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SAE Expression College Students to host RenaiXXance, a Showcase of Bay Area Talent

Thu, 16/08/2018 - 20:57

Produced and hosted by the Entertainment Business students at SAE Expression College as part of their capstone project, RenaiXXance will highlight the talent and creativity within the entertainment industry of the San Francisco Bay Area on Saturday, August 18, 2018 from 5:00 – 9:00 PM at 6601 Shellmound Street in Emeryville, CA.

Emeryville, CA, Aug. 16, 2018 (GLOBE NEWSWIRE) -- The Entertainment Business Program students at SAE Expression College will host RenaiXXance, a showcase of student and alumni creativity and talent, as part of the Event Production class on Saturday, August 18, 2018 from 5:00 – 9:00 PM. The event will be held at the SAE Expression College campus at 6601 Shellmound Street in Emeryville, CA, and aims to highlight the creative talent and skills that reside in the Bay Area.

“Our Entertainment Business Program allows students practical training by producing an event as part of their capstone project,” says Elmo Frazer, Campus Director at SAE Expression College. “These students have worked hard to plan, coordinate, and promote this special event, and this experience will resonate with their future careers in the music and entertainment industry.”

A feature of the RenaiXXance event will be a panel discussion on the state of the Bay Area entertainment industry. Notable personalities on the panel will be:

  • Sway Calloway, SiriusXM Radio host, rapper, and former MTV correspondent;
  • DJ D Sharp, exclusive DJ for the Golden State Warriors;
  • Freddy Styles, GRAMMY®-nominated Hall of Fame SAE Expression College alumnus.

Following the industry panel, students and alumni will showcase their work, which will include live painting, short films, producers' beats, video games, and more, leading to live music performances from featured students and up-and-coming Bay Area artists to close out the event.

The event is open to public and free to attend. For more information or to register, contact the Entertainment Business class.

 

About SAE Institute
SAE Institute provides aspiring creative media professionals with a foundation of practical theory and valuable hands-on training in their chosen areas of concentration. Under the guidance of industry-experienced faculty, students gain the essential experience they need for entry-level jobs in the creative media industry. Students are supported in their job searches by SAE Institute’s international network of alumni, many of who are leaders in the music, film, game arts, and live performance arenas. SAE Institute offers accredited programs in Audio, Animation, Film, Games, and Entertainment Business focused on preparing students for employment in the creative media industry upon graduation. SAE Expression College is a subsidiary of SAE Institute Group, Inc., which is a part of Navitas LTD. Learn more at sae.edu.

About Navitas
Navitas is an Australian global education leader, providing pre-university and university programs, English language courses, migrant education and settlement services, creative media education, student recruitment, professional development, and corporate training services to more than 80,000 students across a network of over 120 colleges and campuses in 31 countries. Learn more at Navitas.com.

CONTACT: Jeffrey Baker SAE Institute North America 646-355-1804 j.baker@sae.edu

Generation NEXT Franchise Brands, Inc. Contracts CSA Service Solutions to Provide Full Service and Support to Robot Vendors in North America

Thu, 16/08/2018 - 17:48

The Service Agreement Will Provide Seamless Support for Some 1,000 Reis & Irvy’s Installations Expected by Year-End and a Further 2,000 Expected in 2019

SAN DIEGO, CA, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Generation NEXT Franchise Brands, Inc. (OCTQB: VEND) announced today an agreement with CSA Service Solutions, a leader in technical field service, to provide for both franchisees and corporate-owned units. Generation NEXT Franchise Brands’ flagship subsidiary, Reis & Irvy’s, is the world’s first franchise of robot-staffed, fully automated frozen dessert vending kiosks.

CSA works with a variety of blue chip companies in the Self Service, Healthcare, Laboratory, Critical Power and Security sectors. CSA offers cradle to grave solutions for companies like Generation Next, from planning of a rollout to decommissioning and everything in between.  Currently serving every zip code in the country, CSA has over 250,000 touches a year, ranging from Field Change Orders to Preventative Maintenance to Bench Repairs.  CSA has partnered with Emigrant Capital, a private equity division of Emigrant Bank.

With over $170 million in franchise and licensing contracts, Generation NEXT Franchise Brands, Inc. (OTCBB: VEND) is leading the way with frozen desserts, fully autonomous robotic delivery, visual and audio entertainment, and a unique retail experience.

“A Larger Footprint”

“With this caliber of nationwide service from the folks at CSA Service Solutions, we can substantially expand our footprint throughout North America” said Nick Yates, CEO of Generation NEXT Franchise Brands. “Not only will our franchisees benefit from the agreement, our ability to grow our base of corporate-owned robots is expected to accelerate by the end of this year,” Yates concluded.

“Looking at Generation NEXT’s executive leadership, with their emphasis on superior products and their vision of retail’s future, we expect to be working together for many years,” Luc Vallieres, President and CEO of CSA said. “And we have the ability to scale our full-service operations to match Generation NEXT’s massive expansion throughout North America.”

An Industry Disruptor

Generation Next Franchise Brands, Inc. (OTCQB: VEND) is the developer of the world's first fully-automated robotic frozen dessert vending kiosk designed to disrupt brick-and-mortar competitors. Reis & Irvy’s unattended robots eliminate the need for costly rents and employees; significantly reduce food safety concerns; and are capable of operating 24-hours a day.

Reis & Irvy’s-branded signature robot characters of the same name can dispense servings of frozen yogurt, ice cream, gelato and sorbet topped with a selection of six delicious toppings in under 60 seconds. With self-checkout touch screen ordering and payment options, video animation, music and delicious frozen dessert provided exclusively by Dannon, robot vendors meet consumers’ demand for immediate convenience, entertainment and a superior quality product - be it in shopping malls, medical centers and any other high-traffic area.

For more information, visit the Reis & Irvy’s website at www.reisandirvys.com or call Toll-Free (888) 902-7558.

About Generation NEXT Franchise Brands, Inc.

Generation NEXT Franchise Brands, Inc., based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol OTCBB: VEND. Generation NEXT Franchise Brands, Inc. is parent company to Reis and Irvy's, Inc. and Generation NEXT Vending Robots.

About Reis & Irvy's, Inc.

Reis & Irvy's, Inc. is a subsidiary franchise concept of Generation NEXT Franchise Brands, Inc. (VEND). Launched in early 2016, the revolutionary Reis & Irvy's Vending Robot serves seven different flavors of frozen yogurt, ice cream, sorbets and gelatos, a choice of up to six custom toppings and to customers within 60 seconds or less at the point of sale. The unique franchise opportunity has since established itself as a high-demand product and currently showcases a franchise network both domestically as well as internationally.

About CSA Service Solutions, LLC.

CSA SERVICE SOLUTIONS is a passionate, professional and customer centric service organization.  Established in 1998, we have worked on a number of prestigious contracts for global leaders in the healthcare, laboratory, critical power, security and self-service kiosk spaces.  We specialize in professional field service support, including anything from conceptualized design and implementation to FCO’s, repairs and preventative maintenance. Contact us at csa-service.com

This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. No Reis & Irvy's franchises will be sold to any resident of any state until the offering has been exempted from the requirements of, or duly registered in and declared effective by, such state and the required FDD (if any) has been delivered to the prospective franchisee before the sale in compliance with applicable law. Currently, the following states in the United States regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you reside in one of these states, or even if you reside elsewhere, you may have certain rights under applicable franchise laws or regulations.

Cautionary note on forward-looking statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning our future financial performance, including statements regarding: our ability to generate revenue and recognize deferred revenue; our ability to timely launch delivery and installation of our frozen yogurt robots; and our ability to grow our franchising and licensing divisions and launch our corporate-owned and direct sales platforms. The Company bases these forward-looking statements on its current expectations, estimates and projections about future events and the industry in which it operates using information currently available to it. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Forward-looking statements are identified by words such as "believe," "anticipate," "propose," "expect," "intend," "plan," "will," "may," "estimates," variations of such words and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this press release are set forth in our filings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K for the year ended June 30, 2017, our Quarterly Reports, and our Current Reports on Form 8-K. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated and the Company is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.


CONTACT: Media Contact: Darren Shuster Generation NEXT Franchise Brands, Inc. Phone: (818) 744-1851 Email: darren@popculturepr.com Reis & Irvy’s Website: www.reisandirvys.com CSA Service Solutions: www.csa-service.com

Avid Pro Tools | MTRX SPQ Speaker Processing Card Now Available

Wed, 15/08/2018 - 19:00

New speaker processing option card for Pro Tools | MTRX enables users to fine tune their mixing and monitoring environment for a consistent experience across mono, stereo and immersive formats

BURLINGTON, Mass., Aug. 15, 2018 (GLOBE NEWSWIRE) -- Avid® (Nasdaq: AVID), the leading technology provider of software tools and platforms that power the media and entertainment industry, today announced the availability of the Pro Tools® | MTRX SPQ Speaker Processing Card for speaker calibration and bass management. Built for the Pro Tools | MTRX audio interface, the SPQ option card enables complete control of monitoring systems in stereo, surround, and immersive audio production rooms. It gives customers precise control and allows them to tune rooms, manage bass and EQ monitors, and cue signals for the most challenging music and audio post-production projects.

“Immersive formats are now commonplace in film and television and becoming popular in music as well, and engineers need to monitor their work in multiple formats,” said Rob D’Amico, Director, Market Solutions | Pro Audio & Digital Business Development, Avid. “With the Pro Tools | MTRX SPQ Speaker Processing Card, customers can maintain a consistent, high-quality sound when switching between different audio formats and speaker sets—enabling them to keep pace with increasing session complexity.”

The Pro Tools | MTRX SPQ Speaker Processing Card gives customers precise control with 1,024 IIR filters across 128 channels per card (up to 16 filters per channel). It integrates with DADman and Pro | Mon software for MTRX, enabling customers to save and recall configurations for any audio format—from stereo to immersive audio, including Dolby Atmos. In conjunction with Pro Tools | MTRX, the SPQ option card is a fully integrated speaker processing and I/O solution that streamlines workflows and eliminates the need for additional devices in the signal chain.  

The Pro Tools | MTRX audio interface provides the highest standard in premium studio-quality sound. Developed in collaboration with Digital Audio Denmark (DAD) and designed for Pro Tools | HDX, HD Native, and other pro audio systems, it delivers the superior sonic quality of DAD’s legendary AD/DA converters, as well as extensive, flexible routing and monitoring control.
      
Pro Tools | MTRX is fully modular and with eight card slots, and it can be customized to fit any workflow. With the addition of the SPQ card, there are now 10 different option cards that customers can mix and match to meet their needs.

Availability
Pro Tools | MTRX SPQ option card is available now. For more information, visit https://www.avid.com/products/pro-tools-mtrx.

About Avid
Avid delivers the most open and efficient media platform, connecting content creation with collaboration, asset protection, distribution, and consumption. Avid’s preeminent customer community uses Avid’s comprehensive tools and workflow solutions to create, distribute and monetize the most watched, loved and listened to media in the world—from prestigious and award-winning feature films to popular television shows, news programs and televised sporting events, and celebrated music recordings and live concerts. With the most flexible deployment and pricing options, Avid’s industry-leading solutions include Media Composer®, Pro Tools®, Avid NEXIS®, MediaCentral®, iNEWS®, AirSpeed®, Sibelius®, Avid VENUE™, FastServe®, Maestro™, and PlayMaker™. For more information about Avid solutions and services, visit www.avid.com, connect with Avid on FacebookInstagram, TwitterYouTubeLinkedIn, or subscribe to Avid Blogs.

© 2018 Avid Technology, Inc. All rights reserved. Avid, the Avid logo, Avid NEXIS, FastServe, AirSpeed, iNews, Maestro, MediaCentral, Media Composer, PlayMaker, Pro Tools, Avid VENUE, and Sibelius are trademarks or registered trademarks of Avid Technology, Inc. or its subsidiaries in the United States and/or other countries. All other trademarks are the property of their respective owners. Product features, specifications, system requirements and availability are subject to change without notice.

PR Contact:
Avid                                                    
Amy Paladino                        
amy.paladino@avid.com                   
+1 617-733-5121                   

Red Lorry Yellow Lorry (Avid’s PR agency)  
Tanya Roberts – USA                        
Alex Humphries-French – UK
avid@rlyl.com

CEO Edward D. Ciofani of WhereverTV Returns to Discuss Company Updates with Everett Jolly on Uptick Newswire’s “Stock Day” Podcast

Wed, 15/08/2018 - 18:00

PHOENIX, Aug. 15, 2018 (GLOBE NEWSWIRE) -- WhereverTV (OTCQB:TVTV), (the “Company”) announced CEO, Edward D. Ciofani’s return interview with Everett Jolly, host of Uptick Newswire’s “Stock Day” Podcast.

Everett Jolly invited a company to return to the “Stock Day” podcast. “Unless you’ve been living under a rock, we’re going to talk about maybe one of the biggest infringements in the country. We’re talking about they’ve got an infringement against Comcast. The Company that we’re talking about today is WhereverTV Broadcasting Corp. and they were on our show back in April.”

With us today is the CEO, Edward Ciofani. “Ed, welcome to the show!”

Ciofani, “Everett, thanks for having me again! It’s always a pleasure!”

Jolly, “I read your press release and I was floored! You’re going to have to bring me up-to-date with what’s going on with this Comcast patent infringement filing. What’s going on?”

Ciofani was approached in early 2015 to take over the Company, but he didn’t know anything about patent infringement. So, he wanted to do some research before moving forward and hired a top law firm for that purpose. Their final report indicated that they felt the patent was defendable. He said basically, “The bigger the Goliath, the tougher the fight’s going to be and the more credible representation they’ll bring. Meaning if we are successful in defending our patent rights against a great company like Comcast, then other major companies we feel are infringing will take that into consideration when we ultimately enforce our patent rights with them.”

