Mr. Johnson Joseph reports

PEAK FILES SECOND QUARTER 2014 RESULTS

Peak Positioning Technologies Inc. has released its financial results and has reviewed highlights for the three-month period ended June 30, 2014.

Financial results:

• A 12-per-cent reduction in total expenses compared with the previous quarter totalling $278,061;
• Net loss at $271,021.

Operating highlights:

• Closing of the acquisition of the assets of the Quickable marketplace;
• Significant progress toward the acquisition of LongKey Hong Kong Ltd.

Second quarter financial results summary

Peak generated Web development service revenues of $7,040 for the three months ended June 30, 2014, for a cumulative amount of $20,600 for the six-month period ended June 30, 2014. While last year, the revenues were generated in royalties from its activities in China. The royalties amounted to $72,500 and $297,649 for the three months and six months ended June 30, 2013, respectively. The minimum revenue guarantee clause ended in March, 2013, explaining the reduction to June, 2013. The royalties stopped in the third quarter of 2013, which explains that no royalties were generated in the first and second quarters of 2014.

Expenses for the second quarter amounted to $278,061 compared with $434,778 in the comparable period of 2013. The reduction is mainly due to the decision of the management to the temporary layoff of the development team.

The net loss for the three-month period ended June 30, 2014, was $271,021 compared with $362,278 in the comparable period of 2013.

Full details of the company's second quarter 2014 financial results can be found in the unaudited consolidated financial statements and management's discussion and analysis for the three-month periods ended March 31, 2014, and 2013, which are available at SEDAR.