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latest results as at July 12, 2007

Copyright ©2007, QIS Capital Corporation

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TABLE OF CONTENTS

Title Page .......................................................................................................... 1

Table of Contents ............................................................................................. 2

Baden Technologies Inc. Profile ..................................................................... 3

Charts as at July 12, 2007 ................................................................................ 5

Gross Margin Graph ......................................................................................... 7

Net Margin Graph ............................................................................................. 8

Long-Term Debt to Equity Graph .................................................................... 9

Market Capitalization Graph .......................................................................... 10

ILI Technologies Corp. Profile ....................................................................... 11

Current Ratio Graph ....................................................................................... 13

Quick Ratio Graph .......................................................................................... 14

12-Month Trailing Revenues Graph .............................................................. 15

12-Month Trailing Earnings Graph ................................................................ 16

12-Month Trailing Earnings per Share (EPS) Graph .................................... 17

Price to Book Value Graph ............................................................................ 18

Audiotech Healthcare Corporation Profile ................................................... 19

Price to 12-Month Trailing Earnings Graph .................................................. 21

Debt Adjusted Price to 12-Month Trailing Earnings Graph ........................ 22

Glossary of Terms .......................................................................................... 23

Abbreviations ................................................................................................. 24

Copyright & Disclaimer .................................................................................. 24

2

BDZ : TSX-V

www.baden.ca

MAY 2007

CORPORATE PROFILE

Baden Technologies Inc. is a public company based in Calgary, Alberta. Baden is involved in a variety ofservice and manufacturing projects in the oil and gas industry.

The Company is a market leader in the provision of filtration and filtration-related technologies inCanada, the U.S. and the Russian Federation.

OPERATIONS

Baden is a custom equipment expert for the global oil, chemical and environmental protection industries. Throughits subsidiary, FSI International Services Ltd., its primary Domestic Market offerings include:

Wellhead Chemical Injection Skids Field Rental Filtration & Auxiliary Equipment Custom Truck and Trailer Chemical Blending Units Custom Chemical Blending Plants Custom Wellhead Metering Skids with Automation Packages

Filter Bags, Cartridges & Vessels

Mobile Field Filtration Services

Custom Fabrication Services

MOLE Drill Cuttings Treatment Systems

AquaShield Water Removal Filters From Diesel & Lub Oils

State-of-the-art Ultra-filtration For Power Generation Lub Oils

Carbon Filtration Vessels

FSI International is an International leader in thedevelopment, manufacturing and installation of customizedequipment including:

Brine Blending Plants

Polymer Blending Plants

Chemical Blending Plants

FSI International’s current market is derived fromapproximately 50% international and 50% domestic sales.The business of FSI International is primarily associatedwith custom designed and fabricated brine blending plants,polymer blending plants, filtration systems, and productionchemical blending plants for the Russian and otherinternational oil industry areas.

3

http://www.baden.ca/

FINANCIAL HIGHLIGHTS

3 months ended Mar. 31 Year ended Dec. 31

2007 2006 2006 2005

Revenues $ 3,730,726 $ 1,367,886 $ 8,724,917 $ 1,361,648

Cost of Sales 2,756,470 918,358 6,603,423 1,104,986

Gross Profit 974,256 449,528 2,121,494 256,662

Net Income 325,384 198,470 604,609 (625,822)

per share 0.019 0.012 0.036 (0.048)

BALANCE SHEET(As at March 31, 2007)

Current Assets $ 3,165,723

Total Assets 3,883,673

Current Liabilities 2,490,035

Long-Term Debt 21,388

Shareholders' Equity 1,372,250

SUMMARY

RECENT CONTRACTS

DATE PRODUCT AMOUNT

Feb. 2006 Skid Packages $0.8 million

Mar. 2006 Brine Plants (2) $4.0 million

Aug. 2006 Water Treatment $0.5 million

Oct. 2006 Brine Plant (1) $2.0 million

Dec. 2006 Brine Plant (1) $3.1 million

Baden posted top-line growth of 173% for the firstquarter ended March 31, 2007, with total revenuesof $3.73 million. Earnings for the period were$325,384 or $0.019 per share. Baden carries asignificant amount of momentum into the middle of2007 with two significant contracts secured inDecember 2006 and March 2007, respectively.These contracts, totaling $7.7 million, are bothexpected to be completed by the end of the thirdquarter of 2007. Furthermore, as at March 31,2007, Baden had a working capital position of$675,700 or $0.04 per share with negligible long-term debt. Mar. 2007 Brine Plant (1) $4.6 million

Symbol BDZ

Exchange TSX Venture Exchange

Recent Share Price $0.70

52-Week Hi-Lo $0.70 - $0.21

Shares Outstanding (as at Mar. 31, 2007) 17,096,501

- fully-diluted 21,671,501

Management & Insiders 68%

Market Capitalization $12.0 million

OFFICERS & DIRECTORS HEAD OFFICE

Richard Ball, President, CEO & Director 4535 - 8A Street NE

Ian Ball, CFO & Director Calgary, AB T2E 4J6

Michael Edwards, Director Phone: (403) 571-4230

Gerald Olson, Director Fax: (403) 230-3106

Dennis Nerland, Director Email: [email protected]

Website: www.baden.ca

4

mailto:[email protected]

http://www.baden.ca/

Selected Results for Small-Cap Industrial/Service CompaniesNOTES: * Numbers are expressed in (000's) except per share values

Companies appearing in bold text have released updated results since last month's chartsCompanies with a blue hyperlink have included a 2-page corporate profile within these charts

(1) shares outstanding excludes 3,750,000 shares held in escrow and set to expire in May 2008(2) normalized earnings excludes one-time stock-based compensation expense of $3,700,069(3) "Quarter B" is for the two months ended Dec. 31, 2006 Shares Long-term

Current Normalized Earnings EBITDA Issued and Working Working Debt Shareholders' Long-termCompany Symbol Price Period Revenues Cash Flow Earnings EBITDA per basic per basic Gross Net Outstanding Capital Capital (including Equity Debt to

July 12/07 Period Ended (000's) (000s) (000's) Share Share Margin Margin period end (000's) per share debentures) (000's) Equity

Antigua Enterprises (US$) (ANE:TSX-V) 0.255 9 months Jan 31 37,479 1,576 943 2,843 0.022 0.067 35% 3% 42,232 7,896 0.19 1,843 14,336 0.13

Asian Television Network (SAT:TSX-V) 2.10 3 months Mar 31 4,184 1,221 565 1,291 0.023 0.053 31% 14% 24,416 1,240 0.05 1,551 2,504 0.62

Audiotech Healthcare (AUD:TSX-V) 0.20 6 months Mar 31 2,007 150 81 201 0.006 0.015 70% 4% 13,230 (23) (0.00) 815 1,082 0.75

Axia NetMedia (AXX:TSX) 6.50 9 months Mar 31 37,464 13,023 14,606 12,332 0.252 0.213 48% 39% 63,336 46,364 0.73 428 77,474 0.01

Bevo Agro (BVO:TSX-V) 0.27 9 months Mar 31 11,599 924 (172) 2,062 (0.007) 0.081 39% -1% 25,536 (2,810) (0.11) 16,331 9,747 1.68

