These results reflect a 56% increase in second quarter revenues, to $1,331,405 from $852,871 in 2006. Revenue for the six months ended June 30, 2007 increased 47%, to $2,492,105 from $1,691,137 in 2006. At June 30, 2007 the Company's cash balance was $497,821, a decrease of $388,430 from the balance at December 31, 2006.

At June 30, 2007, QuoteMedia's deferred revenue balance was $376,178 compared with $253,853 at June 30, 2006, an increase of 48%. Deferred revenue represents payments received in advance from customers that will be recognized as revenue in future quarters when the services are performed.

"QuoteMedia continued on the path of revenue building during the first half of 2007. The revenue increases reported largely reflect the strong continuing trend towards an increasingly broad market acceptance of our traditional products. They also indicate the early phase impact of the recent introduction of our expanded data offerings. Our expanded data delivery capabilities include new and more extensive international market data coverage and a much more comprehensive research information capability," says Keith Guelpa, president of QuoteMedia, Inc.

QuoteMedia's new international data coverage expands its global market for our products, including Quotestream, Quotestream Wireless and data feed services, beyond the previous US and Canada borders. During the second quarter, QuoteMedia added data delivery capabilities covering 40 European, Asian and South American Exchanges including Berlin, Paris, Amsterdam, Madrid, Milan, Vienna, Hong Kong, Shanghai, Australia, Buenos Aires, Sao Paulo and many others. QuoteMedia also successfully commenced providing Real-Time Level 2 London Stock Exchange data to customers in the U.K.

"Based on these expanded capabilities, our order book has grown substantially, particularly during the second quarter, providing a solid basis for continuing our trend of strong revenue increases, quarter over quarter into the foreseeable future," says Guelpa.

During the second quarter, QuoteMedia essentially completed beta testing of Quotestream II, a new tick-by-tick streaming portfolio management product, and Quotestream Pro which has been specifically designed to support the day-to-day operating requirements of a wide range of investment professionals. The reaction to both new products throughout the beta testing program has been extremely positive and QuoteMedia expects their market launch in the third quarter.

"After the past 2 years of product engineering and infrastructure strengthening, our short, medium and long term focus is now squarely on market penetration and revenue expansion particularly for Quotestream II, Quotestream Pro and our new raw data feed capabilities. As an integral part of this focus we recently appointed Christensen as our agency of record for public relations and market2world communications inc as our new product marketing advisors.

As previously forecasted, and consistent with our focus on expansion, we experienced a loss for this quarter of $424,902 and for the six months ended June 30, 2007 of $796,987. While we expect that we will continue to incur short term losses for several further quarters, we also expect our revenues to continue to rise and overtake the new and increased front-end cost commitments we have undertaken, which are a prerequisite to supporting the development, launch and operation of our new and internationally expanded product offerings. We believe that we are well positioned and on track to meet our longer term objectives," says Guelpa.