|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.
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT depl...
Jan. 21, 2017 03:45 AM EST Reads: 1,984
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
Jan. 21, 2017 02:00 AM EST Reads: 5,814
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, discussed how leveraging the Industrial Internet and...
Jan. 21, 2017 01:30 AM EST Reads: 6,566
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 21, 2017 01:15 AM EST Reads: 4,900
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Jan. 21, 2017 01:15 AM EST Reads: 5,050
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Jan. 21, 2017 01:15 AM EST Reads: 2,885
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Jan. 21, 2017 12:15 AM EST Reads: 6,375
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Jan. 21, 2017 12:00 AM EST Reads: 4,709
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Jan. 20, 2017 10:45 PM EST Reads: 928
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus o...
Jan. 20, 2017 08:45 PM EST Reads: 4,390
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Jan. 20, 2017 05:45 PM EST Reads: 2,104
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Jan. 20, 2017 05:15 PM EST Reads: 3,827
"LinearHub provides smart video conferencing, which is the Roundee service, and we archive all the video conferences and we also provide the transcript," stated Sunghyuk Kim, CEO of LinearHub, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 20, 2017 03:00 PM EST Reads: 1,663
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Jan. 20, 2017 02:15 PM EST Reads: 646
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jan. 20, 2017 01:30 PM EST Reads: 5,748
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Jan. 20, 2017 01:30 PM EST Reads: 5,255
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Jan. 20, 2017 12:30 PM EST Reads: 3,205
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
Jan. 20, 2017 12:30 PM EST Reads: 1,668
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, 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.
Jan. 20, 2017 12:30 PM EST Reads: 4,360
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
Jan. 20, 2017 12:15 PM EST Reads: 5,847