ProntoForms Corporation Announces Q3 2013 Results

ProntoForms(R) Corporation (TSX VENTURE:PFM) ("ProntoForms" or "the Company"),
(formerly, TrueContext Mobile Solutions Corporation) a mobile data solutions
company today announced results for its three and nine months ended September
30, 2013. All amounts are stated in Canadian dollars unless otherwise noted.


Operating Results for the Three Months Ended September 30, 2013

Total revenue for the third quarter of 2013 of $1,149,111 represented an
increase of approximately 20.3% over the 2013 second quarter and 82% growth over
the comparable third quarter of 2012. 


Revenue details are as follows:



                            Three months ended                              
                     --------------------------------                       
                      September  June 30,   September   Increase   Increase 
                       30, 2013       2013   30, 2012 over Q2'13 over Q3'12 
Subscription revenue $  874,990 $  750,140 $  494,889       16.6%      76.8%
Services revenue        274,121    204,912    136,422       33.8%     100.9%
                     --------------------------------                       
                                                                            
Total revenue        $1,149,111 $  955,052 $  631,311       20.3%      82.0%
                     --------------------------------                       



Subscription revenue of $874,990 grew by 16.6% from the second quarter of 2013
and by 76.8% from the comparable third quarter of 2012. 


Services revenue of $274,121 grew by 33.8% from the second quarter of 2013 and
by 100.9% from the comparable third quarter of 2012. The 2013 third quarter
professional services revenue included approximately $201,000 from large
contracts with major operators and smartphone vendors compared to approximately
$131,000 in the 2013 second quarter and $92,000 in the third quarter of 2012.
Revenue from these larger contracts is recognized as the services are performed
and is subject to variability due to the availability of contracts from
customers and resources to perform the work.


The Company had a Q3 2013 net loss of $237,208 compared to a Q2 2013 net income
of $535,485 and a comparable Q3 2012 net loss of $452,184. 




--  The second quarter shift to profitability arose primarily from other
    income of approximately $875,000 realized through the sale of certain
    patents and a reduction in deferred revenue due to the reversal of the
    underlying obligation. Excluding the one-time other income items, the
    Company would have presented a pro forma net loss of $339,585 in the
    three month period ended June 30, 2013. The third quarter 2013 net loss
    represents an improvement of $102,377 (30.1%) over the pro forma second
    quarter loss and an improvement of $214,976 (47.5%) over the comparable
    third quarter in 2012. 



Loss before other income (expenses) for the third quarter of 2013 was $142,667
compared to $318,596 in the second quarter of 2013 representing an improvement
of $175,929 or 55% and an improvement of $281,974 or 66% over the loss before
other income (expenses) of $424,641 in the third quarter of 2012. 


As at September 30, 2013, the Company had cash and cash equivalents of $948,373
and net working capital of $846,468. 


"We are pleased with our continued strong revenue and subscriber growth in the
third quarter, particularly through our operator partners. Our third quarter
financial results demonstrate a clear trend: eight continuous quarters of
revenue growth combined with decreasing operating loss. It's the steady
improvement in recurring revenue and operating results that drive value in our
organization," said Alvaro Pombo, Chief Executive Officer, ProntoForms.


Mr. Pombo added: "ProntoForms continues to be a leading product in the
marketplace and our relationships with top carriers and device brands
demonstrate the strategic value of the application within the carrier ecosystem.
The relationship with these partners has been deepening recently as evidenced by
increased product development and marketing programs which have also positively
contributed to increases in our services revenue. The ProntoForms product is
deployed with more than 2,500 companies, mobilizing thousands of business
processes - the product improvements and management expertise gained from this
substantial achievement uniquely positions us to take our business to the next
level." 


Option Grant

Options to purchase up to 688,000 common shares of the Company were approved for
grant by the Board of Directors, including 560,000 to certain directors and
officers. The options were approved for grant to be effective as of November 12,
2013 pursuant to the terms of the Company's stock option plan and are
exercisable for a period of five years from the effective date at an exercise
price to the closing price of the common shares on November 11, 2013. Stock
option grants are subject to necessary regulatory approvals.