Cash Canada Group (CUL:TSX-V) 0.285 3 months Apr 30 3,798 231 79 276 0.006 0.020 63% 2% 14,050 4,055 0.29 1,117 5,334 0.21

Circa Enterprises (CTO:TSX) 1.13 3 months Mar 31 7,764 (3) (190) 61 (0.020) 0.006 20% -2% 9,489 6,387 0.67 208 11,074 0.02

Clemex Technologies (CXG.A:TSX-V) 0.26 9 months Jan 31 4,147 228 143 292 0.008 0.016 58% 3% 18,793 1,015 0.05 287 1,138 0.25

Computer Modelling Group (CMG:TSX) 17.31 12 months Mar 31 23,715 7,874 6,957 10,689 0.850 1.306 76% 29% 8,279 17,305 2.09 0 18,639 0.00

Consolidated Envirowaste (CWD:TSX-V) 0.59 6 months Mar 31 10,536 491 (690) 489 (0.066) 0.047 19% -7% 10,415 1,178 0.11 5,028 6,795 0.74

Divcom Lighting (DVQ:TSX) 0.26 6 months May 31 17,074 182 (602) 788 (0.014) 0.018 35% -4% 43,610 2,051 0.05 7,307 16,174 0.45

Energold Drilling (EGD:TSX-V) 3.93 3 months Mar 31 7,473 1,789 819 1,264 0.037 0.056 38% 11% 22,925 19,607 0.86 1,554 19,001 0.08

Gemcom Software (GCM:TSX) 1.86 12 months Mar 31 35,848 6,065 4,538 7,286 0.105 0.168 80% 13% 51,689 11,389 0.22 0 40,734 0.00

Hanfeng Evergreen (HF:TSX) 14.28 3 months Mar 31 24,169 4,106 3,223 3,749 0.067 0.078 20% 13% 48,138 6,171 0.13 0 88,188 0.00

International Road Dynamics (IRD:TSX) 2.30 6 months May 31 19,420 1,134 1,101 2,157 0.079 0.155 32% 6% 13,911 8,522 0.61 1,651 16,439 0.10

International Technologies (ITI:TSX-V) 0.24 3 months Mar 31 3,112 161 141 309 0.008 0.010 28% 5% 17,420 4,304 0.25 3,113 5,987 0.52

JEMTEC (JTC:TSX-V) 1.50 9 months Apr 30 2,145 620 489 898 0.213 0.391 69% 23% 2,296 2,520 1.10 102 2,669 0.04

Migao (MGO:TSX) 9.30 6 months Mar 31 49,443 7,214 5,747 7,046 0.188 0.231 22% 12% 35,476 41,034 1.16 0 79,784 0.00

MTY Food Group (MTY:TSX-V) 9.95 6 months May 31 14,599 4,807 3,819 6,681 0.203 0.356 46% 26% 18,978 12,245 0.65 627 33,705 0.02

Omni-Lite Industries (US$) (OML:TSX-V) 2.24 3 months Mar 31 1,633 623 736 980 0.066 0.088 74% 45% 11,068 (805) (0.07) 19 9,407 0.00

Optimal Geomatics (OPG:TSX-V) 0.145 6 months Apr 30 7,980 (648) (1,236) (692) 0.020 (0.011) 26% -15% 61,387 4,760 0.08 1,716 5,604 0.31

Pacific Insight Electronics (PIH:TSX) 4.15 9 months Mar 31 27,625 3,321 2,046 4,313 0.338 0.712 30% 7% 6,115 9,062 1.48 0 16,840 0.00

Pacific Safety Products (PSP:TSX-V) 1.10 9 months Mar 31 28,016 1,307 776 2,532 0.040 0.132 24% 3% 19,241 5,786 0.30 166 10,692 0.02

Payment Services Interactive (PSG:TSX-V) 1.11 3 months Mar 31 1,207 360 265 360 0.025 0.034 59% 22% 10,542 1,494 0.14 0 2,649 0.00

Planet Organic Health (POH:TSX-V) 2.73 9 months Mar 31 39,581 2,382 1,618 3,164 0.053 0.103 40% 4% 31,116 2,740 0.09 1,248 17,031 0.07

Prism Medical (PM:TSX-V) 3.17 3 months Feb 28 10,131 738 205 1,204 0.034 0.200 38% 2% 6,015 10,282 1.71 13,670 18,283 0.75

Pyng Medical (1) (PYT:TSX-V) 0.52 6 months Mar 31 2,065 458 227 387 0.023 0.039 71% 11% 9,902 1,259 0.13 7 3,569 0.00

Rare Method (RAM:TSX-V) 0.16 9 months Mar 31 6,128 106 (75) 82 (0.003) 0.003 77% -1% 25,421 154 0.01 17 4,093 0.00

Raydan Manufacturing (RDN:TSX-V) 0.62 9 months Jan 31 17,871 807 477 1,226 0.030 0.076 21% 3% 16,053 2,538 0.16 225 6,223 0.04

Royal Laser (2) (RLC:TSX) 0.57 12 months Mar 31 240,306 6,318 (186) 2,913 (0.002) 0.035 11% 0% 92,902 24,514 0.26 12,649 81,732 0.15

Sangoma Technologies (STC:TSX-V) 1.35 9 months Mar 31 5,586 2,304 1,485 2,657 0.052 0.093 71% 27% 27,710 4,716 0.17 0 11,036 0.00

Savaria (SIS:TSX) 1.58 3 months Mar 31 14,446 949 639 904 0.022 0.031 25% 4% 28,775 18,912 0.66 4,418 24,563 0.18

Sigma Ventures (SVX:TSX-V) 0.88 9 months Jan 31 60,764 5,497 3,119 7,702 0.093 0.230 12% 5% 36,365 4,698 0.13 14,632 14,679 1.00

Steeplejack (SID:TSX) 10.00 9 months Mar 31 87,767 10,486 6,585 13,503 0.645 1.323 22% 8% 10,207 2,264 0.22 12,411 43,901 0.28

Telehop Communications (HOP:TSX-V) 0.63 3 months Mar 31 4,992 311 196 459 0.016 0.036 41% 4% 12,804 3,408 0.27 0 4,452 0.00

The SKOR Food Group (SKF:TSX-V) 0.72 6 months Feb 28 85,513 1,055 541 1,383 0.021 0.054 13% 1% 25,749 10,113 0.39 1,008 17,358 0.06

Triant Holdings (TNT:TSX) 1.85 3 months Mar 31 820 (634) (667) (655) (0.161) (0.158) 73% -81% 4,168 2,910 0.70 0 3,088 0.00

VantagePoint Systems (US$) (VPG:TSX-V) 0.42 6 months Mar 31 5,906 640 390 909 0.027 0.063 39% 7% 14,433 1,138 0.08 866 3,174 0.27

VendTek Systems (VSI:TSX-V) 0.91 6 months Apr 30 33,706 784 365 603 0.008 0.014 7% 1% 43,381 2,517 0.06 181 3,052 0.06

O&G SERVICE COMPANIES

Baden Technologies (BDZ:TSX-V) 0.64 3 months Mar 31 3,731 367 325 376 0.019 0.022 26% 9% 17,096 676 0.04 21 1,372 0.02

