SOURCE: DeFi Global, Inc.

DeFi Global, Inc.

October 18, 2010 16:58 ET

DeFi Global Announces Six Month Revenues Up 217% Year-Over-Year

SCOTTSDALE, AZ--(Marketwire - October 18, 2010) - DeFi Global, Inc. (PINKSHEETS: LCHL) announced today that it has begun generating revenues from the licensing of its smart phone mobile software and navigational application that was launched earlier this year on board the world's largest cruise ship. DeFi Global reported revenues increased by 217% for the six months ended June 30, 2010 compared to the same period of 2009, marking the Company's transition from development to commercialization phase.

Revenues in 2009 were from custom mobile software development and the beta testing of the Company's mobile communications platform and services. Additional revenues in 2010 were from the licensing its mobile software solution on Apple iPhones as part of a three-year development and licensing agreement with its business customer. "Our revolutionary technology aims to achieve a higher level of customer intimacy and guest satisfaction, and create a platform for new sources of revenues for our enterprise customers," said Jeff Rice, CEO of DeFi Global, Inc. "Our results in the first six months of 2010 represent only partial sales from our long-term licensing agreement. We expect to continue to ramp up revenues throughout 2011."

Using DeFi Global mobile software solutions, venue owners and operators have the ability to customize and brand Internet access devices, including smart phones, laptops, set-top-boxes, IPTV and many emerging protocols and devices to provide location-based navigation, tracking of people and devices, chat, voice calling, real-time information, concierge services, marketing tools and other services that improve and enhance the overall customer experience, and potentially generate new sources of revenue. DeFi Global's patent pending technology supports multiple mobile platforms providing services to many verticals including gaming, location based navigation, location based services, advertising and transactions for venue operators, the hospitality industry, Carriers, OEMs and Enterprise businesses. 

About DeFi Global, Inc.

Founded in 2006, DeFi Global is a technology company and a global network service provider that develops and delivers a wide variety of services, applications, products and solutions for business customers. Headquartered in Scottsdale, AZ, DeFi Global leverages the carrier-grade architecture of its private IP network, and a suite of proprietary software applications in a hosted environment to deliver end-to-end communications solutions to carriers, mobile operators, cable operators, ISPs and large enterprise businesses. For more information, visit www.defiglobal.com.

This Press Release contains "forward-looking statements" that are based on current management's expectations. Statements that are not historical facts are identified as "forward-looking statements." The words "estimate," "project," "intend," "expect," "believe," "plan," and similar expressions, particularly when used in the "future tense," are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. These forward-looking statements are necessarily estimates, reflecting the best judgment of senior management that rely on a number of assumptions concerning future events, many of which are outside of the Company's control, and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements.

These uncertainties, among others, include the success of the Company in obtaining sufficient equity and debt capital on commercially reasonable terms to carry out its business plan, whether its services will find acceptance in the market place and generate significant sales and profits, the status of US and World economies, and various other factors. No assurance can be given that any of the assumptions relating to the forward-looking statements specified in the following information are accurate, and we assume no obligation to update any such forward-looking statements. You should not unduly rely on these forward-looking statements, which speak only as of the date of this Press Release. Except as required by law, we are not obligated to release publicly any revisions to these forward-looking statements to reflect events or circumstances occurring after the date of this Press Release or to reflect the occurrence of unanticipated events.

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