SOURCE: NuMobile, Inc.

September 17, 2009 14:47 ET

NuMobile, Inc. Acquires Silicon Valley Headquartered Enhance Network Communication, Inc. With Anticipated Contract for $20 Million in Revenue and $8 Million Gross Margin

CARY, NC--(Marketwire - September 17, 2009) - NuMobile, Inc. (OTCBB: NUBL) today announced executing an agreement acquiring Enhance Network Communication, Inc. NuMobile is building a portfolio of security and software solutions for the mobile computing and smartphone market.

Enhance is headquartered in Cupertino, California and currently reports approximately $1.2 million in profitable annual revenue. Enhance has developed a proprietary large enterprise network security technology designed for managing the unique information management requirements of network delivered government services. School districts make up the majority of Enhance's current customer base. Early product testing is currently underway with a new prospective client. In conjunction with the current product testing, a contract that would result in approximately $20 million in revenue with $8 million in gross margin is anticipated as early as year-end.

NuMobile has acquired Enhance in exchange for $5 million in debt. The debt is payable in two parts. $1 million is due one year from closing. The remaining $4 million is due five years from closing and contingent upon Enhance signing $20 million of new business with $8 million in gross margin. Management anticipates that the debt exchanged for the purchase can be serviced out of cash flow from operations.

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