Dalmac Energy (DAL:TSX-V) 0.60 9 months Jan 31 7,561 772 38 631 0.003 0.051 28% 1% 12,385 5,811 0.47 3,565 9,561 0.37

Divestco (DVT:TSX) 3.95 3 months Mar 31 26,793 5,662 4,071 12,752 0.115 0.360 52% 15% 35,747 (21,160) (0.59) 5,751 82,303 0.07

Enterprise Oilfield (E:TSX-V) 0.90 6 months Mar 31 23,580 2,525 1,534 3,446 0.058 0.130 23% 7% 39,804 11,628 0.29 3,410 27,043 0.13

Galvanic Applied Sciences (GAV:TSX-V) 0.98 9 months Jan 31 12,750 1,898 1,187 2,217 0.076 0.142 41% 9% 15,571 6,586 0.42 0 13,182 0.00

Global Energy Services (GLK:TSX-V) 0.28 3 months Mar 31 3,537 (253) (600) (274) (0.032) (0.015) 45% -17% 18,819 2,019 0.11 0 7,755 0.00

Hyduke Energy Services (3) (HYD:TSX-V) 1.52 3 months Mar 31 20,320 1,668 1,236 2,352 0.056 0.107 18% 6% 21,950 22,706 1.03 2,284 35,034 0.07

ILI Technologies (ILI:TSX-V) 1.00 3 months Mar 31 2,963 472 410 478 0.02 0.03 40% 14% 20,221 6,514 0.32 15 7,984 0.00

Questor Technology (QST:TSX-V) 0.77 3 months Mar 31 960 238 128 233 0.005 0.010 44% 13% 23,757 1,305 0.05 44 2,829 0.02

Titan Logix (TLA:TSX-V) 0.43 9 months May 31 6,193 789 648 676 0.030 0.031 43% 10% 23,944 3,832 0.16 0 4,181 0.00

Tornado Technologies (TDO:TSX-V) 0.99 6 months Mar 31 28,094 1,654 996 2,619 0.063 0.165 19% 4% 14,876 9,828 0.66 5,267 12,369 0.43

n/a = not available nm = not meaningful US$ = results reported in U.S. dollars

Disclaimer: This information is provided using the most recent information available to QIS Capital Corp. QIS Capital Corp. cannot be held liable for the accuracy of any information provided in this chart.

Copyright © 2006, QIS Capital Corp., www.qiscapital.com, (250) 376-8989

5

Selected Results for Small-Cap Industrial/Service CompaniesNOTES: * Numbers are expressed in (000's) except per share values

Companies appearing in bold text have released updated results since last month's chartsCompanies with a blue hyperlink have included a 2-page corporate profile within these charts

(1) shares outstanding excludes 3,750,000 shares held in escrow and set to expire in May 2008(2) normalized earnings excludes one-time stock-based compensation expense of $3,700,069(3) "Quarter B" is for the two months ended Dec. 31, 2006 Book

Current Price to Debt Adjusted Value Price toCompany Symbol Price Market Current Quick 12-Month Price to per share Book

July 12/07 Capitalization Ratio Ratio Trailing EPS Trailing EPS (Cdn$) Value Rev. Earn. EPS Rev. Earn. EPS Rev. Earn. EPS Rev. Earn. EPS Rev. Earn. EPS

Antigua Enterprises (US$) (ANE:TSX-V) 0.255 10,769 1.6 0.5 6.0 2.6 0.37 0.7 11,530 (213) (0.005) 13,384 554 0.013 12,565 602 0.014 15,841 747 0.017 11,948 886 0.021

Asian Television Network (SAT:TSX-V) 2.10 51,274 1.4 1.4 26.3 26.4 0.10 20.5 4,184 565 0.023 3,406 446 0.018 2,822 527 0.022 2,387 420 0.017 2,431 320 0.013

Audiotech Healthcare (AUD:TSX-V) 0.20 2,646 1.0 0.9 33.3 43.9 0.08 2.4 1,069 64 0.005 938 17 0.001 812 (106) (0.008) 966 102 0.008 973 102 0.008

Axia NetMedia (AXX:TSX) 6.50 411,684 5.6 5.6 19.1 16.9 1.22 5.3 14,550 5,001 0.079 11,980 4,708 0.084 10,934 4,897 0.090 12,100 4,772 0.088 11,519 4,803 0.089

Bevo Agro (BVO:TSX-V) 0.27 6,895 0.8 0.3 20.8 78.4 0.38 0.7 4,611 271 0.011 4,114 (35) (0.001) 2,874 (408) (0.016) 8,557 491 0.019 5,160 460 0.018

Cash Canada Group (CUL:TSX-V) 0.285 4,004 4.0 2.4 7.9 2.1 0.38 0.8 3,798 79 0.006 3,984 80 0.006 3,987 160 0.011 3,622 183 0.013 3,247 53 0.004

Circa Enterprises (CTO:TSX) 1.13 10,723 2.1 0.9 25.7 10.9 1.17 1.0 7,764 (190) (0.020) 7,531 (174) (0.018) 10,975 476 0.050 8,804 306 0.032 9,479 523 0.055

Clemex Technologies (CXG.A:TSX-V) 0.26 4,886 2.2 1.5 28.9 24.6 0.06 4.3 1,464 79 0.004 1,398 40 0.002 1,284 24 0.001 1,544 43 0.002 1,565 172 0.009

Computer Modelling Group (CMG:TSX) 17.31 143,309 2.5 2.5 20.4 17.9 2.25 7.7 7,260 2,244 0.271 5,776 1,844 0.225 6,066 1,833 0.224 4,613 1,037 0.128 5,604 1,678 0.21

Consolidated Envirowaste (CWD:TSX-V) 0.59 6,145 1.3 1.0 17.4 28.2 0.65 0.9 5,690 (263) (0.025) 5,213 (411) (0.039) 8,291 281 0.027 8,692 735 0.071 7,755 128 0.012

Divcom Lighting (DVQ:TSX) 0.26 11,339 1.1 0.6 nm nm 0.37 0.7 9,709 (362) (0.008) 7,365 (240) (0.006) 10,474 (607) (0.014) 11,408 169 0.004 12,149 381 0.009

Energold Drilling (EGD:TSX-V) 3.93 90,095 4.6 3.0 19.8 15.9 0.83 4.7 7,473 819 0.037 6,667 1,724 0.078 7,700 1,197 0.054 7,000 627 0.029 4,100 149 0.007

Gemcom Software (GCM:TSX) 1.86 96,142 1.9 1.9 19.8 17.4 0.79 2.4 12,027 1,955 0.038 11,417 1,534 0.030 8,088 802 0.017 4,317 247 0.009 5,254 1,035 0.041

Hanfeng Evergreen (HF:TSX) 14.28 687,411 1.2 0.8 65.3 64.7 1.83 7.8 24,169 3,223 0.067 24,303 3,439 0.071 20,668 2,451 0.051 12,750 1,360 0.030 2,128 (177) (0.00)

International Road Dynamics (IRD:TSX) 2.30 31,995 1.7 1.1 14.4 11.3 1.18 1.9 11,124 714 0.051 8,296 387 0.028 11,811 756 0.055 9,147 362 0.026 7,199 448 0.032

