Mr. Max Liszkowski reports

IPLAYCO ANNOUNCES FINANCIAL RESULTS FOR ITS FIRST QUARTER ENDED DECEMBER 31, 2015

Iplayco Corp. Ltd. has released financial results for its first quarter ended Dec. 31, 2015. All amounts are in Canadian dollars unless otherwise noted.

This news release contains financial information derived from Iplayco's unaudited condensed consolidated interim financial statements for the three months ended Dec. 31, 2015. More detailed information can be found in the corporation's unaudited condensed consolidated interim financial statements and management discussion and analysis for the three months ended Dec. 31, 2015, which are being filed with the applicable Canadian regulatory authorities.

"Although sales and net income have decreased during the three months ended Dec. 31, 2015 [the first quarter of 2016], as compared to the three months ended Dec. 31, 2014 [the first quarter of 2015], we are anticipating a quick turnaround with sales and net income expected to increase moderately for the three months ending March 31, 2016 [the second quarter of 2016], as compared to [the first quarter of 2016]," said Scott Forbes, president and chief executive officer and director of Iplayco.

Results for the three months ended Dec. 31, 2015, as compared with the three months ended Dec. 31, 2014

Sales decreased by 16.8 per cent to $3,618,561 in the first quarter of 2016 from $4,349,720 in the first quarter of 2015. Gross profit percentage decreased to 39.3 per cent of sales in the first quarter of 2016 from 41.6 per cent in the first quarter of 2015. Operating expenses, including foreign exchange gains and losses and finance costs, decreased to $1,179,052, or 32.6 per cent of sales, in the first quarter of 2016 from $1,506,298, or 34.6 per cent of sales, in the first quarter of 2015. Net income decreased to $176,773, or diluted net income per share of one cent, in the first quarter of 2016 from $220,309, or diluted net income per share of one cent, in the first quarter of 2015.

Results for the three months ended Dec. 31, 2015, as compared with the three months ended Sept. 30, 2015 (the fourth quarter of 2015)

Sales decreased by 31 per cent to $3,618,561 in first quarter of 2016 from $5,244,429 in the fourth quarter of 2015. Gross profit percentage increased to 39.3 per cent of sales in first quarter of 2016 from 34.2 per cent in the fourth quarter of 2015. Operating expenses, including foreign exchange gains and losses and finance costs, decreased to $1,179,052, or 32.6 per cent of sales, in first quarter of 2016 from $1,517,643, or 28.9 per cent of sales, in the fourth quarter of 2015. Net income decreased to $176,773, or diluted net income per share of one cent, in first quarter of 2016, as compared with $216,409, or diluted net income per share of one cent, in the fourth quarter of 2015.

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