SCOTTSDALE, AZ — (Marketwire) — 01/11/12 — Spindle Inc. (OTCBB: CHYFD), a national provider of innovative mobile commerce and alternate payment solutions for businesses and consumers, has announced it has acquired the assets of Spindle Mobile, a developer and distributor of transactional technologies. As a result of this acquisition, Spindle, Inc. will assume development and distribution of all Spindle Mobile solutions, including RhinoPay®, its soon-to-be-released mobile application that enables person-to-person (P2P), person-to-business (P2B) and business-to-person (B2P) commerce across a wide array of mobile networks and devices. Spindle, Inc. expects to become publicly-traded under the symbol SPDL.OB on January 18, 2012.
“The acquisition of Spindle Mobile-s assets, including its foundational intellectual property, marks a significant milestone for our new company,” said David Ide, Chairman of the Board of Directors of Spindle, Inc. “From an operational standpoint, we are now properly positioned to build the infrastructure that is required to fully leverage the escalating business opportunities in the mobile commerce sector. From a financial perspective, this deal gives our new company a unique opportunity to attract new investment that will bolster product delivery efforts, and help us fulfill our mission to become the leading provider of conversion and transaction solutions for merchants and consumers.”
According to Ide, Spindle, Inc. plans to retain members of the Spindle Mobile product innovation team to continue and expand product creation efforts. The new entity will maintain their headquarters in Scottsdale, AZ with satellite offices in San Diego, CA and Coconut Creek, FL.
Spindle Mobile is an innovator of mobile payment solutions for the banking industry, retail sector and consumer-facing companies. A pioneer in “Frictionless Finance,” the company is actively developing new and improved ways for companies and end consumers to fluidly transact and exchange funds, regardless of platform. The Company is dedicated to delivery of secure payment services crossing traditional boundaries by offering cutting-edge solutions that enable buyers, sellers and individuals to transact face-to-face or virtually using mobile or internet devices, this includes RhinoPay®, a frictionless way to pay. The Company also owns and has developed an extensive intellectual property portfolio, including patents pending, covering networks, mobile payments and security. For more information, visit
This release includes 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. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Spindle Contact:
Glenn Goldberg
Parallel Communications Group
516-705-6116