International Technologies (ITI:TSX-V) 0.24 4,181 1.4 1.2 nm nm 0.34 0.7 3,112 141 0.008 4,703 (980) (0.056) 4,886 132 0.008 6,299 82 0.005 6,465 115 0.007

JEMTEC (JTC:TSX-V) 1.50 3,444 5.0 5.0 5.5 1.6 1.16 1.3 716 149 0.065 728 211 0.092 700 130 0.057 692 136 0.059 672 99 0.042

Migao (MGO:TSX) 9.30 329,927 5.1 4.0 27.5 24.1 2.25 4.1 27,712 3,338 0.105 21,731 2,409 0.083 15,434 1,956 0.067 15,426 2,006 0.083 15,100 2,949 n/a

MTY Food Group (MTY:TSX-V) 9.95 188,831 3.2 3.1 25.3 23.7 1.78 5.6 8,357 1,995 0.106 6,242 1,825 0.097 7,571 1,863 0.100 5,719 1,639 0.091 5,011 1,312 0.077

Omni-Lite Industries (US$) (OML:TSX-V) 2.24 24,792 0.8 0.4 16.1 16.6 0.93 2.4 1,633 736 0.066 839 (150) (0.014) 1,824 433 0.040 1,331 377 0.036 1,014 341 0.033

Optimal Geomatics (OPG:TSX-V) 0.145 8,901 2.3 2.3 nm nm 0.09 1.6 4,377 (704) (0.011) 3,603 (532) (0.009) 3,393 (750) (0.012) 3,860 (622) (0.011) 5,246 30 0.001

Pacific Insight Electronics (PIH:TSX) 4.15 25,377 5.0 3.2 8.6 5.5 2.75 1.5 8,706 608 0.099 9,465 782 0.129 9,455 656 0.110 10,551 870 0.146 10,132 612 0.105

Pacific Safety Products (PSP:TSX-V) 1.10 21,165 1.6 1.0 14.1 10.4 0.56 2.0 10,585 355 0.018 8,512 178 0.009 8,919 242 0.013 9,369 742 0.038 9,195 742 0.039

Payment Services Interactive (PSG:TSX-V) 1.11 11,702 1.6 1.6 11.9 10.4 0.25 4.4 1,207 265 0.025 1,205 269 0.026 1,042 208 0.020 1,003 190 0.022 991 149 0.024

Planet Organic Health (POH:TSX-V) 2.73 84,947 1.4 0.3 50.6 49.7 0.55 5.0 14,575 683 0.022 13,786 537 0.017 11,182 398 0.013 10,007 62 0.002 10,110 530 0.019

Prism Medical (PM:TSX-V) 3.17 19,068 2.2 1.1 11.5 13.5 3.04 1.0 10,131 205 0.034 10,718 215 0.036 9,992 1,016 0.168 11,064 224 0.038 10,304 194 0.033

Pyng Medical (1) (PYT:TSX-V) 0.52 5,149 5.2 4.3 13.7 10.4 0.36 1.4 1097 77 0.008 967 150 0.015 893 (108) (0.01) 985 236 0.025 703 (2) (0.000)

Rare Method (RAM:TSX-V) 0.16 4,067 1.1 1.1 26.7 25.8 0.16 1.0 2,250 (192) (0.008) 2,037 66 0.003 1,841 51 0.002 2,450 210 0.009 1,887 304 0.013

Raydan Manufacturing (RDN:TSX-V) 0.62 9,953 1.4 0.7 36.5 28.0 0.39 1.6 5,562 24 0.001 6,501 351 0.022 5,806 102 0.006 2,450 (181) (0.012) 3,836 136 0.009

Royal Laser (2) (RLC:TSX) 0.57 52,954 1.4 0.9 nm nm 0.88 0.6 57,300 (2,285) (0.027) 56,953 255 0.003 68,648 1,018 0.011 57,405 826 0.012 18,636 (522) (0.016)

Sangoma Technologies (STC:TSX-V) 1.35 37,409 7.4 5.2 22.5 19.7 0.40 3.4 2,238 579 0.021 1,802 506 0.018 1,546 401 0.014 1,322 186 0.007 1,330 371 0.014

Savaria (SIS:TSX) 1.58 45,465 2.8 1.8 22.9 15.6 0.85 1.9 14,446 639 0.022 14,624 692 0.024 14,081 582 0.020 15,293 87 0.003 15,249 544 0.018

Sigma Ventures (SVX:TSX-V) 0.88 32,001 1.2 0.7 14.0 18.3 0.40 2.2 22,895 1,033 0.030 26,304 1,650 0.048 11,564 436 0.014 2,868 (549) (0.029) 5,895 359 0.020

Steeplejack (SID:TSX) 10.00 102,070 1.1 1.1 10.7 11.8 4.30 2.3 25,381 1,881 0.184 27,179 2,000 0.196 35,207 2,704 0.265 35,198 2,940 0.288 20,506 385 0.038

Telehop Communications (HOP:TSX-V) 0.63 8,067 2.5 2.5 8.2 4.7 0.35 1.8 4,992 196 0.016 5,562 253 0.020 5,452 287 0.023 5,130 221 0.018 5,037 263 0.021

The SKOR Food Group (SKF:TSX-V) 0.72 18,539 1.7 0.9 11.4 5.8 0.67 1.1 40,536 62 0.002 44,976 479 0.019 64,582 503 0.020 49,934 539 0.022 18,354 356 0.020

Triant Holdings (TNT:TSX) 1.85 7,711 3.3 3.1 nm nm 0.74 2.5 820 (667) (0.161) 1,682 83 0.020 2,290 520 0.125 1,623 63 0.015 736 (524) (0.127)

VantagePoint Systems (US$) (VPG:TSX-V) 0.42 6,062 1.4 1.4 14.8 14.2 0.24 1.8 3,390 288 0.020 2,516 102 0.007 2,870 51 0.004 2,286 (76) (0.005) 2,236 58 0.004

VendTek Systems (VSI:TSX-V) 0.91 39,477 1.9 1.1 41.4 38.9 0.07 12.9 17,292 97 0.002 16,415 268 0.006 16,827 231 0.006 14,899 320 0.008 13,468 106 0.003

O&G SERVICE COMPANIES

Baden Technologies (BDZ:TSX-V) 0.64 10,941 1.3 0.5 15.2 14.3 0.08 8.0 3,731 325 0.019 1,645 (283) (0.017) 2,924 225 0.013 2,788 464 0.027 1,368 198 0.013

Dalmac Energy (DAL:TSX-V) 0.60 7,431 4.1 4.1 8.0 5.6 0.77 0.8 3,186 402 0.032 2,226 (255) (0.021) 2,195 (86) (0.007) 4,018 535 0.071 4,533 412 0.055

Divestco (DVT:TSX) 3.95 141,201 0.5 0.5 6.7 8.0 2.30 1.7 26,793 4,071 0.115 30,546 8,690 0.249 38,257 3,783 0.111 18,056 3,550 0.113 19,605 3,591 0.119