About ProntoForms(R) and ProntoForms Corporation 

ProntoForms is a mobile workflow solution used by over 2,500 business customers
to collect, receive and submit data in the field. Available for smartphones and
tablets, the ProntoForms solution incorporates a mobile device App, a Web portal
to manage teams and data flow, and provides the ability to export or connect
data to the back office, popular cloud services or other data destinations.


ProntoForms Corporation, formerly TrueContext Mobile Solutions Corporation, has
a powerful and proprietary patent portfolio, from which the ProntoForms mobile
App and Web reporting portal have been developed. The company trades on the TSXV
under the symbol PFM. ProntoForms is the registered trademark of ProntoForms
Inc., a wholly-owned subsidiary of ProntoForms Corporation.


Certain information in this press release may constitute forward-looking
information. For example, statements about the Company's future growth or value
are forward-looking information. This information is based on current
expectations that are subject to significant risks and uncertainties that are
difficult to predict. Actual results might differ materially from results
suggested in any forward-looking statements. The Company assumes no obligation
to update the forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward looking-statements
unless and until required by securities laws applicable to the Company. Neither
the TSXV nor its Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or accuracy of
this release. 


There are a number of risk factors that could cause future results to differ
materially from those described herein, including but not limited to the
following: (i) there can be no assurance that the Company will earn any profits
in the future or that profitability, if achieved, will be sustained; (ii) if the
Company is not able to achieve profitability, it will require additional equity
or debt financing, and there can be no assurances that the Company will be able
to obtain additional financial resources on favourable commercial terms or at
all; (iii) the Company's quarterly revenues and operating results may fluctuate,
which may harm its results of operations; (iv) the loss of business from a major
customer, operator or other reseller could reduce the Company's sales and harm
its business and prospects; (v) a portion of the Company's sales are through
operators and other resellers, and an adverse change in the Company's
relationship with any of such operators or other resellers may result in
decreased sales; (vi) the market for software as a service is at a relatively
early stage of development, and if it does not develop or develops more slowly
than expected, the Company's business will be harmed; (vii) the Company faces
competition from other software solution providers, which may reduce its market
share or limit the prices it can charge for its software solutions; (viii) a
global economic downturn or market volatility may adversely affect our business
and/or our ability to complete new financings; 

(ix) the business of the Company may be harmed if it does not continue to
penetrate markets; (x) the success of the business depends on the Company's
ability to develop new products and enhance its existing products; (xi) the
Company's growth depends in part on the success of its strategic relationships
with third parties; (xii) the financial condition of third parties may adversely
affect the Company; (xiii) the US dollar may fluctuate significantly compared to
the Canadian dollar, causing reduced revenue and cash flow as most of our
revenues are received in US dollars while most of our expenses are payable in
Canadian dollars; (xiv) subscription services which produce the majority of the
Company's revenue are hosted by a third party service for the Company and any
interruption in service could harm its results of operations; (xv) the Company
may be liable to its customers or third parties if it is unable to collect data
or it otherwise loses data; (xvi) the Company may be liable for the handling of
personal information; (xvii) intellectual property claims against the Company
may be time consuming, costly to defend, and disruptive to the business; (xviii)
the Company uses open source software in connection with its products which
exposes it to uncertainty and potential liability; (xix) economic uncertainty
and downturns in the software market may lead to decreases in the Company's
revenue and margins; (xx) any significant changes in the technological paradigm
utilized for building or delivering applications in Smartphone devices could
harm the Company's business and prospects; and (xxi) if the Company loses any of
its key personnel, its operations and business may suffer. Please see "Risk
Factors Affecting Future Results" in the Company's annual management discussion
and analysis dated April 2, 2013 found at www.sedar.com for a more complete
discussion of these and other risks. Readers are cautioned not to place undue
reliance on forward-looking statements. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
ProntoForms Corporation
Alvaro Pombo
Chief Executive Officer
613.599.8288 ext. 1111
apombo@truecontext.com
ProntoForms (TSXV:PFM)
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