NEW YORK, NY--(Marketwire -06/27/12)- Augme® Technologies, Inc. (AUGT), ("Augme" or the "Company") a technology and services leader in interactive media marketing that offers the only patented end-to-end mobile marketing and mobile advertising platform, today announced that, in furtherance of its pending application for listing on The NASDAQ Global Market, Augme's Board of Directors (the "Board") has scheduled Augme's 2012 annual meeting of stockholders for July 30, 2012 (the "Annual Meeting") to approve, among other things, a proposal to provide the Board with the authorization to effect a reverse split of Augme's common stock in a ratio of between 1 for 2 and 1 for 5. The Board believes that the successful implementation of the reverse stock split will enable the Company to satisfy the applicable $4.00 per share bid price requirement for initial listing on The NASDAQ Global Market.
While the Company does not qualify for NASDAQ's new $2.00 per share standard for initial listing on NASDAQ's lower tier, The NASDAQ Capital Market, the Company believes it can satisfy all applicable quantitative requirements for initial listing on The NASDAQ Global Market once it achieves a $4.00 per share bid price. Accordingly, the Board is asking Augme's stockholders to vote at the Annual Meeting to provide the Board with the discretionary authority to effect a reverse stock split to help facilitate a listing on NASDAQ.
About Augme Technologies, Inc.
Augme® Technologies, Inc. (AUGT) provides strategic services and mobile marketing technology to leading consumer and healthcare brands. Selling its products and services under the Hipcricket brand, Augme's platform has provided measurable successes across an industry-leading 175,000 campaigns for its clients, which include many of America's brand-name leaders (e.g., Macy's, MillerCoors, Nestle, Clear Channel) in a variety of industries, along with their agencies.
Augme's offerings allow marketers, brands, and agencies to plan, create, test, deploy, and track mobile marketing programs across every mobile channel, including SMS, MMS, 2D/QR codes, mobile websites, advertising networks, social media and branded apps. Augme's AD LIFE® platform facilitates consumer brand interaction and the ability to track and analyze campaign results. Using its own patented device-detection and proprietary mobile content adaptation software, AD LIFE® solves the mobile marketing industry problem of disparate operating systems, device types, and on-screen mobile content rendering. Augme also provides business-to-consumer solutions, including national mobile couponing campaigns, strategic mobile healthcare tools, custom mobile application development, and consumer data tracking and analytics. In addition to AD LIFE®, Augme in 2011 acquired the assets of Hipcricket, Inc. and JAGTAG, Inc. and licenses the digital broadcast platform BOOMBOX®. The Company's industry-leading patent portfolio includes 13 issued patents and over 80 pending patents in the U.S. and internationally with over 2,000 claims in the Technology, Media and Telecommunications ('TMT') space. Augme is headquartered in New York City, with operations in Seattle, Atlanta, Dallas, Los Angeles, San Francisco, Chicago, Miami and Tucson. For more information visit www.augme.com or www.hipcricket.com.
Augme Technologies™, Hipcricket®, Augme®, AD LIFE®, BOOMBOX®, AD SERVE® and the Augme logo are trademarks of Augme Technologies, Inc. All rights reserved. 2009-12.
This release includes forward-looking statements. All statements regarding our expected future financial position, including management's revenue guidance, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," " and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in Augme's Form 10-K for the year ended February 29, 2012 and more recent reports and registration statements filed with the SEC. Augme Technologies, Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter such forward-looking statements, whether as a result of new information, future events or otherwise.