Mr. Sylvain Boucher reports

FIRST QUARTER RESULTS FISCAL YEAR ENDED SEPTEMBER 30, 2015 - ERGORESEARCH REPORTS ITS RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2015

Ergoresearch Ltd. has released its results for the first quarter ended Sept. 30, 2015.

Results for the first quarter of fiscal year 2016 ended this past Sept. 30, 2015, totalled $3,535,534 decreasing by 14.5 per cent compared with revenues of $4,137,111 for the quarter ended Sept. 30, 2014.

Cash flow from operating activities amounted to negative $505,364 for the first quarter ended on Sept. 30, 2015, compared with $872,259 for the same period last year. The company recorded in 2014 non-recurring income related to the monetization of its sleep apnea technology in the amount of $694,057.

Net income after tax of the corporation reached $22,594 for the first quarter of 2016 compared with $308,431 for the same period last year.

Earnings before interest, taxes, depreciation and amortization reached $270,019 compared with $673,270 for the same period last year.

The decline in the result is due to the lower traffic generated by the closure of some offices, market developments and increased competition in Quebec.

Sylvain Boucher, president and chief executive officer, stated:

"The company has completed three major initiatives for the period ending June 30, 2015. Our current priorities and development plans include the following:

• "Strengthened by our cash position, reactivate the exploration of potential acquisitions in Quebec and across Canada;
• "Developing a multidisciplinary approach that unites Equilibre with dedicated orthopedic health professionals under one roof;
• "Continuing to market the OdrA brace;
• "Turning a profit from investment in our ERP-Health platform by increasing the group's efficiency and effectiveness;
• "Continuing our investments in research and development."

We seek Safe Harbor.