Peak Positioning Technologies Inc.

Peak Positioning Technologies Inc.

September 20, 2011 11:29 ET

Paying Clients Mark Start of New Era for Peak Positioning

MONTREAL, QUEBEC--(Marketwire - Sept. 20, 2011) - Peak Positioning Technologies Inc. (TSX VENTURE:PKK) ("the Company"), is pleased to announce that its wholly owned subsidiary, Peak Positioning Corporation ("Peak"), has received, as a result of an ongoing pilot program which began in late August 2011, its first revenues from the sale of its HomeWave application for smart-phones and tablets in China.

This first payment of series of monthly revenues to be paid to Peak by LongKey Software ("LongKey"), Peak's technology and distribution partner in China, came as a result of a successful pilot of version 2.5 of LongKey's suite of mobile applications for smart-phones and tablets, which incorporate the security functionalities of Peak's HomeWave solution. The pilot program involved students and faculty members of the Wuxi Professional College of Science and Technology using LongKey's applications on their mobile devices. The applications were included as part of wireless data plan bundles sold and distributed by China Telecom, with whom the school with an enrolment of approximately 12,000 students, has an exclusive agreement.

As part of Peak's partnership agreement with LongKey, Peak receives from LongKey an average of $0.45 USD per device per month, which represents a fix percentage of the revenues received by LongKey from its telecom service provider partners for the provision of its suite of mobile applications.

"So far, we are very pleased with the outcome of the version 2.5 pilot and we have received valuable feedback from its users and from our partners. It will eventually be expanded to include other types of users from different industries. This will allow us to fine-tune some of our applications before migrating to our new 3.0 framework. We intend to limit the number of new users on version 2.5 until we roll out our new 3.0 framework. We're working on a roll out plan with our telecom partners and expect to bring approximately 20,000 to 25,000 new and existing users per month to use applications supported by the new 3.0 framework once it's ready for deployment" said Albert Bao, LongKey's Chief Operating Officer.

"This day marks an important milestone for our company. After spending so much time and effort on research and development and now to finally enter a new era where HomeWave is brought to market with clients paying for the use of the applications is something that all of us here at Peak are very proud of" said Johnson Joseph, President and CEO of Peak. Mr. Joseph also went on to say: "Peak is fully committed to its partnership with LongKey and to ensuring that we deliver the new 3.0 framework as soon as possible. To express this commitment, we have agreed to setup a local research and development team in Wuxi, China to help accelerate the delivery of 3.0, and to ensure that we are well positioned to capitalize on future opportunities. We will continue to invest in China along with LongKey in order to fulfill our shared vision of jointly becoming the market leaders in the fields of business management and mobile security applications in China."

Peak and LongKey are currently working on a delivery timetable for their new 3.0 framework and hope to be able to announce a projected completion date shortly.

About Peak Positioning Technologies Inc.

Peak Positioning Technologies Inc. is a Tier 2 Technology Issuer whose common shares trade on the TSX Venture Exchange under the symbol: PKK ("Peak Tech"). Peak Tech owns 100% of the shares of Peak Positioning Corporation, which itself is an information technology solution provider, and creator of the HomeWave solution. HomeWave is a client-server-based, wireless remote security, forensic analysis and asset location service for mobile computing devices. The solution provides a way for businesses to use wireless communications to remotely disable and locate lost or stolen mobile computing devices, as well as to remotely determine what files, if any, were accessed on the missing devices.

About LongKey Software Technology Limited

LongKey Software Technology Ltd is a joint-venture company between the municipal government of the city of Wuxi, China and private investors. Fully utilizing the most advanced internet technology, LongKey provides a wide range of IT solutions such as web hosting, e-government, e-commerce, customer relationship management, enterprise resource planning, network management, and payroll processing through its "Online Business Application Marketplace". In addition to its web-based services, LongKey also provides its business clientele with application development and help desk outsourcing services.

Forward-Looking Statements / Information

This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. Forward- looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.

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Contact Information

  • Peak Positioning Technologies Inc.
    Johnson Joseph
    President and CEO
    514-340-7775 ext.: 501
    514-340-2228 (FAX)

    CHF Investor Relations
    Anne Robert
    Account Manager
    514-510-6338 or Cell: 514-826-8121