Mind Technologies to Enter Mobile Applications Market

November 16, 2010 No Comments

SOURCE:  Mind Technologies

Mind Technologies, Inc, announced today that the company is gearing up to offer thought controlled applications to work with mobile applications on popular platforms such as Google’s DROID and a host of others. Until now, Mind Technologies efforts have been toward the PC gaming and medical applications. But with the growth and popularity of mobile applications, management feels that a huge opportunity is before us and cannot ignore this rapidly growing market.

According to a recent study, created by Chetan Sharma Consulting, mobile app downloads will likely jump from 7 billion in 2009 to almost 50 billion in 2012. By this time, the market will be worth 17.5 billion dollars, the study predicts, despite the expected lower price of mobile apps, which should drop from the current average of 2 dollars per app to 1.5 dollars in 2012.

“The size of the mobile applications market is hard to ignore,” said Brent Fouch, CEO and President of Mind Technologies Inc. “In fact, some experts are predicting that the PC will be a thing of the past within a few years and everything will be based on mobile devices. We are looking at acquiring additional assets to position the Company as the leader in the brain-computer-interface (BCI) market. We are positioning ourselves to take advantage of low-risk, high-reward markets that are emerging on a regular basis,” Fouch concluded.

About Mind Technologies, Inc.

Mind Technologies, Inc. develops software for thought controlled technologies, allowing the user to interact with the computer and other machines through the power of the mind. The technology involves the use of a wireless headset, which detects brainwaves on both the conscious and non-conscious level. This revolutionary neural processing technology makes it possible for computers to interact directly with the human brain. The Company creates medical applications and video games that are controlled by the power of your mind.

FORWARD-LOOKING STATEMENTS

From time to time, the Company may issue news releases that contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections.  This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties.  For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto.  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 upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.

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