UMFun Surpasses Over 50,000 Paying Monthly Subscribers in the Last 30 Days
Hong Kong, China (FSCwire) - UMeWorld Limited (OTC:UMEWF) announced today it has surpassed over 50,000 paying subscribers in the past 30 days, up from less than 8,000 at the end of September 30, 2017. In addition, UMFun has over 11,000 pre-orders which is expected to be converted into confirmed orders at the beginning of the 2nd half of the school calendar year in March, 2018. The Company expects to record these subscription proceeds during the 2nd quarter ending March 31, 2018.
Currently, UMFun has started to record revenues generated by one province and is expecting UMFun to generate revenues in several more provinces once the 2nd half of the school calendar year begins in March, 2018.
UMeWorld is an internet technology company with a focus on the K-12 education market in China. UMFun, the Company’s flagship product, is a cloud-based, adaptive learning and assessment platform that can intelligently analyze and adapt to a student’s performance and personalizes the delivery of proprietary educational items in accordance with the student’s learning needs. The kindergarten-to-grade-12 (K-12) educational system in China is the largest in the world, comprising approximately 200 million students. UMeWorld is on track to becoming a leading educational service provider in China.
Forward Looking Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the outlook for UMFun, quotations from management in this announcement, as well as UMeWorld's strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our limited operations and need to expand in the near future; the potential lack of market acceptance of our products; our inability to raise additional capital to fund our operations and business plan; our ability to continue as a going concern; our ability to continue to attract UMFun paid subscribers; our ability to maintain and enhance the UMFun brand; and our ability to compete effectively against our competitors. Further information regarding these and other risks is included in the Company's reports filed with, or furnished to the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and UMeWorld Limited undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.
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Released January 9, 2018