FOUNTAIN VALLEY, Calif., Nov. 19, 2012 (GLOBE NEWSWIRE) -- MEDL Mobile, Inc.(OTCBB:MEDL) – a pioneer in the creation, development, marketing and monetization of mobile apps – announced that it has signed a Letter of Intent with MacroSolve, Inc., (OTCQB:MCVE), a leading provider of mobile technology intellectual property.
As the mobile ecosystem evolves, the threat of litigation from holders of patented technologies is quickly surfacing as a major danger to small and mid-sized developers who are not equipped to navigate the complexities of this new terrain. MEDL Mobile is crafting an agreement with MacroSolve, the holder of a key mobile technology patent with far-reaching implications, to create a program that provides a simple and affordable solution for app developers.
"MEDL's goal is to provide an ever increasing library of tools and services to our growing Developer Network with our proprietary SDK," said Andrew Maltin, MEDL Mobile CEO. "This new relationship will allow MEDL to offer an entirely new tier of services - one that was previously out of reach for most small and mid-sized developers."
The patent addresses mobile information collection systems across all wireless networks, smart phones, tablets, and rugged mobile devices, regardless of carrier and manufacturer. MacroSolve's patent covers fundamental technology in the mobile application space utilized by multiple companies.
MacroSolve Chairman and CEO Jim McGill states, "MEDL is the first visionary partner to provide the benefits of the '816' patent to thousands of app developers. Our joint business model is designed to be scalable, profitable and simple to implement, for the advantage of both companies."
On October 26, 2010, the United States Patent and Trademark Office issued U.S. Patent No. 7,822,816 to MacroSolve. The patent, a significant intellectual property asset to MacroSolve, further advances its position as a leader in the mobile solutions market.
About MEDL Mobile
The Company develops, acquires and publishes a growing library of mobile applications which perform specific functions for the user on the Apple and Android platforms. The Company licenses its technology and performs custom development for key clients such as Monster.com, New York Times Company, Teleflora, Telefonica and Medtronic, allowing the company to grow the overall library of technology greatly extending the potential reach of the Mobile Brain. The Company enters into partnerships to mobilize and monetize IP with such notable names as Encyclopedia Britannica, MTV's Pauly D, Cheech & Chong, Rampage Jackson and Marlee Matlin. The Company is establishing a business model in which it expects to generate multiple revenue streams, including development fees, download and in-app purchases, advertising, sponsorship and licensing of technology. User analytics are collected by the Company's growing Mobile Brain which processes user data in order to create better distribution and monetization of mobile applications. The Company's Software Development Kit (SDK) consists of a growing suite of tools which have been designed to help developers to better market and monetize their mobile applications. For more information about MEDL Mobile, please visit www.medlmobile.com.
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About MacroSolve
Founded in 1997, MacroSolve is heralded for its robust IP portfolio, while advancing throughout the mobile apps era by innovating key technologies that have laid the foundation for apps and next-gen developers. Today, MacroSolve is empowering a new era of mobile innovators seeking advisory services and IP strength from a source of experience.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about MEDL Mobile's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Potential risks and uncertainties include but are not limited to the ability to integrate Inedible Software apps and platform into MEDL's product offering, the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
For more information about MEDL Mobile, please visit http://www.medlmobile.com.