|By Marketwired .||
|November 15, 2012 10:37 AM EST||
MONTREAL, QUEBEC -- (Marketwire) -- 11/15/12 -- Peak Positioning Technologies Inc. ("Peak") (TSX VENTURE:PKK) and its Chinese partner, LongKey-Hong Kong Limited ("LongKey") today announced a December launch for the AiNi(TM) mobile cloud platform on China Unicom smart devices. The planned launch follows the signing of a Master Agreement between LongKey and China Unicom subsidiary, UNISK, for the promotion and distribution of the AiNi(TM) Mobile Cloud Platform to China Unicom customers, which Peak announced on July 22, 2012. The signing of the agreement led to more than two months of internal testing during which China Unicom identified important improvements aimed at making AiNi(TM) more attractive to Chinese consumers. With the improvements now completed, the first AiNi(TM) enabled smart devices will ship out to China Unicom customers in Guangdong province in December.
Most of the improvements are related to the AiNi(TM) social networking facilitation feature and enhancement of the overall user experience. "We received specific requirements from China Unicom, particularly on the social networking functionalities of the platform," said Peak CTO, Varujan Tasci. "AiNi(TM) users will now be able to create 'Circles of Friends' whereby members of the group can easily and instantly share information with the entire Circle. This is just one example of several neat features we have added" he said. "Our development teams at Peak and LongKey worked efficiently and I think we've done an excellent job, coming up with a product that we can all be proud of," Mr. Tasci concluded.
In light of the launch-date delay associated with the China Unicom improvements, Peak and LongKey met with China Unicom executives in early November to review the AiNi(TM) pilot deployment plans. At that meeting, the December launch date was set and it was also decided that it would be prudent to scale back the number of initial subscribers taking part in the pilot project. Consequently, Peak has updated royalty projections made at the Company's 2012 Annual General Meeting. At that time, it was expected that the AiNi(TM) launch would take place in the third quarter of 2012 and the Company would generate a royalty stream of $500,000 to $800,000 by the end of the 2012 calendar year. With the AiNi(TM) launch now taking place in December coupled with the expected reduction in the number of initial pilot subscribers, the projected 2012 royalty stream is now expected to be between $200,000 and $300,000.
"The next few months are very important for us," said Johnson Joseph, President and CEO of Peak. "All of the parties involved in developing and fine-tuning AiNi(TM) are very excited and optimistic about the launch. We're quite confident that the customer response in Guangdong province will confirm that we've done our homework well and come up with a mix of features and an overall user experience that will have strong appeal to the Chinese mobile consumer," Mr. Joseph went on to say.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. (TSX VENTURE:PKK), is a Canadian software developer for smartphones and other mobile computing devices, conducting business primarily in China and North America. In association with its partner, LongKey-Hong Kong Ltd, the company has developed a suite of applications for mobile devices that includes: cloud-based calendar, e-mail and contacts synchronization, automated device configuration, and HomeWave(TM) mobility security. While LongKey markets the applications in China through its partnerships with major Chinese telecommunication companies and banks, Peak plans to similarly market the applications for its own account in North America. For more information: http://www.peakpositioning.com.
About LongKey-Hong Kong Ltd.:
LongKey Hong Kong Ltd., through its subsidiary LongKey Software Technology Ltd., provides a wide range of IT solutions, and cloud-based business management and mobile applications based on its proprietary Unified Information Services Platform (UISP). LongKey's applications are distributed to end-users in China by some of China's largest telecom and banking entities. For more information: http://www.longkeysoft.com.
Forward-Looking Statements / Information
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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