Enterprise Oilfield (E:TSX-V) 0.90 35,824 1.8 1.8 17.6 13.6 0.68 1.3 18,843 2,118 0.080 4,737 (584) (0.023) 7,001 1,073 0.05 6,078 (1,273) (0.056) 14,323 2,288 0.130

Galvanic Applied Sciences (GAV:TSX-V) 0.98 15,260 3.0 1.7 9.5 5.4 0.85 1.2 4,013 424 0.027 4,624 238 0.015 4,113 525 0.034 5,040 423 0.027 3,887 467 0.029

Global Energy Services (GLK:TSX-V) 0.28 5,269 1.6 1.4 nm nm 0.41 0.7 3,537 (600) (0.032) 2,605 63 0.003 2,640 (8) (0.000) 2,133 (204) (0.011) 4,052 698 0.038

Hyduke Energy Services (3) (HYD:TSX-V) 1.52 33,364 2.3 1.5 4.4 1.7 1.60 1.0 20,320 1,236 0.056 14,251 1,583 0.072 28,401 2,303 0.105 23,056 2,407 0.110 24,132 1,806 0.083

ILI Technologies (ILI:TSX-V) 1.00 20,221 10.4 8.0 nm nm 0.39 2.5 2,963 410 0.02 1,216 (771) (0.04) 1,833 414 0.028 1,152 66 0.005 526 (160) (0.013)

Questor Technology (QST:TSX-V) 0.77 18,293 1.4 1.1 15.7 14.6 0.12 6.5 960 128 0.005 664 700 0.030 824 107 0.004 952 238 0.010 783 151 0.006

Titan Logix (TLA:TSX-V) 0.43 10,296 4.4 2.8 10.2 6.4 0.17 2.5 1,845 103 0.004 2,070 242 0.011 2,310 302 0.015 1,943 205 0.012 1,725 (28) (0.002)

Tornado Technologies (TDO:TSX-V) 0.99 14,727 1.7 0.8 6.1 4.2 0.83 1.2 15,097 354 0.023 12,996 642 0.039 14,085 1,184 0.073 5,913 332 0.026 8,062 406 0.037

Average 2.55 1.93 18.89 18.23 3.06

n/a = not available nm = not meaningful US$ = results reported in U.S. dollars

Disclaimer: This information is provided using the most recent information available to QIS Capital Corp. QIS Capital Corp. cannot be held liable for the accuracy of any information provided in this chart.

Five Running Quartes of Previous Results - Begins With the Latest Quarter (A) on the LeftQuarter EQuarter A Quarter B Quarter C Quarter D

Copyright © 2006, QIS Capital Corp., www.qiscapital.com, (250) 376-8989

6

Gross Margin - Industrials

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

VendTek SystemsRoyal Laser

Sigma VenturesThe SKOR Food Group

Consolidated Envirow asteHanfeng Evergreen

Circa EnterprisesRaydan Manufacturing

SteeplejackMigao

Pacif ic Safety ProductsSavaria

Optimal GeomaticsInternational TechnologiesPacif ic Insight ElectronicsAsian Television Netw ork

International Road DynamicsAntigua Enterprises

Divcom LightingPrism Medical

Energold DrillingVantagePoint

Bevo AgroPlanet Organic Health

Telehop CommunicationsMTY Food Group

Axia NetMediaClemex Technologies

Payment Services InteractiveCash Canada Group

JEMTECAudiotech Healthcare

Pyng MedicalSangoma Technologies

Triant HoldingsOmni-Lite Industries

Computer Modelling GroupRare Method

Gemcom Softw are

Co

mp

an

y

Gross Margin

Gross Margin - O&G Service Companies

0% 10% 20% 30% 40% 50% 60%

Hyduke Energy ServicesTornado Technologies

Enterprise Oilf ieldBaden Technologies

Dalmac EnergyILI Technologies

Galvanic Applied SciencesTitan Logix

Questor TechnologyGlobal Energy Services

Divestco

Co

mp

an

y

Gross Margin

7

Net Margin - Industrials

-100% -80% -60% -40% -20% 0% 20% 40% 60%

Triant HoldingsOptimal Geomatics

Consolidated Envirow asteDivcom Lighting

Circa EnterprisesBevo Agro

Rare MethodRoyal Laser

The SKOR Food GroupVendTek Systems

Prism MedicalCash Canada GroupAntigua Enterprises

Raydan ManufacturingPacif ic Safety Products

Clemex TechnologiesTelehop Communications

Audiotech HealthcarePlanet Organic Health

SavariaInternational Technologies

Sigma VenturesInternational Road Dynamics

VantagePointPacif ic Insight Electronics

SteeplejackEnergold Drilling

Pyng MedicalMigao

Gemcom Softw areHanfeng Evergreen

Asian Television Netw orkPayment Services Interactive

JEMTECMTY Food Group

Sangoma TechnologiesComputer Modelling Group

Axia NetMediaOmni-Lite Industries

Co

mp

an

y

Net Margin

Net Margin - O&G Service Companies

-20% -15% -10% -5% 0% 5% 10% 15% 20%

Global Energy ServicesDalmac Energy

Tornado TechnologiesHyduke Energy Services

Enterprise Oilf ieldBaden Technologies

Galvanic Applied SciencesTitan Logix

Questor TechnologyILI Technologies

Divestco

Co

mp

an

y

Net Margin

8

Long-Term Debt to Equity - Industrials

0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8

Bevo AgroSigma Ventures

Audiotech HealthcarePrism Medical

Consolidated Envirow asteAsian Television Netw orkInternational Technologies

Divcom LightingOptimal Geomatics

SteeplejackVantagePoint

Clemex TechnologiesCash Canada Group

SavariaRoyal Laser

Antigua EnterprisesInternational Road Dynamics

Energold DrillingPlanet Organic Health

VendTek SystemsThe SKOR Food Group

JEMTECRaydan Manufacturing

Circa EnterprisesMTY Food Group

Pacif ic Safety ProductsAxia NetMedia

Rare MethodOmni-Lite Industries

Pyng MedicalTriant Holdings

Telehop CommunicationsSangoma Technologies

Payment ServicesPacif ic Insight Electronics

MigaoHanfeng EvergreenGemcom Softw are

Computer Modelling Group

Co

mp

an

y

LT Debt/Equity Ratio

Long-Term Debt to Equity - O&G Service Companies

0.0 0.1 0.1 0.2 0.2 0.3 0.3 0.4 0.4 0.5

Tornado TechnologiesDalmac Energy

Enterprise Oilf ieldDivestco

Hyduke Energy ServicesQuestor TechnologyBaden Technologies

ILI TechnologiesTitan Logix

Global Energy ServicesGalvanic Applied Sciences

Co

mp

an

y

LT Debt/Equity Ratio

9

Market Capitalization - Industrials

$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000

Audiotech HealthcareJEMTEC

Cash Canada GroupRare Method

International TechnologiesClemex Technologies

Pyng MedicalVantagePoint

Consolidated Envirow asteBevo Agro

Triant HoldingsTelehop Communications

Optimal GeomaticsRaydan Manufacturing

Circa EnterprisesAntigua Enterprises

Divcom LightingPayment Services Interactive

The SKOR Food GroupPrism Medical

Pacif ic Safety ProductsOmni-Lite Industries

Pacif ic Insight ElectronicsInternational Road Dynamics

Sigma VenturesSangoma Technologies

VendTek SystemsSavaria

Asian Television Netw orkRoyal Laser

Planet Organic HealthEnergold Drilling

Gemcom Softw areSteeplejack

Computer Modelling GroupMTY Food Group : $189 million

Migao : $330 millionAxia NetMedia : $412 million

Hanfeng Evergreen : $687 million

Co

mp

an

y

Dollars (000's)

Market Capitalization - O&G Service Companies

$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000

Global Energy ServicesDalmac Energy

Titan LogixBaden Technologies

Tornado TechnologiesGalvanic Applied


Hyduke Energy ServicesEnterprise Oilf ield

Divestco

Co

mp

an

y

Dollars (000's)

10

ILI Technologies(2002) Corp.

