MacroSolve Inc. Plans Filing for Public Registration of Stock
TULSA, Okla., March 11, 2008 - MacroSolve Inc. has received approval from its shareholders to register shares for public trading through the filing of an S-1 Registration Statement with the Securities and Exchange Commission. Once the company is publicly traded, it intends to raise $5 to $10 million dollars in growth capital, enabling growth of the Tulsa-based company's workforce to over two hundred new technical and marketing positions. Acting as advisor to MacroSolve will be Regent Securities, LLC, based in New York City, an affiliate of Regent Private Capital, LLC, based in Tulsa, Oklahoma.
"We are seeing incredible demand for mobile technology across a wide spectrum of businesses and no slowdown in sight," said Clint Parr, President and CEO of MacroSolve. "Tulsa is a great place to grow a technology company and we intend to greatly expand while maintaining our headquarters here after taking the company public."
Once the company is public, MacroSolve will be able to attract funds that invest in a security called a PIPE, which stands for private investments in a public equity. "The PIPE market continues to be robust as $144 billion was placed in 2007, up from $88 billion in 2006. MacroSolve is the type of company with a great management team and well known customers in a high growth sector that PIPE investors find attractive," said Anurag Agural, Managing Director of Regent Securities, LLC.
MacroSolve has been enabling mobility since 1996 when it became the first business application developer for then startup company, Palm, Inc. Since then, the Company has specialized in designing, developing and supporting the hardware, software and wireless networks needed for businesses to streamline their operations. MacroSolve is also the leader in mobilizing third-party technologies and taking those products to market with the leading wireless industry hardware manufacturers and wireless carriers.
With offices in Dallas and Tulsa, the company employs a wide variety of professional software and integration engineers with certifications on leading-edge mobile and enterprise technology. Job growth is prominent in these areas while MacroSolve will also begin to expand its direct and channel sales organization along with an advanced Web marketing organization.
About MacroSolve
Through its wholly owned subsidiary, Anyware Mobile Solutions, MacroSolve, Inc. is the leading provider of mobile data and mobile video business solutions. With expansive wireless industry relationships, intellectual property and proven success in enabling mobility, MacroSolve pursues innovative strategies to help businesses gain bottom-line benefits and competitive advantage through mobility. MacroSolve also assists third party application companies in mobilizing their products and marketing them to businesses. For more information visit www.macrosolve.com or call 800-401-8740.
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Safe Harbor Statement Under the Private Securities Litigation Act of 1995
With the exception of historical information, the matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of MacroSolve could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations, inability to hire and retain qualified personnel, and changes in the general economic climate. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by MacroSolve, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.