Science & Technology
Science and Technology
Science and Technology
Tue, February 24, 2009 Secured Digital Applications, Inc.: Secured Digital's Channel Partner to Roll Out Mobile VoIP Services in Guangdong, China
NEW YORK, NY--(Marketwire - February 24, 2009) - Secured Digital Applications, Inc. (
Under the terms of the Agreement, Southpark will pay SDGL an annual license fee of 2.5 percent of the gross revenue generated by Southpark or $300,000 per year, whichever is the higher. The Agreement is for an initial term of three years and the parties will renegotiate on the license fee before the end of the three-year term. SDGL expects to receive its first payment during the third quarter of 2009.
SDGL had previously entered into a Channel Partnership Agreement with Southpark to promote SDGL's mobile advertising and mobile VoIP services that combines the reward of free mobile phone calls with the distribution of mobile advertisements to registered users.
Guangdong Province is China's biggest economic powerhouse with gross domestic product ("GDP") of approximately 3,570 billion yuan or $521 billion. Guangdong had met its 2010 GDP target of 3,440 billion yuan two years ahead of time. As of November 2008, China has over 616 million mobile phone subscribers with approximately 130 million registered subscribers in Guangdong (Source: Guangdong Provincial Bureau of Statistics).
"Our partnership with Southpark underscores our ability to rapidly apply our mobile VoIP technologies to meet the market needs of our partners," said Patrick Lim, Chairman and CEO of SDGL. "It provides SDGL with a long-term revenue stream that will allow the Company to continue to develop its vast proprietary product pipeline to bring more innovative products to the mobile VoIP market."
About Secured Digital Applications, Inc.:
Secured Digital Applications, Inc. is a provider of mobile communication, business process outsourcing and multimedia content production services. The Company's business is organized under two divisions. The first division is involved in multimedia production, information technology, computing consulting and business process outsourcing services. The second division is focused on mobile VoIP, mobile advertising, sale of smarthome and biometric security hardware, sale of Bluetooth, Global Positioning System and Radio Frequency Identification enabled applications. The target market for the Company's products and services include customers from the United States, Asia and Australia. For more information, please visit [ www.digitalapps.net ], [ www.eystar.com ] and [ www.sdawmedia.com ]. Information on our websites does not comprise a part of the press release.
About Southpark Worldwide Limited
Southpark Worldwide Limited, a privately held company, is a leading global end-to-end marketing specialist headquartered in London, UK. The Company's clients encompass a wide range of industries including financial services, hospitality and tourism; and transportation.
Safe Harbor Statement:
Information contained in this press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "is expected," "intends," "may," "will," "should," "anticipates," "plans" or the negative thereof. These forward-looking statements often include forecasts and projections for future revenue and/or profits and are subject to revision and are not based on audited results. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to vary materially from historical results or from any future results expressed or implied in such forward-looking statements. Such risks and uncertainties include, but are not limited to, economic downturns, failure to achieve anticipated short- and long-term financial benefits from our business, failure to achieve market demand and acceptance for our products and services and failure to generate sufficient capital or to obtain financing to fund our operations and growth. The Company does not undertake to update, revise or correct any forward-looking statements. Investors are cautioned that current results are not necessarily indicative of future results, and actual results may differ from projected amounts. For more complete information concerning factors that could affect the Company's results, reference is made to the Company's registration statements, reports and other documents filed with the Securities and Exchange Commission.
