FORT WORTH, TX--(Marketwire - September 22, 2010) - NuMobile, Inc. (
Dear Shareholders and Interested Investors:
I joined NuMobile in March and skipped the honeymoon. NuMobile was a work in progress and had recently closed two acquisitions shortly before I came on board. I went straight to work on getting my arms around the proprietary technologies secured through the two acquisitions and the strategies to realize a return on investment from the development of the two companies' technologies. We have just recently completed an organizational restructuring and recapitalization to further advance the Company toward its smartphone and mobile computing industry objectives. My letter today is intended to communicate a brief overview of the highlights of the updated business plan behind the restructuring and recapitalization. Look for more detailed communications on specific aspects of the updated plan coming over the next several weeks.
Temporary Symbol Change From 'NUBL' to 'NUBLD'
NuMobile is a fully reporting company with audited financial statements. Many times a fifth letter designation is intended to indicate a corporate deficiency such as a delinquent financial report or a bankruptcy. Accordingly, we have received shareholder questions in response to the recent symbol change inquiring as to what might be wrong. Nothing is wrong. As part of the Company's restructuring and recapitalization plan to support a refreshed and updated business plan, NuMobile has affected a reverse stock split. The recently affected reverse split is memorialized by a temporary symbol change to 'NUBLD'. The 'D' is a temporary fifth letter indicating a recent reverse split. The symbol should revert to NUBL in approximately two weeks.
$20 Million Revenue Plan
We are gaining sales traction with the Company's recently acquired proprietary technology. The Company has previously discussed an opportunity to potentially achieve $20 million in revenue in 2010 as a result of a key customer opportunity that was already under development at the time one of the two companies was acquired. In fact, the acquisition agreement includes terms specifically addressing the key customer opportunity.
The key customer opportunity remains viable, but clearly it has not yet materialized. I have now had ample time to personally become involved in the key customer opportunity under development. The project's course is not unusual in regard to the challenges and delays that can be encountered when implementing an innovative new technology. We are currently making some course direction changes on the key customer opportunity based on the latest project progress. More information on approach changes to the key customer project will be forthcoming in the near future.
Achieving $20 million in annual revenue early on in the development of an early stage technology company is an aggressive goal. The opportunity for NuMobile to achieve $20 million in annual revenue early on in the Company's development of its smartphone and mobile computing strategy has been based on a key customer opportunity. I remain confident in NuMobile's potential to achieve $20 million in annual revenue early on. Just not as early on and not from a single source.
NuMobile's refreshed and updated business plan is solidifying an aggressive revenue growth objective of $20 million in annual revenue. The plan is now based on sales growth resulting from the integration of the Company's current and prospective proprietary technologies across numerous customer accounts instead of one key account. The $20 million annual revenue objective resulting from a diverse variety of customer accounts is moved from 2010 to 2011.
NuMobile has the potential to possibly realize significant sales growth that could dramatically exceed the $20 million annual revenue objective. For instance, NuMobile is involved in a $1.6 million pilot project in China that if successful could result in NuMobile being part of a $160 million contract. NuMobile also has a number of acquisition opportunities in its pipeline that could be a catalyst to explosive growth. We will continue to communicate these growth opportunities, but otherwise maintain a 2011 revenue objective based on current resources and progress.
South America, Africa, China and Southeast Asia
NuMobile's aggressive growth opportunities are enhanced by market access to sell the Company's proprietary technology solutions into high growth emerging economic regions. NuMobile is a participant in the NewMarket Greenfield Partnership Program. NewMarket Technology, Inc. (
Risk and Reward with Early Stage Over-the-Counter Investments
NuMobile is an early stage operation developing a portfolio of innovative technologies. All of us are very optimistic about the Company's prospects for success. However, industry statistics cast a shadow on our likelihood of success. We are an over-the-counter quoted public company. We have pursued a public venue to have access to investment to develop our business plan. I believe and want to communicate to you my belief that over-the-counter market investment strategies should differ from national exchange investment strategies. I subscribe to the milestone investing school of thought suggested by the founders of NewMarket Technology. In short, investment strategies should include a plan to achieve potential returns that can result from periodic price per share increases when an early stage over-the-counter company meets interim development milestones. I encourage you to visit NewMarket's website www.newmarkettechnology.com to learn more and Small Equity Initiative at smallequity.com. We want you to succeed with your investment objectives for NuMobile.
NuMobile Information and Email Newsletter
To learn more about NuMobile and to sign up for company email alerts, 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.