Protext Mobility Issues Corporate Update
May 22 2014 - 8:55AM
Marketwired
Protext Mobility Issues Corporate Update
Company Adds Award-Winning Auto Dealer to Expanding Network of
Distributors; Repays and Retires 100% of Convertible Notes Held by
Asher Enterprises
DELRAY BEACH, FL--(Marketwired - May 22, 2014) - Protext
Mobility (OTCQB: TXTM), a developer of innovative and trusted
applications for the mobile communications market, today announced
that the Company has continued its exponential growth within the
auto dealer market with the addition of East Hills Chevrolet in
Douglaston, NY. East Hills has been named Chevrolet Dealer of
The Year in the NY area by Dealer Rater for the past two years, and
will now be marketing and selling Protext's distracted driving
solution to its customers. The Drive Alert product provides users
with the ability to block the use of certain mobile device activity
in equipped vehicles while in motion -- particularly text
messaging, the mobile internet, email and social media activities
-- including taking and posting "selfies" to social
media.
"Our nation is in the midst of a safety crisis when it comes to
distracted driving. We are pleased that the auto dealer
industry not only recognizes the need for our solution, but also is
embracing DriveAlert as THE product to answer that need. East Hills
Chevrolet is an award-winning auto dealer, and we are proud to be
partners with a company that is so dedicated to the safety and
satisfaction of their customers," Mr. Berman went on to
say.
The Company is also pleased to announce that it has repaid and
retired 100% of convertible notes held by Asher Enterprises, Inc.
in principal amounts totaling $47,393 USD. Including accrued
interest and contractual buyout provisions the debt was officially
retired for $65,000 USD. Therefore, there will be no more
conversions owed to Asher in conjunction with these notes and the
corresponding debt has been removed from the Company's balance
sheet. "Management is committed to advancing the financial
health of our Company in a sustainable manner, and removing this
debt is an important milestone toward that end," concluded Mr.
Berman.
About Protext Mobility, Inc. Protext Mobility (OTCQB: TXTM)
develops innovative applications and trusted solutions for
consumers and businesses operating in the mobile communications
marketplace. The Company's mobile communications service offering
provides consumers with mobile solutions to monitor text activity
and curb device usage while driving, as well as businesses
solutions to help manage mobile communications activities amongst
employees. Protext Mobility markets its services under the
SafeText, DriveAlert and CompliantWireless brands. For more
information on the Company and its suite of mobile solutions for
consumers and businesses, please visit
http://www.protextmobility.net
About East Hills
Chevrolet At East Hills Chevrolet, we pride ourselves in
providing the highest quality of service imaginable. We don't just
try and sell you a car, we help you buy one. Our promise is to
match or beat any valid offer while continuing to provide you with
complete satisfaction before, during, and after the sale. At
East Hills, our mission is to provide you with a simple and
pleasant experience, whether you buy or not. We can assure you
that as a potential East Hills Customer, we will make every effort
to help make your next new or used car purchase a confident
one. For more information about East Hills Chevrolet, please
visit their website at http://www.easthillschevrolet.com
Disclaimer: The press release may include certain statements
that are not descriptions of historical facts but are forward
looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. These forward-looking statements are identified by
words such as "may," "expects," "believes," "anticipates,"
"intends," "projects," or similar terms, variations of such terms
or the negative of such terms and include statements regarding
the potential impact of our new Drive Alert solution and the market
opportunity for our new Drive Alert solution. There are a number of
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements made herein. Such
information, including information regarding financial statements,
is based upon various reasonable assumptions made by, and
expectations of, our management. All such assumptions are
inherently subject to significant economic and competitive
uncertainties and beyond our control and contingent upon
assumptions with respect to the future business decisions, which
are subject to change. Accordingly, there can be no assurance that
actual results will meet expectation and actual results may vary
(perhaps materially) from certain of the results anticipated
herein. The Company has no obligation to update these
forward-looking statements.
Protext Mobility Contact: Steve Berman Chief Executive Officer
516-637-4061 investors@protextm.com info@protextm.com
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