NuMobile, Inc. Announces $20 Million Letter of Intent With Comprehensive Purchase Order Anticipated in April
CARY, NC--(Marketwire - February 16, 2010) - NuMobile, Inc. (OTCBB: NUBL) today announced a
letter of intent agreement for the Company to provide a turnkey proprietary
technology solution including equipment, software and related services. In
conjunction with the letter of intent, a purchase order for approximately
$20 million is anticipated in April 2010. All revenue associated with the
anticipated purchase order is expected to be recognized in 2010 and all
income is expected to be received within 2010. The execution of the
purchase order is subject to the successful completion and acceptance of a
proof of concept to be delivered by the end of this month. The client's
identity and the nature of the technology solution is confidential at the
client's request. Further specifics regarding the terms of the non-binding
letter of intent are also confidential at the client's request.
NuMobile Information and Email Newsletter
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please visit the corporate website at www.numobileinc.com.
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.
Contact Information: Contact:
NuMobile, Inc.
Investor Relations
214-556-5927