QHR SOFTWARE RECEIVES NEW CONTRACTS WORTH $600,000
February 19, 2007 (QHR – TSX Venture Exchange) Mr. Hildebrandt, President and CEO of the Company, is pleased to report that the Company’s wholly owned subsidiary QHR Software Inc. has been awarded several new contracts from Canadian healthcare clients to supply its full suite of proprietary Quadrant HR software.
The contracts will provide approximately CDN$600,000 in new revenue for the Company and CDN$50,000 in additional recurring revenue annually. These contracts cover various functionalities from the full suite of Human Resource (HR) applications that constitute Quadrant HR. This includes integrated payroll, staff scheduling and HR administration. Implementation schedules are being established and are expected to commence shortly. QHR Software does not require any additional resources or product development to fulfill these contracts.
The Company’s overall recurring revenue will move to approximately $2,800,000 annually as a result of these new contracts. This represents over 50% of the Company’s annual expenditure budget.
For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company’s website, www.QHRtechnologies.com.
Legal Notice Regarding Forward Looking Statements
This news release contains “forward looking statements” within the meaning of applicable Canadian securities legislation. Forward- looking statements are indicated expectations or intentions. Forward-looking statements included in this news release include that new revenue will be added to the operations of the Company although it is not adequate enough to assure profitability or the potential need to raise additional new equity capital should overall sales levels in 2007 not reach budgeted requirements. These statements are subject to risks that may cause the actual results to be materially different from those expressed or implied by such forward looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Further risk information on the Company is available at www.sedar.com.
On behalf of the Board of Directors
Al Hildebrandt
President & Chief Executive Officer




