"Is the future of apps that they store data in the cloud?" Tamte says. "'Not yet' is what we're saying."

Projectbook is available at a discounted introductory price of $2; the app will sell for $7 after August 15. It runs on the iPad 2 and third-generation iPad.

Theory.io has plans to expand Projectbook to other platforms and devices. A Mac version is in the works and slated for a fall release. When that version arrives, ProjectBook will gain the ability to clip Web pages as well as synchronize between Mac and mobile offerings. An iPhone release is also slated for the fall, with other devices on tap after that.

The iPad version of the app requires iOS 5.