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| Market Reacts Positive to Big News up 47%! |
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 Hot Stock to Watch |
Company: Ubiquity Inc. (Pink Sheets: UBIQ)
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Last:
Price: 0.1225
Change (%): + 0.0445 (57.05)
Volume: 880,668 |
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Ubiquity, Inc. Announces Exclusive License Agreement with Sprocket Wearables, Inc.
Company Completes 1.5M Dollar Licensing Deal for Production of Apple Wearable Platforms
IRVINE, Calif., Nov. 4, 2015 /PRNewswire/ -- Ubiquity, Inc. (OTCQB: UBIQ) ("Ubiquity" or the "Company"), a technology development and licensing company that holds an extensive portfolio of patents across multiple technology market verticals, today announced that it has entered into an Exclusive License Agreement with Sprocket Wearables, Inc. to build the Company's Apple Wearable platforms. The Sprocket Wearables agreement calls for an initial license fee of 1.5M dollars and a royalty equivalent to15% of the gross sales of all licensed goods and services.
"This agreement with Sprocket Wearables, Inc. is a key ingredient to our launching of Ubiquity's trailblazing technology and its signature product," stated Chris Carmichael, Chief Executive Officer and Chairman of Ubiquity. "Sprocket Wearables will enable users to be in touch with their personal and global community of contacts anytime, anywhere, while having a mobile lifestyle that's more centralized and easier to use due to this unique Sprocket Platform."
Carmichael added, "The fact that our first project will be for the integration of the Sprocket into the Apple Watch makes this venture even more exciting."
Jordan Edelson, CEO of Appetizer Mobile, LLC, said, "We're extremely enthusiastic about our partnership with Ubiquity for the creation of the Sprocket Platform for Sprocket Wearables. Game-changing, mobile technology always piques interest, and this technology certainly got ours. We are very proud to be a part of this endeavor."
"Ubiquity's Sprocket Wearables are going to raise the bar for mobile networking products within the industry," stated Dr. Jeffrey Cole, Ubiquity's advisory board member and Director of the Center for the Digital Future for USC's Prestigious Annenberg School for Communication. "This agreement furthers our mission to creating a higher standard of networking technology within the global communications industry."
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