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TSO3: Third Quarter 2006 Financial Results

November 10, 2006

Québec City, November 10, 2006 – TSO3 Inc. (TSX: TOS) today announced its financial results for the third quarter of 2006. The Company recorded a net loss of $2,013,069 or $0.06 per share, for the third quarter of 2006, compared to a net loss of $1,401,126 or $0.04 per share, for the same period in 2005.

“Given that this period is traditionally calm in the hospital sector, we took advantage of the third quarter to ensure the progression of the purchasing process set in motion in 2006 and the development of the sales foreseen for 2007” stated Jocelyn Vézina, CEO of TSO3 Inc.

“Several sales forecasted for this year will be delayed until next year and have been moved to our pipeline for 2007. This postponement is the result of the fact that the sales cycle is longer than we anticipated for the introduction of a new, unique technology like ours. In spite of these postponements, the satisfaction being expressed by our current customers demonstrates that the 125L Ozone Sterilizer is more than well accepted and adapted to the market. These customers clearly confirm that there is a need for a simple, environmentally safe and economical low temperature sterilization process,” concluded Mr. Vezina.

Summary of activities for the quarter

• Received patents for our sterilization process in the U.S. and in Europe by the United States Patent and Trademark Office (USPTO) and the European Patent Office (EPO) which protects our technology for the next 20 years.

• Received third clearance from the Food and Drug Administration (FDA) certifying that the 125L Ozone Sterilizer can sterilize a significantly broader range of lumened instruments with smaller internal diameters and longer lengths, a result that redefines the industry standards for sterilisation capabilities.

• Received endorsement from four new medical device manufacturers, confirming that their instruments can be safely sterilized with the 125L.

• Confirmed that sales cycle for new technology for the central sterilization department is longer than originally anticipated. Several sales forecast for 2006 have been postponed until 2007.

• Increased the number of people of our sales and marketing department. Today, we have 22 people who cover the North American market.

• Consolidated gains with our current and potential customers. Saw progression of the purchasing process set in motion in the first half of 2006 and began developing the sales cycle with customers for purchases in 2007.


To view the analysis of the financial situation and the operating results, download the report for the third quarter.
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