Vita Mobile Systems Chairman and CFO Wade Makes Private Investment in Company

Company in Final Steps to Complete Audit and Registration Statement on Form S-1 for OTCQB Uplisting 

IRVINE, CA, March 27, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Vita Mobile Systems, Inc. (OTC PINK: VMSI), a technology company specializing in big data via digital imaging on mobile devices, today announced it has finalized a private placement investment agreement between the Company and its Chairman and CFO Martin R. Wade, III. Under the private placement agreement, Mr. Wade has agreed to purchase 1,000,000 restricted shares at $0.02 per share, a price nearly double the current share price. 

Mr. Wade joined the Company in 2017 with more than 40 years of experience advising senior management and Boards of Directors on more than 200 acquisition, divestiture, and restructuring processes. Mr. Wade also serves as Interim Chief Executive Officer and Chairman of the Board of Payless ShoeSource, a $2 billion retailer with some 3,500 outlets.  In addition to his work with Vita Mobile Systems and Payless, Mr. Wade is a Partner in Residence at Catalyst Acquisition Group and serves on the boards of Media News Group d/b/a Digital First Media, the second largest media company in the U.S. serving over 60 million monthly readers, and Alliance One International, a NYSE listed company where he is a member of the Audit Committee and the Governance and Nominating Committee.

"After joining the Company over a year and a half ago and seeing its potential first hand, I am extremely excited about and confident in its future,” stated Mr. Wade. “Vita Mobile Systems built out a solid technology foundation last year, and we expect 2019 to be a landmark year.” 

Sean Guerrero, CEO of Vita Mobile Systems, added, “We are excited for the completion of our audit and the registration statement on Form S-1, both of which are wrapping up shortly and will allow us to apply for an uplisting to the OTCQB.  The accounting, audit and legal teams we retained have done an excellent job but the process took longer than we anticipated. We will have an update next week on expected completion of the audit and Registration Statement on Form S-1. The process is near completion now, and we have used this time wisely in expanding and refining some exciting Artificial Intelligence (AI) tools which will diversify our future revenue streams and strengthen our position as a company.  We look forward to sharing details and announcements of these products in subsequent press releases.”

To learn more about VITA please visit the Vita Mobile Systems website at

About Martin R. Wade, III

Mr. Wade has over 40 years of business experience. He is currently the Chairman and Interim CEO of Payless Shoe Sources, Inc., a $2 billion retailer with some 3,500 outlets. In addition, Mr. Wade serves on the boards of Alliance One International, Inc., the second largest tobacco merchant in the world; on the board of Digital First Media (the business name of Media News Group -- the second largest media company in the U.S. serving over 60 million monthly readers); NexMed, Inc.; and Energy Transfer Group LLC. Other past senior positions include Board Director at RDA Holdings Co. (Readers Digest Association), Chairman and CEO of Broadcaster, Inc. (formally a top 100 website similar to YouTube and a predecessor technology to Twitter's Periscope), President and CEO of Digital Creative Development Corporation, and Partner-in-Residence at Catalyst Acquisition Group, LLC. Mr. Wade has held senior level positions with Lehman Brothers, Salomon Smith Barney and Price Waterhouse. Mr. Wade is a proud U.S. Veteran and holds a B.S. in Business Administration from West Virginia University and an M.B.A. in Finance from the University of Wyoming. 

About Vita Mobile Systems, Inc. (

Vita Mobile Systems, Inc. (OTC PINK: VMSI) is a technology company focusing on digital imaging in mobile devices, collection of big data and development of artificial intelligence. Vita Mobile Systems is currently finalizing their first geolocation-based, social media app "VITA" for release on both iOS and Android.  Comprised of a strong foundation of successful entrepreneurs, Vita Mobile Systems has developed proprietary algorithms and tools which gather, categorize, analyze and augment digital content. Over the years, Vita Mobile Systems has used these proprietary marketing, social media, and data collection tools to generate significant amounts of internet traffic for advertising networks. Vita Mobile Systems aims to create a monumental library of crowdsourced content, a massive catalogue of predictive big data, and platform for ultra-targeted advertising. The company expects to establish a strong foundation within the multibillion-dollar industry of driving big data and targeted advertising through its process of cataloging, meta-tagging, analyzing, and predicting trends of everyday people in everyday life.

Cautionary Language Concerning Forward-Looking Statements:

This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by VITA. The public filings, if any, of Vita Mobile Systems, Inc. (OTC Pink: VMSI) may be accessed at Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. VITA cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, VITA does not undertake, and VITA specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.


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