Pingify Announces Termination of a Material Definitive Agreement With Beyond.com

Pingify Announces Termination of a Material Definitive Agreement With Beyond.com


    
      
      

EDMONTON, AB--(Marketwired - May 14, 2014) - Pingify International Inc. (OTCQB: PGFY) is an Edmonton, Alberta-based startup in the classified space. Pingify's patented technology enables users to receive information about classified listings directly on the mobile device via "Pings." 

On March 13, 2012 Pingify International, Inc. signed an agreement with Beyond.com, a premier Career Network focused on helping people grow and succeed professionally by connecting job seekers and employers through 70 unique career channels and 3,000 industry and regional communities. The basic terms of the agreement were as follows:

1. Beyond.com will pay PINGIFY INTERNATIONAL INC. $.05 per click.

2. Beyond.com, at its discretion, may raise or lower this daily cap at any time by delivering notice to Client through electronic means.

3. Beyond.com would provide API access to PINGIFY INTERNATIONAL INC. to integrate into PINGIFY INTERNATIONAL INC.'s job search results.

4. Beyond.com will provide one or more API keys to track unique registrations from PINGIFY INTERNATIONAL INC.

5. Total clicks will be tracked by Pingify. All monthly payments will be delivered monthly and will be based on Pingify's tracking information.

6. Either party may terminate for any reason with 24 hours' notice through electronic or written communication.

In accordance with the terms of the Agreement dated March 1, 2012 between Pingify International, Inc. and Beyond.com, on May 9, 2014 Beyond.com gave written notice to Pingify International, Inc. that they were terminating the Agreement due to the fact that Pingify International did not generate any leads. There has been no revenue generated from the Beyond.com Agreement as of May 10, 2014.

Contact: Jason Gray [e-mail]780-628-6867