Ciofani said he was also intrigued by the OTC market platform and what the Company brought to it and what it was doing to the industry. It’s not very often that you have the opportunity to be part of a new and up-and-coming industry that has the explosive growth potential.

His first steps were to get the Company organized with a Board of Directors and then to redevelop the platform. It has also taken some time to get everything in place for the website concerning software compatibility issues with the front- and back-ends. After all that, everyone agreed it was time to defend the Company’s biggest asset, which was the patent.

Ciofani surmised that if they spend money to defend this patent against Comcast and their patent rights are validated, then other similar companies will recognize the value and merits of this patent case. This means that the Company will have a limit on the amount of money needed to spend on potential similar future legal issues.

There are several parts to this patent and they feel very confident in the research they have completed in this area.

Jolly continued, “Let’s change gears here and talk about the nuts and bolts of the Company. You’ve got the music division. Where are we on that prospect?”

Ciofani believes this is one of the most exciting divisions of the Company. They have a studio located in Nashville, Tennessee and they’ve hired a top team to do the branding and content creation. They’ve signed several award-winning, multi #1 hit producing artists to date and are in conversations with other award-winning, multi-platinum country music recording artists. The biggest challenge for artists that aren’t in or on the mainstream radio playlist is lack of relevancy which leads to a major problem in that some of these artists don’t have the distribution outlets. What WhereverTV hopes to do is “give artists a whole new platform and distribution point whereby it’s not just audio. It’s audio and video and getting up close and personal with these artists in our studios. . .All these artists have a fan base, what we call a super fan base.” Those are the fans WhereverTV is going after, not just in the United States but worldwide. These artists will be producing content from in studio talk and music shows to recording studio content and outside personal interest content. Collin Raye has already aired his first show titled “That’s My Story.”

“What’s going on down in Latin America?” Jolly asked.

The Company has been growing that organically and in January 2018, they got approximately 27,000 people signed on for trial subscriptions. Ciofani said they’re at about a 7% conversion right now. They just got authorization to add some new channels to their platform. So, Latin America is starting to see the value of what WhereverTV is adding to live-streaming and the Company is really excited about where that’s going. They’re also starting some new Google and other digital social media display advertising that is going very well. Their recent click-through rates were almost 20% and conversion rates into action were almost 12%. These are almost unheard of numbers in the industry.

Jolly concluded by telling listeners to check out WhereverTV and invited CEO Ciofani to come back before the end of the year for another update.

For more information about the Company’s financial details, listen to the full interview at the link below:

https://upticknewswire.com/featured-interview-ceo-edward-ciofani-of-wherevertv-broadcasting-corp-otcqb-tvtv-3/

About TVTV:
Founded in 2006, WhereverTV is the next generation subscription television service providing consumers with live-streaming, genre-specific, and in-language viewing choices from around the world, delivered to anywhere in the world, and through any internet enabled device. Many of our channels are the same as those broadcast by traditional cable and satellite platforms, with the only difference being that WhereverTV’s channels are broadcast securely over the internet, and channel management is handled by the company’s patented Interactive Program Guide (IPG) technology.

WhereverTV delivery platform is based on the over-the-top (OTT) service. The Company's platform broadcasts linear television programming across the public internet to connected televisions, Blu-ray players, set top boxes, tablet PCs, laptops, and smartphones. The WhereverTV platform manages broadcast rights across geographies and provides individual customer viewing experiences based on customer locations (geo-targeting) and content-rights management (subscriptions).

Contact:
WhereverTV
11390 Palm Beach Blvd.
Suite #302
Fort Myers FL 33905
1-855-943-7383
https://wherever.tv/
support@wherever.tv

Safe Harbor Act and Forward-Looking Statements:
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

About Uptick Newswire and the “Stock Day” Podcast:
Founded in 2013, Uptick Newswire is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Uptick provides companies with customized solutions to their news distribution in both national and international media outlets. Uptick is the sole producer of its “Stock Day” Podcast, which is the number one radio show of its kind in America. The Uptick Network “Stock Day” Podcast is an extension of Uptick Newswire, which recently launched its Video Interview Studio located in Phoenix, Arizona.

Investors Hangout is a proud sponsor of “Stock Day,” and Uptick Newswire encourages listeners to visit the company’s message board at https://investorshangout.com/

SOURCE:
Uptick Newswire
https://upticknewswire.com/

Tom Clancy’s Jack Ryan Will Launch Globally on Amazon Prime Video in Dolby Atmos and Dolby Vision

Wed, 15/08/2018 - 18:00

Dolby Atmos now joins Dolby Vision on Prime Video

SAN FRANCISCO, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Dolby Laboratories, Inc. (NYSE:DLB) and Amazon (NYSE:AMZN) announced today that Tom Clancy’s Jack Ryan will be available on Prime Video in both Dolby Atmos® and Dolby Vision™ HDR starting August 31. This Prime Original series brings the complete Dolby audio and visual experience to Prime members.

Consumers will be able to enjoy Dolby Atmos with Tom Clancy’s Jack Ryan on Fire TV and Fire TV Cube in addition to a variety of other compatible devices including TVs, sound bars, and home theater systems. The combined Dolby Atmos and Dolby Vision experience will initially be available on certain Dolby Vision TVs and Dolby Atmos enabled audio devices.

“Dolby enables spectacular audio and visual experiences that take your favorite entertainment to the next level,” said John Couling, Senior Vice President, Commercial Partnerships, Dolby Laboratories. “Through our growing work with Amazon, we can now bring more lifelike experiences to Prime members.”

“Amazon is committed to delivering immersive and compelling content to our Prime Video members around the world,” said Greg Hart, Vice President of Prime Video. “Dolby Atmos and Dolby Vision will enhance the action-packed scenes in Tom Clancy’s Jack Ryan and make viewers feel like they are at the center of the story.”

Dolby Atmos puts you inside the action with bigger, more encompassing sound that fills the room – even overhead – to immerse you in the entertainment. The sounds of people, places, things, and music come alive with breathtaking realism and move throughout the space.

Dolby Vision transforms your viewing experience with ultra-vivid picture quality. When compared to a standard picture, Dolby Vision can deliver colors never seen before on a screen, incredible contrast, highlights that are up to 40 times brighter, and blacks that are 10 times darker. Together, lifelike images and sound leap from the screen to make entertainment experiences truly spectacular.

About Dolby Laboratories
Dolby Laboratories (NYSE: DLB) is based in San Francisco with offices in over 20 countries around the globe. Dolby transforms the science of sight and sound into spectacular experiences. Through innovative research and engineering, we create breakthrough experiences for billions of people worldwide through a collaborative ecosystem spanning artists, businesses, and consumers. The experiences people have – in Dolby Vision, Dolby Atmos, Dolby Cinema, Dolby Voice, and Dolby Audio – revolutionize entertainment and communications at the cinema, on the go, in the home, and at work.

Dolby, Dolby Atmos, Dolby Audio, Dolby Cinema, Dolby Vision, Dolby Voice, and the double-D symbol are among the registered and unregistered trademarks of Dolby Laboratories, Inc. in the Unites States and/or other countries. Other trademarks remain the property of their respective owners. DLB-G

Media Contact:
Cairon (Jamie) Armstrong
Dolby Laboratories
+1-415-558-0751
Cairon.Armstrong@Dolby.com

 

Max Sound Corporation Midyear Shareholder Update

Wed, 15/08/2018 - 03:00

SAN DIEGO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Max Sound Corporation’s (MAXD) CEO provides the following update to its shareholders.  

Dear MAXD Shareholders,

I want to thank each of you for your continual support as we strive towards finally achieving the sales and share value that we feel will be in our sites before the end of 2018.

STOCK MANIPULATION FROM ILLEGAL NAKED SHORT SELLING

Earlier this summer Max Sound Corp. engaged a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance to examine substantial short selling of its stock. The results were shocking and disturbing: “Max Sound Corporation (MAXD) has and is being victimized by Manipulative Trading Practices and Abusive Naked Short Selling for the past three years with the culprit’s objective to lower the price and harm the Company,” said John Blaisure – CEO, Max Sound Corp.

“We asked the SEC and FINRA to act on MAXD’s complaints and accelerate their investigations on the five major Market Makers, which are performing these illegal naked short selling activities, share counterfeiting and failing to deliver shares,” added Mr. Blaisure. “For anyone who doubts the reality of Naked Short Selling as a way that these market makers steal around 70 billion dollars a year of real equity from American middle class and blue collar investors who believe in the Small American Business Microcaps they are the primary investors of, here is a letter the Company received on July 23, 2018 along with a 198 page published report from the first court recognized expert on the subject of Naked Short Selling – Attorney Wes Christian of Christian Smith and Jewel.”

“Several months ago I was hired as a “Naked Short Selling Expert” for a particular case in Federal Court of the Southern District of Florida (the “Case”). In the Case, which was tried before the court last week, I opined that: a) 40 to 70 percent of the daily trading volume (from Sept 2007 to Sept 2008) were counterfeit shares in the form of fails to deliver; and b) there were another 45 million shares in “hidden fails”, which were revealed by virtue of a new Cusip number assigned to the “replacement shares” issued after a 4500 to 1 reverse split. This reverse split required to redeem your physical share(s) with the old Cusip number for a new share(s) with a different Cusip number. The final conclusion I reached was that there were 100 million counterfeit shares sold when the total shares issued by the company were only 65 million. The SEC and the DOJ filed NO REBUTTAL TO MY REPORT. In fact, they accepted my report into evidence and told another lawyer from Kravath (after both sides rested) that they did not rebutt anything because they were TERRIFIED OF ME AND MY FINDINGS. This is, to my knowledge, the first time: 1) a court has accepted anyone as a naked short selling expert; and 2) allowed such report (and my rebuttal report) to be put into evidence. This is important to all of us litigating in this space, as we now have a precedent for this. In addition, the revelation of the level of counterfeit shares was compelling. I have enclosed my report and all exhibits for your review. Please note the number of sanctions and fines against wall street which single spaced is 25 pages, the vast majority of which is for mis-marking tickets long when they are short, not borrowing shares, and failing to deliver etc.

MAXD’s Market Makers are Knight/Virtu (NITE), Cantor Fitzgerald (CANT), Canaccord Genuity (CSTI), Citadel (CDEL) and eTrade/G1 (ETRF).

Many of our investors have been following and asking about the Naked Short Selling that has been happening to their various penny stocks (including MAXD) and are interested in knowing more about stock manipulation and the corresponding SEC and FINRA-filed complaints. Again today, in conjunction with release, we have filed our third set of complaints with the SEC and FINRA and are requesting once more that they enforce the law that is there for them and requires them to stop this activity.

“Since MAXD filed complaints with the country’s top regulatory bodies, these same bad actors have continued their all-out assault on the Company’s stock, but we are confident that either a short squeeze, or FINRA and/or SEC intervention is eminent to eliminate this blatant theft of our shareholder’s equity” continued Mr. Blaisure. “We estimate that there are currently 22 billion shares short which is about 4 times the number of shares issued and outstanding. We believe there will soon be significant buy-ins so it will be interesting to see if any of the 5 market makers blinks first. Technically, there are only enough shares for one of the market makers to financially survive the short squeeze we are working on.”

To learn more here is a primer on the subject:

http://counterfeitingstock.com/CounterfeitingStock.html and here is a powerful article put into actual practice https://theintercept.com/series/penny-stock-chronicles/

HD AUDIO TECHNOLOGY AND LICENSING

Late last year I had a tremendously positive trip to China and met with industry leaders at the Hong Kong Summit trip. The opportunity to port onto an enormous mobile chipset market with MAX-D Voice became evident and we are significantly far along in the completion of the development phase.

During the first and second quarters of 2018, at the request of several large OEMs, the Company conducted Audio Lab tests to greatly improve cellular voice calls with our improved technology and it is finally becoming clear to many Mobile Phone OEMs that the demand for a higher quality, clearer phone call is very important to consumers.

MAXD LITIGATIONS

Since 2014, most of you have been following the ongoing ups-and-downs of our litigation battles with Google. The first battle related to the Optimized Data Transmission patents, including U.S. Patent …339, sometimes labeled “David vs. Googleiath” was where Google sent back a road-map of the technology theft on yellow Post It notes, and the second was the Attia litigation, including the Court-granted leave to amend the complaint to add causes of action against defendants for civil violations of the federal Racketeer Influenced and Corrupt Organizations Act (commonly known as RICO).

The 339 Patent matter for Optimized Video Data Transmission is up for Appeal this fall and the positive outcome there will substantially affect our financial success going forward.

“In the Attia matter, the Fifth Amended Complaint was just filed along with Attia’s Stipulation for Entry of Order of Dismissal,” said Mr. Blaisure. “This allows the State Case for Trade Secret Theft and Misappropriation to go back to the State Court at the present time, and the RICO case to go to the Appeals Court where we will get a fair hearing, instead of the Court in Google’s backyard where the court nearly always rules in their favor regardless of right or wrong. We know we have a good likelihood of success associated with these lawsuits and continue to fight on towards either a beneficial settlement or a court ordered verdict. Both cases are on a contingency and there is a third party litigation funder looking to cover the costs going forward. In either case, MAX-D has dramatically lowered its costs going forward so our upside has been improved while substantially eliminating our future cost risk to get to the finish line.”

