Spindle Completes Purchase of Help Worldwide Loyalty Program Operator License
Companies to Jointly Market Co-Branded Yowza!! Points Loyalty Program Solution to Over 30 Million Consumers
SCOTTSDALE, AZ -- (Marketwired) -- 06/11/15 -- Spindle, Inc. (OTCQB: SPDL), a leading provider of unified commerce solutions, today announced that it successfully completed the purchase of the Loyalty Program Operator License from Help Worldwide Inc., a global consumer and business network.
The companies will jointly market a co-branded Yowza!! points program for all Yowza!! consumer app users and Yowza!! merchants that leverage its Point-of-Sale (POS) solution to over 30 million consumers with the power of Help Worldwide's network.
Spindle will fund the integration and marketing effort with proceeds realized from the profitable sale of its legacy residual stream acquired in December of 2012. The asset sale resulted in a non-dilutive financing, with the company receiving approximately $678,000 in gross proceeds.
"We believe our partnership with Help Worldwide resulting in the delivery of a co-branded shopping app represents a potentially transformational opportunity for Yowza!! consumers and merchants. With the recent release of the enhanced Yowza!! platform, expanded content, and the potential to reach 30 million consumers, Yowza!! will be one of the most comprehensive shopping solutions in the market," said Bill Clark, chief executive officer of Spindle. "In addition and importantly, the conversion of the residual annuity into present value dollars representing non-dilutive financing, enables us to quickly capitalize on the Help Worldwide opportunity by focusing resources on near term revenue producing activities. We believe the opportunity presented by the Help Worldwide partnership will prove to be substantial in terms of value creation."
Spindle is an innovator of mobile commerce solutions for financial services providers and consumer-facing merchants of all sizes. Spindle is focused on pioneering new ways for businesses to rapidly integrate mobile payments acceptance and mobile marketing services while empowering location-based merchant discovery, fulfillment and frictionless mobile payments for consumers. Spindle is dedicated to expanding beyond traditional electronic payment boundaries by offering cutting-edge solutions that allow clients, partners, merchants and consumers to take full advantage of the rapidly emerging mobile economy. Spindle has an extensive proprietary intellectual property portfolio -- which includes patents pending -- that encompasses networks, mobile payments, and security. For more information, visit www.spindle.com.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Executive Vice President
Source: Spindle, Inc.
Released June 11, 2015