NEW YORK, March 11, 2014 /PRNewswire/ -- Single Touch Systems, Inc. (OTCQB: SITO) is an innovative mobile media solutions provider serving retailers, advertisers and brands. Through its proprietary suite of mobile solutions, Single Touch helps its retail and advertising clients engage with customers via their wireless devices. Single Touch has a core operating business consisting of high quality, organically growing revenue, 95% of which is recurring.
Single Touch Systems has reached several milestones and is now the subject of analyst coverage.
The company has experienced double digit revenue growth over the past four years, including the first quarter of fiscal 2014 ended December 31, 2013, revenues increased to $2.9 million, a 49% increase over the same period of the prior year.
The Company's intellectual property assets include 49 patents and applications, with 19 issued patents and 30 more pending. Having delivered Letters of Notification to some of the largest technology and media companies in the world, Single Touch has the opportunity to generate licensing and patent settlement revenues. The Company recently announced its first patent monetization event through a settlement agreement consisting of an up-front cash payment, and cross licensing agreement with a mobile technology company.
Single Touch has delivered Letters of Notification to several companies informing them of the Company's ownership of patents covering streaming and routing media. Letters of Notification have been delivered to Facebook (FB), Apple (AAPL), Netflix (NFLX), Google (GOOG) and its YouTube subsidiary, Turner Broadcast System and its CNN Worldwide division, both part of Time Warner (TWX), Yahoo (YHOO), Nickelodeon, a division of Viacom (VIA), Brightcove (BCOV), Dish Networks (DISH), Hulu, and Amazon (AMZN).
With these accomplishments and mobile media advertising industry is still in its infancy. Single Touch Systems Inc. has been able to competitively position themselves within this new emergent industry.
Cisco reports by the end of 2013, there will be more mobile connected devices than there are people on earth. There are now 5 billion mobile phone users worldwide with 1.5 billion having smartphones. Typical mobile users check their phones now 150 times per day. According to Advertising Age the average US adult spends 141 minutes per day using mobile devices. Mobile marketing is likely to continue to rise in the future. Global expenditure on mobile ads is forecast to grow to $21 billion in 2015, from an estimated $3.3 billion in 2011 (Gartner).
A full in-depth analyst report on SITO that includes a price target, key highlights, industry review, company strategy and strategic position, valuation summary, financial and ratio analysis, investment risks and corporate governance can be viewed by using the following link at no cost:
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