SOURCE: Interact-TV, Inc.

November 12, 2013 08:00 ET

Interact-TV Subsidiary Issues Open Letter to Shareholders; Details Activities and Future Plans

LOS ANGELES, CA--(Marketwired - Nov 12, 2013) - Interact-TV Incorporated (OTC Pink: ITVI) is pleased to issue a letter to shareholders detailing its recent activities and informing investors of the work being done to bring value to the Company in the near- and mid-term future.

The letter, from company President and CEO Robert Bryan, and available on the company's website at http://interact-tv-inc.com, reads: "We appreciate all of our investors' patience as over the last several months our officers and Board of Directors have spent countless hours on planning a growth-effective strategy for the company. I am excited to announce that our Board has authorized a business plan which focuses either on joint ventures, or acquisitions that would in time be spun off. So far we have identified six revenue generating entities, and we continue to identify others as an ongoing operational objective set by our Board.

"The first business we have targeted -- and with which we have begun preliminary talks -- is an entertainment software and digital archiving company with a client list that includes over half a dozen Fortune 500 companies and annual sales of approximately $3 million.

"Such a company would be placed directly under our Entertainment Services Division, which, along with our Music and Music Management Division (under which we have our revenue-generating subsidiary Pocket Kid Records), and our Entertainment Content Division (headed up by Board member Alan Brown), forms our current roster of divisions.

"As we continue to expand we shall form new divisions as necessary based on our joint venture and acquisition activity. Our aim is to maintain consistent contact with our investor base as part of our overall shareholder relations strategy to increase awareness, visibility and transparency. To that end, our specific goals include the filing of an SEC Registration Statement and the move up to the OTC QB secondary stock quotation service on the OTC Markets, with an eventual move up to the OTC QX -- which means our focus will be on meeting their more stringent quantitative and qualitative requirements, chief among them the $2 million in assets threshold.

"The success we've achieved in strengthening our music division is evidenced in the quarterly reports which we have filed through the OTC's Disclosure and News Service, available at http://www.otcmarkets.com/stock/ITVI/filings, which show our revenue for the year ended December 31, 2012 at roughly $300,000, a figure which has already been exceeded just in the first six months of this fiscal year.

"Again I want to thank our investors for their trust and patience and look forward to updating you in the near future on the efforts and achievements Interact-TV is making towards our stated goal of maximizing shareholder value and completing the transformation of this company into a major provider of entertainment services, content and management, with a large and visible investor platform."

About Interact-TV: Interact-TV Incorporated, a publicly-traded Delaware corporation (OTC Pink: ITVI) is a diverse entertainment company with interests in various media, encompassed currently within three divisions: Music and Music Management (through its wholly-owned subsidiary's subsidiary Pocket Kid Records); Entertainment Content; and Entertainment Services.

Contact Information

  • For more information, please contact:
    Robert Bryan
    CEO
    Interact-TV Incorporated
    818-334-5225 x 100
    info@interact-tv-inc.com
    interact-tv-inc.com
    pocketkidrecords.com