Mobile Development News

SmartServ, a mobile company with distributions on BREW, J2ME, WAP, SMS, and other mobile platforms including Pocket PC and RIM Blackberry.

Revenues were down to $73, 711 from $230,987 same time last year.

Highlights:

Completion of Private Placement. SmartServ raised $10 million in gross
proceeds in its private offering of investment units consisting of shares
of Series A Convertible Preferred Stock and warrants to purchase Common
Stock. SmartServ also converted approximately $3 million of its notes
payable into these investment units in the private placement.

Acquisition of nReach. The acquisition of nReach adds the distribution of
ringtones, games and other mobile entertainment applications. Through
this acquisition SmartServ will market a variety of mobile applications
on a touch screen kiosk.

SmartServ Reports First Quarter 2004 Results