Contact Information: Contact: NuMobile, Inc. Investor Relations 214-556-5927 ir@numobileinc.com
NuMobile, Inc. Anticipates Further Contracts in Southeast Asia on Overwhelming Feedback on Existing $1 Million Contract Signed Earlier This Year
| Source: NuMobile, Inc.
CARY, NC--(Marketwire - October 14, 2009) - NuMobile, Inc. (OTCBB : NUBL ) is conducting key
meetings in Shanghai this week in conjunction with the Company's overall
efforts to expand its smartphone and mobile computing software solutions in
the Chinese market. Earlier this year, NuMobile announced entering into a
three-year contract to provide mobile Internet services to business
travelers in Southeast Asia. During the scheduled meetings this week, the
Company met with its customer, and NuMobile is pleased to announce a highly
positive review of the contract to-date. NuMobile plans to continue
monitoring the progress of the project with the customer and explore
opportunities to expand both the scope of the project over the three year
contract term and overall business in the region. Per the original terms,
the three-year contract is anticipated to generate $250,000 in revenue for
NuMobile in the first year of the contract and approximately $1 million
over the life of the contract.
NuMobile is a smartphone and mobile computing software company growing
through a roll-up strategy to build a portfolio of mobile software
solutions. NuMobile has recently announced closing acquisitions of two
software companies with proprietary technology focused on mobile network
security. As a result of existing acquisitions, NuMobile anticipates
signing its first substantial contract before the end of 2009 for an
estimated $20 million and $8 million gross margin. Additionally, NuMobile
has announced an anticipated third acquisition involving a commercial
software application distributed across a mobile phone network. A letter of
intent is pending and anticipated shortly.
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About NuMobile, Inc. (www.numobileinc.com)
NuMobile is building a portfolio of security and software solutions for the
global mobile computing and smartphone market. Through a roll-up strategy,
NuMobile plans to acquire and develop mobile computing solutions for a
variety of applications, including mobile banking, for the global
marketplace. The demand for mobile security and software applications is
being driven in large part by the growing number of mobile phone sales into
emerging economies that currently do not have substantial access to the
Internet via desktop computing. Already in North America, the Company has
also forged a partnership in the Chinese market and is developing a plan
for the emerging economies of Latin America and East Africa. NuMobile is a
SEC fully-reporting public company listed on the Over-the-Counter Bulletin
Board.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause NuMobile's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.