SOURCE: CommerceTel Corporation

CommerceTel Corporation

June 06, 2012 10:14 ET

CommerceTel Announces Corporate Update; Projecting 2012 YoY Revenue Growth of At Least 60%

Management to Host Conference Call on Wednesday, June 13th at 11:30am ET

SAN DIEGO, CA--(Marketwire - Jun 6, 2012) - CommerceTel Corporation (OTCBB: MFON), an award-winning provider of proprietary mobile marketing technologies and solutions, today announced an update on corporate and strategic initiatives.

Business Development

CommerceTel activated several name brand local advertiser accounts in Q4 2011 and Q1 2012, respectively, to implement the Company's proprietary mobile marketing platform across their domestic store base. Through May 31, 2012, the Company has completed installations in more than 3,500 local advertiser locations. Two major Quick Serve Restaurant (QSR) customers have activated more than 2,000 locations across the U.S. and plan to pursue full deployment to their entire franchise base that could exceed 4,000 total locations.

The Company has also achieved several enterprise business wins including:

  • Texas Legends, an affiliate of the Dallas Mavericks.
  • Liberman Broadcasting on their Estrella TV station powering SMS and IVR capabilities for the productions of Tengo Talento and Mucho Talento, and Mi Sueno es Bailar.
  • The Trump Organization's Miss Universe Organization for Miss USA, Miss Teen, and Miss Universe productions during 2012.
  • Three year contract powering the United States Tennis Association's mobile marketing.

Intellectual Property (IP) Development

CommerceTel and its operating subsidiaries have two patents covering carrier identification and lookup across all forms of mobile communications, including SMS, MMS, and voice, as well as mobile authentication and identification verification across all types of mobile communications protocols. Given that its proprietary technologies are applicable to a wide range of applications and devices, the Company is actively exploring strategic options for monetizing the value of its IP, including licensing agreements, partnerships, and royalties.

Working Capital and Cash Flow

At the beginning of this month, the Company completed the issuance of its secured convertible note in the principal amount of approximately $4.3 million (including approximately $1.7 million in principal that was converted into the financing) accruing an annual interest rate of 10% due October 15, 2012. CommerceTel expects to deploy the proceeds from the financing into (1) adding new sales staff; (2) general working capital; (3) intellectual property and (4) corporate development opportunities, including mergers and acquisitions.

Guidance for 2012

Management forecasts full year 2012 revenues to be at least $4 million, representing an increase of at least 60% from 2011. Current guidance is based on organic growth and does not include acquisitions.

Conference Call & Presentation

The conference call and web based presentation will take place on Wednesday, June 13th at 11:30am ET. To access the call and presentation please follow these steps.

Step 1 : Access the Audio
Please dial into the number indicated below to listen to the audio portion of the presentation:

US Toll Free Dial-In: +1-877-941-1427
International Toll Dial-In: 1-480-629-9664
Conference ID: 4545020

Step 2 : Access the web based Presentation on your screen - available at: http://public.viavid.com/index.php?id=100688

If you are unable to attend, a replay of the call will be available until June 27th 2012 at:
Toll Free: + 1-877-870-5176
Toll: + 1-858-384-5517
Replay Passcode: 4545020

If you have any question, you may contact Mark Flather at MZ Group via email at mflather@mzgroup.us.

About CommerceTel

CommerceTel is an award-winning provider of proprietary mobile marketing technologies and the inventor of Mobivity, a unique, enterprise-grade platform empowering brands to engage mobile consumers via multiple channels. The only system of its kind, Mobivity is a cloud-based solution providing broad mobile communications and extensive CRM features. It is integrated with multiple tier-one PSTN/ IP carriers and micropayment processing facilities as well as with carrier premium SMS billing systems. Customers include CNN, Disney, Sony Pictures, AT&T, Verizon, USA Network, numerous professional sports franchises, the Golf Channel, and NBC Universal. For further information visit www.commercetel.com or follow us on Twitter @CommerceTelinc.

Cautionary Statement Regarding Forward-Looking Information

This press release may contain certain "forward-looking statements" relating to the business of CommerceTel Corporation, and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the impact of the proceeds from the private placement on the Company's short term business and operations, the general ability of the Company to achieve its commercial objectives, including the ability of the Company to sustain growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf months are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contact Information

  • For additional information, contact:

    Company Contact:
    CommerceTel Corp.
    Dennis Becker
    CEO
    www.commercetel.com
    Phone: 619.725.0990

    Investor Contacts:
    MZ North America
    Mark McPartland
    Email: Email Contact
    Tel: +1-212-301-7130
    Web: www.mzgroup.us