ILI : TSX-V

CORPORATE PROFILE JULY 2007

ILI Technologies is a rapidly emerging small-cap company specializing in the provision of innovativeproducts to the oil and gas sector. The company has recently undergone a significant growth curve withannual revenues increasing multi-fold. The majority of this growth has come from new distributionagreements following the 2006 purchase of a coalbed methane (CBM) pump supplier.

ILI’s strategy is to utilize existing and new distribution channels to increase sales for pumps and pipingproducts and to manufacture and integrate automated data collection systems to assist customers inincreasing profitability and economic productivity.

PRODUCTS

ILI Technologies has acquired the rights to distribute Thermoflex pipe which hasbeen the main catalyst for the company’s dramatic sales growth. This flexiblepiping system can be applied in areas where only steel piping could be used in thepast. Thermoflex pipe uses a multi-layer design with mixed plastics to achieve farsuperior performance compared to traditional flexible pipe.

With a wide variety of applications, ILI’s electric submersible pumps (ESP) canprovide a cost effective lift solution. In wells with declining reservoir pressure oreven in sand producing wells, an ESP pump can provide an economical lift methodversus traditional production methods. CBM Pumps & Services supplies andservices a wide variety of ESP solutions.

ILI also offers other products including TOUCHtrax™ (RFID), SANDtrax, andPRESSUREtrax™. TOUCHtrax is a cost effective inventory identification product.ILI has developed a unique method of embedding RFID (radio frequencyidentification) tags into metal for extremely harsh environments.

SANDtrax is an innovative method for oil and gas producers to determine thepresence of sand in the flow stream without the use of radioactive materials,dyes, or other hazardous markers.

PRESSUREtrax™ is a battery powered, stand-alone system that can recordpressure, temperature, rate, and time simultaneously while displaying this dataon a remote computer or a local display.

11


RECENT FINANCIAL RESULTS

3 months ended Mar. 31 Year ended Dec. 31

2007 2006 2006 2005

Revenues $ 2,962,293 $ 526,041 $ 4,726,456 $ 1,100,159

Net Income 409,857 (159,669) (447,476) (67,521)

per share 0.02 (0.01) (0.033) (0.007)




Current Liabilities 696,160



SUMMARY

ILI has laid the foundation for significant revenue and earningsgrowth largely through the CBM acquisition and the distributionrights for Thermoflex Tubing. The company has dramaticallyincreased its sales and marketing efforts with new operations in theU.S. and Mexico. Management has indicated that the company hasseveral quotes in the process of review by other potentialcustomers. In addition, ILI will continue to seek out and considerother potential accretive acquisitions.

In late March 2007, ILI announced a significant contract valued atUS$9.5 million for Thermoflex Tubing, associated connectors andfor ESP pump products setting the stage for 2007. The companyhas a healthy balance with minimal debt and positive workingcapital of $6.5 million or $0.30 per share.

Symbol ILI



52-Week Hi-Lo $1.38 - $0.35

Shares Outstanding (as at June 21) 21.5 million

- fully-diluted 25.7 million

Management & Insiders 20-25% (includes Sprott Asset Management holdings)


Working Capital (as at Mar. 31) $6.5 million

- per share $0.30

KEY PERSONNEL HEAD OFFICE

Serge Bonnet, President & CEO 110W, 4760 - 72nd Avenue SE

Guy Farebrother, Chief Technology Officer Calgary, Alberta T2C 3Z2

Alice Mayer, Corporate Secretary Phone: (403) 543-0060

Thomas Milley, Director Fax: (403) 543-0069

Ed Michielsen, Director Email: [email protected]

John MacMillan, Director Website: www.ilitech.com

Investor Contact: Serge Bonnet

12


http://www.ilitech.com/

Current Ratio - Industrials

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0

Bevo AgroOmni-Lite Industries

Audiotech HealthcareSteeplejack

Divcom LightingRare Method

Sigma VenturesHanfeng Evergreen

Consolidated Envirow asteAsian Television Netw orkInternational Technologies

Planet Organic HealthRaydan Manufacturing

Royal LaserVantagePoint

Pacif ic Safety ProductsAntigua Enterprises

Payment ServicesInternational Road Dynamics

The SKOR Food GroupGemcom Softw areVendTek Systems

Circa EnterprisesClemex Technologies

Prism MedicalOptimal Geomatics

Computer Modelling GroupTelehop Communications

SavariaMTY Food Group

Triant HoldingsCash Canada Group

Energold DrillingPacif ic Insight Electronics

JEMTECMigao

Pyng MedicalAxia NetMedia

Sangoma Technologies

Co

mp

an

y

Current Ratio

Current Ratio - O&G Service Companies

0.0 2.0 4.0 6.0 8.0 10.0 12.0

DivestcoBaden TechnologiesQuestor Technology

Global Energy ServicesTornado Technologies

Enterprise Oilf ieldHyduke Energy Services

Galvanic AppliedDalmac Energy

Titan LogixILI Technologies

Co

mp

an

y

Current Ratio

13

Quick Ratio - Industrials

0.0 1.0 2.0 3.0 4.0 5.0 6.0

Bevo AgroPlanet Organic Health

Omni-Lite IndustriesAntigua Enterprises

Divcom LightingSigma Ventures

Raydan ManufacturingHanfeng Evergreen

Royal LaserAudiotech Healthcare

The SKOR Food GroupCirca Enterprises

Consolidated Envirow astePacif ic Safety Products

SteeplejackRare Method

International Road DynamicsVendTek Systems

Prism MedicalInternational TechnologiesAsian Television Netw ork

VantagePointClemex Technologies

Payment ServicesSavaria

Gemcom Softw areOptimal Geomatics

Cash Canada GroupComputer Modelling Group

Telehop CommunicationsEnergold Drilling

MTY Food GroupTriant Holdings

Pacif ic Insight ElectronicsMigao

Pyng MedicalJEMTEC

Sangoma TechnologiesAxia NetMedia

Co

mp

an

y

Quick Ratio

Quick Ratio - O&G Service Companies

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0

DivestcoBaden Technologies

Tornado TechnologiesQuestor Technology

Global Energy ServicesHyduke Energy Services

Galvanic Applied SciencesEnterprise Oilf ield

Titan LogixDalmac Energy

ILI Technologies

Co

mp

an

y

Quick Ratio

14

12-Month Trailing Revenues - Industrials

$0 $50,000 $100,000 $150,000 $200,000 $250,000

JEMTECAudiotech Healthcare

Pyng MedicalPayment Services

Omni-Lite Industries (US$)Clemex Technologies

Triant HoldingsSangoma Technologies

Rare MethodVantagePoint (US$)