THE COALITION AGAINST GOOGLE

In response to the overwhelming number of requests from various individuals and small businesses harmed by the internet giant, last year Max Sound committed to lead THE COALITION AGAINST GOOGLE. Since that announcement, many victims have come forward and joined this coalition. Our team has been working daily, compiling an ever-growing database of Google victims and released, “The Catalog of Google Crimes”. You can visit http://GoogleCrimes.org and download this Catalog. The site also allows anyone to add their stories to the Catalog by using the submission page and lastly, you can delete Google and all of its products from your life permanently by following the step-by-step supplement at http://GoogleCrimes.org/take-back-your-privacy. “We have been informed that in addition to the nearly 8 billion dollars of fines since last year against Google for Anti-trust violations that there are many other potential damages of that magnitude or greater that Google will potentially face down the road,” continued Mr. Blaisure.

COMPANY DEBT

As you can imagine, running a Company that is simultaneously developing and deploying its core technology, fighting Google while dealing with naked short sellers who are also RegSHO violators takes a lot of resources. We are truly grateful to our strong shareholder base that continues to buy stock even as it gets sold short with counterfeit shares by market makers. We also are grateful that our convertible debt notes were recently bought out by an investor friendly to the Company, which we expect will soon help with the stock price and dilution.

OTHER AREAS OF PROGRESS AND COMPANY ASSETS

Last June, the United States Patent and Trademark Office issued patent 9,679,427 on MAXD IP for Biometric Audio Security. A great deal of interest was generated at the Hong Kong Asia Summit and we will continue to seek license opportunity discussions with these interested companies in 2018. The Company has been granted the following registered trademarks: Max Sound®, MAXD® and MAX-D Audio Perfected® and HD Audio®.

The MAX-D API (Application Programming Interface) allows the MAX-D algorithm to be inserted into applications such as streaming services, auto head units, DSP memory in chips and speakers, developer platforms and web-based applications. Our MAX-D HD Audio App is used and enjoyed by a user base of well over 500,000 subscribers and MAX-D continues to play a role in the hearing health initiatives of our youth and is working towards reversing this silent epidemic. A few years ago we announced the successful results of a University of Florida study demonstrating MAX-D’s hearing health benefits, and our Chairman met with leaders in Washington DC from the Congressional Hearing Health Caucus and the National Institute of Health.

ONWARD TO SUCCESS

We continue to strive and move forward with our technologies and litigations while at the same time minimizing debt and dilution as much as possible. While nothing has moved nearly as fast as we had all hoped, with the progress we’ve made we are more optimistic than ever that success through major brand recognition and revenue is imminent in 2018.

Thank you sincerely for taking up your valuable time to go over this with us and for your continued support.

Very truly yours,
John Blaisure - CEO
Max Sound Corporation

ABOUT MAX SOUND COROPORATION
MAX-D is to audio what HD (High Definition) is to video. The MAX-D® Audio Process makes everything sound better and can convert any audio file to high definition quality while significantly reducing the file size. Visit us www.maxd.audio Max Sound® and MAX-D® are Registered Trademarks and Patent Pending technologies wholly owned by Max Sound Corporation. All other trademarks are the property of their respective owners.

ABOUT MAX-D HD AUDIO TECHNOLOGY
The MAX-D HD Audio Technology is currently delivering Clean, High Definition Audio without increasing file size - fitting life-like HD Audio into our existing gigantic ever-growing compressed audio eco-system. We believe that we are nearing additional licensing adoption with a number of companies interested in the cost savings provided by MAX-D as we reduce data streaming costs while providing a higher quality HD Audio experience. In parallel to providing reduce data streaming costs, we also provide additional savings to potential licensors by delivering a nearly seamless low cost changeover. The MAX-D Technology can now be added quickly and economically to any industry or audio platform, as there is no need for bigger pipes, bigger servers, new consumer appliances, or higher data costs (which would be rejected by today’s cost-conscious consumers and data providers). Although smaller file sizes and cost savings are beginning to captivate companies who are looking closely at their bottom-lines. The average consumer is interested in the CLEAN HD SOUND! Whether your music is streamed with MAX-D or voice is processed with MAX-D - MAX-D HD Audio Simply Sounds Better. Consumers agree that MAX-D MP3 files sound incredible (yet remains one-tenth the size of a .wav file). MAX-D provides more clarity, dimension, articulation and impact in every range of the audio spectrum while random artifacts and harshness are gone.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Statements in this press release which are not purely historical, including statements regarding Max Sound's intentions, beliefs, expectations, representations, projections, plans or strategies regarding the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow or adequacy of capital resources, market acceptance risks, technical development risks, and other risk factors. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Max Sound disclaims any obligation and does not undertake to update or revise any forward-looking statements in this press release. Expanded and historical information is made available to the public by Max Sound Corporation and its Affiliates on its website www.maxd.audio or at www.sec.gov

SOURCE: Max Sound Corporation
Phone: 800-327-MAXD
Email: info@maxsound.com 

Cinedigm Announces First Quarter Fiscal 2019 Financial Results

Wed, 15/08/2018 - 01:35

Content & Entertainment Business Revenues Up 9% and Adjusted EBITDA up 31%

LOS ANGELES, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Cinedigm Corp. (NASDAQ: CIDM) today announced financial results for the first quarter fiscal 2019, which ended June 30, 2018.

Key Financial and Operating Results:

  • Consolidated revenues were $13.1 million, down 14% due to the expected decline in the legacy cinema equipment business where revenues were down 27%, partially offset by Content & Entertainment revenues that were up 9% to $6.0 million
  • Content & Entertainment Adjusted EBITDA was up 31% versus the prior year
  • Net loss to common stockholders was $3.4 million, an improvement of 35% versus the prior year quarter
  • The Company closed a multi-year, multi-title content distribution agreement with Nelvana, Canada’s premier animation company and a leading global producer of children’s content.  The agreement includes DVD and transactional digital content for the associated Nelvana library and includes over 3,000 television episodes with premium worldwide brands such as Franklin, Babar and Beyblade
  • During the quarter, Cinedigm announced partnerships to launch three new OTT channel networks including Gatherer, a lifestyle channel for women 35 years and older, Hallypop, a channel celebrating Asian pop music and culture, and Combat GO, a global mixed martial arts channel. In total, the Company now has nine OTT streaming channels either launched or announced
  • Sales momentum continued to build during the quarter with DVD/BluRay billings up 65% and digital billings up 30% versus last year. Those results will be reflected in future quarters as well as the current period. Total OTT streaming revenues (1) for the quarter were $2.2 million
  • The Company launched streaming channels on the Dish Network’s Sling TV service during the quarter, as well as the key Xumo platform
  • Total OTT app installs reached 5.4 million, up 23%
  • OTT subscribers exceeded 91,000, up 7%
  • Total digital transactions across Cinedigm’s OTT footprint reached 713,000, up 6%
  • The Company’s OTT/digital platform partner footprint increased to 95 partners, up 19%, driven by the signing of key distribution deals with a market-leading OEM manufacturer, two of the top five ad-supported platforms, and a top-three Multi Channel Video Programming Distributor (MVPD).
  • Total device reach to mobile phones, smart televisions and other connected devices increased by 19 million to 435 million
  • Total digital content deliveries to partners across the OTT ecosystem included 2,619 films and television episodes, up 74%

“This was a strong quarter, particularly for our content and entertainment business,” said Chris McGurk, Chairman and CEO. “We made significant progress in our streaming OTT segment, where we uniquely generate sales through four revenue streams: subscription fees, advertising, servicing retainers and content distribution fees, whereas most of our competitors are dependent on only a single source of those OTT revenues. In addition to our new OTT channel launches, we closed several significant new deals with key streaming platforms that should generate significant high margin revenues in future quarters. We are encouraged by our progress as we continue to lead the way in this huge, fast-growing, high margin segment with a differentiated OTT business model.”

Mr. McGurk added, “With respect to China, we participated at the Beijing International Film Festival, with three industry presentations that received comprehensive press coverage across China. During the festival, we also announced six new Chinese entertainment partnerships that will generate digital, OTT and film distribution revenue. We continue to develop content supply relationships in China for our Chinese language OTT channel, which we expect to launch in our fiscal fourth quarter.”

Jeffrey Edell, Chief Financial Officer, added, “Despite the first fiscal quarter being a seasonally slow period for our business, our results clearly illustrate the progress we are making in the transformation of our business with Content & Entertainment revenues up 9% and Adjusted EBITDA up 31%. Our cost management efforts and implementation of operational efficiencies continue to show results, helping us move toward sustainable profitability. With more access to additional capital as needed, we have the capacity to support our growth agenda and extend our position in the OTT space. In addition, we are very pleased to have reduced total debt, excluding our revolving credit facility, by another $8.3 million during the quarter. Over the last 12 months, we have reduced total debt by $72.4 million.”

Financial Summary

Revenue

Revenue for the three months ended June 30, 2018 was $13.1 million, compared to $15.2 million for the year ago period. This decrease was primarily driven by lower deployment and services revenue derived from virtual print fees (“VPF”) which are earned when movies distributed by studios are displayed on screens utilizing the Company’s systems that are installed in movie theatres. The decrease was partially offset by a 9% increase in Content & Entertainment revenues. The Company continues to shift its strategy toward building a portfolio of revenue streams in the OTT business.

Direct Operating Expenses

Direct operating expenses for the first quarter of fiscal 2019 decreased by 15.8% to $3.4 million compared to $4.1 million for the year ago period. The decrease was primarily due to a reduction in content advance amortization in Cinedigm’s Content & Entertainment Business segment.

Selling, general and administrative expenses

Selling, general and administrative expenses increased slightly by $225,000, or 3.6%, to $6.5 million for the three months ended June 30, 2018 compared to $6.3 million for the three months ended June 30, 2017.

Interest expense, net

Net interest expense decreased by $1.3 million, or 33.3%, to $2.7 million for the three months ended June 30, 2018 compared to $4.0 million for the three months ended June 30, 2017. The decrease was primarily due to lower interest expense on a lower outstanding debt balance compared to the first quarter of fiscal 2018.

Net income / (loss)

For the three months ended June 30, 2018, the Company had a net loss of $3.3 million, and after giving effect to preferred stock dividends of $89,000, a net loss attributable to common stockholders of $3.4 million or ($0.09) per basic and diluted share based on a weighted average of 37.6 million shares outstanding. In comparison, for the three months ended June 30, 2017, the Company had a net loss of $5.2 million, and after giving effect to preferred stock dividends of $89,000, a net loss available to common stockholders of $5.2 million or ($0.48) per basic and diluted share based on a weighted average of 10.9 million shares outstanding.

Adjusted EBITDA

Adjusted EBITDA decreased by $2.2 million, or 41.5%, to $3.1 million for the three months ended June 30, 2018 compared to $5.4 million for the three months ended June 30, 2017. The decrease was primarily due to anticipated reduction in revenues for the legacy cinema equipment business which was partially offset by a 31% increase in the Company’s Content & Entertainment business.

Adjusted EBITDA is defined by the Company for the periods presented to be earnings before interest, taxes, depreciation and amortization, other income, net, goodwill impairment, litigation related expenses and recoveries, stock-based compensation, expenses, restructuring, transition and acquisitions expenses, net, and certain other items. Pursuant to the requirements of Regulation G, the Company has provided a reconciliation in the tables attached to this release of loss from continuing operations calculated in accordance with accounting principles generally accepted in the United States of America (“GAAP”) to Adjusted EBITDA. Adjusted EBITDA is not a measurement of financial performance under GAAP and may not be comparable to other similarly titled measures of other companies. The Company calculated and communicated Adjusted EBITDA in the tables because the Company's management believes it is of importance to investors and lenders by providing additional information with respect to the performance of its fundamental business activities. Management presents Adjusted EBITDA because it believes that Adjusted EBITDA is a useful supplement to net loss as an indicator of operating performance. Management also believes that Adjusted EBITDA is an industry-wide financial measure that is useful both to management and investors when evaluating the Company's performance and comparing our performance with the performance of our competitors. Management also uses adjusted EBITDA for planning purposes, as well as to evaluate the Company's performance because it believes that adjusted EBITDA more accurately reflects the Company's results, as it excludes certain items, such as stock-based compensation charges, that management believes are not indicative of the Company's operating performance. The Company believes that Adjusted EBITDA is a performance measure and not a liquidity measure. Adjusted EBITDA should not be considered as an alternative to operating or net loss as an indicator of performance or as an alternative to cash flows from operating activities as an indicator of cash flows, in each case as determined in accordance with GAAP, or as a measure of liquidity.  In addition, adjusted EBITDA does not take into account changes in certain assets and liabilities as well as interest and income taxes that can affect cash flows.  The Company's calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of net income (loss). In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities as well as interest and income taxes that can affect cash flows. Management does not intend the presentation of these non-GAAP measures to be considered in isolation or as a substitute for results prepared in accordance with GAAP. These non-GAAP measures should be read only in conjunction with the Company's consolidated financial statements prepared in accordance with GAAP.

(1) Total OTT revenues represent the sum of 4 distinct revenue streams: 1. Subscription fees; 2. Advertising and sponsorships; 3. Digital content distribution fees; and 4. Management, operational and technology service fees. OTT channel revenues represent the sum of two of those revenue streams, subscription fees and advertising and sponsorships.

Conference Call

Cinedigm will host a conference call to discuss its financial results at 1:30 p.m. PDT / 4:30 p.m. EDT on August 14, 2018. 

To participate in the conference call, please dial (877) 754-5303 or for international callers (678) 894-3030 at least five minutes prior to the start of the call. No passcode is required. An audio webcast of the call will be accessible at http://investor.cinedigm.com/events.cfm. To listen to the live webcast, please visit the site prior to the start of the call in order to register, download and install any necessary audio software.

