Ubiquity, Inc. Appoints New Chief Executive Officer

IRVINE, Calif., June 9, 2016 /PRNewswire/ -- Ubiquity, Inc. (OTCBB: UBIQ) ("Ubiquity" or the "Company"), a vertically integrated, technology-focused media company, announced it has appointed industry veteran Nicholas Mitsakos as CEO of Ubiquity, Inc.

Mitsakos is a technology industry leader and investment veteran, starting his investment career at Goldman Sachs. Mitsakos began his business career as the Founder of General Computer Corporation, which was sold to Atari. Mitsakos received an MBA from Harvard University and a B.S. from the University of Southern California in computer science and microbiology

Mr. Mitsakos currently manages an investment fund focusing on public securities. He has acquired or invested in over 40 companies in the U.S., Asia and Europe, and has managed over $3 billion in capital for these transactions. Mitsakos has served as either a director or advisor to each company, working closely with management, the board of directors and other investors. Nick Mitsakos currently serves as the Co-Chairman of Ubiquity, Inc. and has worked closely in the past with its Board of Directors and Officers. He serves as an active Advisor to several well-known technology and pharmaceutical companies and has served as the Director and founding Chief Executive Officer at multiple companies.

As a part of the company's corporate restructuring plan, Nick Mitsakos the current Co-Chairman has been appointed Ubiquity's interim CEO. Ubiquity's current CEO and Co-Chairman, Chris Carmichael will continue to serve as Chief Creative Architect leading the company's technology design, media design, branding, and product design.

"As Ubiquity executes its corporate restructuring plan and our virtual technology platform expands into Augmented and Virtual reality and Holography, I look forward to focusing on my role as Chief Creative Architect," said Carmichael. "Nick has the background and ability to take Ubiquity into the ever expanding technology industry and the new market segments of virtual reality, holography, augmented reality, and expand the revenue opportunities."

"I'm excited to work in partnership with Chris Carmichael to develop, enhance and expand the company's products to capture the growing opportunities in virtual and augmented reality, along with Ubiquity's other exciting technology platforms, leading Ubiquity's business into these emerging technology markets. We began our restructuring plan with the spinning off the Companies studios into its own dedicated business unit. Ubiquity is focused on its revenue opportunities in the virtual technology platform and Sprocket platform, while also developing the independent creation of virtual content," said Mitsakos. "I look forward to working in close partnership with our Chief Creative Architect and driving this business into its next successes."

About Ubiquity, Inc. (OTCBB: UBIQ)

Based in Irvine, CA, Ubiquity is a vertically integrated, technology-focused media company. Ubiquity is focused in five specific areas with a robust portfolio of patents and intellectual property. The Company has developed an intuitive user interface making access to all content from any device in a simple, consistent format. Ubiquity enables the search and identification of any object and image in all video and digital media and has developed a platform for mobile transaction including the integration of payments, money transfers, coupons and gifts. Ubiquity has also developed an industry-leading, intuitive, immersive consumer experience for all web-based activity. Finally, the company allows for the personalization of all content, whether public or private, in a unique accessible way. Ubiquity's intellectual property and unique cloud-based technology combines Mobile as a Service ("MaaS") with Software as a Service ("SaaS") to enable its customers to structure their content and data in a mobile cloud to deliver innovative user experiences to their multiscreen communities and audiences worldwide. Through Ubiquity Labs the company is leveraging an extensive portfolio of intellectual property spanning Web 3.0, immersive advertising, video compression, content distribution, e-commerce, and mobile applications to support the commercialization of new technologies. In addition, Ubiquity intends to pursue strategic licensing opportunities. Ubiquity, Inc. owns 51% of Sprocket Hong Kong Ltd., and receives 60% of the revenue generated from Sprocket HK Ltd. For more information go to www.ubiquitycorp.com

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This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this news release, the words "estimate," "project," "belief," "anticipate," "intend," "expect," "plan," "predict," "may," or "should," and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the failure of the business strategy, the integrity of the Company's patents, proprietary intellectual property, and competition. The Company cautions that the foregoing list of risk factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events, including the risk factors set out in the Company's 10K/A for the year ended December 31, 2014. See the sections entitled "Risk Factors" in Ubiquity's quarterly and annual reports as filed by Ubiquity from time to time with the Securities and Exchange Commission. The Company has assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.

Contacts:

Rubenstein PR
Loretta Mock
212-805-3067
[email protected]

Jeanne Turkheimer, Account Executive
212-805-3073
[email protected]

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SOURCE Ubiquity Inc.

Related Links

http://www.ubiquitycorp.com