Company Poised to Capture Market Share in $30 Billion Dollar Programmatic Mobile Ad Market
JERSEY CITY, N.J., Aug. 7, 2015 (GLOBE NEWSWIRE) -- SITO Mobile Ltd. (SITO) (SITOD), a leading mobile engagement platform provider, today announced that it has received approval from the NASDAQ Stock Market LLC ("NASDAQ") to list its common stock on the NASDAQ Capital Market. SITO common stock will retain the ticker symbol "SITO" and will commence trading on the NASDAQ Capital Market on Monday, August 10, 2015.
The Company's uplisting comes on the heels of several major events, most notably, the acquisition of the mobile advertising assets of Hipcricket Inc. SITO recently reported a 72% year-over-year increase in revenue led by strong sequential growth in its media placement business.
Jerry Hug, CEO of SITO Mobile said, "Following another solid quarter, we are pleased with the timing of our NASDAQ listing. This has been one of our defined goals for 2015 which will help to increase our exposure, enabling us to attract a broader range of institutional investors and analysts. We have accomplished a great deal over the past several quarters and remain focused on executing our plan."
About SITO Mobile Ltd.
SITO Mobile provides a mobile engagement platform that enables brands to increase awareness, loyalty and ultimately sales. For more information visit www.sitomobile.com.
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, our reliance on brand owners and wireless carriers, the possible need for additional capital as well other risks identified in our filings with the SEC. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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