OCE Open EC Technologies

Open EC Technologies, Inc. ("Open EC" or the "Company") (TSX VENTURE:OCE)
reported today the financial and operating results for the quarter ended
December 31, 2011.


Highlights for the Quarter Ended December 31, 2011

Highlights of the financial performance during the quarter ended December 31,
2011 (Q2 2012) as compared to last year Q2 2011 quarter ended December 31, 2010
are as follows:




--  The Company increased Q2 revenues 534% to $661,606 for the quarter as
    compared to Q2 2011 revenues of $104,299. 
--  The EBITDA was ($222,213) for the quarter, compared to the EBITDA of
    ($228,662) last year Q2 2011. Included in EBITDA are non-cash share-
    based payments of $115,151. 
--  Of the total revenue, 75% was Recurring Revenue, an increase of 717%
    over last year. 
--  Of the total revenue, 17% was Software License revenue, an increase of
    $110,046 over last year. 
--  Of the total revenue 8% was Professional Services revenue, an increase
    of 24% over last year. 
--  Contracts invoiced but not yet earned by the Company as at December 31,
    2011 in the amount of $102,989 were not included in revenue. 
--  Gross Profit increased to $456,635 compared to last year of $13,931, an
    increase of $442,704. 
--  The company's assets decreased by 10% to $2,125,065 compared to last
    year end of $2,366,050 
--  The Company continued to develop its business in the US health-care
    sector by increasing its HealthCare recurring revenue to approximately
    80% of total revenue in the quarter.



Martyn Armstrong, CEO of Open EC States, "We are very pleased with our overall
Q2 Financial Results and in particular our strong growth of 717% in recurring
subscription revenue contribution from our HealthCare business. With the
addition of several new HealthCare Software Partners, Billing Service customers,
and with the execution of several strategic partner projects, we expect to
continue to see strong growth in our recurring revenue business going forward.
We are continuing to see an increase in new business opportunities driven by the
US Government HealthCare reform mandate for industry adoption of the new HIPAA
5010 EDI Standards and ICD10 Medical Billing Coding standards. We are looking
forward to more positive financial results in the US HealthCare sector as we
continue to execute our aggressive business expansion strategy".


The revenues for the quarter were $661,606 with an EBITDA of ($222,213) as
compared with revenues of $104,299, an increase of 534%, and an EBITDA of
($228,662), an improvement of 3% over last year. 


The reported net loss for the quarter ended December 31, 2011 was $361,870,
compared to $250,844 last year, an increase of 44%. The increase in loss was
primarily due to the increase in share-based payments, amortization of
intangible assets and interest costs as a result of financing the purchase of
i-Plexus and increase in general and administrative expenses.


The year to date revenues for the six months ended December 31, 2011 were
$1,263,114 with an EBITDA of ($298,904) as compared with revenues of $307,384,
an increase of 311%, and an EBITDA of about the same of ($298,823) last year.


The company's available cash and short term investments at December 31, 2011 was
$217,498, a decrease of $229,887 from the June 30, 2011 balance of $447,385. The
company's accounts receivable of $330,983 as at December 31, 2011 was up from
$307,765 at June 30, 2011. The company's total liabilities decreased to
$1,475,822 as at December 31, 2011 from $1,554,154 at June 30, 2011. Total
working capital (total current assets less total current liabilities) as at
December 31, 2011 decreased by 16% to ($329,811) from ($283,983) as at June 30,
2011.


The Company continued to develop its business in the US health-care sector and
is rapidly increasing its recurring revenue. The Company has over 5,500 US
Medical Physician and Billing Service customers under subscription revenue
agreements which has increased Open EC's share of the HealthCare EDI and Revenue
Cycle Management market in the United States.


The comparative financial statements for the quarter ended December 31, 2011,
along with other information, may be obtained through the Company's website at
www.openec.com or on SEDAR at www.sedar.com.


About Open EC Technologies, Inc. 

Open EC Technologies is an e-Business Information Technology company with our
corporate head office, marketing and development in Vancouver, BC, main
HealthCare IT Solutions Operations office in San Antonio, Texas and Medical
Practise Billing Operations office in Spring Hill, Florida. The company has
software development and data center hosting operations in Maine, with Sales and
Executive Management staff in Atlanta Georgia. 


The Company's focus is to provide software solutions and transaction processing
services to assist Physicians, Hospitals, Health Plans, Insurance Brokers and
State Governments to exchange information for HIPAA EDI Health Plan Enrolment,
Health Insurance Eligibility, Health Insurance Claims, Claim Payments and
HealthCare Provider Collaboration of supporting patient referral and industry
compliance/reporting documentation.


Additional product and solution information is available on the web at
www.SoftCareHealthcare.com, www.iPlexus.net and www.softcare.com and additional
public company information is available on the web at www.openec.com. The
Company's common shares trade on the TSX Venture Exchange under the symbol: OCE.


ON BEHALF OF THE BOARD

Martyn A. Armstrong, President and CEO

Further information about the Company can be found on SEDAR (www.sedar.com) or
by contacting Mr. Martyn A. Armstrong, President & CEO of the Company 


This news release may contain forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995. Forward-looking statements
address future events and conditions and therefore, involve inherent risks and
uncertainties. Actual results may differ materially from those currently
anticipated in such statements.

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