BOCA RATON, Fla., Oct. 20, 2005 (PRIMEZONE) -- Ringo, Inc. (Pink Sheets:RGOI) is pleased to introduce a patent pending proximity based advertising model to its location based service offerings. Ringo's new advertising model, a form of Location Based Advertising, is designed to maximize the effectiveness of advertising budgets by marketing directly to individual consumers located within a specific proximity of a business.
According to Edward DeFeudis, President and CEO of Ringo, Inc. "Ringo's Patent Pending Advertising Model has been compared to a 'street-level' Google. Ringo has coined the new term 'Cost by Radius' or 'CBR' advertising, which makes great use of even the smallest advertising budget."
Ringo's technology will issue coupons and advertisements, in either printed or electronic format, to consumers in taxicabs that are located within as little as 10 feet of an advertiser's place of business. This ad model allows businesses to devise target demographics on an individual level based on geographic proximity to their place of business. The term "Cost by Radius" refers to the pricing program that charges advertisers based on a specific radius of distance between the consumer and the business at the time an ad is placed or coupon is issued.
"Ringo's new advertising model based on our proprietary technology is very exciting and should generate significant revenues for the Company. Location based advertising is rapidly increasing in popularity by proving to be an innovative and highly efficient method for businesses to target consumers. Our revenue estimates project that our vehicles will each print one coupon per trip with 10 trips per day at an average of $0.15 per coupon. Assuming that we achieve our goal of 100,000 vehicles, our CBR ad model will generate an extra $150,000 per day or $54.75 million per year in addition to our basic taxi and tow transportation services increasing our total projected annual revenues to over $127 million," continued Mr. DeFeudis.
About Ringo, Inc.
Ringo, Inc. will provide a unique service for on-the-go consumers with immediate access to local transportation companies around the nation. By simply dialing (star)TAXI or (star)TOW on their mobile phones, consumers will be located and vehicles will be dispatched to their destination within seconds. (star)TAXI provides unprecedented safety and convenience for travelers unfamiliar with foreign locales, while (star)TOW increases safety with swift and immediate towing capabilities.
For more information about Ringo, Inc. go to www.ringome.com.
(star) refers to the telephone key denoted by the asterisk symbol. Ringo has filed to trademark (star) TAXI and (star) TOW with the United States Patent and Trademark Office.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Ringo Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by Ringo Inc. or any other person that the objective and plans of Ringo Inc. will be achieved.