CALGARY, ALBERTA--(Marketwire - Nov. 28, 2011) - Poynt Corporation (TSX VENTURE:PYN)("Poynt Corp." or the "Company"), a global leader in mobile local search and advertising, reported results for its third quarter ended September 30, 2011. All figures below are in Canadian dollars.

Q3 2011 Operational Highlights

• Poynt's user base surpassed 10.2 million by the end of the quarter, up 162% year-over-year, driving record revenue
• Signed preload agreement with Virgin Media in the U.K.
• Launched Poynt on Windows Phone 7 devices and released a localized version for BlackBerry® Playbook™ tablets in Germany, France, Italy and Spain, building upon adoption in Canada, the U.S., the U.K. and Australia
• Enhanced user features with an Offers search vertical in the U.S., providing mobile couponing

Q3 2011 Financial Results

Revenues increased 188% to a record $734,000 from $255,000 in the same year ago quarter. The improvement was primarily due to the continued increase in Poynt user adoption.

Net loss was $3.96 million or $(0.01) per basic share, compared to a net loss of $2.97 million or $(0.01) per basic share in the same quarter last year. The larger net loss was primarily due to an increased investment in engineering, business development and marketing to address growth opportunities in geographies, features, and display and platform advertising. Q3 2011 net loss included $500,000 in professional fees related to strategic initiatives in the evaluation and structuring of the Company's portfolio of opportunities and finance advisory services. Net loss for the third quarter of 2011 included $800,000 of non-cash items, comprised of $617,000 of amortization and depreciation expenses and $182,000 of stock-based compensation expenses. After adjusting for these non-cash items, Q3 2011 net cash loss was approximately $3.1 million.

At September 30, 2011, cash and cash equivalents totaled $6.7 million with a working capital surplus of $6.1 million.

Poynt User Stats

Total unique users increased 20% sequentially to 10.2 million from 8.5 million in the previous quarter, and increased 162% from 3.9 million in the same year-ago period.

Poynt Corp.'s revenue model includes user queries, page views, advertising and transactions within the Platform, with user growth a key metric that drives the Company's revenue forward globally. More Poynt users equate to increased queries, page views and transactions. Poynt provides highly contextual and relevant advertising to its user base when they perform queries. Large user numbers attract advertising customers and facilitate mobile commerce, such as daily deals and mobile couponing.

Management Commentary

"Increased user growth across all smartphone platforms drove record revenues during the third quarter," said Poynt's CEO, Andrew Osis. "These results reflect our success as we continue to take steps to pursue preload agreements, broaden geographic availability and expand platforms within the App which drive user interactions and result in revenues."

"One of these more recent steps was launching the timesPoynt platform in India, one of the largest mobile markets in the world, with The Times Group. This marked an unprecedented opportunity for Poynt to drive revenue growth and user adoption among smartphone users in India, as well as further solidify Poynt as the global leader in the delivery of mobile local search and advertising."

"To support our continued growth, we've appointed Yves Millette as President of Poynt Corp. to oversee the day-to-day operations and focus on accelerating Poynt's monetization strategies. Yves brings international operations experience from his time as President and CEO of Intuit, where he grew revenues from $65 million to $160 million."

"Through geographic expansion such as with timesPoynt in India and new preload agreements, our position in the mobile application space is strengthening. The size and growth of our user base is important to expanding the number of advertisers as well as strengthening the Platform's mobile commerce offerings like mobile couponing. As Poynt becomes available across more geographies and devices, we anticipate increased user acquisition and retention will broaden revenue streams, augmented by the monetization of our IP portfolio. In fact, we are currently working to file additional patents in the U.S. and are expecting to receive final approval on some of our pending applications in the near term."

Conference Call

Poynt Corp. will hold a conference call tomorrow (November 29, 2011) at 10:30 a.m. Eastern time (8:30 a.m. Mountain time) to discuss results for the third quarter ended September 30, 2011.

The Company's CEO, Andrew Osis, will host the presentation followed by a question and answer period.

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios Group at 1-949-574-3860.

To listen to the live webcast please go to [ http://viavid.net/dce.aspx?sid=000090E4 ]. A replay of the Webcast will be available following the conclusion of the call via Poynt's website at [ http://about.poynt.com ].

A telephone replay of the call will be available after 1:30 p.m. Eastern time (11:30 a.m. Mountain time) and until December 29, 2011.

