WEE Wavefront Technology Solutions Inc

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Wavefront Technology Solutions Inc. ("Wavefront" or the "Corporation") (TSX
VENTURE:WEE) (PINK SHEETS:WFTSF), a leader in technology development and
implementation for improved oil recovery and optimized groundwater remediation
announces its financial and operating results for the second quarter ended
February 28, 2011. Gross revenue doubled over the comparative period and
amounted to $1,002,893. Net losses for the period decreased by over 50% to
$870,610, and loss per share, basic and diluted, was $0.01 versus $0.03 for the
comparative period.


"Although there remains much to accomplish we are pleased with our progress in
the first half of fiscal 2011 and are on track with our expectations of
increasing revenue and reducing expenses," said Wavefront President and CEO
Brett Davidson. "Wavefront continues to develop positive momentum and amass a
growing user community adopting our core technologies. We anticipate that the
revenue growth charted below will continue a positive upward trend in the second
half of the fiscal year."


To view the Quarterly Gross Revenue Comparison, visit the following link:
http://media3.marketwire.com/docs/427wee1.pdf


A summary of the second quarter 2011 results are as follows:



--  Revenue for the three months ended February 28, 2011 was $1,002,893. The
    increase of $502,255 over the comparative period that had revenues of
    $500,638. The recent history of increasing and doubling revenues is
    primarily a result of the adoption rate and commercialization efforts
    related to Powerwave and the recovery of the energy sector that has lead
    to increased activity in the tubing pump and bailer product lines
    product lines. 
    
--  During the fiscal quarter it was announced that the Corporations longest
    running Powerwave project in Eastern Alberta would be expanding by up to
    45 additional Powerwave systems. Subsequent to the fiscal quarter it was
    further announced that locations for the initial 31 of the potential 45
    systems had been identified and preparations are being made to initiate
    installation 
    
--  Expenses through the three month period were $1,873,503 compared to
    $2,278,970 for the comparative period in 2010, and are representative of
    a focus on operational excellence. 
    
--  Net loss for the three months ended February 28, 2011 was $870,610
    ($0.01 per share), compared to $1,778,332 ($0.03 per share) for the
    comparative period of February 28, 2010. 
    
--  Revenues for the six months ended February 28, 2011 were $1,928,068, an
    increase of $851,103 over the comparative period in 2010 that recognized
    revenues of $1,076,965. Core revenues related to the Powerwave and
    Primawave totalled $1,695,857, compared to core revenues of $956,829 for
    the comparative period. 
    
--  Total assets decreased by $2,279,434 to $34,893,048 from the
    Corporation's fiscal year ended August 31, 2010. The decrease was
    primarily due to a decrease of $2,723,592 in cash that was used to fund
    operations. As at February 28, 2011, the Corporation had cash and cash
    equivalents of $26,719,364. 
    
--  As at February 28, 2011, the Corporation had working capital of
    $27,365,394. The Corporation believes that its working capital position
    will continue to fluctuate despite having a significant increase in the
    number of Powerwave contracts in-hand, as Wavefront cannot control or
    dictate the installation schedules. The Corporation is of the opinion
    that its working capital position is sufficient to cover its current
    commitments and operations for the forthcoming fiscal year. It is also
    anticipated that internally generated cash from operations will continue
    to increase as the Corporation's core technologies continue to be
    commercialized and inducements and incentives decrease. 



The above financial highlights should be read in conjunction with the unaudited
consolidated financial statements and Management Discussion and Analysis of
results for Wavefront's most recently completed quarter, ended February 28, 2011
filed on SEDAR on April 27, 2011.


In addition, and in connection the Corporation's news release of April 8, 2011,
the TSX Ventures Exchange (the "Exchange") has approved the extension of the
term of 5,219,085 share purchase warrants (the "Warrants"), originally issued on
April 26, 2010. The expiry date of April 26, 2011 was extended to April 26,
2012. Due to certain policy requirements of the Exchange that could not be met
at this time, the Exchange denied the reduction of the exercise price of the
Warrants, and it will remain at $2.75 per share, subject to early expiry. 


The Warrants are still subject to early expiry, which can be triggered if the
volume weighted average trading price of the Corporation's shares equals or
exceeds $3.15 per share for a period of 20 consecutive trading days. In such
event, the Corporation has the right to accelerate the expiry date of the
Warrants by giving 30 days written notice to the warrant holders. 


ON BEHALF OF THE BOARD OF DIRECTORS

WAVEFRONT TECHNOLOGY SOLUTIONS INC.

D. Brad Paterson, CFO & Director

About Wavefront: 

Wavefront is a technology based, world leader in fluid injection technology for
improved/enhanced oil recovery and groundwater restoration. Wavefront publicly
trades on the TSX Venture Exchange under the symbol WEE and the Company's
website is www.onthewavefront.com.


Cautionary Disclaimer - Forward Looking Statement

Certain statements contained herein regarding Wavefront and its operations
constitute "forward-looking statements" within the meaning of Canadian
securities laws and the United States Private Securities Litigation Reform Act
of 1995. All statements that are not historical facts, including without
limitation statements regarding future estimates, plans, objectives, assumptions
or expectations or future performance, are "forward-looking statements". In some
cases, forward-looking statements can be identified by terminology such as
"may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate",
"predict", "potential", "believe", "continue" or the negative of these terms or
other comparable terminology. We caution that such "forward-looking statements"
involve known and unknown risks and uncertainties that could cause actual
results and future events to differ materially from those anticipated in such
statements. Such factors include fluctuations in the acceptance rates of
Wavefront's Powerwave and Primawave Processes, demand for products and services,
fluctuations in the market for oil and gas related products and services, the
ability of Wavefront to attract and maintain key personnel, technology changes,
global political and economic conditions, and other factors that were described
in further detail in Wavefront's continuous disclosure filings, available on
SEDAR at www.sedar.com. Wavefront expressly disclaims any obligation to up-date
any "forward-looking statements", other than as required by law.

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