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.
President:
Mr. Brett Everett
1 866 587 2860
www.melypk.com
www.sproq.com
www.domainstutter.com
Forward-Looking Statements
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