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    OTCBB Stock Watch – Artificial Life posts Record Quarter with Anticipation of Better Valuation

    Artificial Life Inc. (OTCBB: ALIF) shares have held a strong performance over the last month following the strong download numbers and key ranking statistics concerning its iPhone/iPod and iPad title sales. In addition, on November 12, the company reported strong increases in revenues and profits for the third quarter of 2010, which could trigger a strong price appreciation going forward.  Artificial Life was traded in the range of $1.15 at November 12.

    Artificial Life engages in the development, marketing, distribution and sale of software applications and technologies for wireless telecommunications devices and mobile phones. The company offers mobile games primarily for broadband networks and mobile phones. Artificial Life also provides mobile software packages, including MoPA-TV, a mobile controlled interactive for television shows and formats; Mobile Diab and Mobile Property, used for mobile business applications; Mobile Booster, a mobile technology and productivity tool; and SmartEngine Mobile Platform, a mobile technology platform for 2G and 3G phones, and mobile devices.

    The release of the carrier grade m-commerce platform, OPUS-M, in the first quarter of 2010 has contributed decisively to the strong revenue and earnings growth in the second quarter and the third quarter of 2010. Revenues for the third quarter of 2010 increased 21% to $10.6 million, as compared to $8.7 million in the third quarter of 2009, due to revenue recognized from global license deals for its m-commerce platform, OPUS-M™, as well as license income from the sales of its Mobile Diab® product.

    The record quarter in terms of revenues turned into a record third quarter 2010 in terms of net profits, which grew 29% to $5.1 million, as compared to net income of $3.9 million for the third quarter ended September 30, 2009. The diluted EPS for the third quarter of 2010 stood at $0.08, representing the same level as in Q3 2009.

    Beside the success of OPUS-M™, Artificial Life reported strong demand for its iPhone and iPad portfolio of games. The total number of iPhone/iPad game downloads generated in 2010 through October 31, 2010, was approximately 12 million compared to approximately 8 million for the entire fiscal year of 2009. As a result, the total number of iPhone downloads approached 20 million.

    Moreover, the strong growth and demand for the iPhone products encouraged Artificial Life to develop more iPhone/iPad games titles, to focus on the Android platform as well and rollout its offering internationally. The company is also targeting to leverage its m-commerce Opus- M™ platform to develop new engaging and innovative social network games and business products, the first being scheduled for commercial launch in the first quarter of 2011.

    Over the short term the company’s valuation is still dogged by a significant and increasing accounts receivable balance. As of September 30, Artificial Life accounts receivables stood at $31.2 million, compared to $22.1 million at June 30 and $18.8 million at March 31.

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