In AEYE’s recently released update they stated multiple times that these were cash contracts. Going from minimal cash revenue to $1M in cash contracts is pretty impressive. I’m not sure of the timeframe of exactly when these contracts were secured, but things seem to be progressing for AEYE. It also looks like the stock sales related to the warrants being exercised has subsided for the most part.
AudioEye Closes Over $1 Million in Follow-Up Cash Contracts From Licensees
AZ–(Marketwired - Sep 10, 2014) - AudioEye®, Inc. (OTCQB: AEYE) (“AudioEye”) (“the Company”), creator of the Audio Internet® patented audio browsing and automated publishing technology platform, today announced that, consistent with its licensing strategy within the behavioral health industry, it has received cash contracts from customers valued at over $1 million. These represent follow-up contracts related to AudioEye’s previously announced licensing activity.
Over the past six months, the Company’s cross-licensing initiatives have primarily targeted the healthcare industry, as well as local, state and federal government market verticals. Such licensing has created infrastructure and sales relationships that have resulted in cash contracts which reflect the growing traction of AudioEye’s industry-leading website normalizing mobile accessibility platform in the marketplace.
“We are pleased to provide this update on our significant progress,” stated Nathaniel Bradley, Chief Executive Officer of AudioEye, Inc. “Our success has required a team effort, and I am very proud of the accomplishments of the entire AudioEye organization. We own the only patented Internet-based platform solution to web accessibility that normalizes website experiences and is currently remediating over a million such experiences for disabled users on a daily basis. We consider this a significant achievement and believe AudioEye is beginning to make a real difference in the quality of life for our customers and user communities. As we look forward to closing out our third quarter, we are focused on the continued capture of cash contracts, the development of AudioEye’s technology, and service to our growing customer base.”