Mr. Rob Bakshi reports

APIVIO ANNOUNCES THIRD QUARTER FINANCIAL RESULTS

Apivio Systems Inc. (formerly Moimstone Corp.) has released its results of operations for the nine months ended Sept. 30, 2014.

For the full condensed consolidated interim financial statements and management's discussion and analysis for the third quarter ended Sept. 30, 2014, please see SEDAR.

Third quarter 2014 highlights:

• Sales increase of 43.3 per cent to $11,072,064;
• Gross margin increase from 16.2 per cent to 18.9 per cent of revenues;
• Net loss reduced from $1,550,999 in third quarter 2013 to $201,548 in third quarter 2014;
• Earnings per share of nil compared with a loss of four cents in third quarter 2013;
• Received approval by NEC America for Android-based phone and 300 units have been shipped to date in the fourth quarter;
• Technical and marketing efforts to adapt WiFi-based platform for the North American market continue.

                             FINANCIAL HIGHLIGHTS
                             (expressed in $ Cdn) 

                                Three months ended         Nine months ended    
                                      Sept. 30,                 Sept. 30,      
                                 2014         2013         2014         2013

Total revenues            $11,072,064   $7,725,723  $35,135,436  $25,587,798
Gross profit margin              18.9%        16.2%        18.0%        15.7%
Net (loss)                  ($201,548) ($1,550,999)   ($388,180) ($2,121,923)
Basic and diluted                                                           
weighted-average                                                           
(loss) per share               ($0.00)      ($0.04)      ($0.01)      ($0.05)

In the third quarter of 2014, sales revenue increased by 43.3 per cent to $11,072,064 compared with the same quarter in 2013 due to higher demand for the company's Internet protocol phones from key customers. Gross margin for third quarter 2014 improved from 16.2 per cent to 18.9 per cent due to operational improvements. Net loss for the third quarter in 2014 was $201,548 compared with a net loss of $1,550,999 in 2013, an improvement of $1,349,451.

"The South Korean subsidiary, Moimstone, continues to progress nicely," said Rob Bakshi, president and chief executive officer. "Having completed the NEC project on time, our attention now turns to developing markets outside of South Korea. I'm looking forward to our continued progress in 2015."

We seek Safe Harbor.