News

EarlyRain revenue growing slowly

March 25, 2002

CALGARY, Alberta - EarlyRain Inc. (CDNX: ERN) quarterly results as of March 31 totaled $179,507 (CA), showing an increase from the revenue of $5,493 earned during the same quarter last year. This year's quarterly revenue was nearly the total revenue of $181,764 for all of 2000.

The company's t2t software division makes the TeeMax scoring and statistics kiosk application for golf course management, including touchscreen systems for tee reservations, ballot/draw programs, proshop point of sale and handicapping. t2t introduced TeeMax in January at the PGA Merchandise Show in Orlando, Fla. t2t now has products in courses in Canada and the U.S., including a recent installation at the Winged Foot Golf Club in New York.

EarlyRain launched another product, the Affia smart card program, in Edmonton, Alberta in February in conjunction with TELUS Communications and TELUS Advertising Services. It plans on placing the multi-merchant community loyalty program in Calgary and Vancouver, British Columbia this year.

The company's net loss for the period ending March 31, 2001 was $304,822, compared with $225,513 in the first quarter of 2000. The increased loss results from personnel and development costs necessary to drive the new applications.

Additional capital will be necessary to bring the Affia program and t2t through to positive cash flow.