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TMM, Inc.: Dr. Alan Sloan Joins Advisory Board(February 29, 2012)
WILMINGTON, DELAWARE -- (Marketwire) -- 02/29/12 -- TMM, Inc. (PINKSHEETS:TMMI) ("TMMI") or (the "Company") is pleased to announce that Dr. Alan Sloan has joined the Company's newly formed Advisory Board. Dr. Sloan together with Dr. Michael Barnsley was a pioneer in developing and patenting fractal digital compression technology.
In 1987, Dr. Sloan co-founded Iterated Systems, Inc. ("Iterated") with Dr. Barnsley to create a business to develop and market fractal image compression technology. In 1992, Iterated signed a comprehensive license agreement with TMMI by which TMMI acquired the rights to use and develop Iterated's fractal source codes VDK1.0 to 1.4. While with Iterated, Dr. Sloan also developed grant applications and was a principal involved in a number of Defense Department contracts to develop an early PC based video phone for the Army based on their SINCGARS mobile radios and a high speed video compression board for the Air Force to use in a sensor testing lab. Dr. Sloan led a project to develop a low complexity, low bit-rate videophone codec for Mitsubishi. He negotiated a multi-year contract with MCI which included the development of a high frame rate, low bit-rate, and low latency videophone codec.
Dr. Sloan received a B.S. at MIT and a Ph.D. in mathematics from Cornell and then spent a year at Carnegie-Mellon University on a postdoctoral fellowship. He then joined the faculty of the Georgia Institute of Tech in 1972 and remained a professor at Georgia Tech, except for a visiting position at Princeton, until he left to join Iterated.
In the mid 90's, Dr. Sloan joined ANSI L3 and MPEG 4 standards groups and formed a cooperative effort with MCI regarding MPEG 4. He is an inventor on several issued fractal image compression patents. Iterated was renamed Media Bin and went public in Norway in the mid 90's. Dr. Sloan left Media Bin in 2002 and patented a new image recognition technology.
TMM, Inc.'s goal is to complete the development of its TRUDEF(TM) technology to enhance such technology to make it commercially viable to meet the demands of the growing high definition fractal video compression technology market.
ON BEHALF OF THE TMMI BOARD OF DIRECTORS OF TMM, INC.:
GERARD V. CAVANAUGH, CHAIRMAN AND PRESIDENT
For more information, please visit the Company's Website at http://www.tmmi.us.
Safe Harbor Statement
The information in this release contains forward-looking statements which involve risks and uncertainties, including statements regarding the Company's capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as "may", "should", "will", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "forecast", "project", or "continue," the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results. Any or all of the Company's forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions, risks and uncertainties and other factors which could cause actual events or results to be materially different from those expressed or implied in the forward-looking statements. Factors may cause the Company's actual results to differ materially from any forward-looking statement. In addition, new factors emerge from time to time and it is not possible for the Company to predict all factors that may cause actual results to differ materially from those contained in any forward- looking statements. The Company disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this document, except as required by applicable law.
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