VANCOUVER, June 29, 2015 /PRNewswire/ - WordLogic (OTCQB:WLGC), the predictive intelligence technology company announces that the non-exclusive global licensing agreement to all of WordLogic patents, including REACH patent-pending with ORA Capital has finalized all details of the agreement including the $250,000 financial obligation.
WordLogic is pleased that ORA Capital has formed a team of developers, marketing experts, and targeted sufficient funding to expedite release of Reach Ad technologies.
As mentioned in the previous release, this partnership will apply REACH technology to existing apps with a large user-base seeking a revenue model.
Under the terms of the aforementioned LOI, WordLogic's percentage will be paid on a gross basis, less cost of goods sold and commissions, which will be split 60/40 at the end of every quarter. As per example, if 1 million users utilize REACH within an app, revenue will be created as such: assuming each user purchases 1 Groupon coupon per year, and that the user will click-through ads presented by the REACH search mechanism twice a week. Approximately $3 million would be produced each quarter, accordingly. Less commissions and partnership split would result in approximately $700,000 per quarter in revenue to WordLogic, per 1 million users.
For more information, see the descriptive video of the patent-pending "Reach" advertising search engine and WordLogic technologies at www.wordlogic.com.
About WordLogic Corporation
WordLogic Corp. develops, markets, licenses and sells advanced predictive platform software designed to accelerate information discovery and text input. The Company's innovations operate on a wide variety of devices including smartphones, PCs, cell phones, Smart TV, media players, automotive navigational systems, infotainment and game consoles. The Company's intellectual property portfolio includes U.S. and European patents and numerous pending patent applications.
For more information about WordLogic Corporation, visit wordlogic.com.
WordLogic headquarters are located at 1130 West Pender Street, Suite 230, Vancouver, BC, Canada.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements and are subject to risks and uncertainties. See WordLogic's filings with the US Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE WordLogic Corp.