Mr. Barry Sparks reports

NAMSYS REPORTS RESULTS OF OPERATIONS FOR FISCAL 2019

Namsys Inc. has released the results of operations for the fiscal year ended Oct. 31, 2019.

Revenue from operations for the 12 months ended Oct. 31, 2019, was $4,118,500, as compared with $3,242,073 in fiscal 2018. Net income was $1,298,997 (five cents per share) for fiscal 2019, as compared with $1,147,567 (four cents per share) for fiscal 2018. Income tax expense for 2019 was approximately $130,000 higher than the 2018 amount.

The audited financial statements and management's discussion and analysis for fiscal 2019 are available on the company's profile on SEDAR.

K. Barry Sparks, chief executive of Namsys, stated: "Fiscal 2019 was another good year for the company with gross revenue increasing by in excess of 30 per cent over that achieved in 2018. The Cirreon SaaS group of applications, sold on a subscription basis, continue to make excellent progress in the marketplace. The company also added new distributors in 2019. These new partners will be contributing to the continued growth of the Cirreon SaaS products in 2020. This, along with new applications introduced in late 2019, auger well for the fiscal 2020 results."

About Namsys Inc.

Namsys products are designed to bring efficiency to the processing of currency and other value instruments in financial institutions, retailers, public transportation operations and the gaming industry.

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