CardioComm Solutions Reports a Profitable FY2017 and Revenue Growth

Toronto, Ontario--(Newsfile Corp. - April 30, 2018) - CardioComm Solutions, Inc. (TSXV: EKG) ("CardioComm" or the "Company"), a leading global provider of consumer heart monitoring and electrocardiogram ("ECG") software solutions, released its 2017 year-end financials, demonstrating continued sales growth, a profitable 2017 and increased confidence from the Company's auditor.

The 2017 figures are the result of management's continued focus on expense control coupled with new revenue generation opportunities. A summary of the SEDAR-posted financials shows the Company reported 2017 working capital of $486,911; net earnings of $39,609 versus a reported loss of $23,057 for 2016 (an increase of $62,667) and revenue growth of 11.7% to $1,749,269 in 2017, from $1,557,555 in 2016.

Material to this year's financial filing is the removal by the auditor of the going concern statement from the 2017 financial statements. Operationally, the Company has been cash flow positive over the last six fiscal quarters. The Company's financial statements also accommodate a 70% recovery of a non-operational cash loss of $113,235 related to an international banking transition.

The predominant drivers for revenue growth were increased software licensing contracts that generated recurring revenue streams and customized engineering contracts from device manufacturers and telemedicine groups. Revenue realized from hardware sales fell from 42% of total revenue in 2016 to 21% in 2017. All software-related revenues increased 21%, from 58% in 2016 to 79% in 2017. This increase is in line with the Company's recognized core competency and growing strategic market position as an innovator in ECG device communications, ECG data management solutions and ECG review and interpretation solutions, as well as the Company's status as a preferred "software as a medical device" provider to the medical and telemedicine industries.

The Company will continue to emphasize maintaining its recognized leadership as a software innovator in high impact medical software engineering through confirmation of plans to introduce multiple biometric and vital signs monitoring capabilities to its software offerings, as well as automated interpretation algorithms to its GEMS™ and SMART Monitoring ECG offerings. The Company believes access to new and innovative devices will lead the way for further software sales growth, as device manufacturers look to provide consumer and medical markets with access to novel technologies that can provide medically credible results.

CardioComm Solutions has earned the ISO 13485 certification, is HPB approved, HIPAA compliant and holds clearances for the sale of its HeartCheck™ technologies from the European Union (CE Mark), the USA (FDA), China (CFDA) and Canada (Health Canada).

To learn more about the CardioComm Solutions' products, please see the Company's websites www.theheartcheck.com and www.cardiocommsolutions.com.

About CardioComm Solutions

CardioComm Solutions' patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team. CardioComm Solutions has earned the ISO 13485 certification, is HIPAA compliant and holds clearances from the European Union (CE Mark), the USA (FDA) and Canada (Health Canada).

FOR FURTHER INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
1-877-977-9425 x227
egrima@cardiocommsolutions.com
www.cardiocommsolutions.com

Forward-looking statements

This release may contain certain forward-looking statements and forward-looking information with respect to the financial condition, results of operations and business of CardioComm Solutions and certain of the plans and objectives of CardioComm Solutions with respect to these items. Such statements and information reflect management's current beliefs and are based on information currently available to management. By their nature, forward-looking statements and forward-looking information involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements and forward-looking information.

In evaluating these statements, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not assume any obligation to update the forward-looking statements and forward-looking information contained in this release other than as required by applicable laws, including without limitation, Section 5.8(2) of National Instrument 51-102 (Continuous Disclosure Obligations).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.