DUBLIN, July 11, 2013 /PRNewswire/ -- World Assurance Group Inc. (www.worldassurancegroup.com) (OTC Pink: WDAS) today announces that its wholly owned subsidiary, CellAd Inc., has seen its AdKash user community grow by a further 15% during June, to reach nearly 90,000 total downloads during the beta phase. AdKash has seen significant updates since its beta launch and is currently on track to offer live service to all users before the end of September 2013. This would see CellAd generate its first revenues from advertisers paying for ads on the Adkash platform.
CellAd is currently in beta phase with its first smartphone app, AdKash, in a joint venture partnership with World Global Network pte ("WGN"). Under the partnership agreement, CellAd will hold a minority equity position in a newly formed company that will house the technology currently owned by WGN and is also the exclusive provider of advertising for the joint venture. CellAd books revenues based on amounts received from advertisers and then shares a portion of that revenue with WGN users and affiliates on a pay per click system, like Google Ads. For each incoming call, SMS or MMS users can earn up to 5 cents. When a user accumulates 10 dollars, they can receive a branded AdKash Debit Card from which they draw funds earned.
AdKash is the first app of its kind to directly reward users for viewing advertisements on their mobile devices every time they receive a call or text message. By simply downloading the AdKash Android smartphone app from the Google Play store, users will unlock a unique new way to make money from their mobile devices. More information on how to download the app and learn more about how AdKash works can be found at www.cellad.com.
Mr. Sean McVeigh, CEO of CellAd, said, "Once again, we see continuing strong uptake and user interest in AdKash. The sustained growth in AdKash downloads at this early stage and ongoing app usage is an endorsement by users of AdKash's functionality. We are using this development phase to ensure that systems are operating as planned and can support the level of activity expected. We are pleased with the progress to date and are currently on track for full launch in this quarter as planned."
About World Assurance Group
World Assurance Group Inc. is a holding company that currently operates through two wholly owned subsidiaries: CellAd Inc., a digital media company based in Ireland operating in the global mobile advertising industry and ANAV Holdings Corporation, a development stage real estate investment company in the United States. CellAd Inc. has developed, along with its partners, a revolutionary new cloud based advertising platform that allows advertisers and brands to deliver high definition, full screen adverts, coupons and click-through offers to subscribers via its smartphone application. Once installed, every time the subscriber receives an inbound call or text message CellAd will pay the subscriber a fee in the form of cash or other agreed medium. Additional information may be found at www.worldassurancegroup.com
This press release contains forward-looking statements. Words such as "expects", "intends'', "believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE World Assurance Group, Inc.