Asian Television Netw orkOptimal Geomatics

Cash Canada GroupInternational Technologies

Bevo AgroRaydan Manufacturing

Telehop CommunicationsComputer Modelling GroupConsolidated Envirow aste

MTY Food GroupEnergold Drilling

Circa EnterprisesGemcom Softw are

Pacif ic Safety ProductsPacif ic Insight Electronics

Divcom LightingInternational Road Dynamics

Prism MedicalPlanet Organic Health

Axia NetMediaAntigua Enterprises (US$)

SavariaSigma Ventures

VendTek SystemsMigao

Hanfeng EvergreenSteeplejack

The SKOR Food GroupRoyal Laser

Co

mp

an

y

Dollars (000's)

12-Month Trailing Revenues - O&G Service Companies

$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000


Titan LogixGlobal Energy Services

Baden TechnologiesDalmac Energy

Galvanic Applied SciencesEnterprise Oilf ield


Divestco

Co

mp

an

y

Dollars (000's)

15

12-Month Trailing Earnings - Industrials

-$4,000 $0 $4,000 $8,000 $12,000 $16,000 $20,000

Optimal GeomaticsDivcom Lighting

International TechnologiesRoyal Laser

Triant HoldingsAudiotech Healthcare

Rare MethodClemex Technologies

Raydan ManufacturingBevo Agro

Consolidated Envirow astePyng Medical

VantagePoint (US$)Circa Enterprises

Cash Canada GroupJEMTEC

VendTek SystemsPayment Services

Telehop CommunicationsOmni-Lite Industries (US$)

Pacif ic Safety ProductsThe SKOR Food Group

Prism MedicalSangoma TechnologiesPlanet Organic Health

Antigua Enterprises (US$)Asian Television Netw ork

SavariaInternational Road Dynamics

Sigma VenturesPacif ic Insight Electronics

Energold DrillingGemcom Softw are

Computer Modelling GroupMTY Food Group

SteeplejackMigao

Hanfeng EvergreenAxia NetMedia

Co

mp

an

y

Dollars (000's)

12-Month Trailing Earnings - O&G Service Companies

-$3,000 $0 $3,000 $6,000 $9,000 $12,000 $15,000 $18,000 $21,000

Global Energy ServicesILI Technologies

Dalmac EnergyBaden Technologies

Titan LogixQuestor Technology

Enterprise Oilf ieldGalvanic Applied

Tornado TechnologiesHyduke Energy

Divestco

Co

mp

an

y

Dollars (000's)

16

12-Month Trailing EPS - Industrials

-$0.10 $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80 $0.90 $1.00

Optimal GeomaticsInternational Technologies

Divcom LightingTriant Holdings

Royal LaserRare Method

Audiotech HealthcareClemex Technologies

Bevo AgroRaydan Manufacturing

VendTek SystemsVantagePoint (US$)

Consolidated Envirow asteCash Canada Group

Pyng MedicalAntigua Enterprises (US$)

Circa EnterprisesPlanet Organic Health

Sangoma TechnologiesThe SKOR Food Group

Sigma VenturesSavaria

Telehop CommunicationsPacif ic Safety Products

Asian Television Netw orkPayment Services

Gemcom Softw areOmni-Lite Industries (US$)

International Road DynamicsEnergold Drilling

Hanfeng EvergreenJEMTEC

Prism MedicalMigao

Axia NetMediaMTY Food Group

Pacif ic Insight ElectronicsComputer Modelling Group

Steeplejack

Co

mp

an

y

Dollars

12-Month Trailing EPS - O&G Service Companies

-$0.10 $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60

Global Energy ServicesILI Technologies

Baden TechnologiesTitan Logix

Questor TechnologyEnterprise Oilf ield

Dalmac EnergyGalvanic Applied

Tornado TechnologiesHyduke Energy

Divestco

Co

mp

an

y

Dollars

17

Price to Book Value - Industrials

0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 22.0

Asian Television Netw orkVendTek Systems

Hanfeng EvergreenComputer Modelling Group

MTY Food GroupAxia NetMedia

Planet Organic HealthEnergold Drilling

Payment Services InteractiveClemex Technologies

MigaoSangoma Technologies

Triant HoldingsAudiotech HealthcareOmni-Lite Industries

Gemcom Softw areSteeplejack

Sigma VenturesPacif ic Safety Products

International Road DynamicsSavaria

Telehop CommunicationsVantagePoint

Raydan ManufacturingOptimal Geomatics

Pacif ic Insight ElectronicsPyng Medical

JEMTECThe SKOR Food Group

Prism MedicalRare Method

Circa EnterprisesConsolidated Envirow aste

Cash Canada GroupBevo Agro

Divcom LightingInternational Technologies

Antigua EnterprisesRoyal Laser

Co

mp

an

y

Price/Book Value Ratio

Price to Book Value - O&G Service Companies

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0

Baden TechnologiesQuestor Technology

ILI TechnologiesTitan Logix

DivestcoEnterprise Oilf ield

Tornado TechnologiesGalvanic Applied

Hyduke Energy ServicesDalmac Energy

Global Energy Services

Co

mp

an

y

Price/Book Value Ratio

18

AUD - TSX-V

“hearing the needs of tomorrow ...today”

JUNE 2007

CORPORATE PROFILE

Audiotech Healthcare Corporation owns and operates a network of 15 hearing healthcare clinics locatedin Western Canada and the Pacific Northwest United States. Since becoming publicly traded in 1997, theCompany has grown through acquisitions and the successful start-up of full-fledged and satellite clinics.

As North America's "baby-boomer" generation grows older, the demand for hearing care services isexpected to increase considerably. Audiotech’s goal is to establish a geographically diverse base ofhearing clinics throughout North America upon completing the consolidation of profitable clinics in thePacific Northwest.

OPERATIONS

Working closely with the medical community, Audiotech's clinics

provide a variety of hearing healthcare services including hearing

assessments and rehabilitation, balance disorder treatment, education,

and counseling. Each clinic also sells sophisticated hearing aids to suit

all types of hearing loss and lifestyles. Assessments regarding the level

of amplification that would be best suited to the patient are completed

following a comprehensive hearing evaluation by a qualified audiologist.

The most effective hearing aid instrument is then selected and fitted to

the patient. Once fitted, the patient is required to return to the clinic

periodically to maintain the instrument and for follow-up care. Every

two to three years, hearing re-evaluations are recommended to detect

further hearing impairment. On average, deterioration of hearing, the

introduction of new technology, or simple wear-and-tear, result in the

replacement of hearing aids every four to five years.

Audiotech has recently invested a significant amount of resources to offer both hearing and balance services in

the Pacific Northwest. Management believes that the need for effective assessment and treatment of balance

disorders is gaining great awareness in U.S. and that this trend will soon follow in Canada. Doctor referrals to

Audiotech’s U.S. clinics for hearing tests are already increasing due to the full service of hearing and balance care.

