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AppTech CEO Announces Release of First Quarter 2011 Financials
May 17, 2011 (02:05 PM EDT)
THE WOODLANDS, Texas, May 17, 2011 /PRNewswire/ -- Eric Ottens, CEO of AppTech Corp (Pink Sheets: APCX) announced that first quarter 2011 results have been released to OTC Markets (Pinksheets). Ottens comments: "The first quarter 2011 was technically, the first quarter of operations for AppTech and we were able to generate nearly $200,000 in revenue in this first quarter. For a company coming out of 'development stage' status, this is a significant achievement. We are committed to consistent revenue growth and we are predicting that AppTech will be profitable before the end of 2011. This would be a remarkable achievement since many new public companies do not generate profits for many years. Of particular importance is the fact that we are on track with our budget targets for 2011. For example, during the second week of May 2011 our Oronoco subsidiary generated more than $50,000 in revenue and continues to recruit new customers. Moreover, in partnership with Super Star Learning, AppTech will be releasing new apps during the month of June 2011."
About AppTech Corp
AppTech Corp is developing mobile application market places serving emerging markets in Latin America, Brazil and the USA. AppTech is focused on multi-platform mobile apps designed to run on device operating systems such as Apple iPhone and Google's Android. In addition, through its wholly owned subsidiary, Oronoco Telecom, AppTech is working on securing agreements with top communication companies in Central America, South America and The Caribbean.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
SOURCE AppTech Corp