Contact Information: Contact: NuMobile, Inc. Investor Relations 214-556-5927 ir@numobileinc.com
NuMobile, Inc. Announces Increased Target PPS of $0.25 Following Acquisition of Enhance Network Communication, Inc. With Anticipated $20 Million Contract
Company Posts Exclusive Webcast Discussing Acquisition and New Fair Value Target PPS
| Source: NuMobile, Inc.
CARY, NC--(Marketwire - September 18, 2009) - Yesterday, NuMobile, Inc. (OTCBB : NUBL ) announced
executing an agreement acquiring Enhance Network Communication, Inc.
Today, NuMobile released an on-demand Webcast reviewing the acquisition and
a potential contract that would result in approximately $20 million in
revenue with $8 million in gross margin. The Webcast further discusses the
new fair value target price per share of $0.25. A link to the Webcast is
available on the Company's corporate website www.numobileinc.com on the
homepage and investor relations page titled 'NuMobile Enhance Network
Communication Acquisition and $0.25 Target PPS Webcast'.
NuMobile has acquired Enhance in exchange for $5 million in debt. The debt
is payable in two parts, with $1 million due one year from closing. The
remaining $4 million is due five years from closing and contingent upon
Enhance signing $20 million worth 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.
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 Enhance Network Communication, Inc. (www.enetcom.net)
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.
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 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.