|By Marketwired .||
|January 20, 2014 08:48 AM EST||
TORONTO, CANADA and NEW YORK, NEW YORK -- (Marketwired) -- 01/20/14 -- Intertainment Media Inc. ("Intertainment Media" or "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to provide a corporate update to its shareholders. The key components of the update cover internal programs, new business initiatives, portfolio investment companies, capital, Annual General and Special Meeting and investment / divestiture programs.
Over the past 14 months, management with guidance from its Board of Directors has spent a considerable amount of its time and energies devoted to reducing expenditures, moving from investment to execution, building key programs, like Yappn and Ortsbo's Customer Care initiatives and divesting of assets, including itiBiti, and Ad Taffy, Poynt and Tunezy and most recently announcing the proposed sale of Magnum Fine Commercial Printing Limited for an aggregate CDN $1.5 Million. The sales of itiBiti, Ad Taffy, Poynt and Magnum will continue to provide Intertainment with cash flow from payments of sale notes. With the divestitures completed and in the case of Magnum, underway and continuous expense review, the focus is concentrated on developing business programs for the Company's assets and investing in the creation and support of new initiatives.
Internal Programs and New Business Initiatives
The board and management have had ongoing discussions on how to best provide continued support and develop resources for Ortsbo as there is a considerable amount of opportunities within its business sector. The Company continues to evaluate internal and external opportunities for Ortsbo Inc. (www.ortsbo.com) and Mr. Anthony R. Pearlman, President and COO of Intertainment Media, upon his return from managing the sale of the Poynt technology and integration to the purchaser, is now focusing his primary energies on growing Ortsbo's Canadian and US operations and revenue generation. Mr. Pearlman has extensive experience in the Telecom and Business Processing Outsourcer (BPO) space, having previously held the position of President at Enghouse Systems in Toronto. Mr. Pearlman's mandate is to expand the key offerings of Ortsbo within the global Customer Care arena and build the core revenue and to continue to pursue stand alone strategies for the business unit. Mr. Pearlman will also continue to hold his positions at Intertainment Media Inc.
Intertainment is expected to continue to expand its current incubation activities throughout fiscal and calendar 2014 and has been reviewing a number of new activities in the US, Canada and overseas. Given the divestiture of certain assets and the continued reduction in ongoing expenses, the Company has been evaluating a number of new technologies and social engagement programs. These include opportunities in the areas of eCommerce, Social Media, 3D Technologies, Online Entertainment, Data Analytics, Advertising and Branding and Language Services. The focus for the Company is to find, support through investment, internal development and acquisition and ultimately create ongoing revenue and / or exit value for these enterprises, which are next generation programs showcasing leading edge technology and social solutions that have significant opportunities to scale revenue and value. As an established leader in this area, having sold 4 properties at a profitable level in 2013 and in the process of a further portfolio exit and valuation exercise on others, the Company has proven experience in this sector.
Portfolio Investment Companies
Intertainment Media has a number of key Portfolio investments in technology, social media, online advertising and graphic services.
Yappn Corp. (OTCQB:YPPN) (www.yappn.com) is a US public company and a major asset opportunity for Intertainment Media focused through its technology programs and language services platform to enable people and brands the ability, through social, eCommerce and communications programs to communicate without a language barrier. Mr. David Lucatch, CEO of Intertainment created the premise for Yappn in late 2012 and has spearheaded the development and its management as CEO. Yappn's business and technology programs are developing at a rapid pace with recent partnerships and Mr. Lucatch has spent a considerable amount of his time and energy engaging in Yappn business advancement. The Board of Directors of both Intertainment Media and Yappn Corp. believe that this process is paramount to the success of the program and to the value of the asset. Mr. Lucatch currently remains CEO of Intertainment Media and is working with the Board and management to evaluate all activities at Intertainment Media as Yappn's business continues to develop. Intertainment currently controls 70 Million shares in Yappn, with direct ownership of 42 million shares. These shares become free trading, and a potential long term source of income, after March 28, 2014.
Cap That(TM) (www.capthat.com), an Intertainment Media non-controlling minority interest portfolio investment which has patent pending photo and video capture technology, continues to create a buzz in the marketplace by introducing its technology into the entertainment, music, sports, gaming and user generated sectors. Recently, Cap That(TM) entered into a master licensing agreement with Disney Music Group which has paved the way for recent launches of Cap That(TM) powered sites for notable artists such as Demi Lovato (www.capdemi.com), and Lucy Hale (www.caplucy.com) who currently has the #1 country song on iTunes. In the upcoming weeks, Cap That(TM) will also be launching a Cap That(TM) powered site for Ubisoft's Assassin Creed video gaming property. Cap That(TM) will continue to introduce artist websites featuring its technology and expects to be announcing more strategic and content related partnerships in the near future.
