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SPBU CHART 0.0630

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08/22/2011 (16:43 ET) SPBU: Filed New Form 10-Q, Quarterly Report - Edgar

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Spare Backup Has Accepted the Resignation of Robert Binkele as a Member of the Company's Board of Directors

Friday , August 26, 2011 08:00ET

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MINDEN, Nev., Aug. 26, 2011 /PRNewswire/ -- Spare Backup, Inc. ("Spare Backup") (OTCBB: SPBU) today announced that Robert Binkele resigned as member of the Board of Directors of Spare Backup, Inc. effective August 22, 2011.

Mr. Binkley Has served as member of the board since September 19, 2008. In his letter to the company Mr. Binkele stated that his many responsibilities, including managing J.P. Turner branches and acting as CEO of the Estate Planning Team, left him with insufficient time to devote to the increasing board responsibilities as Spare Backup moves forward with its expansion plans. There was no disagreement between Mr. Binkele and Spare Backup which led to his resignation.

Management intends to increase the board to five members through the addition of two independent directors and is in active discussions with several potential candidates. Management anticipates the board additions to take place in the near future as the Company continues the rollout of Spare Backup and Spare Mobile in Europe and North America.

Commenting on the announcement Cery Perle, President and CEO of Spare Backup, stated "We are thankful to Bob for his 3 years of dedicated service on our board and wish him well in his personal and business endeavors. We are also looking forward to the expansion of our board in the near future as we enter what we believe will be an exciting period of growth for our company."

About Spare Backup, Inc.

Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer, tablet and mobile data quickly, automatically and cost-effectively. The company's flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user's choice.

Safe Harbor Statement

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.

Forward Looking Statements:

This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in Spare Backups filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Beverly Jedynak, President, Martin E. Janis & Company, Inc., 312-943-1123, [e-mail]

SOURCE Spare Backup, Inc.

Public Companies Associated with this story:
SPBU

Knobias Subject Codes Associated with this story:
Management Issues

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08/25/2011 (16:21 ET) SPBU: Filed New Form 8-K, Material Event Disclosure - Edgar

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 25, 2011


SPARE BACKUP, INC.
(Exact name of registrant as specified in its charter)


Delaware

0-30787

23-3030650
(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

990 Ironwood Drive, Minden Nevada

89423
(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code

775 329 2180

not applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 22, 2011, Robert Binkele resigned from the Board of Directors of Spare Backup, Inc. (the “Company”) to pursue his other personal and business interests. Mr. Binkele’s resignation was not the result of any disagreement with the Company or any matter relating to its operations, policies (including account or financial policies) or practices.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


SPARE BACKUP, INC.

Date: August 25, 2011

By:

/s/ Cery Perle
Cery Perle,
Chief Executive Officer and President

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Spare Backup Reports Financial Results for Second Quarter of 2011

Tuesday , August 23, 2011 08:01ET

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MINDEN, Nev., Aug. 23, 2011 /PRNewswire/ -- Spare Backup, Inc. ("Spare Backup") (OTCBB: SPBU) today announced its financial results for the second quarter of 2011.

-- 2nd Quarter 2011 Revenue Increases by over 300% from 1st Quarter 2011
due to Web Development and Software Customization Fees as well as Test
Launch Sales for New Distribution Partners
-- Management Sees a Significant Ramp up in Revenue as Several
Distribution Partners Begin Large Scale Deployment of Data Backup and
Mobile Security Offerings Across Europe and North America

For the second quarter ended June 30, 2011 we reported revenue of $156,000, more than a 300% sequential increase over the $38,000 in revenue reported in the first quarter of 2011. The increase in revenue is a result of website development, software customization and test launch sales of our data backup and mobile security software offerings with our European and North American distribution partners. The company reported a net loss of $2.0 million for the second quarter of 2011, a 41% improvement over the $3.5 million loss recorded in the second quarter of 2010 on $227,000 in revenue.

Revenue for the six month period ending June 30, 2011 was $194,000, a decrease of $584,000 when compared to the same six month period in 2010. The decrease was attributable to deferred revenue recorded in the 2010 six month period from a contract terminated by management in December of 2009 to pursue relationships with two larger European distribution partners in the mobile device and mobile warrantee space that will be launching large scale offerings in the third and fourth quarters of 2011. For the six month period ending June 30, 2011 our net loss was $2.1 million compared to $5.9 million in the comparable six month period in 2010.

Management anticipates a substantial ramp in revenue in the second half of 2011 as our distribution partners in Europe and North America begin large scale deployment of our suite of data backup and mobile security products focusing on smart phone and tablet devices. Our developers have converted our product to support the local language in the Netherlands and are in the process of converting eight additional languages for anticipated launches in Germany, Ireland, Italy, Spain, Poland, Romania, Czech Republic and Turkey. Additionally, as a result of the continued strong adoption rates for smart phones in our target markets coupled with the sharp decline in feature phone usage, management believes it is unlikely that it will consummate its proposed acquisition of Tarsin. Management will instead focus its resources on its current partnerships to support their substantial deployment efforts.

Commenting on the quarter Cery Perle, President and CEO of Spare Backup, stated, "We are pleased to begin to scratch the surface of what we believe will be a prolonged period of substantial revenue growth for Spare Backup. We have substantially reduced our expenses while we worked to develop our unique cloud based platform for an extensive array of data backup and mobile security products. Additionally, by foregoing short term gains to build cutting edge products along with an extensive distribution network in the mobile retail, internet, warrantee and insurance space, we believe we are poised to experience tremendous growth through the expected launches that our partners have scheduled over the remainder of this year and into 2012. We are also confident that our discussions with other potential partners will enable us to continue on a strong growth track for the foreseeable future. We believe that as our partners execute and we continue to build on our cloud based products we can quickly achieve positive cash flow from our operations and future profitability."

About Spare Backup, Inc.

Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively. The company's flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user's choice.

Safe Harbor Statement

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.

Forward Looking Statements:

This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in Spare Backups filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise

CONTACT: Beverly Jedynak, President, Martin E. Janis & Company, Inc., 312-943-1123, [e-mail]

SOURCE Spare Backup, Inc.

Public Companies Associated with this story:
SPBU

Knobias Subject Codes Associated with this story:
Earnings Release

Content provided by PR Newswire Copyright © 2011
Content transmitted by Knobias.com Copyright © 2011 Visit Knobias.com

http://www.knobias.com/story.htm?eid=3.1.b56d29ac8eef5df5ea881da135da72e5bc96eaf9f3cd64f44191063e0dc15bac

http://www.knobias.com/individual/public/quote.htm?ticker=SPBU

ABOUT | PARTNERS | ADVERTISING INFO | CONTACT US | COPYRIGHT | PRIVACY | LEGAL | DISCLAIMER
Copyright © 2011 Knobias.Com, LLC. All rights reserved.
Data and information is provided for informational purposes only, and is not intended for trading purposes. Neither Knobias.Com, LLC, nor any of its data or content providers shall be liable for any errors or delays in the content, or for any actions taken in reliance thereon. By accessing the Knobias.Com website(s), a user agrees not to redistribute the information found therein. Knobias.Com, LLC is not a registered broker-dealer and does not endorse or recommend any securities listed herein or any services of any brokerage company.


08/22/2011 (16:43 ET) SPBU: Filed New Form 10-Q, Quarterly Report - Edgar

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7783286

http://www.knobias.com/individual/public/quote.htm?ticker=SPBU