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MShift Terminates License Agreement with IWAPI

FREMONT, Calif., March 9, 2012 /PRNewswire/ -- MShift announced today that effective immediately MShift has terminated the End User Software License Agreement between MShift Inc. and IWAPI Inc., as well as the Addendum, Amendment and Supplement to the MShift Software License Agreement dated November 4, 2000.

On or about January 20, 2012 and January 31, 2012, IWAPI issued via Business Wire two separate press releases, each entitled "MShift Reaffirms Strategic Relationship & IWAPI Rights to MShift Software and Technologies.Each of these releases contained statements that MShift believes to be inaccurate or misleading.

"While MShift is disappointed that events resulted in the need to part ways and terminate our relationship with IWAPI, we wish IWAPI good luck in its future endeavors," said Scott Moeller, MShift's Chief Executive Officer.

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