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Intertainment's Ortsbo Celebrates First Anniversary with Key Patent Application, Binding Commitment to Acquire 100% of SaaS Technologies and Record Results(July 25, 2011)
NEW YORK, NEW YORK and LOS ANGELES, CALIFORNIA and SAN MATEO, CALIFORNIA and TORONTO, ONTARIO -- (Marketwire) -- 07/25/11 -- Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE: INT)(OTCQX: ITMTF)(FRANKFURT: I4T) announces that its social media, real time, experiential communications platform, Ortsbo.com (www.ortsbo.com) celebrates its first anniversary with major milestone achievements generating over 367 Million Minutes of User Engagement, 303 Million Page Views, 111 Million Online Engagements from over 71 Million Unique Users, from over 170 countries and territories during its first year.
5th Patent Application - System and Method of Translating Instant Messages
On July 21, 2011 Ortsbo expanded its intellectual property portfolio submitting a provisional patent application to the United State Patent and Trademark Office titled "System and Method of Translating Instant Messages". The comprehensive patent application covers many of the innovative features found in Ortsbo's product and services suite including the ability of translation of instant messages on multiple instant messaging networks and enabling language translation of instant messages where only one of the parties is a user using the translation enabled system. This is the 5th patent application submitted directly by, or purchased by Ortsbo in the past 60 days and provides a foundation for Ortsbo's leading edge intellectual property multi-faceted experiential communications platform.
Acquisition of 100% of SaaS Technologies Inc.
Intertainment entered a binding letter agreement, effective as of July 21, 2011, to purchase 100% of shares of SaaS Technologies Inc. which shares will be transferred to Ortsbo Inc. after the closing of the acquisition, making Ortsbo the sole owner of all of its technology and services offerings. The letter agreement provides for ownership and rights of several existing and new technologies where formerly Intertainment and Ortsbo had partial ownership agreements and exclusive licensing arrangements with management and development staff of SaaS remaining onboard. The purchase is valued at over $27 Million in a combination of cash and common stock of Intertainment with final details to be reflected in closing documents between the parties. This transaction and final agreements are subject to final board, escrow and regulatory approval.
Record Results for July 1 to July 15, 2011
Ortsbo's social media offering continues to accelerate achieving record results for the first half of July 2011. Below are the reported results for Ortsbo's first year together with semi-monthly results for July and Estimated Yearly Growth Trends based on the comparison of the reported results.
Yearly Est. Year 1 Results July 1 to 15 Growth Trend Online Sessions 111,963,056 14,711,799 215% Page Views 303,772,363 49,811,053 294% Unique Users For Period 71,930,156 10,207,674 241% Minutes of User Engagement 367,339,251 87,811,884 474%
"This has been an amazing first year for the Ortsbo team. We achieved Facebook's first 3 years of growth in 9 months, established a Guinness World Record for Most Nationalities in an online chat, and had world wide Live & Global events with KISS and Steve Nash, along with the development of a world class product, technology, marketing and execution team," said David Lucatch, President of Ortsbo / CEO Intertainment Media "As we look towards our 2nd year, we continue to accelerate Ortsbo at record pace, have 5 patent applications in process, numerous branding activities underway with partners like INDYCAR and Variety, upcoming mobile releases and a bevy of revenue opportunities emerging. Amongst all this, it's the emergence of our loyal users and supporters who have been the most exciting achievement as together we tear down the global language barriers."
Through August 2011- Ortsbo 040 - With the launch of Ortsbo's email plug in for Microsoft Outlook, or "O4O", Ortsbo is launching a unique promotion: Ortsbo Cruise Into Translation. Users who register and install O4O through August 2011 will have the opportunity to win 1 of 5 trips on the KISS KRUISE in October as well as other VIP prizes. Additional contest ballots will be available for people who refer friends that register and install O4O. To register, please visit www.ortsbo.com.
September 20 - 21, 2011 - LA Mobile Entertainment Summit, presented by Ortsbo. Featuring Keynote speaker Gene Simmons, the LA Mobile Entertainment Summit, presented by Ortsbo brings together the most prestigious group of entertainment, financial and corporate players. The LA Mobile Entertainment Summit's unique environment enables attendees to engage, debate and define the latest developments in the mobile marketplace. With an unprecedented group of mobile opinion leaders, the summit will focus on how companies can monetize with mobile technology. For more information, please visit http://www.lamobilesummit.net.
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For the Company's corporate blog, please visit www.intertainmentmedia.com/blog.
About Ortsbo Inc. www.ortsbo.com
Ortsbo (www.ortsbo.com) enables real-time conversational translation in over 50 languages and seamlessly integrates with today's most popular social media platforms.
Ortsbo Inc. is a subsidiary of Intertainment Media Inc., a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.
Ortsbo's flagship product for social media (www.ortsbo.com) supports global communications with instant translation capability, real time multi-lingual social media chat connects to PC and Mac computers, mobile browsers as well as all major search engine chat platforms including Microsoft, Google and Yahoo! along with Facebook, iChat, AIM, ICQ, Gadu-Gadu, Ovi, Lotus Sametime, LiveJournal and Tencent QQ and QQ International, China's largest chat platforms and Twitter.
Ortsbo allows users to communicate with family, friends and colleagues around the world, providing users with the ability to break down language and cultural barriers through its easy to use, language centric interface. User demographics have continued to favor the BRIC countries with China remaining the number 1 usage country for Ortsbo followed by Brazil, the US, South Korea, Canada, Taiwan, Germany, Argentina, Russia and India. Ortsbo's Top 10 user countries have a combined population of over 3.4 Billion people.
International rock legend, accomplished global entrepreneur and one of the world's most recognized personalities, Gene Simmons has endorsed Ortsbo.com, having signed on as a business partner and to serve as Ortsbo's official spokesperson.
The personification of today's globally connected, multi-cultural citizen, Simmons is fluent in five languages, including English, Hebrew, Hungarian, and German, as well as some Japanese and he's working to add Mandarin to his repertoire. Simmons will lend his legendary personality to help spread the word about Ortsbo's unique, translator experience platform that integrates seamlessly with the most popular social media platforms to enable users from around the world to instantly send and receive messages in their native language.
Two-time NBA MVP Steve Nash to become an official spokesperson for Ortsbo. Leading Ortsbo's global sports fan program, Nash will present and participate in a number of online fan chats with international athletes from a number of sports disciplines.
Intertainment Media owns and operates a number of key properties including Ad Taffy, itiBiti, Ortsbo and Magnum. For more information on the Company and its properties, please visit www.intertainmentmedia.com.
Headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA, Intertainment Media Inc. is listed on the Toronto Venture Exchange under the symbol "INT" (TSX VENTURE: INT) and in the US on the OTCQZ under the symbol "ITMTF". Intertainment is also traded in Europe, on XETRA under the symbol "I4T".
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Ortsbo / Intertainment Media Inc.:
David Lucatch, CEO
800-395-9943 / 905-763-3510
To learn more, visit: www.ortsbo.com
To learn more, visit: www.intertainmentmedia.com
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