SOURCE: RTG Ventures Inc

December 04, 2009 09:44 ET

NMTV Continues to Move Toward Closing Date and Finalizes Its New Business Model

NEW YORK, NY--(Marketwire - December 4, 2009) - RTGV (OTCBB: RTGV): All of our loyal shareholders understand that all Conditions of Closing must be completed before the Share Exchange between ANHL, NMTV et al and RTGV can be concluded. The shareholders, company officers and all our professional advisors share the frustration of delays, while also sharing the high integrity required in following regulations and applying best practices' standards in how we go about our business. Two of the conditions for ANHL are: "Completion of Audits. The Company shall have audited consolidated financial statements prepared in accordance with US GAAP for each of their past three full fiscal years" and "RTG shall have satisfactorily completed its due diligence review of Holdings and its Companies."

Barry Fludgate, NMTV's CEO-designate, commented: "We have been and still are, working hard on the audit of BMC. In any SEC fully reporting public company in the US, when a business combination is occurring with a private company, those books must be audited. Since we need to go back 3 years, involving accountants, auditors and attorneys, it is taking longer than anticipated. Although we acknowledge being frustrated and disappointed, it is extremely difficult to calibrate the timeframe necessary when multiple people are required to complete the task. But the good news is we are continuing to develop the business. At the same time RTGV has also had to concentrate on filing its annual 10-K which is a Condition of Closing for RTG whatever the timeframe -- our filings must be up to date."

Outside of the regulatory requirements, we have developed an expansive Business Plan which is our execution document and will provide the benchmarks to steward and adjust as the industry is changing at lightning speed. Dominic Hawes-Fairley, President-designate of NMTV summarized the state of play. "Over the past 3 months we've completely turned the business plan on its head, changing the business from a company in the traditional media and real estate business to a company which will be a cutting edge media and technology group capable of reacting quickly to changing demands. We are very active in looking for acquisition/partnership/strategic alliance targets that fit our new business model in one of three key areas: broadcast technology, payment systems and ancillary services for these sectors. The targets are identified and we are already in negotiations with them, but at this point we are focused on closing and becoming NMTV, Inc."

Following the dramatic changes to the Business Plan the management team is now in a position to share the forecasts for the future. NMTV will exploit its unique assets of independent divisions to create broadcast platforms on the Internet with both business to consumer and business to business markets in mind to develop a competitive advantage for NMTV. Our vision is TV anywhere with embedded payment systems, and while we know that this is an area of extremely frenetic activity on both sides of the Atlantic, we believe we have the essential ingredients in place to deliver. To that end, NMTV expects annualized revenues in excess of $50 Million US by the third year of operation. With positive cashflow and profit, coupled with cost-effective operations and high performance hurdles, we are well-positioned and opportunity driven.

We appreciate the support we have been shown by our shareholders and want to assure everyone that we are all doing our best to close this deal as soon as possible. There are too many contingencies and approvals required outside of our control to set a date and it was not prudent of us to make what were good faith judgments on timing, only to require more time. What we do promise is the close will be done right, will be transparent, and will advantage the RTGV shareholders.

About NMTV: RTGV, through NMTV, is an online media and electronic payment systems provider with an aggressive business model to grow unique and highly profitable consumer and business services both by organic growth of current assets and by acquisition. NMTV is targeting niche markets in the areas of Web-TV with embedded internet and mobile payment solutions. World-leading exclusive multicasting technology underpins NMTV's broadcast platforms making them very scalable for Video On Demand (VOD), linear broadcasting and live broadcasts. Two media platforms are being developed, while payment systems divisions will provide cutting-edge credit, debit, and e-cash payment services to e-commerce and mobile commerce merchants offering significant savings over current payment methods. Through Web-Pay and iPayu, embedding its payment solutions seamlessly into its online media broadcasting platforms will create a clear differentiation and advantage for our Company over other broadcast platforms, allowing its customer to monetize digital assets with no further integration of financial systems. Furthermore, through its retail sales channel, BMC, NMTV will be able to brand and productize its media offerings for sale through traditional retail outlets. NMTV's strategy for each initiative is to maximize ROI for all stakeholders For RTGV's available Due Diligence, visit our website at:

Safe Harbor Provisions: The foregoing contains certain predictive statements that relate to future events or future business and financial performance. Such statements can only be predictions, and the actual events or results may differ from those discussed due to, among other things, those risks described in RTGV's reports filed with the SEC. Opinions expressed herein are subject to change without notice. This document is published solely for information purposes, and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities in any state. Past performance does not guarantee future performance. Additional information is available upon request.

Contact Information

  • Investor Relations Contact:
    RTG Ventures, Inc.
    917 488 6473