For those unable to participate during the live broadcast, a replay will be available beginning August 14, 2018 at 7:30 p.m. EDT, through August 21, 2018 at 7:30 p.m. EDT. To access the replay, dial (855) 859-2056 (U.S.) or (404) 537-3406 (International) and use passcode: 5649017.

About Cinedigm                                                        

 

Cinedigm powers custom content solutions to the world’s largest retail, media and technology companies. We provide premium feature films and series to digital platforms including iTunes, Netflix, and Amazon, cable and satellite providers including Comcast, Dish Network and DirecTV, and major retailers including Walmart and Target. Leveraging Cinedigm’s unique capabilities, content and technology, the Company has emerged as a leader in the fast-growing over-the-top (OTT) channel business, with four channels under management that reach hundreds of millions of devices while also providing premium content and service expertise to the entire OTT ecosystem. Learn more about Cinedigm at www.cinedigm.com.

In November 2017, Bison Capital became the beneficial owner of the majority of Cinedigm’s outstanding Class A Common Stock. Bison Capital is a Hong Kong-based investment company with a focus on the media and entertainment, healthcare and financial service industries. Founded by Mr. Peixin Xu in 2014, Bison Capital has made multiple investments in film and TV production, film distribution and entertainment-related mobile Internet services.

Cinedigm is now working closely with Bison to develop plans and forge partnerships to release entertainment content and develop OTT channels in China while, reciprocally, releasing Chinese content and new OTT channels in North America.

Cinedigm™ and Cinedigm Digital Cinema Corp™ are trademarks of Cinedigm Corp. www.cinedigm.com. [CIDM-E]


Safe Harbor Statement

Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of Cinedigm officials during presentations about Cinedigm, along with Cinedigm's filings with the Securities and Exchange Commission, including Cinedigm's registration statements, quarterly reports on Form 10-Q and annual report on Form 10-K, are "forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act''). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects," "anticipates,'' "intends,'' "plans,'' "could," "might," "believes,'' "seeks," "estimates'' or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by Cinedigm's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about Cinedigm, its technology, economic and market factors and the industries in which Cinedigm does business, among other things. These statements are not guarantees of future performance and Cinedigm undertakes no specific obligation or intention to update these statements after the date of this release.


For more information:

Jill Newhouse Calcaterra
Cinedigm
jcalcaterra@cinedigm.com
310-466-5135

CINEDIGM CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except for share and per share data)

 June 30, 2018 March 31, 2018ASSETS(Unaudited)  Current assets   Cash and cash equivalents$17,820  $17,952 Accounts receivable, net32,996  38,128 Inventory, net641  792 Unbilled revenue3,808  6,799 Prepaid and other current assets9,081  10,497 Total current assets64,346  74,168 Restricted cash1,000  1,000 Property and equipment, net19,588  21,483 Intangible assets, net13,261  14,653 Goodwill8,701  8,701 Other long-term assets1,164  1,177 Total assets$108,060  $121,182 LIABILITIES AND DEFICIT   Current liabilities   Accounts payable and accrued expenses$64,232  $69,225 Current portion of notes payable, including unamortized debt discount of $545 and $225 respectively25,155  4,775 Current portion of notes payable, non-recourse512  512 Current portion of deferred revenue1,603  1,821 Total current liabilities91,502  76,333 Notes payable, non-recourse, net of current portion and unamortized debt issuance costs and debt discounts of $1,982 and $2,140 respectively29,478  37,570 Notes payable, net of current portion and unamortized debt issuance costs and debt discounts of $2,401 and $3,352 respectively8,826  25,435 Deferred revenue, net of current portion3,471  3,842 Other long-term liabilities280  306 Total liabilities133,557  143,486 Stockholders’ deficit   Preferred stock, 15,000,000 shares authorized; Series A 10% - $0.001 par value per share; 20 shares authorized; and 7 shares issued and outstanding at June 30, 2018 and March 31, 2018, respectively Liquidation preference of $3,6483,559  3,559 Common stock, $0.001 par value; Class A stock 60,000,000 shares authorized at each of June 30, 2018 and March 31, 2018; 36,326,169 and 36,261,975 shares issued and 35,012,333 and 34,948,139 shares outstanding at June 30, 2018 and March 31, 2018, respectively35  35 Additional paid-in capital366,398  366,223 Treasury stock, at cost; 1,313,836 Class A common shares at June 30, 2018 and March 31, 2018(11,603) (11,603)Accumulated deficit(382,581) (379,225)Accumulated other comprehensive loss(34) (38)Total stockholders’ deficit of Cinedigm Corp.(24,226) (21,049)Deficit attributable to noncontrolling interest(1,271) (1,255)Total deficit(25,497) (22,304)Total liabilities and deficit$108,060  $121,182 


CINEDIGM CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except for share and per share data)

  Three Months
Ended June 30,
  2018 2017 Revenues$13,078  $15,240  Costs and expenses:    Direct operating (excludes depreciation and amortization shown below)3,425  4,066  Selling, general and administrative6,543  6,318  Provision for doubtful accounts65  —  Depreciation and amortization of property and equipment2,089  4,357  Amortization of intangible assets1,395  1,395  Total operating expenses13,517  16,136  Loss from operations(439) (896) Interest expense, net(2,695) (4,041) Other expense, net(10) (69) Change in fair value of interest rate derivatives—  40  Loss from operations before income taxes(3,144) (4,966) Income tax expense(139) (186) Net loss(3,283) (5,152) Net loss attributable to noncontrolling interest16  6  Net loss attributable to controlling interests(3,267) (5,146) Preferred stock dividends(89) (89) Net loss attributable to common stockholders$(3,356) $(5,235) Net loss per Class A and Class B common stock attributable to common stockholders -
  basic and diluted:      Net loss attributable to common stockholders$(0.09) $(0.48)   Weighted average number of Class A and Class B common stock outstanding:
  basic and diluted37,639,300  10,920,446  

Adjusted EBITDA

Following is the reconciliation of our consolidated net loss to Adjusted EBITDA:

   Three Months Ended June 30,($ in thousands) 2018 2017Net loss $(3,283) $(5,152)Add Back:    Income tax expense 139  186 Depreciation and amortization of property and equipment 2,089  4,357 Amortization of intangible assets 1,395  1,395 Interest expense, net 2,695  4,041 Other expense, net 10  269 Change in fair value of interest rate derivatives —  (40)Stock-based compensation and expenses 86  317 Net loss attributable to noncontrolling interest 16  6 Adjusted EBITDA $3,147  $5,379      Adjustments related to the Cinema Equipment Business    Depreciation and amortization of property and equipment $(1,960) $(4,201)Amortization of intangible assets (12) (11)  Income from operations (3,723) (4,345)Adjusted EBITDA from non-Cinema Equipment Business $(2,548) $(3,178)

Transactions in relation to share buyback program

Tue, 14/08/2018 - 16:54

Acting under its share buyback authorization, the GN Store Nord Board of Directors initiated a share buyback program on May 2, 2018, in accordance with article 5 of the regulation (EU) no. 596/2014 of 16 April 2014 on market abuse and the delegated regulation (EU) no. 2016/1052 of 8 March 2016, also referred to as the Safe Harbor rules (company announcement no. 15 of May 2, 2018).

The share buyback program has been initiated in order to reduce the company’s share capital and to cover obligations under the long-term incentive program. Under the share buyback program, which runs from May 2, 2018 and will end no later than March 14, 2019, GN intends to buy back shares for an amount of up to DKK 1,000 million.

The following transactions have been made under the program in the period August 7, 2018 – August 13, 2018:

 No. of sharesAverage purchase price, DKKTransaction Value, DKK  August 7, 201827,500315.718,682,146  August 8, 201820,000310.926,218,364  August 9, 201820,000308.496,169,720  August 10, 201800.000  August 13, 20187,620306.262,333,712Accumulated under the program1,467,193273.07400,651,529

Following the above transactions GN holds a total of 12,218,676 own shares corresponding to a nominal value of DKK 48,874,704 and 8.4% of the total share capital and the total voting rights in the company. Every Tuesday, GN will announce the number and value of repurchased shares in company announcements to Nasdaq Copenhagen.

For further information, please contact:

Investors and analysts
Peter Justesen
VP – Investor Relations & Treasury
Tel: +45 45 75 87 16

Or

Rune Sandager
Senior Investor Relations Manager
Tel: +45 45 75 92 57


Press and the media
Lars Otto Andersen-Lange
Group Media Manager
Tel: +45 45 75 02 55


About GN Group
The GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. With our unique competencies within medical, professional and consumer audio solutions, we transform lives through the power of sound: Hearing aids that enhance the lives of people with hearing loss; integrated headset and communications solutions that assist professionals in all types of businesses to be more productive; wireless headsets and earbuds designed to support calls, music and media consumption.

With world leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and Blueparrott in 100 countries across the world. Founded in 1869, the GN Group today has more than 5,500 employees and is listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter.

Attachments

Singing Machine Announces First Quarter 2019 Earnings Report

Tue, 14/08/2018 - 16:30

FORT LAUDERDALE, Fla., Aug. 14, 2018 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc.  (“Singing Machine” or the “Company”) (OTCQX:SMDM) – the North American leader in consumer karaoke products – today announced its financial results for its first quarter ended June 30, 2018.

First Quarter Snapshot:

  • Net sales of $1.8 million for the quarter ended June 30, 2018.
  • Gross margin of 21.3%.
  • Net loss of $1.0 million for the quarter.
  • Streaming music subscription sales increased 54% YoY.
  • Fees received from 3PL logistics services increased to $0.2 million for the quarter, an increase of 136% YoY.

Singing Machine reports net sales of approximately $1.8 million for the quarter-ended June 30, 2018 period. The decrease in net sales was primarily due to the bankruptcy of Toys ‘R’ Us which accounted for approximately $1.0 million in sales in the prior year same quarter. The Company also experienced a one-time unexpected factory closing during the first quarter which caused shipments of approximately $0.8 million to shift into the second quarter.  

Gross profit margin decreased by approximately 6.1% percent to 21.3% net sales compared to approximately 27.4% of net sales reported in the prior year. The decrease in gross margin was mainly due to a one-time expense related to moving products from one factory to new suppliers due to an unexpected supplier interruption.

Total operating expenses decreased to $1.7 million compared to $1.9 million in the prior year. The reduction in expenses was primarily due to a reduction in general and administrative expenses related to a decrease in bad debt reserve of approximately $0.14 million due to lower sales and accounts receivable.

As a result, the Company reported a net loss of $1.0 million compared to a net loss of $0.53 million in the prior year.

Management Commentary:

Gary Atkinson, Singing Machine CEO, commented, “Due to the bankruptcy and liquidation of Toys ‘R’ Us in March 2018, we experienced a first quarter slow down. We also experienced a disruption in our supply chain during the first quarter which caused a timing delay in shipments that were not able to be fulfilled in the first quarter. Those supply chain disruptions have since been resolved and those effected products are back in-stock. Despite the slow quarter and one-time market disruptions, we remain confident as the market leader in our category.  We believe the singing and music entertainment category is a growing market that is prime for international expansion.”

Earnings Call Information:

The Company will host a conference call today, Tuesday, August 14, beginning at 10:00 am Eastern time to discuss these results and answer questions. If you would like to participate on the call, please dial 866-831-8713 and use conference ID: SMDM.

An audio rebroadcast of the call will be available later in the day after the earnings call and can be heard at: www.singingmachine.com/investors.

About The Singing Machine

Based in the U.S., Singing Machine® is the North American leader in consumer karaoke products. The first to provide karaoke systems for home entertainment in the United States, the Company sells its products worldwide through major mass merchandisers and on-line retailers. We offer the industry's widest line of at-home karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology for singing practice, music listening, entertainment and social sharing. The Singing Machine provides consumers the best warranties in the industry and access to over 13,000 songs for streaming and download.  Singing Machine products are sold through most major retailers in North America and also internationally. See www.singingmachine.com for more details.

Investor Relations Contact:
Brendan Hopkins
(407) 645-5295
investors@singingmachine.com
www.singingmachine.com
www.singingmachine.com/investors

Forward-Looking Statements
This press release contains forward‑looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward‑looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2018.  You should review our risk factors in our SEC filings which are incorporated herein by reference.  Such forward‑looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward‑looking statement to reflect events or circumstances after the date of this release.

