|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.
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
May. 5, 2016 04:00 PM EDT Reads: 755
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
May. 5, 2016 03:45 PM EDT Reads: 703
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
May. 5, 2016 02:45 PM EDT Reads: 1,057
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
May. 5, 2016 02:30 PM EDT Reads: 1,482
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
May. 5, 2016 01:45 PM EDT Reads: 749
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
May. 5, 2016 01:30 PM EDT Reads: 573
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
May. 5, 2016 12:30 PM EDT Reads: 1,313
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
May. 5, 2016 12:30 PM EDT Reads: 1,349
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 5, 2016 10:15 AM EDT Reads: 1,019
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, will provide tips on how to be successful in large scale machine lear...
May. 5, 2016 10:15 AM EDT Reads: 1,566
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
May. 5, 2016 10:00 AM EDT Reads: 1,462
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
May. 5, 2016 09:30 AM EDT Reads: 1,487
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
May. 5, 2016 09:00 AM EDT Reads: 1,275
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
May. 5, 2016 08:45 AM EDT Reads: 1,392
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
May. 5, 2016 06:00 AM EDT Reads: 1,354
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
May. 5, 2016 02:00 AM EDT Reads: 1,323
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
May. 5, 2016 12:45 AM EDT Reads: 1,414
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
May. 5, 2016 12:00 AM EDT Reads: 1,236
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
May. 4, 2016 11:45 PM EDT Reads: 1,287
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
May. 3, 2016 12:15 PM EDT Reads: 1,653