29th April 2011

Business News and Social Media Election Updates

rtndaThe Association of Electronic Journalists and RTDNA – The Radio Television Digital News Association vehemently opposes Section 329 of the Canada Elections Act, which prohibits transmission of election results to the public in a district where polling stations are still open.

The law was initially intended to curb national media outlets from “prematurely transmitting” electoral results across time zones, theoretically preventing election results in Eastern Canada from influencing voters in the West, despite a lack of evidence suggesting that has ever been the case. The stakes are raised a bit more now with social media’s emergence as a primary reporting tool. As it stands now, if a media organization or individual tweets about or Facebook comments about Canada’s election results prematurely, a law has been broken with the offender subject to a maximum fine of $25,000, or up to five years in prison.

“Social media is emerging as a critical tool spawning new hopes for democracy in northern Africa and the Middle East. We should not see it going the other way in Canada,” said RTNDA Canada president Andy LeBlanc. “The Canadian news media has long been prevented from broadcasting election results to places where the ballots are still open. That didn’t stop people from calling friends and relatives on the other side of the country to discuss ongoing election results. Millions of Canadians using Twitter and Facebook should not risk persecution for participating in an unfolding democratic process, the kind of political engagement people in other parts of the world are dying to achieve.”

“We’re living in a breaking news, digital world,” said RTDNA Chairman Mark Kraham. “News consumers expect – and are entitled to – the most up-to-date, comprehensive information available, especially when it comes to electing a nation’s leaders. This law is archaic and? condescending to voters and should be revised as soon as possible.”

“RTDNA strongly advocates ethical and responsible elections reporting,”?Kraham continued. “Information about election results should be delivered after a strong confirmation process ensuring that voters are given accurate information.”

In a report by the Montreal Gazette, John Enright, who speaks for Elections Canada, said his agency has no choice but to administer the law as written. Citizens are allowed to phone or text friends, or send private e-mails. But posting to a Facebook wall, to a webpage or to Twitter will be considered a violation.

“The legislation is still on the books, so our role as Elections Canada is to administer the legislation that is before us,” said Enright, in the Montreal Gazette report. “If there’s a breach of the law, Elections Canada is not going to discriminate between the Mothercorp and Joe Smith down the street.”

poyntPoynt Corporation has announced the issuance of 150,000 stock options at an exercise price of 0.15 to an officer of the Company.

The options have been granted under the terms and conditions of the Company’s approved option plan. The Company has a 10% “rolling” option plan which reserves for issuance on exercise of options a maximum of 10% of the number of common shares of the Company outstanding from time to time.

mobilicityMobilicity has enhanced its leadership position as Canada’s rising new wireless carrier, announcing that it has raised $215 million through a debt offering. Canada’s premier institutions were key investors in this new offering, which was led by National Bank Financial Inc. and GMP Securities. The offering represents one of the largest capital raises for an emerging telecommunications carrier in Canada in recent years, and will provide Mobilicity with growth capital to further strengthen its customer experience across Canada.

“Mobilicity has a compelling business model and the best value proposition for consumers and we are excited about getting additional support from Canada’s financial community,” said President and Chief Executive Officer Dave Dobbin.

“Today’s news, made just two weeks shy of the first anniversary of our Toronto launch and on the heels of our successful launch in Calgary yesterday, confirms Mobilicity’s place as the leading, innovative new entrant in Canada’s wireless industry,” Dobbin added. “We are very well positioned for future growth and opportunities.”

The company’s Chief Financial Officer Joe Prodan said, “Our strong balance sheet, best-in-class services and low-cost operating structure provide the strength and flexibility required to provide terrific value to Canadian wireless consumers.”

D-BoxD-BOX Technologies Inc. has announced a new agreement with FTT (the company’s first European distributor for commercial theatre expansion) to equip a first theatre with Austria’s Cineplexx with approximately 50 D-BOX motion seats.

The Cineplexx in Linz, Austria will boast two auditoriums with D-BOX Motion technology. This newest theatre in Europe marks the first sale of D-BOX in Austria for commercial theatre usage. Under D-BOX’s international business model, in addition to the revenues generated from the sale of the systems, the agreement will generate licensing fees payable to D-BOX in accordance with the systems’ use.

“As a result of our highly advanced international business model and collaboration with FTT, we are continuing to generate considerable interest in our motion technology from theatre companies throughout Europe,” said President and Chief Executive Officer of D-BOX Technologies, Claude Mc Master. “We are steadily increasing our presence in this part of the world and look forward to developing additional partnerships similar to our new relationship with Cineplexx.”

Most recently, D-BOX announced that theatres in Germany and the Netherlands will soon feature its immersive motion technology adding to a growing list of countries that also include Japan, China (Hong Kong), Canada and the U.S.

YANGAROOYANGAROO Inc. has announced its results for the year and fourth quarter ended December 31, 2010. Revenue for the fourth quarter of 2010 was 44% higher than the revenue for the same period of 2009 and revenue for the fiscal year of 2010 was 3% higher than the revenue in fiscal 2009.  The increase in revenue is a result of greater use of DMDS for music video delivery by the major labels and the independent sector.  Revenue is expected to continue to increase as billable US music audio and video deliveries grow, independent sector usage increases, and billable advertising delivery volumes rise.

Total operating expenses for the year ended December 31, 2010 increased by 16% compared to the same period in fiscal 2009, primarily due to recruiting costs and management changes, the addition of a new advertising division and debenture interest. In the fourth quarter of 2010, management continued its cost cutting initiative through reducing costs and increasing productivity by consolidating offices.  The Company also reduced its expenditures on consultants by terminating or suspending certain engagements and restructuring compensation terms with existing consultants that more closely link compensation to results. The benefits of the Company’s cost cutting measures will be reflected in fiscal 2011.

As part of the Company’s annual review for indications of impairment, it determined there to be a reduction in value of $1,543,575 in its long lived asset group, which includes patents, investment in technology and deferred development costs.  The Company believes that its cost savings initiative and the recent restructuring of management will enhance the Company’s economic future.

Recent period highlights include a multi-year agreement with Viacom’s BET Networks to use YANGAROO’s Digital Media Distribution System (DMDS) technology for delivery of all artist and music-related audiovisual content to BET properties, an agreement with the Academy of Country Music to power online review and professional member voting for the 46th Annual Academy of Country Music Awards and receiving the grant of Canada patent number 2,349,797 titled “Biometric Rights Management System“. YANGAROO named advertising industry veteran Anthony G. Miller to the board of directors and appointed former advertising executive Karen Dealy to President of U.S. Advertising Operations.

“In the fourth quarter we made great strides in expanding our reach beyond the music industry to the advertising industry. The revenue growth in Q4 is just the beginning.” said YANGAROO CEO Scott Wambolt. “With music video revenues continuing to grow, and the advertising rollout well underway, we expect revenue growth to continue and accelerate.”

This entry was posted on Friday, April 29th, 2011 at 10:41 am and is filed under Business News, Government, National News, Social Media. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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