ENTI Turnkey IP Turns $1.75M Revenue in Milestone Agreement
15 Julho 2010 - 9:30AM
Marketwired
Encounter Technologies, Inc. (PINKSHEETS: ENTI) CEO, Rick DiBiase,
is pleased to announce that the company has sold its patented Video
Sales Platform (VSP), a concept designed for the Internet Yellow
Pages Industry, to a corporate purchaser for 1.75 million dollars.
The deal took place in the wake of what was originally to be
Encounter's own launch of the platform, until it was evident that
the company could secure revenues without letting go of the
software itself. Negotiations won Encounter the right to sell VSP
under non-exclusive terms, which means, "We receive the money and
also keep the ability to develop and market the technology," states
DiBiase. "This was a win-win deal for certain as, first and
foremost, we've proven to monetize an intangible asset in
development to the tune of nearly 2 million dollars."
The Agreement is understood by both parties that the purchaser
name will stay anonymous and will wholly acquire VSP for $1.75m,
but because the software platform can be tweaked for a number of
applications and potential business models, it was agreed to forego
any non-compete clause and left rights to the base VSP technology
with ENTI, resulting in Encounter's ability to still develop a
solution with the software for its own use. "It's the great thing
about Intellectual Property: so long as the agreement allows, you
can monetize the IP in several different fashions, even
concurrently, which allows for additional company reserves as well
as substantial operating and development capital which we feel is
quite an advantage for ENTI and its shareholders."
Encounter will continue to develop the software in-house for its
own unique offering to the independent Yellow Pages publishers
online, utilizing an aggressive mass media marketing campaign
paired with a high-profile celebrity spokesperson. "We have some
great ideas for the VSP technology that we'll be developing as we
forge ahead with the booming MusicMatrix.com, announcing its
celebrity spokesperson in the coming days, in line with our
strategic DISH Network campaign and progressive internet hits."
Look forward to the company's Investor Re-cap call tomorrow!
Call update will be available at 10:00am EDT on Friday, July 16th,
2010. The call can easily be accessed by dialing the toll-free
number, 800-642-1687, in the US and Canada or 706-645-9291 for
international calls. Simply dial in the new conference code,
78255016, when prompted.
About Encounter Technologies, Inc. (ENTI) Encounter
Technologies, Inc. provides end-to-end technology and online
marketing services, including design, build, hosting, and online
marketing support. We specialize in social media, video technology,
and online entertainment web solutions. Encounter Technologies,
Inc. utilizes their pre-built applications to provide the platforms
in which to base solutions for businesses looking to utilize video
technology to increase online collaboration and interaction. Our
goal is to provide our clients with the best methods to increase
user value and achieve desired business results. Simply put,
Encounter Technologies, Inc. transforms ideas into revenues. For
more information about Encounter Technologies, Inc., visit
www.encountertech.com.
About MusicMatrix.com On MusicMatrix.com, users are able to
participate in music video editing competitions in order to win
both prizes and recognition. Encounter Technologies, Inc. (ENTI)
has developed a cutting edge, innovative, and simple to use
platform for MusicMatrix.com, which facilitates the video
uploading, editing, sharing, and viewing experiences. By creating
an environment which rewards both innovation and creativity, users
are given the incentive to implement their own unique online
marketing campaigns in order to expose a particular artist or song
to populations and demographics not typically reached through
standard mass campaigns.
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 and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause
future circumstances, events, or results to differ materially from
those projected in the forward-looking statements as a result of
various factors, and other risks. You should consider these factors
in evaluating the forward-looking statements included herein, and
not place undue reliance on such statements. The forward-looking
statements in this release are made as of the date hereof and
Encounter Technologies, Inc. under take no obligation to update
such statements.
Contact: Encounter Technologies, Inc.
press@encountertech.com
Encounter Technologies (CE) (USOTC:ENTI)
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