 

The Singing Machine Company, Inc. and Subsidiaries   CONDENSED CONSOLIDATED BALANCE SHEETS                 June 30, 2018  March 31, 2018   (Unaudited)    Assets   Current Assets      Cash $  117,767  $   813,908 Accounts receivable, net of allowances of $63,473 and       $82,102 respectively   1,213,105    1,066,839 Due from PNC Bank   -     6,212 Accounts receivable related party - Starlight Consumer Electronics USA, Inc.   7,054    7,054 Accounts receivable related party - Winglight Pacific, Ltd   293,651    1,150,104 Inventories, net   8,834,930    8,536,934 Prepaid expenses and other current assets   272,989    137,970 Deferred financing costs   13,333    13,333 Total Current Assets   10,752,829    11,732,354        Property and equipment, net   708,500    450,305 Deferred financing costs, net of current portion   13,333    16,667 Deferred tax assets    1,261,136    937,137 Other non-current assets   12,039    11,523 Total Assets$  12,747,837  $   13,147,986        Liabilities and Shareholders' Equity    Current Liabilities      Accounts payable$  1,687,655  $   1,614,748 Accrued expenses   765,035    701,932 Current portion of bank term note payable   625,000    500,000 Due to related party - Starlight Electronics Co., Ltd   306,480    210,756 Due to related party - Starlight R&D, Ltd.   112,359    113,116 Due to related party - Merrygain Holding Co., Ltd.   128,290    89,803 Revolving line of credit   1,089,822    -  Refunds due to customers   256,154    445,484 Reserve for sales returns   137,536    726,000 Current portion of capital leases   14,065    -  Current portion of subordinated related party debt - Starlight Marketing Development, Ltd.   815,367    689,792 Total Current Liabilities   5,937,763    5,091,631        Bank term note payable, net of current portion   -     125,000 Capital leases, net of current portion   27,167    -  Subordinated related party debt - Starlight Marketing Development, Ltd.,      net of current portion   -     125,575 Total Liabilities   5,964,930    5,342,206        Commitments and Contingencies             Shareholders' Equity       Preferred stock, $1.00 par value; 1,000,000 shares authorized; no       shares issued and outstanding   -     -  Common stock, Class A, $0.01 par value;  100,000 shares       authorized; no shares issued and outstanding   -     -  Common stock, Class B, $0.01 par value;  100,000,000 shares authorized;        8,282,028 shares issued and outstanding   382,820    382,820 Additional paid-in capital   19,635,341    19,624,063 Accumulated deficit   (13,235,254)   (12,201,103)Total Shareholders' Equity    6,782,907    7,805,780 Total Liabilities and Shareholders' Equity $  12,747,837  $   13,147,986        See notes to the condensed consolidated financial statements       

 

The Singing Machine Company, Inc. and Subsidiaries   CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  (Unaudited)               For the Three Months Ended  June 30, 2018  June 30, 2017             Net Sales$  1,836,511  $  3,939,733       Cost of Goods Sold  1,445,028    2,860,584       Gross Profit  391,483    1,079,149       Operating Expenses     Selling expenses446,700    463,747 General and administrative expenses1,208,644    1,359,231 Depreciation  67,571    43,213 Total Operating Expenses1,722,915    1,866,191       Loss from Operations(1,331,432)   (787,042)      Other Expenses     Interest expense(23,385)   (283)Finance costs(3,334)   (21,606)Total Other Expenses(26,719)   (21,889)      Loss Before Income Tax Benefit(1,358,151)   (808,931)      Income Tax Benefit324,000    281,921       Net Loss$  (1,034,151) $  (527,010)      Loss per Common Share     Basic and Diluted$  (0.03) $  (0.01)      Weighted Average Common and Common      Equivalent Shares:     Basic and Diluted38,282,028    38,259,303       See notes to the condensed consolidated financial statements        

 

The Singing Machine Company, Inc. and Subsidiaries   CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  (Unaudited)      For the Three Months Ended   June 30, 2018  June 30, 2017             Cash flows from operating activities     Net Loss$  (1,034,151) $  (527,010)Adjustments to reconcile net loss to net cash used in operating activities:     Depreciation   67,571    43,213 Amortization of deferred financing costs  3,334    21,606 Change in inventory reserve   (81,780)   (375,000)Change in allowance for bad debts  (18,629)   (6,028)Stock based compensation  11,278    55,237 Change in net deferred tax assets  (323,999)   (283,126)Changes in operating assets and liabilities:     Accounts receivable  (127,637)   (1,100,703)Due from PNC Bank  6,212    242,859 Accounts receivable - related parties  856,453    (557,647)Inventories  (216,216)   (2,651,450)Prepaid expenses and other current assets  (135,019)   (316,343)Other non-current assets  (516)   -  Accounts payable   72,907    3,140,580 Accrued expenses  63,103    99,956 Due to related parties  133,454    149,787 Refunds due to customers  (189,330)   69,715 Reserve for sales returns  (588,464)   (338,791)Net cash used in operating activities  (1,501,429)   (2,333,145)Cash flows from investing activities     Purchase of property and equipment  (282,240)   (185,336)Net cash used in investing activities  (282,240)   (185,336)Cash flows from financing activities     Net proceeds from revolving  line of credit   1,089,822    683,986 Net proceeds from bank term note  -     1,000,000 Payment of deferred financing costs  -     (40,000)Payment on subordinated debt - related party  -     (1,000,000)Payments on capital leases  (2,294)   -  Net cash provided by financing activities  1,087,528    643,986 Net change in cash   (696,141)   (1,874,495)      Cash at beginning of period  813,908    2,305,439 Cash at end of period$  117,767  $  430,944       Supplemental disclosures of cash flow information:     Cash paid for interest$  9,995  $  283 Cash paid for income taxes$ -   $  30,000 Equipment purchased under capital lease$  43,526  $-        See notes to the condensed consolidated financial statements        

Singing Machine to Announce its Financial Results for the First Quarter Fiscal 2019

Fri, 10/08/2018 - 18:30

Fort Lauderdale, FL, Aug. 10, 2018 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc.  (“Singing Machine” or the “Company”) (OTCQX: SMDM) -- the North American leader in consumer karaoke products -- today announced that its earnings for its first quarter ended June 30, 2018 will be released the morning of Tuesday, August 14, 2018. That same day, Management will host a conference call at 10:00 am Eastern time to discuss the financial results and provide a business update.  

Conference Call Details:

Date: Tuesday, August 14, 2018

Time: 10 a.m. ET

Dial-in number: (866) 831-8713

Conference ID: SMDM  

An audio rebroadcast of the call will be available later in the day at: http://www.singingmachine.com/investors

About The Singing Machine

Singing Machine® is the worldwide leader in consumer karaoke products.  The first to provide karaoke systems for home entertainment in the United States, the Company sells its products world-wide through major mass merchandisers and on-line retailers. We offer the industry's widest line of at-home karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology for singing practice, music listening, entertainment and social sharing. The Singing Machine provides consumers the best warranties in the industry and access to over 13,000 songs for streaming and download.  Singing Machine products are sold through most major retailers in North America and also internationally. See www.singingmachine.com for more details.

Investor Relations Contact:

Brendan Hopkins

(407) 645-5295

investors@singingmachine.com

www.singingmachine.com

www.singingmachine.com/investors

Forward-Looking Statements

This press release contains forward‑looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward‑looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2018.  You should review our risk factors in our SEC filings which are incorporated herein by reference.  Such forward‑looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward‑looking statement to reflect events or circumstances after the date of this release.

Get your Samsung Galaxy Note9 on Verizon and unlock unlimited creativity on the nation’s best network

Thu, 09/08/2018 - 21:30

NEW YORK, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Verizon is your destination for the Samsung Galaxy Note9 — the next-generation Galaxy smartphone designed to inspire, create and entertain. Available for preorder starting tomorrow, August 10, the Samsung Galaxy Note9 gives you the ultimate in speed and reliability when paired with Verizon’s 4G LTE. For a limited time, if you buy a 128 GB Galaxy Note9, get a free 128 GB Galaxy Note9, Galaxy S9 or S9+*.  Both devices require purchase on the Verizon device payment plan and one new line of service.    

Samsung is giving you more of what you love with the Galaxy Note9 by updating its groundbreaking S Pen, improving an already great camera and adding a powerful processor, stereo speakers and bigger screen. The Galaxy Note9 checks the boxes for everyone – be it the on-the-go business person, the entertainment connoisseur binging his or her favorite shows or the talented creator looking to make the next YouTube hit.

A mightier S Pen.

The Galaxy Note series is synonymous with the S Pen — a perfectly weighted stylus that allows you to easily write memos, doodle and navigate the phone. This year, Samsung sets the bar higher with the most advanced S Pen, now with Bluetooth Low-Energy connectivity, for a richer, hands-free experience by adding remote-control capabilities, allowing you to control your camera lens, switch PowerPoint slides, change music tracks and more with the click of your Pen.

Shoot for perfection.

For the photographer, videographer and creator, Galaxy Note9 builds upon Samsung’s legacy of building brilliant cameras. It takes photos in any light using a Dual-Aperture lens that adjusts like the human eye**. Also, the Scene Optimizer and Flaw Detection features instantly optimize photos to highlight what you’re shooting, and it catches blinks, lens smudges and image blur before you click the shutter.

Ultimate entertainment.

The Galaxy Note9 was made for everyone that loves entertainment. Its 6.4” Super AMOLED Infinity display is the largest screen on any Galaxy smartphone, giving you more than enough room to binge your favorite videos over America’s largest and most reliable 4G LTE network. Not to be outdone, this is the first Galaxy Note to feature stereo speakers for a more immersive experience. The Galaxy Note9 blankets gamers, audiophiles and movie fans in sound thanks to four speakers tuned by AKG and immersive audio and support for Dolby Atmos®. And with a large, 4000 mAh battery, you can be sure that your phone will keep up, no matter how much you stream***.

More additions to the Samsung Galaxy family.

Verizon will also carry a lineup of new accessories for the Galaxy Note9, including the new Samsung Galaxy Watch. Additionally, two wireless chargers will be available soon – Samsung Wireless Charging Duo to conveniently charge multiple devices on one charger, and the Samsung Wireless Charger Pad with a built in fan and vents for more efficient Fast Charging. A variety of fashionable and protective phone cases will also be available from OtterBox, Tech21, Incipio, Speck, kate spade new york, Lifeproof, Case-Mate and others.

In addition to the Galaxy Note9, Verizon will also carry two new tablets beginning August 10, so you can get the tech you want on the network you deserve:

  • Samsung Galaxy Tab S4: Samsung updated its flagship tablet with a 10.5” widescreen display, S Pen capabilities, enhanced surround sound speakers, a long-lasting battery and 13mp rear and 5mp front-facing cameras. The Galaxy Tab S4 will be $30.41 a month for 24 months on Verizon device payment ($729.99 retail; 0% APR).
  • Samsung Galaxy Tab A (8”): Samsung’s budget-friendly 8” tablet is perfect as a second-screen for your office, a safe and engaging learning tool for your kids and a comfortable, lightweight tablet for watching movies in bed or on the go. The Galaxy Tab A (8”) will be $10.41 a month for 24 months on Verizon device payment ($249.99 retail; 0% APR).

Promos and availability.

Get the most out of your Samsung Galaxy Note9 with Verizon, the nation's largest and most reliable 4G LTE network. In addition to the buy one get one deal, Verizon is also offering a bonus reward of $10 off Samsung accessories for Verizon Up members with an active Samsung smartphone on their account. Finally, if you preorder a Samsung Galaxy Note9 through August 23 Samsung is offering your choice of a pair of AKG noise-cancelling headphones ($299 retail value) or the unique Fortnite Galaxy skin with 15,000 V-bucks ($150 retail value), for free—or get both for $99****.

The Samsung Galaxy Note9 will be available for preorder on Verizon on 8/10 in Ocean Blue and Lavender Purple. The 128 GB model will be $41.66 a month for 24 months on Verizon device payment ($999.99 retail; 0% APR) and the 512 GB model will be $52.08 a month for 24 months on Verizon device payment ($1,249.99 retail; 0% APR).For more information about the Samsung Galaxy Note9, visit verizonwireless.com/smartphones/samsung-galaxy-note-9/.

*Up to $999.99 device payment purchase req’d per phone. 2nd phone of equal or lesser value: Less up to $999.99 promo credit applied to account over 24 mos. w/in 1-2 billing cycles; promo credit ends when balance paid or line terminated/transferred; 0% APR.  New line of service req’d.

**The Dual Aperture supports F1.5 mode and F2.4 mode. Dual Aperture is installed on the rear wide-camera.

***Based on average battery life under typical usage conditions. Average expected performance based on typical use. Actual battery life depends on factors such as network, features selected, frequency of calls, and voice, data, and other application-usage patterns. Results may vary.

****From 8/10/18 – 8/23/18 (“Purchase Period”), purchase a Samsung Galaxy Note9 phone on a device plan, 2-year contract plan, lease, or outright purchase at full retail price (“Qualifying Purchase”) and choose 1) a pair of AKG noise cancellation headphones (est. value $299); 2) a “Game Bundle” (est. value $150); or 3) a “Bundle” that includes both AKG noise cancellation headphones and the Game Bundle for $99 (est. value $449) (each a “Gift”). Only available while supplies last. By 9/13/18, using your Qualifying Purchase device, follow instructions on the Shop Samsung app (“App”) to submit required info and choose Gift. Gifts mailed apprx 6-8 weeks after verification of Qualifying Purchase. Visit www.samsung.com/us/promotions for more information. While supplies last.

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York City, generated $126 billion in 2017 revenues. The company operates America’s most reliable wireless network and the nation’s premier all-fiber network, and delivers integrated solutions to businesses worldwide. Its Oath subsidiary reaches people around the world with a dynamic house of media and technology brands.

VERIZON'S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at www.verizon.com/about/news/. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
George L. Koroneos
908.559.3545
george.koroneos@verizon.com
Twitter: @glkcreative

 

Stingray Announces Election of Directors

Thu, 09/08/2018 - 02:14

MONTREAL, Aug. 08, 2018 (GLOBE NEWSWIRE) -- In accordance with the TSX Company Manual, Stingray Digital Group Inc. (TSX:RAY.A) (TSX:RAY.B) (the “Corporation”) is issuing this news release to disclose the voting results for the election of directors at its Annual and Special Meeting of Shareholders held earlier today in Montreal.

