News out ( INAR ), reported that its subsidiary, Noobis, Inc.'s economies of scale have led to a 25 percent increase in sales with a stronger-than-expected sales margin, the result of expansion that began with the opening of a development office in Dhaka, Bangladesh in conjunction with establishing new sales channels through key partnerships.
Continuing to build upon its strong social media technical skills and presence, Noobis has significant new applications nearing completion. A new suite of offerings are being readied for imminent release to spearhead the second half of 2012 sales push, including the Company's first iOS App. This photo app for iPhones and iPads currently in Alpha testing, will be introduced early next quarter and will encourage sharing via social media and phone contacts. The app is designed to generate revenue through vendor sponsorship and mobile ads.
InternetArray, in conjunction with Noobis, has developed StockPlay.com, a new financial social media-based network forum for investors focused on companies trading on the OTC Markets. StockPlay has been in testing mode and the new live site is expected to be available to the public in the coming weeks.
Other significant new product and business platforms are nearing completion and will be released in the near future.
Business Affairs.
In April, 2012, InternetArray announced that it was planning the spin-off of two subsidiaries for the benefit of its shareholders into independent public companies. BidSell Buy, Inc., and Premier Gold Traders, Inc. are contemplated to be fully-reporting companies listed on the Over-the-Counter Bulletin Board ("OTCBB"). Preparations for completing both spin-off registrations are underway.
InternetArray, Inc. received notice that the Depositary Trust Company ("DTC") deposit chill on its common stock may be appealed by the Company. Therefore, an appeal filing is underway.
This press release may contain certain statements that are not descriptions of historical information, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These forward-looking statements refer to matters that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.
