NEW YORK, Jan. 24, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – Nexus Energy Services, Inc. (OTCPINK: IBGR), an application development company, soon to be renamed Applicate, Inc. today announced that it has acquired the ownership of a real estate mobile application currently under development from Monkey Club Studios, LLC. The application has been in development for almost two years but has stalled due to financial considerations. Under the agreement, the partners of Monkey Club will receive an aggregate 9,800 shares of Preferred “D” stock once the development of the application has been completed and is commercially available.
Under the agreement, Nexus Energy will acquire the app “as is” and will continue its development by taking over the employment contracts of the developers from Monkey Club. An equity funding agreement is expected to be announced within the next couple of weeks to finance the development.
In accordance with this acquisition, Nexus Energy has applied for the trademark “Address” for its mobile app. Until appropriate copyright and patent applications have been filed, the company is not publicly discussing the functionality of the app but suffice to say that it will contain functionality that other real estate applications like Zillow™ do not offer and yet have been recognized as very desirable to the realtor community.
Nexus President and CEO, Ron Minsky, stated, “‘Address’ will be the first of several significant projects that Applicate will undertake over the next year. We believe that this mobile app will provide significant revenues within 6 months from its release, which is expected to be sometime this summer.”
In preparation for the corporate name change, Nexus Energy has registered the domain name ‘ApplicateInc.com’ and expects that it will be live within the next few weeks.
About Nexus Energy Services, Inc. (OTC: IBGR)
Nexus Energy Services, Inc. is an application development company which is in the process of changing its name to Applicate, Inc. and is currently developing a significant real estate application to service the realtor and residential and commercial buyer/seller markets.
Safe Harbor Statement
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