Each of the following nine (9) nominees proposed by the Corporation was duly elected as director of the Corporation by the shareholders present or represented by proxy at the meeting. The results of the vote are as follows:

 ForWithheld Number%Number%Claudine Blondin191,446,81099.91%168,5970.09%Eric Boyko191,611,98799.99%3,4200.01%Jacques Parisien191,449,03399.91%166,3740.09%Mark Pathy191,444,90799.91%170,5000.09%David Purdy191,434,42799.91%180,9800.09%Gary S. Rich191,444,90799.91%170,5000.09%François-Charles Sirois191,447,78399.91%167,6240.09%Robert G. Steele191,434,42799.91%180,9800.09%Pascal Tremblay191,435,45399.91%179,9540.09%

About Stingray

Stingray (TSX:RAY.A) (TSX:RAY.B) is the world-leading provider of multiplatform music and video services as well as digital experiences for pay TV operators, commercial establishments, OTT providers, mobile operators, consumers, and more. Its services include audio television channels, premium television channels, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. Stingray reaches 400 million subscribers (or users) in 156 countries and its mobile apps have been downloaded over 100 million times. Stingray is headquartered in Montreal and currently has more than 400 employees worldwide. For more information: www.stingray.com.

For more detailed information, please contact:


Mathieu Péloquin

Senior Vice-President, Marketing and Communications
Stingray
1 514-664-1244, ext. 2362
mpeloquin@stingray.com 

Stingray Reports First Quarter 2019 Results

Wed, 08/08/2018 - 16:30

Strong Growth in the U.S. market of 74%

First Quarter Highlights

  • Agreement to acquire Newfoundland Capital Corporation (TSX: NCC.A; NCC.B)
  • Acquisition of Novramedia Inc., subsequent to the quarter
  • Revenues increased 16.1% to $34.5 million
  • Recurring revenues(1) of $30.8 million or 89.4% of total revenues, an increase of 20.8%
  • Overall organic growth of 6.5% or 9.3% excluding non-recurring equipment and installation sales related to digital signage and impact of foreign exchange
  • Adjusted EBITDA(2) up 21.9% to $11.2 million
  • Net income increased to $1.3 million or $0.02 per share (diluted) compared to $0.3 million or $0.01 per share (diluted) last year
  • Adjusted Net income(3) up 3.4% to $5.9 million or $0.10 per share (diluted) compared to last year
  • Cash flow from operating activities increased to $6.9 million
  • Adjusted free cash flow(4) of $6.2 million, a decrease of 14.4% mainly related to higher capital expenditures due to non-recurring leasehold improvements
  • Increased quarterly dividend by 20.0% to $0.06 per share compared to last year
  • Subscription video on demand (“SVOD”) subscribers down to 322,000 in first quarter, but revenues remained stable versus Q4 2018 due to increase in ARPU (average revenue per user)

Montreal, Aug. 08, 2018 (GLOBE NEWSWIRE) -- Stingray Digital Group Inc. (TSX: RAY.A; RAY.B) (the “Corporation”; “Stingray”), a leading business-to-business multi-platform music and in-store media solutions provider, today announced its financial results for the first quarter ended June 30, 2018.

Financial Highlights
(in thousands of dollars, except per unit data)Quarters ended June 30,(in thousands of dollars, except per share data) 20182017%Revenues  34,456 29,670  16.1 Recurring revenues(1)  30,796 25,502  20.8 Adjusted EBITDA(2)  11,179 9,169  21.9 Net income  1,346 280  380.7   Per share – diluted ($)  0.02 0.01  100.0 Adjusted Net income(3)  5,898 5,703  3.4   Per share – diluted ($)  0.10 0.11  (9.1)Cash flow from operating activities  6,919 (589) - Adjusted free cash flow(4)  6,198 7,240  (14.4)
  1. Recurring revenues include subscriptions and usage in addition to fixed fees charged to our customers on a monthly, quarterly and annual basis for continuous music services. Non-recurring revenues mainly include support, installation, equipment and one-time fees.
  2. Adjusted EBITDA is a non-IFRS measure and is defined as net income before net finance expense (income), change in fair value of investments, income tax expense (recovery), depreciation and write-off of property and equipment, amortization of intangible assets, share-based compensation, restricted, performance and deferred share unit expense, acquisition, legal, restructuring and other various costs.
  3. Adjusted Net income is a non-IFRS measure and is defined as net income before amortization of intangible assets, share-based compensation, change in fair value of investments, restricted, performance and deferred share unit expense, acquisition, legal, restructuring and other various costs, net of related income taxes.
  4. Adjusted free cash flow is a non-IFRS measure and is defined as cash flow from operating activities less capital expenditures for property and equipment, and separately acquired intangible assets, net change in non-cash working capital items, acquisition, legal, restructuring and other various costs.

“We are pleased with our results for the quarter in light of organic growth of 7% and the expansion of our Adjusted EBITDA margin which translated into Adjusted EBITDA growth of 22% year-over-year. Furthermore, revenues from outside of Canada reached 60% for the quarter fuelled by very solid growth in the U.S., reflecting the contribution of SVOD and the acquisition of Qello Concerts, as well as continued growth in Other countries,” said Eric Boyko, President, CEO, and Co-Founder of Stingray.

“At the end of June, we moved another step closer to our transformative acquisition of Newfoundland Capital Corporation (“NCC”). The Competition Bureau of Canada issued a favourable Advanced Ruling Certificate pursuant to section 102 of the Competition Act, the shareholders of NCC voted in favor of the transaction and we now anticipate a favourable decision by the Canadian Radio-Television and Telecommunications Commission (“CRTC”) in the coming months. Once completed, Stingray will become Canada’s largest public independent media company. Furthermore, NCC will provide robust free cash flow generation which is expected to support Stingray’s ambitious growth strategy and dividend policy,” concluded Mr. Boyko.   

First Quarter Results
Revenues increased 16.1% to $34.5 million in the first quarter of 2019, compared to $29.7 million a year ago. The increase was primarily due to organic growth of SVOD, combined with the acquisitions of Qello Concerts, Satellite Music Australia PTY Ltd (SMA) and SBA Music PTY Ltd (SBA).

Recurring revenues were up 20.8% to $30.8 million in the first quarter over the same period last year and increased to 89.4% of total revenues for the quarter, compared to 86.0% of total revenues last year. For the quarter, Canadian revenues decreased 6.2% to $13.7 million (39.6% of total revenues) due to less equipment and installation sales related to digital signage, United States revenues increased 74.0% to $8.2 million (23.7% of total revenues), whereas revenues in Other countries increased by 21.1% to $12.6 million (36.7% of total revenues).

Music Broadcasting revenues increased 16.5% to $26.0 million, mainly due to organic growth related to SVOD, as well as the acquisition of Qello concerts. Commercial Music revenues rose 15.0% to $8.5 million, mainly due to the acquisition of SMA and SBA, partially offset by a decrease in equipment and installation sales related to digital signage.

Adjusted EBITDA for the first quarter increased to $11.2 million or 32.4% of revenues, compared to $9.2 million or 30.9% of revenues a year earlier. The 21.9% increase in Adjusted EBITDA was primarily due to organic growth related to SVOD and to the acquisitions realized in Fiscal 2018, partially offset by higher operating expenses related to international expansion.

For the first quarter, the Corporation reported a net income of $1.3 million, or $0.02 per share (diluted), compared to $0.3 million, or $0.01 per share (diluted) for the same period last year. The increase was mainly attributable to higher operating results and positive change in fair value of investments, partially offset by negative change in fair value of contingent consideration and higher depreciation of property and equipment.

Adjusted Net income was $5.9 million, or $0.10 per share (diluted), compared to $5.7 million, or $0.11 per share (diluted) a year ago, as higher operating results were partially offset by negative change in fair value of contingent consideration and higher depreciation of property and equipment.

Cash flow generated from operating activities increased to $6.9 million in the first quarter of 2019 from $0.6 million of cash used for operating activities a year earlier. Adjusted free cash flow decreased to $6.2 million, from $7.2 million for the same period a year ago. The decrease was mainly related to higher capital expenditures due to non-recurring leasehold improvements and foreign exchange loss, partially offset by higher Adjusted EBITDA.

As of June 30, 2018, the Corporation had cash and cash equivalents of $4.3 million and a revolving credit facility of $100 million, of which approximately $52.1 million was unused.

Declaration of Dividend
On August 7, 2018, the Corporation declared a dividend of $0.06 per subordinate voting share, variable subordinate voting share, multiple voting share and subscription receipts, an increase of 20.0% compared to the same quarter last year. The dividend will be payable on or around September 14, 2018, to shareholders on record as of August 31, 2018.

The Corporation’s dividend policy is at the discretion of the Board of Directors and may vary depending upon, among other things, our available cash flow, results of operations, financial condition, business growth opportunities and other factors that the Board of Directors may deem relevant.

The dividends paid are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any corresponding provisions of provincial and territorial tax legislation.

Additional Business Highlights
On May 2, 2018, the Corporation announced that it had entered into a definitive agreement with Newfoundland Capital Corporation Limited (“NCC”) pursuant to which the Corporation will acquire all of NCC’s issued and outstanding shares (NCC Shares) for $14.75 per NCC share, representing a total consideration of approximately $505.3 million. Completion of the acquisition, expected to occur in the coming months but no later than May 2, 2019, is subject to, and conditional upon, the receipt of all necessary approvals, including approval of CRTC and securing necessary funding.

Following the agreement to purchase NCC, the Corporation completed a subscription receipt offering and issued from treasury 7,981,000 subscription receipts of the Corporation (the “Public Subscription Receipts”), on a bought deal basis, at a price of $10.40 per Public Subscription Receipts for gross proceeds of $83.0 million and net proceeds of $79.7 million. Concurrently with the closing of the public offering, the Corporation has issued from treasury 3,846,100 subscription receipts (the “Private Placement Subscription Receipts”) at a price of $10.40 per Private Placement Subscription Receipts for gross proceeds of $40.0 million. As a result of the public offering and concurrent private placement, a holder of multiple voting shares of the Corporation has exercised subscription rights attached to the multiple voting shares of the Corporation and consequently the Corporation issued from treasury 1,452,850 subscription receipts at a price of $10.40 for gross proceeds of $15.0 million.

On August 3, 2018, the Corporation announced that it has made an unsolicited offer to purchase all of the issued and outstanding units of Music Choice, a general partnership which produces music programming and music-related content for digital cable television, mobile phone and cable modem users. The offer at a purchase price of US$120 million, which remains open for acceptance until August 31, 2018, has not yet been accepted and is currently under review by the unitholders. No assurance can be given that the offer, as presented, will be accepted by all or any of the unitholders.

On August 1, 2018, the Corporation announced that it has acquired Novramedia Inc., a Toronto-based leader in the design, development, and implementation of digital media solutions.

On May 14, 2018, the Corporation announced that it had been selected by Talpa Media, creator of The Voice, to develop, publish, and market worldwide the juggernaut of singing competitions’ new companion singing app. The Voice singing app will be launched worldwide in December 2018.

On May 29, 2018, the Corporation announced that it had reached a long-term agreement with Bell that renews and expands their longstanding relationship. Bell thus becomes the first Canadian operator that can offer its subscribers Stingray’s entire music and video services portfolio.

On June 19, 2018, the Corporation announced that it has acquired a minority stake in Nextologies Limited, an Ontario-based provider of technological solutions for broadcasters.

Annual Shareholders’ Meeting
The Corporation will hold its annual and special meeting of shareholders on Wednesday, August 8, 2018, at 11:00 AM (ET) at its Montreal headquarters located at 730 Wellington Street, in Montreal, Quebec.

Conference Call
The Corporation will hold a conference call to discuss these results on Wednesday, August 8, 2018, at 9:00 AM (ET). Interested parties can join the call by dialing 647-788-4922 (Toronto) or 1-877-223-4471 (toll free). If you are unable to call at this time, you may access a tape recording of the conference call by dialing 416-621-4642 (Toronto) or 1-800-585-8367 (toll free) followed by access code: 8491245. This tape recording will be available until September 8, 2018.

About Stingray
Stingray (TSX:RAY.A) (TSX:RAY.B) is the world-leading provider of multiplatform music and video services as well as digital experiences for pay TV operators, commercial establishments, OTT providers, mobile operators, consumers, and more. Its services include audio television channels, premium television channels, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. Stingray reaches 400 million subscribers (or users) in 156 countries and its mobile apps have been downloaded over 100 million times. Stingray is headquartered in Montreal and currently has more than 400 employees worldwide. For more information: www.stingray.com.

Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities law. Such forward-looking information includes, but is not limited to, information with respect to Stingray's goals, beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", and "continue", or the negative of these terms and similar terminology, including references to assumptions. Please note, however, that not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Stingray's control. These risks and uncertainties could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in Stingray's Annual Information Form for the year ended March 31, 2018, which is available on SEDAR at www.sedar.com. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that Stingray anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on Stingray's business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and Stingray does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Non-IFRS Measures
The Corporation believes that Adjusted EBITDA and Adjusted EBITDA margin are important measures when analyzing its operating profitability without being influenced by financing decisions, non-cash items and income taxes strategies. Comparison with peers is also easier as companies rarely have the same capital and financing structure. The Corporation believes that Adjusted net income and Adjusted net income per share are important measures as it demonstrates its core bottom-line profitability. The Corporation believes that Adjusted free cash flow is an important measure when assessing the amount of cash generated after accounting for capital expenditures and non-core charges. It demonstrates cash available to make business acquisitions, pay dividend and reduce debt. The Corporation believes that Net debt and Net debt to Adjusted EBITDA are important measures when analyzing the significance of debt on the Corporation’s statement of financial position. Each of these non-IFRS financial measures is not an earnings or cash flow measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS.

Our method of calculating such financial measures may differ from the methods used by other issuers and, accordingly, our definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers. Investors are cautioned that non-IFRS financial measures should not be construed as an alternative to net income determined in accordance with IFRS as indicators of our performance or to cash flows from operating activities as measures of liquidity and cash flows.

