MINDEN, NV--(Marketwired - Jul 19, 2013) - Spare Backup, Inc. ("Spare Backup") (OTC Pink: SPBU), a provider of data backup and security software for smartphones, tablets and PCs, which is carrier and manufacturer agnostic, announced today that it has begun the launch of its prepaid offering of Spare Backup and Mobile Security Services at 10,000 mobile retailing locations in Turkey with its marketing partnership with LSG-AH Assistans Hizmetleri A.S., a mobile marketing company based in Turkey.
LSG-AH will progressively roll out the promotional pre-paid scratch card through a network of over 10,000 independent mobile retailers throughout the third quarter of 2013. Each retailer involved in the launch must purchase an initial stocking inventory of annual prepaid cards for which Spare Backup and LSG-AH will each immediately receive 50% of the up-front revenue less expenses as well as any additional revenue derived from future card purchases. Retailers will then resell the services to their mobile customers purchasing a new and pre-owned mobile phone package.
As previously stated by the company, the offering is anticipated to generate positive cash flow for Spare Backup. Both companies anticipate they will expand the offering in the near future to include additional retailers and by incorporating additional services designed to create a strong value proposition for the Turkish consumer.
Spare Backup anticipates that this launch will significantly improve near term cash flow, and that revenue derived from Turkey in the coming quarters will be more than sufficient to sustain operations. Spare Backup intends to use any excess cash flow to enable management to strengthen its balance sheet through the renegotiation of certain payables and debts outstanding as well as to support additional marketing launches in Europe, Asia Pacific, Middle East, and Russia.
Cery Perle, CEO of Spare Backup, Inc., stated, "We are excited to begin this launch in Turkey after months of hard work by our whole team. We believe Turkey represents a vast opportunity for us and we are working closely with our partners to support this initial sales push. As we move forward we intend to expand the services we offer to our retailers which include 'independent franchisees' of all major carriers in Turkey, to maximize our near term revenue and establish a long lasting highly profitable footprint in this country."
About Spare Backup, Inc.
Spare Backup, Inc. is a leading provider of data backup and security software for smartphones, tablets and PCs. Spare Backup's software enables consumers and small to medium sized businesses to easily protect valuable computer and mobile data quickly, automatically and cost-effectively. Spare Backup software intelligently selects, secures and stores personal and business content on a continuous basis or according to the schedule of the user's choice. It also allows for the integration of that content across various devices and provides enhanced security features to protect valuable data on any lost or stolen devices. Spare Backup software is the first totally automated cloud-based backup service that is distributed on a stand-alone or private label basis through major retail and warranty service partners.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.
Forward Looking Statements:
This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in Spare Backups filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Spare Backup, Inc. Ascendant Partners IR@spbu.com
