COMSovereign Holding (COMS) 8-K MacroSolve Announces FY 2011 Third Quarter Results

Exhibit 99.1

MacroSolve Announces FY 2011 Third Quarter Results

·       371% Revenue Increase Over Prior Year; Quarter-Over-Quarter Increase of 170%

·       Three Consecutive Quarters of Growth Driven by Mobile App Technologies

Okla., November 10, 2011 – For the third consecutive quarter, MacroSolve, Inc. (OTCPK:MCVE) (OTCQB:MCVE) (“MacroSolve” or the “Company”), a leading provider of mobile technologies, apps and solutions for business, announced a significant increase in revenues driven by its patented mobile app technologies. Net sales for the quarter of ended September 30, 2011, rose to $593,000, a $467,000 or 371% increase over net sales of $126,000 for the same period in 2010. This increase was driven by sales of the Company’s software products and licensing, and solution services. On a quarter-over-quarter basis, MacroSolve’s revenues grew by 170% from $219,000 in the three months ended June 30, 2011.

Sales of the Company’s mobile app solutions consisted of custom mobile app development, revenues from software product sales and licensing, as well as recurring revenue from MacroSolve’s ReForm XT™ and Insight™ line of mobile apps.

“This has been a pivotal quarter for MacroSolve. We’ve solidified the shift in our sources of revenue from legacy services and hardware to an emphasis on our patented mobile app platforms. These are higher margin, recurring revenue sources. We have the technology, and the development and management talent to dominate in the mobile app industry,” stated MacroSolve President and CEO, Steve Signoff. “These third quarter revenues do not yet reflect the significant and strategic business development agreements we’ve put in place in Q2 and Q3 with Donald Trump Jr. and The Richards Group, both of which we expect will yield us major national accounts and sales that will create a very positive impact in future quarterly revenues.”

For the nine month period ended September 30, 2011, net sales increased to $929,000, by $396,000 or 74%, from $533,000 in the same period of 2010. The 74% increase in revenues was derived primarily from the Company’s software products sales and licensing activities.

The Company more than offset a decline in revenues from legacy services and the absence of hardware sales, which the Company discontinued in 2010 due to low margins. These revenue declines were offset by an increase in software product sales and licensing. MacroSolve’s operational focus is on growing higher margin sales and building execution capability and capacity.

Loss from operations for the third quarter of 2011 was $(535,000), an increase of $119,000, or 29%, from loss from operations in the same period of 2010 of $(416,000). Similarly, loss from operations for the first nine months of 2011 was $(1,676,000), an increase of $490,000 or 41%, from loss from operations in the same period of 2010 of $(1,186,000). In the first three quarters of 2011, the Company invested in hiring product development and business development staff. MacroSolve also invested in financial advisory and investor relations services which were non-cash charges. These staff additions and services support the Company’s continued quarter-over-quarter growth.

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Net loss of $(615,000) for the third quarter of 2011 was $99,000, which was 19% greater than the net loss of $(516,000) for the same period in 2010. Net loss of $(1,845,000) for the first nine months of 2011 was $421,000, which was 30% higher than the net loss of $(1,424,000) for the same period in 2010.

For further information please see MacroSolve’s full 10-Q filing at www.sec.gov.

About MacroSolve

MacroSolve, Inc. is a pioneer in delivering mobile apps, technologies, and solutions to businesses and government. Founded in 1997, the Company has an extensive network including the top name brands in wireless hardware and software as well as wireless carriers. Leveraging its intellectual property portfolio, MacroSolve is positioned to become a leader in the mobile app space, an industry which is projected to become a $17.5 billion market by 2012 according to Chetan Sharma Consulting (http://www.chetansharma.com/mobileappseconomy.htm). For more information, visit MacroSolve (http://www.macrosolve.com) or call 800-401-8740.

Safe Harbor Statement

This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.

