SOURCE: RTG Ventures Inc

January 05, 2010 13:56 ET

Status of NMTV Agreement

NEW YORK, NY--(Marketwire - January 5, 2010) - RTGV (OTCBB: RTGV): Effective December 17, 2009, Roger Taylor has resigned his role in the Share Exchange Agreement with RTGV and will have no further role in NMTV going forward.

The RTGV officers are requiring that closure of this transaction be an immediate priority of all parties demanding the cooperation necessary to close. Linda Perry has just returned from Los Angeles where she met with a wide variety of potential media partners and potential post-closing acquisition targets and tested the new Business Plan with very positive results. A significant portion of the trip was to steward the sale of the non-core assets. She commented: "Sometimes unforeseen delays come with a silver lining. New media has been moving like lightning and by dramatically changing the Business Plan we are on the crest of the evolution. The payment systems model is in sync with, and was in advance of, the new model of paying for content suggested by Rupert Murdock and others last week and reported in The New York Times. For years the revenue model was based on advertising on the web which has fallen very short of expectations."

Dom Hawes, Barry Fludgate, President and CEO designate of NMTV, and Perry are moving forward to closure with the prudence required, but as a #1 priority.

Perry will travel to London next week after which there will be an additional Amendment to the Definitive Agreement filed.

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: www.rtgventures.com

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