Xumanii Shareholder Update and Change of Name to Imerjn
October 18 2013 - 6:00AM
Xumanii (OTCQB:XUII) announced that it will change its name to
Imerjn. The change of name will only be a DBA (doing business as)
of the existing name and will not result in a change in the
Company's symbol. The Company intends to register the DBA with the
Nevada Secretary of State within the next two days. Future
references to the Company will be made using the name Imerjn.
Imerjn CEO, Adam Radly, said, "The name will be our brand so we
wanted a name that was original and reflected the personality of
the company going forward as well as the products that we will
develop. The name is a play on the word immersion. We are
transitioning into a new world where we will be even more immersed
in technology and the technology will be so intelligent you won't
know it's there. That's the technology and market segment that we
will be targeting."
The Company also launched its new website today
(www.Imerjn.com). The information on the website is currently
limited but will be expanded significantly over time. Effective
immediately the old website will only serve as the website for the
Xumanii live event streaming business unit. Information for
investor relations will not be provided on the old website and will
only be provided on the new website. Any shareholder enquiries
should be directed to the new website.
The Company will also take this opportunity to provide more
detail regarding its short and long term strategy. Imerjn will
focus on developing mobile solutions including mobile apps and the
core focus will be on mobile solutions for asset tracking. The
Company will seek to differentiate itself by utilizing RFID and
other tracking technologies.
The market for apps is large and growing. According to research
released by Gartner in September 2013, current trends in smartphone
adoption will drive 102 billion app store downloads this year. 90
percent of them will be from Apple's App Store and Google Play.
This will lead to global app revenues of $26 billion in 2013. By
2017, Gartner projects that there will be 268 billion downloads
annually, amounting to $77 billion in revenue. Downloads will grow
2.6 times in the next four years, while revenues are increasing
2.9-fold.
Management is also actively pursuing acquisition opportunities
that are a direct fit with the current business strategy; however,
management also recognizes that the Company has some early stage
business units and has limited resources so the Company intends to
be "opportunistic" when it comes to assessing acquisition
opportunities.
Where possible management will provide metrics that will allow
shareholders to track value creation. The medium term strategy
involves building Imerjn into a respected consumer brand and
eventually seeking a listing on the NASDAQ or NYSE.
Imerjn CEO, Adam Radly, said, "We will provide frequent updates
regarding the development, release and uptake of our products."
On Friday October 11, Xumanii won a motion to be dismissed
from a lawsuit filed against it and various other Defendants.
About Imerjn
Imerjn (XUII), formerly known as Xumanii International Holdings
Corp, is development stage company that develops and sells mobile
software and hardware solutions. For more information please visit
the company website at: http://www.imerjn.com. Contact: Adam Radly,
info@imerjn.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: Except for historical
information, the forward-looking matters discussed in this news
release are subject to certain risks and uncertainties which could
cause the Company's actual results and financial condition to
differ materially from those anticipated by the forward-looking
statements including, but not limited to, the Company's liquidity
and the ability to obtain financing, the timing of regulatory
approvals, uncertainties related to corporate partners or
third-parties, product liability, the dependence on third parties
for manufacturing and marketing, patent risk, copyright risk,
competition, and the early stage of products being marketed or
under development, as well as other risks indicated from time to
time in the Company's filings with the Securities and Exchange
Commission. The Company assumes no obligation to update or
supplement forward-looking statements that become untrue because of
subsequent events.
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