Rarus Technologies Inc. (PINK: RARS), an emerging technology company engaged in the establishment of an innovative business model intended to bridge cutting-edge social media and e-commerce into a marketplace, announced last week that it completed the beta testing of its Zngle Mobile app.
RARS said that it received a very promising test group feedback following the completion of beta testing. RARS also announced that it created a subsidiary company, Zngle Inc. It also filed an iOS Developer Program application with Apple iTunes.
Manfred Ruf, CEO of Rarus Technologies and Zngle Inc., said that with the ever increasing popularity of social media networks and the rapid advancement in the smart phone technology, the trends clearly show that consumers have come to rely heavily on their mobile devices in their daily lives and in particular when it comes to accessing and using social media networks. Ruf said that developing an impressive mobile app was not only a priority for Zngle, it was paramount in RARS’ plan to build a solid membership base.
Despite these positive developments, Rarus Technologies shares tumbled on Friday. The stock ended the day more than 55% lower.
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