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Empower Technologies Year Ended December 31, 2004

-Annual Revenue Growth in 2004-

Richmond, BC – April 11, 2005 – Empower Technologies Corporation (“The Company or Empower”) has filed financial statements for the year ended December 31, 2004.

Empower is a Linux operating software developer for Linux-based embedded system technologies and solutions for the consumer electronics industry. The Company was incorporated under the Company Act (British Columbia) on February 21, 2003. The Company operates through its wholly-owned Washington State subsidiary, Empower Technologies, Inc. (“Empower US”), and indirectly; Empower Technologies (Canada) Inc. (“Empower Canada”) and Empower Technologies (Shanghai) Inc. (“Empower Shanghai”). The Company trades on the TSX Venture Exchange under the symbol EPT.

Highlights of the year ended December 31, 2004:

  • During the year, the Company raised capital of $3,771,835 from proceeds of issuance of common shares and a Short Form Offering. Cash on hand was $1,243,042 for December 31, 2004 compared to $197,607 for 2003.

  • The Company introduced the embedded version of LinuxDA, called LinuxDA Embedded O/S (LEOs), optimized for the Texas Instruments (TI) OMAP5910 processor. The versatility of LEOs and the power of the OMAP processor initiate a new level of performance expectations for portable data terminals (PDTs), with increased headroom and speed for applications and expansion capabilities to best suit the needs of business, consumers and developers. Combining cutting-edge technology with style, they will be the epitome of form and function for portable data and communication terminals.

  • The Company unveiled PowerPlay 1x: a revolutionary, portable multimedia platform and colour personal digital assistant (PDA). This PDA is optimized by LEOs for Texas Instruments’ OMAP5910 dual processor. Also it provides the user with maximum performance on the familiar, easy to navigate interface and applications of LEOs. Powered by the OMAP dual processor.

  • Significant projects:

    LinuxDA Embedded O/S (LEOs)

    Empower US has introduced the embedded version of LinuxDA, called LinuxDA Embedded O/S (“LEOs”), optimized for the Texas Instruments (“TI”) OMAP5910 processor. LEOs for the OMAP5910 development platform debuts in Empower’s next generation of PowerPlay PDA devices.

    Osaka Project

    With CD, DVD, MP3 and clock radio capabilities, the Osaka Project is a compact, all-digital audio system. Supporting a wide range of sound functions, it integrates all the elements of personal and home audio, in addition to a PDA with QVGA display. Powered by the LinuxDA Embedded Operating System (LEOs) for Texas Instruments’ OMAP5910 processor, the Osaka Project increases digital audio decoding standards. The Osaka Project fulfils the needs and demands of the cutting edge consumer.

    PowerPlay 1x

    The company had developed a 16 bit LEOs powered personal handheld device PowerPlay Vs, which was sold through Best Buy Canada. The company plans to replace it with a new PDA model. This new model has been communicated to Best Buy Canada’s Future Shop and Best Buy Store buyers and they have agreed with the new PowerPlay PDA model change scheme in their respective stores.

Results of Operations

Revenues generated for the year ended December 31, 2004 were $170,369 compared with $134,728 for fiscal 2003. This increase in sales is attributed to the sales of Spherex X-Box® 5.1 surround sound systems in 2004.

The Company anticipates revenue to be improved through its plans to: phase in new l products in 2005; move aggressively to set up a strong marketing and sales base in North America; and begin shipping new products.

General and administrative expenses for the year ended December 31, 2004 increased to $3,116,256 (2003 - $1,473,449). Wages and benefits increased to $446,493 (2003 - $142,528), reflecting staff additions within all areas of the Company and the re-opening of the Shanghai office; advertising and promotion increased to $236,839 (2003 - $24,939) due to the Company’s effort to commercialize its technologies; and travelling expenses increased to $104,063 (2003 - $26,464) due to management’s efforts to promote and market its products.

About Empower Technologies

Founded in 2000, Empower Technologies™ (TSX.V:EPT) is a Linux operating software developer for Linux-based embedded system technologies and solutions for the consumer electronics industry.

Empower is an innovative company that introduced to the world LinuxDA Embedded O/S (“LEOs”). By uniting top professionals from within the computer industry and developing quality partnerships and strategic alliances, Empower is committed to being the leading Linux operating software developer for Linux-based embedded system technologies and solutions for consumer electronics manufacturers.

Empower’s brands are “LinuxDA™” (www.linuxda.com) a Linux-based embedded operating system and “PowerPlay” (www.powerplaydevices.com) smart consumer electronics.

Contact Information:

Media Enquiries:
Paul Leung - Chairman & CEO (604) 278-3100 or pcleung@empowertechnologies.com
Ed (Edward) Dennis – President (604) 278-3100 or edennis@empowertechnologies.com

Sales Enquiries:
sales@empowertechnologies.com or (425) 881-0909

More Information on Empower Technologies:
www.empowertechnologies.com

Investor Relations:
Coal Harbor Communications
Suite 900 – 555 Burrard Street,
Vancouver, BC V7X 1M8
Tel (604) 662-4505 Fax: (604) 662-4547 Toll-free: 1+ (877) 642-6200
Dale Paruk: info@coal-harbor.com

 

Empower Technologies Corporation

Paul Leung
Chairman & CEO


The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management's estimates, assumptions and projections using available information. The company cautions that actual financial results could differ materially from the current expectations due to a number of factors.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.

Empower Technologies

Contact Information:

Media Enquiries:
Paul Leung - Chairman, President and CEO: pcleung@empowertechnologies.com
or via Tel @ (604) 278-3100

More Information on Empower Technologies: www.empowertechnologies.com

LEOs ® Sales Enquiries:
sales@empowertechnologies.com or via Telephone @ 604-278-3100

Paul Leung
Chairman, President and CEO
Empower Technologies Corporation

The statements contained in this news release that are not historical facts are forward looking statements.  Such statements are based on management's estimates, assumptions and projections using available information.  The company cautions that actual financial results could differ materially from the current expectations due to a number of factors.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.

LEOs , PowerPlay and LinuxDA are the trademarks of Empower Technologies, Inc. All other brands are trademarks of their respective owners.


© 2007 Empower Technologies