MacroSolve Inc. (NASDAQOTH:MCVE)

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Member Avatar TMFStockSpam (99.99) Submitted: 11/19/2010 5:20:57 PM : Underperform Start Price: $0.23 MCVE Score: +149.34

Detailed Quote:
Company Profile:
MacroSolve, Inc. is a pioneer in delivering mobile apps, technologies, and solutions to businesses and government. Founded in 1997, the company has an extensive network including the top name brands in wireless hardware and software as well as wireless carriers. Leveraging its intellectual property portfolio, MacroSolve is positioned to become a leader in the mobile app space, projected to become a $17.5 billion market by 2012. The company operates through its subsidiaries including Anyware Mobile Solutions and Illume Mobile.
MCVE News:
November 16 - MacroSolve Raises $775,000 in Bridge Funding to Support Patent Monetization Strategy
Fund Raise Oversubscribed by $275,000
MacroSolve, Inc. (OTCBB: MCVE), a leading provider of mobile technologies, apps and solutions, announced that it has closed on a convertible debenture for bridge funding in the amount of $775,000. Funding sources included some of the company's current investors as well as select institutional investors. The bridge funding was originally set at $500,000. Greater than expected investor interest among a few investors, however, led to an oversubscription of $275,000, for a total raise of $775,000.
Funds will be used to support the company's monetization strategy for its newly issued mobile app patent, as well as for general operating expenses.
MacroSolve President and CEO, Clint Parr, commented, "Clearly the market, including both equity and debt investors, has reacted quite enthusiastically to the award of our patent. We are pleased to accept further investment from our current, very loyal shareholders, as well as from select institutional investors who are new investors with MacroSolve. With these funds, we will further accelerate our patent monetization timeline."
As previously announced on October 28, MacroSolve was awarded a landmark mobile app patent, U.S. Patent Number 7,822,816.

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