MCVE News .075

MacroSolve Issues Letter to Shareholders

2012-05-17 10:05 ET - News Release

TULSA, OK -- (Marketwire) -- 05/17/12

MacroSolve, Inc., doing business as Illume Mobile (PINKSHEETS: MCVE) (OTCQB: MCVE) ("MacroSolve," "Illume Mobile" or the "Company"), a leading provider of mobile technologies, apps, and solutions for business, today announced it has issued a Letter to Shareholders.

Shareholders and prospective investors may view the letter in full on the Investors Page at www.illumemobile.com/investors/ .

The letter provides updates on significant developments at the Company including:

• Revenues increased 635% to $853,000 from $116,000 in the same period of fiscal year 2011.


• $255,000 backlog expected to be completed in Q2 for custom mobile app solution services.


• Gross profit increased 622% to $498,000 from $69,000 in Q1 of fiscal year 2011.


• Use of cash decreased 25% to $370,000 from $496,000 in Q4 of the fiscal year 2011.


• Direct sales presence has expanded to New York City, Atlanta, Dallas, and Houston to address the increasing demand for our mobile applications.


• Signed several new strategic distribution agreements, including RockSauce Studios, Source Data Corporation, Tabbedout and Industry Analyst, Inc.


• Continued positive results from our relationship with Click Here, the digital division of The Richards Group, the largest independent branding agency in the nation.


• Positive coverage in nationally known media, including The Boston Globe, Fox Business, Mobile Marketer, and The Daily Caller.


• Have filed patent claims against more than 60 defendants to date.