES) (“Eight Solutions” or the “Company”) announces the release of its unaudited consolidated interim financial results for the three and nine months ended September 30, 2016.  All figures are in Canadian dollars.

Q3 2016 Financial Highlights

-Revenue for the three months ended September 30, 2016 was $637,419, and remained consistent when compared with revenue for the three months ended September 30, 2015

-Net loss attributable to the shareholders of the Company for the three months ended September 30, 2016 was $1,313,131 ($0.02 basic and diluted loss per share), and remained relatively unchanged compared to the net loss attributable to the shareholders of the Company for the three months ended September 30, 2015

-Cash flow from operating activities improved by 70% for the nine months ended September 30, 2016 when compared with revenue for the nine months ended September 30, 2015 due to the reduction of expenditures from the sale of the Company’s 3D conversion service business

-Net loss attributable to the shareholders of the Company for the nine months ended September 30, 2016 was $86,160 ($0.00 basic and diluted loss per share).  With the exclusion of all one time gains, the Company’s EBITDA for the nine months ended September 30, 2016 increased by 23% when compared to the nine months ended September 30, 2015

Q3 2016 Operational Highlights

-The Company continues to expand its Cirrus data visualization and analytics platform, launching its second forestry software module on product grading which has now been installed in several mills.  With the sawmill and planer mill modules in place, the Company continues to work towards its “Connected Mill” solution, digitalizing and integrating processes across the entire organization from product development and purchasing, through to manufacturing, logistics and service

-In addition, with its completion of a digital asset transfer system that moves assets between connected facilities in the entertainment industry, the Company’s Stratus asset management platform continues to expand.  The Company has installed beta software in several film post production companies and is now commercializing the platform to a broader customer base.

 

Q3 2016 Financial Summary

	Three Months ended
	September 30, 2016	September 30, 2015
Revenue	$ 637,418	$ 640,707
Net loss and comprehensive loss attributable to the shareholders of the Company	$ 1,313,131	$ 1,226,271
Basic loss per share	$ 0.02	$0.02

About Eight Solutions

Eight Solutions is a technology company led by a team of video game industry veterans. Eight Solutions’ flagship product is Cumul8, a data analytics and visualization platform. Cumul8 works with any type of data source to help people and companies understand, collaborate, and make better decisions with data. Eight Solutions’ business  includes an award-winning 3D software technology licensed to the film industry and Reelhouse, a unique video-on-demand platform that allows filmmakers to distribute their content directly to users. For more information, visit www.eightsolutions.com.

On Behalf of the Board of Directors

“Rory Armes”
Rory Armes
Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” “can” and other similar words, or statements that certain events or conditions “may” occur. Although Eight Solutions believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

For more Information, please contact:
Investor Relations
investor.relations@eightsolutions.com
Suite 100, 138 East 7th Avenue
Vancouver, British Columbia, V5T 1M6