TORONTO, June 18, 2012 /PRNewswire/ -- Mobile Integrated Systems, Inc. (OTC: MIBI) is pleased to announce the beta launch of MobiPark, the third line of business created within Mobile Integrated System's diversification and expansion strategy. With this announcement the portfolio has grown to include the MobiLotto, MSNav and now MobiPark mobile product lines.
"Following a successful fund raising campaign, we continue to invest in the depth of our product portfolio by launching MobiPark," said Murray Simser, President and Chief Executive Officer of Mobile Integrated Systems. He added, "We enter the market at a time when parking operators are struggling to replace the last generation infrastructure while reducing cost. They need mobile infrastructure to replace existing aging equipment, but do not wish to or cannot afford to invest the significant capital required to do it right. MobiPark is state-of-the-art solution that can be setup rapidly."
MobiPark will be the launch product of an eventual family of parking products. MobiPark offers app and server software with a set of tools to replace existing entry, payment, display and ticketing systems. This all digital system enables parking operators to provide a completely mobile experience to customers. Notable system features include turnkey mobile apps for iOS, Android and RIM devices, geolocation including geofencing features, self-serve registration and purchase, electronic contracts, term payment options, market-based pricing, a complete transaction and payment system, and a customer parking dashboard which includes parking renewal.
"Our team has built a great MobiPark prototype enabling us to actively sell to potential customers," said Todd Halpern, Chairman of the board of directors of Mobile Integrated Systems. He added, "We are in active discussion with several large operators and expect to announce our launch customer in a separate release in the near future."
About Mobile Integrated Systems, Inc.
Mobile Integrated Systems, Inc. is a technology company focused on developing and deploying mobile products and transaction systems to a variety of industry sectors including lotteries, gaming, transportation, telecommunications, and finance, among others. More information can be found at: http://mobileintegratedsystems.com/
This press release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such forward-looking statements are inherently uncertain. Our actual results may vary materially from those expressed in any forward-looking statements as a result of various factors and uncertainties. Mobile Integrated Systems, Inc. cannot provide assurances that any prospective matters described in the press release will be successfully completed or that Mobile Integrated Systems, Inc. will realize the anticipated benefits of any transactions. Various risk factors that may affect our business, results of operations and financial condition are detailed from time to time in the Annual Report on Form 10-K and in the Current Reports on Form 8-K and other filings made by Mobile Integrated Systems, Inc. with the U.S. Securities & Exchange Commission. Mobile Integrated Systems, Inc. undertakes no obligation to update information contained in this release.
SOURCE Mobile Integrated Systems, Inc.