Adjusted EBITDA and Adjusted Net income reconciliation to Net income

(in thousands of Canadian dollars) Three-month period ended
June 30, 2018
Q1 2019 Three-month period ended
June 30, 2017
Q1 2018 Three-month period ended
March 31, 2018
Q4 2018 Net income 1,346  280  4,674  Net finance expense (income) 1,921  537  (378) Change in fair value of investments (497) 434  (421) Income tax expense (recovery) 489  464  (385) Depreciation and write-off of property and equipment 1,169  621  1,019  Amortization of intangible assets 4,587  4,541  4,594  Share-based compensation 175  194  473  Restricted, performance and deferred share unit expense 367  313  780  Acquisition, legal fees, restructuring and other various costs  

1,622   

1,785   

1,396  Adjusted EBITDA 11,179  9,169  11,752  Net finance expense (income) (1,921) (537) 378  Income tax expense (recovery) (489) (464) 385  Depreciation of property and equipment and write-off (1,169) (621) (1,019) Income taxes related to change in fair value of investments, share-based compensation, restricted, performance and deferred share unit expense, amortization of intangible assets and acquisition, legal fees, restructuring and other various costs (1,702) (1,844) (1,764) Adjusted Net income 5,898  5,703  9,732    

Adjusted free cash flow reconciliation to Cash flow from operating activities

(in thousands of Canadian dollars) Three-month period ended
June 30, 2018
Q1 2019  Three-month period ended
June 30, 2017
Q1 2018 Three-month period ended
March 31, 2018
Q4 2018  Cash flow from operating activities 6,919  (589) 10,675  Add / Less :         Acquisition of property and equipment
 (2,228
) (807
) (846
) Acquisition of intangible assets other than internally developed intangible assets (347) (404) (406) Addition to internally developed intangible assets (1,205) -  (1,166) Net change in non-cash operating working capital items 1,437  7,255  1,413  Acquisition, legal fees, restructuring and other various costs 1,622  1,785  1,396  Adjusted free cash flow 6,198  7,240  11,066            

Note to readers: Condensed interim consolidated financial statements and Management’s Discussion & Analysis of Operating Results and Financial Position are available on the Corporation’s website at www.stingray.com and on SEDAR at www.sedar.com.

Contact information:

Mathieu Peloquin
Senior Vice-President, Marketing and Communications
Stingray
(514) 664-1244, ext. 2362
mpeloquin@stingray.com

Startup Utilizing Voice Technology Built On The Blockchain Will Impact Billions

Tue, 07/08/2018 - 22:03

Seattle, Aug. 07, 2018 (GLOBE NEWSWIRE) -- There are more than a billion voice assistant technology devices being utilized in homes, cars and businesses. Right now, voice as an operating system is still in its infancy and limited to simple tasks like ordering products, listening to music and setting reminders. It lacks the depth and dimension of AI displayed in futuristic shows like Netflix’s Black Mirror and Amazon’s Electric Dreams.

One company wants to accelerate the AI (machine learning) component of smart voice technology from answering simple questions to executing complicated tasks. With their technology, someone struck with a business idea could purchase a domain, build a website, generate corresponding social media accounts, create a launch event and send invites to specific contacts...all using voice activated devices that execute these functions at the speed of thought.

To help facilitate this massive cultural and technological shift, Reflective Ventures is excited to announce a strategic partnership with WMVAI (pronounced WOM-vye). The Redding CA-based startup has a B2B SaaS platform suite that will automate content provisioning to podcasts, audiobooks, and social media sites as well as smart assistants like Amazon Alexa, Google Home, Microsoft Cortana, Apple Siri, and Samsung Bixby. Their roadmap includes building machine to machine (IoT) software integrating decentralized autonomous organization (DAO) technologies all powered by voice and blockchain.

The first version of the company’s software is live and serves as an automated solution for publishing directly to Amazon Alexa’s Flash Briefing. They are providing a service that no one else is offering by allowing content creators, that are early adopters, the ability to penetrate and dominate in this emerging market. Ian Utile, CEO of WMVAI says that “The next operating system is voice. Soon everyone in the global community will be heard.”

The company makes their clients relevant through teaching the A.I. machines how to interact with humans. The largest publishing companies can take all of their content and put it on Alexa TODAY. So, when people look for content around people like Gary Vaynerchuk, 5-Time NYT Bestselling Author, voice devices will source his content and provide an entirely new way to engage with him. WMVAI can build content into a voice audio skill that can query Alexa (or other smart assistants) for a quick and concise answer. Publishers can see an immediate return on investment by selling more product through Amazon.

CTO John Wiese whose previous FinTech company turned down an eight figure Google acquisition and brings three decades of experience to the company believes, “The tech convergence of voice assistants, AI/machine learning and the blockchain is very unique at this time in history.” As the public demands voice activated content, WMVAI will get their customers ahead of the curve by adding more dimension to the interactive skill set of AI.” Ryan Stickel, VP of Product says, “The integration of Voice and Blockchain will revolutionize speed of learning, expose misinformation, and coordinate our entire financial markets.”

Shahan Khoshafian, a Senior Associate at Reflective Ventures echoes similar sentiments, “The team at WMVAI has a very special vibe and chemistry, because they are all aligned on their mission and vision for the future. They believe that voice is going to play a major role in the way we interact and engage with the world around us. The technology partnership with RChain allows them to securely scale and push out their voice platform to all the major connected voice devices such as Alexa.”

The WMVAI team is a passionate group of serial entrepreneurs and industry experts with solid backgrounds in SaaS marketing, payment systems, big data, machine learning, mobile apps, custom software applications, and extensive experience in audio engineering.  Ryan Opfer, VP of Production believes that, “We are just beginning to see the unlocked potential of humanity's greatest power - the power of voice. Voice and blockchain technology are eliminating the barriers to information trapped behind a digital world. We will communicate our past and future stories in the most human way possible, through voice.”

Always the visionary, Ian is confident about the future, “WMVAI will succeed because of the executive team we have. We may pivot, but we have this incredible team that knows how to build products.” WMVAI intends to build on RChain’s testnet, and become part of the RChain ecosystem. John adds, “I believe Reflective is a perfect fit for WMVAI. RChain has the technology and is building a scalable foundation to take us where we need to go.”

Interested parties looking to be first to market with voice smart devices can contact Ian Utile by texting him at (831) five six six 9692. Ian would also like to invite you to attend their Voice Will #RUNtheFUTURE event happening at the Runway Innovation Hub inside of Twitter’s San Francisco HQ.

About WMVAI
WMVAI — standing for We Magnify Voice for Attention and Influence — is both the name and mission of this Redding CA-based startup. Their B2B SaaS platform suite automates content provisioning to podcasts, audiobooks, and social media sites as well as smart assistants like Amazon Alexa, Google Home, Microsoft Cortana, Apple Siri, and Samsung Bixby. Their roadmap includes building machine to machine (IoT) software integrating decentralized autonomous organization (DAO) technologies all powered by voice and blockchain. http://wmv.ai


About Reflective Ventures & RChain
Reflective Ventures is a privately held and operated investment fund seeded by the RChain Cooperative. It is committed to strategic partnerships and helps fund, incubate, and ultimately build the next generation of blockchain and dApps through RChain and its network. RChain is a new blockchain platform rooted in a formal model of concurrent and decentralized computation to produce a concurrent, compositional, and infinitely scalable blockchain.  https://www.reflectiveventures.io & https://rchain.coop


Attachments

CONTACT: Shahan Reflective Venture Partners info@reflectiveventures.io

Music to His Ears: Musician David Gellis Overcomes Hearing Loss with Signia Hearing Aids

Tue, 07/08/2018 - 21:30

Lead guitarist for Blood, Sweat and Tears wears Signia’s Pure Charge&Go Nx hearing aids to hear better—on and off the stage.

Piscataway, NJ, Aug. 07, 2018 (GLOBE NEWSWIRE) -- What happens when a lifetime around loud music damages your hearing? For David Gellis, decades of performing as lead guitarist of the band Blood, Sweat and Tears led to hearing loss, making it difficult to hear and perform.

While an experienced hearing aid wearer, Gellis would often remove his older devices when on stage because they didn’t provide the clarity of music he needed. However, new hearing aids from audiology technology leader Signia allow him to hear better, even when performing.

With Signia’s Pure® Charge&Go Nx hearing aids, Gellis has a pair of technologically advanced devices with programs to help him hear in all situations, whether performing or listening to music, or during conversations.

“Dave has a mild-to-severe hearing loss that’s worse in the higher frequencies, which is typical with noise exposure,” said Dr. Donna Szabo, Audiologist and owner of Innovative Hearing Solutions. “He needed something that would help him with the clarity of the music, so I fit him with the Signia Pure Charge&Go Nx. In the program, it has live music and recorded music settings, so he can benefit from them.”

Gellis, who shares his experiences with Signia hearing aids in a new video testimonial, said, “When they first turned them on, I felt foolish for putting it off for so long. At the same time, it was an absolute epiphany. It reminded me what birds sound like!”

See how Signia’s Pure Charge&Go hearing aids have changed David Gellis’ life at: https://youtu.be/HYWbsu8nAnw.

 

Contact for journalists:

Debra Ludgate, Phone: 732.529.3708; E-mail: debra.ludgate@signiausa.com

 

About the Sivantos Group

The business operations of the former Siemens AG hearing aid division have been combined into the Sivantos Group since early 2015. Sivantos can look back on almost 140 years of German engineering and countless global innovations. Today Sivantos is one of the leading hearing aid manufacturers worldwide. With its around 6,000 employees, the group recorded revenues of 967 million euros in the fiscal year 2016/2017 and an operating profit (Adj. EBITDA) of 238 million euros. Sivantos' international sales organization supplies hearing care specialists and sales partners in more than 120 countries. Particularly high value is placed on product development.  Sivantos aims to become the market leader in the coming years with its brands Signia, Siemens, Audio Service, Rexton, A&M, HearUSA and audibene. The owners of Sivantos are the anchor investors EQT along with the Strüngmann family as a co-investor.

Sivantos GmbH is a brand license holder of Siemens AG.

More information can be found at www.sivantos.com

Attachments

CONTACT: Debra Ludgate Sivantos, Inc. 732.529.3708 debra.ludgate@signiausa.com

TLD3 Closes Acquisition of Digital Legend

Tue, 07/08/2018 - 19:30

Enters $30B Wireless Audio Streaming and Music Social Networking Markets


BOCA RATON, FL, Aug. 07, 2018 (GLOBE NEWSWIRE) -- TLD3 Entertainment Group, Inc. (www.tldecorp.com) (OTC PINK: TLDE) is pleased to announce it has closed the acquisition of the assets of Digital Legend, a developer of leading edge wireless audio streaming devices and music social networking software.

Previously announced in November 2017, TLD3 (The Company) had entered into a Letter of Intent (LOI) with Digital Legend (www.digitalegends.com) to explore a possible acquisition of Digital Legend's MBox -- a wireless mobile audio streaming technology that provides 10x the sound quality at 30% of the cost of its nearest competitors like JVC, Sony, and Beats.

Since entering the LOI, Digital Legend has matured in its product development and will release the first of its consumer electronic mobile audio streaming products in 3rd QTR 2018

TLD3’ acquisition also includes Take It 2 The Next Level Technology (www.takeit2nextlevel.com), the originating developer of a music social networking application technology which is being developed by The Company.  Through this acquisition, TLD3 now owns and controls the global marketing and development rights to Mbox wireless audio streaming technology as well as Take It 2 The Next Level’s music social networking application.

The Wireless audio streaming market is estimated to grow to $33 billion a year by 2023. The online music streaming markets has now surpassed $10 billion annually.  Music discovery applications like Shazam have surpassed over one billion downloads and $1 billion in valuation. The Company’s initial products are powerful entrants in the wireless audio streaming, online music streaming and music discovery markets. Additionally, the music social networking application could revolutionize online payments for artists, producers and consumers. With the acquisition of Digital Legend’s assets and Take It 2 the Next Level Technology Inc., TLD3 Entertainment is uniquely positioned for growth in the newly emerging streaming entertainment markets.

About TLD3 Entertainment Group, Inc.

TLD3 Entertainment will remain the parent company, with a business strategy focused on creating, developing and marketing of innovative digital based   technologies. The Company plans to create and develop new products as well as acquiring complimentary businesses and technology. The Company will operate several subsidiaries and brand names. Take it 2 the Next Level Technology Inc. will now operate as the Company’s primary design and marketing arm; Digital Legend will remain as a company brand name for future products.

About Take It 2 the Next Level Technology. (www.takeit2nextlevel.com)

Take It 2 the Next Level Technology Inc. is a New York, NY based designer and marketer of signature digital platforms for music, entertainment and social media markets. The Company currently has 2 products ready for commercialization, a music social networking application, and a Wi-Fi music streaming player. Take It 2 The Next Level Technology Inc. is a fully owned subsidiary of TLD3 Entertainment.

Clarification of Past Remarks

Digital Legend in a press release dated November 2017, released statements regarding blockchain, payments, rewards and cryptocurrency. While the Company has studied the feasibility of interrelated blockchain and crypto currency applications, currently Digital Legend operating today as part of the TLDE Corporation does not have any operating blockchain or crypto currency technology and or platforms. TLDE believes the regulatory environment regarding blockchain and cryptocurrency is currently too volatile and has decided to wait to develop blockchain and/or crypto currency related technologies only under known regulatory guidelines.

