SOURCE: Provision Interactive Technologies, Inc.

Provision Interactive Technologies, Inc.

January 28, 2010 08:30 ET

Provision Interactive Signs Exclusive Agreement With Phantasmic Entertainment to Develop Giant 3D "Without Glasses" Displays

CHATSWORTH, CA--(Marketwire - January 28, 2010) - Provision Interactive Technologies, Inc. ("Provision"), a subsidiary of Provision Holding, Inc. (OTCBB: PVHO), announced today that it has signed an exclusive development and sales agreement with Phantasmic Entertainment, Inc. ("Phantasmic").

Under the terms of the agreement, Phantasmic will underwrite the development costs of a new life sized, large format 3D HoloVision display. The display will be capable of projecting floating 3D holographic videos three feet or larger in size without the need for glasses. Provision will retain the intellectual property rights while Phantasmic will enjoy exclusive sales rights within certain market channels.

"We are very excited by this new opportunity to work with Phantasmic, as this partnership allows Provision to offset the significant research and development costs associated with developing large format displays capable of projecting life size images. We look forward to marketing and selling this display in other market channels both in North America and globally," said Curt Thornton, President and CEO of Provision.

Upon completion of the product development process, Phantasmic will be granted exclusive sales and distribution rights for the product within auto dealerships, themed entertainment, and retail furniture stores in the U.S. and Canada. Phantasmic expects to purchase a minimum of 4,000 displays over a three year period, which equates to more than $30 million in hardware sales.

"Based on the overwhelming and positive response to Provision's technology, we believe the addition of the larger free floating 3D displays will provide a significant advantage to the marketing and advertising of various products and services. We also believe that this product will be extremely well received by our business relationships. We are excited to be a part of the process and are committed to its success," concluded Carl Smith, CEO and Chairman of Phantasmic.

About Provision Interactive Technologies, Inc.

Provision Interactive Technologies, Inc., a subsidiary of the publicly traded company Provision Holding, Inc. (OTCBB: PVHO), is the leading purveyor of interactive 3D holographic display technologies, software, and integrated solutions for both commercial and consumer focused applications.

Provision's 3D holographic display systems represent a revolutionary technology that provides the projection of full color, high resolution videos into space detached from the screen, without any special glasses. Provision is currently the market leader in true 3D consumer advertising display products being implemented by innovative, consumer-focused Fortune 1000 companies.

For more information, please visit Provision at

Forward-Looking Statements

Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • Investor Relations:
    Poseidon Capital
    (702) 589-5830