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Alphinat announces its results for the fiscal quarter ended May 31, 2012 and the appointment of Mr. Marcel Elefant to the board of directors

MONTREAL (Quebec), July 23, 2012 – Alphinat Inc. (TSX-VN : NPA) announces its results for the fiscal quarter ended May 31, 2012 and the appointment of Mr. Marcel Elefant to the board of Directors.

During the quarter under review, Alphinat has focused its efforts on targeting private enterprise in order to diversify its client and partner base.

This has resulted in the signing of the company’s first OEM (Original Equipment Manufacturer) agreement. On May 1, 2012, Alphinat announced that it had entered into an OEM agreement with CSDC Systems Inc., a leading provider of business process automation solutions for government agencies and for the banking sector. CSDC will incorporate Alphinat SmartGuide® into their AMANDA platform giving government and corporate customers the ability to quickly deploy online services that allow clients, businesses and citizens to safely and securely apply for, submit, track, manage, and pay for applications online.

In the same spirit, Alphinat collaborates closely with Bull’s software division, which has lead to a commercialization campaign targeted at General Councils of France for delivery of SmartGuide on premises as well as in a SaaS mode.

These two sales channels into specific vertical markets with companies that have an established and captive client base have resulted in a growing sales pipeline with prospects at various levels of maturity as well as a first sale to a Canadian client outside of the Province of Quebec.

Also, the French State Modernization Agency (DGME) has continued to expand their citizen-centric service deployment and have ordered additional licenses from Alphinat in order to do so.

Furthermore, Alphinat has pursued Cloud computing validations with major players in the industry in the USA as well as in Europe. The company is progressing in discussions with global partners for strategic initiatives that could lead to global distribution and sales. A Cloud instance of SmartGuide is now available in the IBM PureSystems Center catalogue at the following address: http://www-01.ibm.com/software/brandcatalog/puresystems/centre/details?uid=GSD_46524.

Alphinat continues to make strong headway into partnerships for additional OEM agreements as well as for launching additional SaaS services. Management believe that these partnerships will reduce the SmartGuide sales cycle while multiplying points of contacts with potential clients.

For the quarter under review, the company recorded revenue and deferred revenue for a total amount of $492,634 (Revenue: $282,752 and Deferred revenue: $209,882).

For the 3-month period ended May 31, 2012, the Company recorded total revenue of $282,752 compared to $179,783 for the same period in 2011. This increase is due mainly to sales of new SmartGuide licenses as well as to increased revenue from maintenance and support resulting from the renewal of the SmartGuide annual license maintenance contract by the Direction Générale de Modernisation de l’État (DGME), the French government agency responsible for State reform, as well as by the government of Quebec.

Operating expenses decreased from $485,455 for the 3-month period ended May 31, 2011 to $439,965 for the 3-month period ended May 31, 2012.

The net loss for the 3-month period ended May 31 2012 is $157,213 or $0.003 per outstanding common share compared to a net loss of $305,467 or $0.006 per outstanding common share for the corresponding period in 2011.

Alphinat’s financial statements and Management’s Discussion and Analysis for the quarter ending May 31, 2012 can be found on SEDAR, at www.sedar.com.

Alphinat is pleased to announce the appointment of Mr. Marcel Elefant to the board of Directors of the company.

Marcel Elefant is a graduate of Sir George Williams College (Concordia University) with a Bachelor of Commerce and was President of one of Canada’s leading private specialty forest product companies until his retirement in 1991. Mr. Elefant currently sits on the boards and advisory boards of several international private companies and charitable organizations and is a benefactor of The Montreal Museum of Fine Arts. Mr. Elefant holds community activities and clubs close to heart with activities and memberships in Montreal, Stowe Vt., Monaco and Burgundy Fr.

Also, Alphinat announces that on July 18, 2012, the company’s board of Directors granted stock options representing a total of 150,000 common shares to a director of the company. The exercise price on the options, which expire on July 18, 2017, is $0.12.

About Alphinat

At Alphinat, we are driven by the passion to make application development easy for everyone. It always struck us as odd that the people with the vision of how a finished application should look and behave would only be involved at the start of the process. After all, what better way to ensure a favourable outcome than to provide those closest to an application’s end-users with a vested interest in its success throughout its development?

That’s why we bring you new ways to empower the right people at the right time in the application development process. At the same time, we’re constantly working to reduce the need to code in order to make application development and maintenance simpler and less error-prone.

So whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps or engage us or one of our partners to do the work for you, we’re here to help you deploy better applications in record time. Visit https://www.alphinat.com for more information. We look forward to hearing from you.

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.

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