Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Pat Romanski, Carmen Gonzalez, Kevin Jackson, Peter Silva

News Feed Item

Spare Backup Provides Corporate Update

Spare Backup Moving Forward With ShieldX2Plus Rollout While Working to Complete 2013 Financial Audit and Quarterly Financial Reporting Through June 30, 2014

MINDEN, NV -- (Marketwired) -- 07/07/14 -- Spare Backup, Inc. (OTC Pink: SPBU) (PINKSHEETS: SPBU) ("Spare Backup" and "the Company") a provider of smartphone and tablet protective solutions including lightweight protective cases, device insurance, data backup and security software, announced today a corporate update for the first half of 2014.

Business Initiatives

Beginning late in the fourth quarter of 2013, Spare Backup began focusing its development and sales efforts on its ShieldX2 product, which includes a lightweight protective casing for smartphones and tablets than can be bundled as ShieldX2 and ShieldX2Plus to include repair and replacement insurance backed by an A+ rated insurance provider. Data backup and security software is also available, and will be included in some of its offerings. Over the course of the first half of 2014, the Company completed the device designs and established manufacturing relationships to scale production. Spare Backup has also entered an agreement with a third party insurance provider for the product launch. As of June 30, 2014, the Company offers the ShieldX2 and ShieldX2Plus smartphone protection packages for the iPhone 4, 4s, 5c and 5s, Samsung Galaxy S4, S5 and Note 3, and the HTC1. ShieldX2Plus packages for tablets are also available for iPad, iPad mini, and Samsung Tab3.

The Company is in the early stages of marketing ShieldX2 and ShieldX2Plus packages through a number of channels, including wholesale, B2B, direct to consumer and retail. The Company has also launched an E-commerce marketing campaign for its website: www.shieldx2plus.com. There are currently more than fifteen large potential distribution outlets, both domestic and international; conducting evaluations of various ShieldX2Plus offerings and the Company expects to determine the results of those evaluations over the course of the second half of 2014. Should those evaluations be successful and lead to significant orders, Spare Backup expects to quickly ramp up productions with its manufacturer in the coming quarters and into 2015.

Due to its limited financial resources and in order to focus on developing the ShieldX2Plus, the Company has begun to migrate from hosting its cloud based Spare Backup services for third party distributors. In February of 2014, the Company entered into a two year license software sale with its largest distribution partner to enable that distributor to independently host data storage for their customers using Spare Backup. The agreement provided for an acceleration of revenue for the Company and resulted in a significant reduction in hosting costs. We do not anticipate receiving significant future revenue from this distributor for the duration of the term of the agreement. The Company will continue to provide hosting services for its other distribution partners for the foreseeable future. In mid-2013, the Company was able to terminate its contract with its data center and enter a new contract with another data center at considerably lower rates.

Financial Reporting

As previously reported by Spare Backup in a filing with the Securities and Exchange Commission ("SEC") in October of 2013, we engaged Kyle L. Tingle, CPA, LLC ("KLT") as our new independent registered public accounting firm to audit the Company's consolidated financial statements. At this time, the Company is delinquent in the filing of required periodic financial reports with the SEC for the second quarter, third quarter and year-end of 2013, as well as the first quarter of 2014. The Company continues to work with KLT to become current in its reporting. While no definitive timetable has been set for the completion of these filings, the Company is working diligently and believes it will be in a position to become current with its reporting requirements with the SEC on or before the end of the third quarter of 2014.

About Spare Backup, Inc.

Spare Backup, Inc. is a provider of smartphone and tablet protective solutions including lightweight protective cases, device insurance, data backup and security software. Spare Backup's flagship product is the ShieldX2, a lightweight protective casing for the most popular smartphones and tablets currently on the market that protects those devices from drops, spills and water damage. The Company bundles this product with low cost comprehensive device insurance offered through an A+ rated third party insurance provider which its markets under the name ShieldX2Plus. The Company also offers Spare Backup software that enables consumers and small to medium sized businesses to easily protect valuable mobile and computer data quickly, automatically and cost-effectively. Spare Backup software allows for the continuous cloud-based backup of device data as well as integration of content across various devices. The software also provides enhanced security features to protect valuable data on any lost or stolen devices. Spare Backup distributes its products through various channels including major retail and warranty service partners in North America and Europe.

Safe Harbor Statement

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.

Forward Looking Statements:

This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement.

Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in Spare Backups filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that that Innodisk, the service-driven provider of industrial embedded flash and DRAM storage products and technologies, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies. With satisfied customers across the embedded, aerospace and defense, cloud storage markets an...
SYS-CON Events announced today that WSM International (WSM), the world’s leading cloud and server migration services provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. WSM is a solutions integrator with a core focus on cloud and server migration, transformation and DevOps services.
Sonus Networks introduced the Sonus WebRTC Services Solution, a virtualized Web Real-Time Communications (WebRTC) offer, purpose-built for the Cloud. The WebRTC Services Solution provides signaling from WebRTC-to-WebRTC applications and interworking from WebRTC-to-Session Initiation Protocol (SIP), delivering advanced real-time communications capabilities on mobile applications and on websites, which are accessible via a browser.
SYS-CON Events announced today that Site24x7, the cloud infrastructure monitoring service, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Site24x7 is a cloud infrastructure monitoring service that helps monitor the uptime and performance of websites, online applications, servers, mobile websites and custom APIs. The monitoring is done from 50+ locations across the world and from various wireless carr...
SYS-CON Events announced today that Intelligent Systems Services will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Established in 1994, Intelligent Systems Services Inc. is located near Washington, DC, with representatives and partners nationwide. ISS’s well-established track record is based on the continuous pursuit of excellence in designing, implementing and supporting nationwide clients’ mission-cri...
SYS-CON Events announced today that B2Cloud, a provider of enterprise resource planning software, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. B2cloud develops the software you need. They have the ideal tools to help you work with your clients. B2Cloud’s main solutions include AGIS – ERP, CLOHC, AGIS – Invoice, and IZUM
SYS-CON Events announced today that Tufin, the market-leading provider of Security Policy Orchestration Solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. As the market leader of Security Policy Orchestration, Tufin automates and accelerates network configuration changes while maintaining security and compliance. Tufin's award-winning Orchestration Suite™ gives IT organizations the power and a...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things...
“With easy-to-use SDKs for Atmel’s platforms, IoT developers can now reap the benefits of realtime communication, and bypass the security pitfalls and configuration complexities that put IoT deployments at risk,” said Todd Greene, founder & CEO of PubNub. PubNub will team with Atmel at CES 2015 to launch full SDK support for Atmel’s MCU, MPU, and Wireless SoC platforms. Atmel developers now have access to PubNub’s secure Publish/Subscribe messaging with guaranteed ¼ second latencies across PubN...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Events announced today that On the Avenue Marketing Group, a sales and marketing firm that utilizes events to market and sell products to consumers, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. On the Avenue Marketing Group (OTA) is a sales and marketing firm that utilizes events to market and sell products to consumers. On behalf of our clients, we attend thousands of fairs, festivals, exp...
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch ...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists will discuss how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations m...