TULSA, OK, Oct. 30, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- AppSwarm, Inc. (OTC: SWRM), is pleased to announce it has
executed an MOU purchase structure for the acquisition of an excellent IT Solutions and Computer Network firm.
The firm, formed in 2003, is well established in providing comprehensive technology solutions and software for the corporate
sector and government contracting sector. The firm’s 2017 revenue was over $1,600,000 with EBITDA greater than $650,000. Revenues
are projected at $1,800,000 for 2018, and with contracts in place 2019 can be greater than $2,100,000. The agreed-upon purchase
reflects an acquisition value of $1,300,000.
The firm offers a wide range of solutions that include: Managed Services, the creation of Networks and Network
Support, Media Services, Software Creation and Updating, IT Security programs, Backup and Recovery, and Customized Software and
Support of the Software.
A long-term IT team is in place, which offers the ability for a diversity of products and services for multiple
market sectors. The team has historically created organic growth through the ongoing development of leading-edge products and
services. Long-term relationships have allowed the firm to create a solid base for the retention of accounts and base for
growth.
Ronald Brewer, CEO of AppSwarm, Inc., stated, “We are excited to be moving forward in the execution of our plan to
close three-complimentary acquisitions prior to the close of year 2019. The execution of the MOU allows us to consummate funding
needs within our equity partners while moving carefully thru due diligence. Once completed, this will be the first step toward
establishing long-term cash-flow streams. A solid cash-flow base allows AppSwarm to expend time and efforts on very lucrative
development projects that entail capital investment and can take twelve to eighteen months to bring to market while continuing to
grow our business revenues annually.
“Further, the acquisition IT team will provide AppSwarm excellent development support for growth that is available
to AppSwarm and retain the ability to create a more rapid growth program of their own revenues through continued organic
growth.”
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About AppSwarm
We develop and publish software platforms for specialty business needs, mobile apps, and gaming/entertainment
apps. We partner with business enterprise in potentially high-return joint-venture efforts, along with gaming developers. Other
revenue participations include; royalty agreements, marketing partnerships, and outright purchases through our publicly-traded
company on the OTC markets, ticker SWRM.
For more information, visit us at www.app-swarm.com, or follow us on Facebook (facebook.com/AppSwarm) or Twitter twitter.com/AppSwarm
Disclosures
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contain
forward-looking statements that are subject to risk and uncertainties including, but not limited to, the impact of competitive
products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from
time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks
could cause SWRM's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf
of, the Company.
Investor and Media Contacts: AppSwarm, Inc. 888-886-8583 info@app-swarm.com