Mobile Integrated Systems Enters Into a Perpetual Worldwide License and
Commercialization Agreement with Quantitative Alpha Trading
TORONTO, August 17, 2012 /PRNewswire/ ‐‐ Mobile Integrated Systems, Inc. (OTC:
MIBI) is pleased to announce that it has entered into a perpetual worldwide
licensing and commercialization agreement (the “Agreement”) with Quantitative
Alpha Trading, Inc. (CNSX: QAT) to develop QAT software and market all of QAT’s
products.
“Following the signature of the binding term sheet on July 27th, 2012, the
companies moved to deepen ties. The Agreement enables us to begin
commercialization of the products much sooner and prior to the closing of the
acquisition anticipated to be later this year”, said Murray Simser, President and
Chief Executive Officer of Mobile Integrated Systems. He added, “revenue is the
most important goal of the Agreement and we intend to deliver it.”
“We are delighted to be entering into the Agreement with Mobile Integrated
Systems” said James McGovern, Chief Executive Officer of Quantitative Alpha
Trading.” He added, “it is structured to ensure that commercialization of our
products and the generation of revenue is the company’s number one priority and
not derailed by acquisition activities. This is a great deal for QAT allowing us to get
to revenue much sooner by keeping commercial focus.”
Under the terms of the Agreement, QAT grants to MOBI a perpetual, non‐exclusive,
fully‐transferable, sublicenseable, irrevocable, royalty‐free and worldwide license to
use, modify, market, distribute, offer for sale, promote and otherwise fully exploit
QAT products. The licensed rights include the right to reverse engineer, decompile
and disassemble the software; and the right to modify, adapt and otherwise create
derivative works based upon the software.
In consideration of the license, the parties agree to share equally in the net income
of any and all commercialization undertaken within the framework of the
Agreement.
It is anticipated that upon the closing of the Transaction that the Agreement will be
terminated. In the event the Transaction does not close for any reason, the
Commercialization Agreement will survive and form the foundation of the on‐going
relationship between QAT and MOBI.
About Quantitative Alpha Trading, Inc.
For more than a decade, QAT, an Ontario corporation, has been researching,
developing and maintaining proprietary algorithmic securities trading systems that
operate across numerous financial markets. Relying on behavioural science
patterns, the Company’s proprietary systems use a linked series of computer
programs to analyze securities market data in real‐time and directly execute buy or
sell orders over the electronic securities exchanges while monitoring the status of
every trade within a given portfolio without human intervention. The Company
trades on CNSX under the symbol QAT and in the United States on the OTCQB under
the symbol QATSF.http://www.qatinc.com/
About Mobile Integrated Systems, Inc.
MOBI, a Nevada corporation, is a technology company focused on developing and
deploying mobile products and transaction systems to a variety of industry sectors
including lotteries, gaming, transportation, telecommunications, finance, and
others. The company trades on the OTCUS under the symbol MIBI. More
information can be found at:http://mobileintegratedsystems.com/
Press Contacts
Please contact Mobile Integrated Systems marketing team at 416‐479‐0880.
Please contact Quantitative Alpha Trading marketing team at 416‐646‐1063.
Forward‐Looking Statements
This press release contains "forward‐looking statements" as defined in the U.S.
Private Securities Litigation Reform Act of 1995 and Canadian Securities Legislation.
These statements are based upon our current expectations and speak only as of the
date hereof. Such forward‐looking statements are inherently uncertain. Our actual
results may vary materially from those expressed in any forward‐looking
statements as a result of various factors and uncertainties. Neither MOBI nor QAT
can provide assurances that any prospective matters described in the press release
will be successfully completed or that MOBI or QAT will realize the anticipated
benefits of any transactions, specifically including whether Transaction will close as
described herein, otherwise or at all and whether any revenue will be generated
under the terms of the Commercialization Agreement.
Various risk factors that may affect MOBI business, results of operations and
financial condition are detailed from time to time in the Annual Report on Form 10‐
K and in the Current Reports on Form 8‐K and other filings made by Mobile
Integrated Systems, Inc. with the U.S. Securities & Exchange Commission. MOBI
undertakes no obligation to update information contained in this release.
Neither CNSX nor any other exchange has reviewed or accepts responsibility for the
adequacy or accuracy of the content of this news release.
A copy of the Commercialization Agreement will be filed and available on QAT’s
SEDAR profile atwww.sedar.com.