Forward-Looking Statements

This release may contain statements that are "forward-looking statements". Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. These statements are based on current estimates and projections about the Company's business, which are derived in part on assumptions of its management, and are not guarantees of future performance, as such performance is difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Such factors include, but are not limited to, the Company's limited operating history, ability to execute effectively its business plan, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantage, the Company's, the limited financial resources, and conditions of equity markets. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. No information in this press release should be construed as an indication of the Company's future revenues or financial results.


CONTACT: CONTACT INFORMATION TLD3 Entertainment Group, Inc.  503-780-8725

NetworkNewsWire Releases Exclusive Audio Interview with WhereverTV Broadcasting Corp. (OTCQB: TVTV)

Tue, 07/08/2018 - 18:00

NEW YORK, Aug. 07, 2018 (GLOBE NEWSWIRE) -- via NetworkNewsAudio - NetworkNewsAudio (NNA), a NetworkNewsWire (NNW) Solution that delivers clients unparalleled visibility, recognition and brand awareness in the investment community, today announces the online availability of its interview with WhereverTV Broadcasting Corp. (OTCQB: TVTV), a client of NNW engaged in providing live-stream broadcast programming to consumers across multiple devices, geographies and languages.

The interview can be heard at http://nnw.fm/g62YG.

NNW’s Stuart Smith introduces WhereverTV’s CEO Edward D. Ciofani in an interview that reviews the company’s milestones, niche market, and next-generation television subscription services.

WhereverTV is carving a path in the over-the-top (“OTT”) television broadcast programming industry, which Ciofani says provides a cost-effective and economical way of transmitting content via any Internet-enabled device. He compares OTT to traditional broadcasting services using an analogy of driving from Florida to New York vs. boarding a plane. The end result is the same, but OTT is much quicker and more cost-efficient, and that's where industry leaders are headed.

Reports by Nielsen ratings confirm this trend, showing a steady decrease in traditional fixed-location consumption and rapid increase in the number of hours individuals spend viewing content on smart devices.

Many reports indicate that the OTT industry could exceed $20 billion over the next 5-10 years. As Ciofani explains, “terrestrial broadcasters [cable and satellite] are going to be losing subscribers” often referred to as "cord cutters,” a term for consumers shifting away from your typical terrestrial broadcasters and spending money on a lot of channels they don't watch.

Competing with the big wigs in the marketplace, Ciofani says WhereverTVs' advantage over their competitors, is their patented IPG OTT platform is designed to allow our customers to access our content across the globe based on content digital rights management agreements. WhereverTV is one of the few providers able to obtain content that, if given worldwide rights, would allow a subscriber base to watch its platform internationally.

WhereverTV has built a strong leadership team of individuals with track records of success across multiple industries, including expertise in business development, advertising, corporate governance and OTT content broadcasting. Management, through strategic ventures and partnerships, has revamped the platform to provide secure, sophisticated and comprehensive content delivery and has employed a dynamic marketing campaign.

WhereverTV also launched in Latin America in December 2017 and, in partnership with Google Chromecast, includes its name on streaming boxes across 200 stores. The efforts have reflected in a rapid increase of subscribers in the new market, roughly 25,000 since February 2018.

Moving forward, WhereverTV is focused on creating original content and deepening its expansion into the music industry. The company is working with several talented artists and A-listers, providing the opportunity to stay in front of a multi-million and growing fan base to ensure continued profitability and revenue growth.

Demonstrating its commitment to its success, WhereverTV is defending its '431 patent/Xfinity platform and recently filed patent infringement against Comcast Corporation to protect its valuable asset in the competitive and rapidly growing industry.

Read the full press release here: http://nnw.fm/os3CI

About WhereverTV Broadcasting Corporation

Founded in 2007, WhereverTV is the next generation subscription television service providing consumers with live-streaming, genre-specific, and in-language viewing choices from around the world, delivered to anywhere in the world, and through any internet enabled device. WhereverTV provides an economically beneficial and completely versatile alternative to traditional cable and satellite services, with the added benefits of personalization and portability. Also known as Internet TV, WhereverTV delivers content, shows and events to Smart TVs and digital media receivers including: iPhone, iPad, Android Smartphone and Tablet PCs. The WhereverTV patented IPG platform enables subscribers to access licensed content from content providers from around the world. The customer viewing experiences are based on customer location (geo-targeting) and content/digital-rights management contracts. Apps are presently available for free with in app purchases for Apple TV, iOS phones and iPads in the Apple Store. WhereverTV is currently available for Android Phones and tablets in the Google Play Store. WhereverTV is also available on Amazon Fire TV Stick. Samsung & LG Smart TV’s, Roku and DVR functionality to record shows and view later are presently in the works.

For more information, visit the company’s website at https://www.Wherever.TV.

About NetworkNewsAudio

NetworkNewsAudio (NNA) , a NetworkNewsWire (NNW) Solution, allows you to sit back and listen to market updates, CEO interviews and a Company AudioPressRelease (APR). These audio clips provide snapshots of position, opportunity and momentum. NetworkNewsAudio (NNA) can assist your company by cutting through the overload of information in today's market, NNA brings its clients unparalleled visibility, recognition and brand awareness. NetworkNewsWire (NNW) is where news, content and information converge. NetworkNewsWire (NNW) is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public with an ever-growing distribution network of more than 5,000 key syndication outlets across the nation.

For more information, visit: www.NetworkNewsAudio.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

Corporate Communications Contact:

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com 
212.418.1217 Office 
Editor@NetworkNewsWire.com

Transactions in relation to share buyback program

Tue, 07/08/2018 - 13:57

Acting under its share buyback authorization, the GN Store Nord Board of Directors initiated a share buyback program on May 2, 2018, in accordance with article 5 of the regulation (EU) no. 596/2014 of 16 April 2014 on market abuse and the delegated regulation (EU) no. 2016/1052 of 8 March 2016, also referred to as the Safe Harbor rules (company announcement no. 15 of May 2, 2018).

The share buyback program has been initiated in order to reduce the company’s share capital and to cover obligations under the long-term incentive program. Under the share buyback program, which runs from May 2, 2018 and will end no later than March 14, 2019, GN intends to buy back shares for an amount of up to DKK 1,000 million.

The following transactions have been made under the program in the period July 31, 2018 – August 6, 2018:

 No. of sharesAverage purchase price, DKKTransaction Value, DKK  July 31, 201820,000304.336,086,688  August 1, 201820,000309.446,188,844  August 2, 201815,000310.874,663,005  August 3, 201815,000316.124,741,851  August 6, 201810,140316.363,207,870Accumulated under the program1,392,073271.00377,247,587

Following the above transactions GN holds a total of 12,143,556 own shares corresponding to a nominal value of DKK 48,574,224 and 8.3% of the total share capital and the total voting rights in the company. Every Tuesday, GN will announce the number and value of repurchased shares in company announcements to Nasdaq Copenhagen.

For further information, please contact:

Investors and analysts
Peter Justesen
VP – Investor Relations & Treasury
Tel: +45 45 75 87 16

Or

Rune Sandager
Senior Investor Relations Manager
Tel: +45 45 75 92 57


Press and the media
Lars Otto Andersen-Lange
Group Media Manager
Tel: +45 45 75 02 55


About GN Group
The GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. With our unique competencies within medical, professional and consumer audio solutions, we transform lives through the power of sound: Hearing aids that enhance the lives of people with hearing loss; integrated headset and communications solutions that assist professionals in all types of businesses to be more productive; wireless headsets and earbuds designed to support calls, music and media consumption.

With world leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and Blueparrott in 100 countries across the world. Founded in 1869, the GN Group today has more than 5,500 employees and is listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter.

Attachments

Edge Music Network Announces Record-Breaking First Half of 2018

Tue, 07/08/2018 - 00:02

Game-changing Video Syndication Platform Surges to over 35,000 Unique Users per Month Across all 50 United States and Expands its Number of New Artists

NEWPORT BEACH, Calif., Aug. 06, 2018 (GLOBE NEWSWIRE) -- Edge Music Network (EMN), a music video streaming service delivering on-demand video content through a powerful syndication platform, is proud to announce a record-breaking first half of 2018. The company expanded its user base to over 35,000 per month nationwide compared to 1,500 users per month in 2017. EMN’s latest advances enable users to interact, book a band, watch live performances, follow artists on their official social media channels and connect through the platform’s chat capability.

“We had a stellar start to 2018 and the momentum continues to build,” says CEO Elizabeth Vargas, the industry veteran and powerhouse who founded EMN in 2011. “Our community of global citizens is rapidly growing and it’s exciting to see that so many people around the world believe in the universal and transformative power of music. The platform exists as much to help artists extend their reach and realize lucrative monetization opportunities, as it does to serve as a catalyst for change. Our ongoing growth, investor interest and renowned partnerships are just the beginning of EMN’s journey to fulfill its mission of making the world a better place."

In summary, Edge Music Network hit the following milestones during the first half of 2018:

  • Grew user base by 2,233 percent.
  • Reached new users in all 50 states
  • Doubled new artist sign-ups to nearly 40 a month
  • Delivered a compelling new way for artists and musicians to connect with fans through the launch of its Artist Pages
  • Partnered with industry renowned digital distribution service MondoTunes to offer artists a full 360 distribution model for Mp4 as well as Mp3 music videos
  • Launched the Play It Forward feature to allow fans to support their favorite artist with monetary donations

On a mission to reinvent the way music is heard, viewed and shared, EMN is backed by industry giants such as John Paul DeJoria, VH1 Classic founder Eric Sherman, Aerosmith lead singer Steven Tyler, The Who lead singer Roger Daltrey, Queen drummer Roger Taylor.

“There’s no stopping us now,” added Vargas. “With unending growth in sight, we are more determined than ever to connect artists and fans with the music industry’s most cutting-edge platform to help bridge the gap between content creators, artists and music fans.”

EMN is available through the Apple iTunes Store and Google Play. For more information, visit www.edgemusic.com

ABOUT EDGE MUSIC NETWORK: Edge Music Network (EMN) is a music video streaming service delivering on-demand video content through a powerful syndication platform designed to enable a fair compensation structure ensuring artists get the royalties they deserve, and fans get uninterrupted access to the music they love—anytime, anywhere. With powerful search tools for discovering and streaming on demand, users can watch the latest music videos, concerts and events of the highest quality. The EMN mobile app unlocks premium content, allowing users to easily create, manage and share custom playlists and enjoy channels with music videos curated by EMN experts. The Edge Music Network dedicates a percentage of profits to charitable causes that feed the hungry, aid victims of natural disasters and support homeless veterans. Supported by an advisory board of renowned musicians and industry professionals, and in partnership with leading content creators, independent artists and marquee music labels like Universal, Capitol Records, Def Jam and Geffen—Edge Music Network is on a mission to reinvent how music is heard, viewed and shared. Edge Music Network delivers an unlimited, unrestricted and unbelievable audio and video experience—and unites people with the transformative power of music. For more information, follow Edge Music Network on FacebookInstagramTwitter and LinkedIn, and visit www.edgemusic.com.

MEDIA CONTACT: Leslie Licano, Beyond Fifteen Communications, Inc.
leslie@beyondfifteen.com | 949-733-8679 x 101

Stingray Digital Group Inc. Makes Bid for Music Choice

Fri, 03/08/2018 - 16:30

MONTREAL, Aug. 03, 2018 (GLOBE NEWSWIRE) -- Stingray Digital Group Inc. (TSX: RAY. A; RAY. B.), a leading business-to-business multiplatform music and video solutions provider, today announced that it has made an unsolicited offer to purchase all of the issued and outstanding units of Music Choice, a general partnership which produces music programming and music-related content for digital cable television, mobile phone and cable modem users.

The offer was presented to Music Choice’s management and communicated to each of the unitholders which include Charter Communications, Comcast, Cox Communications, Sony Corporation of America, WarnerMedia, Arris, and Microsoft.

Stingray confirms a purchase price of US$120M and vendor-friendly terms and conditions (including limited representations, warranties, and indemnities) to facilitate and expedite acceptance of the offer, execution of definitive legal documentation, and consummation of the proposed transaction.

The offer, which remains open for acceptance until August 31, 2018, has not yet been accepted and is currently under review by the unitholders. No assurance can be given that the offer, as presented, will be accepted by all or any of the unitholders.

“We believe that our formal offer to purchase has strong merit and would bring a significant return on investment for Music Choice unitholders,” said Eric Boyko, President, Co-founder, and CEO of Stingray. “Music Choice would benefit greatly from joining forces with Stingray, given that we are well positioned to expand and build Music Choice’s product portfolio and distribution in the United States and around the world. We look forward to bringing this process to a positive conclusion for the benefit Music Choice unitholders and all stakeholders."

About Stingray

Stingray (TSX: RAY.A; RAY.B) is the world-leading provider of multiplatform music and video services as well as digital experiences for pay TV operators, commercial establishments, OTT providers, mobile operators, consumers, and more. Its services include audio television channels, premium television channels, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps, Stingray reaches 400 million subscribers (or users) in 156 countries and its mobile apps have been downloaded over 90 million times. Stingray is headquartered in Montreal and currently has close to 400 employees worldwide. For more information: www.stingray.com.

Forward-Looking Information

This news release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information includes information with respect to Stingray’s goals, beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, and “continue”, or the negative of these terms and similar terminology, including references to assumptions. Please note, however, that not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Stingray’s control. These risks and uncertainties could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in Stingray’s Annual Information Form (AIF) dated June 8, 2017, which is available on SEDAR at www.sedar.com. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that Stingray anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on Stingray’s business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and Stingray does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

For more information, please contact:

Mathieu Péloquin
Senior Vice-President, Marketing and Communications
Stingray
1 514-664-1244, ext. 2362
mpeloquin@stingray.com

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