Company Contact

info@macrosolve.com

Investor Contact

Laurel Moody

(646) 810-0608

lmoody@corporateprofile.com

Media Contacts

Diane White

(918) 770-3905

diane@dianewhitepr.com

Heather Carver

(918) 779-5771

heather@dianewhitepr.com

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MACROSOLVE, INC.
BALANCE SHEETS
	(unaudited)			(audited)
	9/30/2011			12/31/2010
ASSETS
CURRENT ASSETS:
Cash	$	395,961		$	187,025
Accounts receivable - trade		118,361			31,535
Prepaid expenses and other		271,231			50,324
Total current assets		785,553			268,884
PROPERTY AND EQUIPMENT, at cost:		277,844			254,088
Less - accumulated depreciation and amortization		(178,881	)		(162,194	)
Net property and equipment		98,963			91,894
OTHER ASSETS:
Note receivable		135,577			135,577
Software development costs, net of accumulated amortization
of $566,622 and $398,715 as of September 30, 2011 and
December 31, 2010, respectively		1,208,854			938,942
Other assets		73,926			43,999
Total other assets		1,418,357			1,118,518
TOTAL ASSETS	$	2,302,873		$	1,479,296
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current maturities of long-term debt	$	-		$	34,176
Revolving Line of Credit		200,000			-
Note Payable - Shareholder		105,178			-
Accounts payable - trade and accrued liabilities		449,124			123,022
Unearned income		34,808			8,523
Total current liabilities		789,110			165,721
LONG-TERM DEBT, less current maturities
Oklahoma Technology Commercialization Center		237,500			237,500
Convertible secured debentures		2,175,000			925,000
Total long-term debt, less current maturities		2,412,500			1,162,500
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock, $.01 par value; authorized 200,000,000 shares;
issued and outstanding 112,518,423 and 98,690,490 shares, at
September 30, 2011 and December 31, 2010, respectively		1,125,184			986,905
Additional paid-in capital		9,960,642			9,303,920
Accumulated deficit		(11,984,563	)		(10,139,750	)
Total stockholders' (deficit) equity		(898,737	)		151,075
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,302,873		$	1,479,296

The accompanying notes are an integral part of these statements.

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MACROSOLVE, INC.
STATEMENTS OF OPERATIONS (unaudited)	Unaudited						Unaudited
	For the Quarters Ended						For the Nine Months Ended
For the Periods Ended September 30,	9/30/2011			9/30/2010			9/30/2011			9/30/2010
SALES:
Software products and licensing	$	446,707		$	11,519		$	519,267		$	51,593
Solution services		146,536			114,445			409,407			403,594
Hardware sales		-			-			-			78,036
Net sales		593,243			125,964			928,674			533,223
COST OF SALES:
Software products and licensing		175,358			-			175,358			-
Solution services		138,276			50,447			283,690			219,279
Hardware sales		-			-			-			65,062
Total cost of sales		313,634			50,447			459,048			284,341
Gross profit		279,609			75,517			469,626			248,882
OPERATING EXPENSES:
Solution services		88,499			43,077			266,948			100,786
Depreciation and amortization		62,519			82,964			186,246			189,454
Marketing and sales		207,983			136,142			420,518			391,866
General and administrative		455,909			229,455			1,271,701			752,634
Total operating expenses		814,910			491,638			2,145,413			1,434,740
Loss from operations		(535,301	)		(416,121	)		(1,675,787	)		(1,185,858	)
OTHER INCOME (EXPENSE):
Interest income		18			7			104			494
Interest expense		(57,664	)		(53,861	)		(94,609	)		(133,299	)
Loss on sale of asset		-			-			(235	)		(17,944	)
Stock based compensation		(21,747	)		(45,711	)		(74,285	)		(87,326	)
Total other expense		(79,393	)		(99,565	)		(169,025	)		(238,075	)
LOSS BEFORE INCOME TAXES		(614,694	)		(515,686	)		(1,844,812	)		(1,423,933	)
INCOME TAXES		-			-			-			-
NET LOSS	$	(614,694	)	$	(515,686	)	$	(1,844,812	)	$	(1,423,933	)
LOSS ALLOCABLE TO COMMON STOCKHOLDERS:
Net loss	$	(614,694	)	$	(515,686	)	$	(1,844,812	)	$	(1,423,933	)
Loss allocable to common stockholders	$	(614,694	)	$	(515,686	)	$	(1,844,812	)	$	(1,423,933	)
Basic and diluted loss per share	$	(0.01	)	$	(0.01	)	$	(0.02	)	$	(0.02	)

The accompanying notes are an integral part of these statements.

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