Chalk Media Corp. (TSX VENTURE: CKM), developer of mobile
communications software Mobile chalkboard(TM), today issued the
following update from its President & CEO Stewart Walchli.
Given the contrast between the recent promising results of our
business and the volatility in the market, we felt that it would be
useful to provide an update on our business.
Summary:
- Strategy of focusing on large enterprise clients verticals in
specific verticals is delivering results
- Chalk has best two months of sales of Mobile chalkboard(TM) in
the company's history as measured by booked contract value, seats
of software sold and number of deals
- Sales progress made in the defense & aerospace,
telecommunications and media industries
- Approximately 50 organizations in various stages of formally
evaluating Mobile chalkboard(TM)
- Mobile chalkboard(TM) version 5.1 to be announced later this
week with significant advancements that are expected to have
positive impact on sales
Business Development:
Despite the difficult economic environment, July and August 2008
represented the best two months of sales of Mobile chalkboard(TM)
in Chalk's history. Several of the blue chip companies interested
in our software completed their evaluation of it and made a
decision to move forward with a purchase.
A very large international advertising agency based in London
and New York finished their evaluation and moved on to purchase.
This was tremendously exciting for us given that it is part of a
Global 500 company and we now have a referenceable blue chip client
in the advertising industry.
This licensing agreement validates our recurring revenue and
pricing model. Additionally, it reinforces our assertion that there
is strong demand for our software in our target industries. During
the past two months, we have received strong interest in our
software from large organizations in the defense & aerospace,
telecommunications and media industries. We will be announcing new
licensing agreements with additional companies.
Several new Fortune / Global 500 companies began evaluating our
software in the past two months. We now have approximately 50
organizations evaluating our software. We continue to push hard
with our sales team to execute on new licensing agreements.
Technology:
We will be announcing the launch of Mobile chalkboard(TM)
version 5.1 later this week. Version 5.1 has several new important
features that will help us win several high profile deals in the
short term.
We have now filed fourteen patents around our technology and
believe that we have the best in class technology, as validated by
our client wins.
Content Libraries:
In August we announced an agreement with MindLeaders, a leader
in off the shelf online training content, whereby their Business
Skills Library has been converted into the Mobile chalkboard(TM)
format. MindLeaders and Chalk clients can now license this library
of mobile content for use on Mobile chalkboard(TM). All content
sold in this format will require the purchase of our software. We
are expecting this to be a very effective strategy.
We have also had strong client interest in our proprietary
BlackBerry Productivity library. We developed this library to help
clients reduce their support costs of BlackBerry devices. We expect
several clients will deploy our Productivity Library in the coming
months.
We are currently finalizing similar agreements with several
other content providers as well as working on additional libraries
from MindLeaders.
Board of Directors:
In July we announced the appointment of Divesh Sisodraker to our
Board of Directors. Mr. Sisodraker has extensive software company
operating experience, having been the President & CEO of
Pivotal Software as well as the CFO of Taleo, a talent management
software company based in San Francisco. We are evaluating the
appointment of additional outside directors.
We will continue to keep you updated as our business progresses.
Thank you for your continued support.
The BlackBerry� and RIM families of related marks, images and
symbols are the exclusive properties and trademarks of Research In
Motion Limited. RIM assumes no liability and makes no
representation, warranty or guarantee in relation to third party
products or services.
About Chalk Media Corp.
Chalk's mobile content deployment system, Mobile chalkboard(TM),
allows multimedia content to be created, securely pushed and
tracked on BlackBerry� smartphones. Our software and content help
organizations communicate with their employees, business partners
and customers. Additional information is available at
www.chalk.com.
Forward Looking Statement
This press release contains "forward-looking statements" within
the meaning of applicable Canadian securities legislation.
Generally, forward-looking statements can be identified by the use
of forward- looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may" ,"could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Chalk to be materially
different from those expressed or implied by such forward-looking
statements, including but not limited to: risks related to the
speculative nature of the software industry, which is affected by
numerous factors beyond Chalk's control; the existence of present
and possible future government regulation; the significant and
increasing competition that exists in the software industry; and
risks associated with early stage companies such as Chalk,
including uncertainty of revenues, markets and profitability and
the need to raise additional funding.
Although Chalk has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Chalk does not undertake to update any forward-looking
statements that are incorporated by reference herein, except in
accordance with applicable securities laws. Further information on
Chalk Media Corp. is available at www.sedar.com.
The TSX Venture Exchange has not reviewed the contents of this
release and is not responsible for its accuracy.
Contacts: Chalk Media Corp. Kris Sutherland Executive Vice
President (604) 453-4424 Email: kris@chalk.com Website:
www.chalk.com
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