MacroSolve Enters Deal With MEDL to Monetize Mobile Patent
November 19, 2012 - Tulsa, OK
MacroSolve, Inc., (OTCQB: MCVE) ("MacroSolve" or the "Company"), a leading provider of mobile technology intellectual property, announces it has executed a Letter of Intent with MEDL Mobile, Inc. (OTCBB: MEDL), a pioneer in the creation, development, marketing and monetization of mobile apps. Once finalized, the agreement will address the needs of the largest market of mobile application developers, small to mid-sized companies, who previously could not afford patent protection.
Chairman and CEO Jim McGill states, "In accordance with our new strategy to empower mobile innovators with I.P. strength, MEDL is the first visionary partner to provide app marketing services and the benefits of the '816' patent to thousands of app developers. Our joint business model is designed to be scalable, profitable and simple to implement, for the advantage of both companies, while the developer's variable expense is measured in pennies, versus thousands of dollars."
The patent addresses mobile information collection systems across all wireless networks, smartphones, tablets, and rugged mobile devices, regardless of carrier and manufacturer. MacroSolve's patent covers fundamental technology in the mobile application space utilized by multiple companies.
"MEDL's goal is to provide an ever increasing library of tools and services to our growing Developer Network through our robust SDK," said Andrew Maltin, MEDL Mobile CEO. "This new relationship will allow MEDL to offer an entirely new tier of services -- one that was previously out of reach for most small and mid-sized developers."
On October 26, 2010, the United States Patent and Trademark Office issued U.S. Patent No. 7,822,816 to MacroSolve. The patent, a significant intellectual property asset to MacroSolve, further advances its position as a leader in the mobile solutions market.
Founded in 1997, MacroSolve is heralded for its robust IP portfolio, while advancing throughout the mobile apps era by innovating key technologies that have laid the foundation for apps and next-gen developers. Today, MacroSolve is empowering a new era of mobile innovators seeking advisory services and IP strength from a source of experience.
About MEDL Mobile
The Company develops, acquires and publishes a growing library of mobile applications which perform specific functions for the user on the Apple and Android platforms. The Company licenses its technology and performs custom development for key clients such as Monster.com, New York Times Company, Teleflora, Telefonica and Medtronic, allowing the company to grow the overall library of technology greatly extending the potential reach of the Mobile Brain. The Company enters into partnerships to mobilize and monetize IP with such notable names as Encyclopedia Britannica, MTV's Pauly D, Cheech & Chong, Rampage Jackson and Marlee Matlin. The Company is establishing a business model in which it expects to generate multiple revenue streams, including development fees, download and in-app purchases, advertising, sponsorship and licensing of technology. User analytics are collected by the Company's growing Mobile Brain which processes user data in order to create better distribution and monetization of mobile applications. The Company's Software Development Kit (SDK) consists of a growing suite of tools which have been designed to help developers to better market and monetize their mobile applications. For more information about MEDL Mobile, please visit www.medlmobile.com.
Safe Harbor Statement
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.