SOURCE: Hipso Multimedia, Inc.

HPSO, TV

April 15, 2010 08:37 ET

Hipso Multimedia, Inc. (HPSO) Provides an Update on the Progress of Its Subsidiary, Valtech Communications, Inc.

ILE DES SOEURS, QC--(Marketwire - April 15, 2010) - Hipso Multimedia, Inc. (OTCBB: HPSO) is providing a corporate update for its subsidiary, Valtech Communications, Inc., which offers "triple play" (telephone, television and Internet) communications services, for the benefit of its current investors and prospective investors.

Valtech continues to gain new customers on a daily basis. New customers include, but not limited to, people moving into apartments in new buildings for which we are under contract to provide communications services to tenants, as well as customers who are switching from incumbent suppliers to us as a result of our service and lower costs.

During the last six months, Valtech has renegotiated many of its supplier contracts for the purpose of augmenting margins while still supplying its customers with services of the highest quality. When its main television signal supplier closed its doors with very short notice, Valtech's management team negotiated directly with the television channels in record time assuring its customer base of uninterrupted service.

We have started negotiations with the Canadian Radio and Television Commission (CRTC) with the goal of applying for a Broadcasting Distributing Undertaking ("BDU") which will enable us to respond to the demand for integrated digital broadcast and high-speed Internet access services by offering a full range of integrated broadband digital services.

We continue to pursue wholesale operations due to the high interest levels and we expect to serve wholesale customers as soon as the IPTV platform is completed.

Simultaneously, we have strengthened our relationship with Ericsson North America. We continue to meet and discuss our IPTV platform with Ericsson while it is developing new features. We are, at the present time, working towards the purchase and implementation of the latest version of the Ericsson IPTV platform.

Hipso Multimedia, Inc., through its wholly-owned subsidiary, Valtech Communications Inc., is dedicated to combining cutting edge technology and service in the triple play telecommunications industry. It intends to become a major force in the IPTV (Internet Protocol Television Broadcasting) arena as well in DVBT (Digital Video Broadcast Terrestrial) network technology.

Forward-Looking Statements

All statements other than statements of historical fact included in this press release are "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to risks and uncertainties, some of which are beyond the Company's control.

Contact Information

  • Contact:
    Hipso Multimedia Inc.
    René Arbic
    President
    514-380-5353

    Investor Relations
    Andrew Barwicki
    516-662-9461