MOBICOM Corp. First Quarter 2008 Revenues Increase 2416% To $1.38 Million; After...

Tue May 13, 2008 11:31am EDT

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MOBICOM Corp. First Quarter 2008 Revenues Increase 2416% To $1.38 Million; After Tax Net Income Increases 617% To $241,060

SAN DIEGO--(Business Wire)--
MOBICOM Corp. (OTCBB: SLTS) today released its operating results
for the first quarter ending March 31, 2008. Revenue was $1,382,858
resulting in after-tax net income of $241,060. Satellite Security Corp
acquired the business of AIMMS Co Ltd., in December 2007 and has
changed its name to MOBICOM Corp.

   Revenues were $1,382,858 for the three months ended March 31,
2008, compared to $54,959 for the same period in 2007. Revenues
increased $1,327,899 or 2416% for the three months ended March 31,
2008, compared to the same period in 2007. The increases were
primarily due to the successful launch of full scale operations after
the initial period which began February 17, 2007.

   Revenues were derived primarily from the Consulting Division of
Mobicom Korea which provides clients with strategic marketing
services, such as Decision Support Systems, which are designed to
assist clients in the development of their mobile marketing campaigns.
The Decision Support System is then used to analyze the client's brand
position in the market place and in turn to design predictive
behaviour modelling and consumer purchase programs which are then
implemented by our clients.

   General and administrative expenses include payroll and related
employee benefits, and other headcount-related costs associated with
finance, sales, marketing, facilities, and legal and other
administrative fees. General and administrative costs were $1,141,684
for the three months ended March 31, 2008 compared with $15,845 for
the same period in 2007. General and administrative expenses increased
$1,125,839 for the three months ended March 31, 2008, compared to the
same period a year ago. The increases in general and administrative
expenses were primarily due to the launch of full scale operations
after the initial period which began February 17, 2007.

   Net income includes income from operations and other expense.
MOBICOM Corp. recorded net income of $241,060 for the three months
ended March 31, 2008 compared to net income of $33,617 for the same
period in 2007, an increase of 617%. The increase in net income for
the three months ended March 31, 2008 as compared to the same period
in 2007, was due to an increase in revenue of $1,327,899 offset by an
increase in operating costs of $1,120,343. Fully diluted earnings per
share based of 52,222,034 shares outstanding were $.005 per share for
the quarter.

   Commenting on the results, MOBICOM Corp CEO, Michael Levinsohn,
said, "First quarter 2008 results reflect approximately six weeks of
full operations pursuant to our acquisition of AIMMS and the
establishment of Mobicom Korea. The market for the products and
services offered by MOBICOM Korea continues to be positive and despite
talk of a slowdown in consumer spending, the mobile phone sector
remains buoyant."

   Brand owners worldwide are continually increasing their spend on
mobile marketing and eMarketer forecasts that US Mobile Advertising
spending will grow from $878 million in 2007 to $6,2 billion in 2012.
Mobile Media Advertising Spending in Korea is going to grow from $180
million in 2008, to over $700 million in 2012, according to eMarketer.
MOBICOM Korea generates revenue through consulting services as well as
from executing mobile marketing campaigns on behalf of its clients.
The market for innovative mobile phone applications in Korea is highly
sophisticated with 3G and 4G services being offered to consumers via
high speed networks.

   "Given the positive developments subsequent to the launch of full
operations in mid February, we are now starting to look at expansion
opportunities which give us backward integration in the Korean market
and expansion into other Asian markets. China is obviously of
particular interest to us and we are exploring the market in a
measured way. Most of the services offered by MOBICOM Korea can be
introduced into other markets through strategic partnerships, with
minimal capital investment or financial exposure. Our products and
services are well positioned in high growth markets," said Levinsohn.

   About MOBICOM Corp

   MOBICOM (presently Satellite Security Corporation) is capitalizing
on the fast growing mobile phone industry. According to available
industry data, there are approximately 3 billion cell phones in use
worldwide and more than 1 billion Internet connections. With the
convergence of technologies and the ability to target individual
subscribers, transaction based applications are expected to grow
exponentially for the foreseeable future. Mobile network operators
worldwide have identified data as a high growth area and in particular
user generated applications.

   MOBICOM Korea, www.mobicomkorea.co.kr is a global leader in the
provision of mobile marketing solutions for both mobile phone networks
and brand owners who wish to target customers in a meaningful and
measurable way. The acquisition of MOBICOM Korea by MOBICOM Corp in
December 2007 provides access to a number of leading companies in the
Korean market. Mobicom Korea, under the AIMMS brand, has provided
database marketing, membership rewards systems, CRM systems and mobile
marketing services to inter alia Dongbu Group, LG, CJ Corp (Jeil),
Johnson and Johnson, Procter and Gamble, Microsoft, LG Telecom,
Citibank, HSBC, American Express, Shinhan Life, Kookmin Card, Miliore,
Missa, LG Card, Webtour, Pizza Hut, HanilWorld, Grand Korea Leisure
and Sport ToTo.

   FORWARD LOOKING STATEMENT: This press release contains
forward-looking statements, including expected industry patterns and
other financial and business results that involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, levels of activity, performance or achievements to differ
materially from results expressed or implied by this press release.
Such risk factors include, among others: whether MOBICOM can
successfully execute its operating plan; the sustainability of recent
growth rates in the cell phone market; the positioning of MOBICOM Corp
products in the market; ability to integrate acquired companies and
technology; ability to retain key employees; ability to successfully
combine product offerings and customer acceptance of combined
products; general market conditions, fluctuations in currency exchange
rates, changes to operating systems and product strategy by vendors of
operating systems; and whether MOBICOM Korea can successfully develop
new products and the degree to which these gain market acceptance.
Actual results may differ materially from those contained in the
forward-looking statements in this press release. MOBICOM Corp and
MOBICOM Korea do not undertake any obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results.

Corporate Inquiries
MOBICOM Corp.
Michael Levinsohn, President and Chief Executive Officer
949-554-5505
mlevinsohn@gmail.com

Copyright Business Wire 2008
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