NEW YORK, October 11, 2012 /PRNewswire/ --
Forum Mobile, Inc. (OTC: FRMB), a global MVNE (Mobile Virtual Network Enabler), announced today that effective October 3, 2012, the Financial Industry Regulatory Authority (FINRA) approved its application to change its name from Quantum Telecom, Inc. to Forum Mobile, Inc. and to change its trading symbol from QTMI to FRMB. In conjunction with the name change, the company's common stock was assigned the following new CUSIP number: 34984W 108.
"The change of the company's name to Forum Mobile, Inc. reflects its association with Forum Group, a global group of companies, specializing in telecommunications, high tech investments, asset management and investment banking," said Benny Yehezkel, Executive Vice President of Forum Mobile, Inc.
Forum Mobile provides MVNOs as well as low-tier MNOs with an end-to-end platform, solutions and related services required for the launch of their business and operations, including core networking and IT, application development, MNO relationship, SIM cards solutions and handsets. Telecom operators can either install the platform on their premises or alternatively use a cloud-based/hosted platform in SaaS (Software as a Service) mode.
Zebra Technologies, a subsidiary of Forum Mobile, a value added distributor of information security and networking brands with business operations in Israel, which had revenues of approximately USD $10.7 million in the first half of 2012, (almost doubled compared to the first half of 2011, and over $16 million for the year 2011) provides Forum Mobile with its information security and networking domain expertise as well as its relationships with leading global software and equipment vendors.
The cutting-edge solutions currently distributed by Zebra Technologies include Juniper (Ticker: JNPR), Trend Micro (Ticker: TMICY), and VMware (Ticker: VMW), and allow Forum Mobile to provide a flexible, end-to-end solution that can address a telecom operator's needs, including the establishment of data centers. Recently Zebra added HP's (Ticker: HPQ), Enterprise Security solutions which complement the product offerings of Zebra Technologies and Forum Mobile to their clients.
This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management's current expectations and estimates, which involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward looking statements. These risks and other factors include but are not limited to: the success or failure of management's efforts to implement the Company's business plan; the ability of the Company to fund its operating expenses; the ability of the Company to compete with other companies that have a similar business plan; the effect of changing economic conditions impacting our plan of operation; and the ability of the Company to meet the other risks as may be described in future filings with the Securities and Exchange Commission. We cannot guarantee future results, levels of activity, performance or achievements. Forum Mobile, Inc. does not assume any obligation to update the forward-looking information contained in this press release.
Forum Mobile, Inc.
SOURCE Forum Mobile