WIRELESS AGE COMMUNICATIONS INC - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - September 1, 2011

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EX-99.2 - EXHIBIT 99.2 - WIRELESS AGE COMMUNICATIONS INCv234029_ex99-2.htm
WIRELESS AGE FILES FIRST QUARTER 2011 FINANCIAL STATEMENTS

TORONTO, ON – (MARKET WIRE) – August 22, 2011 – Wireless Age Communications, Inc. (PK: WLSA), ("Wireless Age" or "the Company") announced today its unaudited earnings for the interim period ended March 31, 2011.

Quarterly Operational Highlights:
 
 
· 
Wireless Age Communications Inc., announced the name change of  the Company to, Vertility Technology Corporation
 
· 
Ross E. Hill was appointed as Chief Operating Officer of Vertility Technology and their operating company Enwise Home Services Inc.
 
· 
The Company announced the name change of Sunbay Energy Corp., to Vertility Waste Solutions Inc.
 
· 
Albert A. Pope was appointed as Senior Vice President. of Vertility Waste of Operations
 
o 
Mr. Pope brings more than 30 years experience in international corporate finance and business management

The revenue in this first quarter is from the recent acquisition of Enwise and does not include any other revenue from OC Communications Group Inc. on Innovative Solutions.  Enwise continues to change the face of home services by providing a whole-home approach to energy saving upgrades through professional and comprehensive Home Comfort Advisor recommendations. Enwise Homes Services Inc. and Enwise Building Sciences Inc., subsidiary companies of Wireless Age Communications, Inc. are companies that provide the sales and installation of energy retrofit products and services and also provide certified government energy audits that qualify customers for these rebates directly under the ecoENERGY Retrofit for Homes Program.

John G. Simmonds, Chairman & CEO stated, “We are pleased to report revenues of over $700,000 for the first quarter of 2011.  These first quarter financial statements along with our second quarter, which we expect to file shortly, will bring all reporting up to date and it is our intention to prepare and file formal documents with the SEC to restore our full reporting status.  The first quarter of 2011 has been extremely productive for the Company.  We look forward to keeping shareholders up to date with corportate happenings as we continue to move forward and execute on our business plan.”
 
Note:  This press release contains "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Wireless Age Communications, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Wireless Age Communications, Inc. SEC filings. Wireless Age Communications, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Wireless Age Communications, Inc.'s business, please refer to the risks and uncertainties detailed from time to time in Wireless Age Communications, Inc.'s SEC filings.
 

Financials Charts Follow:
 
 
 
 
 
 

 
WIRELESS AGE COMMUNICATIONS, INC.
CONSOLIDATED BALANCE SHEET
(Unaudited)
(Stated in US Dollars)
 
   
March 31,
    
December 31,
  
ASSETS
  
2011
    
2010
  
Current
            
Marketable securities
   $ 853,009     $ 831,520  
Receivables
     308,487       -  
Inventory
     6,043       -  
Prepaid expenses
     48,231       37,789  
Investment -deposit
     -       49,760  
Total assets
     1,215,770       919,069  
                 
Property and equipment
     83,343       43,031  
Due from related parties
     2,821,712       2,472,751  
Goodwill
     25,872       -  
    $ 4,146,697     $ 3,434,851  
                 
LIABILITIES
                
Current
                
Bank indebtedness
   $ 94,293     $ 52,321  
Accounts payable and accrued liabilities
     1,016,500       837,768  
Taxes payable
     45,019       54,990  
Accrued special provision
     6,632,778       6,714,880  
Due to related parties
     1,259,045       797,034  
Unissued share liability
     152,050       -  
      9,199,685       8,456,993  
                 
Commitments and contingencies
     -       -  
                 
Minority interest
     -       -  
                 
STOCKHOLDERS' EQUITY (DEFICIENCY)
                
Preferred stock, $0.001 par value: 10,000,000 shares authorized
                
March 31, 2011: nil issued and outstanding
     -       -  
Common stock, $0.001 par value: 100,000,000 shares authorized
                
March 31, 2011: 65,766,592 shares issued and outstanding
     65,767       65,767  
Additional paid-in capital
     16,245,349       16,245,349  
Treasury stock
     24,352       24,352  
Accumulated deficit
     (21,581,085 )     (21,568,608 )
Accumulated other comprehensive income
     192,629       210,998  
      (5,052,988 )     (5,022,142 )
                 
    $ 4,146,697     $ 3,434,851  


 
 
 
 
WIRELESS AGE COMMUNICATIONS, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
For the three months ended March 31, 2011
(Unaudited)
(Stated in US Dollars)
 
Revenue
   $ 702,920  
Cost of goods
     430,117  
Gross profit
     272,803  
         
Operating expenses
        
Selling and administrative
     677,877  
Amortization
     8,518  
Total operating expense
     686,395  
         
Loss from operations
     (413,592 )
         
Other expenses (income)
        
Interest expense
     24,464  
Foreign exchange (gain)
     (314,449 )
Total other expense (income)
     (289,985 )
         
(Loss) before income taxes
     (123,607 )
Income taxes - deffered and current
     -  
         
Net (loss)
   $ (123,607 )
         
Earnings per share:
        
Earnings per share - basic and diluted
   $ (0.002 )
         
Weighted average number of of common shares outstanding:
        
Basic and diluted
     65,766,592  
 

 
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