Lexifone (www.lexifone.com), which Intertainment Media owns a non-controlling minority interest, recently launched Lexifone 2 which offers natural and real-time translation for several major languages and dialects, including 3 versions of English (Australian, U.K. and U.S.) French (Canadian and European), German, Hebrew, Italian, Mandarin (Chinese and Taiwanese), Portuguese (Brazilian and European), Russian and Spanish (European and Mexican). The new version of Lexifone processes voice as it hits the airwaves and doesn't require speakers to change their voice patterns or to stop to press buttons along the way and is based on patented technology that leverages computation linguistics / linguistic optimization. Lexifone is working with government agencies, hospitality organizations and communications companies increasing its sales channels. Intertainment Media is working with Lexifone to explore commercial services that enable voice recognition and translation for entertainment and social communications through Yappn and customer care programs through Ortsbo.
Itibiti Ventures (www.itibiti.com), to which Intertainment sold its full ownership stake in 2013, retaining up to 40% for $3 Million plus a liquidity event feature, manages and operates core telephony technology that brings brands and consumers together. Itibiti continues to accelerate its business, growing revenues significantly this past year. Itibiti is now creating new channels of content and brand opportunities and is expected to continue to grow its business in 2014, creating potential ongoing cash flow and note repayment opportunities for Intertainment.
theAudience, (www.theAudience.com) to which Intertainment Media owns a non-controlling minority interest portfolio investment, continues to grow significantly as it manages the social presence of hundreds of celebrities reaching about a billion people each month. Intertainment has agreements to develop managed language services initiatives with its portfolio companies such as Yappn and theAudience for their clients. Program initiatives are currently underway.
Intertainment will provide additional updates to its continued investments as information becomes available.
Capital Investment and Annual General Meeting
Intertainment Media has developed a number of channels for ongoing capitalization for its business and continues to engage discussion in the development of a long term, minimally dilutive investment program both with Investment banks and asset managers and debt holders. The Company believes that this program, coupled with its ongoing activities and potential divisional success will provide the Company with strong long term capital opportunities which will foster and help to increase its incubation activities. The Company remains confident in its long term capital strategy and investment program and its ability to continue to execute its business operations.
The Company announced that its Annual General and Special Meeting of Shareholders will be held on February 28, 2014 at 9:30 am Eastern at the Sheraton Parkway Hotel and Conference Centre in Richmond Hill, ON.
Learn more at www.intertainmentmedia.com
About Intertainment - www.intertainmentmedia.com
Intertainment is one of Canada's leading technology incubators and is focused on developing, nurturing and investing in both North American and global technologies and companies that provide technology solutions for brands and consumers alike. Intertainment also owns and operates a number of key properties and has investments in leading edge technologies and social media platforms, including Magnum, Ortsbo, CapThat, theAudience, Lexifone, Shiny Ads and Yappn Corp (www.yappn.com). For more information on Intertainment and its properties, please visit www.intertainmentmedia.com
Intertainment is headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA and is listed on the TSX Venture Exchange under the symbol "INT" (TSX VENTURE:INT) and in the US on the OTCQX Market under the symbol "ITMTF". Intertainment is also traded in Europe on the Open Market (Regulated Unofficial Market) Frankfurt Exchange under the symbol "I4T".
Forward Looking Information
This news release contains certain "forward-looking information" within the meaning of such statements under applicable securities law, including statements relating to the expected use of proceeds of the Offering.
Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Actual timelines associated may vary from those anticipated in this news release and such variations may be material. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on this forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of (at least) three separate application components: the software embedded in the device, the back-end service, and the mobile application for the end user’s controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target –...
Sep. 29, 2016 08:45 PM EDT Reads: 1,541
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Sep. 29, 2016 08:45 PM EDT Reads: 2,203
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Sep. 29, 2016 06:15 PM EDT Reads: 3,669
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 29, 2016 05:15 PM EDT Reads: 2,852
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Sep. 29, 2016 04:45 PM EDT Reads: 2,784
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Sep. 29, 2016 04:45 PM EDT Reads: 3,439
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 29, 2016 04:30 PM EDT Reads: 1,340
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Sep. 29, 2016 04:00 PM EDT Reads: 2,393
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
Sep. 29, 2016 04:00 PM EDT Reads: 474
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Sep. 29, 2016 03:30 PM EDT Reads: 1,627
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 29, 2016 03:15 PM EDT Reads: 1,789
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 29, 2016 03:00 PM EDT Reads: 2,972
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Sep. 29, 2016 03:00 PM EDT Reads: 2,830
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Sep. 29, 2016 02:00 PM EDT Reads: 3,953
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
Sep. 29, 2016 02:00 PM EDT Reads: 1,183
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Sep. 29, 2016 02:00 PM EDT Reads: 3,627
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Sep. 29, 2016 02:00 PM EDT Reads: 4,202
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Sep. 29, 2016 01:45 PM EDT Reads: 1,128
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Sep. 29, 2016 01:30 PM EDT Reads: 4,459
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Sep. 29, 2016 01:15 PM EDT Reads: 376