Intertainment Media has provided an update on the spin out of Ortsbo Inc., previously announced on February 28, 2012. The Company continues to receive feedback from Canadian regulators on its proposed financing and senior listing, and during this process, Intertainment has received interest from US investment banking firms for listing both Intertainment and Ortsbo on senior US exchanges. The Company has spent time with firms in New York, Chicago and Los Angeles discussing the opportunity and feels that the interest is significant enough to consider pursuing such opportunities further and report its findings to shareholders.
Ortsbo’s initial focus has been to create social engagement and commercially leverage US entertainment and pop culture markets on a global basis and work with leaders in the industry to effectively create multi-language business opportunities. To date, Ortsbo has successfully run events with Disney, Dreamworks, Marvel, KISS, IndyCar, Clear Channel, Variety, Fox, Yahoo!, MSN and other major brand partners. Given the strong US interest for Ortsbo’s and Intertainment’s investment portfolio companies, management feels, in consultation with its lead financial advisor, M Partners, Inc., that the value proposition of a US listing may potentially provide greater value for all stakeholders.
Ortsbo now has over 162 Million unique monthly users, growing by over 55 Million users in the past 90 days and continues to move towards sustainable revenue with defined commercial opportunities in social media, broadcast communications, global customer care and ecommerce programs with major brand partners.
Ortsbo’s business development team in the US, Canada and now Europe are working with major brands to identify their global opportunities to increase revenues and customer satisfaction experiences with the use of Ortsbo’s proprietary services platform. Additionally, recent changes to the US Federal Communications Commission’s regulations with respect to accessibility through closed captioning and online intellectual property have opened up a number of opportunities with major entertainment studios.
Ortsbo has now been engaged in pilot programs for proof of commercial concept with several global brands. Some of these programs are expected to be made public in the near future and will potentially provide the Company with sustainable revenue programs from which to grow its overall commercial business platform.
As the Company currently awaits final approval for circulation of its materials to hold a special meeting of shareholders and has publicly disseminated a proposed date of June 14, 2012 for such meeting, the Company will move ahead, at this time, with a presentation to shareholders, providing an interactive forum to present and discuss the Company’s progress with interested parties and allow parties to engage with management.
The meeting on June 14, 2012 will be held at:
|Hilton Toronto/Markham Conference Centre|
|8500 Warden Avenue|
|Meeting time: 9:30am – 11:30am|