Each clinic also provides secondaryservices including hearing aid repair andthe sale of replacement batteries andother accessories such as telephoneamplifiers. These services help maintainclose contact with each patient therebyencouraging repeat business and customerreferrals. Approximately 20% of theCompany's revenues are derived from thesale of these secondary products andservices.

19


RECENT FINANCIAL RESULTS

3 months ended Mar. 31 6 months ended Mar. 31

2007 2006 2007 2006

Revenues $1,068,946 $ 972,977 $2,006,861 $1,774,007

Gross Profit 740,925 667,199 1,399,517 1,214,107

Other Clinic Costs 534,762 443,090 1,042,855 868,425

Debenture Discount 4,255 6,375 10,630 12,750

Interest on LT Debt 29,263 26,112 53,072 51,653

Net Income 64,049 101,969 81,049 106,116

per share 0.005 0.008 0.006 0.008




Current Liabilities 1,106,916



SUMMARY

Over the past few years, management has worked aggressively to structure the

Company for further growth by reducing overhead costs, refinancing debt

obligations under favorable terms, opening clinics in new markets, increasing

service capacity at existing clinics, and re-negotiating bulk purchase and

marketing agreements with major hearing aid manufacturers.

Audiotech is focusing on internal growth through new clinic openings,

existing clinic expansions and the opening of satellite clinics. Management

is optimistic that Audiotech will be able to announce more initiatives shortly to

stimulate additional sales, cash flow, and earnings growth.

Symbol AUD



52-Week Hi-Lo $0.23 - $0.155

Shares Outstanding (as at Mar. 31, 2007) 13,229,825

- fully-diluted 13,879,825

Management & Insiders 62%


KEY PERSONNEL HEAD OFFICE

Osvaldo “Ozzie” Iadarola, President & CEO

Darryl Walker, CFO

Daniel Allen, VP & Chief Operations Manager - Canada

Gerald Mill, Chief Operations Manager - Idaho

Grant Robertson, Director

Glen Martin, Director

Suite 760, 175 - 2nd AvenueKamloops, BC V2C 5W1

Phone: (250) 372-5847

Toll Free: 1-888-590-3555

Fax: (250) 372-3859

Email: [email protected]

Website: www.audiotech.org

Investor Contact: Ozzie Iadarola

20


http://www.audiotech.org/

Price to 12-Month Trailing Earnings - Industrials

0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0

Triant Holdings (nm)Optimal Geomatics (nm)

Divcom Lighting (nm)International Tech. (nm)

Royal Laser (nm)Hanfeng Evergreen

Planet Organic HealthVendTek Systems

Raydan ManufacturingAudiotech HealthcareClemex Technologies

MigaoRare Method

Asian Television Netw orkCirca EnterprisesMTY Food Group

SavariaSangoma Technologies

Bevo AgroComputer Modelling Group

Energold DrillingGemcom Softw are

Axia NetMediaConsolidated Envirow aste

Omni-Lite IndustriesVantagePoint

International Road DynamicsPacif ic Safety Products

Sigma VenturesPyng Medical

Payment Services InteractivePrism Medical

The SKOR Food GroupSteeplejack

Pacif ic Insight ElectronicsTelehop Communications

Cash Canada GroupAntigua Enterprises

JEMTEC

Co

mp

an

y

Price/Earnings Ratio

Price to 12-Month Trailing Earnings - O&G Service Companies

0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0

ILI Technologies (nm)Global Energy (nm)

Enterprise Oilf ieldQuestor TechnologyBaden Technologies

Titan LogixGalvanic Applied Sciences

Dalmac EnergyDivestco


Co

mp

an

y


21

Debt Adjusted Price to 12-Month Trailing Earnings - Industrials

0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0

Triant Holdings (nm)Optimal Geomatics (nm)

Divcom Lighting (nm)International Tech. (nm)

Royal Laser (nm)Bevo Agro

Hanfeng EvergreenPlanet Organic HealthAudiotech Healthcare

VendTek SystemsConsolidated Envirow aste

Raydan ManufacturingAsian Television Netw ork

Rare MethodClemex Technologies

MigaoMTY Food Group

Sangoma TechnologiesSigma Ventures

Computer Modelling GroupGemcom Softw are

Axia NetMediaOmni-Lite Industries

Energold DrillingSavaria

VantagePointPrism Medical

SteeplejackInternational Road Dynamics

Circa EnterprisesPayment Services Interactive

Pacif ic Safety ProductsPyng Medical

The SKOR Food GroupPacif ic Insight ElectronicsTelehop Communications

Antigua EnterprisesCash Canada Group

JEMTEC

Co

mp

an

y


Debt Adj. Price to 12-Month Tr. Earnings - O&G Service Co.'s

0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0

ILI Technologies (nm)Global Energy (nm)

Questor TechnologyBaden Technologies

Enterprise Oilf ieldDivestco

Titan LogixDalmac Energy

Galvanic Applied SciencesTornado Technologies

Hyduke Energy Services

Co

mp

an

y


22

GLOSSARY OF TERMS

Book ValueTotal assets minus liabilities or shareholders’ equity. Represents the value remaining for shareholders ifthe company was liquidated

Current RatioCurrent assets divided by current liabilities. Measures the company’s ability to meet its short-termobligations with its cash and other liquid assets

Debt Adjusted Price to 12-Month Trailing Earnings((Market capitalization + long-term debt - working capital) / shares outstanding) / 12-month trailingearnings per share

EBITDAEarnings before interest, taxes, depreciation and amortization

Gross MarginSales minus costs of goods sold, then divided by sales

Long-Term DebtDebt that becomes due after more than one year

Market CapitalizationCurrent share price multiplied by number of shares outstanding

Net MarginNet earnings divided by sales

Normalized EarningsNet earnings before extraordinary items and discontinued operations

Price to 12-Month Trailing EarningsCurrent share price divided by earnings per share on a 12-month trailing basis (four most recentlyannounced quarters)

Price to Book Value per shareCurrent share price divided by book value per common share outstanding

Quick RatioCurrent assets minus inventory, then divided by current liabilities

Working CapitalCurrent assets minus current liabilities. Measures the company’s ability to meet its short-term obligationswith its cash and other liquid assets

23

TERMS AND ABBREVIATIONS

nm not meaningfuln/a not availablenr not releasedUS$ financial results displayed in U.S. dollarsU$ share price listed in U.S. currency

Disclaimer: These charts were completed by QIS Capital Corp. based on information provided in publicdocuments. While care has been taken in the preparation of these charts, the accuracy of such is not guaranteed.These comparison charts should not be construed as offering investment advice. Investors should consult with aqualified and registered investment professional before making any investment decisions. These charts are subjectto change without notice. QIS Capital received no fees for the inclusion of any company in these comparison charts;however, the companies whose profiles appear throughout this document have either paid a fee for the inclusion ofa corporate profile or have an existing financial relationship with QIS Capital. Copyright ©2007, QIS CapitalCorporation.

These charts are produced on a monthly basis by:

QIS CAPITAL CORPORATION2116 Young Avenue

Kamloops, BC V2B 4M6

Phone: (250) 376-8989Fax: (250) 376-7858

Website: www.qiscapital.comEmail: [email protected]

24

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