Toll-free replay number: 1-877-870-5176

International replay number: 1-858-384-5517

Replay pin #: 4490607

As previously announced, as a result of the review and change over to IFRS (International Financial Reporting Standards), it was concluded that the accounting rules required the Company to restate its 2010 financial statements. The Company has now completed the restatement of the 2010 first, second and third quarter financial statements and management analysis and discussion.

Accordingly, with the concurrence of the Company's Board of Directors and audit committee, Poynt has restated its 2010 financial statements to reflect higher values assigned to two patents and one pending patent acquired in the Unomobi asset purchase ("the Transaction"). These patents have priority to 1999 and concern the pushing of commercial offers to users of GPS-equipped portable wireless devices who provide limited profile data. The adjustment was required due to accounting rules requiring the share price on the date of closing of the Transaction be used when determining the purchase price. This required the Company to adjust the share price on the date of closing of the Transaction (February 16, 2010) when determining the purchase price. Based on the closing price of the Company's common shares of $0.27 on February 16, 2010, the share-based consideration has been restated to a total of $25.6 million. Previously, the Company recorded the Transaction using $0.065 per share based on an average closing price over a reasonable period before and after the date on which the terms of purchase consideration was agreed to and announced with a total share based consideration of $6.2 million. The restatement has resulted in an increase to the purchase price allocation, net of future taxes, to the acquired patent portfolio of $19.5 million, from $7.9 million to $27.4 million. The restatement affects the value of the intangible assets, the amortization of the intangible assets and future income taxes related to the amortization.

A copy of the Company's consolidated financial statements and restated management's discussion and analysis that can be found on SEDAR at [ www.sedar.com ]

About the Poynt Platform

Poynt is a convenient and timesaving GPS-enabled mobile local search and advertising platform that connects consumers to local offers, businesses, events, restaurants, movie theatres, gas prices and weather information at the moment they are looking to buy or acquire products or services. Poynt provides consumers with the ability to move beyond discovery of their local area to view movie trailers and reviews, buy movie tickets, click-to-call businesses, get directions, browse listing websites, read reviews and book dining reservations or find and interact with local coupons and offers.

Poynt provides contextual and relevant advertising to users performing local queries and its revenue model is based on user queries, page views, advertising and transactions within the platform. Each user query generates several page views, which are monetized through display advertising and sponsored listings paid for by advertisers. These advertising placements generate revenues on a cost per thousand impressions (CPM) basis or on a cost per click (CPC) basis. Transactions, such as ticket sales and restaurant reservations, also contribute to revenues on a fee for service basis.

About Poynt Corporation

Poynt Corp. (about.poynt.com) is a global leader in the mobile local advertising space. Its Location Based Search (LBS) and advertising platform, Poynt ([ www.poynt.com ]), enhances a user's ability to connect with the people, businesses and events most important to them. Poynt is available on Android, iPhone, Windows Phone and Nokia devices, along with BlackBerry smartphones and BlackBerry PlayBook Tablets in Canada, the United States, Europe, India and Australia. Poynt Corp. entered the mobile publishing space with the acquisition of an advertising publishing platform in January 2011. Key contracts on both the supply and demand sides are in place to provide inventory into the platform and publishers to display the inventory. Whether through the Poynt Local Search App or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN.

Important Cautions Regarding Forward-looking Statements

This news release contains forward-looking statements relating to the Companies revenue model including the addition of new users, increased advertising inventory, the ability to attract more advertisers the Company's monetization efforts and the timing of receipt of approval of patent applications. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.

These forward-looking statements are based on certain key assumptions regarding, among other things: the ability of the Company to monetize its platforms, the continued successful development, implementation and execution of the Poynt local search platform, the ability to protect the Company's intellectual property and conditions in general economic and financial markets. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: risks that the Company will not be able to successfully monetize the platform; that the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in the Company's target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products and fee structures; the success of the Company's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of new for the Company's products.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Poynt Corporation

Consolidated Balance Sheets

(Unaudited - Expressed in Canadian Dollars)

Poynt Corporation

Consolidated Statement of Operations

(Unaudited - Expressed in Canadian Dollars)

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. Apple App Store and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Windows is a registered trademark of Microsoft Corporation in the United States and other countries. Android is a registered trademark of Google Inc. Nokia is a registered trademark of Nokia Corporation.

Contributing Sources

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