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WordLogic Corporation and Codima Enter into a Joint Venture
VANCOUVER-(Business Wire)-September 4, 2008 - WordLogic Corporation (OTCBB:WLGC) announced today that it has signed a letter of intent to enter into a joint venture with Codima Inc. for the purposes of developing and commercializing their advanced web search and crawl related technology. The joint venture will be owned 50/50 between companies.
WordLogic Corporation’s reasoning for entering into this business relationship stems from a recent report that William Pipkin completed relating to the commercialization, market penetration, and valuation of the Company’s technology.
In this comprehensive report William Pipkin asserts that WordLogic Corporation has the technology, capability and expertise to build through organic growth a multi-billion dollar revenue stream by capturing a percentage of the Traffic Acquisition Costs (TAC) of the world wide Internet keyword search market. Mr. Pipkin believes that the Company can also double the overall size of the TACs captured by using its technology to capitalize on the explosive growth of the SmartPhone market by enabling users to readily carry out Internet keyword searches.
Mr. Pipkin details in his report why WordLogic Corporation has a competitive advantage in the TAC market for PCs and especially for SmartPhones. The full document will be made public soon after this proprietary technology is protected by way of a patent pending filing.
“This vertical application should give WordLogic an advantage when competing for ad revenue in the same space as the likes of Google and Yahoo,†commented Frank Evanshen, WordLogic's President and CEO.
About WordLogic Corporation
WordLogic Corporation is a technology company that delivers predictive interface solutions for computing devices ranging from small hand-held devices such as PDAs to laptops and tablet PCs to conventional desktop computers. Incorporated in the United States, the company’s research, testing and marketing facilities are located in Canada.
For more information, please visit www.wordlogic.com
This release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements. 'Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as expects, ''will,' 'anticipates, ''estimates, ''believes, 'or statements indicating certain actions 'may, 'could,' or 'might' occur.
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