Press Releases

November 8, 2011

myFreightWorld Techologies announces net loss of $373 thousand for third quarter;  revenue increases 23% over prior year; outlook improves

myFreightWorld Technologies, Inc. (Pink Sheets:  MYFT) announced third quarter losses of $373,000 vs. net profit of  $83,000 in the prior-year quarter.  For the nine months ended September 30, MYFT reported a net loss of $775,000 vs. a loss of $208,000 in the prior-year period.  Comparisons between the two years are affected by the inclusion in 2011 of results for Informed Logistics Technologies, LLC and MFW Holdings LLC, which had the effect of reducing reported third quarter earnings in 2011.

Revenues for the three months ended September 30, 2011were $3.4 million vs. $2.6 million in the year-earlier quarter, an increase of 29%.  Net margin increased for the quarter from $477,000 to $840,000, an increase of 76%. 

“We have seen a significant improvement in our continuing operations during the third quarter of 2011,” said Kevin C. Childress, President and Chief Executive Officer.  “Our basic business metrics such as daily loads, net margins and cash SG&A expenses show significant improvement both year over year and quarter over quarter.  In addition, we expect our current trajectory to produce profitability on an EBITDA basis by the second half of next year and to produce net profits within two to three quarters thereafter.”

In addition, MFW announced the retention of Weaver Martin & Samyn of Kansas City, Missouri to perform its year-end 2011 audit.  The audit and 2011 results will be completed and released on or before March 31, 2012.

A conference call with management to discuss results and prospects for the Company was held on Nov. 8th, 2011.

November 8th, 2011 Conference Call Notes:

Kevin Childress' comments

About myFreightWorld Technologies, Inc.

myFreightWorld Technologies Inc. is a business services firm that specializes in providing technology, transportation and supply chain management services to third-party logistics managers (3PLs) and transportation intermediaries (TIs), primarily in the United States. Leveraging its proprietary Web-based software platform, the Company provides its 3PL and Motor Carrier customers with a Customer Relationship Management (CRM) information pipeline that provides complete visibility to shippers, consignees and other interested suppliers of shipments during the entire Shipment Life Cycle. For more information, see www.myfreightworld.com.

The matters set forth in this press release may contain forward-looking statements regarding myFreightWorld and its business within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date on which they are made and myFreightWorld undertakes no obligation to publicly update or revise any forward-looking statement, whether as a consequence of new information, future events, or otherwise. Statements are subject to risks and uncertainties that may cause actual outcomes to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the OTC Pinksheets including the company's Annual Report, Quarterly Reports and other periodic filings