MONARCH BAY, Calif., April 10, 2012 /PRNewswire/ -- Microelectronics Technology Co. (OTC-BB: MELY):
Microelectronics Technology Corporation is pleased to announce the completion of a letter of Intent to Joint Venture with Fidelity Capital Partners of Nevis for the development of an industry specific Web Application Marketing Network utilizing Microelectronics Technology's proprietary technologies such as DomainStutter.
The Web Application Marketing Network will be targeting the Web Applications industry that will be utilizing Cloud Data Corporations proprietary Sproq Network for their cloud hosting needs.
The web application market is set to explode over the next 3 years with the roll out of the Web Application concentrated Windows 8 operating system by Microsoft.
The Development of a Web Application Marketing Network is essential to provide developers a secondary market place to market web apps for retail end users outside of the traditional venues such as the Windows Store or the Apple Store that require certain compliance issues in order to participate in one platform or another but not both. The utilization of the Sproq.com interface and Hosting will enable a seamless entry to market for Web App developers.
"We are very excited to be entering into a joint venture agreement with Fidelity Capital Partners for the development of this Web Application Marketing Network," states Microelectronics Technology President Brett Everett. "The company is well underway to establishing the foundation of a vertically integrated Cloud Application Hosting company with significant growth opportunities in the near future."
According to breathtaking new research from Microsoft, the result of a commission to analyst firm IDC, approximately fourteen million new jobs will be created by the year 2015, all of those jobs stemming from a swelling boom in cloud computing. Profits generated from such a boom in cloud activity to skyrocket to more than $1 trillion dollars within the exact same time frame. This combination of revenue heights and a shot in the arm to unemployment woes worldwide could potentially translate into an unprecedented shift in workplace structure. Readers, the take home figure is three years — the amount of time in which cloud's significance will mushroom.
Sproq.com service is currently under development, with developmental servers and hardware already deployed. Sproq.com is scheduled for launch second quarter 2012 and Cloud Data Corp is planning for the first point of presence in Seattle, Washington.
A pre- beta launch sign up is available at www.sproq.com where invites will be sent out for our beta.
For further Information:
Microelectronics Technology Co.
Mr. Brett Everett
1 866 587 2860
This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital.
Additional considerations and risk factors are set forth in reports filed on Form 8-K and 10-K with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements.
SOURCE Microelectronics Technology Corporation